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World Renowned Investor George Soros 2/20/09 - "I see no bottom for world financial collapse"

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posted on Feb, 21 2009 @ 03:14 PM
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reply to post by loki41872
 


Atlas Shrugged. We are living it. Everyone should read it.
The author wrote it 50 years ago, but I swear it's prophecy.




posted on Feb, 21 2009 @ 03:55 PM
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they have had thier short positions (or puts) in the market since the market highs. this is their game.. sell short the market.. use their friends in the media to hype up the panic make money off the crash and buy up all thats left at firesale prices. its been going on like this for a long time. you think these booms and busts are by accident?? ha!
im an idiot and i could see the housing bubble coming a few years ago. you dont think they saw it too?


also i wanted to chime in a little about this talk of capitalism or communism etc. The problem isnt trying to decide which system works best because "humanism" is what designs each system. and each system is designed to benefit certain people. Through history we still havent been able to find a "system" that works well for everyone in the long run. Egypt,Aztecs, Rome, British Empire, Chinese dynasties, USSR... etc all crashed by the same common demoninator. Human Design.

Everything works good, until it doesnt..

[edit on 21-2-2009 by turbokid]



posted on Feb, 21 2009 @ 07:17 PM
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reply to post by genomega
 




Fascinating stuff in your post. It has never been a secret that Soros has been an opponant of capitalism and the Bush administration, and I suspect what you have posted could very well be true.

Take four of five of the wealthiest power brokers in the world and have them amke an electronic run on the markets simultaneously and you have exactly what we experienced in September with the markets.

What is to prevent something like this from occuring over and over again? Thankfully by halting trade and recapitalizing we were narrowly able to avert complete disaster, but what would be the fail safe for making certain it never happens again?



posted on Feb, 21 2009 @ 08:47 PM
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Originally posted by Power_Semi
Check these 2 predictions made by the same person. First one made in July 2008 when the DOW was about 11500 & the FTSE was around 5500 - looked like a crazy prediction back then, but pretty good overall.




There was a guy back in the 90's predicting what could be called a depression. He claimed the effect would be to free America and some others from their neck deep foreign economic entanglements. It may look like one thing but that would be the effect.

He claimed that the US was in effect controlled at that time by outside powers and this economic collapse would help free us up.



posted on Feb, 21 2009 @ 09:12 PM
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reply to post by genomega
 


On a Parallel line of thought, I tried putting some of that into context as well...this is what I came up with...

Welcome to The Real Matrix: Time for The Red Pill?
www.abovetopsecret.com...



posted on Feb, 21 2009 @ 09:47 PM
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If you haven't bought any gold yet, and can't afford it, I suggest investing in loads of matches, booze and cigarettes... They will be worth their weight in gold as a super high commodity. I know this has been said many times on this board, but it is the truth. Plan now ---- We are up sh** creek!



posted on Feb, 21 2009 @ 09:53 PM
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reply to post by BlackOps719
 


Actually he was one of the wealthy elites that profited from the imminent collapse of the economy.

People like him doesn't lose a penny at all.



posted on Feb, 22 2009 @ 04:51 AM
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how come hilary doesnt have billy by her side to protect her from the sparklers that north korea might send her while shes in the orient i know theyre such a loving couple oh hes in san diego collecting 150k in speaking royalties trying to pay for their other daughter monicas new purse line



posted on Feb, 22 2009 @ 05:24 AM
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everything is going to be fine

i think this is the age of transition in that we will (if wars are averted) move from being a society based upon the current socio-economic paradigm of i pull a lever for x bucks an hour to 'buy # that i don't really need' because and this is where it gets awesome - i do in fact need it - i want rad technological # in my house - but i can wait because technology gets super #ing cheap and then free

moore's law is rad as # - it states computational power doubles every 18 months and drops in cost to produce by 50% at the same time...netbooks? iphones/touchscreen cell phones that will cost 20 bucks? 5 bucks?

