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Starting a conversation about the economy


I get their attention by explaining to people that the real unemployment rate is 22% according to http://www.Shadowstats.com . 43,000 American factories have closed since 2001. For every factory worker there are ten or more other workers who were dependent on that factory being employed.

I tell them that we are close to the 1933 rate of 25%. I then say that we will have a much higher unemployment rate than in 1933 because farmers are never counted as unemployed no matter how poor and hungry they are.

We do have many more people employed by government but when the dollar collapses. The IMF told many foreign nations were told to fire half of their teachers, hospital workers and police. When, not if, the IMF tells us to make those cuts, our unemployment rate will hit 30% or more.

THEN I TELL THEM SOLUTIONS.

The Federal Reserve is a privately owned bank that has a license to create our currency. The FED pays the US Mint 3 1/2 cents to print a dollar, then they exchange those newly printed Federal Reserve Note dollars for US Treasury bonds. If the government printed Greenbacks or Treasury Notes as Lincoln and Kennedy wanted, we would have no government debt.

We have spent 13 trillion dollars on Bailouts due to Credit Default Swaps which are a hybrid between a derivative and insurance. If you buy fire insurance and have a fire, you can call the insurance company and get money from a fund they are required by law to set aside to pay claims.

But look at CDS. They are unregulated. When AIG sold CDS that went bad, there was no such fund required, we had to pass Bailouts to the tune of 13 trillion dollars. We have many off setting CDS so we the taxpayers are only liable for 600 trillion dollars in possible Bailouts.

No amount of budget cuts will pay for all those Bailouts and fraudulent Treasury loans.

All that is left is revolution. We need to take over the Federal Reserve, outlaw debt based currencies, cancel all Credit Default Swaps and regulate the stock market.

We might also consider ending all foreign wars that benefit Israel or some other nation but not the USA.

http://vidrebel.wordpress.com/

 

BACK to margotbworldnews.com

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Categories: Business/Markets
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