Mystery Bee Disappearances Sweeping U.S.

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( Commentary from the Infinite Unknown:
There will be FOOD SHORTAGES very soon !!!

“If the bee disappeared off the surface of the globe then man would only have four years of life left. No more bees, no more pollination, no more plants, no more animals, no more man.” – Albert Einstein )

Without a trace, something is causing bees to vanish by the thousands. But a new task force hopes to finger the culprit and save the valuable crops that rely on the insects.

Pennsylvania beekeeper Dave Hackenberg was the first beekeeper to report to bee researchers what’s become known as colony collapse disorder (CCD).

In October Hackenberg had delivered honeybees to a Florida farm to pollinate crops. The bees typically return to their boxed hives when their work is done. But this time was different.”I came to pick up 400 bee colonies and the bees had just flat-out disappeared,” Hackenberg said. “There were no dead bees, no bees on the ground, just empty boxes.”

“In almost 50 years as a beekeeper, I’ve never seen anything like it.”

CCD has spread throughout 24 states and ruined hundreds of thousands of bee colonies.

Hackenberg has lost roughly 1,900 of his 2,900 hives. Other operators have lost up to 90 percent of their hives.

Read moreMystery Bee Disappearances Sweeping U.S.

Top Iraq contractor skirts US taxes offshore

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CAYMAN ISLANDS – Kellogg Brown & Root, the nation’s top Iraq war contractor and until last year a subsidiary of Halliburton Corp., has avoided paying hundreds of millions of dollars in federal Medicare and Social Security taxes by hiring workers through shell companies based in this tropical tax haven.More than 21,000 people working for KBR in Iraq – including about 10,500 Americans – are listed as employees of two companies that exist in a computer file on the fourth floor of a building on a palm-studded boulevard here in the Caribbean. Neither company has an office or phone number in the Cayman Islands.

The Defense Department has known since at least 2004 that KBR was avoiding taxes by declaring its American workers as employees of Cayman Islands shell companies, and officials said the move allowed KBR to perform the work more cheaply, saving Defense dollars.

Read moreTop Iraq contractor skirts US taxes offshore

‘Frankenfoods’ Giant Monsanto Plays Bully Over Consumer Labeling

Monsanto doesn’t want consumers to know the truth about the milk they’re drinking. The corporation’s monopoly is at stake.

“There are some corporations that clearly are operating at a level that are disastrous for the general public … And in fact I suppose one could argue that in many respects a corporation of that sort is the prototypical psychopath, at the corporate level instead of the individual level.”

–Dr. Robert Hare, The Corporation

Since 1901, Monsanto has brought us Agent Orange, PCBs, Terminator seeds and recombined milk, among other infamous products. But it’s currently obsessed with the milk, or, more importantly, the milk labels, particularly those that read “rBST-free” or “rBGH-free.” It’s not the “BST” or “BGH” that bothers them so much; after all, bovine somatrophin, also known as bovine growth hormone, isn’t exactly what the company is known for. Which is to say, it’s naturally occurring. No, the problem is the “r” denoting “recombined.” There’s nothing natural about it. In fact, the science is increasingly pointing to the possibility that recombined milk is — surprise! — not as good for you as the real thing.

“Consumption of dairy products from cows treated with rbGH raise a number of health issues,” explained Michael Hansen, a senior scientist for Consumers Union. “That includes increased antibiotic resistance, due to use of antibiotics to treat mastitis and other health problems, as well as increased levels of IGF-1, which has been linked to a range of cancers.”

Read more‘Frankenfoods’ Giant Monsanto Plays Bully Over Consumer Labeling

OPEC blames ‘mismanaged’ U.S. economy for soaring oil prices

OPEC, rebuffing calls from U.S. President George W. Bush to increase oil output, cited “mismanagement” of the American economy as a major factor driving prices up.Record prices are suddenly creating the sharpest tensions in years between the oil cartel and the United States, the world’s largest oil consumer. Two days after the president called for more oil on the global market, OPEC members, meeting in Vienna, Austria, chose to leave their production levels unchanged, declaring that the market has plenty of oil already.

