Category Archives: HyperInflation

Federal Reserve’s Attack on Gold & Silver A Warning Sign All Patriots Should Heed

April 24, 2013

By Paul Craig Roberts

For Americans, financial and economic Armageddon might be close at hand. The evidence for this conclusion is the concerted effort by the Federal Reserve and its dependent financial institutions to scare people away from gold and silver by driving down their prices.

When gold prices hit $1,917.50 an ounce on August 23, 2011, a gain of more than $500 an ounce in less than eight months, capping a rise over a decade from $272 at the end of December 2000, the Federal Reserve panicked. With the United States dollar losing value so rapidly compared to the world standard for money, the Federal Reserve’s policy of printing $1T annually in order to support the impaired balance sheets of banks and to finance the federal deficit was placed in danger. Who could believe the dollar’s exchange rate in relation to other currencies when the dollar was collapsing in value in relation to gold and silver?

The Federal Reserve realized that its massive purchase of bonds in order to keep their prices high (and thus interest rates low) was threatened by the dollar’s rapid loss of value in terms of gold and silver. The Fed was concerned that large holders of U.S. dollars, such as the central banks of China and Japan and the OPEC sovereign investment funds, might join the flight of individual investors away from the dollar, thus ending in the fall of the dollar’s foreign exchange value and thus decline in U.S. bond and stock prices.

Intelligent people could see that the U.S. government could not afford the long and numerous wars that the neoconservatives were engineering or the loss of tax base and consumer income from off-shoring millions of U.S. middle-class jobs for the sake of executive bonuses and shareholder capital gains. They could see what was in the cards, and began exiting the dollar for gold and silver.

Central banks are slower to act. Saudi Arabia and the oil emirates are dependent on U.S. protection and do not want to anger their protector. Japan is a puppet state that is careful in its relationship with its master. China wanted to hold on to the American consumer market for as long as that market existed. It was individuals who began the exit from the U.S. dollar.

When gold topped $1,900, Washington put out the story that gold was a bubble. The presstitute media fell in line with Washington’s propaganda. “Gold looking a bit bubbly” declared CNN Money on August 23, 2011.

The Federal Reserve used its dependent “banks too big to fail” to short the precious metals markets. By selling naked shorts in the paper bullion market against the rising demand for physical possession, the Fed was able to drive the price of gold down to $1,750 and keep it more or less capped there until recently, when a concerted effort on April 2-3 drove gold down to $1,557 and silver, which had approached $50 per ounce in 2011, down to $27.

The Federal Reserve began its April Fool’s assault on gold by sending the word to brokerage houses, which quickly went out to clients, that hedge funds and other large investors were going to unload their gold positions and that clients should get out of the precious metal market prior to these sales. As this inside information was the government’s own strategy, individuals cannot be prosecuted for acting on it. By this operation, the Federal Reserve, a totally corrupt entity, was able to combine individual flight with institutional flight. Bullion prices took a big hit, and bullishness departed from the gold and silver markets. The flow of dollars into bullion, which threatened to become a torrent, was stopped.

For now it seems that the Fed has succeeded in creating wariness among Americans about the virtues of gold and silver, and thus it has extended the time that it can print money to keep the house of cards standing. This time could be short or it could last a couple of years.

For the Russians and Chinese, whose central banks have more dollars than they want, and for the 1.3B Indians in India, the low dollar price for gold that the Federal Reserve has engineered is an opportunity. They see the opportunity that the Fed has given them to purchase gold at $350-$400 an ounce less than two years ago as a gift.

The Fed’s attack on bullion is an act of desperation that, when widely recognized, will doom its policy.

The Fed is creating 1T new dollars per year, but the world is moving away from the use of the dollar for international payments and, thus, as reserve currency. The result is an increase in supply and a decrease in demand. This means a falling exchange value of the dollar, domestic inflation from rising import prices and a rising interest rate and collapsing bond, stock and real estate markets.

The Federal Reserve’s orchestration against bullion cannot ultimately succeed. It is designed to gain time for it to be able to continue financing the federal budget deficit by printing money and also to keep interest rates low and debt prices high in order to support the banks’ balance sheets.

When the Fed can no longer print due to dollar decline which printing would make worse, U.S. bank deposits and pensions could be grabbed in order to finance the federal budget deficit for a couple of more years. Anything to stave off the final catastrophe.

