how are we going to weather the meltdown?
myant asked:
Is America going to financially collapse?
Dr. Larry Bates, a former bank CEO, a former member of the
Tennessee House of Representatives,
where he was chairman of the powerful committee on
banking and commerce
how did we get in such a mess?
This country has always done so well economically.
Well the prosperity has been a facade,
We have a debt-based monetary system.
In 1913 we gave a private bank called
the Federal Reserve, which by the way is neither federal
and has doubtful reserves, it is a private bank
that is owned by member banks… why do we call it federal?
thats part of the ruse, you know in
Germany one of the old banking families,
Nathan Rothschild, said, “Give me control of a nations
monetary system and I care not who writes their laws.”
If you get control of a nation’s monetary system,
you control everything that is going on.
we have more debt than there is cash.
We have roughly a forty trillion dollar domestic debt.
But see that is not the worst part of it,
we have the hedge funds, the derivatives, we estimate
that the notional value, and I emphasize “notional value”
is over four hundred trillion dollars.
Three times,the total domestic debt
of the entire world, and this is what is unraveling right
now, it is leverage upon leverage upon leverage.
How do we service debt? With money.
Our personal walk around money is about 8 trillion so minus that from the 40 trillion gives us thirty-two trillion of the
debt…the debtors have been asked to do the impossible,
pay back money that does not exist
Where does the buck stop, does it stop with the most
powerful person in the United States,
the President of the United States?
Ultimately we will have a collapse,
The Federal Reserve quite frankly over the past
five to ten years lost control of monetary policy.
The most power is not the President, but the
Chairman of the Federal Reserve.
There is either going to be a collapse or it is going to be
printing of money, which means big inflation.
The President can do very little,
the only thing any president can do to help
the economy is reduce your taxes.
Now the recent Nobel Prize winner in economics at the
University of Arizona, or Arizona State University in
Tempe, criticized President Bush because he said he
didn’t ask for enough tax cuts, and I agree with him.
We have one candidate that is saying I am going to lower
taxes for 95 percent of the American people, well forty to
forty-five percent of the American people pay no taxes,
so mathematically that is impossible to lower taxes.
So is the candidate talking about
additional welfare programs?
In reality the only thing the president can do is
reduce the size and scope of government and reduce your
taxes. Who really runs the country.
The Chairman of the Federal Reserve,is more powerful than any president of the United States,he determines what the average persons car payment is going to be, what their house payment is going to be,
even whether they have a job or not.
That is total control.
we are in a crisis, we are in one big mess.
People that have money in banks,
it is guaranteed, FDIC insurance, to what,
a hundred thousand dollars?
two hundred fifty thousand
for retirement plans.
Well the FDIC can cover roughly one and a half cents on the dollar John Maynard Keynes,
the architect of our current economic system,John Maynard Keynes wrote a book back in 1920 called,
“The Economic Consequences of the Peace.”
He said by continuing process of inflation,
governments can confiscate secretly and unobserved
an important part of the wealth of its citizens.
He said there is no more sure; no more subtle way
to overturn the existing basis of society
than to debouch or destroy the currency.
Now listen to this, he said it engages all of the
products of economic law that come down on the
side of destruction and does it in a manner that not
one person in a million can diagnose.
So are there solutions to this crisis?
Oh absolutely.
How about our money in life insurance companies?if the people they have loaned your money to can’t pay them can they pay you?
As a banker I have literally
created millions of dollars out of thin air with a stroke of
my pen, it is what we call PFA banking; pluck from air.
Then we charge interest on that which we create out
of nothing under the fractional reserve banking system.
I have paid for agricultural real estate, I have residential
real estate paid for, I have gold and silver coins and I have
cash in money markets and CD’s,
cash at the crash will be king, I practice what I preach.
gold and silver is money, anything else is credit.
Gold and silver are the only monetary assets
We are at the tipping point,I believe we have a minimum of two years,
maximum of five years to get or house in order.
there are three DVD’s we are making
available, Economic and Political Crisis, strategies
for weathering any crisis while keeping
FOR MORE INFO AND THE FULL STORY THAT CAN NOT BE PRINTED ON YAHOO FOR SPACE SAKE…GO TO: www.sidroth.org
Is America going to financially collapse?
Dr. Larry Bates, a former bank CEO, a former member of the
Tennessee House of Representatives,
where he was chairman of the powerful committee on
banking and commerce
how did we get in such a mess?
