the global economic meltdown

8/14/2019 The Global Economic Meltdown

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Capitalism is that type of economy in which private individuals own the Means of Production, i.e., thefactories and the mines. The companies founded by these private individuals then compete openly withone another in the Marketplace. No one tells the owners what to produce, or how much to produce, or

how much to charge. Competition is the primary determinant of prices, and careful attention to the needsand wants of the people within this type of economy determines how much is produced. Capitalism mayhave its faults, but it has produced the highest standard of living in history for her citizens.

The key words underpinning Capitalism are: Free Market, Minimal Government Regulation, BusinessOwnership Solely By Private Interests

Fascism is the economic system of Nazi Germany, National Socialist Italy, and Imperial Japan. Today,only Japan retains this system. In Fascism, private individuals retain control over the Means ofProduction, thereby ensuring that the key element which makes Capitalism work so well is kept in place.However, the Government intervenes to control how much is produced of any item, how manycompetitors can be making the same item, and how much they can charge. Therefore, the potential forthe most profit lies within the Fascist economy! The experiment with Nazi Germany and Imperial Japan

proved that Fascism does work. We have seen that the proper coordination between Government andCapitalism does work.

The key words underpinning Fascism are: Severe Government Regulation, Government Control andPartial Ownership of Businesses

Armed with this definition, you are now able to understand the importance of the events of this day.Remember the key elements of Fascism as we examine these news articles: Government Control,Severe Regulation and Government Partial Ownership of Businesses.

The end result of this new global Fascist economy is the global economy foretold in Revelation 13:16-18!

http://cuttingedge.org/newsletters/newsalert.htm

World Bank chief Zoellick to supercedeG7 with new constricting global body -"Create a new world"! -- A newfinancial world order, by Aaron Dykes,JonesReport.com, October 9, 2008

"In the wake of global economic fears, World Bank chief Robert Zoellick hasproposed a new multilateral steering group 'suiting our times' to replace theG7, which he attacked as 'no longer effective'. Such a group would include notonly the rich nations, but also emerging powers like China, India and Braziland would be more flexible'."

Now, notice the dynamite revelation of this next segment!

'We will not create a new world simply by remaking the old. It should benumberless, flexible, and over time, it could evolve."


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passage of the infamous Patriot Act I, where Congressmen got their copy of the huge bill only hoursbefore they were expected to vote "Yea"!

Let us return to this featured article for the bottom line understanding.

"Once again, a global solution for a global problem. Demand will be reduced and allowances will betightly controlled under a sustainable existence were people and nations alike will be bound by globalinstitutions pretending to save the world."

Remember the oft-quoted remark by New Age author, Bill Cooper?

"The secret societies were planning as far back as 1917 to invent an artificial threat ... in order to bringhumanity together in a one-world government which they call the New World Order'." ["Behold A PaleHorse", p. 27]

As we revealed some months ago, five global "crises" have been created to force a global government!Read full details in NEWS2193, "Five Major Created Global Disasters Are Being Constantly Preached ToThe World As Reasons To Form The Global New World Order!"

Remember this fact: the Illuminati does not want a REAL collapse; they only want a perceived collapse sothey can ram their bold plans down the throats of a panicked people.

DVD

G-7 World leaders are streaking to

Washington, D.C., to "solve" thedisasters posed by this currenteconomic crisis.

NEWS BRIEF: "World finance chiefs heading for Washington for crunch talks", Brietbart News, October 9,2008

"Finance chiefs from the world's richest nations are set to meet in Washington for a crucial but uncertainmeeting at a time of unprecedented fear about the global financial system. The Group of Seven meetingwill bring together finance ministers and central bankers on Friday from the United States, Germany,

Japan, France, Britain, Italy and Canada for some collective-thinking on the credit crunch and crashingstocks."

You can rest assured that the "solution" toward which these G-7 ministers are supposedly working is asolution planned many years ago. And, it these talks "fail", it will be because the Illuminati wants toexponentially drive the pressure upward so that people will panic even more and will DEMAND that theGlobal Elite carry out whatever action they deem necessary to restore order, financial stability and wealthto the financial system.

Please take the time to read these news articles which reveal the government ownership, governmentcontrol, and government regulation which this financial crisis provides.


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"US Government to Start Buying Stakes In Banks by Month's End", CNBC News, October 9, 2008

"U.K. May Own 30 Percent of Big Banks in Bailout Plan ", Bloomberg Financial News, October 9, 2008

"EU calls for "greater bailout bid", People's Daily Online, October 9, 2008

"Paulson Says U.S. to Use All `Authorities' in Crisis ", Bloomberg Financial News, October 8, 2008

http://cuttingedge.org/newsletters/newsalert.htm

LaRouche: "A New Monetary System Is The OnlyOption for Humanity Now"

WASHINGTON, D.C., May 1 (LPAC)--In his opening statement at the LaRouche Pac May 1webcast in Washington, D.C., Lyndon LaRouche emphasized the urgent necessity of replacingthe hopelessly bankrupt world monetary-financial system.