The cartel’s president on Wednesday blamed financial speculators and American economic problems, which have helped lower the value of the dollar, for the high oil prices. After the meeting, oil prices settled above $104 a barrel, a record.

Bush, who had said this week it would be a mistake for the Organization of the Petroleum Exporting Countries not to raise production, was disappointed by the outcome of Wednesday’s meeting, according to the White House.

It is the second time this year that OPEC ignored public calls from the United States to boost supplies. In January, Bush traveled to Saudi Arabia and urged producers to open their taps. But the plea failed to sway OPEC. When the group met in February, it kept its production level unchanged.

Read moreOPEC blames ‘mismanaged’ U.S. economy for soaring oil prices

Lou Dobbs: U.S. Heading For Stagflation Crisis – CNN host slams Fed’s depreciation of dollar

CNN host Lou Dobbs says the U.S. economy is heading for a stagflation crisis as a result of the U.S. government’s policy of dollar depreciation and that the only solution is for the American people to restore a proper Constitutional system of government.Dobbs told The Alex Jones Show today that the decline of the dollar was, “a clear signal as to how much trouble this economy is in,” added to a 9 trillion dollar national debt and a 6 trillion dollar trade debt.

America’s dependence on cheap imported Chinese consumer electronics, clothes and toys was negating any elasticity that could be gained from the demand relationship with China on imports, meaning that the only conceivable benefit of a weak dollar – cheaper exports – was not even applicable, Dobbs explained.

“We have the specter of stagflation staring at us coldly and inevitably right now,” said Dobbs, adding, “There’s no doubt that those who would degrade the sovereignty of this country would want to certainly the power, the strength, and the respect of the U.S. dollar and it is the last thing we should permit.”

Stagflation is a macroeconomics term used to describe a period of inflation combined with stagnation, ie slow economic growth allied to a potential recession.

“We have to come to terms with the amount of debt that we have allowed the elites of this country to run up,” Dobbs concluded.

Read moreLou Dobbs: U.S. Heading For Stagflation Crisis – CNN host slams Fed’s depreciation of dollar

Foreclosures hit all-time high

Over 900,000 borrowers are losing their homes, up 71% from a year ago, and a record number of home owners are behind on payments.

NEW YORK (CNNMoney.com) — More home owners than ever are losing the battle to make their monthly mortgage payments.

Over 900,000 households are in the foreclosure process, up 71% from a year ago, according to a survey by the Mortgage Bankers Association. That figure represents 2.04% of all mortgages, the highest rate in the report’s quarterly, 36-year history.

Another 381,000 households, or 0.83% of borrowers, saw the foreclosure process started during the quarter, which was also a record.

Additionally, the number of mortgage borrowers who were over 30 days late on a payment in the last three months of 2007 is at its highest rate since 1985.

“Boy, that was ugly,” said Jared Bernstein, an Economic Policy Institute economist of the data.

“It’s another reminder that anyone who thought we had hit bottom was wrong. This was a huge bubble, and when a bubble of this magnitude breaks, it creates a huge mess,” he said.” It could take a lot longer for the correction to work through the system.”
Housing rescue: What you need to know

One reason it may take so long is that there seems to be no end in sight for falling home prices.

Read moreForeclosures hit all-time high

Gold futures rebound as dollar drops – METALS STOCKS

NEW YORK (MarketWatch) — Gold futures reversed earlier losses on Tuesday, as the dollar fell against major counterparts on bleak U.S. economic data, while traders reconsidered the importance of an expected sale of gold reserves by the International Monetary Fund.

Gold for April delivery gained $8.40 to end at $940.50 an ounce on the New York Mercantile Exchange.

Gold futures had fallen Monday after a senior Treasury official said the U.S. supports the proposed sale of part of the gold reserves held by the IMF.

“But there is an understanding that the IMF issue is minor at best,” said Brien Lundin, president at Jefferson Financial. “The sale still needs congressional approval, which remains doubtful, and the amount would be minor anyway.”