the great depression happened during the 30's...my dad was a teenager during it - and the world was a different place - there weren't labor laws, or mcdonalds, and babies and old people died really young -

the american dollar is just like whatever rome used for money or the ancient egyptians or candyland - it's a good way to keep a large and easily enraged group of homo sapiens happy and not # # up -

the cold war was a real big deal - soviet union fell because the perception of communism in russia was that it sucked. russian has a long long history = like england or mtv and capitalism looked more fun - individual rights will always win out

- china is big as # and though i think they want to shift from communism to democracy/total free market they are afraid of the the break up of vast territory - china had so much #ing internal war because it was so vast and hard to manage - like russia -

america is rad because we never had to deal w/ the sketchiness of large territory and everybody getting on each others nerves for a few hundred or few thousand years - we came and brutally killed countless native americans and told the british to go f'em themselves -

during the depression we made our own stuff here in country - now we don't and it's become fashionable to ask what does America still produce in country. We produce mother#ing innovation and we export the # out of it (are we allowed to cuss on here?)

the tv? radio? the internets? video games? the snoogle? the iphone? America's difference from other countries is that we're diverse - and we feel an American freedom of individuality and expression in our educations (mostly speaking to colleges - tech, med, science studies) and in other countries it's more of a stifling don't stick out kind of environment.

we're not gonna starve - we're not all gonna die - but there's gonna be a lot of change - the techonology coming is crazy in how advanced it is and how much it will changes things - what if we could print food? easily create homes that we could own on our own land?

though the cities will always attract a huge percentage of a country's population - i think you will see a major shift to more rural living - there's still a lot of land out there that we stole - and if you can get a box that will power yr house by itself and you can self sustain due to massive tech shifts and you don't have to have a horrible job you hate -

i think dudes at the top know this is coming and the bottom is falling out because you're starting to see the early migration away from the classic market economics we all know and love

3d printing rules! go nbic convergence!



posted on Feb, 22 2009 @ 10:21 AM
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reply to post by Hastobemoretolife
 


I couldnt agree more. So many people are in denial that yes we are headed for a depression.



posted on Feb, 22 2009 @ 11:33 AM
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reply to post by KnowledgeIsPowerful
 





There are a lot of people out here who are either eternally optimistic or just plain unaware of how severe the situation may be.

I have a brother who has planned an October 3rd wedding this year with expensive what nots and the whole shebang. I have other friends trying to put together a trip out to Vegas this summer for gambling and R&R.

I have a co-worker who just bought a new 3,900 sq' luxury home that carries with it a mortgage note almost twice that of what he was previously paying, all while relying on the financial sector for his income.

Am I missing something here? Is it wise to just keep on moving along as though not one single thing has changed? Should we ignore all of these events and all of the economic forecasts? Im not trying to pump people full of doom and dispair, believe me I would love to think that my livelihood is secure and that I could plan a two week excursion to Aruba in June and not have to worry about the money I am spending.

Am I nuts? When these people talk of extravagant weddings and frivilous leisure trips I bite my tongue, but in my mind I am thinking "You may be lucky to even have food to eat in October". What a dreadful feeling, but I prefer reality even when it stings as opposied to ignorant cluelessness.



posted on Feb, 22 2009 @ 06:21 PM
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He said the bankruptcy of Lehman Brothers in September marked a turning point in the functioning of the market system.

"We witnessed the collapse of the financial system," Soros said at a Columbia University dinner. "It was placed on life support, and it's still on life support. There's no sign that we are anywhere near a bottom."


Volcker said industrial production around the world was declining even more rapidly than in the United States, which is itself under severe strain.

"I don't remember any time, maybe even in the Great Depression, when things went down quite so fast, quite so uniformly around the world," Volcker said.
(visit the link for the full news article)



And the Asian Market investment by foreign banks of the Federal reserve buying up US dollars by the Trillions, devaluing foreign currency and stock, to wait until the Dow reaches around 2000 points, say, before selling all the Trillions of US Dollars purchased, simultaneously buying up the now devalued foreign currency and stocks at a massive double, tripple, or better profit from their rise in value as the then value of the US Dollar plummets by the mass engineered controlled usary slide, killing the market as it is based largely (75%) on the US Dollar, thanks to the Joint Trust created by the owners and controllers of the Prime and Secondary banks of the Fed Res, which profits the Fed Owners and Controllers, while systematically bankrupting the Holding Companies, the Foreign Banks in the US and abroad, such as Lehman Brothers, which eliminates the Fractional (imaginary) money while their Servicing Agents, the Fed Banks owned and controlled by families like, O Wow, the Lehman Brothers, keep the real capital and are owed all the debt from these collapsed Holding Companies and BAnks of theirs. Well, I suppose Soros and others, who profit, as well by the way, have no clue about any of this and it has nothing to do with anything I suppose?

