Sometimes there are things that are so shocking that you just do not want to report them unless they can be completely and totally documented. Over the past few years, there have been many rumors about a coming global currency, but at times it has been difficult to pin down evidence that plans for such a currency are actually in the works. Not anymore. A paper entitled “Reserve Accumulation and International Monetary Stability” by the Strategy, Policy and Review Department of the IMF recommends that the world adopt a global currency called the “Bancor” and that a global central bank be established to administer that currency. The report is dated April 13, 2010 and a full copy can be read here. Unfortunately this is not hype and it is not a rumor. This is a very serious proposal in an official document from one of the mega-powerful institutions that is actually running the world economy. Anyone who follows the IMF knows that what the IMF wants, the IMF usually gets. So could a global currency known as the “Bancor” be on the horizon? That is now a legitimate question. (Read More...)
This Economy Is Ripping The Dignity Of Millions Of Unemployed Americans To Shreds
If you can still put a roof over your head and food on the table for your family, you should consider yourself to be very fortunate. There are millions of Americans out there right now that are really, really suffering. The cold, hard reality of it is that there aren’t even close to enough jobs out there for everyone right now. It is almost as if we are all caught in a really bizarre game of musical chairs where the losers get stripped of their tickets to the middle class. What this horrible economy is doing to the dignity of millions of middle class Americans is incredibly saddening. There are a lot of very highly educated and very hard working Americans who cannot seem to get jobs no matter what they do and now find themselves doing whatever they can just to survive. It can be really hard to keep your dignity when you played by all the rules and you worked as hard as you could all your life and now you find yourself a half step away from being homeless. Those of us who are still doing okay should never look down on those who are struggling in this economy, because the truth is that any of us could be next. (Read More...)
Even Tony Robbins Is Warning That An Economic Collapse Is Coming
It seems like almost everyone is warning of a coming economic collapse these days. Do you remember Tony Robbins? He is probably the world’s best known “motivational speaker” and his infomercials dominated late night television during the 80s and 90s. He was always urging all of us to “unleash the power within” and to take charge of our lives. Well guess what? Now Tony Robbins is warning that an economic collapse is coming. In fact, he has issued a special video warning about what he believes is about to happen. Considering the incredible connections that he has at the highest levels of the financial world, it makes a lot of sense to consider what he is trying to warn us about. Robbins says that a “major retracement” is coming to financial markets and that the coming collapse is going to be a “painful process” as we go through it. Those familiar with Tony Robbins know that he always goes out of his way to stress the positive, so if even he is openly warning the public about a coming economic nightmare than you know that things are starting to get really, really bad out there. (Read More...)
We Killed The Goose That Laid The Golden Egg And Now The Number Of Americans Receiving Long-Term Unemployment Benefits Has Risen A Whopping 60 Percent In Just One Year
For middle class Americans, the new global economy has provided mountains of cheap products made in China, India and dozens of other nations, but it has also killed the goose that laid the golden egg. Millions of American workers have been discovering that the price for all of those inexpensive foreign-made goodies is their jobs. Now we have so many long-term unemployed workers in the United States that we are inventing new terms (such as “the 99ers”) to describe them. Unemployment is on the rise again (we’ll get to the figures in a minute) and everyone seems perplexed at the continuing inability of the “greatest economy in the world” to provide jobs for everyone. But the truth is that this has been coming for a long time. The debt-fueled prosperity of the past couple of decades allowed us to live far beyond our means and provide very high levels of employment for a while, but now economic reality is setting in. The millions of middle class jobs that have been shipped overseas are never coming back. Unfortunately, the existence of a large class of chronically unemployed Americans that are struggling just to survive is going to quickly become “the new normal”. (Read More...)
5 Trillion MORE Dollars To Fix Fannie Mae And Freddie Mac???
Fannie Mae and Freddie Mac have become gigantic financial black holes that the U.S. government endlessly pours massive quantities of money into. Unfortunately, if the U.S. government did allow Fannie Mae and Freddie Mac to totally implode, both the mortgage industry and the housing industry in the United States would completely collapse. So essentially the U.S. government finds itself between a rock and a hard place. Prior to the financial crisis of the last few years, Fannie Mae and Freddie Mac were profit-seeking private corporations that also had a government-chartered mission of expanding home ownership in America. But now that they have been officially taken over by the U.S. government, they have become gigantic bottomless money pits. It is hard to even describe just how much of a mess Fannie and Freddie are in. However, the unprecedented intervention by Fannie Mae and Freddie Mac in the mortgage market over the past couple of years has been about the only thing that has kept it from plunging into absolute chaos. So what does the future hold for Fannie Mae and for Freddie Mac? Well, according to one estimate, it could take another 5 trillion dollars to “fix” Fannie Mae And Freddie Mac. (Read More...)
Kicked In The Groin: Health Insurance Companies Are Dramatically Increasing Premiums Due To The New Health Care Law And There Is Not Much We Can Do About It
Wasn’t the new health care reform law supposed to make health care more affordable for everyone? Well, imagine my surprise when I opened up a letter from my health insurance company recently and found out that my health insurance premiums were going up by nearly 50 percent. I am in perfect health and I have never had a single health insurance claim with this company. Unfortunately, after doing a little research, I discovered that I am far from alone. All over the United States, people are being hit with double-digit percentage increases in their health insurance premiums even as the health insurance predators continue to rake in record profits. At a time when millions of American families are barely making it from month to month, the last thing they need is to be figuratively kicked in the groin by the health insurance companies. But that is exactly what is happening. (Read More...)
18 Signs That America Is Rotting Right In Front Of Our Eyes
Sometimes it isn’t necessary to quote facts and figures about government debt, unemployment and the trade deficit in order to convey how badly America is decaying. The truth is that millions of Americans can watch America rotting right in front of their eyes by stepping out on their front porches. Record numbers of homes have been foreclosed on and in some of the most run down cities as many as a third of all houses have been abandoned. Unemployment remains at depressingly high levels and the number of Americans on food stamps continues to set new records month after month. Due to severe budget cuts, class sizes are exploding and school programs are being eliminated. In some areas of the U.S. schools are even going to four day weeks. With little to no funding available, bridges are crumbling and street lights are being turned off in many communities. In some areas, asphalt roads are actually being ground up and turned back into gravel roads because they are less expensive to maintain. There aren’t even as many police available to patrol America’s decaying cities because budget problems have forced local communities across the U.S. to lay off tens of thousands of officers. (Read More...)
The Trade Deficit Nightmare
When they hear the word deficit, most Americans immediately think of the U.S. government budget deficit which is rapidly spiralling out of control. But that is not the only deficit which is ripping the U.S. economy to shreds. In fact, many economists commonly speak of the “twin deficits” that are destroying the U.S. financial system. So what is the “other deficit” that they are referring to? It is the trade deficit. Every single month, we buy much more stuff from the rest of the world than they buy from us. That means that every single month there is a massive outflow of wealth from the United States. Every single day, America becomes just a little bit poorer as Americans continue to run out and fill up their shopping carts with cheap plastic crap from China and dozens of other emerging economies. Not that trade is a bad thing. Trade can actually be a very good thing. But the gigantic trade imbalances that the United States has been running for years are absolutely bleeding us dry. Unfortunately, our politicians have just stood idly by as each month we continue to transfer massive amounts of wealth out of the United States. (Read More...)