Watch Gypsy Blow the Whistle on the 9-11 "Truth" Commission

We need more Americans to stand up with the courage of this brave Russian immigrant! Look at Zelikow's face and see the fear and the guilt. Of course the intelligence agencies carried out 9-11!

-Etienne

True Courage in the US Military - Lt. Ehren Watada

Officer at Fort Lewis calls Iraq war illegal, refuses order to go

Complete Story Here: http://seattletimes.nwsource.com/html/localnews/2003044627_nogo7m.html

Excerpts:

In a rare case of officer dissent, a Fort Lewis Army lieutenant has refused orders to head out to Iraq this month to lead troops in what he believes is an illegal war of occupation.

1st Lt. Ehren Watada's Stryker brigade is scheduled to make its first deployment to Iraq this month. His refusal to accompany these troops puts him at risk of court-martial and years of prison time.

"I feel that we have been lied to and betrayed by this administration," Watada said Tuesday in a telephone interview from Fort Lewis. "It is the duty, the obligation of every soldier, and specifically the officers, to evaluate the legality, the truth behind every order — including the order to go to war."...

..."I had my doubts," he said. "But I felt like the president is our leader, and he won't betray our trust, and he would know what he was talking about, and let's give him the benefit of the doubt." Over the past year, his feeling changed as he read up on the war and became convinced that there was "intentional manipulation of intelligence" by the Bush administration.

In January, Watada told his commanders that he believed that the war was unlawful, and therefore, so were his deployment orders. He did not, however, consider himself a conscientious objector, since he was willing to fight in wars that were justified, legal and in defense of the nation.

It is every officer's duty to defend the constitution from all enemies foreign and domestic and well within their rights to refuse to follow unconsititutional orders. The US needs more officers of true courage, moral fiber, and the wisdom to understand the abject, blatant lies coming out of Washinton DC. Lt. Watada should be commended for refusing to particpate in the murder of innocent brown people in what is an obvious attempt to steal their oil and destroy their country so it can be "rebuilt" by Halliburton, Bechtel, and other Bush cronies. - Etienne

Sir! No Sir! - MUST WATCH MOVIE TRAILER

Click the Image Above or Here to watch the Trailer.

Info on the Movie Here: http://sirnosir.com/index.html

And Don't forget to watch the Flash: Punk Ass Crusade!


Click on the Image above or Here for the Flash. (Yeah... I posted it again cause I love it so...)

"We are Going to Spray and Push" - MUST WATCH VIDEO

This should have been titled: "Why Good Honest Decent People Don't Like The Pigs"



To watch the cops and the corporate media get busted lying and covering up the police's illegal, unconstitutional, and morally irreprehensible chemical warfare (pepper spray is a chemical weapon) against peaceful demonstrators exercising their constituitional rights click the image abover or Here:

You have really got to be a mind-controlled zombie robot cop to take orders that are OBVIOUSLY unconstitutional, morally irreprehensible, and without a doubt will result in injury (and potentially the death of) inocent women and children. HEY COPS: This is why good honest decent people don't like you!!!

-Etienne

What the price of Gold is Telling Us - By Congressman Ron Paul, Texas 14th

The complete article should be read by all concerned, thinking americans and holders of the US Dollar everywhere.

Full Article can be found Here:

http://www.freemarketnews.com/Analysis/110/5067/2006-05-26.asp?wid=110&nid=5067

Excerpts:

The financial press, and even the network news shows, have begun reporting the price of gold regularly. For twenty years, between 1980 and 2000, the price of gold was rarely mentioned. There was little interest, and the price was either falling or remaining steady.

Since 2001 however, interest in gold has soared along with its price. With the price now over $600 an ounce, a lot more people are becoming interested in gold as an investment and an economic indicator. Much can be learned by understanding what the rising dollar price of gold means...

Holding gold is protection or insurance against government’s proclivity to debase its currency. The purchasing power of gold goes up not because it’s a so-called good investment; it goes up in value only because the paper currency goes down in value. In our current situation, that means the dollar.