"What must happen, if civilization is to be continued on this planet--it must happen very rapidly--is that the United States must enter into an agreement with Russia, China, India, and othercountries, to establish immediately, an emergency, new international monetary system, based inconception, on the precedent of Franklin Roosevelt's launching of the Bretton Woods system inthe period of 1944-45. That must happen, and can happen." LaRouche continued:

"Russia has already indicated, through President Putin, repeatedly--and through others--and Ihave some considerable investigation into this matter--an interest in working together with theUnited States, perhaps not with the jokers who are presently sitting in Washington, in the WhiteHouse and similar places, but to establish a new relationship with the United States, differentthan that which now exists at the top, in order to bring together the nations of Russia, China,India, and the United States, and other nations, into treaty agreements which will establishimmediately, a new emergency world monetary system, modeled in intention, on the agreementwhich Franklin Roosevelt orchestrated in 1944-45 for the post-war world.

"{That is the only option for humanity now. The time frame is immediate.} This is not somethingfor 2009. Or even 2008. It's for 2007, and it must happen {now}: Because the entire system ispresently, hopelessly bankrupt. It's being held together by pins and needles, and chewing

gum...." For the full webcast transcript, or archived audio, see www.larouchepac.com.

Berlusconi Says Leaders May Close World's Markets(Update1)By Steve SchererOct. 10 (Bloomberg) -- Italian Prime Minister Silvio Berlusconi said political leaders arediscussing the idea of closing the world's financial markets while they ``rewrite the rulesof international finance.''


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``The idea of suspending the markets for the time it takes to rewrite the rules isbeing discussed,'' Berlusconi said today after a Cabinet meeting in Naples, Italy. Asolution to the financial crisis ``can't just be for one country, or even just for Europe, butglobal.''http://www.bloomberg.com/apps/news?pid=20601087&sid=aP5mpMUORBWM

FXNEWS-Global bank holiday worth a thought-analyst| 10 Oct 2008 |

Oct 10 (Reuters) - Foreign Exchange Analytics' David Gilmore says markets should prepare for

another coordinated rate cut next week, and this time, he predicts Japan, with its 0.5 pct

benchmark rate, will participate. He adds that "while I would not (count) on a global bank

holiday next week, one would make sense to me," particularly with scheduled U.S. and Japanese

bank holidays on Monday . "Again this is a remote option, but not to be ruled out." The main

focus, he says, must be on "government efforts to restore solvency in the banking system, and

that process will be taking place in Washington not on Wall Street."

http://www.cnbc.com/id/27116337

** POTENTIAL ECONOMIC SEIZURE DEAD AHEAD **Ok folks, this is serious stuff.

http://market- ticker.denninger .net/

This is now a national emergency.Thursday, October 9. 2008

Posted by Karl Denninger

Seven trillion dollars of wealth has been vaporized in US Stocks in the last seven days alone,

with five of it since the passage of that ill-designed and foolhardy 'bailout' bill.

The sell off this afternoon is the 'real deal.' It was not caused by the stock market getting 'mad',it was caused by the short-term credit market along with the Treasury market suddenlydislocating at a few minutes before the bond pit closed at 2:00 PM.

Worse is also the fact that institutional lending has essentially disappeared - both betweenbanks and now it is choking off commercial short-term credit across the board.

It doesn't get any more serious than this. To repeat: short-term commercial credit is threateningto completely disappear from the American scene.


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Every action our government has taken thus far, including repealing mark-to-marketrequirements have made the situation worse by further destroying confidence.

In the overnight market the futures are imploding once again; the Osaka exchange was closedin Japan after hitting its 'lock limit' within minutes prior to the Nikkei opening; the Nikkei is nowdown ANOTHER 10%, for a total loss of nearly 20% in just two days, with Japanese bankstrading 'offer only' - that is, NO BID. There are rumors of government bond market fails in partsof Europe, and Iceland has essentially been cut off from the rest of the world Interbankmarketplace.

Japanese banks are now firewalling themselves from European and US claims; the interbankmarket is about to explode. Iceland has effectively defaulted on sovereign debt and today therewas a rumor that Hungary had a failed bond auction, effectively defaulting as well.

Key: Sovereign debt (that is, Treasuries from various nations) has become infected with trash -

unfortunately including ours now that Fannie and Freddie were nationalized and TARP hasbeen passed- and may fail in a cascade-style fashion across the world. If this occurs our abilityto fund our government will be cut off as well,leading to a need to reduce government spendingby $800 billion a year immediately. This means huge and immediate cuts to Social Security,Medicare and Military budgets - by as much as half.

Over a year ago I warned in my writings that this could happen if we did not take action. If wedid not force accountability through Congress and onto our financial system. If we did not forcethe thieves, liars and thugs on Wall Street to take their medicine.Instead of taking action we have sat on our collective backsides and allowed Congress to passbailout after bailout - now our stock market is down close to 40% from the top with 20% of thatloss coming in just over one week!

We are facing a global DEPRESSION and the cut-off of essential goods andservices in this nation if we do not stop this lunacy immediately.

Please understand - the TRUCKER who has a full load of food headed for your grocerREQUIRES commercial credit in order to fill his truck with diesel.

The local GAS STATION owner REQUIRES commercial credit to fill his underground storagetank.

The local CAR DEALER REQUIRES commercial credit to have cars - and parts - in his

dealership. No credit, no car - and no car repairs.The manufacturer over in China REQUIRES commercial credit (letters of credit from the buyer'sbank) to be able to ship those goods to America, where you can buy them. If the bank overthere won't take the LOC from the bank over here, suddenly you have no tires, DVDs and othersimilar products to buy.

