6139008-History-of-Money

funds and health care costs in financial statements later this year. Congress is debating a new law that will forcecompanies to start plugging the gaps in their pension plans. New rules may require companies to use cash or borrow tomeet obligations to millions of pensioners. Fixing the retirement funds could cause bond losses of $24 billion, based oninvestor reaction. Legislators are not going to allow the taxpayer to bail out corporate malfeasance. Our estimate forunder funding is move than $1 trillion. The Pension Benefit Guaranty Corp. insurer for companies with unfunded pensions,assumed responsibility for 120 plans with 235,000 members already and they are in debt some $28 billion. The plans willbe fully funded, but almost all companies will abandon them now that they cannot screw their employees any longer.It is small wonder the public holds Congress in such low esteem, only six months away from election, with a federalbudget deficit out of control, a war that is a disaster in every sense of the word, with military spending totally out ofcontrol and with public services being slashed, Congress gives us $70 billion in tax cuts, mostly for the rich. This comes asmiddle-income workers face sky-high fuel prices, soaring health costs, and variable-rate mortgage payments that aregoing through the roof. Not only is the tax cut politically and fiscally irresponsible, but it is obscene. We have to includethe two-year extension of capital gains and dividend cuts and a one-year extension of relief from the AMT. Eighty-sevenpercent of the benefits of tax cuts will go to 14% of households earning above $100,000 a year; 22% of the benefits go tothe richest two-thirds of 1% of households earning more than $1 million a year. Why do wealthy Americans need a taxcut? That is when the gap between rich and poor is wider than it’s been in a century. The rich now pay a smallerpercentage of income in taxes than at any time in the last 75 years. We no longer have a graduated income tax, and thetrickle down theory doesn’t work. The rate of new investment during this recovery has trailed the rate of investmentduring the three previous recoveries. Almost nothing has trickled down. Productivity is up marginally, but the currentmedian wage of about $35,000 is what it was five years ago due to offshoring and outsourcing. While top executives areraking in 7 and 8 digit compensation packages, middle-class workers are getting screwed. Remember, all this inNovember, and except for a handful throw every one of these Congressmen and women out of office.Morgan Stanley’s Stephen Roach has done a 180-degree turn. First he tells us the World financial situation is going to bejust fine, now he tells us we have a commodities bubble. If he is wrong on these two issues, and he will be, his reputationwill be destroyed. As we have said often, economists are captive to corporate and governmental interests and they cannottell you the truth if they wanted too. Prices of commodities are up 200% over the past five years and they have to doubleagain just to catch up with inflation. Mr. Roach seems to have overlooked that or the fact that inventories are at all-timelows. That doesn’t matter though. When Morgan Stanley tells him to change his tune, he changes it. Thus, Mr. Roach tellsus that, purely from the standpoint of global macro we have a bubble. Did it ever occur to this economist that allgovernment statistics are bogus, particularly those of the CPI and unemployment? He obviously hasn’t grasped that asyet. His masters, employers, could very well be short the commodities. He doesn’t tell us whether they are or are not. Ifhe doesn’t know we suggest he find out. As per usual, he probably doesn’t want to know. As Mr. Roach tells us the basicpremise of this new era of globalization has unleashed a powerful strain of commodity-intensive global growth that hascaught a supply-constrained World largely by surprise. He is right but fails to add that this same globalization is guttingthe former industrialized World and that inflation is over 10% annually in spite of lower wages. The problem is thedemand has run loose and the elitists cannot contain it. If they shut off the fiat money and credit the whole systemcollapses. This is not a bubble. The demand is there and the supply and inventory is not there. In the case of gold andsilver, it is the same but they are also driven as the only real currencies. All these nations to varying degree havecheapened the value of their currencies and so there is a flight from these currencies into real unfettered assets such asgold and silver.Mr. Roach tells us to play the commodity bubble at your own peril, yet we see no similar admonition regarding a stockmarket Mr. Roach has to know is rigged. He is not dumb, so he knows. Thus again, we are treated with elitist propagandawith no one in the mainstream media or among newsletter writers who dares challenge his fallacies. There is no questionour government, England and Israel are engaged in a secret war against Iran that is similar to the part played inAfghanistan when the Soviets occupied that country. This time it’s covert operations involve the Kurdish militias and rebelIranian elements. This harks back to our creation and employment of Osama bin Laden. Our elitist Neocons are doingeverything possible to foment war with Iran. Venezuela is considering selling its fleet of US-made F-16 fighter jets toanother country, perhaps Iran, in response to a US ban on arms sales to Venezuela. It has already been a long time sincesensitive upgrades and replacement parts were supplied by the US. We expect Mr. Chavez to purchase new jets fromRussia or China shortly. George and the Neocons say Venezuela is not cooperating. What that means is Mr. Chavez is notlying down before the Illuminist masters in Washington and London. This means prohibition on all commercial arms salesand licensing of defense articles and services to Venezuela. The excuse is Venezuela is harboring and providing a safehaven to FARC and the National Liberation Army. There is no proof of that. We would expect that once all the Citgointerests in the US are sold off that Mr. Chavez will then wean the US off Venezuelan oil.The Washington Post-ABC News Poll tells us 69% of our citizens believe our nation is now off track, 56% say they’d preferto see Democrats in control of Congress after the elections. When asked if they were inclined to reelect their currentrepresentative to Congress, 55% said they would look for a change. That is almost the same percentage when theRepublicans took control in 1994. Democrats have an edge, but 52% said Democrats offered no sharp contrast. That inturn leaves the door open to Independents and challengers. This poll shows Bush’s approval rating at 33%, down 5% inbarely a month and a new low in this poll. Bush’s disapproval ratings among Republicans has nearly doubled in the pastmonth from 16% to 30% while his approval rating fell below 70%. Ninety percent of Democrats and 70% of Independentsdo not like the job Bush is doing. Only 37% believe Iraq has been worth the cost, the lowest ever, and 63% believe thewar has not been worth it – a view shared by 80% of Democrats, 70% of Independents and 33% of Republicans. Forty-sixThe Hidden History Of Money & New World Order Usury Secrets Revealed at last! Page 512