“In the past, IMF gold sales have typically marked a buying opportunity for people who had missed a rally,” Lundin said.

Read moreGold futures rebound as dollar drops – METALS STOCKS

Greenspan tells Gulf to drop dollar

Alan Greenspan, the former chairman of the US central bank, or Fed, has said that inflation rates in Gulf states, which are reaching near record levels, would fall “significantly” if oil producers dropped their US dollar pegs.

Speaking at an investment conference on Monday in Jedda, Saudi Arabia, he said the pegs restrict the region’s ability to control inflation by forcing them to duplicate US monetary policy at a time when the Fed is cutting rates to ward off an economic downturn.

Debate is rife in the Gulf on how to tackle inflation.

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Greenspan, right, says inflation rates in Gulf states will fall if they drop their US dollar pegs [AFP]

Read moreGreenspan tells Gulf to drop dollar

The Bush Bust of ’08: “It’s All Downhill From Here, Folks”

On January 14, 2008 the FDIC web site began posting the rules for reimbursing depositors in the event of a bank failure. The Federal Deposit Insurance Corporation (FDIC) is required to “determine the total insured amount for each depositor….as of the day of the failure” and return their money as quickly as possible. The agency is “modernizing its current business processes and procedures for determining deposit insurance coverage in the event of a failure of one of the largest insured depository institutions.” The implication is clear, the FDIC has begun the “death watch” on the many banks which are currently drowning in their own red ink. The problem for the FDIC is that it has never supervised a bank failure which exceeded 175,000 accounts. So the impending financial tsunami is likely to be a crash-course in crisis management. Today some of the larger banks have more than 50 million depositors, which will make the FDIC’s job nearly impossible. Good luck. – Mike Whitney

Read moreThe Bush Bust of ’08: “It’s All Downhill From Here, Folks”

Rove: Iraq Redeployment Would Cause Oil Prices To Skyrocket To $200 A Barrel

This morning on Fox News Sunday, former White House adviser Karl Rove claimed that redeployment from Iraq would cause oil prices to shoot to $200 a barrel:

If we were to give up Iraq with the third largest oil reserves in the world to the control of an Al Qaida regime or to the control of Iran, don’t you think $200 a barrel oil would have a cost to the American economy?

 

Occupying Iraq has hardly helped oil prices stay low. Last week, oil prices reached a record high of over $102 a barrel. On March 19, 2003 — the day the Iraq war commenced — oil was trading at $36 a barrel. A look at the rise in oil prices:

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None of this should have come as a surprise to the Bush administration; before the war, economists were widely predicting a prolonged presence in Iraq would lead to a rise in oil prices. As Nobel laureate Joseph Stiglitz recently noted in Vanity Fair, “The soaring price of oil is clearly related to the Iraq war. The issue is not whether to blame the war for this but simply how much to blame it.”

Rove is also out of step with the American people, a majority of whom believes that the Iraq war is tied to the current economic downturn. A recent AP poll found that 68 percent of Americans say that redeploying from Iraq would help the economy.

Digg It!

Transcript:

WALLACE: All right. But Obama has found a clever way to link the war in Iraq to our domestic problems with the economy here at home. Let’s watch.

(BEGIN VIDEO CLIP)

OBAMA: We are spending $12 billion per month. That is money that we could be spending here in the United States, rebuilding our infrastructure, building schools, sending kids to university.

(END VIDEO CLIP)

WALLACE: If he’s able to define Iraq in terms of where do you spend that $12 billion, on the battlefield over there or on infrastructure and social programs here, doesn’t Obama win?

ROVE: Well, Obama — it’s a good argument for Obama, but I’m wondering where it goes, because it really is a very neo-isolationist argument. It basically says, you know, We should not be involved in the world because of the consequences to the budget here at home.

Well, we were not involved in the world before 9/11, and look what happened. Look at the cost to the American economy after a terrorist attack on the homeland. We lost a million jobs in 90 days after 9/11.

