The world's largest economy has began to show weakness and drift as a result of a collapse of the housing market, the subprime mortgage turmoil, a severe credit crunch, high oil prices, and the deep devaluation of the dollar.
The broad international stock sell-offs on Monday and the prospect of a steep decline in the U.S. market raised fresh concerns that a looming recession in America could have global repercussions.
Already share prices in Japan, Europe, China, Hong Kong, Britain, France, and Canada already fell on average 5 percent, reminding us of the 1990 Asian financial crisis. The tumble in Wall Street resulted from the massive losses on loans made to U.S. homebuyers will cascade through the world financial system.
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America acquired an economic cancer when it made an unconstitutional deal with the (privately owned) so-called Federal Reserve banking cartel in 1913, henceforth monetizing U.S. debt, and established the illegal federal income tax to pay interest on that debt. (See "America: Freedom to Fascism" video, or visit www.webofdebt.com, etc.)
This monetary scheme forces the federal government to continually grow our debt, and thereby grow the cancer, in order to produce the economic expansion necessary to pay the interest on the debt.
Like a Ponzi scheme, our economy will collapse when we run out of investors willing to acquire our debt instruments ... which may only be months away.
This cancer has been the driving cause for depression, inflation, RECESSIONS, wars, entitlement programs, centralized government control of medicine, environment, transportation, health care, social security, etc., you name it, all of which can readily be recast once the cancer has been excised.
Until we sever this relationship with the banking cartel, and begin again to "coin Money, regulate the Value thereof, and of foreign Coin" THEY OWN US. Meanwhile Congressional actions remain one big compromise to feed this debt machine, while all other leadership roles inure to elements of the Executive branch, making a mockery of the Constitution.
Let us awaken voters to recognize this scourge on America so that we, as a people, can act to save our nation from collapse and regain control of our government.
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