The Present Crisis And The Future Catastrophe

An article from The Mogambo Guru: http://www.atimes.com/atimes/Global_Economy/JE28Dj01.html "...Quickly summarizing, in just a few weeks, a third of the Fed's entire stash of government debt, accumulated bit by bit since the Fed was first authorized by a few Congressional conspirators on Christmas Eve, 1913, has been used up by the Fed trying to paper over its own horrific mistakes! Yikes! Ron Paul was right; we have to abolish the Federal Reserve! Apparently, everybody is cheered that the new official, government-determined and government-sanctioned inflation is 3.9%, which makes me laugh to think that anybody in their right mind would believe that, and then which makes me howl in anger because the damned Federal Reserve and a willing co-conspirator Congress (except Ron Paul) allowed this to happen by allowing the banks to create so much excess money and credit, so astonishingly much excess money and credit, so stupidly and criminally irresponsibly much excess money and credit, for so many months, so many years and so many decades, which doesn't even mention the fact that throughout all the rest of human history, 3% inflation was considered to be the cut-off between "High" and "Emergency! Emergency!", but which is actually ignored today! ..." ---------- We also have: http://www.atimes.com/atimes/Global_Economy/JE24Dj02.html Oil price mocks fuel realities By F William Engdahl You may have anticipated that, if "Speculators" are responsible for the increase in the price of oil, then how has our "hands off " government assisted them? 1) The Federal Reserve has provide massive liquidity, 2) "US margin rules of the government's Commodity Futures Trading Commission allow speculators to buy a crude oil futures contract on the Nymex by paying only 6% of the value of the contract. At the present price of around $130 per barrel, that means a futures trader only has to put up about $8 for every barrel. He borrows the other $120. " 3) The hedge funds involved are not regulated, nor does it seem that they will be...until the present crisis evolves into the future catastrophe. Resignation Now!