Natural News Store

Showing posts with label financial crisis. Show all posts
Showing posts with label financial crisis. Show all posts

Thursday, March 12, 2009

Ron Paul: Culprits Of Financial Collapse Should Be Arrested

Not treated as saviors and given more power to “fix” the problem that they created

Ron Paul: Culprits Of Financial Collapse Should Be Arrested 120309top2

Paul Joseph Watson
Prison Planet.com
Thursday, March 12, 2009

Congressman Ron Paul says that the people responsible for the economic crisis should not be hailed as saviors and given more power to fix the problem that they created, but arrested and criminally prosecuted.

Paul told the Alex Jones Show that the only way the private Federal Reserve could be brought under control would come as a result of a mass uprising, noting that there is a lot more awareness in Washington about the Fed’s contribution to the economic crisis.

The Congressman has two bills before Congress, one to abolish the Fed altogether and another to audit the organization.

“Today they’re protected, they’re in total secrecy and they’re protected by the law - if 1207 is passed we have an audit and they have to answer the questions and I figure, if we ever get that far and get the exposure and get the transparency that we need then people will wake up and realize, why do we have them at all,” said Paul.

The Congressman’s bill to audit the Fed is similar to another bill introduced by Bernie Sanders in the Senate which is aimed at getting the Fed to answer specific questions about where $2 trillion in bailout funds has gone, a subject that Bloomberg News sued the Fed simply to try and discover. Staggering scenes unfolded last week at a Senate budget Committee meeting when Bernanke arrogantly refused to state where any of the bailout money had gone despite repeated questioning by Sanders.

Asked if the people who caused the economic collapse should be trusted as saviors or criminally charged, Paul responded, “We should have minimal government, but even in a minimalist government your government is supposed to deal with theft and physical harm and fraud, and that’s what’s going on and that’s what they ignore or protect….it’s horrible what they’re doing….and they should be prosecuting these people, these people should be in prison.”

The Texas Congressman also discussed Obama’s monetary policy, noting that every time a new government initiative was announced to supposedly rescue the economy, the stock markets sink.

“In spite of how a lot of people think the markets don’t know what’s going on, the markets are pretty smart, so the fact that they’re not responding, in spite of all this stuff the government is doing, every time the government comes up with a new program, the markets go down even more,” said Paul, noting that free market advocates were right in warning that the problems will only begin to be resolved once liquidation is allowed to occur.

Asked how bad the economic picture would get, Paul responded, “I think it’s going to be very prolonged, I don’t see any rebound, markets may come back up and that sort of thing but to rebound I would expect it to last every bit as long as happened in the 30’s,” adding that the last depression did not really end until after a world war.

“I think it’s going to be a long long time but now we live in greater danger because people are far more demanding, they believe they have a right to their neighbors property and that’s why there’s liable to be violence….ultimately they’re going to destroy the dollar,” said the Congressman, adding that the only quick solution to the crisis was to follow constitutional principles.

Listen to the interview with Ron Paul below.

Research related articles:

  1. Ron Paul Scolds Bernanke For Skipping Congressional Financial Hearings
  2. Ron Paul: Printing Money Only Prolongs The Pain
  3. Ron Paul Grills Bernanke: “You Can’t Reinflate The Bubble”
  4. Ron Paul: Fear Based Bailouts Constitute Economic Terrorism
  5. Ron Paul on The Alex Jones Show: “A Global Financial Order”
  6. Ron Paul: Government Spending Driving Us Into Depression
  7. Paul: Wars planned to save US empire
  8. Ron Paul: Bailout Will Destroy Dollar, World Economy
  9. Ron Paul: Greenspan, Bernanke Should Be Criminally Charged
  10. CNBC Anchors Mortified That Ron Paul Was Allowed Air Time
  11. Ron Paul Slams “Born-again Budget Conservatives”
  12. Ron Paul: Obama Foreign Policy Identical To Bush

Tuesday, February 3, 2009

The Whole World Is Rioting as the Economic Crisis Worsens -- Why Aren't We?

"The "slave mentality" is stronger in the U.S. than elsewhere, "in part because no other country on earth has so successfully crushed every internal rebellion."

Slaves in the Caribbean for example rebelled a lot more because their oppressors weren't as good at oppressing as Americans were. America has put down every rebellion, brutally, from the Whiskey Rebellion to the Confederate rebellion to the proletarian rebellions, Black Panthers, white militias ... you name it. This creates a powerful slave mentality, a sense that it's pointless to rebel.

