Bob Chapman | December 6, 2008
We were hit with the greatest act of terror in our nation's history on 911, an intelligence failure of the highest magnitude, and no one got so much as a hand-slap while many even got promoted. Now we have the world's greatest financial failure, and not only do we not see anyone getting a hand-slap, we see each of the very people responsible for this debacle getting golden parachutes and bonuses in the tens of millions of dollars as they resign in disgrace, and few are fired other than the hard-working employees who had little or nothing to do with making the big decisions that brought about the ruination of their companies. There is no such thing as responsibility or accountability anymore for our leaders in government and business.
Perhaps this is the comeuppance of a society that teaches moral relativism. They did what was right in their own eyes, so who are we to condemn them? But the most cogent reason for this lack of accountability is that our governmental and business systems have been corrupted in their upper echelons by the Puppet Masters and their bootlicking, puppet sycophants. The satanic trillionaires, the Illuminati, who we just referred to as the Puppet Masters, such as the Rockefeller's, the Rothschild's and the Black Nobility of Europe, who run the world as everyone's shadow government, are rewarding the people who are responsible for causing these disasters because these people have done exactly as they were told. For these people to have done otherwise would have been very bad for their continued health and/or their reputations. They were all following orders and knew exactly what they were doing.
The many events surrounding 911 and the various forces and causes behind the current financial catastrophe have been carefully planned and implemented for many decades by the Illuminati.
The purpose of 911 was to scare sucker-dupe Americans into giving up their many precious Constitutional freedoms and protections, with the ultimate goal being to have Americans abandon the Constitution and give up their sovereignty in favor of global governance, with a regional arrangement such as the clandestine Security and Prosperity Partnership of North America (SPP) sufficing as a stepping stone to a one-world Orwellian police state. As a bonus, via 911, they were able to shed more of our children's blood in yet another phony, false-flag war for profit so they could continue to line their pockets with trillions of dollars along the way to their precious one-world government. Then, as an added bonus, this pathetic group of satanic sociopaths and malefactors arranged for the staged election of the King of Abortion as our next President so that more innocent blood could be shed on the alter of world government. After all, we can't have a bunch of pesky new children running around, thus clogging up the system with too many serfs who the Illuminati could not easily control.
The purpose of the current financial catastrophe was to infect the entire world financial system with toxic waste and other unregulated derivatives, also known as financial weapons of mass destruction, to bring it crashing down so that a single world financial system with a single medium of exchange could be set forth as the suggested solution and then crammed down our throats in yet another nauseating and tiresome iteration of the Hegelian Dialectic.
The Illuminati will attempt to blame the resulting financial debacles on the cutthroat competition and rampant cheating that goes on between the various national economies, meaning that we have to have a single world financial system with centralized regulation and oversight to put an end to these shenanigans so we can all work together toward world financial prosperity. But in reality, it is the Illuminati themselves who are the root cause behind all those shenanigans, which they continually wage in furtherance of their plans to implement a global, corporatist, fascist police state of Orwellian feudality. And the only financial prosperity they intend to bring about will not be the world prosperity, which they will promise. The prosperity of the would-be masters of the universe is the only prosperity anyone will ever see if they are allowed to implement their one-world government and global financial system. The rest of us will live in Halliburton-built, slave-labor internment camps, enjoying our daily cup of gruel as we are worked into an early grave for Illuminist fun and profits, while our children are sent to centralized disinformation camps to be brainwashed and programmed into good, little, compliant serfs so they can serve their satanic masters with alacrity and enthusiasm.
Hence, the Illuminist henchmen-destroyers get their disgusting golden parachutes while the rest of us get hyper-inflated into oblivion. What you see happening at the corporate level is a microcosm of what these miscreants have in store for everyone on a global basis. They get the gold mine; you get the shaft -- the Illuminist plan in a nutshell.
If we are going to hyper-inflate our economy into oblivion, at least let's do it the right way. Throwing trillions at failed financial and business institutions saddled with moronic, outdated business plans aimed at bringing about the intentional destruction of these companies in order to bust unions, to ship our good-paying jobs overseas and to implement a centralized global economy and government, while simultaneously rewarding the morons who destroyed these institutions by continuing their employment, while throwing in hefty salaries and bonuses to boot, is, it would seem to us, hardly an intelligent use of the printing press. Let's at least give the sheople one final party before we send them to forced labor internment camps or draft them into compulsory cannon fodder service and send them overseas to meddle in everyone else's affairs as they get blown up by IED's. Let's give them a blindfold and one final cigarette before we execute them with hyper-stagflation.
