Wednesday, September 9, 2009

"New World Order Emerges", Dollar Collapse, and Asking For More Debt, 9-08-09

As the dollar collapses and the world loses all confidence in the US fiat currency, instead of drastically cutting spending and setting an example of frugality while urging increased production to rebuild economic strength –our government and media is completely focused on continuing the insanity by raising the credit limit on our national credit card and ramming through a nationalized healthcare program that will only add to the debt that is destroying our economy and nation.

These headlines are taken straight from front pages of mainstream news sites:

A year after financial crisis, a new world order emerges

[Nice propaganda piece. The media handlers love throwing around the phrase "new world order" in news headlines and then marginalize people who research and understand the meaning of the term.]

UN wants new global currency to replace dollar

In a radical report, the UN Conference on Trade and Development (UNCTAD) has said the system of currencies and capital rules which binds the world economy is not working properly, and was largely responsible for the financial and economic crises.

…Although a number of countries, including China and Russia, have suggested replacing the dollar as the world’s reserve currency, the UNCTAD report is the first time a major multinational institution has posited such a suggestion.

Obama to seal US-UN relationship

“Barack Obama will cement the new co-operative relationship between the US and the United Nations this month when he becomes the first American president to chair its 15-member Security Council.”

Forbes: The Dollar Collapses

“The U.S. dollar reached its lowest point against the euro this year due to a myriad of forces including rising global stocks and commodities prices, low interest rates, and investors diversifying out of Treasury debt and into other assets including U.S. stocks with the Dow Jones industrial average approaching 9500 in late afternoon trading.”

View Dollar Index Chart

Senate must raise debt ceiling above $12T

Now Obama is asking Congress to raise the debt ceiling, something lawmakers are almost certain to do despite misgivings about the federal debt. The ceiling already has been hiked three times in the past two years, and the House took action earlier this year to raise the ceiling to $13 trillion.

Congress has little choice. Failing to raise the cap could lead the nation to default in mid-October, when the debt is expected to exceed its limit, Treasury Secretary Timothy Geithner has said. In August, Geithner asked Senate Majority Leader Harry Reid (D-Nev.) to increase the debt limit as soon as possible.

Momentum ushers gold above $1,000/oz

Fines proposed for going without health insurance

Americans would be fined up to $3,800 for failing to buy health insurance under a plan that circulated in Congress on Tuesday as divisions among Democrats undercut President Barack Obama’s effort to regain traction on his health care overhaul.

[Via http://nyletterpress.wordpress.com]

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