If we were to give up Iraq with the third largest oil reserves in the world to the control of an Al Qaida regime or to the control of Iran, don’t you think $200 a barrel oil would have a cost to the American economy?

So you know, it’s a cute thing in a primary. I’m not certain over an 8-month general election that you can make the argument that we ought to take a look at every foreign policy commitment in the United States and measure it on the basis of the number of dollars that we’ve got there.

I happened to be in Los Angeles on Monday, and somebody had heard Obama say this to me, and they were Democrat, and at dinner they said,

I’m worried about that, because does that mean he’s going to be looking at our support, for example, for the state of Israel and looking at it in terms of what could we be doing at home with those dollars?

And it was a nice line, but I’m not certain how durable a line it necessarily is.

Source: thinkprogress.org

World stocks tumble on US recession fears

LONDON (AFP) – European equities dived on Monday after heavy falls earlier in Asia as markets were gripped by growing concern that the US economy was slipping into recession, dealers said.

Stock markets in Europe and the United States had sunk late last week following signs that the fallout from the US credit crisis was far from over.

In late morning European trade on Monday, Frankfurt, London and Paris stock markets chalked up fresh losses of about 1.5 percent.

Asian stocks plunged earlier Monday with Tokyo ending down almost 4.5 percent, Hong Kong tumbled 3.07 percent and Seoul gave up 2.3 percent. Singapore and Sydney both shed about 3.0 percent.

“Not a great start to the week with the UK following falls in the US Friday and Asia today,” said Mike Lenhoff, strategist at brokerage Brewin Dolphin.

“What matters most to investors is what is happening in the US. Investors view the US as in recession or going into recession which is not good news for corporate earnings and the market.”

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Read moreWorld stocks tumble on US recession fears

Pizza and beer now cost an arm and a leg

If you’re looking for a sure sign the U.S. economy is headed in the wrong direction, all you need to do is look at the skyrocketing price of “recession-proof” foods: pizza, hot dogs, bagels and beer.For many Americans, the credit crunch and the mortgage mess have left their pocketbooks – and their cupboards – bare. These same consumers, many living paycheck to paycheck, have relied on these cheaper foods to keep their expenditures down. Not anymore.

In the past few months, the news has gone from bad to worse:

* Pizza makers have seen their cheese costs soar this year from $1.30 a pound to $1.76 a pound. Even worse, the flour used to make the dough has gone from $3-$7 dollars a bushel to $25 a bushel in less than a year.
* Beer makers have been forced to raise their prices because of the skyrocketing price of hops – one of the principle ingredients. The price of hops has gone from about $4 a pound in September to $40 a pound. The price of barley, beer’s other main ingredient, has nearly doubled.
* Bagel shops have struggled to hold the line on prices and keep their customers. The exploding wheat prices have made the $1 bagel a fact of life in big cities such as New York. Donuts are averaging $1.50. And many shop owners fear a wheat shortage will drive prices even higher.
* Even the lowly hot dog is getting more expensive. Gray’s Papaya, a New York hot dog institution, will be jacking up the price for its $3.50 “Recession Special” – two hot dogs and a 14-ounce drink. Nicholas Gray, owner of the frankfurter chain, has yet to set the price increase, but he indicated it is coming soon.

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Overall, retail food prices rose 4 percent last year – the biggest jump in 17 years. The USDA officials predicted another 3 percent to 4 percent increase this year and continuing price hikes, faster than the pace of inflation going into 2010. And the price pinch has hit the lower-income shoppers hardest.

Why is this happening? Call it the perfect storm of inflationary pressures.

Bob Goldin, executive vice president of Technomic Inc., a food industry consulting firm, described the cost increases as a “disaster scenario,” with no real end in sight and limited ability for most to pass on the bulk of the costs to consumers.

Surging energy costs have driven up the price of transporting goods from farm to storefront. The national average for a gallon of gas jumped to $3.164, creeping closer to last May’s record of $3.227, according to AAA and the Oil Price Information Service. Diesel prices jumped 1.5 cents to a new record national average of $3.642 a gallon.

