Posts Tagged ‘Meltdown’
This depression will dwarf the ‘great’ depression
From another blogger – Travellrev
… In the ‘great’ depression 7 million people died of hunger in the US alone. The ‘Great’ depression led to WWII and the abject world wide poeverty that some of the oldies still remember and which prevents them from spen[d]ing even the smallest amount of money on themselves. I’m sure you all know of such a person. They had every reason.
At he time of the great depression 90% of the US population grew their own food and had their own small family farms. Now perhaps 15% of the US population has access to homegrown food and the rest of the population works in the service industry or the financial industry and only some 12% work in factories actually producing something that can be sold.
More than 600.000 people a month for the last four months have lost their jobs in the US alone. The expectation is that more than 8 million houses will be foreclosed on in the next two years with millions already having been foreclosed on.
So let me set you straight on this littel issue. The IMF says it will be the deepeset depression since the ‘Great’ depression? No, It will be a depression that will dwarf the ‘great’ depression.
G20, Poster; street party Bank of England 12.00 Noon April 1st
www.G20-Meltdown.org Poster
Russia (Like Ron Paul) backs Gold Standard
The Banks, most famously the Fed, just print whatever they want. They also manipulate society and individuals at will, and all with the flick of a switch of a printing press.
Banksters, Gangsters, Madoffs, Bonuses – the age of falsity ..
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Russia backs return to Gold Standard to solve financial crisis
Russia has become the first major country to call for a partial restoration of the Gold Standard to uphold discipline in the world financial system.
By Ambrose Evans-Pritchard
Last Updated: 10:05PM BST 29 Mar 2009Arkady Dvorkevich, the Kremlin’s chief economic adviser, said Russia would favour the inclusion of gold bullion in the basket-weighting of a new world currency based on Special Drawing Rights issued by the International Monetary Fund.
Chinese and Russian leaders both plan to open debate on an SDR-based reserve currency as an alternative to the US dollar at the G20 summit in London this week, although the world may not yet be ready for such a radical proposal.
Mr Dvorkevich said it was “logical” that the new currency should include the rouble and the yuan, adding that “we could also think about more effective use of gold in this system”.
The Gold Standard was the anchor of world finance in the 19th Century but began breaking down during the First World War as governments engaged in unprecedented spending. It collapsed in the 1930s when the British Empire, the US, and France all abandoned their parities.
It was revived as part of fixed dollar system until US inflation caused by the Vietnam War and “Great Society” social spending forced President Richard Nixon to close the gold window in 1971.
The world’s fiat paper currencies have lacked any external anchor ever since. It is widely argued that the financial excesses and extreme debt leverage of the last quarter century would have been impossible – or less likely – under the discipline of gold. –more–
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Video Ron Paul explaining the G20 summit simply
This video previously posted March 16th on this Blog
Ron Paul says there would be no need for the G20 meeting if there was a Gold Standard
Financial crisis is just the symptom
We forgot so much – health is the next crash – it will supersede all others – and unlike financial affairs – man made cheating and spin won’t help – only right living will – the industrial profit driven food industry is the link to the failing immunity.
The food industry like all other is profit driven. How could it not fail? We hear of Immune deficiency, anti biotic resistance, obesity and fertility problems. All the warning signs are there.
The bible makes some mention of leg braces (maybe there was an operation) and the importance of salt with some dietary rules. Yet it is not enough for a health formula. Ayurveda is just as old and it does offer a complete program for health.
Meanwhile Monsanto and similar corporations are denourishing our intake. And like the cigarette companies would deny wrongful health effects, so now do the Food lobbies.
The financial debacle is just the symptom we ignore the consequences.
A world crisis we know we have, maybe ethnicity will fade when faced with an animal like fight for survival. Water, wherever America goes, it says it wants to provide piped water. Actually fresh running water is more healthy.
Time to rethink. Events are poised to overtake us.
And the G20 meet could make us think of the ancillary issues, fossil fuels etc.
G20 Protests London April 1st, Alternative conference, and print your own money
Flash required for the video above
also available here: http://www.youtube.com/watch?v=hl-IfrMh6cI
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[See also: Video Ron Paul explaining the G20 summit simply]
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On April 1st, we’ll show the G20 what meltdown means.
