Day the Earth Stands Still banner

Good Morning!

Welcome to economic Armageddon!

[W]hen you analyze the economy and Wall Street, you can come to no other conclusion: Bush and his banking masters need those social security taxes and endless IOUs – in the stock market to prop it up. Wall Street desperately needs that social security “money” to take pressure off creating more worthless Federal Reserve notes to help slow down inflation. A disaster in the making.

For clues, watch the men with money:

A column appeared March 5, 2005, titled ‘Buffett deepens dollar worries’ by Dan Roberts. In it, Roberts writes: “Warren Buffett has warned that the US trade deficit risks creating a “sharecropper’s society” as his letter to shareholders sounded an increasingly bearish tone about the value of the dollar….. Mr. Buffett’s bet against the dollar also grew. Foreign exchange contracts – mostly short positions against the US dollar – nearly doubled over the year to $21.4bn, generating $1.8bn in gains as the greenback fell against other major currencies…..Mr Buffett stepped up his warning about the US trade deficit and the need to finance it with foreign investment, devoting more than two full pages of the annual report to the topic:

This force-feeding of American wealth to the rest of the world is now proceeding at the rate of $1.8bn daily, an increase of 20 per cent since I wrote you last year. Consequently, other countries and their citizens now own a net of about $3,000bn of the US.

In particular, he warned that this meant a sizable portion of what US citizens earned in future would have to be paid to foreign landlords.”

It’s not cheery reading, but we owe it to ourselves to be informed. Now I’m off to find more coffee.

Be the first to comment

Leave a Reply

Your email address will not be published.