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Comptroller of the United States Warns of Pending Economic Disaster

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posted on Oct, 29 2006 @ 06:47 PM
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Global econmic collapse is all but a certainty and i cant see how the US could possibly avoid it, maybe this is why Bush has just passed laws regarding Martial Law? Are we that close to meltdown?

Buy Gold and Silver as a hedge, but just remeber you cant Eat Gold and Silver.

This report from the british Government that will be circulating world headlines as of today demonstrates how global warming will cause a depression worse than that of the 1930s.


Global Warming Latest and Largest Study




The world's biggest economic evaluation of climate change says if countries do not act now the world will face a depression worse than that of the 1930s.
The report puts the global cost of global warming and its effects at $A9 trillion - a bill greater than the combined cost of the two world wars and the Great Depression. It represents a fifth of the global economy.



Obviously the World will refuse or indeed be unable to act NOW.

But maybe this is the excuse they need to allow economies to crash and perhaps come up with some sort of one World currency that protects the US and others from Bankruptcy ?




posted on Oct, 29 2006 @ 06:49 PM
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posted by osram

Manipulation. Precisely...I really don't know much about economy, but here's a very interesting link related to currency and how the dollar, together with the whole economic system, is a piece of crap.

Maybe the american situation has to be understood as an opportunity rather than feeling hopeless. Because the situation is the same all over the world, it just isn't as evident as it is in america right now.

Power to the people.



Surely you know what to do November 7. Take back America.



posted on Oct, 29 2006 @ 06:56 PM
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the people are not going to change until it smacks us in the face and the people with the real power will run out like rats to a sinking ship. this has been going on for some time. like my dad said, one day when we empty out the trash, the rusty bottom is going to collapse and all the trash is going to spill all over. the trash is you by the way. what can you do about it, nothing. buck the system with a little power and you end up missing and never found, like you did not exist.



posted on Oct, 29 2006 @ 07:37 PM
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posted by NumberCruncher

Global economic collapse is all but a certainty . . I cant see how the US could avoid it . . this is why Bush has just passed laws regarding Martial Law? Buy Gold as a hedge, but remember you can’t Eat Gold . . the British Government report demonstrates how global warming will cause a depression worse than the 1930s . . the World will refuse to act NOW . . maybe this is the excuse they need to allow economies to crash and come up with one World currency that protects the US and others from Bankruptcy? [Edited by Don W]



There is no sure money to be made in a world-wide economic collapse. We had that in 1929. Only WW2 allowed us to overcome its effects. And the US was the engine that pulled that train. It was made possible by the egalitarian regime put into place by the New Deal Democrats. Unions were favored. Top personal income tax bracket was 91%. Corporations were assessed an “Excess Profits Tax” to discourage price gouging. All important commedias were rationed. National speed limit 35 mph and enforced. Reminders to save 10% were everywhere. The OPA - Office of Price Administration - fixed prices. When the war ended, people had saved for 4 years and bought very little. Their pockets were full of money and the returning service men could buy a new house (Levitt Towns) for no money down and payments no more than rent. That kick started the post war boom that lasted 30 years. It worked once. Could we do it again?



[edit on 10/29/2006 by donwhite]



posted on Oct, 29 2006 @ 08:26 PM
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And they'll use this to further the fascist state that the US is becoming, like Hitler did with the economic crash. They'll bring the North American Union as a saviour, getting rid of the sovergnity of canada, usa and mexico. Bush signed martial law powers, military comission act, patriot act 1&2... FEMA camps are being built all over the country...

Why the crash? Bush administration link with corporations, war on terror and the FED.

POWER TO THE PEOPLE.

[edit on 29-10-2006 by Vitchilo]



posted on Oct, 30 2006 @ 07:34 AM
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Originally posted by donwhite

You'll Get Your Chance, Mr. osram, On November 7



Do i get my chance? I live in switzerland and strongly doubt that i am able to vote for american elections.

By the way: I am 22 yrs old and never voted for anything in my whole life.
Because i do not believe in democracy at all.. there is no democracy. Nowhere..
You guys vote for elections where the results are produced by the Media. I dont need to point out the parallels to the Hitler-Regime. Should be evident for everyone.

There is no place where the true Nazi-Face can be perceived as clear as in the USA.

1 vote, 2 presidents - No choice.

I'm not saying that in such a case one should not vote at all. Maybe there will really be a swing towards democrats.. but i hardly doubt anything will change with the current system in place.

I only hope something happens. Something to profoundly change towards good, instead of evil. Even with a high price to pay.

