by Elisheva Wiriaatmadja
Posted originally April 10, 2010
MANY PEOPLE IN AMERICA ARE STILL HOLDING ON TO “HOPE AND CHANGE” that the Obama administration would save them and the world from a devastating financial collapse. Gerald Celente has called out to the American people to stop believing in hope and change and immediately get into survival mode. As there is no recovery going on in the US (despite everything that the government is telling the people), many economic analysts predict that the American Empire is going to collapse very soon, and the collapse will be as severe as the Zimbabwean collapse. Another forecast say that America is turning into a third world nation, some even mentioned it will become as bad as the Indonesian economy under Soeharto.
There is so much that we can learn from people who understand the economy, are economic analysts and/ or are successful business people themselves, such as Robert Kiyosaki, Peter Schiff, Jim Rogers, Gerald Celente and others, I have listed the seven sins of the American government that have caused them to fall into a great collapse. Here they are
Deadliest Sin #1 – Giving Authority and Sovereignty of America into the hands of Banks and Money
Although you may believe all you want that Obama is a good man and a good President, unfortunately he is not the one who is running the country. Politicians and the government are not the ones ruling over America, it is the bank and money.
The only American President who fought for the sovereignty of America from the enslavement of banks and actually won is President Andrew Jackson (1829-1937), the (officially recognized) 7th president of the United States. When he ran the campaign for his second term in office, his slogan was, “Jackson and No Bank!”
This is a reference to his plan to take over the American money system so that banks would operate for the benefit of the American people and not for the profit of a few ultra rich men who were controlling the money supply and the banking system at the time.
When he was asked what his greatest achievement was, Andrew Jackson stated, “I killed the bank!” He was referring to his achievement to remove the government’s deposits from the Second Bank of the United States, a bank controlled by the few ultra rich, greedy men, and instead deposited them into banks directed by democratic bankers – banks who would only operate for the benefit of the people.
However, the ultra rich, controlling the money supply and the banking system in the United States, managed to set up their third “central bank” where they can control the banking and money system of the US in 1913, the Federal Reserve. This was under President Woodrow Wilson. After signing the Federal Reserve into its existence, he said,
“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men..”
Deadliest Sin #2 – Taking the US Dollar off the Gold Standard
In 1971, without consulting his state department or the international monetary system, the US President at the time, Richard Nixon, took the greenback off the gold standard. At the time, the US was importing more than it was exporting due to the costly Vietnam war. It was also the time when the economy was growing and they had to import more and more oil. The US started to have difficulties in paying bills in gold. Nixon decided to take the US dollar off the gold standard and made it illegal for people to directly exchange dollars for gold. By doing this, the US could print their way out of debt simply by printing money as much as they wanted and needed without being backed by gold. Because of this, today’s inflation started to take off.
Deadliest Sin #3 – Printing Money out of Nothing
As the US kept pumping money into the economy, inflation took off. Prices of everything went up. More and more people became millionaires because home prices won’t stop climbing. Gold price also started climbing up. However, many people think that gold is a bubble and it will burst any time soon. What the people don’t understand is that gold price is not increasing due to bubble or because it gained value but because the dollar has lost its value. Getting credit was easy and people received credit cards easily in their mails. Blinded by greed more and more people have too much debt and not enough cash.
The Federal Reserve is likely to continue printing money out of nothing, pumping trillions of dollars into the economy, causing hyperinflation and pushing prices of all goods and assets up. The value of the dollar continues to plummet and gold price will shoot up. Some forecasters say that gold will cost about US$2,000 by the end of 2010.
Deadliest Sin #4 – Punishing Workers and Investors, rewarding Borrowers
When Obama passed his health care bill, he imposed a payroll tax on investment income. People who make investments will be taxed for the passive income they earn. There is a strange habit in the United States that taxes people who work through huge income taxes and also people who invest and start businesses in favor of the poor. But people who borrow for consumption have it easy because this is what the bankers want and through debt is how the bankers make money and become even richer.
The result is the years of easy credit when people have credit cards in their mail easily, and subprime borrowers are mushrooming throughout the country. Poor people are getting mortgage loans they can not afford to buy the American dream, a propaganda to get the American people into debt and profiteering bankers.
Deadliest Sin #5 – Robbing People of their Wealth
The ultra rich that have the whole country in their palm also have their hands in the pockets of every American. The 4 ways they reach into people’s pocket and rob them off their wealth are through taxes, debt, inflation and retirement accounts. By robbing people like this, the poor stay poor, the middle class slowly disappear and the ultra rich, the few men controlling the money and banking system in the US, are getting richer. When there is a lack of the middle class in a country, when there is only the poor on one side and the ultra rich on the other, the country is categorized as a third world nation. This is what America is currently heading to.
Deadliest Sin #6 – Keeping People blind about Money
It is not a coincidence that children are not being taught about money and personal finance in school despite the fact that money plays a big role in everybody’s life, regardless of age, gender or social-economic status. It is to keep them financially dumb. The rich teach every average American to go to school, find a good job, save money, invest in stocks, get into debt to buy the American dream and prepare for retirement. It is not for the benefit of the people. It is for the profit of the rich.
While that is what they are teaching everybody else, they teach their own children a completely different set of rules about money so that they may become even richer. Keeping the masses blind about money is to make sure that they have a steady flow of employees every year who are constantly in need for money so the rich can generate their own income from other people’s work.
Deadliest Sin #7 – Applying Crony Capitalism
Crony capitalism is a description of a capitalist society that is based on the close relationship between businessmen and the government. Instead of success being determined by a free market and the rule of law, the success of a business is dependent on the favoritism that is shown to it by the ruling government in the form of tax breaks, government grants and other incentives.
The US economic system is so embedded in the crony capitalism now that even if you interfere with it, you will have a crisis. However, if you don’t interfere at all, you will still have a repeated and intensified crisis anyway as it happened to Indonesia under Soeharto. So either way, America is toast. If America does not do anything about this, it will become a mess as it was with Indonesia back then.