One of the characteristics of commodity money-- one that originated naturally in the marketplace-- is that it must serve as a store of value. Gold and silver meet that test-- paper does not. Because of this profound difference, the incentive and wisdom of holding emergency funds in the form of gold becomes attractive when the official currency is being devalued. It’s more attractive than trying to save wealth in the form of a fiat currency, even when earning some nominal interest. The lack of earned interest on gold is not a problem once people realize the purchasing power of their currency is declining faster than the interest rates they might earn. The purchasing power of gold can rise even faster than increases in the cost of living...

Many central bankers in the last 15 years became so confident they had achieved this milestone that they sold off large hoards of their gold reserves. At other times they tried to prove that paper works better than gold by artificially propping up the dollar by suppressing market gold prices. This recent deception failed just as it did in the 1960s, when our government tried to hold gold artificially low at $35 an ounce. But since they could not truly repeal the economic laws regarding money, just as many central bankers sold, others bought. It’s fascinating that the European central banks sold gold while Asian central banks bought it over the last several years...

...The special nature of the dollar as the reserve currency of the world has allowed this game to last longer than it would have otherwise. But the fact that gold has gone from $252 per ounce to over $600 means there is concern about the future of the dollar. The higher the price for gold, the greater the concern for the dollar. Instead of dwelling on the dollar price of gold, we should be talking about the depreciation of the dollar. In 1934 a dollar was worth 1/20^th of an ounce of gold; $20 bought an ounce of gold. Today a dollar is worth 1/600^th of an ounce of gold, meaning it takes $600 to buy one ounce of gold.

The number of dollars created by the Federal Reserve, and through the fractional reserve banking system, is crucial in determining how the market assesses the relationship of the dollar and gold. Though there’s a strong correlation, it’s not instantaneous or perfectly predictable. There are many variables to consider, but in the long term the dollar price of gold represents past inflation of the money supply. Equally important, it represents the anticipation of how much new money will be created in the future. This introduces the factor of trust and confidence in our monetary authorities and our politicians. And these days the American people are casting a vote of “no confidence” in this regard, and for good reasons.

The incentive for central bankers to create new money out of thin air is twofold. One is to practice central economic planning through the manipulation of interest rates. The second is to monetize the escalating federal debt politicians create and thrive on.

Today no one in Washington believes for a minute that runaway deficits are going to be curtailed. In March alone, the federal government created an historic $85 billion deficit. The current supplemental bill going through Congress has grown from $92 billion to over $106 billion, and everyone knows it will not draw President Bush’s first veto. Most knowledgeable people therefore assume that inflation of the money supply is not only going to continue, but accelerate. This anticipation, plus the fact that many new dollars have been created over the past 15 years that have not yet been fully discounted, guarantees the further depreciation of the dollar in terms of gold.

Purchasing Power - a little poem by Steve Dore

You bought a house in '92, you paid 100k,
What do you think it might cost you now, in dollars of today,
For the record, the price you'd pay is greater than you might think,
Add a hundred thousand bucks, and throw in the kitchen sink

You gotta be makin' twice as much, to see just half the gain,
Don't forget, now, to figure in, that hidden part of this game,
Not to worry, if you can earn more and more from here,
Enough to balance out the cost, inflation takes each year

300 now, from 200 then, what might it be tomorrow,
Purchase power goes down the drain,
No wonder we all got to borrow,
Purchase power, purchase power, losing more each day,
A little bit here, a little more there,
Inflation steals it away

Nobody ever wants to see, their money disappear,
Losing purchase power, is something we all should fear,
History has a lesson, that's gonna be learned again,
Inflation steals you blind, while gold becomes your friend

It's not the metal that's goin' up, it's the dollar goin' down,
Printing presses print away, but no store of value's found,
Over the years, as paper fails, as it will always do,
Gold endures the test of time, pure wealth, tried and true

Got Gold? I have been warning the visitors to this site (and everyone that I know) for over a year that they better get some gold...

The 1st time I posted on gold was on January 24th, 2005 when gold was trading at ~$427

http://involuntaryservant.blogspot.com/2005/01/interesting-quote-on-gold-from.html

Did you listen?

The 2nd time that I posted on Gold was on March 4th 2005 when gold was trading at ~ $434

http://involuntaryservant.blogspot.com/2005/03/western-banks-rigged-gold-market-study.html

Did you listen?

