WHAT IS A JOBLESS RECOVERY?

There is no such thing as a jobless recovery. It is the very definition of an oxymoron. The global financial system is more precarious than ever. In Europe, Greece, Spain, Portugal, Italy and Ireland will all default. They will have to be bailed out. Great Britain is in desperate shape and is heading for the same endgame.

Lest we think that the problems are specific to countries across the pond, then it is crucial to think again. Just as the individual states of the European Union are going bankrupt, so, too, are the states of the United States. California, New York, New Jersey and Illinois have gone over the cliff. In all, at least 40 of our individual states are hurtling towards the same outcome. All of the above will have to be bailed out. That means quantitative easing (the printing of money) will be the central banks' only option to infinity. Inflate or die is now the Western world's only choice. There is no way for our country to ever repay its debt.

Wall Street will concentrate its OTC derivatives i.e. credit default swaps wherever it sees weakness. By buying CDS insurance against the default of a country or a state and then shorting the debt of that teetering entity, the boys at Goldman Sachs will help to ensure the bankruptcy outcome and profit handsomely from it.
Wall Street will pick off each state one by one, first in Europe and then right here in the good old USA.

As they target the individual countries, they will destroy their paper currencies in the bargain. First the Euro, then the British Pound and finally the U.S. dollar. In essence, they will hasten the devaluation of these colored pieces of paper called currency. And when people finally wake up to what is happening, there will be social unrest. History tells us that angry people will always protest once they understand the scam that has been perpetrated upon them. That is why an entire division of the U.S. Army is training down in Texas to be ready for that eventuality.

The mainstream media is trying to keep the public in the dark. I think it is crucial to know the truth in order to prepare for the worst. Protect yourselves while you still can. Don't be unwitting victims. The financial crisis is not behind us. More likely, it is only in the third inning.

March 14, 2010