Dollar Dead – World Reserve Bankrupt – Greenspan Admits It Was All a Scam & Fraud
State of the US Economy, Jun 3, 2009 – House Committee Budget
Federal Reserve Chair Ben Bernanke testified about the state of the U.S. economy and challenges to future growth in the economy. In his remarks he said the U.S. would see mild economic growth later in the year. He also told lawmakers the Federal Reserve would not accommodate higher budget deficits by simply printing money. Additionally, he said the labor market was expected to remain weak for some time and that inflation should stay under control.
On June 3, 2009 Fed Chairman Ben Bernanke said the Fed would not monetize our debt.
According to Bernanke we are now set for ‘very draconian cuts and very large tax increases’.
On November 3, 2010, the Fed announced the printing of $600-900 billion in new currency to directly purchase bonds/debt. The current world money supply of US dollars in circulation is $800 billion. The Fed just said it is going to double that. Printing money to buy debt is “monetizing the debt.”
Greenspan admits that it was all a scam and fraud……
Alan Greenspan: ‘There are two fundamental reforms that we need; that is to get adequate capital and two to get far high levels of enforcement of fraud statues. Existing ones I’m not even talking about new ones.
Things were being done which were certainly illegal and clearly criminal in certain cases. In which, I mean Fraud, Fraud is a Fact, Fraud Creates very considerable instability in competitive markets.
If you cannot trust your counter parties it won’t work and indeed we saw that it didn’t.’
After Obama Slammed by Unilateral Fed Move, China Launches Warning Missile Off Coast of Los Angeles (full)
After Obama and All of America Slammed by Unilateral Federal Reserve Move, China Returns Fire with Missile Launch off Los Angeles Coast
The reported Chinese missile test off Los Angeles came as a double blow to Obama. The day after the missile firing, China’s leading credit rating agency, Dagong Global Credit Rating, downgraded sovereign debt rating of the United States to A-plus from AA. The missile demonstration coupled with the downgrading of the United States financial grade represents a military and financial show of force by Beijing to Washington.
In 2008 the legislature made the decision to offer the largest ‘bailout’ for trouble assests in the history of the world.
On November 3rd the Federal reserve made the decision to buy the US Debt with the Debt based notes that it creates in it’s private vaults. The elected, accountable government was not involved in the decision.
China as the second largest holder of US debt (second only to the Private Federal Reserve Bank) is not happy with the Federal Reserves announcement that protects the Fraud that is a Fact of the US and Saxe-Coburg-Gotha international Financial System.
Written by sovereignthink
2010/11/16 at 10:58 pm
Posted in Dollar standard corruption
Tagged with america’s Credit Rating Dollar down grade, banker fraud, bernanke monetized, china california missile, china california missle, china down grade, china launches missile, china missile, china warning, chinese california missile, chinese missile, Dagong Global rating, dead dollar, dollar dead, dollar dies, fed QE, Fed stimulus, Fed stimulus Part 2, Federal Reserve gone wild, Federal Reserve independent taxation, Federal Reserve monetize debt, Federal Reserve monetized, Federal Reserve stimulus, Federal Reserve unilateral, National Inflation Association, no monetize debt, qe dollar, QE2, QE2 missile, quantitative easing, SDR, SDR currency, special drawing right, unilateral, unilateral Fed, US Credit Rating, us dollar debt, US dollar fraud, world reserve status
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