By its obvious and concerted attack on gold and silver, the U.S. government could not give any clearer warning that trouble is approaching. The values of the dollar and of financial assets denominated in dollars are in doubt.

How the Fed Tanked Gold & Silver

By Paul Craig Roberts

I was the first to point out that the Federal Reserve was rigging all markets, not merely bond prices and interest rates, and that the Fed is rigging the bullion market in order to protect the U.S. dollar’s exchange value, which is threatened by the Fed’s quantitative easing. With the Fed adding to the supply of dollars faster than the demand for dollars is increasing, the price or exchange value of the dollar is set up to fall.

A fall in the dollar’s exchange rate would push up import prices and, thereby, domestic inflation, and the Fed would lose control over interest rates. The bond market would collapse and with it the values of debt-related derivatives on the “banks too big to fail” balance sheets. The financial system would be in turmoil and panic would reign.

Rapidly rising bullion prices were an indication of loss of confidence in the dollar and were signaling a drop in the dollar’s exchange rate. The Fed used naked shorts in the paper gold market to offset the price effect of a rising demand for bullion possession. Short sales that drive down the price, trigger stop-loss orders that automatically lead to individual sales of bullion holdings once their loss limits are reached.

According to bullion trader and whistle-blower Andrew Maguire, on Friday, April 12, the Fed’s agents hit the market with 500 tons of naked shorts. Normally, a short is when an investor thinks the price of a stock or commodity is going to fall. He wants to sell the item in advance of the fall, pocket the money, and then buy the item back after it falls in price, thus making money on the short sale. If he doesn’t have the item, he borrows it from someone who does, putting up cash collateral equal to the current market price. Then he sells the item, waits for it to fall in price, buys it back at the lower price and returns it to the owner who returns his collateral. If enough shorts are sold, the result can significantly drive down the market price.

A naked short is when the short seller does not have or borrow the item that he shorts, but sells shorts regardless. In the paper gold market, the participants are betting on gold prices and are content with the monetary payment. Therefore, generally, as participants are not interested in taking delivery of the gold, naked shorts do not need to be covered with the physical metal. In other words, with naked shorts, no physical metal is actually sold.

Consider the 500 tons of paper gold sold on April 12. At the beginning gold price that day of about $1,550, that 500 tons comes to $24.8B. Who has that kind of money?

What happens when 500 tons of gold sales are dumped on the market at one time or on one day? It drives the price down. Investors who want to get out of large positions would spread sales out over time so as not to lower their sales proceeds. The sale took gold down by about $73 per ounce. That means the seller or sellers lost up to $73 dollars 16 million times, or $1.2B. [Over the next two days it dropped $200 per ounce. That equals a $3.2B fall.—Ed.]

Who can afford to lose that kind of money? Only a central bank that can print it.

Paul Craig Roberts is a former assistant undersecretary of the U.S. Treasury and former associate editor of The Wall Street Journal. He is the author of many books including The Tyranny of Good Intentions, Alienation and the Soviet Economy, How the Economy Was Lost and others.

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After Hegemony: America’s Global Exit Strategy

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14 Dec 2012
By Kenneth Weisbrode

What will America look like in a post-American world? The National Intelligence Council, with its just-released Global 2030 forecast, has become the latest voice to join the chorus of those who see U.S. hegemony giving way to a leading but less-dominant position. It is worth considering what the loss of hegemony is likely to mean for America in terms of its trade, influence, reach and voice in international forums. What impact will these and any other consequences have on the way America engages with the world, as well as on its ability to provide the kinds of leadership that make it a hegemon? And how will all this affect the ways Americans live?

Examinations of hegemonic decline have historically focused on the world beyond the imperial center. The barbarian invaders get most of the glory and attention, with the subjects of historical empires who lived in what is called the “metropole,” that is, the imperial center or “homeland,” as understudied as the nature of these places following a hegemonic collapse. In fact, the fate of some more-recent metropoles has been relatively positive over the long run. Austria, Turkey, Britain and even Russia continue to survive as viable countries. Some of them even thrive and may offer useful lessons. Austria, for example, is a small, prosperous, secure and mainly conservative imperial successor state. So is Japan. The question is how Americans will cope with such a changed condition.

A loss of hegemony generally means a loss of access to markets and resources. In the case of the U.S., that would include the loss of global reserve status for the dollar, with implications for trade, government borrowing and interest rates. It will cost Americans more to get what they want, and, at the same time, they will have less to spend. As a result, they will have to do much more to live within their means.