We will see...



posted on Oct, 30 2006 @ 08:57 AM
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Originally posted by osram


There is no place where the true Nazi-Face can be perceived as clear as in the USA.


Well ive never seen the Nazi face more clearly than in this video evidence from Lebanon.

Video Evidence


One thing that poor old America is losing for sure and thats the propaganda war.



posted on Oct, 30 2006 @ 08:58 AM
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What we call social security started in 1935. America was the last of the western industrialized powers to have it. Germany under Count von Bismark - the Iron Chancellor - was first in 1871. After the industrial revolution - the urbanization of the west - it was essential. In an agrarian setting, where extended families share a residence and all work for the good of the group, it is not so much needed. Grandparents often lived in the same house and were cared for by younger generations. When we moved to the city, that was no longer possible. For various reasons which include the advances of medical technology to prolong life. Pneumonia was called the “old person’s friend” because it was incurable and you died in your sleep. Penicillin cures pneumonia, so now what do you die of?

Every nation in the world has socialized medicine. Except the United States. For a lot of reasons. We are hobbling along with a broken health care delivery system that costs us more than any other nation by about 50%. That extra cost puts America at a distinct disadvantage when it comes to bidding on jobs around the world, as compared to other countries. A German firm has about a 5-6% advantage over a US firm. There is a place for insurance companies in America, but running our health care system is not one.

Social security was initially called OASI - Old Age and Survivors Insurance. SS not only offers retirement security, but it pays the surviving parent of children a monthly sum meant to keep the family together instead of putting the children into an orphanage which was the practice as late as the 1930s. An uncle ran an orphanage until the 1950s. 80 children of all ages, 6 weeks to 18 years. His qualifications? He was a preacher in the church that supported the orphanage. The foster home replaced the orphanage. Not perfect, but better than orphanages. SS also pays for total disability until the person reaches age 65 when he or she is shifted to ordinary retirement. We get all that for 6.2% of our wages, matched by our employer, or if self employed, for 12.4% of taxable income. That is capped at around $80,000. It rises each year so that is not a fixed amount.

By the 1960s, health care for America’s seniors was one great big mess. Lyndon Johnson caused Congress to enact Medicare. To appease the insurance industry, it was divided into Part A, hospital care, and Part B, outpatient care. Medicare was to be financed by a 1.45% tax on wages, with no upper limit, matched by employers. Or 2.9% to the self employed. Here’s the deal on Medicare. You pay into the fund all your working life and when you retire, you get a Part A “paid up” policy. Part B is financed by a monthly premium, currently $88 a month and to go to $98 a month for 2007. It was $49 when Bush43 took over in 2001. Doubled in 6 years!

Surplus funds for Part A, after setting aside a reserve, are paid over into the Part B pool, and Congress makes up any shortfall from the General Fund. Presently, that “shortfall” amounts to about 25% of Part B. I must also report that each year, the Part B coverage is restricted, further and further. Not good if you have an unpopular disorder. Part D is the drug plan enacted for the 2004 presidential race. The Dems - if elected to Congress - will attempt to fix that monster made in hell. If not it will just get worse as long as we allow the disjointed self serving insurance industry to write our laws and medical coverage plans. Remember than November 7. It effects us all.

Trust funds. Currently, the US National Debt is $8.565 T. Of this, $3.7 T. is money held “in trust” by the US Treasury. That is, taxes there were levied for a specific purpose, such as the Highway Fund, or the Airport Fund, or the Wildlife Fund, and so on. Including the social security and medicare trust funds. Taxes paid in advance. So what does the Treasury do with this money? Well, to answer my own question, they “loan” it to the General Fund to pay for the day-by-day operation of the Federal Government.

It is purely a bookkeeping entry in all cases except Social Security, which by law, the Treasury must issue a special certificate as “indica of debt” which is a real piece of paper. By law, the Treasury must pay interest to the SS on the borrowed amounts. We don’t know how much interest because it is based on a formula that includes several variables. Somebody knows, but it is not a number easily found by the ordinary joe. I’ve looked for it but I cannot find it. Or the formula.

The borrowing or loan of the Trust Fund money benefit taxpayers two ways. First, it is available outside the ordinary borrowing or bond market. That reduces the amounts that have to be borrowed by the government, which tends to keep bond interest rates lower than would otherwise be the case. That indirectly effects the interest rates paid by private borrowers. In both cases, the Trust Fund money helps save taxpayers money they would otherwise have to pay in interest. Second, the social security beneficiaries receive higher benefits because of the interest paid on the borrowed money. This is a benefit to all our people. SS beneficiaries spend 100% of the money receive, which is good for business. For more info go to

Final. Why the government can’t save money. First, government is not like a private citizen or a private business. The simplest way to demonstrate that point is to remind everyone the government prints the money. The object of a fiscally sound government is not to print more than the real growth rate. And not to print less, either. The economy must be managed and managed as closely as is possible. All of you “private or free enterprise” types - now called “free” market - should realize there is no similarity between Ford and GM and the US Government.

