US DOLLAR

[sometimeman]

TOTAL INFORMATION ANALYSIS
Total911.info::REVERE RADIO NETWORK::Total Info Radio
Monday, August 13, 2007
Helicopter Ben unleashes dollar hyperinflation

From Webster Tarpley, August 13, 2007:


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"By deciding to ante up $38 billion for a hopeless bailout of predatory Wall Street hedge funds and the banks that stand behind them, Federal Reserve Chairman Helicopter Ben Bernanke has placed the bankrupt US dollar on a direct course towards the precipice of hyperinflation. In so doing, he has given new momentum to the backers and controllers of Dick Cheney, who favor an insane flight forward into general war with Iran, deluding themselves that they can thus escape from both military defeat in Iraq and Afghanistan, and from the death agony of the dollar.

On August 9-10, the European Central Bank, the Bank of Japan, the Federal Reserve, plus the central banks of Australia, Norway, Switzerland, and other countries “injected” the equivalent about a third of a trillion dollars ($325 billion) into the money systems of the world. The Bank of Japan handed out a dramatic ¥ 1 trillion, about $8.5 billion. The European Central Bank showed signs of panic, or of realism, by spewing out about € 160 billion over two days. Their goal was to stave off a spreading panic at bond trading desks and in the capital markets of the world about junk bonds, collateralized debt obligations (CDOS), mortgage backed securities, and other paper debt instruments. At about 9 AM on Friday August 10, the Chicago futures markets suggested that the Dow Jones Industrial average would open down about 190 points. That meant the potential for spreading stock market panic, with the DJIA closing down 1,000 to 2,000 points or more by the end of the day, quite possibly pitching more banks and hedge funds into bankruptcy. Such an event would also tend to awaken the US middle class to the fact that their 401 (K) and IRA pension plans were being liquidated. This would make the financial crisis a political crisis as well, and perhaps stoke the fires of impeachment. Helicopter Ben therefore followed his predecessor, Bubbles Greenspan, on the path of bailout, although on a larger scale than what Greenspan had ever attempted in public. Bernanke and the New York Fed bought up $38 billion of toxic mortgage-backed securities from the principal hyenas of Wall Street -- led, we can be sure, by Goldman Sachs, Bear Stearns, Lehman Brothers, J.P. Morgan Chase, Merrill Lynch, and Citibank. For bailout purposes, the banks were given a sweetheart interest rate, just 4%, less than the 5.25% target Fed funds rate used for interbank lending, and much less than the 6.25% the Fed requires from banks coming to its own discount window under normal circumstances. The $38 billion, injected in three doses during the course of the day, in addition to other Fed measures, was almost enough to prop the market up for eight hours – the Dow closed with a loss of 31 points. So the central banks will need to provide more fixes, sooner rather than later.

As Alan Greenspan instructed Bill Clinton when the latter took office, the bond market, also referred to as the capital or credit market, is much more important than the stock market in the current US-UK financial system. Right now not just dubious junk bonds and mortgage-backed securities, but even the classic triple A investment grade corporate bonds, are in great distress. Indeed, the bond market has partially shut down in response to the crisis. This is far more serious than a mere stock market crash, such as the one of October 1987.

The Bank of England has said nothing about injections, and is poised to raise its interest rates once again, putting additional pressure on the dollar by tempting hot money to flee out of Wall Street to London. The British may well figure that when the battered US greenback goes under, the British pound sterling will remain afloat, and benefit from the US shipwreck. London has in any case already replaced New York as the real financial capital of the world; this has been a strategic priority for Gordon Brown for some years.

[sometimeman]

Comments:

Paper, unbacked 'money', yet another infringement on our rights by the gov't. Add it to the ever-growing list of violations:
They violate the 1st Amendment by opening mail, caging demonstrators and banning books like America Deceived (book) from Amazon.
They violate the 2nd Amendment by confiscating guns during Katrina.
They violate the 4th Amendment by conducting warrant-less wiretaps.
They violate the 5th and 6th Amendment by suspending habeas corpus.
They violate the 8th Amendment by torturing.
They violate the entire Constitution by starting 2 illegal wars based on lies and on behalf of a foriegn gov't.
Support Dr. Ron Paul and end this madness.

