America Is Running Out Of Rope

…The dollar is in the toilet and threatening to break all support levels. If it does, it may collapse to as low as 40, which will in turn rocket oil north to $300 or more and gasoline to $10!

If that happens it is too late to stop it and too late to reverse course. What we now know as a middle class will be reduced to sheer destitution – literal destitution.

…Over a year ago I started writing and calling Congress, including letters I faxed to all 535 members. In it I called for Congress to put aside $200 billion dollars – a big fat wad of money – to cover the potential need to house, feed and clothe one quarter of this nation for up to 12 months.

I meant it then and I mean it now.

We are not on the cusp of recovery, we are on the precipice of disaster. Whether we avert it is an open question but this much is certain – if we wait until external funding disappears it will be too late to prepare and too late to act in furtherance of our nation’s interests. When gasoline is $10/gallon as is heating oil the price of food will more than double, heating costs in the northeast will quadruple and millions will either starve, freeze to death or both. At the same time the ability to fund Social Security and Medicare will vanish – at the precise moment when it can’t.

The economy cannot survive another commodity shock – Roubini agrees, and he sees the possibility – but he calls the potential cause “speculation.”

Nonsense: there is nothing speculative about money printing and intentional currency debasement. This is an intentional act being promulgated by our government for the express purpose of papering over what has been the largest fraud and scam ever run in the history of mankind. The banks are indeed using this “profit opportunity” to buy and stockpile oil along with other commodities via both physical delivery and futures contracts, but this is not speculation – a bet made on an uncertain outcome.

Rather, it is a bet made on a CERTAIN outcome that is being created by the government as a DIRECT CONSEQUENCE of the demand (which was and is being met!) by the very same banksters to legalize the fraud and deceit that got us in this mess in the first place!

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