Rogue Political Weapon
Many had suspected it, and now it is confirmed. According to emails obtained by the House Oversight Committee, Sarah Ingram, of the IRS, discussed confidential taxpayer information with senior Obama White House officials. Until cleared up, the IRS no longer appears to be a legitimate government agency but a rogue political weapon.
Obama is going to nominate Janet Yellen to take over the Fed after Benji Bernanke exits. In February, she stated that the high unemployment situation was largely cyclical and not structural; thus, her plan is to raise aggregate demand by printing more dollars. Makes one wonder what criteria exists to run the Fed?
The Dollar Dies
Imagine how happy foreign leaders, whose economies and currency depend upon the U.S. Dollar, will be when their countries are in shambles because American politicians refuse to pay their bills. The U.N. and IMF have been calling for a new reserve currency for some time; however, there is one that immune to the exposure to the U.S. dollar and that is physical gold and silver. Is it any wonder that Central Banks hold 18% of all the gold ever mined?
After advising their muppets err…. clients to sell just two days before the deliberate and designed price smash in the price of gold, Goldman used the price weakness to increase their GLD holdings by 541%. They want to accumulate gold before the eventual breakdown of the current, fractional reserve bullion banking ponzi scheme.
U.S. Treasury Default Risk
The cost of protecting against a default on U.S. Treasuries for one-year bonds has surged to the highest level since the Debt-ceiling debacle in 2011 and worse than Lehman. Based on current levels, there is a 5.9% probability of default – the same as JC Penny in July.
New $100 Bill
The new 100 dollar bill costs 12.5 cents to produce. This is a 60% increase over the 7.8 cents to make the old 100 dollar bill. This is to prevent counterfeiting to everyone but the Fed.
12 Statements of U.S. Default On Global Economy
Here are a few…
1. Warren Buffett compares a debt default to a nuclear bomb; in that, it is too horrible to use.
2. Jim Grant says “Financial markets are all confidence-based. If that confidence is shaken, you have disaster.”
3. Lex Luthor says “Bring it On!”
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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