The 3rd time that I posted on Gold was on Sept. 14th, 2005 when Gold was trading at ~$450

http://involuntaryservant.blogspot.com/2005/09/barbarous-relic-its-not-what-you-think.html

Did you listen?

The 4th time I posted on Gold was on Nov. 14th when Gold was trading at ~ $469

http://involuntaryservant.blogspot.com/2005/11/federal-reserve-discontinues.html

Did you listen?

The 5th time I posted on Gold was on February 1st when Gold was trading at ~$565

http://involuntaryservant.blogspot.com/2006/02/go-gata-and-start-hoarding.html

Did you listen?

The 6th time I posted on Gold was Feb. 9th, 06 when Gold was trading at ~$560

http://involuntaryservant.blogspot.com/2006/02/open-letter-to-bill-murphy-of-gata-for.html

Did you listen?

The 7th time I posted on Gold was on Feb. 25th when Gold was trading at ~$554

http://involuntaryservant.blogspot.com/2006/02/gold-and-silver-is-going-to-moon.html

Did you listen?

The 8th time I posted on Gold was on March 6th, 06 when Gold was trading at ~$565

http://involuntaryservant.blogspot.com/2006/03/us-government-weeks-from-defaulting-on.html

Did you listen?

Today Gold hit $725.90 (which actually means that the purchasing power of crappy assed US Dollar dropped even further to where it now takes $725.90 to buy a single ounce of Gold).

Thanks for stopping by the site!

Etienne

PS The reason your money is going down the drain is the Federal Reserve is a private criminal organization that lobbied/bribed Congress in 1913 to give it an unconstituional monopoly over the issuance of money and credit in the US. They have used this monopoly to personally enrich themselves at your expense to the tune of TRILLIONS of dollars over the years the proceeds of which they have used to buy outright 99% of the politicians, think tanks, foundations, and MainStreamMedia to ensure that none of them ever tell you about it.

Since they have now looted essentially all the value out of the country and because the Internet is starting to open peoples eyes to what has been going on they are going to crash the dollar so you won't have any resources to do anything about it. They are going to chew up the army in Iraq so they can't protect us when the truch comes out and they are setting up a police state and surveillance society to control us like the slaves we have become when the whole thing comes crashing down. When it happens remember where you heard it first.

You can go back to watching TV now... I think American Idol is on...

Starve the Beast!- SHORT, MUST WATCH VIDEO

Click on the image above or Here.

Another phat multimedia assault against the war machine!

Watch the flash... then watch the trailerhere: http://theaters.sirnosir.com/modinput4.php?modin=50

And then pass this along to your peeps in the machine so we can stop this killing NOW!!

Etienne

Row of Explosives Going Off in the North Tower

Texas Style Shit Sandwiches

Now that I've got everyone's attention... Let me tell you what I really think of the First Family...

Click the image above or Here to see Stephen Colbert and Jon Stewart rip both George and Laura Bush unmercilessly on the first episode of the Daily Show following the White House Correspondent's Dinner Last Year.

Stephen Colbert Rips Bush a New Asshole to His Face!!

Click the Image above or Here to watch the video

Here is a Blog with some snaps and commentary: http://sfgate.com/cgi-bin/blogs/sfgate/detail?blogid=3&entry_id=4791

Bush glowered. Laura looked confused. Scott McClellan was like a dead deer caught in the headlights. Many of the journalists, celebs, ranking generals and other 'notables' at the annual White House Correspondents' Dinner laughed openly, albeit uncomfortably, as Stephen Colbert of "The Colbert Report" just made himself about 500 times more of a national treasure and cemented himself as one of the most fearless satirists of this generation (instantly outpacing Jon Stewart, who, you get the feeling, wouldn't have had the nerve to go as far as Colbert did) by way of a savage and hilarious roast/takedown of President Bush, who was seated not eight feet away.

Have you heard? Did you see? You simply must. It was a revelation.

