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THE ECONOMY & YOU # (Daily Updated Videos & Articles)

 
RoXY (OP)

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03/18/2013 09:44 PM
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The Big Short War
By William D. Cohan
April 2013

Hedge-fund titan Bill Ackman has vowed to bring down Herbalife, the 33-year-old nutritional-supplement company, which he views as a pyramid scheme. With his massive shorting of Herbalife stock, the price plummeted, prompting two fellow billionaires — Ackman’s former friend Dan Loeb and activist investor Carl Icahn — to take the opposing bet on Herbalife. As the public brawl rivets Wall Street, William D. Cohan learns why, this time, it’s personal.

Ackman has called Herbalife a “fraud,” “a pyramid scheme,” and a “modern-day version of a Ponzi scheme” that should be put out of business by federal regulators. He says he is certain Herbalife’s stock, which in mid-February traded around $40 per share, will go to zero, and he has bet more than a billion dollars of his own and his investors’ money on just that outcome. (Ackman declines to discuss the specifics of his trade.) “This is the highest conviction I’ve ever had about any investment I’ve ever made,” he announced on Bloomberg TV.

(snip)
An interviewer on CNN reminded him that Herbalife had been around since 1980 and had withstood many previous challenges to its business plan. How long was he willing to “sit on this bet”? Ackman replied, “We’re not sitting. We’re shouting from the rooftops. They’ve never had someone like me prepared to say the truth about the company. I’m going to the end of the earth. If the government comes out and determines this is a completely legal business, then I will lobby Congress for them to change the law. I had a moral obligation. If you knew that Bernie Madoff was running a Ponzi scheme, and you didn’t tell anyone about it, and it went on for 33 years ... ”

CONTINUE: [link to www.vanityfair.com]
RoXY (OP)

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03/18/2013 09:55 PM
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Re: THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Housing Bubble II: But This Time It’s Different
Monday, March 18, 2013

We have seen it for several years now: foreclosure sales — there were 5 million since the peak of the housing bubble — have become the hunting grounds for investors with two goals: hanging on to these homes until the Fed’s flood of money drives up their value; and defraying the expenses of ownership by renting them out. And funds have a third goal: collecting management fees. Thousands of smaller investors have piled into the game. And so have the giants.

Blackstone Group LP, the world’s largest private equity firm, plowed over $3.5 billion into the housing market, according to Bloomberg, to gobble up 20,000 vacant and foreclosed single-family homes. It just fattened up a credit line to $2.1 billion to do more of the same. Colony Capital LLC, which already owns 7,000, is putting $2.2 billion to work.

Last year, institutional investors made up 19% of all sales in Las Vegas, 21% in Charlotte, 23% in Phoenix, and 30% in Miami. It had an impact. In the latest Case-Shiller report — a three-month moving average for October, November, and December — home values soared 9.9% in Atlanta, a bigger jump than even during the peak of the housing bubble. Las Vegas popped 12.9%, and Phoenix 23%. It’s getting hotter. In February, compared to prior year, asking prices jumped 14% in Atlanta, 18% in Las Vegas, and 25% Phoenix. Seen from another point of view: in January, the median price of a single-family home in Phoenix skyrocketed 35%.

CONTINUE: [link to www.testosteronepit.com]
RoXY (OP)

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03/19/2013 04:51 AM
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How the Cyprus bailout plan will work

It is a slow day in a little Cyprus Village. The sun is beating down and the streets are deserted.

Times are tough, everybody is in debt, and everybody lives on credit. On this particular day, a rich German tourist is driving through the village, stops at the local hotel and lays a €100 note on the desk, telling the hotel owner he wants to inspect the rooms upstairs in order to pick one to spend the night.

The owner gives him some keys and, as soon as the visitor has walked upstairs, the hotelier grabs the €100 note and runs next door to pay his debt to the butcher.

The butcher takes the €100 note and runs down the street to repay his debt to the pig farmer.

The pig farmer takes the €100 note and heads off to pay his bill at the supplier of feed and fuel.

CONTINUE: [link to www.findingcyprus.com]
RoXY (OP)

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03/19/2013 02:26 PM
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Not sure if this will stay on YT very long, so watch it while you can!
The film won the 2010 Academy Award for Best Documentary Feature.


[link to www.youtube.com]
RoXY (OP)

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03/20/2013 02:28 PM
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“Solution” to the Economic Crisis? The Military Industrial Complex Stimulus Package
By Danny Schechter
March 20, 2013

Is there a panic on the Potomac? The Congress has turned into a wailing wall just to hear all the moans about threatened cuts in what is patriotically known as our Defense budget.