Aside: 5 years ago Ford was riding high! Any financial adviser could have confidently recommended buying Ford stock. Today, Ford is on the brink of Chapter 11. Ford stock has crashed. Suppose your retirement funds were invested in Ford stock? You’d feel al lot like those people at Enron, who also lost their retirement funds, but for different reasons. But lost it they did. Enron by crooks, Ford by honest managers who made decision that turned out, years later, to be off the mark. same for GM, and etc. And the Chrysler acquisition which looked so wise 10 yeas ago, may bring Daimler-Benz to its knees! The American market is a killer! And totally unpredictable. Financial advisers take note. People with money to invest ought to read the disclaimers every stock broker puts in small print at the bottom of the brochure. Only “inside” traders like Martha Stewart can “see” the future. To “see” is not against the law, but to act on that special vision is.

Suppose the Treasury took the 6.2% you and the 6.2% your employer send in for your retirement, and stacked it in crisp new $100 bills, in a corner at Fort Knox. Absolutely safe. Atom bomb proof. (We call a $100 bill a “Cecil.” From C notes. Or “Franklins” from the portrait). When you retire, your money will be doled out to you, month by month. When the money is gone, you’ll get a note saying, “sorry.” Instead, the system guarantees you payment for your lifetime. To make that possible, all those who die early, before their life expectancy, lose their remaining funds, to help pay those who live longer. Keep in mind “life expectancy” is a name given to the point when half the people born in a certain year, have died.
Purely an actuarial term.

So that won’t work. So who can borrow the $1.8 T. in the SS and $0.3 T. in the Medicare Trust Funds? Surely not American manufacturing companies like GE or GM or IBM or HP? Those companies we once though were equal to the Rock of Gibraltar, but no longer. Hopefully your retirement money was not loaned to one of the Enron’s of the world. And for sure not the Halliburtons. Not to New York City. Not to Sears, Roebuck and Company or to S.S. Kressge, a/k/a K-Mart. You get my point. There is no one company the Treasury can loan your SS Trust Fund money to. That leaves only the US Government to borrow your money because only the US Government cannot fail! If the US Government fails, God will resign!

See www.publicdebt.treas.gov...



[edit on 10/30/2006 by donwhite]



posted on Oct, 30 2006 @ 09:21 AM
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Nice facts..

But i stall have to say. Wodsefak are you talking about?

You are talking about worthless dollars.. companies, lobbies, trusting the government..
and you are talking about god.

I dont perfectly understand how social security works in the USA. But sounds as if it is pretty much suck0.

Here in my country, social security is written down and regulated in "Basic insurance law". There are also additional conditions defined in the "contract insurance law" which pretty much regulates the way things are handled on the side of every insurance company. There is no way the insured individual would lose what has to be paid to him by law in case of given circumstances and conditions.

American citizens, on the other hand, don't even have the most basic human rights defined by geneva convention. And every single american, as soon he's considered an "enemy combattant" can be tortured to death without any fair juridic process. Unless he declares himself guilty. (After being almost tortured to death.)

So i really wonder what's the point discussing about social security (health insurance?) if the nazis have taken your rights to live.. and freedom.



posted on Oct, 30 2006 @ 09:24 AM
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posted by osram



posted by donwhite

You'll Get Your Chance, Mr. Osram, On November 7



Do I get my chance? I live in Switzerland and strongly doubt that I am able to vote in American elections. By the way: I am 22 yrs old and never voted for anything in my whole life.

Because I do not believe in democracy at all. There is no democracy. Nowhere. You guys vote for elections where the results are produced by the Media. I don’t need to point out the parallels to the Hitler Regime. Should be evident for everyone. There is no place where the true Nazi Face can be perceived as clearly as in the USA.



Well, Mr O, it is not the democracy described by Aristotle, nor the one Thomas Jefferson envisioned, but it is also definitely not the one Adolph Hitler wrote about in Mein Kampf nor what he turned Germany into between 1933 and 1945. I have myself derided the US for its strong resemblance to the standard definition of fascism, the political control of a country by private entrepreneurs. Or government run for the benefit of business. But alas, I have exaggerated. When confronted with such an accusation by another, I feel impelled to confess and to defend. America.