Even better than skewering that imbecile Bush who seemed like he couldn't tell if everyone was laughing at him about 50% of the time was bitch-slap Colbert gave the White House Press Corp! They TYPE! (and spell check!) classic... Etienne

The Discourse of Voluntary Servitude by Etienne de La Boetie

The complete text to the original Etienne de La Boetie's masterwork: The Discourse of Voluntary Servitude can be found Here: http://www.mises.org/rothbard/boetie.pdf

Excerpts:

It is incredible how as soon as a people becomes subject, it promptly falls into such complete forgetfulness of its freedom that it can hardly be roused to the point of regaining it, obeying so easily and so willingly that one is led to say, on beholding such a situation, that this people has not so much lost its liberty as won its enslavement. It is true that in the beginning men submit under constraint and by force; but those who come after them obey without regret and perform willingly what their predecessors had done because they had to. This is why men born under the yoke and then nourished and reared in slavery are content, without further effort, to live in their native circumstance, unaware of any other state or right, and considering as quite natural the condition into which they were born. There is, however, no heir so spendthrift or indifferent that he does not sometimes scan the account books of his father in order to see if he is enjoying all the privileges of his legacy or whether, perchance, his rights and those of his predecessor have not been encroached upon. Nevertheless it is clear enough that the powerful influence of custom is in no respect more compelling than in this, namely, habituation to subjection. It is said that Mithridates trained himself to drink poison. Like him we learn to swallow, and not to find bitter, the venom of servitude. It cannot be denied that nature is influential in shaping us to her will and making us reveal our rich or meager endowment; yet it must be admitted that she has less power over us than custom, for the reason that native endowment, no matter how good, is dissipated unless encouraged, whereas environment always shapes us in its own way, whatever that may be, in spite of nature's gifts. …

…I am of the opinion that one should pity those who, at birth, arrive with the yoke upon their necks. We should exonerate and forgive them, since they have not seen even the shadow of liberty, and, being quite unaware of it, cannot perceive the evil endured through their own slavery. It is truly the nature of man to be free and to wish to be so, yet his character is such that he instinctively follows the tendencies that his training gives him.

Let us therefore admit that all those things to which he is trained and accustomed seem natural to man and that only that is truly native to him which he receives with his primitive, untrained individuality. Thus custom becomes the first reason for voluntary servitude. Men are like handsome racehorses who first bite the bit and later like it, and rearing under the saddle a while soon learn to enjoy displaying their harness and prance proudly beneath their trappings. Similarly men will grow accustomed to the idea that they have always been in subjection, that their fathers lived in the same way; they will think that they are obliged to suffer this evil, and will persuade themselves by example and imitation of others, finally investing those who order them around with proprietary rights, based on the idea that it has always been that way.

There are always a few, better endowed than others, who feel the weight of the yoke and cannot restrain themselves from attempting to shake it off: these are the men who never become tamed under subjection. These are in fact the men who, possessed of clear minds and far-sighted spirit, are not satisfied, like the brutish mass, to see only what is at their feet, but rather look about them, behind and before, and even recall the things of the past in order to judge those of the future, and compare both with their present condition. These are the ones who, having good minds of their own, have further trained them by study and learning. Even if liberty had entirely perished from the earth, such men would invent it. For them slavery has no satisfactions, no matter how well disguised.

Dollar falls as Sweden slashes holdings in half

Complete Financial Times Story Here.

Excerpts:

The US dollar fell against the euro in European morning trade on Friday as Sweden’s central bank said it had slashed its dollar holdings almost in half.

The Riksbank revealed that it had cut the proportion of dollars in its reserves from 37 to 20 per cent, as well as selling off all its holdings of yen, which previously amounted to 8 per cent of its reserves.

The central bank balanced these disposals by increasing its holdings of euros from 37 to 50 per cent, as well as building a new Norwegian krone position of 10 per cent.

Although Sweden’s reserves are small, at around $21bn, and the Riksbank said its re-weighting was complete, the news thrust the ongoing issue of potential central bank diversification out of the dollar back into the limelight.

“Today’s announcement will merely add to market fears that the end to the Federal Reserve tightening cycle will encourage more diversification away from the dollar, and into the most liquid alternative of the euro,” said Chris Turner, head of FX strategy research at ING Financial Markets, who reiterated its view that the euro will return to $1.35 by the end of the year.

The dollar slipped 0.2c to $1.2334 against the euro, Y0.15 to Y117.31 against the yen and 0.3c to $1.7811 versus sterling.

