Board-Ansicht
Mix-Ansicht- KLASSE! Why do our Elitist Policy Makers Hate Gold So Much? - RK, 05.10.2003, 23:36
- Wenn Mr. Greenspan Lippenstift aufträgt und mit dem Hintern wackelt...:-)) - RK, 06.10.2003, 00:10
Wenn Mr. Greenspan Lippenstift aufträgt und mit dem Hintern wackelt...:-))
-->National Debt Quagmire
Doug McIntosh
I remember a time when the entire United States Federal Debt was $500 billion. We are now in the age of $550 billion annual budget deficits. As of 9-30-03 the total Federal Debt was 6 Trillion, 782 Billion, 235 million dollars and change. In less than one year, it has gone from 6 Trillion, 228 Billion, 235 million and change. Isn't it interesting that the previous explosion of debt happened under the so called conservative Ronald Reagan? This current explosion is happening under the so called conservative George Bush Jr. Of course, Bubba Clinton merely faked the numbers so he doesn't really count. Dare I say that the Democrats lie much better on economic issues than the Republicans?
In one fiscal year of October 1, 2002 to October 1, 2003, George Bush has indebted the USA by a mind numbing figure of 554 Billion, 336 million dollars. Indeed, dear reader I am ancient enough to remember when the entire federal budget for one year was lower, much lower, than 550 billion dollars. Dating myself even more, I can remember when the entire federal budget was under $100 billion a year. True that was nearly 1000% inflation adjusted money, but the point is still valid. Mr. Magoo and his crowd have, since the Fed's inception in 1913, totally destroyed the purchasing power of the fiat dollar. What one penny bought in 1913 can now be purchased for one fiat dollar. There was a reason the founding father's despised Central Banks. For those of us who understand historical perspective, their reasoning is clear. Thomas Jefferson's quote about the sons of the revolutionaries finding themselves paupers at the mercy of bankers is now reality.
I see the price of gold is now around $400 an ounce and the Gold Dinar is about to make its debut. The fiat dollar is under savage attack around the globe as the flawed policies of our government take root and flower like stinkweed. You would never know it from watching the mainstream news, but the economic situation is really out of control. We are told this current fiscal year will give us a deficit of $475 Billion. What this means is that for the last twelve months and the next twelve, Mr. Magoo will go awhoring into the credit markets. <font color=#FF0000>Mr. Magoo can paint his lips, wiggle his butt and wink slyly all he wants.</font> Exactly who is going to buy all this federal paper? The collapse of Freddie and Fannie, the tweedle twins of the USA's mortgage market, has been little commented upon, despite the chaos in the bond market. The bond market upheaval of the summer has also gotten precious little mainstream coverage. One article I did see indicated foreign investors were dumping shares in above mentioned mutant government creations. By the way, our trade deficit is expected to reach $500 billion this fiscal year also. A $550 billion budget deficit, a $500 billion trade deficit and several hundred billion in Freddie and Fannie mortgages threatened. Pretty soon, like the late Senator Dirksen said and we're talking about real money. None of which has impacted the stock markets, even though the New York Stock Exchange is undergoing a purge of sorts. It seems Mr. Grasso, the chief executive who was paid $30 million last year, is now gone. Several of the board of directors have left also. It's almost enough to make you think that all the hysteria people like me have been writing about the stock market being manipulated are true. Nah, that would make me a conspiracy theorist. All reasonable people understand that there is no conspiracy to rig the stock, bond and precious metals markets. Even though I see the evidence with my own four eyes, the corporate controlled mass media tells me I am seeing delusions. The good little patriot that I am I see that I am mistaken. Day after day will march into the future without change. No matter how we break the fundamental rules of economics, we of the USA will never suffer the consequences of our stupidity. We can indebt ourselves endlessly, print fiat funny money endlessly and do whatever we wish. Can't we?
6 October 2003
<ul> ~ http://www.gold-eagle.com/gold_digest_03/mcintosh100603.html</ul>
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