While most Americans fuel their cars with gasoline, most of the products they buy are transported by trucks, trains and ships that burn diesel. While gas prices are unlikely to rise as high as $4 a gallon, diesel may well pass that psychologically important level this spring, boosting prices of virtually every consumer product, said Tom Kloza, publisher and chief oil analyst at the Oil Price Information Service in Wall, New Jersey.

“It’s everything that gets shipped,” Kloza said of diesel fuel’s impact on the economy. “That is the one that is much scarier.”

Another reason for the sharp hike in food prices is the increasing demand for ethanol, which has driven up the price of corn – and at the same time created a shortage of wheat as farmers shift their crop to the more lucrative corn.

“There are several reasons [for higher food prices], but at the core is corn, the largest and most important of agricultural commodities,” said Bill Lapp, president of Advanced Economic Solutions.

Which brings us back to the price of flour – and the pricier pizza. Jimmy Ferrell, owner of the four Fat Jimmy’s pizza restaurants in Louisville, Ky., said the price of flour has forced him to pass the cost onto his customers. “You have to raise (prices) a couple times a year just to keep up,” he said.

Ferrell thinks the rising flour prices have hurt small operators more than national chains.

“The national chains have a lot more pull and they can negotiate prices. I don’t think we have the same buying power that a Papa John’s or a Domino’s obviously has.”

Food industry consultant Goldin doesn’t see a light at the end of the tunnel. “There are no simple solutions,” he said. “The trend will be to reduce product costs, and some of that may very well affect quality.”

So, how can budget-conscious consumers stretch their dollar? There is one – albeit artery-clogging – alternative.

Fast food companies, looking for a way to attract budget-conscious customers, are increasingly offering more food for less money. The “dollar-menu” option is growing at chains such as McDonald’s, Burger King and Quiznos.

That’s good news for diners like Boston resident Shekia Scott. While lunching with friends at a Burger King, Scott said higher prices for food and gas were hurting her budget. But, she added, “the dollar menu’s been a help.”

So there you have it. Your best option for cheap eats is a gut-busting McDonald’s double cheeseburger for a buck. Makes you want to cry in your beer … if you can afford it.

The Associated Press and CNBC contributed to this report. By Al Olson

MSNBC updated 11:18 p.m. ET Feb. 29, 2008

Source: MSNBC

Russia and China rethink arms deals

Bejing: For almost two decades, it was close to the perfect match of buyer and seller.

Denied weapons and defense technology from the West, China was almost totally reliant on Russia for the hardware it needed to jump-start an ambitious military buildup. And while the Russian economy teetered in the aftermath of the Soviet Union’s collapse, huge orders from China helped keep a once-mighty defense industry afloat.

But powerful new forces, including a fear in Moscow of renewed rivalry with its neighbor and a desire in Beijing to become more self-reliant, have led both sides to re-evaluate this trade.

After orders peaked at more than $2 billion a year early in this decade, Chinese arms deals with Russia shrank to almost nothing in 2006, and no major new contracts are in the pipeline, according to Russian, Chinese and U.S. defense experts.

Read moreRussia and China rethink arms deals

Bank Failures? No big deal, says CNN

I really enjoyed reading this article, although I think TheOnion.com would be much better suited publisher.Here are some excerpts:

Banking experts say there is one thing that will save your money if your bank goes under. That’s FDIC insurance. “It’s the gold standard,” says banking consultant Bert Ely. “The FDIC has ample resources. It’s never been an issue,” he says.

As loan delinquencies rise, and bank failures increase, the FDIC is shoring up its reserves.

That’s fascinating, because last I checked (about five minutes ago), the FDIC had in its assets about 1.2% of the deposits it claims to “insure”.

If your bank bites the dust, there’s nothing to fear according to the FDIC. A healthier banking institution normally buys the failed bank according to Barr. “There is little or no interruption to the consumer,” he says. “If you go to bed one night as a customer of a bank, and you wake up as a customer of a new bank, there is nothing you have to do.” Your checks will still clear, you can still use your ATM card.

See? Bank failure isn’t even a bad thing!