[sometimeman]

Economic Collapse As Precursor To Open Plan For Martial Law?
Many fear recession, bank run, strike on Iran or terror attack could signal green light for state of emergency

Paul Joseph Watson
Prison Planet
Thursday, August 16, 2007


The open announcement of a program on behalf of the federal government that is recruiting clergy to aid the authorities in "quelling dissent," gun confiscation and forced relocation in the event of martial law has many worried that the current economic plunge could be the precursor for a state of emergency in America.

www.prisonplanet.com/articles/august2007/160807_economic_collapse.htm

[sometimeman]

Momma, what/s martial law?

[sometimeman]

www.smartstox.com/interviews/a_bill_murphy.php

[sometimeman]

www.newswithviews.com/Devvy/kidd296.htm

[bored]

Well what about people who are gasping at the stock market? I kind of sit back and have to wonder what these folks would EVER do if they had to live below poverty means working for min. wage.. it could happen to anyone.. I hope that it doesn't tho.. for their sake.. and because there are some who just would not know how to cope without their luxury's!

[sometimeman]

WND Exclusive PREMEDITATED MERGER
Congress tells Bush: Back off SPP agenda


Lawmakers' letter warns 'stealth' effort to 'harmonize' could undermine security
While the letter authors express their support for the president's "desire to promote good relations with our neighbors to the north and south," they are worried about the secretive manner in which SPP is being conducted and concerned it "may actually undermine our security and sovereignty."

"For instance," the letter said, "measures that would make it easier to move goods and people across borders could have the effect of further weakening this country's ability to secure its frontiers and prevent illegal immigration."

worldnetdaily.com/news/article.asp?ARTICLE_ID=57203

[sometimeman]

Our Government is supposed to "coin" it's on money. Instead woodrow Wilson gave it to the international bankers!

Okay, so who has a better idea? The government of the island of Guernsey does, for one. Located among the British Channel Islands just south of Great Britain, Guernsey is so small that it has been able to stay under the radar long enough to try some experimental financing without raising the hackles of the international banking establishment that is normally in control of such things. When the Guernsey government needs funding, it simply issues the money it needs. In 1994, Dr. Bob Blain, Professor of Sociology at Southern Illinois University, wrote of this remarkable island:

In 1816 its sea walls were crumbling, its roads were muddy and only 4 1/2 feet wide. Guernsey's debt was 19,000 pounds. The island's annual income was 3,000 pounds of which 2,400 had to be used to pay interest on its debt. Not surprisingly, people were leaving Guernsey and there was little employment.

Then the government created and loaned new, interest-free state notes worth 6,000 pounds. Some 4,000 pounds were used to start the repairs of the sea walls. In 1820, another 4,500 pounds was issued, again interest-free. In 1821, another 10,000; 1824, 5,000; 1826, 20,000. By 1837, 50,000 pounds had been issued interest free for the primary use of projects like sea walls, roads, the marketplace, churches, and colleges. This sum more than doubled the island's money supply during this thirteen year period, but there was no inflation. In the year 1914, as the British restricted the expansion of their money supply due to World War I, the people of Guernsey commenced to issue another 142,000 pounds over the next four years and never looked back. By 1958, over 542,000 pounds had been issued, all without inflation.6

Guernsey has an income tax, but the tax is relatively low (a "flat" 20 percent), and it is simple and loophole-free. It has no inheritance tax, no capital gains tax, and no federal debt. Commercial banks service private lenders, but the government itself never goes into debt. When it wants to create some public work or service, it just issues the money it needs to pay for the work. The Guernsey government has been issuing its own money for nearly two centuries.

www.webofdebt.com/articles/infrastructure-crisis.php

[sometimeman]

What happend to the confederate dollars?

Those that decied how the rest of us should live have decided to ruin the US dollar and "save" us with its replacement!

TV NETWORK CNBC CONFIRMS: U.S. DOLLAR, CANADIAN DOLLAR AND MEXICAN PESO TO BE REPLACED BY THE "AMERO"
THOSE WHO ARE DELUDED INTO THINKING THESE ARE "FANTASY COINS" NEED TO GET THEIR HEADS OUT OF THEIR ASS!

Unlike many, I actually KNOW how the Minting process for currency actually works. They intially ask for designs. They hold a contest to choose a winning design. Then they begin produciung "collectors coins" and, finally, they implement the new coin.

