USA Gold Vault. Call Eric Levenson at: 1.623.643.8785
$99 Trillion - what does that mean?
Most Americans haven't a clue about what $99 TRILLION dollars means. They don't understand the difference between the national debt and the deficit.
That amount represents UNFUNDED liabilities run up by Congress after Congress after Congress and signed off by president after president after president - regardless of what party has been in power. The power to tax is the power to destroy.
Medicare is $30 TRILLION in the hole. $30 TRILLION and growing by the day. Hey, give me that "free" Hover-Round or scooter with the help of Medicare!
How foolish Americans have become because they never pay attention to the numbers, but they know all the football scores and latest sales at the mall.
As I write this, the national debt is now in excess of $11.3 TRILLION dollars. Pile that onto the unfunded liabilities (SS, Medicare, military) and what we the people are facing is financial ruin. To talk about "paying down the debt" when the impostor president (Obama/Soetoro/Dunham etc) continues to authorize throwing $10 BILLION dollars a month at Iraq is nothing more than a cruel joke on the American people.
401(K)s have not only lost as much as 36%, but they are now frozen in most cases so Americans can't even get their own money. The state pension funds are another massive failure just over the horizon. So many are leveraged and DO NOT HAVE THE MONEY and WON'T have the money when needed. See this report and it's only gotten worse:
The U.S. Constitution does NOT authorize Congress to steal the fruits of your labor to fund the foolish spending of any of the state legislatures. Every penny of these bailouts and buy outs (GM) is illegal.
These are a few current articles on the tragedy still unfolding that cannot be stopped.
predicting both the financial crash of 1987 and the current crisis
Our government no longer represents we the people. They have squandered away our retirement and committed our children and grand children to a life of indentured servitude to the banking cartels. I hope you seriously consider diversying what cash you might lave left because the government will continue to lie to we the people. Gold never lies and it never loses its value.
radio: Solutions Not Politics
February 19, 2009
In the summer of 2005, I told my husband we had to sell our house and get out of California. I told him the housing market was going to blow sky high. John wasn't ready to retire and who likes to move? Then, he was diagnosed with cancer, so plans were put on hold. At the time, we owned a home in Natomas Park (Sacramento), which was ranked the number one planned development community in the U.S. around 2002-2004. I finally convinced John we had to get our house on the market. I came out here to Texas and bought this home in Texas in June 2006.
We didn't use our home as an ATM machine and were very lucky to sell it in September 2006. The rest of the dozens of homes within a few blocks of ours continued to sit on the market. John did retire as he could no longer work; we knew that was coming. He just had to hang on long enough out in Sacramento to get the house sold, closed and join me here in Texas.
The house across the street from ours sold in June 2005 for $405,000. Same floor plan as ours and square feet. Today it is appraised at $235,000. The house across the street on the other side of the aforementioned one sold for $655,000 (5 bdrm job) in July 2005. Today it is appraised at $319,000. The house we sold is now worth $190,000 less today than the day we closed escrow. Those owners will never be able to sell for what they paid. They'll either live there until they die or walk away.
Half of that highly desirable housing area is in foreclosure; auctions are twice a week. Had I not pushed John to get that house on the market and sold, we would still be in it and California where the taxpayers are being raped by their legislature in massive taxes to support some 8 MILLION illegals. Kissed and blessed by the movie "star," Arnie.
I'm telling you now as I have in my columns, writings and speeches for more than 15 years: We have reached the point of no return. We knew this was coming. It is here. What we're seeing right now coming out of Washington is an extension of the Fascism the Republican controlled Congress shoved down our throats for the 14 years they had power. The Democrats, who have had "power" since January 2007, in collusion with the impostor president, are moving us past socialism to pure communism and world government. Learn what these forms of goverment mean so you can recognize what is happening.
This is raw reality.
BIG trouble is coming down the pipeline at hyper speed right along with hyper inflation. No amount of words from professional politicans can change the numbers.