Never mind that many of the cuts were ordered from above because the people at the top know how much they have to slash given all the waste, planned obsolescence and other waste they can afford to trim before they cut the bone or some hostile force can bring us to our knees.

The people who experience the reality up close and personal know that the public is being defrauded on almost every level.

Listen to Sgt. 1st Class Robert Zlotow from Fort Riley, Kan. who had the guts to send this letter to Army Times.

“I nearly spit out my dinner when I read your headline “Fighting through austerity” (March 4).

Even with these “evil” and “scary” cuts factored in, the defense budget will still rise every year in the foreseeable future. According to the Congressional Budget Office, the projected defense budget will still go from $593 billion in fiscal year 2014 to $702 billion in 2023, even if this sequester is allowed to stand.

When I hear politicians and the top brass say that training will have to be cut back and units will go without supplies, and all these other dire consequences, it begs a very simple question:

CONTINUE: [link to www.globalresearch.ca]
RoXY (OP)

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03/20/2013 02:31 PM
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Uncertain Financial Markets: The Global Systemic Economic Crisis 2013 - The Huge Statistical Fog makes it necessary to change from instruments to visual navigation - Traps, benchmarks and templates
By Global Europe Anticipation Bulletin (GEAB)
March 20, 2013

In the Up & Down trends published in the GEAB January issue, our team wrote the following in the Down section “Economic indicators”:

Between short-term economic indicators which describe only what occurred in the week, others which are manipulated by governments to reflect the message they want to give, and finally others which no longer have any relevance in today’s world, economic reality is at the very least very badly portrayed, even disguised, by these figures followed however by businesses, banks, and even countries. As an example, only currency exchange rate variations make it no longer possible to say if it’s Brazil or the United Kingdom which is the sixth largest world power. This statistical fog prevents dependable navigation which is paramount in these times of crisis.

Whether it be the fruit of intentional manipulation by the players in their efforts to survive or the result of the extreme volatility of the bases for calculation (such as currency values and the US dollar in particular), this trend is, in fact, confirmed.

Reliable and relevant indicators on the world economic, political and social situation are, however, essential in order to get through the crisis without mishap. But those used by governments or businesses are, at best, useless in the current period of major world restructuring and, at worst, harmful. This is why in this GEAB issue our team has decided to detail which indicators reflect the true situation and those which are window-dressing. This work also makes it possible to highlight that it’s not always the indicators themselves which are skewed, but the way in which they are interpreted or the reasons studied which make them change.

CONTINUE: [link to www.globalresearch.ca]
RoXY (OP)

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03/25/2013 12:41 PM
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Financial Market Actors: The Fiction of “Regulation” of Global Banking
By Eric Toussaint
March 25, 2013

“Markets have become too huge, complex, and fast-moving to be subject to twentieth-century supervision and regulation. No wonder this globalized financial behemoth stretches beyond the full comprehension of even the most sophisticated market participants. Financial regulators are required to oversee a system far more complex than what existed when the regulations still governing financial markets were originally written. ” |1|

This remark by Alan Greenspan, chairman of the US Federal Reserve bank from 1987 to 2006, has been repeated by all the leaders of the highly industrialized countries. They have imagined that the banks and other financial corporations would discipline themselves whilst satisfying their own egotistical interests. Alan Greenspan adds: “Today, oversight of these transactions is essentially by means of individual-market-participant counter-party surveillance. Each lender, to protect its shareholders, keeps a tab on its customers’ investment positions. Regulators can still pretend to provide oversight, but their capabilities are much diminished and declining.” |2|

The supposed will of banks, and other financial market actors, to self-discipline themselves is a smokescreen allowing them to do whatever they like. Alan Greenspan, all the leaders of the industrialized countries, an army of experts and financial pundits are all unashamed liars who think they can treat the citizens like idiots, repeating ’ad nausea’ the old song of self-regulated markets. “Since markets have become too complex for effective human intervention, the most promising anti-crisis policies are those that maintain maximum market flexibility—freedom of action for key market participants such as hedge funds, private equity funds, and investment banks” |3|

CONTINUE: [link to www.globalresearch.ca]
Marxist

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03/25/2013 10:49 PM
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Financial Market Actors: The Fiction of “Regulation” of Global Banking
By Eric Toussaint
March 25, 2013