Anyone who has witnessed the brutal police riots that have become so common since the infamous "Battle in Seattle" protests against the World Trade Organization in 1999 can tell you there's some merit to the argument."

One must also take into consideration that the U.S. is the most drugged population in the world, drugged by the medical and pharmaceutical industry that most of the population blindly trusts, drugged/poisoned per our water with toxic mind numbing fluorides first used on humans in Nazi, Germany to keep the prisoners docile, poisons in the air we breathe and the food we eat...forced vaccinations. One can't honestly believe that all of those poisons are actually given to us for our protection/health do you??

By Joshua Holland, AlterNet. Posted February 3, 2009.

Americans are rightfully angry about the economic decline, but with a few small exceptions, quietly so. Why? It depends on whom you ask.

Explosive anger is spilling out onto the streets of Europe. The meltdown of the global economy is igniting massive social unrest in a region that has long been a symbol of political stability and social cohesion. 

It's not a new trend: A wave of upheaval is spreading from the poorer countries on the periphery of the global economy to the prosperous core.

Over the past few years, a series of riots spread across what is patronizingly known as the Third World. Furious mobs have raged against skyrocketing food and energy prices, stagnating wages and unemployment in India, Senegal, Yemen, Indonesia, Morocco, Cameroon, Brazil, Panama, the Philippines, Egypt, Mexico and elsewhere.  

For the most part, those living in wealthier countries took little notice. But now, with the global economy crashing down around us, people in even the wealthiest nations are mad as hell and reacting violently to what they view as an inadequate response to their tumbling economies.

The Telegraph (UK) warned last month that protests over governments' handling of the crisis "are widespread and gathering pace," and "may spark a new revolution": 

A depression triggered in America is being played out in Europe with increasing violence, and other forms of social unrest are spreading. In Iceland, a government has fallen. Workers have marched in Zaragoza, as Spanish unemployment heads towards 20 percent. There have been riots and bloodshed in Greece, protests in Latvia, Lithuania, Hungary and Bulgaria. The police have suppressed public discontent in Russia and will be challenged again at large gatherings this weekend.  

Consider a snapshot of a single week of unrest, courtesy of the Guardian: 

  • Greece: "There are many wellsprings of the serial protests rolling across Europe. In Athens, it was students and young people who suddenly mobilized to turn parts of the city into no-go areas. They were sick of the lack of jobs and prospects, the failings of the education system and seized with pessimism over their future.

    "This week it was the farmers' turn, rolling their tractors out to block the motorways, main road and border crossings across the Balkans to try to obtain better procurement prices for their produce." 

  • Latvia: "The old Baltic trading city had seen nothing like it since the happy days of kicking out the Russians and overthrowing communism two decades ago. More than 10,000 people converged on the 13th century cathedral to show the Latvian government what they thought of its efforts at containing the economic crisis. The peaceful protest morphed into a late-night rampage as a minority headed for the parliament, battled with riot police and trashed parts of the old city. The following day, there were similar scenes in Vilnius, the Lithuanian capital next door."
  • France: "Burned-out cars, masked youths, smashed shop windows and more than a million striking workers. The scenes from France are familiar, but not so familiar to President Nicolas Sarkozy, confronting the first big wave of industrial unrest of his time in the Elysée Palace.

    "France, meanwhile, is moving into recession, and unemployment is going up. The latest jobless figures were to have been released yesterday, but were held back, apparently for fear of inflaming the protests." 

  • Explosive anger is spilling out onto the streets of Europe. The meltdown of the global economy is igniting massive social unrest in a region that has long been a symbol of political stability and social cohesion. 

    It's not a new trend: A wave of upheaval is spreading from the poorer countries on the periphery of the global economy to the prosperous core.

    Over the past few years, a series of riots spread across what is patronizingly known as the Third World. Furious mobs have raged against skyrocketing food and energy prices, stagnating wages and unemployment in India, Senegal, Yemen, Indonesia, Morocco, Cameroon, Brazil, Panama, the Philippines, Egypt, Mexico and elsewhere.  

    For the most part, those living in wealthier countries took little notice. But now, with the global economy crashing down around us, people in even the wealthiest nations are mad as hell and reacting violently to what they view as an inadequate response to their tumbling economies.

    The Telegraph (UK) warned last month that protests over governments' handling of the crisis "are widespread and gathering pace," and "may spark a new revolution": 

    A depression triggered in America is being played out in Europe with increasing violence, and other forms of social unrest are spreading. In Iceland, a government has fallen. Workers have marched in Zaragoza, as Spanish unemployment heads towards 20 percent. There have been riots and bloodshed in Greece, protests in Latvia, Lithuania, Hungary and Bulgaria. The police have suppressed public discontent in Russia and will be challenged again at large gatherings this weekend.  

    Consider a snapshot of a single week of unrest, courtesy of the Guardian: 

  • Greece: "There are many wellsprings of the serial protests rolling across Europe. In Athens, it was students and young people who suddenly mobilized to turn parts of the city into no-go areas. They were sick of the lack of jobs and prospects, the failings of the education system and seized with pessimism over their future.

    "This week it was the farmers' turn, rolling their tractors out to block the motorways, main road and border crossings across the Balkans to try to obtain better procurement prices for their produce." 

  • Latvia: "The old Baltic trading city had seen nothing like it since the happy days of kicking out the Russians and overthrowing communism two decades ago. More than 10,000 people converged on the 13th century cathedral to show the Latvian government what they thought of its efforts at containing the economic crisis. The peaceful protest morphed into a late-night rampage as a minority headed for the parliament, battled with riot police and trashed parts of the old city. The following day, there were similar scenes in Vilnius, the Lithuanian capital nextdoor."
  • France: "Burned-out cars, masked youths, smashed shop windows and more than a million striking workers. The scenes from France are familiar, but not so familiar to President Nicolas Sarkozy, confronting the first big wave of industrial unrest of his time in the Elysée Palace.
  • "France, meanwhile, is moving into recession, and unemployment is going up. The latest jobless figures were to have been released yesterday, but were held back, apparently for fear of inflaming the protests."

  • Iceland: "Proud of its status as one of the world's most developed, most productive and most equal societies, Iceland is in the throes of what is, by its staid standards, a revolution.

  • "Riot police in Reykjavik, the coolest of capitals. Building bonfires in front of the world's oldest parliament. The yogurt flying at the free market men who have run the country for decades and brought it to its knees." 

  • Britain (via the Times of London): "Wildcat strikes flared at more than 19 sites across the country in response to claims that British tradesmen were being barred from construction jobs by contractors using cheaper foreign workers." 

  • Russia (via Al-Jazeera): "Thousands of protesters have rallied across Russia to criticize the government's economic policies and its response to the global financial crisis.

  • "Russian police forcefully broke up many of the anti-government protests on Saturday, arresting dozens of demonstrators."

    At least in Western Europe, cries of "burn the shit down!" are being heard in countries with some of the highest standards of living in the world -- states with adequate social safety nets; countries where all citizens have access to decent health care and heavily subsidized educations. Places where minimum wages are also living wages, and a dignified retirement is in large part guaranteed.  

    The far ends of the ideological spectrum appear to be gaining currency as the crisis develops, and people grow increasingly hostile toward the politics of the status quo.

    The Financial Times quotes Olivier Besancenot, a young leader of "France's extreme left," promising "to reinvent and re-establish the anti-capitalist project." "We want the established powers to be blown apart," Besancenot said. Europe's far right is gaining momentum, too, using the economy and populist outrage over immigration to gain a legitimacy it hasn't enjoyed in some time. 

    Notably absent from the list of countries where the economic crunch is rending the social fabric is the good ole US of A, a state with the greatest level of economic inequality in the wealthy world.

    Outside of a few scattered and quickly contained protests, the citizens of the U.S. -- a country born of revolution, but with an elite that's been terrified of that legacy since immediately after its founding -- have been calm, despite opinion polls showing that Americans are more dissatisfied with the direction in which the country has been headed since they began measuring such things.  

    It's a baffling disconnect, considering that real wages for all but the top 10 percent of the economic pile haven't increased in 35 years.

    It's more bizarre still when you consider that while European governments have handled their own bailouts relatively transparently, the U.S. government has doled out close to $10 trillion in bailouts, loan guarantees and fiscal stimulus -- if there were a million-dollar bill, that would be a stack of 10 million of them -- with a stunning lack of oversight or accountability.

    Even the congressional commission charged with overseeing key parts of the banking bailout can't get answers to basic questions like "who's getting what?"

    Americans are rightfully angry about that state of affairs, but with a few small exceptions, quietly so. Why? It depends on whom you ask. 

    In a 2006 interview with Harper's, Barack Obama shared a subtle, but rather fundamental observation about America's political culture: "Since the founding," he said, "the American political tradition has been reformist, not revolutionary."  If there is to be positive change, Obama has argued, it must be gradual; "brick by brick," as he put it in one of his final campaign speeches.