This will make it more difficult to influence or even inspire other societies to follow America’s lead, but it won’t be impossible. Elements of the American character — creativity, pragmatism, adaptability — may continue to serve the country and other nations well, if under different circumstances. Adjusting to those changed circumstances will require a more collaborative and empathetic approach to the way Americans interact with the world.

Speculating about the American future in these circumstances requires a more precise understanding of the effect that global hegemony has already had on the United States and the global system. From the country’s founding to the peak of the industrial era,  some Americans went out of their way to abjure the idea and the reality of hegemony, deliberately eschewing international engagement in the name of what was later called exceptionalism. In the 20th century others did the reverse, also in the name of exceptionalism. Now, in the 21st century,  Americans seem to be doing both at the same time, while coping with ever more serious challenges at home and abroad.

These challenges will likely be exacerbated by a loss of hegemony. At home, it is likely to be accompanied by a decline in prosperity, with potential implications for domestic civility. The proportion of Americans who now live in poverty, currently at 15 percent, will probably increase. National cohesiveness may deteriorate when Americans realize that the cultural, ideological and economic foundations of national “success” are actually much weaker than they imagined.

Abroad, it will further constrain the effectiveness of America’s military as a tool for advancing American interests. America’s relative decline has already nurtured the increasingly widespread perception that the use of American military power limits American influence over the long term. Whereas hard power underwrote soft power — and sometimes vice versa — during America’s hegemonic rise, during its fall the two appear to be at cross-purposes. This reversal is consistent with much of the history of imperial decline.

How will Americans respond to such a world, in which U.S. influence, already limited, is no longer advanced by its military dominance? And if it is true that, as Henry Kissinger said recently, America will remain powerful but not hegemonic, how do you preserve one while losing the other? Will Americans, and the rest of the world, be content with an Austrian or Japanese future for the U.S.? That is hard to imagine. But the alternatives, perpetual empire and national disintegration, are too awful to contemplate.

If today’s preoccupation with decline is any indication, some Americans are in search of something like a grand global exit strategy. It may be better to imagine instead a post-hegemonic condition that retains some of the fruits of American exceptionalism — namely the exportability of its culture and technology — while multiplying the incentives, both domestic and foreign, against the frequent use of military power and other heavy forms of coercion. Time may be running out to shape these two goals in unison.

It is difficult to say what this will mean in practice. Making the world safe for a hegemonic retreat has always been, to some extent, a fantasy: a pre-emptive concession that is too clever by half. Even America cannot dictate the world’s reaction, least of all that of its adversaries and challengers. There also is no fixed or predictable pattern of retreat. Sometimes imperial states, even hegemons, simply just disappear, leaving only the successor states behind.

Kenneth Weisbrode is a diplomatic historian at the European University Institute and author of “The Atlantic Century” (Da Capo).

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Texas Hold’em: To Hell With It, Let’s Jump Off the Fiscal Cliff

Obama must not know Texas Holdem.

by Derek Hunter

We’ve all heard about the “fiscal cliff.” But what does it mean? The media won’t bother to explain it in any detail, and people aren’t looking it up on their own. So, a great many Americans think it’s a physical place, a vacation destination of some sort. I understand people are busy with their lives, but a majority of Americans just voted to re-elect President Obama, a man whose failed leadership created this harmonic convergence of economic mess that is the fiscal cliff. So I say, “To hell with it; let’s jump.”

President Obama is still in campaign mode, traveling the country to sell his unserious proposal of $1.6 trillion in tax hikes, more insane spending and a laughably small amount of spending cuts. So much for a “balanced” plan. But the president couldn’t even be bothered to deliver his “plan” to Congress himself. He sent Treasury Secretary Timothy Geithner, an alleged financial wizard who claims he “misfiled” his taxes because he couldn’t properly use the near idiot-proof TurboTax.

Democrats are unwilling to take seriously the coming crush of entitlement spending. They took entitlement reform off the table before negotiations even began, and their megaphones in the media don’t put down their pompons long enough to report honestly about any of it.

The House of Representatives has passed an extension of the current tax rates, and the Democratic-controlled Senate has done exactly nothing with it. The Senate could vote to just extend the current rates they support and deal with it in a conference committee, but it won’t. It won’t do anything because the party that controls the Senate doesn’t want anything done.