Posted by Chris Brunner at February 29, 2008 11:16 AMSource: lewrockwell.com

Iraq war may cost US USD 7 trillion

Noble Prize-winning economist Joseph Stiglitz estimates that the wars in Iraq and Afghanistan may cost the US up to USD 7 trillion.When US troops invaded Iraq in March 2003, the Bush administration predicted that the war would be self-financing and that rebuilding the nation would cost less than USD 2b, but Stiglitz estimates that the wars in Iraq and Afghanistan are costing America more than USD 3 trillion.

That estimate from the Noble Prize-winning Sttiglitz also serves as the title of his new book, “The Three Trillion Dollar War”, which hits store shelves Friday.

The book, co-authored with Harvard University professor Linda Bilmes, builds on previous research that was published in January 2006. The two argued then and now that the cost to America of the wars in Iraq and Afghanistan is wildly underestimated.

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Joseph Stiglitz and Linda Bilmes

Read moreIraq war may cost US USD 7 trillion

Iran shifts oil sales away from dollar

Deputy head of the National Iranian Oil Company for international affairs says Iran has completely dropped dollar in its oil sales.“We issue invoices in dollars and agree with clients that the letters of credit and other means of payment will have a non-dollar basis,” he said.

In an interview with The Financial Times, Hojjatollah Ghanimifard said that over the past three months, Iran has received 75 percent of the proceeds from its oil sales in euros and the remaining 25 percent in the Japanese currency, yen.

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Hojjatollah Ghanimifard

Read moreIran shifts oil sales away from dollar

Atlanta Fed Releases DVD Aimed at Helping Banks Prepare for Disasters

Source: http://www.frbatlanta.org/invoke.cfm?objectid=5EDC3C78-5056-9F12-12899EC0FD1BFE7E&method=display_pressrelease

In the aftermath of a disaster, banks play a vital role, distributing cash to their customers and ensuring that their customers are able to meet the financial needs of their families and their businesses.

Drawing on the experience of bankers who have weathered crisis situations, the Federal Reserve Bank of Atlanta developed Crisis Preparedness: Reconnecting the Financial Lifeline, a DVD designed to assist bankers with their institutions’ emergency preparedness efforts. Each section of the DVD profiles a facet of crisis preparedness, from preparing and testing a plan to caring for employees to providing cash to customers to working with banks and first responders.

Read moreAtlanta Fed Releases DVD Aimed at Helping Banks Prepare for Disasters

Abu Dhabi fund draws scrutiny in U.S.

The headquarters of the InvestmAbu Dhabient Authority. The authority has a high profile in the emirate, but its secrecy is drawing scrutiny in Washington. (Charles Crowell/Bloomberg News)

Abu Dhabi has about 9 percent of the world’s oil and 0.02 percent of its population. One result is a surfeit of petrodollars, much of which is funneled into a secretive, government-controlled investment fund that is helping to shift the balance of power in the financial world.

After decades in the shadows, the fund, the Abu Dhabi Investment Authority, is turning heads on Wall Street and in Washington by making high-profile investments in the United States and elsewhere.

Known as ADIA (pronounced ah-DEE-ah), the fund recently formed a small team that is now buying big stakes in Western companies. This unit masterminded ADIA’s $7.5 billion investment in Citigroup, the largest U.S. bank, in November. It has also taken a large position in Toll Brothers, one of America’s biggest home builders.

“There is an idea that Abu Dhabi should not be the underdog of the map,” said Frauke Heard-Bey, a historian who has written a book about the political emergence of the United Arab Emirates. “They have the money to buy companies that are ailing, and why should they not? Why not make a mark?”

ADIA is the largest of the world’s sovereign wealth funds, giant pools of money controlled by cash-rich governments, particularly in Asia and Middle East. But Abu Dhabi, the wealthiest of the seven Arab emirates, says little about its fund. Few outsiders know for sure where ADIA invests, or even how much money it controls. And secrecy breeds hyperbole; some estimates of the fund’s size exceed $1 trillion.

