Monday, July 14, 2008

And A Nigger Will Clean This Up? #2


Naw, It's Not A Recession
Bob Moriarty
July 14, 2008

Naw, it's not a recession. It's a depression for sure. Those who have been reading me for the last year or listening to my radio interviews have been forewarned. The rest of the market is just now waking up.

Last Friday, July 11, 2008 after a 99% decline in the price of IndyMac from $36 a year ago to $.28, the FDIC announced seizure of the bank. It's the second largest bank failure in US history.

But it won't be for long.

Fannie Mae and Freddie Mac have their heads on the chopping block and they are next. Along with Lehman Brothers, Bank of America, UBS and loads of others. They are all underwater and have been for a year.

I'm 61 and the single most important day economically in my entire life was August 15, 1971. That's the day Nixon broke the last tie between the US Dollar and gold. It was the kiss of death for the dollar because it allowed both governments and consumers to go on a wild spending spree: all believing they could write checks that would never be cashed. Well, it's time to balance the books and the books have been cooked.

Soon, maybe this week, the US government is going to announce nationalization of Fannie Mae and Freddie Mac. They are leveraged 65-1. That will be the most important financial day in your lifetime. It will be the end of the US dollar and our Republic.

Here's what it means. The US Government is going to take over $5.3 trillion dollars worth of mortgages, most of which are underwater and will never be paid. The theory is that the US will make Fannie and Freddie paper good by making it as good as US Treasuries. Actually the opposite will happen.

Imagine that you have a giant 100-gallon punch bowl filled to the brim with delicious tasting rum punch. And someone drops in a tiny turd. What does the next glass of rum punch taste like? Right.

The US government is on the verge of turning their nearly worthless paper into used toilet paper. Nationalization is a vote for hyperinflation.

But a total collapse of the financial system is not the biggest problem we face. In 1995 Israel decided they weren't able to steal enough land from the Palestinians via the peace process so they made a "Clean Break from the Peace Process." In effect, they would destroy anyone within a thousand miles who might ever be a threat to them.

The Mossad (Motto: By Way of Deception) began circulating rumors of an impending Iranian nuclear weapons program as early as 1987. So when the Jews' US sock puppet George Bush starts talking about the Iranians coming up with a nuclear weapon any day now, he is doing nothing more than acting as an unpaid agent for the Mossad.

The Persians have a better sense of history than George Bush. But then, a rock has a better sense of history than George Bush.

A short search on the internet brings up an interesting analogy to what is going on today.

The expression "as rich as Croesus" comes from the legendary wealth of the king who reigned from 560 to 546 BC over Lydia in western Asia Minor. Gold from the mines and from the sands of the River Pactolus filled his coffers to overflowing. The Lydians in the time of Croesus, it is believed, were the first people to mint coins as money.

The fame of the splendid court of Croesus at Sardis attracted many visitors. One of these, according to a legend, was Solon, the lawgiver of the Greeks. The king proudly displayed his treasures and asked Solon who was the happiest man that he had met. Solon named two or three obscure men who had lived and died happily. Croesus was surprised and angry and said: "Man of Athens, dost thou count my happiness as nothing?" "In truth," replied Solon, "I count no man happy until his death, for no man can know what the gods may have in store for him."

There was indeed great misfortune in store for Croesus. Cyrus the Great of Persia, extending his vast domains, was soon threatening the kingdom of Lydia. Croesus consulted the oracle of Delphi in Greece. The oracle replied: "If Croesus goes to war he will destroy a great empire." So Croesus went out to meet the army of Cyrus and was utterly defeated. He destroyed his own great empire.

The President of Iran and most of the world understand what Clueless George and Israel do not. If the US attacks Iran or allows Israel to attack Iran, a great empire will be destroyed. Maybe one and a half, counting Israel.

On that joyful note, may I suggest that you seek safe haven while you still can? In all of history, when evil was about, gold and silver in physical form served as a good insurance policy. If you do not have some physical gold and silver in your possession, you don't get it. Times are about to get as bad as they have ever been in history. Seek shelter from the storm.

5 Comments:

Anonymous Anonymous said...

Well, you can't eat gold or silver, so if you're going to carry around a lot of heavy metal, best make it lead (complete with casings)... .45 or 9mm ammo will get you what you need faster than gold or silver... once society falls.

1:23 PM  
Anonymous Heimdall said...

Will a form of orwellian society emerge when the West have crumbled into smitherens ? Perhaps the yellow man will rule the ruins of the smashed society ? Maybe Indians and africans will pour out of their homecountries and destroy the white race once and for all. As the jew are a parasite riding on the backs of the men and woman of the world, perhaps this time the parasite will kill its victim.

12:25 AM  
Anonymous Anonymous said...

If 5 trillion Jew counterfeit "dollars" are about to be injected into the currency supply, then inflation is indeed going to go through the roof.

Myself, I have 60k "dollars" in the bank, and ~8k in physical gold and silver in my possession. I'm thinking I may need to do something with that 60k in currency before it goes to nothing in the near future.

4:55 AM  
Anonymous Roger Young said...

I hope all these goddamned retiring Baby Boomers lose their big RVs and everything else they've got, and I hope they end up under a bridge with all their gold and silver in a shopping cart. They are the ones who sat by for 50 years and let this happen. They are the assholes who voted for Bill Clinton and George W. Bush. I hope God steps on their heads.

11:29 AM  
Anonymous Keith Frost said...

After having watched "The Money Masters" on Google Video, it is obvious to me that this debt the government is taking on is all part and parcel of a scheme to make the wealthy Jewish bankers wealthier.

5:08 PM  

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