Respected economist John Williams, editor of ShadowStats.com, a popular website that tracks real inflation figures, is advising that people hoard physical gold as well as food items in bulk so that they have some means with which to barter as the economic crisis turns ugly.
“Three or four years into the future I think we could be in a hyperinflation, within the current year you’re going to see much higher inflation than most people are looking at,” Williams told MarketWatch.
Williams said that his definition of hyperinflation would be a situation in which a $100 dollar bill would become more functional as a piece of toilet paper than a store of value. …
At least as far back as April 2008, six months before the collapse of Lehman Brothers and Bear Stearns, Williams predicted that the world economy was entering a phase of “hyperinflationary depression” that would peak in 2010.
In a hyperinflation special report, Williams said that the U.S. was on an irreversible course of “financial armageddon” that would likely lead to “extreme political change and/or civil unrest”.
In an interview with Sir David Frost on Al Jazeera television, veteran investor Jim Rogers pinned the blame for the economic crisis squarely at the feet of the Federal Reserve, and said that the World Bank and the IMF should be abolished, not given more power, if a recovery is to be made.
Rogers strongly slammed Obama’s stimulus package, pointing out that more good money was being thrown after bad, and that the bailouts were only making things worse. The veteran investor said that the U.S. was following the same disastrous policies as Japan in propping up companies that should be allowed to fail, and that the same consequences would be reaped as much as 20 years into the future.
“The way the system is supposed to work, when times like this come, the solid people, the competent people, take over the assets from the incompetent people and then you start over again from a sound base, this is what South Korea did, this is what Russia did, and they did fine. What they’re doing this time is they’re taking the assets away from the competent people and giving them to the incompetent people and saying now you compete with the competent people with their assets and their money- it’s terrible economics and [it is horrible morality—not that politicians care about morality—but- ed.] it’s not going to work, it hasn’t worked before and it’s not going to work this time,” said Rogers.
Rogers said that price had to be paid for 15 years of excess, but that the crisis could have been overcome in two or three years had zombie companies and banks been allowed to go to the wall.
“The central bank in the United States, the Federal Reserve, would not let people fail,” said Rogers, pointing out that had former Fed chairman Alan Greenspan let Long Term Capital Management fail in 1998, both Bear Stearns, Fannie Mae and Lehman Brothers would still be in business, “because people would have taken such a hit, and so many people would have been fired, these bozos that were doing this sort of thing, that you would not have had these problems.”
“The way the system is supposed to work is when you make a mistake you go broke, he refused to let people go broke, he saved his friends and now we’re all having to pay for them,” added Rogers.
Asked if he had any respect for the World Bank and the IMF, Rogers responded, “Zero….the best thing that would happen would be if we could abolish the World Bank and the IMF, they were set up in 1945 and ‘46 with very sound goals and very sound aspirations – they have far far far left behind those aspirations and goals, they’re now run by people who do little more than take care of themselves….look at their projects and you would be mortified.”
In response to a question about what if any sectors would be profitable amidst the crash, Rogers advised people invested in stocks to “get yourself a tractor and learn how to farm”.
Check out Ed Grimsley’s aerial video footage, captured through night vision.
…….
Thursday February 12th, 2009
Recap
UFO Wars
Appearing during the middle half of the show, UFO researcher Ed Grimsley spoke about his observations of spacecraft, some of which appear to be conducting wars. As a teen in 1961, he said he first saw UFOs firing at each other in the night skies, while he was staying at a campsite. Years later, he sought out night vision equipment to look for UFOs– he currently uses 3rd generation military-grade PV7 night vision goggles (estimated cost between $3000-$4000).
Grimsley reported seeing crafts of different shapes and sizes, and estimated that some of the vehicles were hundreds of miles out in space. One craft, he said, was moving at around 5,000 mph and traversed through a blue crystalline tube, an energy field that it projected in front of itself. In describing battles between ships, he said they fire laser beams or ball energy on each other, and the weapons seem to travel 3-4 times faster than what he first observed in 1961.
Alternative media activist Alex Jones and author Jerome Corsi will discuss steps some states are taking to preserve sovereignty and personal freedoms which include gun ownership, gold & silver ownership, & home schooling.
Transcribed by Jeff Fenske from Dr. Bill Deagle’s Nutrimedical Report, 2/9/09
“The people that are going to survive
this Greatest Depression
are going to be healthy:
physically, emotionally, spiritually,
as well as financially.”
- Gerald Celente
.
…..
.
“I don’t have to tell you the health of this nation.
You look back at photos of people during the Great Depression. They weren’t riding around at Wal-Marts on these electric carts to get around.
They were self-sufficient, and they were in much better shape, physically, emotionally and spiritually. There was more of whole-health healing going on back then than there is now.”
Transcribed by Jeff Fenske from: Tom Woods and Burton Folsom on Glenn Beck “Meltdown” 02/09/2009
Thomas Woods:
“There’s the case of the Great Depression of 1920, which no one’s ever heard of, because the government at that time didn’t do anything to try to get us out of it. They did the exact opposite of what every Keynesian blockhead, today, tells us to do. …
Here you have a depression that was worse in its first year than the first year of the depression of ’29, and yet, in no time the country was back on its feet, setting production records once again. All the bad malinvestments of the preceding boom were all cleared out, and you had a robust recovery.
Whereas in 1929 and thereafter, what did you have? Tinker, tinker, tinker, year after year after year. And regardless of the fact that in the media you hear, even today, that: ‘Herbert Hoover sat back and did nothing during the Great Depression.’ If only he had! Everything he did made it worse, so that in 1932, when F.D.R. was running against him, his Vice Presidential nominee actually said: ‘Hoover is leading the country down the road to socialism.’ Everybody knew he was intervening. And so year after year after year, the depression persists. You’ve got double-digit unemployment.
Maybe there’s a lesson here. The one time the government said, in American history, ‘we’re going to roll up our sleeves and solve this thing,’ the thing would not go away. They would not allow the recovery to take place.
[…]
If we [had] let the market set interest rates, you don’t have these crazy asset bubbles.”
Glenn Beck:
“When I read things like both of your gentleman’s books…. I read the history of this country. Woodrow Wilson was a nightmare. F.D.R. not anything like what I thought he was, and what’s being taught at school. Burton, why are we not taught the truth?“
Burton Folsom:
“Historians are committed that you need to centralize power in Washington.”
