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The Global Economic Meltdown

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posted on Sep, 28 2007 @ 06:45 PM
Thanks for joining us here, Jim! This had been an awesome experience.

Do you agree with the 'experts' on television declaring our current problems are just a minor 'blip'?

Or do you believe the current economic turmoil is a sign of worse times to come? And if so, how much worse will it get and what time period do you project?

And do you believe that this crisis is being engineered? If so, by who and how?

I already have my own opinions on this subject but i would love to hear your take on it.

[edit on 9/28/2007 by sp00n1]

posted on Oct, 4 2007 @ 03:22 PM
Howdy Sp00n1,

Early in life I learned that when you dance to the music there comes a time when you have to pay the fiddler (or perhaps the guitarist today). The American economy today is ballooned well past that which caused the Stock Market Crash of 1929.

In fact, in some ways we are worse off than during the Great Depression. In the 1930s, there was a monetary depression. Money was still good, there simply was not enough to go around and most people were struggling. Today, we are in an inflationary depression. There’s plenty of money, but its worth less and less. A new brick home in the 1940s cost about $3,000. By the 1970s, the same home cost about $80,000 and today that same home will cost $150,000. This is inflation at work.

To counter this depression, the Federal Reserve System (a system of privately-owned banks which is neither federal nor has any reserves) simply prints more money. This cannot go on forever. The fiddler will have to be paid. This is why the Bush administration has begun selling off bits of the American infrastructure --- roads, bridges, tollways, etc.

The time is quickly approaching when more borrowing will not solve the problem. Already this year, some of the nation’s largest banks, which had loaned money to bail out the housing and mortgage industries, in turn, had to borrow more money from the Fed. This is not a good situation, any way you look at it. To learn who is behind all this, please read my book "Rule by Secrecy."

If you are a young person just starting out in life, start saving your money and put it into something tangible like a home, property, jewels, etc. Once the fiddler demands payment, the economy could collapse and you will find it hard to trade or eat paper and electronic blips. You should also start thinking about getting out of the city. Cities are already almost unbearable to many people and, should the economy tank or war come, they will not be at all pleasant.

Jim Marrs

posted on Oct, 6 2007 @ 10:12 PM
My fear is that, once the collapse comes, the ensuing riots will provide a wonderful justification for martial law. Gold confiscation, just like in the 1930's, will be the norm. While it is easy enough to hide gold, you won't be able to spend it without risking the criminal penalties resulting from not handing it over to the government's "strategic reserves".

Owning a home is good and all, but the dropping home values and the lack of secure property rights make me hesitant to invest. My ownership only exists on paper.

It is not often that i say this, but my view of the future is very bleak. Spreading credit crisis, runs on major banks, government ineptitude, voter apathy, the list goes on and on... Unfortunately I see no good outcome to our current situation and i believe it has been engineered as such.

posted on Oct, 9 2007 @ 11:01 PM
A fellow forumer that doesn't have the required post count to post in this thread asked me to relay a question. KTK pointed me to an online version of an old book that has been released into the public domain, None Dare Call it a Conspiracy. Have you ever heard of it Mr. Marrs?

It is a very intriguing book to say the least. The foreword was written by a former congressman.

The book seeks to expose an international conspiracy that exploits socialism to create a world in which a ruling elite have an absolute monopoly over all money and industry.

KTK wanted to know your opinion, Jim, on a certain section of the book dealing with previous economic crashes that appeared to have been engineered, such as the 1929 stock market crash. Do you agree with this info?

A few key excerpts, the first dealing with the engineered crash of 1907 as a means to bring about the Federal Reserve;

In order to show the hinterlands that they were going to need a central banking system, the international bankers created a series of panics as a demonstration of their power a warning of what would happen unless the rest of the bankers got into line. The man in charge of conducting these lessons was J. Pierpont-Morgan, American-born but educated in England and Germany. Morgan is referred to by many, including Congressman Louis McFadden, (a banker who for ten years headed the House Banking and Currency Committee), as the top American agent of the English Rothschilds.

By the turn of the century J. P. Morgan was already an old hand at creating artificial panics. Such affairs were well co-ordinated. Senator Robert Owen, a co-author of the Federal Reserve Act, (who later deeply regretted his role), testified before a Congressional Committee that the bank he owned received from the National Bankers' Association what came to be known as the "Panic Circular of 1893." It stated: "You will at once retire one-third of your circulation and call in one-half of your loans…

Historian Frederick Lewis Allen tells in Life magazine of April 25, 1949, of Morgan's role in spreading rumors about the insolvency of the Knickerbocker Bank and The Trust Company of America, which rumors triggered the 1907 panic. In answer to the question: "Did Morgan precipitate the panic?" Allen reports:

"Oakleigh Thorne, the president of that particular trust company, testified later before a congressional committee that his bank had been subjected to only moderate withdrawals … that he had not applied for help, and that it was the [Morgan's] 'sore point' statement alone that had caused the run on his bank. From this testimony, plus the disciplinary measures taken by the Clearing House against the Heinze, Morse and Thomas banks, plus other fragments of supposedly pertinent evidence, certain chroniclers have arrived at the ingenious conclusion that the Morgan interests took advantage of the unsettled conditions during the autumn of 1907 to precipitate the panic, guiding it shrewdly as it progressed so that it would kill off rival banks and consolidate the preeminence of the banks within the Morgan orbit."

