There seems to be a little problem if you are an American today, as opposed to an Australian, a Russian, a Frenchman, etc. Americans on the one hand seem to believe in the almighty dollar, and the dollar system. On the other hand, the others increasingly out of various sorts of "schadenfreude", joy in others misfortunes, more and more with the dollar to collapse 20 to 50 or more percent. What is wrong with this picture?
My dear Americans and non-Americans forget that George Pratt Schultz and company, while Nixon was present took the dollar off the gold exchange, fixed rate system and created a floating rate system instead. This system made the dollar in effect, no longer a US currency, but a kind of World Currency of the International Monetary Fund (IMF) system. So if because of the insanity of George Bush (the younger) and the thug-like mad shooter Dick Cheney, you wish to see the US dollar crash, there is one big problem. In effect there is no US Dollar anymore, there is a currency called the US Dollar that has been turned into a world wide fiat money, which if it crashed will create a 14th century style Bubonic plague, new dark age type of collapse. I mean, this is a possibility, already the amount of poverty and disease in the world is truly staggering. But, screwing up the Americans is not the answer. In a certain sense, it is not even the question!!!
Despite the games of the likes of Felix Rohatyn and Wilbur Ross, the US Auto industry and a good chunk of the world auto industry is going down the tubes. You can invest in Wilbur Ross' Hedge Funds and make a quick buck, but when the parasite destroys the host, the parasite will perish as well.
If we put the system into a bankruptcy reorganization, we can go back to having a US Dollar, and other currencies. Of course Euroland will have to go back to national currencies. They can use the Euro for accounting purposes, but the current Anglo-
dutch system means slavery to the private banking system, to globalization.
But what was the turning point in this process of decadence? It was after the Oct 1987 stock crash, when several months later, Alan Greenspan came into the Fed, and hit us with derivatives. And this is a totally willful decision. Do n't give me your free market doodoo mantra!! They created a new type of currency called derivatives, the side bets in the gambling casinos. The whole bunch of new instruments. Puts, collars, swaps, you name it.
The real estate bubble was created by a willful decision to use Fannie Mae and Freddie Mac to buy up all and any mortgages, and create $6 trillion of Mortgage Backed Securities, including,,,,,you guessed it , derivatives associated with the MBSs. So kids, it will also be a willful decision by the US Congress, to reverse this insanity. Mortimer Snerd and his nasty friend Cheney will just have to step aside. Or a double impeachment would certainly be an interesting spectacle.....
My dear Americans and non-Americans forget that George Pratt Schultz and company, while Nixon was present took the dollar off the gold exchange, fixed rate system and created a floating rate system instead. This system made the dollar in effect, no longer a US currency, but a kind of World Currency of the International Monetary Fund (IMF) system. So if because of the insanity of George Bush (the younger) and the thug-like mad shooter Dick Cheney, you wish to see the US dollar crash, there is one big problem. In effect there is no US Dollar anymore, there is a currency called the US Dollar that has been turned into a world wide fiat money, which if it crashed will create a 14th century style Bubonic plague, new dark age type of collapse. I mean, this is a possibility, already the amount of poverty and disease in the world is truly staggering. But, screwing up the Americans is not the answer. In a certain sense, it is not even the question!!!
Despite the games of the likes of Felix Rohatyn and Wilbur Ross, the US Auto industry and a good chunk of the world auto industry is going down the tubes. You can invest in Wilbur Ross' Hedge Funds and make a quick buck, but when the parasite destroys the host, the parasite will perish as well.
If we put the system into a bankruptcy reorganization, we can go back to having a US Dollar, and other currencies. Of course Euroland will have to go back to national currencies. They can use the Euro for accounting purposes, but the current Anglo-
dutch system means slavery to the private banking system, to globalization.
But what was the turning point in this process of decadence? It was after the Oct 1987 stock crash, when several months later, Alan Greenspan came into the Fed, and hit us with derivatives. And this is a totally willful decision. Do n't give me your free market doodoo mantra!! They created a new type of currency called derivatives, the side bets in the gambling casinos. The whole bunch of new instruments. Puts, collars, swaps, you name it.
The real estate bubble was created by a willful decision to use Fannie Mae and Freddie Mac to buy up all and any mortgages, and create $6 trillion of Mortgage Backed Securities, including,,,,,you guessed it , derivatives associated with the MBSs. So kids, it will also be a willful decision by the US Congress, to reverse this insanity. Mortimer Snerd and his nasty friend Cheney will just have to step aside. Or a double impeachment would certainly be an interesting spectacle.....