Where are our Federal Protectors now? Oh, yeah, they are the ones profiting from our demise. And you thought elections weren't rigged. Please, from local to federal level, the parties aren't in compettition. They are in cahoots. Even Ron Paul sounds like the voice of reason, but, it's his job to look that way. He profits, too.

groups.google.co.uk...


It inly takes 5% of the total debtor nations to equal all of the
deposits of the Saudis that are in the banks. The reason for this is
the twenty-to-one ratio of fractional reserve banking. In works in
contrary reverse. It doesn't take many nations to agree to the
International Mon-etary Fund's proposal for the total volume of money
owed to equal the total volume of money on deposit from the Saudis.
Twenty debtor nations have already agreed to the International
Monetary Fund's proposal.The resultant collapse of the second group of
holding companies will
precipitate the Saudis' and Kuwaitis' liquidation of assets.


When the second group of holding companies are unable to pay the
private group of bank holding companies the money they owe them from
the credit extended to them to buy the assets and liabilities, it will
precip-itate those bank holding companies inability to pay the loans
extended to them by the prime banks to buy the foreclosed land which
was used as collateral to secure those loans. Ultimately, the prime
banks will end up with all the properties.


I probably post that too much, but, noone seems to really be aware of it. It is not a theory. You can see it happen. It is Economic Policy around the Globe.

Can we say, High Treason?




[edit on 22-2-2009 by PhyberDragon]



posted on Feb, 22 2009 @ 06:31 PM
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Originally posted by BlackOps719
reply to post by KnowledgeIsPowerful
 
I have a brother who has planned an October 3rd wedding this year with expensive what nots and the whole shebang. I have other friends trying to put together a trip out to Vegas this summer for gambling and R&R.

I have a co-worker who just bought a new 3,900 sq' luxury home that carries with it a mortgage note almost twice that of what he was previously paying, all while relying on the financial sector for his income.

Am I missing something here? Is it wise to just keep on moving along as though not one single thing has changed? Should we ignore all of these events and all of the economic forecasts? Im not trying to pump people full of doom and dispair, believe me I would love to think that my livelihood is secure and that I could plan a two week excursion to Aruba in June and not have to worry about the money I am spending.

Am I nuts? When these people talk of extravagant weddings and frivilous leisure trips I bite my tongue, but in my mind I am thinking "You may be lucky to even have food to eat in October". What a dreadful feeling, but I prefer reality even when it stings as opposied to ignorant cluelessness.


Yeah, I know... I see it too... my friends are spending tens of thousands on a kitchen remodel, planning vacations etc etc. I never say anything.. they wouldnt hear me anyway. I am just staying on the down low and continuing to put food and money aside... It IS a dreadful feeling to watch it all unfold.... No, you are not nuts. Or... if you are, than I am too. Or maybe just frugal and careful at the very least.... right??



posted on Feb, 22 2009 @ 06:34 PM
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Originally posted by BlackOps719




Sorry folks, looks like we are all going to come up a day late and a dollar short. People here on ATS have been harping on this Great Depression II that has been building across the world like a perfect storm for the past 5-10 years for as long as I can remember.

Well here it is. When the money men like Soros are stepping out publically and predicting a collapse worse than the first Great Depression, something more along the lines of the collapse of the Soviet Union, people should take heed and sit up and notice.

Evidently printing massive amounts of money and throwing it at the problems that plague our banking and financial systems just hasn't worked like so many had promised. This last stimulus swipe by Obama was nothing more than a desperate administration throwing fuel on to a fire that is already 20 stories high and rising.



news.yahoo.com
(visit the link for the full news article)


First off, the system is designed to make anyone who speaks against the status quo, that is pounded into the psyche of the masses, appear as crazy. Hence, the arbitrary DSM and dressing up of criminal records. you don't have to be guilty for it to mention you were charged. So, 10-15 or a million years of conspiracist's logical rational observations, regardless of their background will be dismissed, because we don't bear the appropriate symbols and sponsors which create the illusion of authority and knowledge of the areas in which we speak. We have far less sway than a lunatic who thinks themselves on Mars, if we dressed them up in a black cloth, gave them an artfully crafted piece of wood and a decorative coaster to bang it child like on, and a license and Id which has been forged to modern standards, and whose words would hold more sway than all of us combined. Especially, if we dressed another person, say a psycho killer pulled straight out of Maximum Security for killing 500+ people for the insane fun of it, and dressed them as a bailiff in an official and modern uniform, gave him an empty gun and shiny belt, shoes, and all the trimmings and promised him freedom just for reciting, "Hear ye! Hear ye! All rise! The Honorable, Lunatic, now presiding!"

It is a mindset that sickens me, authority percieved is authority achieved. They have truly silenced the dissent, free speech is dead when your words fall on deaf ears.

Secondly, it is not incompetance of our leaders to make this matter worse. Worse for who? Us? Yes. Them? No. They are getting richer and more powerful by the minute. If the US Falls, if the Global Economy falls. Say hello to the new aristocracy and their Monarchs, etc. it is exactly what they intend to do. They have not mismanaged us, they have run their Company well. And soon, they will get a bonus like no other-- absolute control.

[edit on 22-2-2009 by PhyberDragon]



posted on Feb, 22 2009 @ 06:53 PM
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Originally posted by BlackOps719
reply to post by johnsky
 




Man you are right. I get the feeling that the only thing that will pull us out of this financial disaster is another world war. And even worse, I think the PTB know that as well.

North Korea attacks South Korea, Israel attacks Iran and suddenly we are in the middle of Armagedon. A world war fought with nuclear and biological capability is terrifying to consider.


I just hope the World has the Good Sense to declare War on the Families that own the Federal Reserve this time around. Take out the Super Wealthy bastards that did this to us, and anyone on their payroll or is just duped enoough to defend them.

We need a World War against the Instigator and Resolver of all our Financial Ails. They are the Root Cause of all the Symptoms of Corruption and Greed which ail us. We should set all else aside until after we do that.

I refuse to partake in a Civil War or a Political War. But A Class War. Lock and Load and Sign Me up!



posted on Feb, 22 2009 @ 06:59 PM
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reply to post by Anonymous ATS
 


There are less rich thieves than poor thieves. You'll be spiiting so much you'll dehydrate and die.... at that point they can steal your clothes!!!



posted on Feb, 22 2009 @ 07:17 PM
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Originally posted by Jazzyguy
Wait until Hilary returns from china, then you'll see what happen.
I don't think it'll float, but I guess we'll just have to wait and see.

Soros might be one of the person who's behind the 1997 asian financial crisis. But it actually makes asia in the stronger position financially right now.


Isn't it interesting Hilary was in Asia when the Trillions of US Dollars were bought off the Asian markets Monday?
Who does Bill make his money from again? The Mid East?

I expect to see more fractional lending holding companies go bankrupt really soon. All that Saudi Money gone bye bye while the Servicing Agent Banks keep all the Capital and forclosure pre buyouts, etc. and those Saudi's those nomad to international investors overnight who were duped by the Fed into 30 year contracts that are coming up on expiration and coming due, but, which holding collapses will mean they won't see it, and so are out of their money, and all their realty has been bought up, and all their US and foreign assets, well, they will liquidate quick before they are frozen, flooding the market and crashing the American weakened economy, and whoosh, their goes the Global Economy.