The process is long, drawn out and expensive. It never happens for "fantasy."

When I received the images of the "AMERO" and published my story (shown several stories below) the government went into instant SPIN CONTROL to discredit the story. Suddenly, the coins became a "FANTASY COIN" issued by some obscure nobody. A quickie web site without graphics was erected offfering the coins for sale as "private issue fantasy coins." A day later, the quickie web site had blossomed into a craftily designed site with the exact same images of the coins as my images below. Within hours, word of my story spread so far and wide that the government needed more help with quelling what was spreading on the internet.

Low and behold, WorldNetDaily.com (WND) pops up with a story about the "FANTASY COIN" AMEROS. I learned long ago that WND is a shill for Israel and jew interests, so the timing of their story was clearly not coincidental.

The governments of the US, CANADA and Mexico are, in fact, moving to betray the citizens of each nation by collapsing the US dollar, causing fiscal chaos on the order of the 1929 great depression, and then using that "emergency" to merge the three countries and implement a new currency: The AMERO!

I stand-by my original story!
Not just coins, paper notes too!

I now have additional information that paper AMERO currency has already been printed by the DeLaRue company in the United Kingdom. I am told vast amounts of the paper currency are being stored in wooden crates in the United Kingdom, ready to ship at a moments notice!

Some of you know I speak the truth while others think my AMERO reporting is totally false. All you have to do to prove my reports are true is wait.

When the final act of betrayal occurs - the collapse of the currency and move to merge the countries and currency - at least two things will be true:

1) A lot of people will owe me an apology for claiming I lied, AND;
2) I and others like me will move against everyone responsible for the financial collapse and the merging of the three countries and we will stop them dead.

Instead of the US, CANADA and Mexico being "merged" the people perpetrating this effort will be "purged." There will be no hiding, no escape and no mercy.

www.halturnershow.com/

[shortcircuit]

BlackListed News is Your Total Resource for
Real Uncensored Daily World News, Information, and Commentary

Economic Expert: We Are Already In An Engineered Recession

Published on Wednesday, August 15, 2007.


Source: InfoWars.net - Steve Watson

Alex Jones was joined on air yesterday by investigative journalist, economic expert and Harvard Doctor of Political Science Jerome Corsi for an in depth discussion on the state of the economy and the engineered decline towards regionalization and a globalized monetary system.
Corsi warned that the crisis in the stock market we are currently witnessing is simply the tip of the iceberg and part of an overall meltdown that represents a gutting of the United States by neo-mercantilist institutions bent on the formation of a new global monopoly.

"We're gonna go through Stagflation, which is basically stagnation and inflation. We are already in a recession, it just hasn't been publicly declared yet. I think it will deepen through the rest of 2007 into 2008. Corsi stated.

"It's going to last several years, it's largely because we've lost so much of the manufacturing to China, even when our currency tanks, there are no exports we are producing anymore that will gain. The currency is gone, it is being sold off very quietly, worldwide, by the oil producing states, by China, the Euro is increasingly becoming our foreign exchange reserve currency.

The primary indices of inflation have been taken out of the indexes, food is not in and neither is energy prices. These two are going up hugely right now and are going to continue to go up."

Corsi warned that this is going to be the formula for producing the Amero, a continental solution to the tanking of the Dollar.

Listen to the entire eye opening interview here.
Last September Corsi received the first documents pertaining to a FOIA request asking for full disclosure of activities towards creating a Pan American Union.
The documents show that a wide range of US administrative law is being re-written in stealth under the Security and Prosperity Partnership program to "integrate" and "harmonize" with administrative law in Mexico and Canada, just as has become commonplace within the EU.

The documents contain references to upwards of 13 working groups within an entire organized infrastructure that has drawn from officials within most areas of administrative government including U.S. departments of State, Homeland Security, Commerce, Treasury, Agriculture, Transportation, Energy, Health and Human Services, and the office of the U.S. Trade Representative.

Corsi also reported that at a recent high-level confab in Banff, an assistant U.S. secretary of state, Thomas A. Shannon , chaired a panel that featured a presentation by Prof. Robert Pastor, author of a book promoting the development of a North American union as a regional government and the adoption of the Amero as a common monetary currency to replace the dollar and the peso.