IF THESE MARKETS DO NOTIMMEDIATELY UNFREEZE THE CONSEQUENCE WILL BETHAT FOOD AND FUEL, ALONGWITH ALL OTHER MANNER OF CONSUMER PRODUCTS,MAY NOT FLOW TO YOUR GROCERY STORE AND GAS STATION.

Think about that very carefully and then consider whether YOU can afford to sit on yourbackside for one more second, or whether you have an absolute NEED to get on the phone,


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fax, and whatever else RIGHT NOW to your elected and appointed representatives and, if youdo not get in response that they will IMMEDIATELY resolve this matter whether you will vow toband together with every one of your associates and friends, form a group consisting of

everyone in your local city or town, and call a GENERAL STRIKE, refusing to both work andpermit commerce to be conducted UNTIL THE LIARS ARE FORCED INTO THE OPEN, DEALTWITH, AND THE SYSTEM IS ABLE TO CLEAR.

We are quite literally out of time. This freeze in the markets WILL continue around the globeunless something is done NOW.

Every 'intervention' and 'promise' made by our government thus far - all of them - have beenLIES.

Our government has done NOTHING to alleviate the problem and in fact every one of their'solutions 'have made the situation worse - going back for more than a year.

We have 'pumped liquidity' and even bailed out firms with taxpayer money, and yet the marketshave not unfrozen.

They remain frozen because the root cause of the problem is that banks and other financialfirms have been lying for more than a year, each quarter claiming to have 'kitchen sinked theirlosses only to report more the next quarter, and in some cases have gone on national TV toproclaim they're 'well-capitalized' only days or weeks before they collapse!

The first question anyone asks when someone wishes to borrow money is whether or not theywill get paid back. If the lender does not believe they will be able to be paid back then that loanwill not be made, no matter how much money someone has available to them.

It really is that simple folks and yet this fundamental principle has been willfully and intentionallyignored for more than a year.

YOU MUST CHOOSE RIGHT NOW, TONIGHT, AS AN AMERICAN WHETHER YOU AREGOING TOGO TO WORK TOMORROW AND PRETEND THAT NOTHING IS WRONG, ORWHETHER YOU ARE GOING TO ENGAGE IN PEACEFUL BUT FORCEFUL PROTEST INDEMANDING THAT THIS CRISIS BE ADDRESSED NOT WITH 'MORE OF THE SAME' BUTBY ARRESTING EACH AND EVERY ONE OF THE CROOKS, BY FORCING BALANCESHEET TRANSPARENCY FOR EACH AND EVERY FIRM IN THE UNITED STATES, AND BYTHEN FOR CIBLYRECAPITALIZING VIA DEBT-TO-EQUITY 'CRAMDOWNS' EACH ANDEVERY INSOLVENT BANK AND OTHER FINANCIAL INSTITUTION, WITH TREASURY

STEPPING IN WITH TAXPAYER MONEY ONLY AFTER THE TRUTH (OR FALSEHOOD) OFSOLVENCY IS ESTABLISHED IN PUBLIC WHERE WE CAN ALL SEE IT.

THIS IS NO LONGER JUST ABOUT YOUR RETIREMENT SAVINGS AND HOUSE(althoughthat's important) IT NOW IS, QUITE LITERALLY, ABOUT THE ABILITY OFORDINARY COMMERCE TO CONTINUE AND ESSENTIAL GOODS AND SERVICES - FOODAND FUEL AMONG THEM - TO REACH OUR MARKETS.

YOU LITERALLY MUST CHOOSE NOW, AS THE TIME TO DAWDLE AND THINK ABOUT ITHAS EXPIRED.


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Whats Next? From Pastor Mike Slattery: Now that the other foot

has dropped or so you think, everyone is in a panic.. folks are calling us about buying

silver and Gold and they want to buy it for 50 cents over spot still (1 silver)! and they

want to pay spot for Gold. Well folks for now those days are over. The Bullion on the

COMEX listing is for a paper contract that almost no one will ever take possession of.

The real stuff on the other hand is in scarce supply. Silver is selling for way over its

spot price. KITCO is actually PAYING a Dollar thirty five over spot just so they can

have some for sale to others. In fact they do not even list them for sale or any other

silver other than hundred ounce silver bars (! exclamation point)

The President has no idea what he is talking about, Secretary Paulson is a shill and allyou folks who thought that they had money while in fact they were bleeding the value oftheir home on a reverse mortgage or some other home equity "loan" are going to wakeup one morning to NOTHING but the realization of the slavery that they have been in allthis time.

OK I am going to say this one more time...GET YOUR MONEY OUT OF BANKSGET YOUR MONEY OUT OF ANYTHING CONNECTED TO A SOCIALSECU RITYNUMBERSELL YOUR STOCKS..(! OH YOU DON'T THINK IT CAN GO ANY LOWER?)BUY GOLD AND SILVER AND FOOD AND AMMUNITION AND MAKE SURE YOURPROPERTY TAXES ARE PAID UP.

Pay your rent up a few months ahead if possible. Buy a generator, (diesel)Do not give one penny to a government agency that they do not force from you. THATINCLUDES any 501-c-3 organization.

