Even a Calculator With No Batteries Computes This Action to Bankruptcy

December 15, 2014

And the Republicans did it to us! Apparently they didn’t get the message by way of their landslide midterm victories -the American people don’t want business as usual. Their win was supposed to be a mandate for change, a pull-back from the fiscal cliff.

BTW, why is the Chicago Fed bricking up the windows in the ground floor? Do they know something we don’t?time bomb

So what’d they do? The $1.01 trillion dollar omnibus bill just passed  allows the banks to stuff $300 TRILLION worth of toxic derivatives under the FDIC umbrella, putting taxpayers on the hook for the inevitable losses (hat-tip Bill Holter of Miles Franklin). Understand that the FDIC was already heavily over-leveraged with only $54 billion insuring over $6 trillion, now add $300 trillion more, all I can say is forget about it! Michael Snyder of The Economic Collapse blog wrote about it too.

And how did they come up with this idea? Well the legislation just passed by the house and awaiting Senate approval was provided & crafted by none other than Citigroup as reported by Mother Jones a year ago!

This is why we have to get away from the massive omnibus bills (this one over 1,600 pages) that nobody reads. The longer the verbiage in any legislation, the more opportunity to slip in favors and deals that are not in the best interests of ‘Joe-citizen taxpayer, you and me!

The Citi-drafted legislation will benefit five of the largest banks in the country—Citigroup, JPMorgan Chase, Goldman Sachs, Bank of America, and Wells Fargo.

NO ONE in Washington can be trusted. They will NOT fix themselves. The government and the banksters are way to cozy under the covers. We must take advantage of the tool left to us by the framers in the form of Article V, section 2 of the U.S. Constitution. Learn more about the only method available to us -short of revolution, to rein in the over-reach of the federal government at Convention of States. Sign up for an interactive live broadcast happening tomorrow.

Aloha, Mikie ~just a blogger (fightin’ like a girl)

~Psst, tired of politics? Check out Travel in the Categories drop down menu (right side panel) for my blogs posted from interesting locations during my travel adventures. 

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Will China Take Our Resource-Rich Land & Our Reserve Currency Status In Exchange For Our Debt?

January 24, 2013

China is concerned (apparently more so than our own Congress) that the US cannot make good on its debts. They have recently and publicly for the first time, called for a new reserve currency though we already know of numerous direct trade agreements with many other countries eliminating the use of the US dollar. Check this out from Bill Holter at Miles Franklin to see the ramifications of the US losing the privilege of issuing the worlds’ reserve currency.

china dragon vs eagleHow will our debt be paid? It won’t be through a miniscule debt reduction over ten years if or when the Senate gets around to passing a budget. It won’t be by lowering the Social Security eligibility age a few years. It won’t be though taxation, no matter how high.

The Boston Globe reports dozens of Chinese companies are putting down roots in Detroit. We don’t have to exchange US debt held by China, Detroit is a fire sale! In addition these Chinese companies are hiring veteran engineers and designers in an effort to soak up the talent and expertise of domestic automakers and their suppliers.

According to Jerome Corsi at World Net Daily, the Bank of China, China’s central bank, continues to advance a plan to convert China’s holdings of U.S. debt into equity owned by China in the U.S. This started in 2009 after our last economic meltdown. Jerome Corsi asks

“Could real estate on American soil owned by China be set up as “development zones” in which the communist nation could establish Chinese-owned businesses and bring in its citizens to the U.S. to work?”

Obviously this plan has gained a lot more urgency on China’s part on day fifteen of the US government shutdown coupled with yet another debt ceiling ‘crisis’ before us. Would Obama sell us down the proverbial river? To get the monkey off our back? The answer is YES! In a heartbeat –in a New York minute, like an inner city tenement house on fire!

Again from Corsi, the Obama administration, under the plan, would grant a financial guarantee as an inducement for China to convert U.S. debt into Chinese direct equity investment. China would take ownership of successful U.S. corporations, potentially profitable infrastructure projects and high-value U.S. real estate.

Our ineffective, dishonest, self-serving leaders in Congress and the White House are setting up a very grim future for America and Americans.

Aloha, Mikie ~just a blogger (fightin’ like a girl)


Cliff Notes For The Fiscal Cliff; Some Fun Followed by the Cold, Hard Truth

December 31, 2012

First we need some humor for a very un-funny subject, so please enjoy this video.

Now unfortunately, it’s time for the cold, hard truth. This is short and sweet and I give credit to one of my favorite websites, Miles Franklin and its excellent daily newsletter. This particular tidbit is from Jim Sinclair.

The Fiscal Cliff in perspective

Lesson # 1:

  • U.S. Tax revenue: $2,170,000,000,000
  • Fed budget: $3,820,000,000,000
  • New debt: $ 1,650,000,000,000
  • National debt: $14,271,000,000,000
  • Recent budget cuts: $ 38,500,000,000

 

Let’s now remove 8 zeros and pretend it’s a household budget:

  • Annual family income: $21,700
  • Money the family spent: $38,200
  • New debt on the credit card: $16,500
  • Outstanding balance on the credit card:
  • $142,710 Total Budget Cuts So Far:  $38.50

Let’s face facts folks, the current political system is broken. We won’t live long enough to see it change. What about a whole new way of doing things? Check these out:

http://youtu.be/tLoYxr8gOP4

http://youtu.be/s02SypCcYIc   (This is long, but it is profound, so plan to watch it when you have time)

Aloha, Mikie ~just a blogger (fightin’ like a girl)


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