Just a conspiracy theory? Not according to leading economists such as Steve Previs of Jefferies International who stated on CNBC, "I think one thing for people who are dollar based need to focus on is the Amero, that's the one thing that nobody is talking about that I think is going to have a big impact... on everybody's life in Canada, the U.S. and Mexico..."

A global crash and a totally devalued dollar that can barely rival the peso are greasing the skids for a single North American currency. This spells disaster for all Americans who wish to maintain their standard of living and not find themselves barefoot on the street in a bread queue.

Corsi went on to forecast a five to seven year deep recession:

"We will not recover from this for at least five years. If people think that housing values are dropped today it's nothing, housing values are going to go down fifty percent or more from the peak. We're going to come to a point when condominiums in certain markets are worthless.

It's not that there won't be buyers out there, there just won't be credit for them. You're going to have a credit crunch now, where even if you're qualified you're going to have to have 20% down and even then you might have a hard time getting a loan at a reasonable rate for a house."

Corsi urged anyone in the position to do so to quickly pay off any mortgages and get out of debt. Secondly he suggests investment in gold, rather than stocks and bonds which are based on fiat money and are going to decline tremendously in value:
"The derivative market could be a 450 trillion worldwide market that is going to collapse. Just in the hedge funds alone in the United States, and in the mortgage market there is between 3 and 5 trillion dollars of debt that is going to collapse. That means three to five trillion dollars of losses. Somebody is going to have to absorb that and the reason that the federal reserve is throwing out so much money into bank reserves is because we would've already had bank failures."
Dr Corsi also warned against the school of thought that says if you get a bigger mortgage, as long as you have savings to pay for it, you can accelerate the pay off of it with inflation. He stressed that unless you have a long term fixed rate mortgage and you fully understand the terms of your contract you could at any point be subject to a change in terms and the loan could be called in:

"There is going to be a grab on this property by people who have cash, and that's not going to be the middle class. People will lose their homes if they have large mortgages that they cannot comfortably sustain or pay off.

There's going to be a grab where the institutions and the people already wealthy will only gain, it's not going to be an opportunity for the average person to gain."

Corsi also asserted that the ongoing meltdown is a global one and it is going to be very severe, forcing regionalization and providing the impetus to saying harmonization of national economies is the only way we can handle this coming huge recession.

Dr Corsi firmly believes that the crisis is an engineered one on behalf of a global elite who have long pushed for a regionalization, a single currency and a market they can monopolize more effectively:

"It is engineered because again, the move toward globalism, the pumping of this liquidity to stimulate the markets was totally artificial. The federal reserve is going to get caught right now in a total dilemma, if it raises rates to protect the dollar, its going to further tank the economy and cause the housing markets to be in even more of a crisis. We have economic stagnation, the loss of real income, the loss of real wealth and inflation at the same time. With the dropping of the dollar the crisis is going to be manipulated to the point where people will take the Amero or any regional solution if it is proposed as the way you get out of your problem."
He further warned that the 400 billion injected into the stock markets last week is merely a temporary measure to slow down and control an overall meltdown and was only done to prevent a sudden massive crash. mirroring the analysis of the Financial Times of London and former World Bank chief economist Joseph Stiglitz Corsi stated that he sees no way to stop the meltdown, the only doubt left is whether it is going to be a fast or slow process.

He also believes there is an even money chance that there could be a huge 1929 style economic depression:

"This is the fastest run I've seen ever to get to the goal line of creating a Untied States regional economy, a North American Union. The elite are running like they'll never have this chance again. It is the tenth hour, the eleventh hour where this battle will be fought. They believe that they can win now and they are going for broke to create a North American Union and tank the dollar."
The decline of the economy in the US is being caused by the very predatory globalist policies that are still presented to us as the solution for economic turmoil. Globalist vampires such as the IMF and the World bank, but two of the elite central banks and private interests, have drained the third world dry, and are now focusing their attention on enslaving the developed world.

The single currency and a 'new economic order' is a major step on the road to global governance. Europe already has its own strong single currency, while the dollar's days seem to be numbered. When money is being printed and distributed by private corporations is it any surprise to see a push for a merger with other countries' currencies?