Those who continue to ignore the screaming red flags are going to suffer worse than if they took all steps possible to protect their assets. Trillions in pension funds are now at risk. I talked about this on my radio show recently. This is what the career politicans in Washington, DC, that keep getting elected over and over and over have allowed to escalate while they play their stupid political party games:
Little-known agency that insures pensions of 44 million workers braces for recession fallout
RIECHMANN Associated Press Writer
"The Pension Benefit Guaranty Corp. already has an $11 billion deficit that seems sure to grow larger as Corporate America suffers through the worst economic crisis since the Great Depression. With companies reporting shortfalls in their pension funds, it's all but certain that the PBGC will be forced to take over the pension plans of a rising number of bankrupt businesses.
"That means more red ink at the corporation before things possibly can improve. The future financial health of the agency is hard to forecast. It is hinged on interest rates, the length of the recession and the PBGC's own luck in playing the market, where it has billions invested.
"The agency has $63 billion in assets. But it is obligated to spend $74 billion on pension benefits in the coming years. The PBGC might have time to rebound, but over the long term it might become insolvent and require a bailout."
Bailout with what? The people's treasury is overdrawn almost $11 TRILLION dollars with debt for obligations of close to $72 TRILLION dollars. Have you fainted yet? You can only put so much air into a bubble before it bursts.
The impostor president, Barack Hussein Obama aka Barry Soetoro aka and so forth is going down over the citizenship issue. It's just a matter of time. There will be no change except some of the worst times this nation has faced since the "Great Depression." What Obama is doing is what FDR did. FDR with his toxic programs prolonged the depression:
Today on FOX News Network the new unemployment figure is 8.8%. That is misleading. It's much higher, but deception is what is being force fed to the American people. It will get much worse. There were 2.8 MILLION forclosures last year. If the 7 - 9 MILLION toxic mortgates is accurate, the situation is far, far worse than we thought.
This is 1933 Germany and the outlook is dire to put it mildly. Empty bellies make for angry mobs.
On September 25, 2008, I wrote a column titled: 'Bailouts: the wound that will keep on hemorrhaging.'
The patient is on the table bleeding to death. The "bail outs" and the MASSIVE back door tax increase (gang rape) called the stimulus package just passed will take America into a depression. Make no mistake about it because it IS underway. Some say within six months, others with decades of experience in the financial markets give us 18 months at the outside.
I encourage you to visit USA Gold Vault's web site and acquire gold. I'm not selling anything. I'm trying to help Americans understand history because it is now repeating itself.
radio: Solutions Not Politics
That we are entering a depression is a fact that cannot be denied and nothing can stop it. Not phony "stimulus" packages or creating more government jobs that produce nothing. The American people must focus spending their consumer dollars with American companies and do whatever you can to protect your assets while we suffer through the next few years.
Millions of Americans have seen their 401(k)s that the "experts" said would be fine, plummet. As much as two or three years worth of on the job wages contributed, now gone forever. Millions of Americans who planned to retire have found themselves in such dire straights from the looting the past four months, they have to stay on the job. Those "golden years" have been stolen from them by a corrupt government and corrupt private corporations.
If only there was something good to report, but there isn't. Reality is here and now and it isn't pretty. The portrait will get much uglier by the end of the first quarter of this year. The so-called "stimulus" package being proposed for $1 trillion dollars that does not exist will be $2 trillion by the time the interest is paid to the private Federal Reserve Banking System.
Does that make any sense to you? These crooks in DC will borrow a trillion bux to "give" to voters who in turn owe twice the amount back to the central bank and their stockholders in interest.
Below is a portion from Bob Chapman's International Forecaster. I have been reading his expert analysis for ten years and he is always 100% on the mark. He doesn't pull any punches. Bob has been at this a long, long time. If you can, I hope you will diversity some of any cash resources you have into gold. Take physical possession of it and remember: Gold has never been worth zero, but paper currencies backed by nothing are toxic.
and then The Second Great Depression
A future out of control, bankrupt financial institutions trying to hold on, limitation on credit severely limits ability of the economy to start up again, debt totally embraces our lives, handouts a state secret, soon cash infusions wont work for banks anymore, banks hold too much toxic garbage to even know if they are solvent We are now 17 months into a credit crisis that continues to expose the corruption and incompetence of government, banking, Wall Street and transnational corporations.