Lost your home? Lost your job? Lost your savings or your pension? This party is for you!
Capitalism has been heating up our world for years, melting the icecaps, burning up the rainforests, pushing the planet to tipping point. Now we’re going to put the heat on them. At the London Summit , the G20 ministers are trying to get away with the biggest April Fools trick of all time. Their tax-dodging, bonus-guzzling, pension-pinching, unregulated free market world’s in meltdown, and those fools think we’re going to bail them out. They’ve gotta be joking! –more–
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What always happens on days like this is the tubes break down, there are horrendous traffic jams and many can not make it to the demos. .The dogooders that wish a better a world are no match for the organised secret services. The police are currently downplaying any concern for unruliness, saying the right to peaceful protest is no problem. . London has on many occasions seen demos go on for hours until the night with burning dustbins etc. . Once I was watching from a distance and suddenly police were running by – only to surround everyone and herd us into a mammoth crammed cattle like square. And some of them were mean. Rumour had it that some kind of radiowaves were being blasted at us to pacify everyone. . Prior to this police action there were groups of agents provocateurs trying to stampede people by (repeatedly) running by in a frantic manner. .
Still there is every possibility the protests will be huge .
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March 18, 2009
Summit police fear attacks on hotels used by the G20 leaders
Security will be bolstered against ‘guerrilla’ raids
Security for the world leaders attending next month’s G20 summit in London is being stepped up amid fears that violent protesters will find out where they are staying.Police have received intelligence reports that hotels and other buildings could become the target of “guerrilla-style raids” by anti-globalisation groups and are increasing the number of close protection officers that will be stationed at each location.
All police leave has been cancelled in London for the first two days of next month – the summit is on April 2 – and thousands of uniformed officers will be on the streets to prevent legitimate protests from being hijacked by violent activists after indications that there will be the worst public disorder in a decade.
Anarchist groups and environmental activists are already collaborating on a series of demonstrations, which are being advertised with slogans such as “Storm the Banks” and “Bash a Banker”. One website urges demonstrators to “express their rage” and promises “a day of f***ing up the summit and other adventures” on April 2. –more–
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Click the title above for links of the list of speakers who are Members of Parliament and Economists etc.
Soros sees no bottom for world financial “collapse”
NEW YORK (Reuters) – Renowned investor George Soros said on Friday the world financial system has effectively disintegrated, adding that there is yet no prospect of a near-term resolution to the crisis.
Soros said the turbulence is actually more severe than during the Great Depression, comparing the current situation to the demise of the Soviet Union.
He said the bankruptcy of Lehman Brothers in September marked a turning point in the functioning of the market system.
“We witnessed the collapse of the financial system,” Soros said at a Columbia University dinner. “It was placed on life support, and it’s still on life support. There’s no sign that we are anywhere near a bottom.”
His comments echoed those made earlier at the same conference by Paul Volcker, a former Federal Reserve chairman who is now a top adviser to President Barack Obama.
(Reporting by Pedro Nicolaci da Costa and Juan Lagorio; Editing by Gary Hill) –more–
HatTip whatreallyhappened
Quotes on the evil of Fiat Money
I made a post on October 19, 2008 full of quotes about Fiat money, with an attempt at linking them with a narrative. I failed.
So this is a repost with just the quotes. Gold is now over a thousand dollars an ounce, and all the evil of our world is quantified in Fiat money.
So maybe this is more timely now. It seems that globalisation, Banks and Fiat money are anyway collapsing.
A commenter [Federal Reserve] said:
On September 29, 2008 at 10:30 pm Seven Star Hand
“Most people have no idea that the common-denominator math of all the world’s currencies forms an endless loop that generates debt faster than we can ever generate the value to pay for it. Those who scoff at this analysis have simply failed to do the math. Consequently, this civilization is verifiably based on purposeful and institutionalized deception, coercion, and exploitation. The time is long overdue to change the human equation and end the root causes of most injustice and suffering.” Seven Star Hand
Not only is the so-called Fed a great deception, but money itself is verifiably and undeniably evil. The time has arrived to finally “kill the beast” and take our civilization away from the evil cabals that control all money and banking.