Pay your property off if possible and if you live in an urban area start thinking aboutother possibilities...

What to watch for..... A Bank Holiday...Military troops in the streets of major citiesSome one to come up with the great Idea of trading all your dollar bills for 5's or tens fortwenty or something like that.... The Penny to die and possibly the elimination of theNickel so we can round everything UP...


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The bond market in my opinion is next.. mark it down the last foot has not dropped yet.The fat lady has not sungAnd the you will see pigs fly before this is all over

Total Financial and Economic Meltdown in Progress Now

From: [email protected]

Date: Thu, 9 Oct 2008 20:16:25 -0400

Subject: Total Financial and Economic Meltdown in Progress Now

Please forgive me, I don't normally send out two emails in a row but I just got this from Steven

Vincent at EndTheFed.US. I felt compelled to pass it along to you because of the dire state of

the US economy. If you haven't signed up to take action with us on November 22, please find

your group and plug in right away here:

http://www.restoretherepublic.net/user_group_browse.php?groupcat_id=55

-Gary

Message from Steven Vincent below:

=======================================================

The night before last I wrote the following with the intention of sending it out to the group. I

changed my mind and did not send it, fearing to be an alarmist.

'World markets are plunging in a panic as the banksters have severed access to credit making

investment and speculation impossible. The Dow futures market is showing a nearly 400 point

drop in response to a borderline crash in Asia and Europe tonight. It appears Morgan Stanley

will be the next big bank to go under. In all likelihood this week will see the biggest stock market

crash in history. Rumors abound that municipalities and States will default on their bonds this

week. California and Massachusetts look like good candidates. The cessation of many

government services and checks could follow. Iceland and Pakistan are on the verge of

bankruptcy. Wonderful, a nuclear armed Islamic state thrown into chaos.

My guess is that we could see disruptions in the supply of food within two weeks, with food riots

within a month.

If that is the scenario then we may see the suspension of the election and...well I can't bring

myself to say it.


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I do not write this casually and I do hope that I am mistaken. I ask God that I be completely

wrong. But is what the situation appears to be at the moment.

May God Bless us all and keep us safe.'

Today the Dow plunged 600 points (7%) in the final hour of trading. It should not have done so;

it was set up for a rally. That it has done so is a clear indication that a total market meltdown

and financial economic crash is upon us. The banksters, having enslaved formerly free markets

to the cheap, sleazy drug of easy credit have now cut the addict off from its supply. We are now

seeing the retching of withdrawal and the tremors of death of the global economy.

Today's Headlines

Stocks in U.S. Tumble as Dow Industrials Drop Below 9,000; GM, Exxon Slide

Mutual Fund Withdrawals Jump to Record $72 Billion as Investors Seek Haven

GM Shares Fall to Lowest Level Since 1950; S&P May Cut Automaker's Rating

Leveraged Loan Index Plummets to Record as Hedge Funds, Banks Sell Assets

U.S. Treasury Plans Bank-Stake Purchases Within Weeks to Shore Up Capital

Iceland Seizes Kaupthing as Banking Industry Collapses Under Debt Weight

VIX Options Index Climbs to Record Above 60 as Credit Market Stays Frozen

Bush Will Meet With G-7 Finance Chiefs to Tackle Credit Crisis, Aide Says

Libor Holds Central Banks Hostage as London Rate Freezes Worldwide Lending

Fear Trumps Greed as Market Worries Amplify News, Paralyze World Economy

Royal Bank of Scotland Loses Credibility After Goodwin's ABN Amro Purchase

Central Banks Fail to Alleviate `Logjam' in Money Market: Chart of the Day

As I predicted, a global summit is being announced at which the bankster dictators will tell us

their plans for remaking the world economy in their image. Anticipate a new global financial

regulatory body (perhaps even a new World Central Bank) and moves in the direction of a

World Currency. Please note that participation in such by the United States is predicated upon

RATIFICATION by the Congress. If the Banker Dictatorship bypasses this requirement, we can

take that as further evidence that the Constitution has in effect been suspended and that

dictatorship is a concrete reality in America now.


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State and Municipal government bankruptcies are likely within the next few weeks. My guess is

that is what the action in the stock market is discounting right now. If you are in Massachusetts

or California and rely upon state assistance, please prepare for disruptions.

Each of us must now decide what this means for us. You must make concrete preparations

now. We are in an emergency situation, albeit a concocted and engineered crisis. This is an

economic 911 and the measures following it are new versions of the Patriot Act and the Military

Commissions Act.

Let's spring into action and inform the population of what is transpiring. People need to know:

'America is Now a Dictatorship'

'Oppose the Banker Dictatorship'

'The Financial 911 is a Scam'

'No Emergency Powers for Wannabe Dictators'

'Restore Constitutional Government NOW'

'End the Fed! Gold is Money!'These slogan points should now appear on every freeway

overpass, stuck on every sign, on flyers and posters. Thousands and thousands

EVERYWHERE. Take it upon yourself to spring into action. Take the initiative and be creative.Build coalitions across the spectrum with others who will resist the Banker Dictatorship.

Here's a fast, cheap place to get large quantities of stickers: http://www.stickergiant.com/ Take

up a collection among your local groups and get stickering!!