“Markets have become too huge, complex, and fast-moving to be subject to twentieth-century supervision and regulation. No wonder this globalized financial behemoth stretches beyond the full comprehension of even the most sophisticated market participants. Financial regulators are required to oversee a system far more complex than what existed when the regulations still governing financial markets were originally written. ” |1|

This remark by Alan Greenspan, chairman of the US Federal Reserve bank from 1987 to 2006, has been repeated by all the leaders of the highly industrialized countries. They have imagined that the banks and other financial corporations would discipline themselves whilst satisfying their own egotistical interests. Alan Greenspan adds: “Today, oversight of these transactions is essentially by means of individual-market-participant counter-party surveillance. Each lender, to protect its shareholders, keeps a tab on its customers’ investment positions. Regulators can still pretend to provide oversight, but their capabilities are much diminished and declining.” |2|

The supposed will of banks, and other financial market actors, to self-discipline themselves is a smokescreen allowing them to do whatever they like. Alan Greenspan, all the leaders of the industrialized countries, an army of experts and financial pundits are all unashamed liars who think they can treat the citizens like idiots, repeating ’ad nausea’ the old song of self-regulated markets. “Since markets have become too complex for effective human intervention, the most promising anti-crisis policies are those that maintain maximum market flexibility—freedom of action for key market participants such as hedge funds, private equity funds, and investment banks” |3|

CONTINUE: [link to www.globalresearch.ca]
 Quoting: RoXY


Financial services will eventually dominate a global capitalism and essentially peel away the state, becoming the industry from which future kleptocrats are drawn. If you look at the Cyprus crisis, you will observe that this sector marches on relentlessly driving changes in global culture with its effects on how we consume.
Workers of the World, Unite. You have nothing to lose but your chains!
RoXY (OP)

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03/29/2013 05:59 AM
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IMF Proposes $1.40 a Gallon Gas Tax on US Drivers
The national average for a gallon of gasoline is currently at $3.65. On top of that sky-high price, the International Monetary Fund has now proposed that the U.S. should impose a tax of $1.40 per gallon in order to pay for social programs around the world and help the environment.


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RoXY (OP)

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03/29/2013 06:07 AM
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E-Gov Link Enables Local Governments to Accept coin
Thursday, March 28, 2013
Activist Post

E-Gov Link announced today integration of B coin payments into its popular E-Gov suite of products. B coin, a global digital currency, is gaining in popularity, and provides citizens and municipalities a more cost effective solution for payments.

Local governments who offer online payments can now provide their citizens with another choice of payment method. Integration with a backed payment processor provides the municipality with US Dollars that they expect. And the transaction costs are a fraction of traditional credit card purchases.

CONTINUE: [link to www.activistpost.com]
RoXY (OP)

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03/30/2013 04:05 AM
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How the Banking System Really Works, And How It Is Destroying America - Reclaiming the Founding Fathers’ Vision of Prosperity
By Washington's Blog
March 27, 2013

To understand the core problem in America today, we have to look back to the very founding of our country.

The Founding Fathers fought for liberty and justice. But they also fought for a sound economy and freedom from the tyranny of big banks:


“[It was] the poverty caused by the bad influence of the English bankers on the Parliament which has caused in the colonies hatred of the English and the Revolutionary War.”
- Benjamin Franklin

“There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.”
- John Adams

“All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation.”
- John Adams

“If the American people ever allow the banks to control issuance of their currency, first by inflation and then by deflation, the banks and corporations that grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers occupied”.
— Thomas Jefferson

“I believe that banking institutions are more dangerous to our liberties than standing armies…The issuing power should be taken from the banks and restored to the Government, to whom it properly belongs.”
- Thomas Jefferson

“The Founding Fathers of this great land had no difficulty whatsoever understanding the agenda of bankers, and they frequently referred to them and their kind as, quote, ‘friends of paper money. They hated the Bank of England, in particular, and felt that even were we successful in winning our independence from England and King George, we could never truly be a nation of freemen, unless we had an honest money system. ”
-Peter Kershaw, author of the 1994 booklet “Economic Solutions”

CONTINUE: [link to www.globalresearch.ca]
RoXY (OP)

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03/30/2013 04:17 AM
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Spain’s Banking Crisis
by Ian R. Campbell
March 28, 2013

Recall that Bankia is the large Spanish bank that was partially nationalized’ in 2012, and that received 18 billion euros in new equity funds at the end of 2012. At that time Bankia shares fell by 25% to 41 euro cents (41/100 of one euro). At that same time Bankia said it expected to report a 19 billion euro loss for 2012. See my January 3 commentary titled Spain: Bankia and its parent! where I said “My assumption with respect to Bankia and other large Spanish banks is that ‘we have yet to hear the worst of it”.

