To those of us who are paying attention and have a realistic understanding of fiat currencies and credit based markets, this comes as no surprise.
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From the category archives:
Economics
I traveled up to Helena, MT yesterday to attend the “first ever” organized national protest of the Federal Reserve bank.
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This kind of moment is pretty rare on US mainstream television. Peter Schiff calls out the state of the economy how it is. There is so much truth in this six and a half minutes that it’ll make your head spin.
Schiff’s been very accurate in his predictions over the last couple years. As you’ll see [...]
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One of the greatest flaws of the modern American economy is that most Americans don’t understand it. If the people readily understood it, there would be protests in the streets tomorrow. Tomorrow is not as far off as it seems.
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Word is that mortgage giants, Freddie Mack and Fannie Mae – the largest backers of US mortgages – are facing serious finanical troubles. Just as with Bear Stearns, a major investment banker, the Federal Reserve is being asked to make up the shortfall. Don’t misunderstand, such an act will have a devastating impact to our economy and will send us into a downward spiral that will last for years to come.
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