Here's a great place to get t-shirts made...great prices, great service and fast (please tell them

Steven Vincent sent you): http://coastalprintworks.com/

Here's a great place to get banners made: http://www.alwayssign.com/

Once again, I pray to God that I am an utter fool and an alarmist. Please God, let me be

completely wrong. Or if not wrong, let this come to pass with a longer time frame so that

good people can be better prepared for the inevitable. Please watch over us!

Your Friend in Freedom,

Steven Vincent

End the Fed! Website:http://www.EndTheFed.US


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End the FED! Action Groups:

http://www.restoretherepublic.net/user_group_browse.php?groupcat_id=55

http://www.fourwinds10.com/siterun_data/government/banking_and_taxation_irs_and_insuranc

e/social_security/news.php?q=1223613452

Worst Week for Global Markets Since 1929

World stock markets plummeted Friday, ending a week that saw the biggest collapse in share

values since 1929. The looming threat of a world depression provided the backdrop for a

meeting of finance ministers from the G7 industrialized countries, who gathered in Washington

for emergency talks with US Treasury Secretary Henry Paulson and Federal Reserve Board

Chairman Ben Bernanke.

After a day of panic selling on markets from Asia to Europe and Latin America, and wild swings

on the US stock market, the G7 issued a statement that pledged to place the resources of their

respective countries at the disposal of the most powerful banks, but failed to outline any specific

coordinated actions to stem the slide to economic disaster.

Paulson issued a statement and held a press conference following the meeting to announce

that the US government would use the virtually unlimited authority granted it under the $700

billion Wall Street bailout passed one week before by the Democratic Congress to begin directlybuying stock in banks and financial firms, an expansion of the government transfer of taxpayer

funds to the most powerful sections of the financial aristocracy.

Major stock exchanges in Asia and Europe registered losses on Friday even greater than the

7.3 percent drop in Wall Streets Dow Jones Industrial Average on Thursday. Japans Nikkei

index fell 9.6 percent to its lowest level in five years. Since the start of the week, it has lost 24

percent of its value. Toyota shares dropped by 6.2 percent and a major Japanese insurance

firm filed for bankruptcy.

Hong Kongs Hang Seng Index plunged 7.2 percent. Australias S&P/ASX 200 index fell 8.3percent and the broader All Ordinaries was down 8.2 percent. The Shanghai Composite Index

declined 3.6 percent, leaving it 12.8 percent lower than it was a week earlier. The Indonesian

stock exchange, which closed earlier in the week because of panic selling, remained

suspended.

In Europe, the pan-European Dow Jones Stoxx 600 index fell 7.5 percent, which ranks among

the worst one-day performances on record for the index.


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Londons FTSE finished Friday down 8.9 percent. Since its last peak in June 2007, it has

declined 43 percent. Friday marked the British indexs fifth consecutive losing day, during which

it lost 20 percent of its value.

Frances CAC-40 index fell 6.8 percent and Germanys DAX 30 plunged 7 percent. Trading in

Italy, Russia and Austria was halted. The last of Icelands major banks collapsed and was taken

over by the government, and all stock trading remained suspended.

Markets across Latin American were lower. The Mexican central bank was forced to auction off

$6.4 billion in foreign reserves to prop up the peso.

The MSCI World Indexa measure of international share priceswas down 19 percent for the

week, its worst performance since records began in 1970.

An indication that the financial crisis is now plunging the world economy into a major recession

is the fact that, alongside bank stocks, shares in oil, metal and other basic resource firms fell

sharply.

What we are witnessing is mass selling on a global scale due to a combination of sheer panic

and fear, combined with complete uncertainty over the future of the worlds major economies,

said Martin Slaney, head of derivatives at GFT.

In the US, most stocks ended lower after the wildest intra-day swing in history. For the first time

in its 112-year existence, the Dow Jones Industrial Average gyrated in a range of more than1,000 points.

The Dow fell 696 points in the first 15 minutes, falling below the 8,000 mark. Later in the day it

was up by more than 320 points, but closed with a loss of 128 points, or 1.5 percent, ending at

8,451.

That marked the eighth straight losing session for the index, which gave up more than 1,870

points, or 18.2 percent, in the course of the week. The weekly loss outstripped the week that

ended July 22, 1933, in the depths of the Great Depression, which registered a 17 percent

dropat a time when there were six trading days in a week.

Since its record high a year ago, the Dow has lost 40.3 percent, wiping out $8.4 trillion in stock

values.

The Standard & Poors 500 Index sank by 10.7 points, falling below the 900 mark to 899. The

S&P 500 is down 42.5 percent from its 2007 peak. The Nasdaq Composite Index finished the

day with a slight gain of 4.4 points, but was down 15 percent for the week.


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Now, the crisis is rapidly engulfing the broader economy, heralding a wave of plant closures and

cutbacks in every branch of economic life.

The Wall Street Journalreported Friday that the consensus of economists it surveyed was that

the US gross domestic product would contract in the third and fourth quarters of this year, as

well as in the first quarter of 2009. This is the first time that survey forecasts for those periods

have turned negative, the newspaper wrote. If those predictions bear out, it would mark the

first time US GDP has contracted for three consecutive quarters in more than half a century.

President Bush made another White House appearance Friday morning in a futile attempt to

revive confidence in the financial markets. Aside from making clear that his administration had

decided to begin buying equity stakes in order to inject more capital into US banks, he had

nothing to add to his previous remarks on the crisis.

