US Waves Goodbye To Prosperity And Democracy’ - September 8, 2008 ‘US Waves Goodbye To Prosperity And Democracy’ By: Sorcha Faal, and as reported to her Western Subscribers (Traducción al Español abajo) “Today we are seeing panic at the top while Joe Sixpack is behaving with t

Recruit Joined: Apr 15, 2007 Posts: 187

September 8, 2008

‘US Waves Goodbye To Prosperity And Democracy’

By: Sorcha Faal, and as reported to her Western Subscribers (Traducción al Español abajo)

“Today we are seeing panic at the top while Joe Sixpack is behaving with the sort of calm we should be seeing at the top.”, warns top Australian financial journalist David Hirst in his frightening report titled “US Waves Goodbye To Prosperity And Democracy” and whose word are worth repeating here:

“THE events of the weekend begin the greatest intervention in the US economy by the Federal Government since the Great Depression, with the Bear Stearns rescue but a splutter on this road we must now travel.

If you were wondering what all the flag-waving at the Republican convention has been about, it is now clear. Americans are waving goodbye to the prosperity the nation has enjoyed since the Great Depression and a final goodbye to democracy. But while preparation for the most important decision made in the nation's post-depression financial history towered above the conventions, I don't think the fate of Freddie and Fannie and the remaining government-sponsored enterprises (GSEs) was mentioned during either convention.

And the politicians. President Bush has long authorised the Treasury to open its purse strings and, naturally, Treasury Secretary Henry Paulson said he did not expect the line of endless taxpayer credit to be used. This is like signing an authority to go to war and saying we don't expect to go to war. Once the authority is given, it will happen. It was always laughable to expect otherwise. Paulson "briefed" John McCain and Barack Obama on the "plan". The fact is that while America, and the world, wait to see who will govern, Mr Paulson has decided to take matters out of the politicians' hands.

They willingly agreed. The ultimate political power, to spend taxpayers' money, has been tossed away. Obviously the economy is too important to be left to the politicians. Instead it is to be put into "conservatorship". It has come to this.”

To the staggering magnitude of this catastrophic financial event we can read as reported by Britain’s Telegraph News Service in their article titled “US Government Stages World's Biggest Bail Out”, and which says:

“The world's biggest financial bail-out was staged by the American government in a bid to ease the global credit crisis. The country's two biggest mortgage companies were nationalised amid fears that their bankruptcy would have triggered an economic collapse.”

To how this first-ever Nationalization of corporations by the United States Government will affect its citizens it is almost beyond describing in any other terms than the largest theft in human history as these unsuspecting peoples, and without having had any say in the matter whatsoever, are now saddled with the added catastrophic debt of over $5.3 Trillion, and which adds to the nearly $10 Trillion they already stand obligated to pay.

Even worse for these Americans, is that not only have they been saddled with this horrific financial burden, the losses they will suffer will total in the billions of dollars more as their 401K retirement programmes, and who are substantial holders of these mortgage giants debt, will be lost entirely as with the US Nationalization of Fannie Mae and Freddie Mac they will be totally ‘wiped out’ as the only debts to be paid will be to the foreign central banks, like China’s and Russia’s, holding substantial shares in these now bankrupt companies.

To those Americans we had been warning for past few years of these events now occurring (such as our June 28, 2007 report titled “US Banking Collapse ‘Imminent’ Warns French Banking Giant” we could not counter their all pervasive propaganda media outlets who even as late as August 28th were stating, “While analysts have said fears over Fannie and Freddie may be overblown—Lehman Brothers is projecting that Fannie may not need to raise more capital—the companies are still expected to post steep per-share losses through the year, and the stocks themselves are widely considered unstable.”

It goes without saying that the average American, Joe Sixpack, doesn’t even have the ability to understand this seismic shift that has just occurred to their once great Nation, but this cannot be said of the peoples of other Nations…such as those of Brazil and Argentina who in rapid response to these US actions signed an emergency pact to ban the US Dollar from being used in export payments made between these two South American Nations.

Russian economists are further stating that many more Nations will also rush to enact new laws to ban the use of US Dollars as almost all of the OPEC Oil Nations have already done and which will ultimately lead to the total economic collapse of the United States, and much sooner than the American people even realize.

Though staring these Americans right in their very eyes, this new financial catastrophe is but one more piece of the greater puzzle called Total World War, and which even to this very moment they still fail to comprehend, and in failing to do so prepare themselves more as victims than as survivors of the greater apocalypse to come.

© September 8, 2008 EU and US all rights reserved.
http://www.whatdoesitmean.com/index1136.htm