Bernanke’s ‘Fiscal Cliff’ FRAUD: Austerity Coming To America ! ! !

"In short, if the government confiscated the entire adjusted gross income of these American taxpayers, plus all of the corporate taxable income in the year before the recession, it wouldn’t be nearly enough to fund the over $8 trillion per year in the growth of U.S. liabilities. Some public officials and pundits claim we can dig our way out through tax increases on upper-income earners, or even all taxpayers. In reality, that would amount to bailing out the Pacific Ocean with a teaspoon. Only by addressing these unsustainable spending commitments can the nation’s debt and deficit problems be solved."

[link to www.jsmineset.com]

Jim Sinclair’s Commentary

My personal take is that the Mayan’s are totally correct What is unknown to the masses is that this was an economic calendar and the world that ends as a process from that day is the Western world’s economic viability in terms of currency depreciation. The calendar therefore predicted the election of a socialist president, the office of the Fed being in the hand of Bernanke and then in time, Yellen as Fed Chairperson. What is going to float into space is not the population of the planet, but rather the fiat currency produced by the inhabitants of the planet. I might be kidding, but maybe I am not. Let look back on this date in 2014 – 2015.

All three should jump first.

"The actual liabilities of the federal government—including Social Security, Medicare, and federal employees' future retirement benefits—already exceed $86.8 trillion, or 550% of GDP. For the year ending Dec. 31, 2011, the annual accrued expense of Medicare and Social Security was $7 trillion"



Chris Cox and Bill Archer, Former Congressmen - WSJ 11-26-12

Claims on welfare and disability programs are skyrocketing at the same time that the demographics of an aging populace are causing 10,000 people a day to enter Social Security and Medicare, the two costliest government programs. Meanwhile, the upper-middle class that pays most of the taxes has been slammed with lower income and a devastating drop in their housing-based net worth. Compounding this is the fact that the disillusioned wealthy have slowed dramatically their invested CAPEX (Capital Expenditures) in productive assets in the US.

[link to www.blacklistednews.com]

“The central planners recognize that the whole system is based upon keeping the collateral that’s supporting all of this debt elevated. Consequently, if gold and silver were to suddenly start to rocket up in price and truly reflect what’s going on, interest rates would follow briskly behind them and the whole bond market would literally collapse.”

“If that took place it would put enormous pressure on the banking system and we would see total chaos. So the powers that be are going to fight this tooth-and-nail, but unfortunately for them they are losing in the physical market. Gold sales from the US Mint have been exploding since Obama was reelected, and yet the paper price is actually down.

So what does that tell you?....

--John Embry

[link to kingworldnews.com]

Last Edited by No Dhimmi on 12/10/2012 03:09 PM

These guys (The Chinese) know perfectly well what’s going on and they invented paper money. The Chinese know this experiment in paper money has a finite life and so they are getting all of the gold they can get their hands on right now and they are going to back their currency with it. But in the end, I don’t know what the hell the Western interests are going to do because our vaults are being emptied.”

John Embry

In 1980, China had 50 tons of imports and production, which was mainly production and no imports.

By 2000 they had 175 tons (of domestic gold production). In 2012,they imported and produced 900 tons. Of that 900 tons, 500 tons was actually imported. It is just amazing what is happening in China.

So China is buying and many other governments are buying and nobody is selling gold. Also, worldwide vault capacity is being built very rapidly. So worldwide there is massive buying going on. So where is all of that gold coming from?

The gold is coming from (Western) central banks. Eric Sprott has talked about this in the last couple of months. So we’re seeing a shift from central banks, that clearly will not have the gold they say they have, into private ownership.”

[link to kingworldnews.com]

Last Edited by No Dhimmi on 12/10/2012 03:26 PM

Bread and circus for the sheeple

Obama-Biden campaign uses telemarketing to win 'fiscal cliff' fight


[link to washingtonexaminer.com]

Max Keiser & Matt Taibbi on Bankster Amnesia Over Financial Fraud

In the latest Keiser Report, Max discusses how Hollywood accounting has turned the global financial system into one in which money and wealth melt like so much congealed snow. Max states Scarlett Johansson’s thigh has destroyed the global economy. And so from Pontiac, Michigan to the Australian outback, zero percent interest rates and jobs that never materialize are the new normal. In the second half, Max Keiser talks to Matt Taibbi of Rolling Stone magazine about banksters who can’t recall a single thing about their crimes, including everything from Libor rigging to defrauding monoline insurers and Bank of America CEO, Brian Moynihan who can’t recall buying Countrywide
[link to www.silverdoctors.com]

Last Edited by No Dhimmi on 12/10/2012 03:38 PM

Obama's Fiscal Cliff and the Chicago Way


A friend from Chicago, involved in Illinois politics who has known Obama since his early days in the Illinois State Senate, told me that two things that trump everything else in Obama’s mind: redistributing the wealth and empowering labor unions. Look at everything the President does, my friend says, and you will find one or the other lurking in the background.

My friend’s analysis may explain a lot about the current state of affairs concerning the standoff over the so-called fiscal cliff and Obama’s refusal to abandon the idea that he must raise taxes on the rich. The President and his henchmen certainly understand that raising taxes on the richest 2% of taxpayers (in reality these people are not the richest but those with the highest incomes) makes little economic sense – doing so would reduce the deficit for 2012 from $1.10 trillion to $1.02 trillion or, in these numbers, really not at all. So something else is going on.



Read more here:
[link to www.breitbart.com]

In his Saturday radio address to the nation on December 8, Obama said that there is still some wiggle room on what Democrats are willing to give in negotiations over the “fiscal cliff.” But increasing taxes on the wealthy, he stressed, is “one principle I won't compromise on.” In Obama’s world, in other words, ideology trumps the good of the nation anytime.

Demand for gold coins in the US has soared since the presidential election, as small investors fret about the lack of action to address America’s ballooning debt.

“You’ve got a lot of people who are very worried about the economy. With the election they saw that nothing was going to change,” he said.

“They don’t believe in Uncle Sam any more,” said the head of precious metals at a large bank.

[link to www.ft.com]