He declared that the federal government has a comprehensive strategy to resolve the crisis,

without explaining the abject failure of his previous strategythe $700 billion bailout

packageto stem the financial panic.

Bush has come to symbolize the disarray not only in the financial markets, but also at the

highest levels of government. Even as he spoke the Dow began falling, and was down more

than 300 points minutes after he finished speaking.

Summing up the prevailing attitude toward Bush and other political leaders, Howard Silverblatt,

senior index analyst at Standard & Poors, said, People are scared. Nobody believes what iscoming out of the mouths of politicians or chief executives.

There is mounting evidence that more costly measures to prop up the banks are under

consideration, including a government guarantee for hundreds of billions in bank debt and inter-

bank loans and government insurance for all bank deposits.

All of the proposals to deal with the worst economic crisis since the Great Depression, whether

from the Bush administration and the Democrats and Republicans in the US, or the

governments of Europe and Asia, have one thing in common: They all proceed from the need to

maintain and defend the interests of the financial aristocracy.

None of the measures address the social tsunami that is about to engulf the working class.

As for the multi-millionaires and billionaires who monopolize the economy and dominate the US

government, they will remain as ruthlessly preoccupied with their personal enrichment as ever.

As the New York Timesreported on Friday, a sticking point in the government plan to purchase

stock from the banks with taxpayer money is the existence of token provisions in the bailout bill

imposing certain limitations on the pay of top executives. The Timeswrote:It is not clear,


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administration officials said, that the largest American banks would agree to this, particularly

given the restrictions on executive pay.

The events of Friday, culminating two weeks of mounting financial crisis and a flurry of

measures by governments to prop up their banking systems at public expense, confront the

working people of the world with the prospect of rapidly rising unemployment, poverty and social

misery. They raise urgently the need for a coordinated international socialist strategy to defend

the interests of the worlds people against the financial elites who are responsible for the

unfolding catastrophe and are seeking to impose the burden of the crisis on the working class.

See Also:

Wall Street crashes amid mounting signs of global recession

[10 October 208]

Rate cuts, UK bank bailout fail to stem global financial panic

[9 October 2008]

US stocks plunge amid mounting signs of global recession

[8 October 2008]

Asian markets continue to fall

[8 October 2008]

Panic grips global financial markets

[7 October 2008]

European leaders fail to agree on a common strategy for the financial crisis

wsws.org/articles/2008/oct2008/glec-o11.shtml

http://www.fourwinds10.com/siterun_data/government/banking_and_taxation_irs_and_insurance/social_security/news.php?q=1223753074

" the troops are here..."FEMA sources confirm coming martial law /German USA parallels


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By Pastor Edward WatsonI am not in agreement with feminism, But when looking for truth we often miss itbecause we so quickly dismiss those we disagree with on a particular issue (or two) andreject all they have to say, no matter how much facts they present to support theirposition. There is an historic coup taking place right now in America hidden in plainsight.

I used to wonder about the Germans in WWII and what lead up to it. I thought howcould so many people be duped into following so blindly their leaders into acts ofaggression, and submit so willingly to oppression by their own government againstthem. For a people to do this they must believe their leader is a leader and not a publicservant, They must believe he is patriotic and working for their best interest, They mustbelieve that God has raised him to protect them and their way of life from outside

threatening forces, They must believe God is on their side. Their military must believe inprotecting their commander in chief instead of the rule of law. They must believe God iswith them.Gott Mit Uns translated from a German soldier's belt buckle is "God With Us"I talked to an Army Ranger last week and when we told him of American troops going tobe used against American civilians in times of unrest his response should scare allAmericans. He said "I'll do what I gotta do", to which I replied you took an oath to defendthe constitution and you do not have to obey illegal or immoral orders, he said "well I'lldo what I gotta do". Our troops are being trained now to not protect us but to oppress

us.

Pre WWII Hitler used the Bible and effective propaganda to make the German peoplebelieve he was a Christian. He trained clergy to use Romans 13 as a God ordainedordinance to obey their government, under him. He had pictures taken and published ofhimself coming out of a church and looking pious with a glowing cross above his head.He used the troops to fight the communist "terrorists" who set on fire their Reichstag,which was completely staged, preplanned, and carried out by his own government toconsolidate power under Hitler.http://www.shoaheducation.com/reichstag.htmlWhat is truly frightening is to see Christians following the exact same pattern under ourown Government. Bush's Grandfather Prescott Bush helped to finance the Nazi's andlaunder Nazi money well into WWII until their bank was shut down by the FBI for thatvery purpose. Christians today think they are being told the truth by NBC, ABC, CBS,MSNBC, CNN, FOX, just like those who were under the influence of the minister ofpropaganda Joseph Goebbels, the Americans today think themselves to be too good,too smart, too "Christian" to be duped like the Germans were. After all we know just likeGod hated the athiestic communists (who we helped into power and supported through


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the years) the Germans had as their enemies, God hates the muslim "terrorists" that weare fighting today.