Another country diversifies away from the dollar. This is going to be bad. Remember where you heard it first. - Etienne

Bill Maher's Advice to George W. Bush

"Mr. President, this job can't be fun for you anymore. There's no more money to spend--you used up all of that. You can't start another war because you used up the Army. And now, darn the luck, the rest of your term has become the Bush family nightmare: helping poor people.

Listen to your mom. The cupboard's bare, the credit cards' maxed out. No one's speaking to you: Mission accomplished.

"Now it's time to do what you've always done best: lose interest and walk away. Like you did with your military service and the oil company and the baseball team. It's time. Time to move on and try the next fantasy job. How about cowboy or space man?

"Now I know what you're saying. There're so many other things that you as President could involve yourself in. Please don't. I know, I know. There's a lot left to do. There's a war with Venezuela. Eliminating the sales tax on yachts. Turning the space program over to the church. And Social Security to Fannie Mae. Giving embryos the vote.

"But, Sir, none of that is going to happen now. Why? Because you govern like Billy Joel drives. You've performed so poorly! I'm surprised that you haven't given yourself a medal. You're a catastrophe that walks like a man. Herbert Hoover was a shitty president, but even he never conceded an entire city to rising water and snakes.

"On your watch, we've lost almost all of our allies, the surplus, four airliners, two trade centers, a piece of the Pentagon and the City of New Orleans. Maybe you're just not lucky.

I'm not saying you don't love this country. I'm just wondering how much worse it could be if you were on the other side.

"So, yes, God does speak to you. What He is saying is, 'Take a hint.'"

Fischer vows to "spend every ounce" in defense of the "faith-based" US Dollar

DALLAS, April 11 (Reuters) - The Federal Reserve will do what it takes to maintain its credibility, which is central to preserving the integrity of the U.S. dollar, Dallas Federal Reserve Bank President Richard Fisher said on Tuesday.

Alluding to the Fed's dual role of ensuring inflation doesn't "raise its ugly head" while still promoting the fastest possible noninflationary growth, Fisher said, "We seek to get it right. And the answer to your question is we will do what gets it right."

The Fed has raised interest rates in 15 consecutive quarter percentage point steps to 4.75 percent and warned that further policy firming may be needed -- language that financial markets bet means that rates will reach 5 percent by mid-year.

Answering audience questions after a speech to the Dallas Friday Group, Fisher said the U.S. dollar is a "faith-based currency" dependent on the credibility of a central bank.

"In addition to a faith-based currency, we are the currency of the world and we must maintain its integrity. As far as my involvement is concerned, I will spend every ounce of energy doing that. I have no doubt that my colleagues will do exactly the same," Fisher said.

Looking over Fisher's Resume it appears that the Federal Reserve Board Member from Brown Brothers Harriman is part of the problem at the Central Bank. Jimmy Carter Economic Advisor, Kissenger Partner, NAFTA negotiator, loose-liped clown. I thought these guys were supposed to be subtle when they spoke? I can't wait until these guys are doing the perp walk on CNN trying to explain away their Enron-style market manipulations and "faith-based currency" to a pissed-off American public. - Etienne

Dr. Steven Jones Fingers Thermite as the Explosive Used to bring down the Twin Towers and WTC7

Find the complete article Here: http://deseretnews.com/dn/view/0,1249,635198488,00.html

Excerpts:

