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QE3? Several Top Federal Reserve Officials Seem To Think That More Quantitative Easing Is Necessary

QE3? Several Top Federal Reserve Officials Seem To Think That More Quantitative Easing Is Necessary

The end of QE2 is still several months away and yet quite a few top Federal Reserve officials are already hinting that more quantitative easing may be necessary. Apparently the U.S. economy is not moving forward as rapidly as they would like. So it looks like "QE3" could be on the way. But did anyone out there actually believe that quantitative easing would come to a complete stop in June? Whether they call it "QE3" or something else entirely, the reality of the matter is that we have now come to a time when the Federal Reserve is going to be continually purchasing a significant percentage of all new U.S. government debt. This is essentially a gigantic Ponzi scheme, but sadly there is just not enough money in the rest of the world to be able to continue to feed the U.S. government's voracious appetite for debt. Right now Ben Bernanke and his cohorts are trying to break the news to us gently, but anyone with half a brain can see what is happening. The only way for the game to keep going is for the Federal Reserve to print lots more money, and that is going to be incredibly bad for the U.S. economy in the long run.
The other day James Bullard, President of the Federal Reserve Bank of St. Louis, made national headlines when he declared that Fed officials should "never say never" when it comes to QE3 and more quantitative easing. But the truth is that other Fed officials have been dropping public hints about the "need" for QE3 for several weeks now. Just consider the following quotes from top Federal Reserve officials....
Federal Reserve Chairman Ben Bernanke in response to a question about the potential for QE3 at the National Press Club....

"In the end, we'll just ask the same questions. Where's the economy going, and what do various inflation indicator look like? We'll ask those questions. If unemployment is still too low, then we may continue. If we're moving towards full employment, then we won't need to stimulate more."

William Dudley, President of the Federal Reserve Bank of New York during a recent speech at New York University....

"The economy can be allowed to grow rapidly for quite some time before there is a real risk that shrinking slack will result in a rise in underlying inflation."

James Bullard, President of the Federal Reserve Bank of St Louis during a recent speech at the Bowling Green Area Chamber of Commerce....

"The natural debate now is whether to complete the program, or to taper off to a somewhat lower level of asset purchases. Quantitative easing has been an effective tool, even while the policy rate is near zero. The economic outlook has improved since the program was announced."


Charles Evans, President of the Federal Reserve Bank of Chicago during a recent interview with The Financial Times....

"The message that comes out of what I think of as high-quality research on this subject is that policy ought to remain accommodative for really quite a while, even a while after conditions start to improve."

So how in the world did things get to the point where the Federal Reserve feels forced to recklessly print gigantic piles of money?
Well, it didn't happen overnight. Back during the 1980s and 1990s there were many people that desperately tried to warn about what would happen if U.S. government debt was not brought under control.
Unfortunately, our politicians did not heed those warnings.
Today, the U.S. national debt has reached a grand total of $14,137,541,098,872.71. It is 14 times larger than it was just 30 years ago. It is the largest single debt in the history of the world.
So why don't our politicians just balance the budget now so that we don't keep having to borrow so much money?
Well, there are some huge problems. First of all, when you combine entitlement programs such as Social Security and Medicare with interest on the national debt, it comes to approximately 64 percent of all federal government spending.
But that is not the bad news.
In the years ahead, entitlement spending and interest on the national debt are both projected to absolutely explode.
We are rapidly approaching a time when spending on entitlement programs and interest on the national debt will be significantly greater than all of the revenue that the federal government brings in each year. All federal revenues will be spoken for even before a single penny is spent on defense, education, running the government or anything else.
Either entitlement programs are going to have to be seriously reformed or the U.S. government is going to have to come up with a massive amount of extra money from somewhere or the U.S. government is going to have to borrow increasingly large piles of money from someone.
Unfortunately, there are no easy solutions and most of our politicians are scared to death to touch entitlement programs because it will mean that they will lose votes.
But our entitlement programs were never meant to be as massive as they are today. Back in 1965, only one out of every 50 Americans was on Medicaid. Today, one out of every 6 American is on Medicaid.
Obviously something has to be done, because the debt that we are passing on to future generations is absolutely criminal.
For example, every single child born in America today inherits $45,000 in U.S. government debt.
Isn't that lovely?
Of course our liberal friends believe that the answer is just to raise taxes.
Oh really?
The truth is that our taxation system is deeply broken.
Small business owners and middle class Americans are being taxed into oblivion while those at the top of the food chain often pay no federal taxes whatsoever.
For example, did you know that Citigroup did not pay a dime of federal taxes in the third quarter? Meanwhile, their executives continue to bring in bonus packages worth millions.
Did you know that even though Boeing receives billions in federal subsidies every year and even though it has a bunch of juicy government contracts it did not pay a single penny in federal corporate income taxes from 2008 to 2010?
Did you know that while Exxon-Mobil did pay $15 billion in taxes in 2009, not a single penny went to the U.S. government? Meanwhile, their CEO brought in over 29 million dollars in total compensation that year.
You can find a lot more examples of this phenomenon right here.
Those at the top of the food chain are experts at avoiding federal taxes. So liberals can raise rates all they want but it won't do much good.
As I have written about previously, the truth is that approximately a third of all the wealth in the world is now held in "offshore" banks. The ultra-wealthy and the monolithic predator corporations that dominate the global economy don't mess around when it comes to paying taxes. They don't care if they aren't paying their "fair share". They simply know how to play the game and they laugh at all the rest of us.
Our entire system is broken beyond repair and needs to be reconstructed from the ground up.
But of course that simply is not going to happen.
So what can be done?
Not a whole heck of a lot.
The truth is that the U.S. economy is on the verge of a major collapse.
Marc Faber, the author of the Gloom, Boom and Doom report recently gave a speech in which he declared that the U.S. financial system is in such disastrous shape that only a "reboot" will be able to save it....

I think we are all doomed. I think what will happen is that we are in the midst of a kind of a crack-up boom that is not sustainable, that eventually the economy will deteriorate, that there will be more money-printing, and then you have inflation, and a poor economy, an extreme form of stagflation, and, eventually, in that situation, countries go to war, and, as a whole, derivatives, the market, and everything will collapse, and like a computer when it crashes, you will have to reboot it.

But can we just "reboot" the system and expect things to go back to normal?
Of course not.
The truth is that when the rest of the world completely loses faith in the U.S. dollar and in U.S. Treasuries the dominoes are going to start to fall. Eventually we are going to see a financial panic that is going to make 2008 look like a Sunday picnic. Our economic system will massively implode as all of the gigantic mountains of debt and paper money collapse like a house of cards.
Right now the Federal Reserve is desperately trying to hold the system together by "papering over" all of the mistakes. But in the end it is not going to work. In fact, what we are witnessing now are the very early stages of hyperinflation. A lot of other nations in the past have thought that they could just print their way out of trouble, but many of those "experiments" ended in total disaster.
Marc Faber is certainly right about one thing - all of this money printing is going to give us substantial inflation to go along with the high unemployment that we already have. This is called "stagflation" and anyone that remembers the 1970s knows that it is not a lot of fun.
But the Federal Reserve seems absolutely determined to print more money. Fed officials are doing the same thing now that they did right before QE2. They are dropping hints about QE3 and they are trying to break it to us gently.
Well, it is about time that someone told the American people the truth. All of this money printing is going to end in disaster and so you had better get prepared.


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UK firms blamed for food price hike

Obama misinforming the US Public about the Dollar and the Yuan

 

Obama Misinforming Public About U.S. Dollar and Yuan

President Obama's comments on Wednesday in a joint press conference with Chinese President Hu Jintao, misinformed the public about potential changes in foreign exchange rates and their effects on U.S. citizens. Obama on Wednesday said that he would like to see the Chinese yuan appreciate faster in value. While Hu indicated that China is committed to allowing the free market to better dictate the value of the yuan, Obama said China is implementing their steps to allow the yuan to appreciate "not as fast as we'd like."

For years, the U.S. has been criticizing China by calling them "currency manipulators". The fact is, the Federal Reserve is the real currency manipulator because their actions will soon lead to a U.S. Hyperinflationary Great Depression that destroys the lives of all Americans who aren't prepared for life with a worthless U.S. dollar. All China is doing is pegging the yuan to the U.S. dollar so that their product manufacturers and exporters can maintain some level of stability. However, the U.S. is using this as an excuse to explain its rapidly deteriorating export market.

Obama was correct when he explained to the world how China would benefit by having a stronger yuan. Obama understands perfectly how a stronger yuan would bring down prices for Chinese citizens and allow them to enjoy a much higher standard of living. In fact, NIA believes China could solve their current inflation crisis simply by allowing the yuan to appreciate alone.

China has seen the prices of many food items soar by 25% or more in recent months, which is horrific for a country where many of its citizens spend half of their income on food. While most mainstream economists on CNBC, Bloomberg, and FOX Business are quick to blame China's food inflation crisis on the weather, NIA believes the weather has very little to do with it. It seems like the weather is always the excuse every time food prices rise. Mainstream economists would have you believe that the world has been experiencing never-ending droughts and floods that continue to worsen each year.

NIA members know better than that. After all, we have the most educated membership base in the world. The truth is, China's food inflation crisis is coming as a direct result of the Federal Reserve's destructive quantitative easing and money printing policies, and China's willingness to keep the U.S. dollar artificially propped up out of fear that Americans will no longer be able to afford their exports. China is importing all of its food inflation from the U.S. and if President Obama gets his way, China will throw its food inflation right back into the faces of all U.S. citizens.

Imagine a food fight in school between American and Chinese kids with the American kids throwing their free National School Lunch Program (NSLP) meals (paid for by Chinese purchases of U.S. treasuries) at the Chinese kids while the Chinese kids sit there ignoring it trying to enjoy their own meals that they spent half of their income to buy. All the while, the American kids are antagonizing the Chinese kids, calling them currency manipulators and blaming their need for free NSLP lunches on China's currency peg (when the peg is actually preventing the American kids from starving). Sooner or later, not only will the Chinese kids throw the NSLP lunch remains back at the Americans, but they might become so disgusted (because they paid for the food being thrown at them) that they actually regurgitate their meals that they worked half of the day to be able to consume, into the American kids' faces.

If the Federal Reserve continues down the path it is currently on, not only will China allow the yuan to rise to a free market determined level, which will send China's food inflation crisis back to the U.S., but China is likely to dump their U.S. treasury holdings that they are currently hoarding. China's foreign exchange reserves rose by $199 billion last quarter (its largest quarterly gain in 15 years and 78% higher than analyst estimates of $112 billion) to a record $2.85 trillion for total growth in 2010 of 18.7%. Most likely, about 2/3 of these reserves are in U.S. dollars. Americans have been deceived by the U.S. government and the mainstream media into believing the U.S. economy is recovering, because the U.S. has been enjoying the benefits of inflation without the consequences of rising prices. When the U.S. bond bubble begins to burst and these trillions of dollars being hoarded come home to roost, inflation will become the primary concern of all Americans.

NIA finds it completely outrageous how Obama can be so honest with Chinese citizens about their benefits of having a stronger yuan, but then seconds later outright lies to the American public by saying that Americans would gain by having a stronger yuan as well. A stronger yuan by definition would mean a weaker U.S. dollar. It is insane for Obama to proclaim that having a stronger currency is good for China but bad for America. The rules of economics are the same in both countries.

As the Chinese see their purchasing power increase by having a stronger yuan, Americans will see their purchasing power decrease by having a weaker dollar. These simple economic principles are easy for any human being to understand, but nobody in the mainstream media is calling Obama out on it. The media completely accepts Obama's statements as the truth, without providing any warning to American citizens that Obama's desired change in foreign exchange rates will shift China's inflation crisis completely to the U.S.

On November 12th, NIA's President Gerard Adams warned Americans on FOX Business to beware of massive food inflation in early 2011. We are less than three weeks into the new year and massive food inflation is already here. SuperValu, the third-largest U.S. food retailer with 2,349 stores that operate under such names as Acme, Albertsons, Save-A-Lot, just reported that all of their major vendors have announced their intentions to pass along rising costs throughout the calendar year and the company will be raising prices on all food items by 3% to 14%. NIA's experience tells us that SuperValu is planning to increase prices on most goods by approximately 14%. Trust us, if SuperValu was expecting to increase prices by an average of only around 5%, they would have given an average instead of such a wide range. (By the way, SuperValu's stock crashed 16% on the news and one of NIA's top 10 predictions for 2011 was that U.S. retail stocks will decline after reporting lower profit margins.)

The SuperValu situation confirms that double-digit U.S. food price inflation is just about guaranteed to occur in 2011. We also expect to see double-digit price inflation this year in clothing, oil, gasoline, natural gas, and all of the most important things Americans need to live and survive. If the U.S. Bureau of Labor Statistics (BLS) somehow manages to report a CPI increase in 2011 of anything less than 5%, and the mainstream media continues to report the BLS's CPI numbers as the truth, any Americans who continue to listen to the mainstream media deserve to lose all of their purchasing power during hyperinflation.

It is important to spread the word about NIA to as many people as possible, as quickly as possible, if you want America to survive hyperinflation. Please tell everybody you know to become members of NIA for free immediately at: http://inflation.us

NIA's Top 10 Predictions for 2011

NIA's Top 10 Predictions for 2011

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The National Inflation Association is pleased to announce its top 10 predictions for 2011.

 

1) The Dow/Gold and Gold/Silver ratios will continue to decline.

 

In NIA's top 10 predictions for 2010, we predicted major declines in the Dow/Gold and Gold/Silver ratios. The Dow/Gold ratio was 9.3 at the time and finished 2010 down 15% to 8.1. The Gold/Silver ratio was 64 at the time and finished 2010 down 28% to 46. We expect to see the Dow/Gold ratio decline to 6.5 and the Gold/Silver ratio decline to 38 in 2011. Later this decade, we expect to see the Dow/Gold ratio bottom at 1 and the Gold/Silver ratio decline to below 16 and possibly as low as 10.

 

2) Colleges will begin to go bankrupt and close their doors.

 

We have a college education bubble in America that was made possible by the U.S. government's willingness to give out cheap and easy student loans. With all of the technological advances that have been taking place worldwide, the cost for a college education in America should be getting cheaper. Instead, private four-year colleges have averaged 5.6% tuition inflation over the past six years.

College tuitions are the one thing in America that never declined in price during the panic of 2008. Despite collapsing stock market and Real Estate prices, college tuition costs surged to new highs as Americans instinctively sought to become better educated in order to better ride out and survive the economic crisis. Unfortunately, American students who overpaid for college educations are graduating and finding out that their degrees are worthless and no jobs are available for them. They would have been better off going straight into the work force and investing their money into gold and silver. That way, they would have real wealth today instead of debt and would already have valuable work place experience, which is much more important than any piece of paper.
Colleges and universities took on ambitious construction projects and built new libraries, gyms, and sporting venues, that added no value to the education of students. These projects were intended for the sole purpose of impressing students and their families. The administrators of these colleges knew that no matter how high tuitions rose, students would be able to simply borrow more from the government in order to pay them.

Americans today can purchase just about any type of good on Amazon.com, cheaper than they can find it in retail stores. This is because Amazon.com is a lot more efficient and doesn't have the overhead costs of brick and mortar retailers. NIA expects to see a new trend of Americans seeking to become educated cheaply over the Internet. There will be a huge drop off in demand for traditional college degrees. NIA expects to see many colleges default on their debts in 2011. These colleges will be forced to either downsize and educate students more cost effectively or close their doors for good.

 

3) U.S. retailers will report declines in profit margins and their stocks will decline.

 

Although most analysts on Wall Street believe retailers will report a major increase in holiday season sales over a year ago, NIA believes any top line growth retailers report will come at the expense of dismal bottom line profits. NIA expects many retailers to report large declines in their profit margins for the 4Q of 2010 and first half of 2011. Retailers have been selling goods at bargain basement prices in order to generate demand. Americans, being flush with newly printed dollars from the Federal Reserve, have been eager to buy up supplies of goods at artificially low prices. However, shareholders will likely sell off their retail stocks on this news. As share prices of retail stocks decline, retailers will begin to rapidly increase their prices by mid-2011.

 

4) The mainstream public will begin to buy gold.

 

Although the mainstream media continues to proclaim we have a gold bubble, it is impossible to have a gold bubble when mainstream America isn't buying gold. The average American is more likely to be a seller of gold through companies like Cash4Gold, in order to raise enough dollars to put food on their table. Most Americans today don't even know the price of gold. During the next 12 months, we expect to see a huge ramping up in the public's knowledge about gold. More Americans than ever will know the current price of gold and understand that it is real money. By the end of 2011, we expect the general public to begin looking at gold as an investment, just like they began looking at Real Estate as an investment in 2003. Sometime during the next six months, we believe you will overhear a stranger at a restaurant talking about investing into gold. We believe the price of gold could surge to as high as $2,000 per ounce in 2011.

 

5) We will see a huge surge in municipal debt defaults.

 

In the closing months of 2010, we saw yields on municipal bonds rise to their highest levels since early 2009. After 29 consecutive weeks of inflows into municipal bond funds, investors are now pulling money out of municipal bond funds by record amounts, with $9 billion exiting municipal bond funds in the five weeks leading up to Christmas. NIA believes there could be a small dip in municipal bond yields over the next couple of months as investors realize that municipal debt defaults might not be imminent, but we expect municipal bond yields to begin rising again by mid-2011 with a huge surge in municipal debt defaults coming in the second half of 2011. Although the Federal Government has a printing press that it uses in order to pay its debts, cities and municipalities do not.

 

6) We will see a large decline in the crude oil/natural gas ratio.

 

When we released our top 10 predictions for 2010, crude oil was $73 per barrel and we predicted that oil prices would rise to $100 per barrel in 2010. Crude oil ended up rising by 26% in 2010 to $92 per barrel, coming short of our outlook. However, it is possible our $100 per barrel oil forecast might be off by just a month or two. We wouldn't be surprised to see $100 per barrel oil within the first two months of 2011 and if so, we expect to see a huge movement in America this year towards natural gas.

The crude oil/natural gas ratio currently stands at 20. Historically, the crude oil/natural gas ratio has averaged 10 and based on an energy equivalent basis, crude oil and natural gas prices should have a 6 to 1 ratio. Brand new fracking technology has caused natural gas supplies in the U.S. to rise to record levels. Although our country might be flooded with natural gas, the natural gas fracking boom that is taking place across the U.S. today is causing ground water in the U.S. to become contaminated. Americans living near natural gas wells that use fracking, are finding that they can now light the water coming out of their faucets on fire. New government regulations are likely to crack down on natural gas fracking and this will come at the same time as American individuals and businesses begin to convert their automobiles and machinery to run off of natural gas. A large decline in the crude oil/natural gas ratio in 2011 is likely, possibly down to as low as 15.

7) The median U.S. home will decline sharply priced in silver.

 

For the past couple of years, being able to make ones mortgage payment has been the primary concern for the average American. In an attempt to support housing prices and keep mortgage interest rates at artificially low levels, the Federal Reserve has been implementing massive quantitative easing and buying mortgage backed securities. NIA believes the Federal Reserve will be successful at putting a nominal floor under Real Estate prices. NIA also believes that the Federal Reserve's actions will cause a massive decline in the value of the U.S. dollar, which will allow Americans to more easily pay back their mortgages with depreciated U.S. dollars.

However, the Federal Reserve will not be successful at reinflating the Real Estate bubble. In fact, in terms of real money (gold and silver), NIA believes Real Estate prices will decline to record lows. The median U.S. home is currently priced at $170,600 or 5,500 ounces of silver. Priced in silver, the median U.S. home price is down 16% from one month ago and 45% from one year ago. After the inflationary crisis of the 1970s, silver rose to a high in 1980 of $49.45 per ounce. The median U.S. home price in 1980 was $47,200, which means the median U.S. home/silver ratio declined to a low of 954.

With the Federal Reserve printing money at an unprecedented rate and record amounts of new homes built during the recent Real Estate bubble, NIA believes it is inevitable that the median U.S. home will decline to a price of 1,000 ounces of silver this decade and possibly as low as 500 ounces of silver. In 2011, we believe a decline in the median U.S. home price to 4,000 ounces of silver is possible.

 

8) Food inflation will become America's top crisis.

 

Starting a few decades ago and accelerating in recent years, America has seen a boom in non-productive service jobs, mainly in the financial sector. Most of these jobs were made possible by inflation. Without inflation, which steals from the purchasing power of the incomes and savings of goods producing workers, the majority of the jobs on Wall Street would not exist today and our country would be in much better financial shape because of it.

With most Americans in recent decades seeking non-productive jobs in the financial services sector because that is where they could access the Fed's cheap and easy money, very few Americans sought jobs in the farming and agriculture sector. In the 1930s, approximately 28% of the population was employed in the agriculture sector, but today this number is less than 2%. Agriculture currently makes up only 1.2% of U.S. GDP, compared to the services sector, which makes up 76.9% of U.S. GDP.
There is currently a major shortage of farmers in the U.S. and a lot of land that was previously used for farming has now been developed with Real Estate. To make matters worse, agricultural products now trade on the international market and Americans must now compete against citizens of emerging nations like China and India for the purchasing of food.
Prices of goods and services do not rise equally when governments create monetary inflation. Inflation gravitates most towards the items that Americans need the most and there is nothing that Americans need more to survive than food and agriculture. As the U.S. government prints money, the first thing Americans will spend it on is food. Americans can cut back on energy use by moving into a smaller home and carpooling to work. They can cut back on entertainment, travel, and other discretionary spending. However, Americans can never stop spending money on food.

The days of cheap food in America are coming to an end. The recent unprecedented rise that we have seen in agricultural commodity prices is showing no signs of letting up. In the past few days, sugar futures reached a new 30-year high, coffee futures reached a new 13-year high, orange juice futures reached a new 3-year high, corn futures reached a new 29-month high, soybean futures reached a new 27-month high, and palm oil futures reached a new 33-month high.

 

We estimate that it takes as long as six months for rising agricultural commodity prices to be felt by U.S. consumers in their local supermarket. Even if food producers and retailers accept substantially lower profit margins in 2011, we are still guaranteed to see double-digit across the board U.S. food inflation in the first half of the year. That is correct, let us repeat, NIA guarantees that Americans will see double-digit food inflation in the first half of 2011.

 

Shockingly, except for Glenn Beck (who was kind enough to feature our food inflation report), absolutely nobody in the mainstream media is doing anything to warn Americans about the food inflation crisis that is ahead. In fact, left-wing groups like Media Matters (funded by George Soros) have been working tirelessly to try and discredit NIA's research while reassuring Americans that they need not worry about food inflation. The truth is, when Americans realize that they can no longer take food for granted, we will likely see the outbreak of an all out food price panic with everybody rushing to the supermarket to stock up on goods before prices rise even further. The end result will likely be government price controls and empty store shelves, but NIA doesn't project this to occur until later this decade.

 

9) QE2 will disappoint and the Federal Reserve will prepare QE3.