The "panic" which Morgan had created, he proceeded to end almost single-handedly. He had made his point. Frederick Allen explains:

"The lesson of the Panic of 1907 was clear, though not for some six years was it destined to be embodied in legislation: the United States gravely needed a central banking system…"

And the second dealing with the mechanisms at work behind the 1929 stock crash;

When the Federal Reserve System was foisted on an unsuspecting American public, there were absolute guarantees that there would be no more boom and bust economic cycles. The men who, behind the scenes, were pushing the central bank concept for the international bankers faithfully promised that from then on there would be only steady growth and perpetual prosperity. However, Congressman Charies A. Lindberg Sr. accurately proclaimed:

"From now on depressions will be scientifically created."

Using a central bank to create alternate periods of inflation and deflation, and thus whipsawing the public for vast profits, had been worked out by the international bankers to an exact science.

Having built the Federal Reserve as a tool to consolidate and control wealth, the international bankers were now ready to make a major killing. Between 1923 and 1929, the Federal Reserve expanded (inflated) the money supply by sixty-two percent. Much of this new money was used to bid the stock market up to dizzying heights.

At the same time that enormous amounts of credit money were being made available, the mass media began to ballyhoo tales of the instant riches to be made in the stock market. According to Ferdinand Lundberg:

"For profits to be made on these funds the public had to be induced to speculate, and it was so induced by misleading newspaper accounts, many of them bought and paid for by the brokers that operated the pools…"

The House Hearings on Stabilization of the Purchasing Power of the Dollar disclosed evidence in 1928 that the Federal Reserve Board was working closely with the heads of European central banks. The Committee warned that a major crash had been planned in 1927. At a secret luncheon of the Federal Reserve Board and heads of the European central banks, the committee warned, the international bankers were tightening the noose.

On October 24, the feathers hit the fan. Writing in The United States' Unresolved Monetary and Political Problems, William Bryan describes what happened:

"When everything was ready, the New York financiers started calling 24 hour broker call loans. This meant that the stockbrokers and the customers had to dump their stock on the market in order to pay the loans. This naturally collapsed the stock market and brought a banking collapse all over the country because the banks not owned by the oligarchy were heavily involved in broker call claims at this time, and bank runs soon exhausted their coin and currency and they had to close. The Federal Reserve System would not come to their aid, although they were instructed under the law to maintain an elastic currency."

The investing public, including most stock brokers and bankers, took a horrendous blow in the crash, but not the insiders. They were either out of the market or had sold "short" so that they made enormous profits as the Dow Jones plummeted. For those who knew the score, a comment by Paul Warburg had provided the warning to sell. That signal came on March 9, 1929, when the Financial Chronical quoted Warburg as giving this sound advice:

"If orgies of unrestricted speculation are permitted to spread too far . the ultimate collapse is certain … to bring about a general depression involving the whole country."

posted on Jul, 9 2008 @ 02:55 AM
reply to post by sp00n1

The global meltdown can be attributed to one single foolish policy adopted by the governments all over the world. The day we changed over from commodity money to fiat currency, the collapse started. The self discipline which is in built in having a commodity currency can never permit such runwaway inflation because then the governments are always aware and are scared that reckless printing of currency is not a solution to any economic problem.It's time to go back to commodity money.

posted on Jul, 18 2008 @ 07:59 PM
reply to post by Jim Marrs

Note the following is just some of my thoughts .

Interesting post . Unless inflation is controlled we end up in the same situation as post WW1 Germany money will be worthless . The other problem is that the consumer economy is build on nothing but credit . I have heard that people have applied and gotten credit cards to pay for there existing bills . In effect the creditor never gets paid this cant go on . The same bank that would be feeling the pressure of the slow housing market offered me a credit card a couple of weeks ago .

Since I cant afford to buy Gold or Silver or buying land I am focusing on setting up a vegetable garden and thinking of ways to heat my home and cook without electricity.

posted on Jul, 18 2008 @ 08:09 PM
This all started years ago. The good ol' Doom Doom, Repent, Lest THe LOrD judgeth (proper symbolism there). And then Marx. 1848,49,51,53,54,55, all predicted dates for the collapse of capitalism. Face it, we have borrowed to much but borrowed before, and too much too, and it all came into line, we spent less than we earned for a while. Debt is a yoyo, but the string is not going to come off more than in 92, 81, 77, 40-45. Get the joke: We create money because someone has a house and borrow £100,000 for it. The bank creates this money out of nothing, wow, and the interest in the future does not add up because the economy has to grow and the money was created out of nothing...... Face it, that money has a house behind it that will come good in time, people will need to use it and....... Borrowing tomorrow's money today...... The Green Party would legalise all drugs and Speed is tomorrow's energy used today, by all accounts. It seems we recover.......

posted on Jul, 19 2008 @ 02:22 PM
reply to post by xpert11

I am getting a small electric heater for my bedroom and keeping the heat in the house at 60 degrees. Every little bit helps when one is on a fixed income and with the natural gas prices so high...

posted on Sep, 17 2008 @ 11:15 PM
Well, it happened........


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