EPHRAIM — A Brigham Young University physicist said he now believes an incendiary substance called thermite, bolstered by sulfur, was used to generate exceptionally hot fires at the World Trade Center on 9/11, causing the structural steel to fail and the buildings to collapse.
"It looks like thermite with sulfur added, which really is a very clever idea," Steven Jones, professor of physics at BYU, told a meeting of the Utah Academy of Science, Arts and Letters at Snow College Friday.
The government requires standard explosives to contain tag elements enabling them to be traced back to their manufacturers. But no tags are required in aluminum and iron oxide, the materials used to make thermite, he said. Nor, he said, are tags required in sulfur.
Jones is co-chairman, with James H. Fetzer, a distinguished professor of philosophy at the University of Minnesota of Scholars for 9/11 Truth, a group of college faculty members who believe conspirators other than pilots of the planes were directly involved in bringing down New York's Trade Towers.
The group, which Jones said has 200 members, maintains a Web site at www.st911.org. A 40-page paper by Jones, along with other peer-reviewed and non-reviewed academic papers, are posted on the site.
Last year, Jones presented various arguments for his theory that explosives or incendiary devices were planted in the Trade Towers, and in WTC 7, a smaller building in the Trade Center complex, and that those materials, not planes crashing into the buildings, caused the buildings to collapse.
At that time, he mentioned thermite as the possible explosive or incendiary agent. But Friday, he said he is increasingly convinced that thermite and sulfur were the root causes of the 9/11 disaster.
He told college professors and graduate students from throughout Utah gathered for the academy meeting that while almost no fire, even one ignited by jet fuel, can cause structural steel to fail, the combination of thermite and sulfur "slices through steel like a hot knife through butter."
He ticked off several pieces of evidence for his thermite fire theory:
First, he said, video showed a yellow, molten substance splashing off the side of the south Trade Tower about 50 minutes after an airplane hit it and a few minutes before it collapsed. Government investigators ruled out the possibility of melting steel being the source of the material because of the unlikelihood of steel melting. The investigators said the molten material must have been aluminum from the plane.
But, said Jones, molten aluminum is silvery. It never turns yellow. The substance observed in the videos "just isn't aluminum," he said. But, he said, thermite can cause steel to melt and become yellowish.
Second, he cited video pictures showing white ash rising from the south tower near the dripping, liquefied metal. When thermite burns, Jones said, it releases aluminum-oxide ash. The presence of both yellow-white molten iron and aluminum oxide ash "are signature characteristics of a thermite reaction," he said.
Another item of evidence, Jones said, is the fact that sulfur traces were found in structural steel recovered from the Trade Towers. Jones quoted the New York Times as saying sulfidization in the recovered steel was "perhaps the deepest mystery uncovered in the (official) investigation." But, he said, sulfidization fits the theory that sulfur was combined with thermite to make the thermite burn even hotter than it ordinarily would.
Jones said a piece of building wreckage had a gray substance on the outside that at one point had obviously been a dripping molten metal or liquid. He said that after thermite turns steel or iron into a molten form, and the metal hardens, it is gray.
He added that pools of molten metal were found beneath both trade towers and the 47-story WTC 7. That fact, he said, was never discussed in official investigation reports.

Dr. Stephen Jones' PowerPoint Slide Deck on the Collapse:
http://www.checktheevidence.com/911/February1bFinal.swf

WhatReallyHappened.com's Evidence of Thermite Page:
http://www.whatreallyhappened.com/thermite.htm

911Research.com's Metallurgy Page:
http://911research.wtc7.net/wtc/evidence/metallurgy/index.html

Smartest Corporate Officers I Have Seen In Years

Two St. Louis companies move to hold cash reserves in physical silver rather than fiat paper dollars.

St. Louis, MO, April, 3, 2006 – Holt & Shapard Capital Management in conjunction with Missouri Coin Company purchased approximately 20,000 ounces of silver, with a market value of over $225,000, on Friday, April 1. “Silver continues to embark on a long term secular bull market with many years to go,” says Portfolio Manager Wistar Holt. This move allows both companies to benefit from the secular bull market in precious metals while avoiding the debasement of the US dollar due to the massive budget and trade deficits. These deficits force the government to print massive amounts of dollars causing inflation.

Holt & Shapard Capital Management, an investment advisor registered with the SEC, has placed clients’ assets in precious metals mining companies since January 2001. Since then, the precious metals mining sector has been the top performing sector in the entire market 4 of the 5 years and according to the Wall Street Journal, was the top performing sector for the 1st quarter of 2006 with a 52.2% appreciation.

Missouri Coin Company, Inc., is a coin and precious metals dealer whose owner, Dennis McCormick, has been a professional numismatist for over 20 years.

With an exploding and now hidden M3 I think that any corporate officers that aren't moving to protect their retained earnings against inflation with precious metals are negligent in their fiduciary responsibility. Kudos to Wistar Holt and Charles Shapard: Trendsetters! - Etienne

David Walker, US Comptroller of the Currency Predicts Economic Disaster for the US

Here is a Reuters Story that can be found Here.

LONDON, March 14 (Reuters) - The United States is headed for a financial crisis unless it alters its course of racking up big budget deficits year after year, Comptroller General David Walker told a British audience on Tuesday.

