Thursday, July 17, 2008

Something Big is Happening

If you have ANY doubts that we are facing a financial disaster of historical proportions, please read every article linked in this post.

In Oklahoma we know that when the storm sirens start wailing in our area, it is time to quit fooling around and get to a safe place fast. A destructive tornado is on the way. The financial warning sirens are screaming everywhere -- except in most of the controlled US press. Determine now for you and your loved ones to reach a place of more financial safety. You can't depend upon your government officials and main stream media to help you.

Former Presidential candidate and Congressman Ron Paul warns that "
Something Big is Happening." He clearly explains why the world economy and political system faces a crisis like never before. Our peace and prosperity rest on a fragile philosophic infrastructure that may easily be cast aside to deal with the financial tsunami speeding toward us.

The dollar boom that began after Nixon abandoned the last vestige of the gold standard in 1971 has inflated all world currencies and caused gross mal-investment. If our politicians make the wrong choices (likely), stagflation will become in inflationary depression.

The only answer is to abandon the policies that brought us to this point and adopt policies of real political and economic freedom. Absent that, the American Dream, and the hope it brought Americans and the world, is finished. Dr. Paul says "Time is short for making a course correction before this grand experiment in liberty goes into deep hibernation."

In "
The Financial Collapse Edges Closer, " Martin Hutchinson talks about the possible implosion of the US banking system as the Federal Reserve creates massive amounts of new money to bail out Fannie Mae, Freddie Mac and the new crises that present themselves in coming weeks. Showing some guarded optimism, he concludes "Thus a total collapse of the US financial system, while not inevitable, is a contingency which should now be planned for."

And if you're still in denial about our dire situation, then read Devvy Kidd's "
Freddie & Fannie: Unconstitutional Bail Out Using What?" She also details how a the "financial catastrophe so many have been warning about for decades [is] coming home to roost."

David McAlvaney's
latest podcast discusses the implications of the Fannie-Freddie bailouts, the IndyMac closing, and the latest in the financial tsunami. Doug Casey's latest chart shows that heating oil inventory hit record lows this year, just as prices hit record highs. Higher prices and shortages loom ahead of the next winter. Casey offers some practical advice on how to protect yourself from the coming "Greater Depression." Take it.

Folks, I can't overemphasize how serious this situation is. We are not -- I repeat -- not going to somehow muddle through this. When I first started studying the monetary system almost 40 years ago I saw the problem. The same economic laws are in effect. We've had several narrow escapes from financial catastrophe. But this time, all the elements in are in place for a "perfect storm," a financial tsunami.

For a little bit of comic relief (and a look at blatant lying from our "leaders") Jon Stewart gives a
humorous take on how President Bush and Fed Head Bernanke both spoke on the economy at 10:20 am on July 15. They basically cancelled each other out!

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