Does anyone see any parallels yet? In Germany people were fractured into so manygroups that when their neighbors were taken away as "suspects siding with the enemy"the people applauded the government for ridding it of the unpatriotic traitors... until itwas time for them. Their sons were killed fighting for what is widely recognized as eviltoday, most knew nothing of death camps and for all they knew they were fightingagaint terrorism and for freedom. Why does the US Govt. have over 600 FEMAconcentration camps fully staffed but empty in the US? These camps can contain 16million Americans. We currently have over 2 million prisoners in our prisons today, isthere such a crime wave that we needed to multiply that capacity by 8?

Why did the president wage war on freedom in the name of fighting terrorism? Why do

so many Christians still believe this nonsense, and worse yet support it? We are giventwo phony choices McCain and Obama and told, ok, pick one. Are we to believe that theunbelieving McCain (Son of Cain) is the choice of "conservative" Americans? Yet whena neoconservative is given the choice between the lesser of two evils he will always pickevil, being conformed to this world, and being biblically illiterate. He thinks God islooking down from heaven and smiling on him because he/she is a nice guy/gal andloves their children and pet dog. God says to abhor, that is to utterly hate evil, not votefor a little of it, to cleave to that which is good.

When you stand before God what will you tell him when you vote for McCain? You knewhe didn't like Obama? If everyone who claims to know Christ did what he said we would

be blessed today. If all who claim to be Christ's voted for a man who has served Christmost of his life and understands the evil of the Fed and the unconstitutional govt. wehave become shackled to we might throw off the chains of tyranny and once againbecome free. Unfortunately I see this as little more than a pipe dream because mostwho claim Christ really want nothing to do with him outside of maybe an occasionalSunday and Holiday. Chuck Baldwin of the Constitution party is a godly man, who, if wewere as righteous as we pretend to be, would be the next president. This nation is inserious trouble, and I mean beyond economically, we are soon to experience the

judgement of God for our wickedness. God is not mocked, we have become a nation offools thumbing our nose at a holy and righteous God. Sodomite "marriage", quick andeasy no fault divorce, baby murder, religiosity, hedonism, self will, pride, these are all

abominations to God, his judgement is coming soon. If you don't know him or are a lazygood for nothing Christian, REPENT!, Jesus hates hates lukewarm. Put your hand tothe plow, help your fellow believers Gal. 6:2, Submit yourself therefore unto God resistthe Devil and he WILL flee from you.

RESIST

1. Literally, to stand against; to withstand; hence, to act in opposition, or to oppose. adam or mound resists a current of water passively, by standing unmoved and


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interrupting its progress. An army resists the progress of an enemy actively, byencountering and defeating it. We resist measures by argument or remonstrance.

Why doth he yet find fault? for who hath resisted his will? Rom 9.

2. To strive against; to endeavor to counteract, defeat or frustrate.

Naomi Wolf - Give Me Liberty " the troopsare here..."Date: Tuesday, October 7, 2008, 9:09 AMYOU TUBE VIDEO

http://www.youtube.com/watch?v=_XgkeTanCGI

FEMA sources confirm coming martial law

Wayne MadsenWMROctober 8, 2008

WMR has learned from knowledgeable Federal Emergency Management Agency (FEMA) sources thatthe Bush administration is putting the final touches on a plan that would see martial law declared in theUnited States with various scenarios anticipated as triggers. The triggers include a continuing economiccollapse with massive social unrest, bank closures resulting in violence against financial institutions, andanother fraudulent presidential election that would result in rioting in major cities and campuses aroundthe country.

In addition, Army Corps of Engineer sources report that the assignment of the 3rd Infantry Divisions 1stBrigade Combat Team (BCT) to the Northern Commands U.S. Army North is to augment FEMA andfederal law enforcement in the imposition of traffic controls, crowd control, curfews, enhanced border andport security, and neighborhood patrols in the event a national emergency being declared. The BCT wasassigned to duties in Iraq before being assigned to the Northern Command.

On April 3, 2008, WMR reported on a highly-classified document regarding the martial law scenario:WMR has learned from knowledgeable sources within the US financial community that an alarmingconfidential and limited distribution document is circulating among senior members of Congress and theirsenior staff members that is warning of a bleak future for the United States if it does not quickly get itsfinancial house in order. House Speaker Nancy Pelosi is among those who have reportedly read thedocument. The document is being called the "C & R" document because it reportedly states that if theUnited States defaults on loans and debt underwriting from China, Japan, and Russia, all of which arepropping up the United States government financially, and the United States unilaterally cancels thedebts, America can expect a war that will have disastrous results for the United States and the world."Conflict" is the "C word" in the document. The other scenario is that the federal government will be forcedto drastically raise taxes in order to pay off debts to foreign countries to the point that the Americanpeople will react with a popular revolution against the government. "Revolution" is the documents "Rword.


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God BlessIn Christ's Service

Pastor Edward WatsonBth, MRAChrsPsych


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and functional by 2010 - - but I suspect within the next year but more probably sooner.Progress is being made much faster than planners had anticipated. It stands to reasonthat many Americans and Canadians will vehemently oppose such a sovereignty-destroying move. Therefore it is imperative that the population be disarmed before theypull that off. Disarming the population cannot be done without the powers of martiallaw, so that will precede the disarmament.