What few leftists will tell you is they want tax rates to increase on everyone. That’s why the president campaigned on extending them for the middle class for only one year, not permanently. They know, just like hiking rates on top earners, that will harm the failing economy, but they don’t give a damn. They want more money.

Liberals have no interest in even inching toward a government that lives within its means because, unlike every other individual, company and entity in the world, government is the only entity that can simply vote itself more means. Max out your credit cards, then tell Visa you’re raising your own credit limit, and let me know how that works out for you.

Republicans should start now, raising a lot of money and running ads about how Democrats are unserious and responsible for taxes going up. Spend money to explain the situation to the American public. The media never will report it, and Republican leaders, such as John Boehner and Mitch McConnell, don’t have the bully pulpit or ability to communicate Ronald Reagan did. So paid media is the only option.

In the meantime, the people voted for Obama, so let them have Obama. Just make sure to pin every ounce of failure on his chest like a scarlet letter.

Yes, sequestration will cause serious cuts in defense spending, but the military can handle it. Liberals become aroused at the prospect of cutting defense, and liberal voters in Virginia and Maryland would be hardest hit as defense contractors lay off Obama voters in those blue states. I say good. Sometimes voters have to take their medicine, even if it’s a suppository.

It won’t be easy, but the military will adapt. That’s what the military does, and that’s why it is the best in the world. And half the automatic sequester cuts will come from domestic spending – bureaucracies also filled with Obama voters, who will be less able to deal with them. If they can’t adjust their spending to absorb the cuts, they’ll have to lay off people. Again, good.

If Republicans refuse to extend unemployment benefits, these newly unemployed Obama voters eventually will get to experience first-hand the lifestyle their vote empowered. Welfare state overlords on welfare. Can you think of a better education for bureaucrats than to be forced onto the very programs they administered, so they themselves experience the soul-sucking, aspiration-killing impact of what they’ve done to others? Karma is exactly what they say it is.

Or, if Republicans don’t have the “intestinal fortitude” for this (which leadership hasn’t displayed in years), the House should pass a middle-class tax cut but keep the top rates the same. And make them permanent. That would force Democrats to reject an actual middle-class tax cut, not the “keeping-rates-the-same” nonsense they’re now trying to sell to the American people as a tax cut.

We know Democrats aren’t interested in cutting taxes for the people they claim to fight for, so call their bluff. Nancy Pelosi, Harry Reid and Barack Obama like lying about middle-class tax cuts, so pass the bill and see how they react.

But none of this will work if Republicans don’t start a smart, aggressive, expensive and sustained ad campaign that circumvents the media. The key word is “smart,” and it’s also the catch. The Republican Party needs to treat itself like Keith Richards and embrace failure and go with all new blood. If the party doesn’t shed those who brought us the debacle of Nov. 6, no strategy will work. Just like voters who re-elected a failed, incompetent president expecting a different outcome, Republicans can’t retain the same failed team and expect to win.

Democrats have no interest in addressing our massive deficit and out-of-control spending; it’s up to Republicans. The question is this – do Republicans have the will? We’ll all have to have to take our medicine sooner or later. If we don’t take advantage of the opportunities now, that suppository will end up being like a cyanide pill.

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Obama’s Soviet Mistake

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19.11.2012
By Xavier Lerma

Putin in 2009 outlined his strategy for economic success. Alas, poor Obama did the opposite but nevertheless was re-elected. Bye, bye Miss American Pie. The Communists have won in America with Obama but failed miserably in Russia with Zyuganov who only received 17% of the vote. Vladimir Putin was re-elected as President keeping the NWO order out of Russia while America continues to repeat the Soviet mistake.

After Obama was elected in his first term as president the then Prime Minister of Russia, Vladimir Putin gave a speech at the World Economic Forum in Davos, Switzerland in January of 2009. Ignored by the West as usual, Putin gave insightful and helpful advice to help the world economy and saying the world should avoid the Soviet mistake.

Also read: Pravda.Ru exclusive interview with Jean Marie Le Pen

Recently, Obama has been re-elected for a 2nd term by an illiterate society and he is ready to continue his lies of less taxes while he raises them. He gives speeches of peace and love in the world while he promotes wars as he did in Egypt, Libya and Syria. He plans his next war is with Iran as he fires or demotes his generals who get in the way.

Putin said regarding the military,

“…instead of solving the problem, militarization pushes it to a deeper level. It draws away from the economy immense financial and material resources, which could have been used much more efficiently elsewhere.”