Karl Marx:
Bring paper money into a country where this use of paper is unknown, and everyone will laugh at your subjective imagination.
Marx, Doctoral Thesis, Appendix (1841) SOURCE
If the world were split in half, and one half kept using money and the other didn’t, I might choose the one with money. But I would rather it was real money. And that a whole banking class was not taxing the system and using those taxes (their profits, bonuses and salaries for right wing neo colonial ventures.
The New York Times [2007] had a fascinating article on Saturday by Don Van Natta Jr. about a new cabal of rich conservatives who are gearing up to do battle with the rich liberals at MoveOn.org.
The group is called Freedom Watch, and its goal is to take a hard line against Iran and pursue other foreign-policy and domestic issues. The article says Freedom Watch aims to raise $200 million by next fall, which “will be easy,” according to an anonymous benefactor. SOURCE
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Henry Ford,
It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.
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The Global Ditch: Is Eastern Europe Primed to Explode?
Orders in the manufacturing sector, Quarter 4 2008 (Japan, Eurozone, United Kingdom, China, India) - Sources : MarketOracle / JPMorgan. This Graph NOT from the article below
By MIKE WHITNEY
Eastern Europe is about to blow. If it does, it could take much of the EU with it. It’s an emergency situation but there are no easy solutions. The IMF doesn’t have the resources for a bailout of this size and the recession is spreading faster than relief efforts can be organized. Finance ministers and central bankers are running in circles trying to put out one fire after another. Its only a matter of time before they are overtaken by events. If one country is allowed to default, the dominoes could begin to tumble through the whole region. This could trigger dramatic changes in the political landscape. The rise of fascism is no longer out of the question.
The UK Telegraph’s economics editor Edmund Conway sums it up like this:
“A ‘second wave’ of countries will fall victim to the economic crisis and face being bailed out by the International Monetary Fund, its chief warned at the G7 summit in Rome….But with some countries’ economies effectively dwarfed by the size of their banking sector and its financial liabilities, there are fears they could fall victim to balance of payments and currency crises, much as Iceland did before receiving emergency assistance from the IMF last year.” (UK Telegraph)
Foreign capital is fleeing at an alarming rate; nearly two-thirds gone in matter of months. Deflation is pushing down asset prices, increasing unemployment, and compounding the debt-burden of financial institutions. It’s the same everywhere. The economies are being hollowed out and stripped of capital. Ukraine is teetering on the brink of bankruptcy. Poland, Latvia, Lithuania, Hungary have all slipped into a low-grade depression. The countries that followed Washington’s economic regimen have suffered the most. They bet that debt-fueled growth and exports would lead to prosperity. That dream has been shattered. They haven’t developed their consumer markets, so demand is weak. Capital is scarce and businesses are being forced to deleverage to avoid default. All of Eastern Europe has gotten a margin call. They need extra funds to cover the falling value of their equity. They need a lifeline from the IMF or their economies will continue to crumble.
The UK Telegraph’s economics correspondent Ambrose Evans-Pritchard has written a series of articles about Eastern Europe. In “Failure to save East Europe will lead to Worldwide meltdown” he says:
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Catastrophic Fall in 2009 Global Food Production
Global Research, February 10, 2009
The countries that make up two thirds of the world’s agricultural output are experiencing drought conditions. Whether you watch a video of the drought in China, Australia, Africa, South America, or the US , the scene will be the same: misery, ruined crop, and dying cattle. –more–
Also see:
Graph of wheat prices, Guardian
Food is going to be scarcer, and Russia has only shown us how weak we are: Guardian and Times (UK)
BBC: Prime Minister tells British; Stop wasting food
World Agenda: riots in Iceland, Latvia and Bulgaria are a sign of things to come
From January 21, 2009Our third global political column explores the start of an age of rebellion over the financial crisis – beginning in Iceland
(Halldor Kolbeins/AFP/Getty Images)
Icelanders vented their fury at the political class’s handling of the financial crisis by staging angry protests in Reykjavik
TipoftheHat whatreallyhappened