The situation has not stabilized and it wont anytime soon. All we see are sweetheart deals for elitist corporations for which American taxpayers will pay for years to come. The future of our nation is totally out of control. For the last eight years our economy has been running on something for nothing, lies and deceit. The result will be hyperinflation and then the Second Great Depression.
As we predicted long ago the only avenue open to the elitists that control our country is to hyper-inflate to avoid collapse as long as possible. In this process financial institutions, most of whom are bankrupt, are trying with the help of the American taxpayer, to hold on. In that process they are severely limiting credit, which restricts business and growth and has caused crippling de-leveraging in our economy, particularly among hedge funds.
Debt totally embraces our lives and finally we see de-leveraging among individuals as all debtors and borrowers come under pressured from the lenders. While this transpires relentlessly, unemployment grows stamping out the buying power of the masses many of whom already are on the edge of bankruptcy. We have this great mass of disintegration on the bottom and massive amounts of money and credit on the top. The money and credit is not reaching consumers who have been forced to stop buying. It is staying on the balance sheets of banks, brokerage houses, insurance companies and transnational conglomerates, such as G.E.
As you can tell from our publication and its growing size there is so much negative news we cannot publish it all. The response of government has been a massive distribution of taxpayer funds and if you can believe this they refuse to tell us who are the recipients of this public largess. In spite of repeated requests they refuse to name the borrowers, so that corruption and fraud can thrive. In such an environment of aggregate creation and corruption the only investments that shine are gold and silver. The cracks are appearing in this edifice of greed and the only place to flee to is those historical stand buys.
The first $125 billion lent by TARP went to banks in the Fed system of which 90% was used to award bonuses. This is to make sure that the Illuminists continue to receive the riches of the system. Funds are being lent, but the system is being strangled. Funds lie on bank balance sheets to keep them solvent and to be available for dividends and the purchase of other non-elitist banks. This is why more and more funds are needed for the system. This is what we realized very early on, some three months ago and that is how we were able to predict that more than $10 trillion would be needed to keep the system afloat. In time these infusions wont work any more.
why the Fed and the Treasury wont tell you who is receiving the
handouts. It is a state secret. Such arrogance is unprecedented in the
history of America.
game goes on unemployment is 6.7%, U6 13.5% and long-term joblessness
is 15.4%. That means a further hit on bank earnings, balance sheets
These tactics by the Fed and Treasury puts more downward pressure on the economy causing more unemployment and less consumer spending. This deepens the recession. Saving AIG, as we predicted, will cost $500 billion and Citigroup $1 trillion. JP Morgan Chase has unlimited funds to cover its derivative losses, control the bond market and to depress gold prices. That is why what Morgan does is classified as a national security issue.
It has been just three weeks since the Fed flooded the books of the 16 major banks that run Libor, the London Interbank Offered Rate, which is used worldwide to calculate interest rates. That rate was 4.8% for 3-month paper. A couple of days ago it was 2.16%. This forced the lenders to loosen up on lending and bring interest rates down. This needless to say is highly inflationary. Among other reasons for the manipulation is that this rate is used to set mortgage rates worldwide. The funds used to accomplish this were lent by the Treasury to US banks, which in turn lent to London banks. That step was followed by the Treasury and the Fed, via Morgan, Goldman and Citi, to drive down rates on US Treasuries.
The long term rate on the US Ten-year Treasury note was then driven down from 4% to 2.55%. 30-year fixed rate mortgages usually sell for 1% to 1-1/4% higher than the 10s, so rates should be 3.80%. The lenders, banks, held rates at 6% to 6.5%. After such an onslaught they have dropped rates to 5.5%. That isnt good enough for the Fed and the Treasury, they want rates at 4.5% for FHA loans, so that is where that mortgage rate is headed. If you were waiting to reset your mortgage wait until rates go below 5%. That should happen soon. This shows you how extensive government and Fed manipulation is.
