Prof Lewis, the $700B has got me thinking hyperinflation. It doesn’t seem plausible to pour that much $ into our economy without having some serious upward pressure on our inflation rates. They announced today that the Gold reserve was no longer issuing gold bullion coins as there is a depletion from the increased demand. This also supports my idea that inflation will be the worst factor to be included in this messy equation. I read another post today I thought you might find interesting, n my view, the U.S. needs to face the harsh reality that with:
• its cumulative National Debt and current fiscal budget deficit levels;
• its loss in manufacturing jobs;
• an over-extended consumer base; and,
• its enormous and ‘each month growing’ trade deficits (which at the end of August stood at an approximate cumulative U.S.$6.9 trillion, increasing at a rate of approximately U.S.$60 billion each month) it is now, and will increasingly become, dependant on its trading partners.
http://www.stockresearchportalblog.com/2008/09/update-desperate-people-do-desperate-things/#more-499
My question is are we to fear being too overly dependent, and if you do eventually succumb to being reliant at the teat of other countries will this be our major downfall, or are we able to recover in the near future?

By Louis J. Jean-Louis

Wake Up, U.S., Before It’s Too Late!

While millions of our citizens, including the Executive, the Legislative and Judicial branches of our government, are sleeping—in figurative sense—momentous financial decisions with unprecedented ramifications are being made by the powers that be to relegate the U.S. into a mediocre economic power, thus paving the way for a one-world government. The powers that be are none other but the Federal Reserve System, the Trilateral Commission and the Council of Foreign Relations (CPR).

However, the Federal Reserve System, with its approximately 300 shareholders and banks, constitutes the most insidious threat to the economic security and vital interest of the U.S. They exercise absolute power over Congress itself, over the president, the courts, the banking system, Wall Street, the media and all other institutions in this country. In short, armed with its Congressional backing to coin money, the Feds, its Chairman and 12 Governors are the de-facto government that controls our economic, our political and military affairs.

According to Article 1, Section 8 of the U.S. Constitution, Congress shall have the power to coin money and regulate the value thereof. The power to coin or print money and regulate its value, however, was delegated to the Federal Reserve in 1913. Operating under Executive and Congressional approval since then, this quasi-governmental institution has been using this power unscrupulously for the selfish gains of its shareholders.

The Feds use the U.S. Treasury Department to print money at the expense of the taxpayers; lend the money to the U.S. Government, to banks and other financial institutions; charge them billions of dollars in interest annually; and commission the IRS to collect trillions of dollars in income tax from the taxpayers. Yet they themselves pay no income tax on the interest collected. They operate under Congressional approval. Yet they are not under Congressional oversight. Numerous attempts over the years to enact laws to require accountability from these powerful people have been futile. While most of our citizens think the Chairman and his 12 Governors are part of the U.S. Government, they are actually part of a private corporation that promotes the interests of its shareholders. Consequently, the Executive Branch, under the president, and the Congressional Branch, under the Senate and the House of Representatives, have never seen their books. They operate in the U.S. Yet they are not subject U.S. laws.

In fact, the U.S. Government owes them more than $9, 000, 000, 000, 000.00 (Nine trillion dollars), which is the National Debt: a debt that accrues interest annually. And as you continue to watch the unfolding of the mortgage crisis, the defaulting of some of the major financial institutions of the world and the continuing credit crunch, President George W. Bush, the Congressional leaders and presidential contenders John McCain and Barack Obama have absolutely no clue what is really happening…Let alone what to do to solve the problem.
Moreover, the solution proposed by President Bush in his nationally televised speech of September 24, 2008, was to borrow an additional $700, 000, 000, 000.00 from the Feds to bail out the banks—a decision which is tantamount to putting a second story on a building that is standing on an already shaky foundation. I opine that such sum of money should be used to bail out homeowners who are facing foreclosures while the banks should be buried in the proverbial hole they had been digging for the taxpayers for nearly a century.
Is there anything that we as individuals may do to reverse the collapse of the present economic system, thus preventing these international bankers from succeeding in their ultimate goal of marginalizing this country into a mediocre economic power so as to establish a one-world government? Unfortunately, while a countless number of people are advocating a series of measures—from an armed revolt reminiscent of the Revolutionary War in the 1700s to refusing to pay income tax and demonstrating en masse around the country—all these tactics will in the long run be proven to be counterproductive in preventing the quest to rule the world. As a matter of fact, any preventative measure undertaken to prevent the formulation of the New World Order may be too little too late to have any significant, preventative effect.

Evidently, Congress and the president lack the will, the power and intestinal fortitude to abolish the Federal Reserve System, thus ending this fraud of epic proportion that has been perpetrated on the taxpayers for approximately 85 years. The only alternative then is for the people to appeal to the legislatures of two-thirds of the states to call for a convention at which constitutional amendments can be proposed. Amendments proposed by the convention, however, would require ratification by the legislatures of three-fourths of the states. Congress often limits to seven years the period for ratification by the states; therefore, this process is time-consuming and costly.
Meanwhile, concerned citizens of all walks of life and political persuasions must do whatever possible to forewarn the people of the result of indifference, including the impending economic collapse, the ensuing social woes and, ultimately, anarchy: The breakdown of law and order in our society.

And, above all, unless we as a nation return to the Judeo-Christian principles upon which this nation was built and wake up before long, the ultimate disaster, the nuclear holocaust and other future catastrophic events are too severe phenomena to describe in this writing. However, any interested reader may contact me directly via e-mail at JL4JC2@aol.com for additional information.

Meanwhile, I strongly urge the citizens of this nation, including Congress, the president and the courts to wake up before it’s too late!

Louis J. Jean-Louis is a Pastor in Riverside, California, and a Graduate of the School of Journalism of San Jose State University.