Well, any normal individual understands that as true but liberalism is a psychosis . O’bomber even keeps the war going along the Mexican border with projects like “fast and furious” and there is still no sign of ending it.  He is a Communist without question promoting the Communist Manifesto without calling it so. How shrewd he is in America. His cult of personality mesmerizes those who cannot go beyond their ignorance. They will continue to follow him like those fools who still praise Lenin and Stalin in Russia.  Obama’s fools and Stalin’s fools share the same drink of illusion.

Reading Putin’s speech without knowing the author, one would think it was written by Reagan or another conservative in America. The speech promotes smaller government and less taxes. It comes as no surprise to those who know Putin as a conservative. Vladimir Putin went on to say:

“…we are reducing taxes on production, investing money in the economy. We are optimizing state expenses.

The second possible mistake would be excessive interference into the economic life of the country and the absolute faith into the all-mightiness of the state.

There are no grounds to suggest that by putting the responsibility over to the state, one can achieve better results.

Unreasonable expansion of the budget deficit, accumulation of the national debt – are as destructive as an adventurous stock market game.

During the time of the Soviet Union the role of the state in economy was made absolute, which eventually lead to the total non-competitiveness of the economy. That lesson cost us very dearly. I am sure no one would want history to repeat itself.”

President Vladimir Putin could never have imagined anyone so ignorant or so willing to destroy their people like Obama much less seeing millions vote for someone like Obama. They read history in America don’t they? Alas, the schools in the U.S. were conquered by the Communists long ago and history was revised thus paving the way for their Communist presidents. Obama has bailed out those businesses that voted for him and increased the debt to over 16 trillion with an ever increasing unemployment rate especially among blacks and other minorities. All the while promoting his agenda.

“We must seek support in the moral values that have ensured the progress of our civilization. Honesty and hard work, responsibility and faith in our strength are bound to bring us success.”- Vladimir Putin

The red, white and blue still flies happily but only in Russia. Russia still has St George defeating the Dragon with the symbol of the cross on its’ flag. The ACLU and other atheist groups in America would never allow the US flag with such religious symbols. Lawsuits a plenty against religious freedom and expression in the land of the free. Christianity in the U.S. is under attack as it was during the early period of the Soviet Union when religious symbols were against the law.

Let’s give American voters the benefit of the doubt and say it was all voter fraud and not ignorance or stupidity in electing a man who does not even know what to do and refuses help from Russia when there was an oil spill in the Gulf of Mexico. Instead we’ll say it’s true that the Communists usage of electronic voting was just a plan to manipulate the vote. Soros and his ownership of the company that counts the US votes in Spain helped put their puppet in power in the White House. According to the Huffington Post, residents in all 50 states have filed petitions to secede from the Unites States. We’ll say that these Americans are hostages to the Communists in power. How long will their government reign tyranny upon them?

Russia lost its’ civil war with the Reds and millions suffered torture and death for almost 75 years under the tyranny of the United Soviet Socialist Republic. Russians survived with a new and stronger faith in God and ever growing Christian Church. The question is how long will the once “Land of the Free” remain the United Socialist States of America?  Their suffering has only begun. Bye bye Miss American Pie!  You know the song you hippies. Sing it! Don’t you remember? The 1971 hit song by American song writer Don McLean:

“And, as I watched him on the stage my hands were clenched in fists of rage.

No angel born in Hell could break that Satan’s spell

And, as the flames climbed high into the night to light the sacrificial rite, I saw…

Satan laughing with delight the day the music died

He was singing, bye bye Miss American Pie

Drove my Chevy to the levee, but the levee was dry

Them good ol’ boys were drinking whiskey and rye, singing…

This’ll be the day that I die

This’ll be the day that I die

So, the question remains:

How long will America suffer and to what depths?

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Fear, Everywhere, Fear

By Alan Caruba

If my emails and the headlines I am reading indicate anything, there is widespread fear among Americans that something terrible has occurred with the reelection of President Obama. Not all Americans, though. Those who voted for Obama appear to remain oblivious despite the threat of a “fiscal cliff” or the new taxes in Obamacare that will kick in on January 2nd.

We have a Secretary of the Treasury, Timothy, Geithner, calling for an end to debt ceilings, apparently believing that America can continue to borrow money to pay for the interest on its escalating debt, now pegged at $16 trillion and growing daily. The U.S. borrows $4 billion a day. Anyone with a credit card knows that their payments increase as they struggle to deal with their personal debt. Eventually they either declare bankruptcy or turn to companies that negotiate a payment to release them.