It should be obvious that throwing hundreds of billions into a black hole of losses numbering in the tens, and perhaps even hundreds, of trillions (i.e. the Quadrillion Dollar Derivative Death Star), is like trying to empty the Pacific Ocean with a coffee can. Let's take ten trillion and buy out all the mortgages in the US, and then modify all the interest rates to a 5% fixed rate. We can float 10 year treasuries at 2% to fund the deal, and pocket the 3% spread of $300 billion, which we can use to shore up our budget deficit, to rejuvenate zombie corporations after we run them through Chapter 11, and to make loan workouts for those who can't even afford 5%, which would number in the millions, because fogging a mirror was the only qualification for getting a mortgage over the past five or so years. This will cure all real estate defaults and immediately convert the toxic waste into real AAA paper for the first time while everyone gets to buy a new house at 5% fixed also, thus saving the real estate market. The banks, now flush with cash, can start lending again because their balance sheets have been restored, and get back into the mortgage business by doing both refinances and purchases, while our foreign owners of agencies and treasuries rejoice, and while owners of what was once toxic waste start tap dancing on the ceiling. As the government-owned mortgages are paid off, we can use the proceeds to either float new mortgages at a 3% spread, or we can use the payoff money to pay down the ten trillion dollar treasury loan and let the banks take over again, this time with oversight and regulations that will put people in jail if they pull their cute little scams again.
We can then also float another ten trillion dollars in bonds at 2%, and give every American, young and old, $33,000, which they would have to use with the following pre-established priorities: (1) Cure any mortgage defaults, (2) pay off any credit cards and car loans, and (3) buy a hybrid car that gets 30+ miles per gallon from an American car manufacturer, or in the alternative, set up an IRA funded by gold and silver to protect against the upcoming hyperinflation, or for the younger citizens, set up a college fund if they can qualify for college. That will cure all the consumer loan defaults and restore value to all the derivatives associated with them, revive our manufacturing sector, solve our energy crisis, provide reliable transportation so everyone can get off welfare and go to work, get our kids educated, and set us all up for retirement with inflation-proofing through gold and silver, while pushing trillions in available loan funds back into the banking sector to totally re-grease the system. What the heck is $20 trillion when we already owe $100 trillion? Sure, it's certainly hyperinflationary, but what is the alternative? The alternative is a purging of the system and ultimate decade long depression for the world financial system with a major war as the cure, which the Illuminists will use to destroy our precious Constitutional rights and pave the way for a one-world government. The same will happen if we hyper-inflate, but much further down the line, and you at least get to have one final party together with some gold and silver protection, and who knows, we might figure a way out in the meantime.
You will never see such a plan implemented, because as should be obvious from the $700 billion Paulson Ponzi Plunder Plan, the idea is to bankrupt the middle class, and not to save it, by pumping taxpayer largesse into failed and insolvent banking and business entities so that the dollars are wasted and are used to destroy the middle class with hyper-stagflation, while Illuminist executives walk away with trillions in salaries, bonuses and stock dividends after buying up all the smaller fry in a fresh round of competition elimination. The Illuminists want to play god with your money and decide who lives and dies in the business world. Obviously it is their crony capitalist companies that will survive, while everyone else heads off to see the bankruptcy trustee, who will then auction off all their assets at pennies on the dollar to newly formed and nationalized Illuminist super-conglomerates that will swallow up all the old discarded, insolvent Illuminist companies that have sucked out the value of our money through their black hole of losses. These new super-conglomerates will form the backbone of our new corporatist, fascist, Orwellian police state. As we said, they get the gold mine; you get the shaft. Expecting the Illuminati to do anything that would benefit working Americans is a form of insane delusion.
We are told that the Federal Reserve may cut interest rates another ½% to 1% in December.
Normally, when the Fed cuts rates, credit-card issuers follow suit, resulting in lower monthly payments for cardholders. Rates have generally fallen slightly, but banks and retailers are trying to offset rising costs and loses by raising fees.
Those with less than perfect credit ratings and those with excellent credit ratings are having credit lines cut dramatically. They are raising rates on cash advances and overdraft protection. JP Morgan Chase will start charging a new monthly fee of $10.00 for cardholders who have been carrying large balances for at least two years, while raising their minimum monthly payments to 5% of their outstanding balance, from 2%. Citigroup’s Citibank and American Express will raise such rates 2% to 3%. Amex is raising its rates on cash advances, late payments and defaults, increasing its foreign-exchange fee to 2.7% from 2% on its consumer and small-business cards and eliminating ways to earn rewards on one of its popular cards.
Home Depot is reducing credit lines on its in-state cards. Nordstroms and Target are raising interest rates on in-store cards
In the third quarter credit card losses at issuer banks were over 5% of total credit card balances and are poised to deteriorate further. This is why interest rates are climbing and fees are rising. You get penalized because others do not pay their bills. Now you can better understand why we have been telling you for the past eight years to eliminate credit card and revolving debt. It is the most expensive of all debt.
Credit card use in the second quarter fell 5% from the first quarter to $663 million, the biggest drop in several years.
Promotional deals are being done away with or cut back as are reward programs. You will see them in next month’s mailing or you’ve already noticed some changes.
All we can say is pay off those balances monthly as they occur and get rid of debt balances ASAP.