Talk has long been of a global currency by 2018 if plans go accordingly. A 1988 famous cover of The Economist emphasized this, depicting a phoenix standing atop burning paper money symbolizing its rise out of their destruction, with the words "Get ready for a world currency" next to it.

The article carried in The Economist, titled "Get Ready for the Phoenix," stated that, "THIRTY years from now, Americans, Japanese, Europeans, and people in many other rich countries, and some relatively poor ones will probably be paying for their shopping with the same currency."

The article went on to state that sovereignty will be lost with the advent of the new currency, but that trends towards globalization are already doing away with it anyway.

The phoenix zone would impose tight constraints on national governments. There would be no such thing, for instance, as a national monetary policy. The world phoenix supply would be fixed by a new central bank, descended perhaps from the IMF. The world inflation rate - and hence, within narrow margins, each national inflation rate- would be in its charge. Each country could use taxes and public spending to offset temporary falls in demand, but it would have to borrow rather than print money to finance its budget deficit. With no recourse to the inflation tax, governments and their creditors would be forced to judge their borrowing and lending plans more carefully than they do today. This means a big loss of economic sovereignty, but the trends that make the phoenix so appealing are taking that sovereignty away in any case. Even in a world of more-or-less floating exchange rates, individual governments have seen their policy independence checked by an unfriendly outside world.

"Pencil in the phoenix for around 2018, and welcome it when it comes," the article concludes.

In 2004 Robert Mundell, the Nobel-prize winning economist often credited with paving the way to the European single currency, called for a global currency.

In an interview with French paper Libération, Mundell said: "With the emergence of the euro and its instability against the dollar, Europe, the United States and the Asian powers should come together and create a new international monetary system."

In 2006 the scandal-ridden and highly secretive Bank For International Settlements, considered to be the world's top central banking policy, released a policy paper that called for the end of national currencies in favor of a global model of currency formats.

The BIS is a branch of the of the Bretton-Woods International Financial architecture and closely allied with the Bilderberg Group. It is controlled by an inner elite that represents all the world's major central banking institutions. John Maynard Keynes, perhaps the most influential economist of all time, wanted it closed down as it was used to launder money for the Nazis in World War II.

It appears we are now seeing the slow realization of a global economic system with a single currency.

The end game of such regionalizing harmonization is of course a global government.

It has long been recognized that an instant world government would be roundly rejected by the masses and that a stepping stone agenda, a stealth implementation of a new global order is the key to its success.

Writing in the April 1974 issue of Foreign Affairs, the flagship publication of the Council on Foreign Relations (CFR), Richard N. Gardner , who has held a number of State Department posts, argued against what he called "instant world government." Instead, he wrote, "the 'house of world order' will have to be built from the bottom up rather than from the top down. It will look like a great 'booming, buzzing confusion,' to use William James' famous description of reality, but an end run around national sovereignty, eroding it piece by piece, will accomplish much more than the old-fashioned frontal assault."

In a similar sentiment, former National Security Adviser and co-founder of the Trilateral Commission, Zbigniew Brzezinski pointed to "regionalization" as the key for "globalization" in his address to Gorbechev's State of the World Forum in October 1995: "The precondition for eventual globalization — genuine globalization — is progressive regionalization, because thereby we move toward larger, more stable, more cooperative units."

Last May the first steps towards the biggest "cooperative unit" there has ever been were cemented with the groundwork being set for a EU-US single market. However, as the CFR would say, amidst the "booming, buzzing confusion" few have noticed.

Jerome Corsi concluded by re-iterating that the economic crisis has been manufactured in order to provide the pre-scripted neo-mercantilist solution:

"We'd never get rid of the sovereignty of the United States or the dollar unless there was a crisis. The Council on Foreign Relations, two issues ago Ben Steel one of their top economists wrote an article openly declaring that national monetary systems were dead and that we need to go to regional moneys and that we need to go to global moneys. We are going to be told very quickly that the only way the federal government can protect us is if we allow the federal government to become a North American government."

[sometimeman]

"Yep pretty much, with oil contracts we can keep printing money to “trade” for oil, a pretty good deal for US and its economic partners. Without the oil there is nothing to back the fiat cash system and the empire crumbles".

www.dissidentvoice.org/2007/07/the-iraqis%E2%80%99-failure-to-pass-the-us-authored-oil-law/

[sometimeman]

A gallon of gas for a quarter?
deoxy.org/watch/QPwZ-wQFFu8

[sometimeman]

China may lead US economy to collapse dumping US dollar


The U.S. dollar is standing at the edge of a cliff, and most people don’t even know it.