This country has always done so well economically.
Well the prosperity has been a facade,
We have a debt-based monetary system.
In 1913 we gave a private bank called
the Federal Reserve, which by the way is neither federal
and has doubtful reserves, it is a private bank
that is owned by member banks… why do we call it federal?
thats part of the ruse, you know in
Germany one of the old banking families,
Nathan Rothschild, said, “Give me control of a nations
monetary system and I care not who writes their laws.”
If you get control of a nation’s monetary system,
you control everything that is going on.
we have more debt than there is cash.
We have roughly a forty trillion dollar domestic debt.
But see that is not the worst part of it,
we have the hedge funds, the derivatives, we estimate
that the notional value, and I emphasize “notional value”
is over four hundred trillion dollars.
Three times,the total domestic debt
of the entire world, and this is what is unraveling right
now, it is leverage upon leverage upon leverage.
How do we service debt? With money.
Our personal walk around money is about 8 trillion so minus that from the 40 trillion gives us thirty-two trillion of the
debt…the debtors have been asked to do the impossible,
pay back money that does not exist
Where does the buck stop, does it stop with the most
powerful person in the United States,
the President of the United States?
Ultimately we will have a collapse,
The Federal Reserve quite frankly over the past
five to ten years lost control of monetary policy.
The most power is not the President, but the
Chairman of the Federal Reserve.
There is either going to be a collapse or it is going to be
printing of money, which means big inflation.
The President can do very little,
the only thing any president can do to help
the economy is reduce your taxes.
Now the recent Nobel Prize winner in economics at the
University of Arizona, or Arizona State University in
Tempe, criticized President Bush because he said he
didn’t ask for enough tax cuts, and I agree with him.
We have one candidate that is saying I am going to lower
taxes for 95 percent of the American people, well forty to
forty-five percent of the American people pay no taxes,
so mathematically that is impossible to lower taxes.
So is the candidate talking about
additional welfare programs?
In reality the only thing the president can do is
reduce the size and scope of government and reduce your
taxes. Who really runs the country.
The Chairman of the Federal Reserve,is more powerful than any president of the United States,he determines what the average persons car payment is going to be, what their house payment is going to be,
even whether they have a job or not.
That is total control.
we are in a crisis, we are in one big mess.
People that have money in banks,
it is guaranteed, FDIC insurance, to what,
a hundred thousand dollars?
two hundred fifty thousand
for retirement plans.
Well the FDIC can cover roughly one and a half cents on the dollar John Maynard Keynes,
the architect of our current economic system,John Maynard Keynes wrote a book back in 1920 called,
“The Economic Consequences of the Peace.”
He said by continuing process of inflation,
governments can confiscate secretly and unobserved
an important part of the wealth of its citizens.
He said there is no more sure; no more subtle way
to overturn the existing basis of society
than to debouch or destroy the currency.
Now listen to this, he said it engages all of the
products of economic law that come down on the
side of destruction and does it in a manner that not
one person in a million can diagnose.
So are there solutions to this crisis?
Oh absolutely.
How about our money in life insurance companies?if the people they have loaned your money to can’t pay them can they pay you?
As a banker I have literally
created millions of dollars out of thin air with a stroke of
my pen, it is what we call PFA banking; pluck from air.
Then we charge interest on that which we create out
of nothing under the fractional reserve banking system.
I have paid for agricultural real estate, I have residential
real estate paid for, I have gold and silver coins and I have
cash in money markets and CD’s,
cash at the crash will be king, I practice what I preach.
gold and silver is money, anything else is credit.
Gold and silver are the only monetary assets
We are at the tipping point,I believe we have a minimum of two years,
maximum of five years to get or house in order.
there are three DVD’s we are making
available, Economic and Political Crisis, strategies
for weathering any crisis while keeping
FOR MORE INFO AND THE FULL STORY THAT CAN NOT BE PRINTED ON YAHOO FOR SPACE SAKE…GO TO: www.sidroth.org
5 Responses on how are we going to weather the meltdown?
I have plenty of gold coins stockpiled in Gringotts
I like bunnies!
Lower taxes, proper regulation {not government intrusion} free market solutions, cut government spending!
We’ll get through it like we get through everything else. Americans will pull together and solve the issues. The economic situation is serious, but definitely solvable. A free market system will ultimately succeed, we just need to provide less welfare and liberal programs.
plant crops
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