On Monday, following a ‘forced revaluation’ by Regulators to 1 euro cent (1/100th of one euro) announced after the financial markets closed on March 22, Bankia shares closed at just under 15 euro cents (15/100 of one euro), down over 40% on the day. That ‘forced revaluation’ is said to have been a ‘condition’ of Bankia receiving a further capital injection of 10.7 billion euros from European rescue funds in circumstances where in February Bankia reported a 19.2 billion euro loss (as had been expected) for 2012. Standard & Poor’s is reported as having lowered Bankia’s rating by one notch to BB-.

In February Bankia reported that it expected a quick return to profitability following a ‘clean-up’ of its balance sheet.

Bankia strikes me as needing to be on every trader and investors radar screen going forward, given its size and what I think has to be its possible impact (positive or negative) on Spain, the eurozone, and perhaps the banks and banking systems of both Spain and other countries – the latter pursuant to possible contagion issues.

In other Spanish bank news, yesterday afternoon Banco CEISS, BMN and Caja 3, three comparatively small Spanish banks reported 2.5 billion euros, 3.7 billion euros, and 1.0 billion euros losses respectively for their latest fiscal years. These losses were all driven by previously unrecognized real estate exposure losses, or in the case of BMN writedowns on property holdings.

CONTINUE: [link to www.globalresearch.ca]

RoXY (OP)

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03/30/2013 04:20 AM
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Poverty in the USA: Nearly 50 Million Americans on Food Stamps - US food stamp use swells to a record 47.8 million
By Kate Randall
March 29, 2013

A record number of Americans are using food stamps, known today as the Supplemental Nutrition Assistance Program (SNAP). Despite official proclamations that the recession has ended and an economic recovery is underway, families are turning to SNAP benefits in record numbers. The working poor comprise a growing number of food stamp recipients, and about half of those receiving benefits are children.

Enrollment in the food stamp program has increased by 70 percent since 2008, to a record 47.8 million people as of December 2012, the Wall Street Journal reported Thursday. The biggest factor driving the increase is the stagnating job market and a rising poverty rate. This means that a staggering 15 percent of the US population receives food stamp benefits, nearly double the rate of 1975.

In 2008, at the onset of the recession, 28.2 million people were enrolled in SNAP. While the official jobless rate, which peaked at 10 percent in 2009, had dipped slightly to 7.7 percent as of February this year, the SNAP program has continued to grow. The Congressional Budget Office (CBO) predicts that food stamp usage will drop only marginally, to 43.3 million people, by 2017. Even this estimate is predicated on the unemployment rate dropping to 5.6 percent over the next four years.

The number of people using food stamps roughly corresponds to the number of Americans living in poverty, which rose to just below 50 million people in 2011. Utilizing the Supplementary Poverty Measure (SPM), which factors in expenses for food, clothing, shelter, health care and other essentials, the US Census Bureau estimates that nearly one in six people in the US is living in poverty.

CONTINUE: [link to www.globalresearch.ca]
RoXY (OP)

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04/02/2013 12:39 AM
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The Global Elite Are Very Clearly Telling Us That They Plan To Raid Our Bank Accounts

Michael Snyder
Wednesday, March 27, 2013
Activist Post

Don't be surprised when the global elite confiscate money from your bank account one day. They are already very clearly telling you that they are going to do it. Dutch Finance Minister Jeroen Dijsselbloem is the president of the Eurogroup - an organization of eurozone finance ministers that was instrumental in putting together the Cyprus "deal" - and he has said publicly that what has just happened in Cyprus will serve as a blueprint for future bank bailouts.

What that means is that when the chips are down, they are going to come after YOUR money. So why should anyone put a large amount of money in the bank at this point? Perhaps you can make one or two percent on your money if you shop around for a really good deal, but there is also a chance that 40 percent (or more) of your money will be confiscated if the bank fails. And considering the fact that there are vast numbers of banks all over the United States and Europe that are teetering on the verge of insolvency, why would anyone want to take such a risk?

What the global elite have done is that they have messed around with the fundamental trust that people have in the banking system. In order for any financial system to work, people must have faith in the safety and security of that financial system. People put their money in the bank because they think that it will be safe there. If you take away that feeling of safety, you jeopardize the entire system.