Our society is a meritocracy. That is not all bad. Yes, there is exploitation of the have nots by the haves. But we are working on that. So, I, a devoted critic, reject the “Nazi Face” description of the US of A. It is altogether too simplistic. And ignores too many contrary facts of life.




1 vote, 2 presidents - No choice. I'm not saying that in such a case one should not vote at all. Maybe there will really be a swing towards democrats. But I hardly doubt anything will change with the current system in place. I only hope something happens. Something to profoundly change towards good, instead of evil. Even with a high price to pay. We will see...
[Edited by Don W]



You see, Mr. O, even you too, see promise in the US of A. I also hope we can reject the anti-Americanism of Bush43, but we’ll both have to watt until November 7. Thanks for your perspective. and your critique. We need those, too.



posted on Oct, 30 2006 @ 09:39 AM
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Our society is a meritocracy.


You mean now? Or in the 20s? In the 20s, it was a meritocracy, in fact, true capitalism is meritocracy... but our society is corruptiocracy. Where the most corrupt win. Where money buy everything and everyone and the ones already in power have so much money, they'll kill you 1000X before you even reach 10% of their power.

It's not anymore a meritocracy, it's now a technological fascist state. A technological society run by corporations, and it's only getting worse. We need a real change, and all the new laws, it's now impossible to be a new Gandhi or Martin Luther King, the only way I see, it's a massive uprising of the people because voting is utter crap unless you can move a third party to office with not corrupt people, and how much time will it last before someone is corrupt or assassinated? Life is an eternal circle...



posted on Oct, 30 2006 @ 10:35 AM
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posted by osram

Nice facts. But what are you talking about? You are talking about worthless dollars. Companies, lobbies, trusting the government. I don’t understand how social security works in the USA. It sounds as if it is pretty much suck-0. [Edited by Don W]



Our history of Switzerland stops in 1499, when it gained independence from the Holy Roman Empire. 15,000 sq miles. Three ethnicities and 3 languages. German, French and Italian. 7,500,000 people. GDP, $240 B. GDP per person, $32,300 [$41,800], both numbers 2005 est. by the CIA. Unemployment, 3.8% [5.1%]. 145,000 workers [8.8 million]. The bottom 10% owns 2.6% [1.8%] of the national wealth, while the top 10% owns 25.2% [30.5%]. This equates to the GINI index of 33.1[45]. Corresponding US numbers are in brackets. On explaining the US system, I did my best in the post you have asked or said “ . . what are you talking about . . “ so I will not go further.



Here in my country . . there is no way the insured individual would lose what has to be paid to him by law in case of given circumstances and conditions. [Edited by Don W]



That is a very serious deficiency in the American Way of Life. Whether we can correct this is problematical at best. As you mentioned above, the lobbyists have so much clout in our government - Dem or GOP - that it is nearly impossible to do the will of the people, whatever that is. And some people - especially ‘right’ leaning people - will make a strong argument that the current condition is exactly what the majority of Americans want. Hmm?



American citizens, OTOH, don't even have the most basic human rights defined by Geneva convention. And every single American, as soon he's considered an "enemy combatant" can be tortured to death without any fair judicial process. Unless he declares himself guilty. (After being almost tortured to death). So I really wonder what's the point discussing about social security (health insurance?) if the Nazis have taken your rights to live. And freedom.



Well, I just don’t think it is that bleak. Americans allowed themselves to be stampeded by the Bush43 team after the Nine Eleven Event. The GOP has deftly converted - say exploited - that fear into electoral victories in 2002 and 2004. I sense they have run out of people to scare this year. I hope so. Stay tuned!

See www.cia.gov...


[edit on 10/30/2006 by donwhite]



posted on Oct, 30 2006 @ 11:10 AM
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posted by Vitchilo


Our society is a meritocracy.


You mean now? Or in the 20s? In the 20s, it was a meritocracy, in fact, true capitalism is meritocracy . . [Edited by Don W]



OK, Mr V, so I was overly enthusiastic. Making a wish-list. Now that you have let the helium out of my balloon, I’m thinking even your trip through nostalgia land did not go back far enough. Don’t overlook the Selden Patent guy, who wanted a royalty on all cars made in America. Henry Ford dashed that ambition. Or the similar Wright Brothers patent who wanted a royalty on all airplanes made in the world? Again, Henry Ford and Glenn Curtis dashed that ambition. Or John Rockefeller, the first billionaire? Or Cornelius Vanderbilt, the NYCentral RR magnate? Or Andrew Carnegie who founded US Steel? Or Thomas Edison who founded General Electric? Or George Pullman? OK, the list goes on. My point is, these men were not “free” market types. They were to a man, monopolists. (Maybe not Henry Ford). America has never had an opportunity to test your thesis on the nature of capitalism. It is impossible to do. It is only possible in a pure libertarian world, which itself is impossible. Neither can I, beyond a reasonable doubt, prove America is a meritocracy.



