Hal Turner’s Amero sample

December 31, 2008

Hal Turner is a former New York talk radio show host. In this video, the outspoken, controversial Turner warns of the imminent collapse of the US dollar as currency, to be replaced by the Amero. To further substantiate his claims, Turner shows an amero coin, and  calls this “the biggest looting by the moneychangers in the history of the world”.

If this currency collapse comes about,  Canada and Mexico will also be affected, as the Amero would be the common currency of our NAU, similar to what transpired in Europe with the formation of the EU and the Euro.

While I do not agree with Hal Turner’s ideology and his bigotry, his  video and  blog posts about this topic deserve merit.

Watch video here: http://video.google.com/videoplay?docid=1954933468700958565&hl=es

Hal Turner’s blog: Hal Turner Show

Read Hal Turner’s blog post titled Confirmed: US government will collapse before summer* 2009; will repudiate national debt; issue new currency and devalue “old dollar” by 90%here.


Global Research: The Real State of the US Economy

August 5, 2008

This is a brutally honest, sobering piece on the US economy, which your government or the mainstream media definitely won’t tell you:

When Henry Paulson agreed to leave his job as chairman of the powerful Wall Street investment bank, Goldman Sachs to go to Washington as Treasury Secretary in 2006 he demanded extraordinary powers as de facto economic czar. He got it. Paulson is also head of the President’s Working Group on Financial Markets — the secretary of the treasury and the chairmen of the Federal Reserve Board, the Securities and Exchange Commission and the Commodity Futures Trading Commission. The Working Group is the financial world’s equivalent of the Pentagon war room. Paulson, not Fed chairman Bernanke, is the person running the Administration’s crisis management. And his recent actions indicate he has lost control as the snowballing problems from the semi-government mortgage companies Freddie Mac and Fannie Mae to the collapse of the multi-trillion dollar market in Asset Backed Securities (ABS) to the real economy are compounding into the worst crisis since the 1930’s Great Depression.

‘The US banking system is sound…’
[…]

Read rest of this article by William F. Engdahl on Global Research here.


How New York’s financial woes affect Canadians

March 19, 2008

Most Canadians think that the worsening financial crisis in the U.S. has little to do with us. Think again, especially if you live in Ontario and are hoping for some much-needed help from the Ontario Liberals in McGuinty’s budget next week.

“In practical terms, what happened this weekend [to U.S. investment bank Bear Stearns] has profound effects for Ontario”, writes Thomas Walkom in today’s Toronto Star. “In a real sense, Ontario is much more tied into the U.S. economy than any other part of Canada.”

Read: New York’s woes spell trouble here:

In Canada, the furor resulting from the near bankruptcy of the U.S. investment bank Bear Stearns has been dealt with as a business story, of interest to investors perhaps, but not to anyone else. Would that were so.

Most Canadians may have no personal experience with Bear Stearns or any of the other big U.S. financial institutions. But what happens to these New York firms ends up affecting us in very concrete ways. In particular, those hoping that, after years of cheese paring, governments will finally invest in things like rapid transit, housing or infrastructure may find themselves roundly disappointed.

[… continue reading this article here.]


Tomgram: Michael Klare, Barreling into Recession

February 4, 2008

The latest economic news is striking. The U.S. economy has come to a “virtual standstill.” The bubble has burst and, with anxious global markets registering the shock, other bubble economies worldwide continue to shudder at the possibility that American consumers might be forced to rein in their decade-long buying spree of imported goods.

Though any reader of newspaper business pages has surely noticed that oil news, oil deals, and oil prices have been front and center, the role of oil in our new economic moment has been underemphasized of late. It’s hard even to remember — now that the price of a barrel of crude oil has hit the $100 mark and still hovers around $91 — that, in the week after September 11, 2001, oil was still under $20 a barrel. Think of this as another modest accomplishment of the Bush administration, helped along by its rash war in Iraq, which actually took oil off the market. In a mere six years, we’ve gone from the era of cheap oil to the era of pricy petroleum or “tough oil”, with a new spike at the gas pump expected as early as this spring. The results are now there for all to see — in growing misery at home as well as stunning global financial and power shifts.

Michael Klare has long been ahead of the curve. In the late 1990s, he was already writing about “resource wars” in the coming century; as that century dawned, his next book, Blood and Oil, arrived; and now, just in time for a new global era, his latest book, Rising Powers, Shrinking Planet: The New Geopolitics of Energy, is ready to appear. You could say that he saw much of this coming and here he offers us an assessment of the missing role that energy played in the bursting of the American bubble. Tom

Something Had to Give

How Oil Burst the American Bubble

By Michael T. Klare

The economic bubble that lifted the stock market to dizzying heights was sustained as much by cheap oil as by cheap (often fraudulent) mortgages. Likewise, the collapse of the bubble was caused as much by costly (often imported) oil as by record defaults on those improvident mortgages. Oil, in fact, has played a critical, if little commented upon, role in America’s current economic enfeeblement — and it will continue to drain the economy of wealth and vigor for years to come.

The great economic mega-bubble arose in the late 1990s, when oil was cheap, times were good, and millions of middle-class families aspired to realize the “American dream” by buying a three (or more) bedroom house on a decent piece of property in a nice, safe suburb with good schools and various other amenities. The hitch: Few such affordable homes were available for sale — or being built — within easy commuting range of major metropolitan areas or near public transportation. In the Los Angeles metropolitan area, for example, the median sale price of existing homes rose from $290,000 in 2002 to $446,400 in 2004; similar increases were posted in other major cities and in their older, more desirable suburbs.

This left home buyers with two unappealing choices: Take out larger mortgages than they could readily afford, often borrowing from unscrupulous lenders who overlooked their overstretched finances (that is, their “subprime” qualifications); or buy cheaper homes far from their places of work, which ensured long commutes, while hoping that the price of gasoline remained relatively low. Many first-time home buyers wound up doing both — signing up for crushing mortgages on homes far from their places of work.

Click here to read more of this dispatch.


Housing Bubble Smack-down – The Smirking Chimp

August 29, 2007

Mike Whitney wrote this sobering and prophetic piece in November 2006 about the reasons for the US housing market bust:

Excerpt:

For some time now we’ve been hearing about the so-called housing bubble and what effect it could have on your net worth and future. Well, the numbers are finally in and you can decide for yourself whether its time to sell now or try to ride out the storm.

In 2000 the total value of homes in the US was $11.4 trillion. Today that number has shot up to $20.3 trillion; nearly double.

At the same time, mortgage-debt in 2000 was a trifling $4.8 trillion (about half) while in 2006 it skyrocketed to a whopping $9.3 trillion.

[…]

Read full article here (The Smirking Chimp).


Mike Whitney: The Fed’s role in the Bear Stearns Meltdown

July 5, 2007

This is another compelling, foreboding article by Mike Whitney over at The Smirking Chimp:

The Bank for International Settlements issued a warning this week that the Federal Reserve’s monetary policies have created an enormous equity bubble which could lead to another “Great Depression”. The UK Telegraph says that, “The BIS–the ultimate bank of central bankers–pointed to a confluence a worrying signs, citing mass issuance of new-fangled credit instruments, soaring levels of household debt, extreme appetite for risk shown by investors, and entrenched imbalances in the world currency system.
[…]

Read more here.