"If we continue on our present course, a fiscal crisis is only a matter of time," Walker said in the course of an address to the London School of Economics in which he stressed the need for the United States to get its fiscal house in order.

The comptroller general acts as the nation's chief accountability officer and is the head of the U.S. Government Accountability Office, or GAO.

Walker said some combination of reforming so-called entitlement spending like that for health care and Social Security, curbing discretionary spending and possibly changes in tax policy likely will be needed to get deficits under control.

Even then, it will take a considerable period of time and strong political leadership to correct the current situation.

"I think it's going to take 20-plus years before we are ultimately on a prudent and sustainable path," Walker said, partly because so many American consumers take their example from the government.

"Too many Americans are following the lead of the federal government, they are spending more than they take in and are running up debt at record rates," Walker said.

The BBC's Stephen Sackur talks to America's Auditor -in-Chief, David Walker in a video interview that can be found Here.

Does this Controlled Demolition Look Familiar??

Clicking on the picture above or this link will take you to a video of the controlled demolition of the Landmark Tower in Fort Worth, Texas. The building at one time was the tallest skyscraper in that city. Does the controlled demolition of the Landmark Tower remind you of any other controlled demolitions that you might have witnessed?


WTC7 : The Smoking Gun

Our Worst Nightmare: The Puncture of the Current U.S. Housing Bubble

Complete article found Here.

Excerpts:

TORONTO (PreciousMetalsWarrants) -- The key to holding up the entire speculative U.S. financial system with its current excessive levels of debt - federal (current account and trade), state, municipal, corporate and household - is maintaining the U.S. housing bubble. Anything less would result in America’s worst nightmare and, in short order, the entire world.

The housing market is dominated by Fannie Mae and Freddie Mac who hold 75% of all outstanding home mortgages (and the Federal Home Loan Bank Board to a much lesser extent). One too many additional increases in the Fed rate may well turn out to be the U.S. economy's Achilles' heel and lead to a major crisis at these two institutions generating an out-of-control systemic breakdown situation and disastrous financial implosion...

Here's why. Fannie’s and Freddie's (FF) original functions were to provide liquidity to the housing market. After a mortgage lending institution (MLI) originated a mortgage – say, $100,000 – FF would purchase that mortgage from the MLI for a fee and hold the mortgage to maturity. The MLI now had $100,000 to make yet another mortgage loan and earn yet another fee. By the repeating of this process FF injected liquidity into the housing market making it possible for MLIs to increase the number of mortgage loans they could make each year and earn considerably more fees in the process...

...The above-mentioned obligations of FF total over $5 trillion. Another $1 trillion in obligations are held by the Federal Home Loan Bank Board and private issuers of MBS. These $6 trillion in risky obligations are distinct from, and in addition to, the more than $6 trillion in mortgages themselves. As such, a total in excess of $12 trillion is laden on to the homes and attached to to the incomes of America's homeowners. And then there is credit card debt, car lease debt, cell phone contract debt, bank loan debts, margin debt, etc!...

...FF assets have expanded so rapidly over the past few years due to the number of mortgages, the escalating value of mortgages (as a result of escalating real estate prices) and the refinancing of mortgages and they have so much debt in the form of mortgages, bonds, MBS’s and derivatives that should they encounter any problems servicing the debt it most likely will have a destabilizing effect on the U.S. economy.

Indeed, the Fed are so concerned about this happening they are flooding the economy with almost limitless liquidity. There must be a crisis of historic proportions coming, and the Federal Reserve Bank of the United States is making sure that there is enough liquidity in place to protect our nation's fragile financial system. The amazing thing is that the Fed's actions mean they know what is about to happen.

The complete article is a must-read for anyone interested in understanding how the morgage industry, lead by Fannie Mae and Freddie Mac, has contributed to the wobbly house o' cards built on ARMs, No interest morgages, and other speculative loans to marginal buyers that will walk away from their obligations in a heartbeat as interest rates continue to rise as the economy continues to tank. The article's only deficit is not addresing the aspects of speculation and overbuilding that are compounding the problem by flooding the market with excess capacity that will contribute dramatically to the coming crash. - Etienne