The Federal Reserve is the Enemy.
Not the Terrorist's. 17 of 19 Hijacker's on 9/11-- Saudi's. Targets: Economic Centers: WTC, Pentagon Records Dept. which happened to be relocated, White House records Dept. Pennsylvania, probably more records are kept their. Possibly to reset transactions to 0 and save their money and real estate (Saudi Arabia and the Mid East). Bin Ladin-- Saudi wealthy elite. Is he really just that warmongering and hateful of our religion? Or, more likely, trying to keep his money? Mexican Drug Cartels. Really? Or is it Mexican Wealthy who have realized they were likewise duped? Are we policing the world to keep it safe? Or, are we debt collectors in the making as a last ditch agreement with the Feds to keep our own wealth? Or, will we find ourselves duped and bankrupt too. With the Fed creating a system of Credit and destroying actual physical currency. Could the Fed be the Christian Apocolyptic Beast? Sure seems like it. Are the people of the WTC collateral damage for a larger picture, or, were they the target of a wealthy fanatic just trying to stick it to the Man?

Are drug traffickers our enemies? Who funds them? Who holds all that money? Do they just shove it under their mattress?

Politicians? Would they serve the interest of the Fed if the Fed wasn't allowed to have the power to collapse us that it has?

Isn't the best solution to just declare all debt owed to the US is absolved and all debt owed is dissolved, then, return control of the finances back to Congress, with a new Amendment that secrecy is not allowed, that the US Banks are to be Public not Private, National, not Foreign Interests.
Then, demand the Trial of the Owners and Controllers of the Fed Res Prime and central Banks for High Treason and Crimes against the People of Earth, with the Penalty for Guilt as Death. And, hold the trials at Nuremburg, with one Justice from each Country, drawn by lottery of the People and not by appointment, with a 50.1 not more, not less, majority for conviction. And make all proceedings open to the public-- no closed doors or off the records allowed. Name Names, and pull them all in one by one.

That's the Direction World War 3 needs to take if we are to have another World War. That is who our Enemies truly are. All is is Symptoms. Treat the Cause. Abolish the Fed Res and punish the owners and controllers, and their conspirators. If they broke no law, judge them by results, not potentially corrupt justifications. I am for suspending the Rule of Law in this instance. Then, make it so no individual or entity can do what the Fed has done and centralize wealth and power, globally, or, within the US.



posted on Feb, 22 2009 @ 07:28 PM
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Originally posted by yellowcard
I have to say that it's beginning to look like the U.S. is going to come out of this better than almost anyone, aside from China, the rest of the world has been eating our crumbs. I fear for Japan and the U.K., the E.U. may actually split before it's over. The U.S. can crawl out of this out of pure economic might...we still are the largest manufacturing country in the world, but the same can't be said of these other countries that depend on our consumption. When we no longer have excess demand for goods, and our savings rate climbs (to some say 10%+)...that spells bad times for the economies of the world. I don't see this as a collapse of the U.S. but rather a rebalance of dependence on us.

Soros has been increasing his stakes in many companies though, so he does believe in a turn around.

[edit on 21-2-2009 by yellowcard]


WRONG.

The US will fare no better than any one else.

groups.google.co.uk...


The effect of the elimination of the assets of the second group of
holding companies is threefold:


1. The holding companies would be insolvent and would legally be able
to declare themselves insolvent.


2. They could legally and legitimately avoid payment to the Middle
Eastern Nations.


3. The Middle Eastern Arab nations will have to liquidate all their
other assets.


These assets are represented by U.S. corporate ownership
and many billions of dollars worth of U.S. stock. The effect of the
Saudis and Kuwaitis and the Middle Eastern people's sale of even 25%
of their total holdings on the U.S. market would be absolutely chaotic
in terms of the stock market, real estate and everything else.The
catastrophic effect has been designed to throw the American stock
market, the American corporations, the American real estate, and
people in general into a state of confusion. The plan is that this
state of con-fusion will be greated with the salvation of the
benevolent bankers on three fronts:


1. They propose to eliminate cash because of the collapse.


2. Stop drug trafficking because the drug traffickers would now have
no money to use.


3. Stop tax cheating.



Now, couple that with the multitude of other Countries invested in the US, plus all that we've loaned them that we will be out. Even if we set our debt to zero and swith to metal backed currency. The Fed owns all the Metal. And, will own everything previously owned by all others. They will own every person, place, and thing on Earth and in Space.