Data released by the New York Federal Reserve shows that foreign central banks have been net sellers of U.S. treasuries over the past five weeks, with $48 billion having been sold since late July, and $32 billion in just the last two weeks.

China may lead US economy to collapse dumping US dollar

The U.S. runs budget deficits each year. If foreigners stop buying treasuries—or worse, start selling them—the dollar could be in big trouble.

The reduction in treasuries “comes as a big surprise and it is definitely worrying,” said Hans Redeker, foreign exchange strategy chief at bnp Paribas, one of Europe’s biggest banks.

The Telegraph reported that, according to Redeker, the numbers demonstrate “that world central banks are in a hurry to get out of the U.S.”

The nation that analysts are watching especially closely at this stage is China. Whether or not Beijing is selling its dollars can’t be officially confirmed until November, when the Treasury releases its tic data. However, top Beijing officials have been signaling for at least two years that dollar sales are increasingly imminent.

This past August, two Chinese government officials highlighted China’s massive U.S. dollar holdings (which include treasuries) and how it supports the value of the U.S. currency. They also noted that Beijing could use those holdings as a political weapon to counter congressional calls to revalue the yuan and impose trade sanctions on Chinese goods. Chinese state media referred to the country’s stockpile of U.S. dollars as its economic “nuclear option,” capable of destroying the dollar at will.

Beijing also clearly signaled that it would begin “diversifying” out of the dollar earlier this year when it announced plans to rebalance its $1.34 trillion currency reserves, which are mostly U.S. bonds. Already Beijing has created a $300 billion investment fund to use those dollars to purchase other assets in an attempt to increase its investment returns.

It should come as no shock, then, that China would now be selling its dollar holdings.

The danger, as the Telegraph notes, relates to the fact that China holds such a large amount of treasuries. Any confirmed evidence that China was no longer supporting the dollar, and was actually selling it, risks setting off “an unstoppable stampede” in which other nations would seek to dump their holdings before China swamps the market and demand for dollars is overwhelmed.

The implications of a run on the dollar due to Chinese treasury-dumping go far beyond just the value of the greenback.

Chinese demand for treasuries is one of the primary pillars supporting the dollar’s value. When China buys treasuries, it keeps the dollar strong, interest rates low, Chinese imports inexpensive, and consumers spending. Remove that pillar, and the whole U.S. economy is thrown into jeopardy.

The Trumpet has warned not only against the danger of relying on foreign creditors, but also that deteriorating economic conditions in general are frighteningly imminent. Even if China has not decided to dump the dollar yet, America’s massive and growing debt loads, huge trade deficit, ballooning government entitlement spending and corruption-plagued financial system based upon a precarious fiat currency mean that the dollar is certain to drop further in value.

The United States received the first crucial evidence that the tumbling housing market and a vicious credit crunch may be pushing it toward recession after figures showed it shed 4,000 jobs in August -- its first outright decline in four years.

The stunning number -- economists were forecasting a 100,000 gain -- coupled with downward revisions to previous months, sent stock markets reeling and the U.S. greenback to a 15-year low against major currencies, and raised speculation the U.S. Federal Reserve may chop interest rates 50 basis points instead of 25 at its Sept. 18 meeting.

And while Canada released solid jobs numbers yesterday, holding out hope the economy will resist a U.S. slowdown, analysts saw some chinks in the report. At least one economist is calling for a rate cut north of the border as the global credit crunch weighs on growth.

"The [U.S.] jobs data ... is simply horrific and fans the most pessimistic fears -- the housing market woes will undermine the U.S. consumer, push the U.S. economy into recession and drag down growth in much of the rest of the world," said Marc Chandler, foreign-exchange strategist at Brown Brothers Harriman in New York. "A 25-basis-point cut now would be disappointing. The Fed needs to get ahead of the proverbial curve."

The Dow Jones industrial average slid 1.87% to 13,113.38 on the report, the Nasdaq dropped 1.86% to 2,565.70, while Toronto stocks fell 144.48 points, or 1.1%, to 13,651.21.