Vast amounts of funds are being funneled in the finance sector where half the corporations are bankrupt, without any questions or announcements as to whos getting the funds. We are talking about over $10 trillion yet the UAW and the officials of GM, Ford and Chrysler have to beg on their knees for $15 billion to tide them over for 3 to 6 months. This shows you how unfair the entire process is and how the Illuminists are trying to bury the American and Canadian vehicle manufacturers as soon as possible. The Democrats see political advantage here and will get a bailout done. They should be carried for 6 months and that is it. We believer they will not make it.
We see absolutely no recovery for years to come. In June theyll all file for bankruptcy. What you are seeing is a sideshow. Our vehicle business will not survive unless Congress implements trade tariffs on goods and services. Remember whether companies live or die is decided by the Illuminists not by a free marketplace. Most of the money lent out is going to bankrupt loser banks and brokerage houses, which caused all these problems in the first place; Labor elitists have exacerbated the problem over the years as well. It is still not too late to drop labor rates from $31 to $15 an hour and make other major concessions as well, in the absence of trade tariffs in order to survive.
How would you like to have several billion dollars without any restrictions on how its spent? That is the kind of deal Citigroup, AIG, JP Morgan Chase and many other institutions have regarding money from the Treasury and the Fed. These are the Illuminist corporations that are deemed too big to fail. When they are to be bailed out Congress has very little to say, but when the big 3 automakers need help congress puts them through the hoops. This capitalism is survival of the fittest and the richest. There is no fairness or even handedness. It is the worst looting of the American people in history. Automakers must have a plan, but Citigroup doesnt need one. As it was said in Animal Farm, some are more equal than others.
Bear Stearns was financially assassinated. Fannie Mae, Freddie Mac and AIG were rescued to cover up their frauds. The corrupt Lehman Brothers was simply beyond saving. It would most certainly have been saved if it had been possible. The only way Fannie and Freddie were saved was by guaranteeing their bonds. That job was left to the American taxpayer.
Such bailouts and free trade, globalization, offshoring and outsourcing have destroyed our economy. These actions began in full force under Clinton and Rubin, and were strongly carried on under the Bushes. The strong dollar-anti-gold policies in the 1990s laid the groundwork for the boom and bust of the dotcom era. It also allowed conglomerates to offshore production and workers, which destroyed our industrial base. These US transnationals control 60% of Chinese exports to the US. As a result the American consumer economy is now collapsing.
In June subprime and ALT-A resets should be mostly over, but the Option-ARMs-Pick-and-Pay loans are coming into view. The later are ten times larger than the former held by banks. A 10% write off would wipe out many American banks. Just recently ALT-A and Option ARMs delinquencies were averaging 20 plus percent for 2006 loans, and 17% plus for 2007, up from 16.9% and 12.2% six months ago. As this next nightmare unfolds over the next four years, it will be joined by the FHA bubble that will begin two years from now. This is more serious than the subprime/ALT-A fiasco could have dreamed of being.
This will be a wipeout and all treasurys Paulson and the Feds Bernanke can think of doing is to bail out Illuminist Wall Street and banking. They want to make sure shareholders get their dividends and corporate officers get their mega salaries and bonuses. Wait until the other loans go bust the credit card and vehicle loans. As we explained previously the commercial real estate market is frozen because banks wont lend and that crisis is unfolding as we speak. The people who destroyed our financial system are being allowed to repair it. The problem is they are not repairing it they are looting it further. The fraud is blatant and Americans are too dumb to understand what is being done to them.
I urge you to consider diversifying a portion of your portfolio or savings into gold because gold doesn't lie and it never loses its intrinsic value. Not in thousands of years. Visit USA Gold Vault 's web site for a wealth of information on this important issue. It amazes me how many Americans simply ignore the risk of losing everything they've ever worked for instead of doing what the world's richest people do and that is own gold.
Harvey can answer your questions and help you in understanding what is best for your situation. His number in Arizona is: 602.228.8203