Look for it, when it comes, it WILL be done. The Fed will have allResourse and Property rights to the World, IN PERPETUITY (that's FOREEEEEEEEVER!)

Manufacturing, how do you propose to pay for it? Don't forget, they will own all profits, and you will still owe them, Perpetual Debt. You will never get out of the cycle.

[edit on 22-2-2009 by PhyberDragon]



posted on Feb, 22 2009 @ 07:51 PM
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Originally posted by bigvig316
reply to post by BlackOps719
 


It seems that we're on the eve of destruction. It is a tinder box world issues that we are dealing with at this point. The economy in the world is shot and more and more companies are going belly up and/or ask for a hand out from congress. It is also happening the world over with banks losing everything that people have invested in them. You're also right with the Korea's and Israel and Iran looking like they are going to go at it and the America step up in Afghanistan is also helping to push the world to the brink. But WAR is the one machine that jump start any economy. It worked for the great depression. War is always a money maker and the powers that be know this all to well.


War is not profitable actually. In small bursts, yes. In prolonged extractions and dispersed it can become draining. The larger it becomes and the more widespread, the more diminished the capacity to keep up. Further, other areas of life become increasingly more consumed by it and neglected. Small Business is ruined. Large business suffers costly refits, retoolings, and a complete change in Executive paperwork and have to constantly relearn form after form. DHHS does this now, the government required forms and revisions are so constantly changing within the beuracracies and from one administrative and/ or policy change to the next, that, a well kept government secret is that their clerks suffer from an extremely high rate of turnover from ever more increasing anxiety as workers try to keep up with one current form or style to the next-- and backdate records constantly to reflect the changes. Then many businesses suffer from converting hardfiles, which forms are always changing, into computerized copies, which programs, systems and functions are always evlolving and changing as well, and all of that is in direct proportion to the growth and expansion or reduction and downsizing of the business in direct proportion to their operating capital and expenses. Now, you take just the paper work and retooling aspects, alone. Then, throw in all the mutating and set regulations, rules, policies, laws, acts, treaties, Corporate vs Common vs Contract vs Business specific ordinances, laws, rules, guidelines, regulations, policies, organization, management, integrations, etc. And something has to give. Money does not common sense make.
War, as Germany learned can easily be mismanaged by ignoring one aspect or another. Hitler should have power based and grew his war production before spreading himself thin on all fronts and he would have won. He attacked to much with to little, and did not account for maintainance and repair, as well as, reinforcement capapbilities. He could have made a few assaults, but, attacking our secret allies, the USSR, he overstepped before he was prepared. He could easily have succeeded, history likes to ignore and forget that.

War can destroy profit if it goes on too much too fast for too long. And on a global scale, please. Remember the Carriage factory whose workers didn't realize they were building weapons. By walking the assembly line through the plant one day, a poor employee who couldn't afford a carriage for his own new born was allowed by other employees to sneak parts off the line and build his own. As each employee had their own peices to make and the pieces were made in several buildings and shipped off for asembly elsewhere, they thought they were making baby carriages. Can you imagine his shock and horror, when the poor employee, attempting to make his baby a carriage, put together a weapon instead? War had even made it so you couldn't make a baby carriage anymore, and they lied to the people to get them to make it because if they were told the truth that weapons were more important than babies, their would have been outrage.

War is not profitable, it just centralizes wealth more and more to International Banks vis a vis the Fed Reserve.



posted on Feb, 22 2009 @ 08:09 PM
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Originally posted by weedwhacker
reply to post by Logarock
 


Brilliant.....you just tore down Capitalism, at the same time you tried to prop it up....I think.....


Well, we've seen Communism fail, we know that Socialism may fail, Capitalism is teetering on thin legs.....

Is a money-based idea of a society doomed to fail??

What else is there????


[edit on 2/21/0909 by weedwhacker]

[edit on 2/21/0909 by weedwhacker]


There is Barter. Why do you think the US declares it illegal?



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