By Madison Ruppert - BLN Contributing Writer
In an attempt to reassure Americans that we will not default on our debt, former Chairman of the private Federal Reserve Alan Greenspan revealed the delusional mindset that has brought us to this precipice.
Greenspan absurdly claims that the sharpest drop in stocks since 2008 is actually due to Euro zone fears and not flawed American economic policy. This statement is exemplary of the condescending attitude harbored by the elite, assuming that we are not capable of reading the writing on the wall.
It doesn’t take an economist to connect the complete lack of spending cuts in the debt ceiling deal and the Down Jones Industrial Average’s performance today.
The mainstream media coverage of our current economic climate is similarly contradictory and nonsensical.
The New York Times correctly pins the massive drop in stocks to increased fears about our stagnating economy coupled with the lack of government ability to spur growth, and yet claims that the downgrade is not an equally powerful contributing factor.
The problem is in the NYT’s logic: they connect the lack of Treasury security dumps with continued investor confidence in the American economy and our government’s ability to pay back the behemoth debt created by the criminal private Federal Reserve.
The flawed logic lies in not attributing the continued holding of U.S. Treasury bonds with the European Union’s debt crisis.
With the economy as it is and the global engineered debt crisis crippling every economy under the veil of “free trade” and “capitalism”, there are few nations to which a securities trader can flee.
Obama’s baseless assurances did nothing to mitigate the fact that people around the world are realizing that they have been had, yet again.
Stocks were being rapidly dumped while Obama attempted to assure the market by saying that America’s “problems are eminently solvable and we know what need to do to solve them.”
If Obama, or anyone in the House or Senate had any idea how to solve our problems, why would they wait this long?
The unfortunate reality is that our bloated government, the cancerous lobbies and bought-and-paid-for politicians remain in place and thus will continue to spend as if we had any money to spend.
Based on Greenspan’s statements along with the Chairman of the White House’s Council of Economic Advisers, Austan Goolsbee, it is clear our government is going to do the following: blame the stock fire sale on fears about European debt and continue their destructive economic policy known as Quantitative Easing.
Greenspan made this clear in his appearance on NBC’s Meet the Press,
“The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.”
Excuse me? Greenspan is saying that we can borrow more money to pay back what we have already borrowed?
I can’t wrap my head around borrowing to pay back borrowed money when the interest will just continue to rise and the dollar will continue to be devalued to the point of hyperinflation.
This plan of Greenspan’s, which is likely shared by the corrupt Board of Governors at the private Federal Reserve, is just going to drive the dollar into oblivion while piling on more crippling manufactured debt.
We know how government stimulus plans have worked in the past, that is: they don’t stimulate the American economy but instead stimulate the bank accounts of the already absurdly wealthy offshore banking cartels.
The mainstream media continues to refer to a “crisis in Europe” and a “danger of recession at home”, deliberately deflecting attention from the crisis in America and the current recession at home.
Today’s dramatic drop in the Down Jones Industrial Average is the sixth-steepest in history.
The above linked AP article continues to promote refuge in U.S. debt bonds regardless of the S&P downgrade and the proposed solution of further debasing the value of the American dollar.
They briefly mention the move to gold, which they strangely forget to mention shot above record prices in reaction to the stock sell off.
To make matters even worse for the future of the American economy and our continuously growing black hole of fraudulent debt and hundreds of trillions more in obligations, Moody’s is now threatening to downgrade our credit rating as well.
The world seems to be just now realizing that the government handling of the economy is completely fraudulent and corrupt. The record flight from stocks and toward physical assets just reinforces this.
We must make it clear to our so-called representatives that we will not sit by idly while the private Federal Reserve continues to print money and destroy our currency and economy.
Our IP Address: