kranenbu on Sat, 12 Dec 2009 22:06:06 +0100 (CET)

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Re: <nettime> Carry On (was: Paul Krugman etc)

not only a treasure buble i think:

New underground economy

Richard W. Rahn is a senior fellow at the Cato Institute and chairman of
the Institute for Global Economic Growth.

"The underground or "black" economy is rapidly rising, and the fault is
mainly due to government policies.

Here is the evidence. The Federal Deposit Insurance Corp. (FDIC) released
a report last week concluding that 7.7% of U.S. households, containing at
least 17 million adults, are unbanked (i.e. those who do not have bank
accounts), and an "estimated 17.9% of U.S. households, roughly 21 million,
are underbanked" (i.e., those who rely heavily on nonbank institutions,
such as check cashing and money transmitting services). As an economy
becomes richer and incomes rise, the normal expectation is that the
proportion of the unbanked population falls and does not rise as is now
happening in the United States."


December 11, 2009 Is Obama really preparing for civil war? By Chuck

According to an obscure report in the European Union Times (,
"Russian Military Analysts are reporting to Prime Minister Putin that US
President Barack Obama has issued an order to his Northern Command's
(USNORTHCOM) top leader, US Air Force General Gene Renuart, to 'begin
immediately' increasing his military forces to 1 million troops by January
30, 2010, in what these reports warn is an expected outbreak of civil war
within the United States before the end of winter.

The EU Times article continues by saying, "To the fears of Obama over the
United States erupting into civil war once the full extent of the rape and
pillaging of these peoples by their banks and government becomes known to
them, grim evidence now shows the likelihood of this occurring much sooner
than later."

The Times story goes on to say that there are "over 220 million American
people armed to the teeth and ready to explode."

Many of us would be inclined to pooh-pooh such a story, but then there is
this column from entitled "Arming Goldman With Pistols
Against Public," written by Alice Schroeder.  According to Ms Schroeder:

"'I just wrote my first reference for a gun permit,' said a friend, who
told me of swearing to the good character of a Goldman Sachs Group Inc.
banker who applied to the local police for a permit to buy a pistol. The
banker had told this friend of mine that senior Goldman people have loaded
up on firearms and are now equipped to defend themselves if there is a
populist uprising against the bank."

There is no doubt that the American people have good reason to despise
these international banksters epitomized by Goldman Sachs. Even one of
Goldman's poster-boys, Henry Paulson, US Treasury secretary and former
Goldman CEO, admitted that the American people were fed up. Schroeder
quotes Paulson as saying, during testimony to Congress last summer,
"[People] were unhappy with the big discrepancies in wealth, but they at
least believed in the system and in some form of market-driven capitalism.
But if we had a complete meltdown, it could lead to people questioning the
basis of the system."

Schroeder correctly opines, "There you have it. The bailout was meant to
keep the curtain drawn on the way the rich make money, not from the free
market, but from the lack of one. Goldman Sachs blew its cover when the
firm's revenue from trading reached a record $27 billion in the first nine
months of this year, and a public that was writhing in financial agony
caught on that the profits earned on taxpayer capital were going to pay
employee bonuses."

I would dare say that the first State that determines to follow Vieira's
sagacious counsel (and rumblings of this have already begun in states such
as Alaska, Oklahoma, Texas, Montana, New Hampshire, Indiana, Tennessee,
South Carolina, etc.) would have so many liberty-loving patriots flock
there that its economy would explode with prosperity  resulting in a
domino effect of many other states following suit  and the revolution that
this country so desperately needs would indeed take place. Furthermore,
such a revolution would be constitutional, lawful, moral, and, yes, in
compliance with the laws of Nature and of Nature's God."

cheers! Rob

On Fri, 11 Dec 2009, Chad Scovi11e wrote:

> There is a treasury bubble coming in USD.

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