The U.S. dollar index, which measures the greenback against a basket of currencies, fell to its lowest level in 15 years while investors fled to the safe haven of gold and U.S. treasuries. U.S. interest-rate futures priced in a 76% chance the Fed would drop interest rates to 4.75% from its current 5.25% setting, compared with 42% odds yesterday.

While the United States managed to hold its unemployment rate steady at 4.6%, details of the payroll report were poor with manufacturers, builders and even the government shedding jobs.

What's more, the trend is clearly weakening. Employers added only 44,000 to their payrolls on average over the past three months, compared with 147,000 in the first five months of the year and 189,000 in 2006, the Financial Post reports.

[sometimeman]

...Right into the Punch Bowl

Picture the financial markets as a giant party, with everybody queuing up to drink the Kool-Aid. Suddenly, someone keels over, then another. Somebody cries out: "Ewwww...there's a giant t**d floating in the punch bowl."

WhirlyBen (Bernanke, Chairman of the Federal Reserve Bank, which is private, not federal, has no reserves and is no bank, yet controls the dollar absolutely) shouts, "Relax, it's just a fake, plastic gag prop. Here, let me shovel in a bunch more to prove it."

"Gag is right," shouts another, "God, the smell is awful!"

That's kind of like what is taking place right now with regard to the dollar, as people begin to realize what "backed by the full faith and credit of the United States" really means.

Something's Coming...

There are ominous portents all over the landscape just now, indicating that something big is in the offing:

1. The impending and unprecedented Air Force Stand-Down ordered for this Friday, together with numerous civil defense "drills" scheduled during the coming week throughout America, not to mention war drills scheduled throughout the world.
2. The cancelled El Al (Israeli) flight schedule for Friday through Sunday (yes, the front end of the Jewish high, holy days, but that is not the point or the cause, rest assured).
3. The mysteriously meandering nuclear missiles that illegally flew cross-country suspended under wing on a bomber, not just as freight, which our government now claims was the result of an error (yeah, right, an error involving 5 nuclear missiles ... or was that 6 and now one is missing, as some claim?).
4. The Fed meeting scheduled for next Tuesday where discount rate cuts almost inevitably will be announced (if not sooner because of the ever-expanding mushroom cloud rising up over the collapse of America's housing and mortgage industries).
5. That just-released, already-proven-phony Bin Laden videotape (yes, Virginia, he died several years ago, just as then was reported upon extensively in the Arabic-language press but suppressed in the West, as so much is suppressed here).
6. That "accidental" emergency alert triggered in Illinois this morning.
7. Bush straining with everything he's got to get the American public on board with his "kill Iranians for Israel" plans.
8. Israel claims, suddenly, to have discovered nuclear installations in Syria.
9. Oil is about to breach $80 per barrel.
10. Dick Cheney's "gut feeling" that America's next terrorist attack "will be nuclear."
11. Michael Chertoff's "gut feeling" that America "will soon be hit hard."

Use Our Dollar or Die

Remember that for years, I have predicted that WWIII must start to mask implosion of the dollar. Hardly anybody seems to have noticed that the dollar, no longer backed by gold or, even, oil, now is backed by American military force alone (use our Dollar or die - just ask Iraq and, soon, Iran).

"They" clearly have made the stock market a priority. After all, crashing it (in absolute dollar terms) would lead to the current derivative hangover turning into a first-class nightmare faster than necessary. Discount and interbank interest rates - and general short-term interest rates, too - all have to ratchet down in order to continue the market's current death-defying act of levitation.

They Live!

Who are "They?" Please, there are children present. Go rent a copy of "They Live," then follow it up with a rewatch of "The Matrix" (ignore the sequels, which are trash) and you will understand. Then come back and ask me that question again.

The average American seems not to care that the measuring stick (the dollar) gets shorter every day, just so long as his stock portfolio or retirement account doesn't drop in value, as measured by the number of those sticks. He will, believe me. He will. I almost added "but then it will be too late," but it has been too late for years, already.

Meanwhile, you can have the punch if you like. I'll stick to things a bit more precious, things with a metallic aftertaste.

New America. An idea whose time has come.

My name is Edgar J. Steele. Thanks for listening. Please visit my web site, www.ConspiracyPenPal.com, for other messages just like this o