So exactly how did the big banks in Cyprus get into so much trouble?

CONTINUE: [link to www.activistpost.com]

RoXY (OP)

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04/09/2013 05:32 PM
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The Other Side of the Coin in Spain
By Inés Benítez
Apr 8 2013

Wholemeal rye bread, lettuce and chard are some of the products on offer from the El Caminito urban vegetable garden at the small organic produce market in this southern Spanish city, with prices set in “comunes”, one of more than 30 social currencies circulating in the country.

“The aim is to find an alternative to the curse of unbridled capitalism and to sow the foundations of a more just and compassionate society,” activist David Chapman of the Málaga Común platform, the network responsible for the market, told IPS.

In the network, more than 700 registered users exchange goods and services using “comunes” as currency and recording transactions on the internet.

In Spain, over 30 local currencies coexist with the euro, and they are “tools empowering communities by means of the exchange of products and services and the creation of parallel markets,” economist and writer Julio Gisbert told IPS.

The común, the lazo and the coín in Málaga, the puma in Seville, the zoquito in Jerez de la Frontera (Cádiz), the pita in Almería and the justa in Granada – all in the south of Spain – are some of the social currencies created with the shared mission of dynamising local economies and moving toward a more sustainable economic and production model all over the country.

CONTINUE: [link to www.ipsnews.net]
RoXY (OP)

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04/11/2013 08:00 PM
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Secret FDIC Plan to Loot Bank Accounts
By Stephen Lendman
April 09, 2013

It shouldn’t surprise. It’s already policy. Market analyst Graham Summers explained. Depositor theft is coming. Europe is banker occupied territory. So is America.

Finance is a new form of warfare. It’s more powerful than standing armies. Banking giants run things. Money power has final say.Ordinary people are impoverished. Even their bank accounts aren’t safe.

Cypriot officials agreed to tax them. Canada, New Zealand, and Euroland member states plan doing the same thing. So does America.

Officially they’re called “bail-ins.” It’s code language for grand theft. Instead of breaking up, nationalizing, or closing down failed banks, depositor funds will keep them operating.

Money printing madness can’t go on forever. Regulators, like FDIC, haven’t enough money to insure depositors. It’s simple mathematical logic.

Ordinary people and richer ones have trillions in bank accounts. It’s low-hanging fruit. It’s a treasure trove begging to be looted. Legislative shenanigans legitimize it.

It’s happening offshore. It’s approved in Canada. It’s coming to America. “What happened in Cyprus isn’t a ‘one-off,’ ” said Summers. When systemic crisis hits, things happen “FAST and FURIOUS.”

Cpyriot bailout talks continued for months. “And then the entire system came unhinged in one weekend.”

Banks closed. Capital controls were imposed. People couldn’t write checks. They lost access to their money. Limited amounts only were permitted. Insiders were tipped off. They exited early. Others uninformed now suffer.

CONTINUE: [link to www.globalresearch.ca]
RoXY (OP)

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04/19/2013 01:42 PM
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The Truth Rises - Coordinated Strikes Work Both Ways - May 1st 2013
Tired of being a debt slave? The time has come for a coordinated effort to strike at the heart of the beast and expose another Ponzi scheme brought to us by financial predators. Demand physical silver...


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RoXY (OP)

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04/19/2013 01:45 PM
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Economic Armageddon Is Imminent
Dave Hodges
Thursday, April 18, 2013
Activist Post

George Soros knows something dreadful is coming. The Rockefellers know something big and bad is about to happen. That something big is the imminent collapse of all fiat paper money currencies around the world. In their secret Bilderberg meetings, the globalists have positively planned the exact date of our financial demise. You can even bet the next “black whatever day” will coincide with an ironic date which will make the globalists chuckle at the planned inception of next false flag event.

You remember when the globalist minions crashed planes into the World Trade Center buildings on 9/11. The globalists planned a 911 event on 9/11. Get it? LOL!!! Three thousand dead means nothing to the globalists.

Nobody else but these psychopathic criminals will be laughing when they roll out their financial collapse plan. And, unfortunately, you and I do not have a seat at the table so we have no insider information to gauge when the financial collapse is coming. Just like 1929, most of us will have the lion’s share of our liquid assets (e.g. cash) in their criminal banks when the collapse occurs. However, there are some things that we can all watch out for.

CONTINUE: [link to www.activistpost.com]

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