“ . . but our society is corruptocracy. Where the most corrupt win. Where money buy everything and everyone and the ones already in power have so much money . . It's not anymore a meritocracy, it's now a technological fascist state. We need a real change, and all the new laws, it's now impossible to be a new Gandhi or Martin Luther King, Jr . .



I see every element of a conspiracy except the operating genius. The man behind the scenes. The puppet-master. On that point I diverge from the conspiratorial theorists. It is far more likely to be noting more sinister than coincidence and convergence of interests than due to any Skull and Bones master plan. (S&B is bunch of rich and spoiled Yalies having a laugh at our expense).



“ . . the only way [out] I see, is a massive uprising of the people because voting is utter crap unless you can move a third party to office with not corrupt people, and how much time will it last before someone is corrupt or assassinated? Life is an eternal circle...



And on that Hindu-like high note - Life is an eternal circle - I will take my leave.



posted on Oct, 30 2006 @ 12:23 PM
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Actually I would call American society a Pornacracy...yes there is such a word and a concept...rule by prostitutes and it specifically refers to a period in Athens history around the time of Pericles. It could also be applied to the reign of Louis XV in which the ladies, the consorts and courtesans exercised considerable prower from behind the throne....I however mean it literally as in the buying and selling of politicans and of favors.



posted on Nov, 1 2006 @ 06:54 PM
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Revelation 18 describes an economic earthquake that will hit America with such force it will make the Great Depression seem like child's play.





The merchants of the earth will weep and mourn over her because no one buys their cargoes anymore–cargoes of gold, silver, precious stones and perils; fine linen, purple, silk and scarlet cloth; every sort of citron wood, and articles of every kind made of ivory, costly wood, bronze, iron and marble; cargoes of cinnamon and spice, of incense, myrrh and frankincense, of wine and olive oil, of fine flour and wheat; cattle and sheep; horses and carriages; and bodies and souls of men.

Revelation 18:11–13



posted on Nov, 1 2006 @ 07:02 PM
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Here are more of the real numbers on the financial status of the U.S., from a very recent thread I supplied that info for:


www.abovetopsecret.com...



As it says in that thread, the book I got those numbers from was just recently published: The Financial Report of the United States (the author and publisher info is on the above thread...publisher is the U.S. government actually).

[edit on 11/1/2006 by Uphill]



posted on Nov, 1 2006 @ 07:43 PM
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posted by NumberCruncher


Revelation 18 describes an economic earthquake that will hit America with such force it will make the Great Depression seem like child's play




The merchants of the earth will weep and mourn over her because no one buys their cargoes anymore - cargoes of gold, silver, precious stones and perils; fine linen, purple, silk and scarlet cloth; every sort of citron wood, and articles of every kind made of ivory, costly wood, bronze, iron and marble; cargoes of cinnamon and spice, of incense, myrrh and frankincense, of wine and olive oil, of fine flour and wheat; cattle and sheep; horses and carriages; and bodies and souls of men. Revelation 18:11 - 13 [Edited by Don W]



N/C, you are a smart guy. Why would you say this part of Scripture refers to the United States? You should see that on its face. You know or ought to know this refers to commerce and shipping around the Mediterranean Sea in the 1st and 2nd centuries of the Common Era. You’re like those Nostradamus types, who only “find” predictions by looking backwards. It’s hokum! You reduce the Holy Writ to nonsense. Shame.



[edit on 11/1/2006 by donwhite]



posted on Nov, 1 2006 @ 08:11 PM
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The Bible, like most scripture is a template... we read (or put into it) what we want to read. Most real Biblical scholars will tell you that Revelations is one long metaphor for the situition in the Roman empire during the time it was written...not a foretelling of future events two thousand years away.


I do not need a passage from Revelations to tell me we are digging ourselves into a deep hole...its blatantly obvious.

For years now I have been trying to tell people its all deliberate too. The stratigests behind the Republican party have been pretty open about it for years and the war and how it is being unpaid for is all part of it...run up so much red ink that there will be no choice but to eliminate all but the most essential services. The Grover Norquists, Phil Gramm, James Gilmore and many others have spoken about this plan of theirs repeatedly but no one outside their sphere of influnce pays it any mind, to our determent.



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