Staring Armageddon in the Face
Staring Armageddon in the Face
Former US Assistant Treasury Secretary Dr. Paul Craig Roberts served under the Reagan administration. He was often credited with co-founding Reaganomics. He has also worked as an editor and writer for both Business Week and The Wall Street Journal. So when someone with his resume sounds the alarm, it is a little harder for the mainstream media to dismiss him as a wacko spreading paranoia.
Dr. Roberts wrote “Staring Armageddon In The Face But Hiding It With Official Lies” on his official website, PaulCraigRoberts.org last week. He points out in the article that unemployment numbers are sugar coated by the reduction in work force participation. As job seekers become discouraged after long periods of unemployment, they quit looking and are no longer counted as unemployed in the official U3 unemployment numbers.
He continues to point out the manipulative reporting in inflation numbers as well. If our government were to use the same matrix to obtain the CPI as they used in 1990, the official inflation rate would be 9.2% rather than the 1.6% reported.
He concludes the article with an explanation of gold markets by central bankers. He writes;
“It is important to the Federal Reserve’s low interest rate policy to suppress the bullion price. If the prices of gold and silver continue to rise relative to the US dollar, the Fed cannot keep the prices of bonds high and interest rates low. If the dollar is widely perceived to be declining in value in relation to gold, the price of dollar-denominated assets will also decline, including bonds. If the dollar loses value, the Fed loses control over interest rates, and the US financial bubble pops, with hell to pay.”
To forestall Armageddon, the Fed and its dependent banks cap the price of gold.
The Fed’s fix is temporary, and as the Fed continues to create ever more dollars, the price of gold will eventually escape the Fed’s control as will interest rates and inflation.
The Fed has produced a perfect storm that could consume the US and perhaps the entire Western world.”
I hope you will take the time to read the full article. It is an eye opening piece written by someone familiar with the inner workings of the beast in Washington.
No one can say for sure when the collapse will come, but there is a great consensus that he are headed for a rough patch. Markets breath confidence just as you and I breath air. When that confidence begins to erode, markets will suffocate. Once they start to gasp for breath, it will be too late to prepare. Do what you can now to hedge yourself for the coming storm.
If you are new to prepping or are ready to get serious about it, read our 7 Step Survival Plan. You will better prepared for a power outage, financial collapse or anything in between.
Happy Prepping!