Read moreAbu Dhabi fund draws scrutiny in U.S.

Ron Paul has been the only hope for the U.S.

Congressman Ron Paul slammed Federal Reserve chairman Ben Bernanke during a House Financial Services Committee meeting today for following a policy of deliberately destroying the dollar and wiping out the American middle class.
Paul held Bernanke to task over his refusal to address the decline of the dollar and its clear link to inflation.
“Inflation comes from the unwise increase in the supply of money credit….to argue that we can continue to debase the currency, which is really the policy of that you’re following, purposely debasing value of currency – which to me seems so destructive….it just puts more pressure on the federal reserve to create capital out of thin air inorder to stimulate the economy and usually that just goes into mal-investment,” said Paul.
Watch it.
“Ron Paul Schools Ben Bernanke Yet Again”


Paul highlighted the fact that the M3 money supply was rising at a rate of 16 per cent and that this was the real rate of inflation.
“History is against you,” Paul told Bernanke, “History is on the side of hard money – if you look at stable prices you have to look at the only historic sound money that’s lasted more than a few years – fiat money always ends, gold is the only thing where you get stable prices,” he added, pointing out that despite the price of oil’s rapid ascent, it had remained flat when compared to the price of gold.
“I cannot see how we can continue to accept the policy of deliberately destroying the value of money as an economic value,” said Paul, adding that the policy was “immoral,” and would lead to a reduction in American’s living standards and “the middle class being wiped out.”
Asked how he could defend a policy of deliberately depreciating the dollar, Bernanke stumbled through his response and was basically forced to agree with Paul’s point. Paul’s comments come on the day that the dollar hit its all time low against the Euro.
Earlier this week, former Fed chairman Alan Greenspan laid the groundwork for the further collapse of the greenback by encouraging Gulf states to abandon their dollar peg.
Watch Paul’s opening statement.
“Ron Paul opening statement to Bernanke at FSC – 2-27-2008”

Ben Bernanke’s high-wire act

Fed chief, in first of two days of testimony on Capitol Hill, acknowledges troubling signs about economic growth but also raises concerns about inflation.

WASHINGTON (CNNMoney.com) — For Federal Reserve Chairman Ben Bernanke, running the central bank has become an increasingly challenging high-wire balancing act.

All of Wall Street was watching the Fed chairman on Wednesday when he headed to Capitol Hill to outline the trio of challenges facing the Fed: an economy at risk of falling into a recession, topsy-turvy financial markets and the rising risk of inflation.

“We do face a difficult situation,” Bernanke told members of the House Financial Services Committee, marking the first day of his two-day semi-annual hearing on the Fed’s monetary policy. “The challenge for us is to balance those risks and decide at any given time which is more serious.”

Read moreBen Bernanke’s high-wire act

Russian Mafia in bed with Wall Street, CEO says

Every day, thousands of Americans look to invest their money in stocks, and many of them go through brokers and traders to simplify the process.Unfortunately, according to Overstock.com CEO Patrick Byrne, a majority of those purchasers will be victims of Wall Street’s criminal tactics and will help line the pockets of corrupt brokers and lawyers. Byrne, a Utahn who founded Overstock.com, talked to a crowd in the Union on Monday about how New York financial media and law firms have teamed up with big-wig business elites to create massive amounts of profit at the cost of American consumers.

Read moreRussian Mafia in bed with Wall Street, CEO says

Oil hits record

The price of oil increases dramatically and will continue to do so.

Oil hits record as OPEC rebuffs Bush http://www.azstarnet.com/business/228364

All this fits into the plan to crash the economy, destroy the value of the Dollar, take away your money and to keep all of you in a survival mode.

There has been found enough oil in Alaska to keep the US economy running for 200 years!

Lindsay Williams, an ordained Baptist minister for 28 years, is witness that this is true.

Visit his homepage: http://www.lwoil.com/index.php and read his book: The Energy Non-Crisis

Why would they do that? To earn more money? Yes, but those guys already have enough money! It’s now all about power.

They want to control you utterly and totally.