Who are the Architects of Economic Collapse?

Michael Chossudovsky of Global Research gives a rundown of the global economic collapse and names the chief engineers behind it:

In a bitter irony, the engineers of financial disaster are now being considered by President-Elect Barack Obama's Transition Team for the position Treasury Secretary:

Lawrence Summers played a key role in lobbying Congress for the repeal of the Glass Steagall Act. His timely appointment by President Clinton in 1999 as Treasury Secretary spearheaded the adoption of the Financial Services Modernization Act in November 1999. Upon completing his mandate at the helm of the US Treasury, he became president of Harvard University (2001- 2006).

Paul Volker was chairman of the Federal Reserve Board in the l980s during the Reagan era. He played a central role in implementing the first stage of financial deregulation, which was conducive to mass bankruptcies, mergers and acquisitions, leading up to the 1987 financial crisis.

Timothy Geithner is CEO of the Federal Reserve Bank of New York, which is the most powerful private financial institution in America. He was also a former Clinton administration Treasury official. He has worked for Kissinger Associates and has also held a senior position at the IMF. The FRBNY plays a behind the scenes role in shaping financial policy. Geithner acts on behalf of powerful financiers, who are behind the FRBNY. He is also a member of the Council on Foreign Relations (CFR)

Jon Corzine is currently governor of New Jersey, former CEO of Goldman Sachs.

I will add to this list former Fed Chair Alan Greenspan, current Fed Chair Ben Bernanke, and current Treasury Secretary Henry Paulson. I must not also forget their accomplices President George W. Bush, Vice President Dick Cheney, and all members of Congress who have failed to hold the Federal Reserve accountable for their 95 years of destructive monetary policy.

Outrage: Fed Refuses to Identify $2 Trillion in Bailout Loans

The Federal Reserve has deceived the American people yet again. From Bloomberg News:

The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.

Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September they would comply with congressional demands for transparency in a $700 billion bailout of the banking system. Two months later, as the Fed lends far more than that in separate rescue programs that didn't require approval by Congress, Americans have no idea where their money is going or what securities the banks are pledging in return.

Bloomberg News has filed a lawsuit against the Fed to force disclosure of the recipients of the loans. I remember opponents of the bailout predicting that the failure to mandate full disclosure would lead to all sorts of corruptions.

It turns out that the Treasury never intended to fully disclose how much private firms will be paid for their services in receiving the bailout money. Back in October, Paulson blacked out key sections of the first update on the bailout the government provided to the public. You can find the copy of the bailout report on Bailoutsleuth.com.

$2 Trillion!!! Of taxpayer money!!!

I'll leave you with the wise words of Ron Paul and Glenn Beck:

New Tri-Polar Currency Emerging

This essentially means that the hegemony of the US dollar is going to end. Taken from Bloomberg:

European Central Bank council member Ewald Nowotny said a "tri-polar'' global currency system is developing between Asia, Europe and the U.S. and that he's skeptical the U.S. dollar's centrality can be revived.

"What I see is a system where we have more centers of gravity'' Nowotny said today in an interview with Austrian state broadcaster ORF-TV. "I see for the future a tri-polar development, and I don't think that there will be fixed exchange rates between these poles.''

Nowotny doesn't think "there will be fixed exchange rates between these poles." In other words, North America, Europe, and Asia would share a single currency. There is already a European Union which has the euro, but what about North America and Asia? Are we going to see a North American Union and the creation of the "amero"?

In 2005, the White House engaged in the Security and Prosperity Partnership for North America, or SPP. They deceptively call it a "North American Partnership", and its goal is to "increase security and enhance prosperity among the three countries." They say the SPP is not an agreement nor is it a treaty and no agreement was ever signed, but it is only a dialogue between Canada, the US, and Mexico. Interestingly, there is a "Myth vs Facts" page on the SPP website that I suggest you read.

I believe Alex Jones points it out succinctly in these three short videos the plans for creating a global currency. The fascinating point here is that he cites mainstream articles, e.g. Bloomberg, AP, and yet some people brush him off as a conspiracy theorist. It's not a conspiracy theory if it's in the mainstream media!

Glenn Beck: Martial Law in America Coming Soon

Hyperinflation:

In economics, hyperinflation is inflation that is "out of control", a condition in which prices increase rapidly as a currency loses its value. Formal definitions vary from a cumulative inflation rate over three years approaching 100% to "inflation exceeding 50% a month." In informal usage the term is often applied to much lower rates. As a rule of thumb, normal inflation is reported per year, but hyperinflation is often reported for much shorter intervals, often per month.

The definition used by most economists is "an inflationary cycle without any tendency toward equilibrium." A vicious circle is created in which more and more inflation is created with each iteration of the cycle. Although there is a great deal of debate about the root causes of hyperinflation, it becomes visible when there is an unchecked increase in the money supply or drastic debasement of coinage, and is often associated with wars (or their aftermath), economic depressions, and political or social upheavals.

Hyperinflation in the Weinmar Republic:

Before World War I Germany was a prosperous country, with a gold-backed currency, expanding industry, and world leadership in optics, chemicals, and machinery. The German Mark, the British shilling, the French franc, and the Italian lira all had about equal value, and all were exchanged four or five to the dollar. That was in 1914. In 1923, at the most fevered moment of the German hyperinflation, the exchange rate between the dollar and the Mark was one trillion Marks to one dollar, and a wheelbarrow full of money would not even buy a newspaper. Most Germans were taken by surprise by the financial tornado.

This might be the future for Americans. The dollar is destined to collapse, and many believe it is being systematically destroyed. Those responsible for the collapse of the dollar and possibly other world currencies, mainly the Federal Reserve and other large powerful private banks, have created artificial mass panic in the markets. The fear of countries going broke is a reality, and the reaction to do something about it quickly is what's happening. The world has been deceived into accepting "their solution" - the same people who created this mess. The ultimate goal is to create a unified global central bank and financial system, a sort of "new world order", where there will possibly be only one currency. Is this possible? It seems like it's more possible everyday.

Modern Money Mechanics

LaRouche: "They Will Kill You"

For more on Lyndon LaRouche, visit his website here.

The Beginning of the End...

WASHINGTON (AP) - President Bush quickly signed into law a far-reaching $700 billion bill to bail out the nation's tottering financial industry, calling it "essential to helping America's economy" weather the storm.

The president signed the bill Friday about an hour and a half after the House completed congressional action on it with a 263-171 vote, underscoring the sense of urgency surrounding the measure.

"I know some Americans have concerns about this legislation, especially about the government's role and the bill's cost," Bush said in remarks in the Rose Garden.

"As a strong supporter of free enterprise, I believe government intervention should occur only when necessary. In this situation, action is clearly necessary."

This explains how America, as we know it, was taken over by the banking elite: