Well, since the gov’ment under George Bush says we have nothing to worry about, we have nothing to worry about, since lord knows that man never tells an untruth. Bailing the private entities out WILL cost taxpayers money. Money that will go to the wealthy, mostly entrenched men, who caused the crisis in the first place.

We have guys still running around openly teaching folks how to create multiple corporate entities to get massive amounts of credit to buy real estate. They plan to never have to take responsibility for bad decisions. All political proposals so far still intend to hand more money to the dishonest, incompetent ones instead of those who are not greedy, and do their housing activities right and for the good of many.

Let’s face it, the same wall streeters that we are paying dearly to avenge their deaths in the towers’ brethren are still cheating folks worldwide and taking their wealth back to their caves. It’s never enough for them. Bad paper was pasted worldwide, and now it is coming home to roost.

Bank bailouts cost our futures dearly. We have corps denying folks their promised retirements and health care. But Bush said it is all good and the mission is accomplished. So I feel all IS well and we shall all be happy, fat and wealthy beyond measure for all times. GB never lies, and neither do his buds. Smoke a big, oily fattie for me and call me in the morning GB! My hero…ya gotta love him!

>>>”Bad paper was pasted worldwide, and now it is coming home to roost.”<<<

Congratulations, Slugger. That is one of the worst mixed metaphors I’ve ever read.

The one thing for certain is, those who have stored up wealth should not feel so secure. Our future does not only have the crash of banks to look forward to, but also the stock market. They both are going to crash.

People should ask themselves, if all their wealth were to suddenly vanish, then what?

If their were to suddenly disappear, then what?

If they were to lost their retirement income, what then?

While we are at it, we have better start praying to God that He fix the hearts of those who could cause our economy to come tumbling down at the snap of a finger to fix their hearts to not do cause such a drastic thing. No matter what things will never be the same. America has made its bed and will suffer the consequences for having its heart fixed in the wrong direction without seeing fit to change.

The only thing one has to look forward to are their prayers that God will be with them. People who are willing to turn their hearts right will make it through these hard times that are surely to come. One should also remember that God listens to the prayers of the righteous, not the unrighteous. So people, I hope truly desire to change to be right in God’s sight.

Some will, but many will not, but those who do will be able to count on the safety net of God, the others will not be able to.

Those who say that they are in control of their own destiny and life will soon learn that that have never been true, but are only a myth.

This economy is going to totally fall; this is the one thing all can count on. The fact that this is going to happen, the less conflict we have with other countries, the better for the U.S.

The one thing for certain is, those who have stored up wealth should not feel so secure. Our future does not only have the crash of banks to look forward to, but also the stock market. They both are going to crash.

People should ask themselves, if all their wealth were to suddenly vanish, then what?

If they were to lost their retirement income, what then?

While we are at it, we have better start praying to God that He fix the hearts of those who could cause our economy to come tumbling down at the snap of a finger to fix their hearts to not do cause such a drastic thing. No matter what things will never be the same. America has made its bed and will suffer the consequences for having its heart fixed in the wrong direction without seeing fit to change.

The only thing one has to look forward to are their prayers that God will be with them. People who are willing to turn their hearts right will make it through these hard times that are surely to come. One should also remember that God listens to the prayers of the righteous, not the unrighteous. So people, I hope truly desire to change to be right in God’s sight.

Some will, but many will not, but those who do will be able to count on the safety net of God, the others will not be able to.

Those who say that they are in control of their own destiny and life will soon learn that that have never been true, but are only a myth.

This economy is going to totally fall; this is the one thing all can count on, other than their faith in God. People who thought that their stored up wealth was their security will learn that they were wrong in their thinking.

The fact that this all is going to happen, the less conflict we have with other countries, the better for it will be for the U.S.

I even had someone tell me once, if they lost everything and was left with nothing, or could not care for themselves, they would kill himself. How sad it is that such a person does not understand who is his true strength is and who is the One who can see him through in hard times. If only this person would change turn away from evil and have faith.

I am totally surprised that so many people do not know whether their life savings are insured or not. I, for one, do not have over $100,000 in a bank. If I did have $100,000, I would certainly do my homework first to see if I’ve put it in a safe place. Each depositor is insured up to $100,000 in an account. If you’ve also got additional money to place in a retirement account, your are insured up to $250,000. If your bank fails, you receive $350,000. If you have more money than that - you can use your spouse or child on one account, you on another - or go to a different bank an open up other accounts. It’s not rocket science. Does the government have to hold our hands to do everything??????

p.s. The only way that banks will fail is if people buy into the news that is being reported with scare tactics. The media neglects to inform people that in 1989-90, during the S&L crisis, there were 1500 banks on the “problem list” with the FDIC. Today, there are 90. There are approximately 8500 banks in the US, 90 on the problem list - which doesn’t mean that they will fail - just that there are problems that need to be addressed. There will be bank failures due to the credit crunch and the subprime mess, but nothing will come close to what happened during the S&L crisis - unless the public buys what the media is spewing.

The bellweather companies are Fannie Mae and Freddie Mac. Since there appears to be some negative sub-prime lending issues with these two, I’m not terribly comfortable at the moment that we won’t see other banks, even large lenders like these, fail. I agree though, the S&L crisis was pretty bad and the world didn’t implode then. Personally, I’ve always made sure my bank is insured by the Feds, and we all know not to keep all of our eggs in one basket.

Kathy,

With the Saudi’s having over a trillion dollars desposited in our banks. If they want to call the banks to fail, the only thing that they must do is pull this money out.

Of course some of you think to hell with the Saudi’s we will not allow them to remove their money, then think how every foreigner who invested in our banks and stock markey would want their money and the choas to this economy that would follow.

But, it is all going to fall regardless, not sure if it will be because of foreigners pulling their investments out of the American economy or what, but it is going to happen.

Also, in the event of a serious banking crash, I do believe that only $100K would be guaranteed no matter how many different banks that you have 100k in.

Also, if something so drasctic happens, do you seriously think that anyone would get even one red cent of their money back?

And what if what you got back was worthless paper, due to the dollar being worth so little?

I’m more concerned about Barack taking it as opposed to not being able to get it out of the bank. That is more realistic.

D. Walker, Instead of praying, why didn’t you devote your time to teaching idiots how to read, or explain to them that sub-prime loans are a path to the poor house.

I didn’t pray when I saw what was happening to our economy. I “invested” monies in a dozen different countries. I am doing quite well.

I couldn’t belive that sane human beings would have McCain and Hussein Obama as contenders for the President of this country.

If you think “prayer works”, pray that neither of them gets one vote.

Then we can start over.

Do you agree?

God isn’t going to save your assests.

Slugger, is there anything that you can’t blame on Bush? I wish life really was that simple…As for bailing out Fannie and Freddie, that is going to protect all of us in the long run. Financial system collapses are really ugly things (see the Great Depression) and you don’t want to be alive during one. I don’t disagree that the financial industry is wholly to blame for this, in fact this is the second time in the last 25 years (S&Ls being the other) that the financial industry has led us into recession because of their greed. But bottom line, we will lose for more in wealth, productivity, and future GNP if we just let Fannie and Freddie collapse. And don’t take my word for it, go check out the economic blogs like I do and read it for yourself…

D Walker, the Saudis do not have a trillion dollars sitting in a checking account. They have money invested, not deposited, which is completely different. No one with a trillion dollars is going to plunk that amount in a bank account and earn a tiny interest rate. That’s like saying the Chinese “own” America because they have invested in Treasury debt securities. They own nothing tangible, and you can’t trade in Treasury Securities for the White House. Foreign citizens and governments invest here because we have the most stable and free-market orientated economic system in the world, end of story.

Kurt, I am not worried about my investments or my accounts. I have even increased my paycheck deductions since the market has gone down because you can get more for your money right now. When the stock prices go back up (and they will) I will be even further ahead.

depending on your marital status, you can have several insured accounts in a single bank. you can put 100,000 or less in a gazillion banks if you want and it would all be fdic insured. credit unions also have fed insurance. qualified retirement accounts are usually insured up to 250,000. the key is spread your money around so that you don’t have more than 100,000 in any single account. in the indymac case, you are insured for the first 100,000 and then can expect to receive 50% on the excess over 100,000. people’s own fault if they lose, they shouldn’t have put so much into one account.

Worried about my savings? No. For one thing, I barely have any. What savings I do have, are about 60% gold, 20% silver, and 20% cash.

I’m far more worried about “present income” than savings. The unemployment rate is shooting up, and inflation is eating it hardcore.

FYI, this happens when you’re at war longer than we were in WW2. DOn’t like $4 gas? Write your congressman and tell them you want them to stop spending $2,000,000,000 per day in Iraq & paying for it with deficit spending and self-counterfeiting.

Fannie and Freddie do not buy sub prime loans they only purchase loans that are considered “A” paper. They buy loans in which borrowers have good credit, VERIFIED income, at least 5% down (those over 80% LTV have private mortgage insurance) and verified assets. These loans perform very well and yes the delinquency on these loans is up a bit but nothing terrible. What has happened to Fannie and Freddie in a nutshell is they are having trouble selling the notes as mortgage back securities on Wall Street. The so called experts on Wall Street can’t seem to figure out the difference between sub-prime and “A” paper loans. Therefore, Fannie and Freddie are running out of capital to back or buy these loans, this is why the Fed opened up the Fed’s cash window (bank have this available to them each day) to borrower funds at a discounted rate to back the loans they are holding.
One thing is for sure the Fed cannot let Fannie and Freddie go under, it basically will destroy the already week housing market. If they failed the fixed rate mortgages will basically fail to exist. Banks cannot put 15 and 30 year fixed rate mortgage on there books we would be looking at another S&L situation down the road.

FDIC, It is basically and insurance company. Banks pay premiums to the FDIC based on the amount of deposits they hold and it also is risk based depending on ratings given a particular bank as the results of Federal audits.
If you have more than $100,000 in any one bank and do not have the accounts titled correctly you could lose your money over that amount. A husband and wife could have $200,000 in a bank and their money would be perfectly safe. You simple make the husband the sole owner and the wife beneficiary on an account with 100K and vise versa. Viola, both accounts are insured.
There are too many banks that someone should lose money if they know what they are doing.

I don’t worry about it, because I know that johnh will always loan me $500,000 to start my own new business, and within 6 months I should be a multi-millionaire just like those happy folks in the TV commercials at 2:30 am.

Regardless, I don’t keep much money in my bank account….just enough to pay my bills. The interest they pay is pathetic. If the FDIC paid out all the money it owed everyone in a massive run on the banks, we shall have inflation like Weimer Germany.

We may be headed for a “Great Recession” and the only way to get out of it will be to overthrow this Capitalist Empire with a free enterprise system based upon the Fair Tax Plan, the breakup of monopolistic corporations with assets over $1 billion dollars, and free drinks for all the chix.

Typical panic piece.

I agree with the previous post, now is the time to be buying. With regards to investing, do the exact opposite of the stupid folks that follow the media and their emotions and you will come out smelling like a rose. When most idiots are selling, I am buying. I too increased my 401k contributions and last night emptied the kids piggy banks to put into their 529. I will be shaking couch cushions looking for loose change to add to my mutual funds.

Wise investors with a long term outlook see past this mornings news and know that this is a great time to bargain shop. Savvy investors are licking their chops snatching up discounted companies from the bargain bin while everyone else flees to “perceived safety.” When the market turns around, and it always has, the chicken littles will cry that the rich are getting richer as their assest values increase. Meanwhile, idiots will have their money in a fruit jar or under their mattress losing more and more money to inflation and taxes.

Newt, go ahead and explain for all of us how the war in Iraq has anything to do with the price of oil.

If the banks fail, the country is done, period. With that known, no, I’m not too worried.

Kathy you’re right on the mark. Chuck Schummer (D-NY), made comments about IndyMac one week prior to it’s collapse regarding his concerns about the strength of the company his concerns about it folding. His comments contributed to the run on company according the OTS. The OTS, of course, was denigrated by Schummer but remember, Schummer and his democrat buddies WANT there to be problems with the banks and mortgage companies. They WANT oil prices to be high. They WANT us to fail in Iraq. They WANT to have the highest office in the land and they’ll say anything to stoke people’s fears.

Banks are safe places to put your money. Mortgage companies are generally pretty sound. The FDIC was put in place to help protect depositors after the run on the banks leading to the Great Depression.

The subprime mess was a combination of unscrupulous selling practices AND the lack of personal responsibility of those taking out the loans. This economy will bounce back as it always does and maybe people will be just a bit wiser about where and how they invest their money. Now is the perfect time to buy stocks. It’s also the perfect time to buy a home. I wish my teenage boys were old enough to buy a home…they are a steal right now.

Why hasn’t the St. Louis media reported if any of our local branch banks are on the watch list? I’ve heard that National City is in trouble.

God listens to every human on this earth.Only God can judge.

Feverpitch
There was a report on the news this morning that most of the “local” banks, Commerce, Premier, Midwest BankCentre, Champion, Enterprise, First Bank etc are on solid ground. For the most part these banks did not get messed up in the sub prime mortgages and have strong capital reserves behind them.
National City, could become a victim if there name keeps popping up as being in trouble and they have a run of customers withdrawing their deposits. They have had numerous adds lately advertising for cd rates that are generally higher than most banks are paying, this COULD indicate they are losing deposit accounts at a fast past and need to pay above the market rate to attract new deposits. Keep in mind the main source of a banks profit is the difference between what they charge on a loan and what they pay out on deposits, if this margin keeps shrinking it does not do much for the bottom line.

momama, he listens, but he doesn’t dole out financial advice. That is why he gave you a brain.

We’re still paying off student loans and will continue to do so for the next decade……so there isn’t alot to “save” at the end of the week. But if we were in a position to significantly save money each week, I would completely trust any FDIC-insured account.

I have my savings spread around. I have a 401K at work, my wife has a 401K at her work, plus we have a roth IRA and a traditional IRA (rolled 401K from previous employer into) at Edward Jones. It’s spread around pretty good, so I’m not worried a bit. It’s not FDIC insured, but it’s spread across quite a spectrum of funds that vary in risk. Anyone who keeps their savings in a bank earning 2 or 3 percent might as well dig a hole in their back yard and bury it.

It will sure be nice in January 2009 when Slugger and the other liberal Bush-haters no longer have the president to blame for all things wrong in their lives. But, I forgot, they will still be blaming Bush after Barack is in office. At least you know where Bush stands and that he is a Christian (one of the core reasons for the Bush-haters’ disdain) while Barack seems to adjust his Christian beliefs and church and leadership/mentor choices as the political winds lead him from time to time.

Nero in Rome,

You are so INCORRECT. Saudi have this trillion in BANKS, checking? What differance does that make, but yes in our banks.

Saudi Arabia keeps as much as a trillion dollars on deposit in US banks, an agreement worked out in the early eighties by the Reagan Administration, in an effort to get the Saudis to offset US government budget deficits.

Research this for yourself, this I thought was common knowledge by most people.

Why Nero…you democratic shill…I am PRO-BUSH all the way. Did you not see that from my post. Now go take that little blue pill and leave me alone…donkey voter!

Don’t worry. Most foreigners will treat us a lot better than our own politicians have once they own us officially.

JohnH, why don’t you run for office “O GREAT ONE”? Your lady/support system has enough of a war chest from that pay day loan job she has. I’ll vote for you just for the laughs.

Ah, the sheeples will tell you this will blow over and they can’t wait to get back to doing it the same way all over again. Since Enron I am surprised any of you are so foolish as to believe your retirement funds are safe. You would do better to spend you energy bringing back whistleblower protections. They have been gutted, and they are your last line of defense against more Enrons et al. Click those red ruby heels together three times for me now and wish hard. There’s no place like home… And quit picking on Slugger. She put a nice post up about your god Bush for a change. Mark and JohnH, you are so silly to keep spouting that false stuff about Obama’s religion. And why don’t you pro-Bushers go fight that war and let the tired young women come home (to lesser rights…STILL)…and quit avoiding taxes with your fancy accountants while saying you are pro-war and love this country. And quit going onto the social security and medicare rolls if you hate dem programs so much. Hypocrites IN AND OUT of the restrooms, aren’t cha? Mark…Nero…suit up babies…you have a mission to accomplish. So far…you LACK! Hoo-RAH!

Way to hold together a coherent thought Pia…

D Walker, the Saudi’s have a banking system of their own, they don’t need ours. Saudi’s are heavily invested in many things, financials included. I couldn’t find anything about them having such a large sum of money in a demand deposit account, if you have a link I would appreciate it if you would post it. No offense, but “common knowledge” means little to me.

The money isn’t here in this bank…its in fred’s house and nancy’s house…..

Anyway, I think I’m going to put my money some place safe, like a bank in china or switzerland.
does anyone know the best way to convert cash into euros?

Nancy Pelosi?

Still waiting Walker…Hurry, because Pia is no doubt bubbling up with another inane rant sure to shut down the whole internet.

Patience Tim.

Here’s one:

http://www.saudi-american-forum.org/Newsletters2004/SAF_Item_Of_Interest_2004_07_01b.htm

Tim,

This is a interesting factual article.

http://www.brazzil.com/p117jun03.htm

Slugger, your message is incoherent.

Bush is a great president. You and other liberal cronies keep perpetuating this lie that Bush lied about the war. Take your hate somewhere else. R ead and understand the facts and context of why we are at war.

So how about giving your imput now Nero and Tim. Would you like to sing a different tune now?

“I’m from the government and I’m here to help you”….a line from an old joke.

I would figure that if everything tanked (and it does seem like a real possibility), probably the big financial powers would get bailed out first, just like Bear Stearns did. I’m not saying that is ethical but it is what would likely happen.

I feel that regular “Joe-Six-Pack” bank accounts would be safe enough, but envision the government putting a freeze on large withdrawals, to prevent a run.

The best thing a regular citizen can do is to be debt-free. That is always good advise, even in times of easy and loose money.

In times like these the saying “Cash is King” really holds true.

Is it just me or does anyone else feel as if they are living in the last days of the Roman Empire with the barbarians nearing the city walls?

I feel like we’ve all forgotten the S&L crisis so fast. The world didn’t end. We still had banks when it all was said and done, and the FDIC paid every single dime it guaranteed at banks. So no, I can’t say I’m worried that our financial institutions are going to go away.

Some of you people need to dust off your history books, or at least go watch “It’s a Wonderful Life.”

I’m astonished you all put such faith in the FDIC, the NCUSIF, the SAIF and all such acronyms. Who ultimately does the insuring of these $100,000 accounts> “The full faith and credit of the United States Government” which itself is in debt to it’s eyeballs. In short, we’re all self-insured. In a full fledged panic, including the loss of faith by the banking industry in the US government, we’re all toast, since the US dollar is not secured by tangible assets beyond those held by the US Government (buildings,tanks, office equipment, land, etc.)

Money is only worth what people say it is. And that can change very rapidly, despite safeguards. It’s to everyone’s advantage not to panic. The US has survived bank panics before. It’s not pretty. But there is no Bigbucks Daddy in the sky insuring your $100,000 bankrolls. Get over that notion, and we’d all be better off.

Does anyone remember the last big “financial crisis” involving bank failures? Wasn’t Silverado Savings another one of the Bush family’s pet project? Something about Presidential Son and Brother Neil Bush.

For a history see:
http://www.washingtonpost.com/ac2/wp-dyn/A35297-2003Dec27?language=printer

Teresa, the FDIC is funded by charges on banks and their accounts, not by the federal government. Money is being set aside to pay for bank failures–it doesn’t go straight to the government’s balance sheet. In effect, our government is forcing banks to contribute to an insurance fund.

They are a backstop, this is true, but we’re not funding the IndyMac bailout on the taxpayer’s dime. In the event that the FDIC runs out of the funds it has received to date, the government has the ability to take the money back by increasing the fees paid in the future by banks.

Paul,

What the government buffer you are.

People you should follow your conscience, don’t listen to anyone but your conscience.

I worry because so few people know that the Federal Reserve is neither Federal nor does it have Reserves. It is a private conglomerate of banks that print fiat money out of thin air and devalue the dollar at their whim. They control and strangle the American economy at their will and there is no control over them. They are a group of international bankers and zionists. I also worry that most sheeple constantly expect me to pull a gold bar out of my butt and send it to Israel because “it’s the only true terrorist state in the Middle East and it was founded on a lie and it has Weapons of Mass Death and intends to use them”. Well I have something to pull out of my butt and send to Israel and it matches what Israel is.

Not worried about getting my money, only worried about what it will be worth when you get it out.

The funny thing is that the U.S. use to be a gold backed currency, it is not anymore. The U.S. dollar is now a oil backed currency.

I told my friend last year that if I were him I would begin to convert my millions into Euros. before the U.S. placed into law something that would keep you from being able to withdraw large amounts of money and transferring it out of this country.

I bet today if one were to do try and convert alot of US dollars into Euros, no country would be willing to accept all these U.S. dollars today.

These countries do not want to be holding all this U.S. currancy that will sooner than later be worthless to them, it will be worthless paper.

People whose security is in their wealth have better hold on for a pretty shocking ride.

D. Walker–that’s one heck of a conspiracy theory you have there about the dollar. You can go to any big bank on Wall Street and convert your dollars into Euros. How do you think they come up with exchange rates other than through market activity? You can convert vast sums of money into any major freely traded currency–the currency market is the deepest market in the world.

Explain the part that you think is a conspiracy theory, is it the part where I state that the U.S dollar is backed up by oil instead of gold today?

I believe that if anyone went to a wall street bank and attempted to convert millions of dollars into euros to place into a foreign bank, they would have a problems. You can think it is a conspiracy if you want, but when these people begin attempting to do just that we will see, won’t we?

Also Paul,

Re: The US dollar has become an oil backed currency, not gold backed currency, read this, do more research then give us some real commentary, and not the usual Conservative head in the sand spill you are so accustomed to.

http://www.cafcs.wvu.edu/resm/PDF/labys/MelhemTerraza.pdf

Your comments are bizarre about currency conversion. I’m convinced you have zero idea how the currency market works. You can convert millions of dollars into Euros all over the world, be it on Wall Street or in Frankfurt. The whole point of exchange rates is that they reflect what prices the market is setting when one currency changes hands for another. It’s just like the stock market–someone says I will give you $26.50 of US Currency for a share of Bank of America. On the currency market, the swap is simply $1.5862 for 1 Euro.

If foreign banks wouldn’t sell the Euro for dollars, there would be no exchange rate. There would be no market.

The reason the price has gone up is because those that hold Euros demand more dollars in exchange for them. That doesn’t mean banks holding Euros refuse to sell them for dollars; it means they expect more dollars in return for those Euros.

The US dollar hasn’t been a gold-backed currency since Nixon pulled us out of the Bretton Woods system. I’m well aware of that.

Oil does not back the US Dollar in the same way that gold did. The use of the US Dollar as the single price currency for oil ensures that our currency is the anchor currency for the world, but the dollar is really just a fiat currency. Our government can turn on the money spigot in a way it could not do under the gold standard. That leads to fundamental inflation that bleeds back through to the American consumer in the price of everything–oil, gold, etc. That doesn’t mean that our currency is backed by any of them. The value of oil in US Dollars changes to reflect both dollar-denominated inflation and the change in demand for the commodity–this is the same as an other commodity. It acts in a similar way that the gold standard acted, but it’s not exactly the same thing.

Paul, I realize the text-book prospective of things you are speaking of and, how man, our government intended and thought things would continue to be and the way they were suppose to turn out. What I am foreseeing is that at some point no one will be able to convert large amounts of US dollars to Eros.

Now, what you and anyone can do is disagree with me, and only time will tell if I am right or wrong. I say that you are looking at things through a very narrow Pollyanna perspective in very unstable times.

You remind me of all those experts talking about how real estate values would keep its pace. I was told that I knew nothing back then also. I was unlearned and nuts. Figure that, now look where we are, and the real estate tragedy hasn’t even begun as far as where it will all end.

I say mentally prepare yourselves for what will be your security when it all finally happen.

Many serious economists felt that there was a housing bubble. The technical signs were there.

There’s one big reason the dollar won’t absolutely collapse–the power of central banks to act in harmony to strength or weaken a currency. It’s happened before–see the Plaza and Louvre Accords of the 1980’s. They have the ability to make a market.

Paul,

They have a ability to make a market?

The wisdom of man. What can one say?

Give it up Dwalk, Paul explained currency trade to you in 3rd grade language and you still don’t seem to get it. You are way out of your league on this. You may want to consult Garrison. He has a firm grasp on googling an article that agrees with his view and then plagiarizing said article. Seems you need that help now.

Good explanation Paul.

Amazedbythelunacy,

Okay.

I found an article by a South Asian financial expert that I agree 100% with. It also explains why Paul’s false belief that the Plaza and Louvre Accords of the 1980’s will not work in this present economy. Paul’s old ways of thinking does not hold true in this new present day economy that we find ourselves in. It is a very interesting and common sense view of what really is in the world today and the US economy.

Amazedbythelunacy,

I don’t expect that you will be unblinded after reading it, but I look forward to hearing your and Pauls comments concerning this expert’s views.

http://www.cato.org/pubs/journal/cj27n3/cj27n3-1.pdf

Amazed and Paul,

Forgot to tell you to start reading from page 309, but all of it is very good for knowledge and is something that you should read.

Tell me what you think under the conclusion, that part starting on pg. 322.

If I were anyone interesting in learning about this global economy, I would print off all 300+ pages and place it into a notebook and really take this information in.

This is a good article that I have attached that is in keeping with my thinking below:

http://www.informationliberation.com/?id=24392

All of this facts only backs up the truth of biblical prophecy. The US is not even a player in the game of super-powers. We will not be, and it is so clear now how that will come about. We are going to fall, it is inevitable. Now you’re thinking that I’m really nuts, aren’t you?

It is also good to read about what is going on in other countries from their point of views.

http://www.en.rian.ru/

I was looking for the article about how Iran had annouced in December 2007, that they would stop accepting US. dollars. Remember when Saddam Hussein annouced this how we went to war with Iraq? Well Iran have too strong of allies and such an act will not be so easy if are are so foolish enough to attempt it.

Found it! “IRAN STOPS ACCEPTING US DOLLARS”

http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=59109

Also notice in the article above that in 2005 Venezuelan President Hugo Chavez annouced that he was going to stop accepting US dollars. This is the reason the U.S. hates this man and want him removed. It is all about oil and money, not that he is some crazy ruler dictator.

Chavez also urged PetroCaribe summit participants to establish financial institutions that would be independent of the International Monetary Fund (IMF) with nations such as Russia, Belarus, China, India and Iran.
He said the time had come for “a strategic energy alliance” with these countries, and noted that Venezuela recently set up a $6 billion development fund with China.

The socialist leader, an outspoken critic of Washington and opponent of neoliberalism, has focused his foreign policy on bolstering ties with countries outside the U.S. sphere of influence since coming to power nine years ago.

http://www.en.rian.ru/world/20080714/113897844.html

“Now that the power brokers, bankers, and oil men have taken control of our country, we must embrace ourselves for one of the worse economic down-turns this country has ever faced. When we witness the business side of government take away from the hard working middle-class, the elderly, the disabled, the families trying to make ends meet while working 2 jobs or 2 shifts, we will learn from our mistakes. An unregulated, supply side corporate friendly administration is about to embark on everything America stands for.. and has fought for… and has died for. The greatest generation will again return….We must always remember our true passions are with our communities and our country. The dark days of this new administrations will soon pass. The American people will move forward”.

November 9, 2000.
John Sweeney, President AFL-CIO. Commenting after the 2000 Presidential Election.

John Sweeney, we can see now, at least some of us can see, had true wisdom and insight.