    Mark Ames, author of Going Postal: Rage, Murder, and Rebellion -- From Reagan's Workplaces to Clinton's Columbine and Beyond, argues that Americans have been beaten down to a degree that they're now a pacified population, largely willing to accept any economic outrage its elites impose on them.

    In a 2005 interview with AlterNet, Ames said the "slave mentality" is stronger in the U.S. than elsewhere, "in part because no other country on earth has so successfully crushed every internal rebellion."  

    Slaves in the Caribbean for example rebelled a lot more because their oppressors weren't as good at oppressing as Americans were. America has put down every rebellion, brutally, from the Whiskey Rebellion to the Confederate rebellion to the proletarian rebellions, Black Panthers, white militias ... you name it. This creates a powerful slave mentality, a sense that it's pointless to rebel. 

    Anyone who has witnessed the brutal police riots that have become so common since the infamous "Battle in Seattle" protests against the World Trade Organization in 1999 can tell you there's some merit to the argument. 

    It's also the case that European societies tend to be more homogenous than the mishmash of tribes we call the United States. Whereas Americans are divided by religion, region, ethnicity, urban-rural tensions and all the other trappings of the "culture wars," the primary split in most European countries is class.

    Thomas Frank argued eloquently in What's the Matter With Kansas that those wedge social issues that the American right nurtures with such care obscure the fundamental differences between the rich and poor, the powerful and the disenfranchised.

    Indeed, any hint of discussion of economic inequality in the U.S. is shot down with cries of "class warfare" -- exactly what is playing out in the streets of much of the world today. 

    As the crisis deepens, as virtually every analyst predicts it will, that may well change. As The Nation's Bill Greider told Democracy Now's Amy Goodman, "you can't do this to people year after year -- that is, upturn their lives, take away what they thought they had earned, and so forth and so on, without provoking rather intense political reactions. ... We're just, just beginning to see a few bubbles like that around this country. I don't say we're going to have riots, but I think ... people, out of their own distress and anger, will organize their own politics, and they will make themselves seen and heard around this country."

    Stay tuned.

    http://www.alternet.org/workplace/124836?page=3

    Another Prominent Economist Forecasts Depression, Says Gold To Hit $2000

    Systemic financial meltdown will see prices more than double

    Steve Watson
    Infowars.net
    Tuesday, Feb 3rd, 2009

    Yet another renowned economist and investor has declared that the U.S. is entering a full scale depression that will see gold prices more than double in the near future.

    Canadian investor Eric Sprott, who rightly predicted the collapse of banking stocks last year, has told Bloomberg News that the U.S. has entered the worst economic slowdown since the Great Depression:

    “The trend is down, and there’s not one signpost that says it’s changing yet,” Sprott said yesterday from Toronto. “We’ll stand by to wait to see those, and until it does, you have to assume it gets worse.”

    Sprott, the chairman and founder of Sprott Asset Management Inc., a company worth $4.5 billion, also said that he sees gold prices hitting $2000 as a result of a systemic financial meltdown:

    “The window to raise money for gold stocks has blown open,” Sprott said. “The investing public has started to go to that one thing that they think it’s safe to invest in.”

    Gold is currently trading at around $908 per ounce, and while other commodities are falling off, gold producer's stocks have almost doubled in the past three months.

    Sprott also warned that the foreign investment in U.S. Treasury securities could dry up as countries concentrate on their own financial markets. Sprott said such activity would be “catastrophic”:

    “When do people stop buying the credit of the country? That’s a tough question to answer, but it’s on a lot of people’s lips right now,” he said. “Each country has their own financial problem, so there’s no funding for anything external.”

    Sprott's prediction mirrors that of numerous other fund managers and top investors such as Johann Santer, Jim Rogers, Robin Griffiths, Edward Hands and Jurg Kiener to name but a few, who are now predicting that global central banks' insistence on printing their way out of economic turmoil is setting the stage for a hyperinflationary holocaust, a knock-on effect of which will be gold's acceleration towards $2,000, as demand for precious metals outstrips supply.

    Meanwhile other prominent economists such as former chief credit officer at Fannie Mae Edward J. Pinto, philanthropist George Soros, the IMF’s top economist Olivier Blanchard, and Professor Peter Morici, a former chief economist at the U.S. International Trade Commission, have all concluded that the U.S. is entering a full scale depression.

    These summations dovetail with the analysis of renowned financial publication The Economist, which reported last month that, based on the characteristics of the current financial crisis, the U.S. is in a depression, not a recession.

    http://www.infowars.net/articles/february2009/030209Sprott.htm