If America was to default on its debt, the dollar, already in free fall, would be worth nothing. We would be bartering shiny beads and anything else to buy food and other necessaries. We would become Zimbabwe where you need a million of their dollars to buy a loaf of bread.

Writing recently on her Fox Business blog, Gerri Willis spelled out the huge rise in taxes Americans are facing. “All told, next year, total taxes will go to almost 50% for the middle class; the very group that the president says he wants to protect. That means 50 cents out of every dollar earned has to go to the government. Half of everything will go to an entity that didn’t earn that money, and shouldn’t be entitled to all that dough.”

What kind of madness is it that the Teamsters union would impose such senseless rules that it would weaken Hostess to the point of bankruptcy, preferring to let the company die rather than to protect the jobs of 18,500 bakers? Other unions are engaged in attacks on a weakened economy. What kind of nation is it that its government employees are lobbying Congress to not only increase their pay, but to exempt them from the impact of the spending cuts scheduled to kick in?

There is a full-scale attack on the privacy Americans have taken for granted, protected by the fourth Amendment that says “The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated…”

On November 14th, the Heritage Foundation asked “Do you trust the government with your computer?” The government has had “13 breaches and failures of its own cybersecurity just in the last six months.” Even so, “the President and his allies in the Senate are pushing forward to regulate America’s cyber-doings, without any clues about how much this will cost or how it will work.”

“It has become the norm with this President—if Congress fails to accomplish his objectives, he goes around it with executive orders and federal regulations. He’s doing it again. Congress did not pass the Cybersecurity Act of 2012 before the election, so the President has issued a draft of an executive order to put much of that legislation in place without lawmakers voting.”

This is the very essence of tyranny and the President has had four years to perfect it. Are conservative think tanks the only ones paying any attention? It would appear so.

A new proposed law in the Senate would strip Americans of any privacy as they communicate with one another by email. A vote for the law would allow warrantless access to American’s email and is scheduled for a vote shortly. It would allow 22 federal agencies as well as state and local law enforcement to access one’s emails with nothing more than a subpoena. This is totally unconstitutional.

Already $16 trillion in debt, the government is looking for ways to take over the $3 trillion that is held in private retirement plans such as 401(k) plans and IRA’s. A recent hearing by the Treasury and Labor Departments addressed the nationalization of the nation’s pension system. The director of the National Senior’s Council, Robert Crone, warns “It is clear that this is the first step towards a government takeover. It feels just like the beginning of the debate over health care and we all know how that ended up.”

As we move closer to an Electoral College vote confirming Obama’s reelection, whistleblowers are coming forth in Ohio, Florida and elsewhere to reveal that significant voter fraud was a contributing factor, but it receives little or no media coverage. One must ask how 99% of votes in Philadelphia districts went to Obama and ask why nothing is being done to investigate this and other offenses such as the 141.1% of the vote recorded in Florida’s St. Lucie County. That is statistically impossible, but it robbed Rep. Allen West (R) of his seat in Congress.

This isn’t government. It is gangsterism. It is “the Chicago way.”

The monster Homeland Security Agency just graduated its first class of FEMA Corps, kids aged 18-24, recruited from the President’s Americorps volunteers, that will become a full time, paid standing army. Fears of FEMA camps abound and in the aftermath of Hurricane Sandy, people seeking shelter and food were herded into one that resembled a concentration camp of the Nazi regime and told not to use various means of communication to contact the media or outside community. They went from hurricane victims to prisoners of the government.

In so many ways, the freedoms protected by the U.S. Constitution are in danger of disappearing along with the separation of powers it requires.

Little wonder that citizen’s petitions from a growing number of states are called for secession. Or that governors are refusing to set up the Obamacare exchanges required by a law that has taken control of twenty percent of the nation’s economy; their budgets held hostage to Medicaid.

On an individual level, people who have jobs are fearful of losing them. College graduates are fearful of the huge debt they carry for the loans they received. People wonder if they can afford to get married. Married couples fear the cost of having another child. Homeowners fear not being able to pay their mortgages. Seniors fear that their savings won’t last as they live longer.

There is ample reason to fear not only the collapse of the nation’s economy, but the loss of liberty in America.

© Alan Caruba, 2012

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