I won't even hazard a guess as to who will be in charge of this. Bush could do itanytime up to midnight January 19, 2009. If he does it before the November elections,then he could suspend elections and remain President, possibly for up to two moreyears. Or, it could be done shortly after inauguration of President Obama or McCain.It's hard to tell which one "the men behind the curtain" have anointed. Rest assured

they have anointed one or the other, and the results of the sham "election" have beenpre-determined already. Too much is at stake at this critical juncture in history, andnothing will be left to chance. September 11, 2001, has taught us that, if it taughtus nothing else.

On the other hand, Hitler spent several years putting in place the legislation he needed,and establishing the mood among the people he needed, before openly assumingdictatorial powers. Why would George Bush - - or any other president - - spend eightyears laying the groundwork and then, when the final bricks are in place, turn all that

power over to a Barack Obama or John McCain? Why would he not just go ahead anddo it himself? Considering the logical answer to that question, it then seems more likelythat he WILL do it and suspend the elections. But who can know for certain?Somebody does, but it ain't us, folks.

We don't know much about Obama other than it is more likely than not he is a devoutMuslim. The evidence buttressing that belief is substantial. He'd be perfect for the jobsince Muslims aren't too fond of Christians and white people anyway.

DNC joins Obama to block Berg lawsuit challenging Obama's citizenship

http://www.newswithviews.com/Ryter/jon252.htm

On the other hand, considering that McCain was in Communist hands for some 5iveyears, it is entirely possible that he could be a "Manchurian Candidate" who has been


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programmed to assume his designated role the minute he's shown the Queen ofDiamonds (or is it Hearts?). As a Skull and Bonesman, George Bush has alreadypledged his life to the cause, so he is suspect as well. In any event, the plans have longbeen finalized. We'll know sooner than we want to know.

The Project for a New American Century (PNAC) laid out its plans shortly after beingfounded in early 1997, plans which included the events we saw unfold on September11, 2001. The crash of the stock market and the economy must occur, and that willlikely be the trigger for martial law. Then will come the disarmament, followed shortly bythe collapse of the American dollar. The merger of the three countries, into the NorthAmerican Union, and issue of the Amerowill happen simultaneously, and the takeoverwill then be complete. At that point, three of the four major areas of the world will have

been federated, or unionized.

None of the European nations favored the European Union, but they got it anyway.Most of them are still scratching their heads wondering just how it was done. TheAfrican Unionis complete. Once the North American Unionis formed, they'll movequickly to absorb Central and South America and the American Unionwill be a reality.I don't know how far along they are with the Pacific Union, but you can bet your lastuseless buck that all the groundwork is in place and the trap is ready to be sprung.Everything will move rather quickly once the United States population has been

disarmed and subdued. The constitutions for the unions all have already been written,and those who have seen them all say that human and individual "rights" are not rightsat all, but are really privileges granted by the state.

Additionally, the vast majority of Americans have been legally converted from U.S.Citizens to "U.S. Persons," that is, state-owned subjects of the United States within theNorth American Unionor, later on, the American Union. Very few of us havemanaged to avoid this transformation. Most have no clue when or how it was done. Itwas done through forms signed for the IRS or at a member bank of the Federal Reserve

(which is essentially all of them).

Years of preparation have gone into this, make no mistake about that. The moneyedvultures are determined to have world government under one central command, whichcould be geographically located most anywhere, including underground.


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The secret "Continuity of Government"project has taken some 20 years to build theelaborate, self-contained and completely powered underground facilities, with all thetechnology, accommodations and comforts necessary to house our government and thefamilies of those chosen. It isn't likely that Congress will have 535 members though, soit will probably be considerably smaller. The "Continuity of Government"programhas been planned and established in secrecy, so it is likely that many current andformer members have been left out of the "loop." The ruling body is apt be considerablyfewer than 535, perhaps 200, tops.

Much of the groundwork was laid back in the early 1990s when NAFTA and GATTweresigned, followed by CAFTA and the designation of the FTAA. It's all about maximizingprofits for mega-corporations, eradicating borders between and among nations, and

establishing centralized one-world rule.

Like gradually boiling a frog by ratcheting up the heat, we have been conditioned toaccept whatever is dished out. Half our population has been fattened to the point theywill be unable to physically resist much of anything. Once martial law is in effect, amassive propaganda campaign will be launched to promote the voluntary micro-chipping of people with radio frequency identification devices (RFID) and, once a goodportion has accepted them without resisting, then the rest of us will be forced to havethe implants. That will either be done by physical force or by denying us the ability to

buy or sell or conduct any business transaction whatsoever. People will have to eat, sothey will do whatever is necessary to obtain food and water to sustain their families.Those who refuse to be chipped will either be forcibly chipped or ushered away toconcentration camps.

Martial law is something with which most people are not familiar. Though we have allheard the term and have vague ideas of what it entails, few really understand it andmost mistakenly believe we don't have sufficient troops to enforce it. That's a gravemisconception. Most of our troops will remain deployed overseas, with only skeleton

command groups used in the U.S. Foreign troops, under U.S. command, will bedeployed here. Checkpoints will be established at already-determined geographicallocations. We will be free to travel most anywhere within the sectors in which we live,and will be unimpeded until we reach checkpoints positioned on the roadways at theperimeters of our sectors.

We may be able to travel up to 25 or 50 miles, perhaps even 100 miles, withoutencountering a checkpoint but, once we hit one, we will be turned back unless we have


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the global economic meltdown

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