(We just read Tun Dr.Mahathir comment on USD 4.0 Trillion Derivatives Trade Per Day. How the world did not care much. How our intellect and action gone kaput ? Why lower interest rates in US will rob the poor in other countries ? The crash day will come and be prepared,like the Flood in Nabi Nuh's time).
Submitted by Cris Sheridan on 30 Sep 2010 (Financial Sense)
"The borrower is a slave to the lender." Proverbs 22:7
Our entire nation is largely indebted to a single private corporation! Yes, that's right, the Federal Reserve—a privately held bank that is closing in on being the 2nd largest holder of US debt. At the rate its going, the Fed may actually be the largest holder in the space of a few months. This is not a good sign.
"The monopoly of a single bank is certainly an evil." —Thomas Jefferson to Albert Gallatin, 1802. ME 10:323
Many people are aware that America is the largest debtor nation in the world. What they don't understand is that this means the US must depend upon borrowing other people's money in exchange for a service. Sounds like prostitution doesn't it? You see, although the selling and servicing of debt is a common practice among many nations, the nature of this type of contract was rewritten on a global scale when America went from being the world’s greatest lender to the world's largest borrower. The consequences of such led, by necessity, to a bill of divorce under the presidency of Richard Nixon where foreign powers were cheated from their previously agreed to dowry. This severing of gold from the issuance of debt and currency now allows America to merely exchange debt for more and more debt. Unfortunately, what was once a contract of fair exchange is now a continual debasement. The world's most desired bride has now become a harlot.
There is a huge reason why foreign nations continue to slum it up at the Treasury auction every year and pay America for her services—they are drunk with our money! They cannot sober up because she has inflated and multiplied her favors all over the world. Madam America is fighting hard to keep her clientele happy, but her assets are becoming visibly stretched. The American taxpayer cannot afford to pay the bill. Therefore, she has no choice but to inflate or die!
Many are bewildered by the huge increase in gold's value over the past decade. To them, it is an anomaly; something that can't be explained in terms of modern finance. They are deceived; unable to see outside their unyielding faith in paper money because it is issued in God's name—"In God We Trust"—or because they believe that nations, and not just companies, are too big to fail. History proves otherwise...and God does not look favorably upon blasphemy.
I do not believe this system will end soon. Though America has been elevated to a precarious position atop an unwieldy beast, her services are still loved more than she is hated. Eventually, however, one will outstrip the other...turning what has been, so far, from a consensual agreement into a forced act. Until then, America will continue to become a slave to both the Federal Reserve and foreign nations—prostituting her wealth by selling her body to the highest bidder. The question is, will there be a final day of reckoning?
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