[CitizensTruth] Economist Michel Chossudovsky on America's fiscal collapse

[Kris Knight]

Any reports yet from areas where the economic hits have been hardest?   
What is actually happening on the ground at this point?
On Mar 15, 2009, at 5:10 PM, Geri Perry wrote:


> Interview by Bonnie Faulkner on Guns and Butter, one hour: http://kpfa.org/archive/id/49073

>

> Some notes:

>

> The numbers are astounding, and horrifying. . . .We 're in a very  

> serious situation - the most serious crisis in modern history.  

> Defense spending and the bank bailouts are eating up the totality of  

> Fed revenues, and exacerbate the crisis because the real truth is  

> that stimulus money is NOT going to the real economy. We're really  

> looking at a fiscal collapse, not a fiscal crisis, because virtually  

> every category of public expenditure is threatened.

>

> Worse, low interest rates (which notably do not apply to consumer  

> credit) means few will be purchasing U.S. debt in the form of  

> Treasury Bills and Bonds while at the same time low interest rates  

> encourage another speculative onslaught by the financial economy.  

> Treasury thus lacks the ability to finance its operations.

>

> Worse yet, the banks are not only the recipients of public money but  

> a big portion of the US debt is held by the banks, allowing the  

> banks to dictate policy - and basically control EVERYTHING. The  

> public money going to the banks is being used by the banks to buy up  

> public assets (and speculate with derivatives).

>

> This means State and local taxes will skyrocket. Meanwhile the  

> upward transfer of wealth to the financial economy will further gut  

> the real economy due to speculative activity. The FEMA camps being  

> built around the country specifically ties in to anticipated unrest.

>

> The people who control the government and the people who support the  

> government know very well what they have to do to control dissent.  

> One is to control the media, including the alternative media, so  

> that the public is completely unaware of the pending impoverishment  

> of the entire nation. (and since we have a global economy this  

> impoverishment extends to nations around the world, China's economy  

> is collapsing now. 3rd world countries already impoverished by IMF  

> structural adjustment loans will suffer most, and the collapse of  

> their economies will literally drive even greater numbers into death  

> by starvation)

> <END OF NOTES>

>

> In short, the system is rigged. Read about the first global crash of  

> 1345 to find out what may be in store: http://www.schillerinstitute.org/fid_91-96/954_Gallagher_Venice_rig.html

>

> Also WATCH FOR another email titled The World According to  

> Derivatives which is about my 7 part series on derivatives which  

> explains the whole picture.

>

> THE SOLUTION? Demand Congress get behind Kucinich to create  

> Constitutional money and regulate the value thereof.

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Kris Knight of WellAware Life Enhancement Center
Phone:  1-608-ALL-LIFE
welaware at merr.com