 

The Dow Jones is now back up to 11,670, which is where it was in mid-2008 before the crash. NIA believes that most of QE2 has already been priced into the market, before the Federal Reserve even prints the $600 billion. At some point, we expect it to become apparent to all that the U.S. economic recovery is phony and stock prices are rising solely due to inflation. In our opinion, we will see some sort of catalyst that causes the stock market to sell off at some point and the consensus on Wall Street will be that QE2 will not be enough to save the U.S. economy. By the end of 2011, we expect the Federal Reserve to begin planning QE3. QE3 might be the final dose of inflation that causes the U.S. economy to overdose into hyperinflation.

 

10) Sarah Palin will announce she is running for President as a Republican.

 

NIA believes that Sarah Palin has been setup perfectly to run for President in 2012 and that she will announce her candidacy for the Republican nomination with great fanfare from tea party supporters in 2011. We give Sarah Palin credit for recently speaking out against the Federal Reserve's QE2 and warning Americans about the food inflation crisis that is ahead. Unfortunately, we believe Sarah Palin is not a true independent and is being controlled by the Republican establishment, which is just as responsible as the Democrats are for the financial crisis we have today. As President, Palin would be unlikely to implement the measures that are necessary to prevent hyperinflation. In our opinion, we need to elect a true libertarian candidate as President who will cut government spending, balance the budget, and restore sound money. NIA intends to support Ron Paul, if he decides to run for President.

 

It is important to spread the word about NIA to as many people as possible, as quickly as possible, if you want America to survive hyperinflation. Please tell everybody you know to become members of NIA for free immediately at: http://inflation.us

The Crashing Dollar | Preparing Americans for the Unavoidable US Economic Collapse

The Crashing Dollar | Preparing Americans for the Unavoidable US Economic Collapse

The coming dollar crisis explained and what you can do

Information you need to know

People do not believe the coming dollar crisis will happen.  They think the government will save them and the country.  One only has to look at the response the government had to Hurricane Katrina and realize the government is inept to handle emergencies.  It has already happened in Greece and other countries in Europe and their debt wasn't as massive as the United States.  The only reason we haven't met the same fate of those other countries yet is because the world market uses the US dollar for the exchange currency.  However, other countries are working to change that and have even held secret meetings without the US present.  It is coming and it's coming quickly.  Be prepared or be one of those naysayers and rely on the government as they have handled everything so well so far.
Listen to the people in my other posts.  They have no affiliation with the government and are telling it like it is.  They are telling the truth.  The economists and others that have ties to the government do not want anyone to know what is going to happen.  They do not want to panic the people.  When things get bad, the will nationalize the banks and seize all assets including yours... your life savings.  They are already working on nationalizing 401k and other retirement plans so they can seize control of them when this crisis occurs.  Of course you can sit back and believe what the government tells you as they have no reason to lie to you, yeah, right.  or you can prepare.  What have you got to lose?  What have you got to gain/save?  

 The Crashing Dollar

Side note:  One has to wonder if the invasion by the TSA is for terrorism or just prepping the people for the upcoming violation of liberty and freedoms that we enjoy and hold so dear.  Is the government just beginning to prep people for the upcoming martial law that will result when the dollar does collapse?  Check out the links and actually listen to these people and it is shocking and so clear that this in fact will happen and most people do not believe that it can,  not in America.  It will and the government will not save us.  They cannot agree on the smallest of problems, how will they handle the upcoming crisis?

Buy and/or invest in precious metals.  Paper money will be worthless and inflation will be rampant.  Gasoline $8 to $10 a gallon, bread $5 or more.  It will happen.  You should have enough non-perishable food and water for at least six months.  There will be power and water interruptions, crime waves and food riots.  If you don't think it can or will happen, God help you when it does.  It is coming.

Preparing Americans for Hyperinflation

Liberty Institute

Gerald Celente's Top Predictions for 2011

Bill Still's Speech at Bromsgrove 2010

The Coming Bond Bust: What Happens When Your City or State Goes Broke?

Celente: Revolution next for U.S.