John Williams' Shadow Government Statistics - HYPERINFLATION SPECIAL REPORT

[robertpaulsen]

HYPERINFLATION SPECIAL REPORT



Issue Number 41

April 8, 2008

__________



Inflationary Recession Is in Place

Banking Solvency Crisis Has Opened First Phase of Monetary Inflation

Hyperinflationary Depression Remains Likely As Early As 2010

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Overview

The U.S. economy is in an intensifying inflationary recession that eventually will evolve into a hyperinflationary great depression. Hyperinflation could be experienced as early as 2010, if not before, and likely no more than a decade down the road. The U.S. government and Federal Reserve already have committed the system to this course through the easy politics of a bottomless pocketbook, the servicing of big-moneyed special interests, and gross mismanagement.

The U.S. has no way of avoiding a financial Armageddon. Bankrupt sovereign states most commonly use the currency printing press as a solution to not having enough money to cover their obligations. The alternative would be for the U.S. to renege on its existing debt and obligations, a solution for modern sovereign states rarely seen outside of governments overthrown in revolution, and a solution with no happier ending than simply printing the needed money. With the creation of massive amounts of new fiat (not backed by gold) dollars will come the eventual complete collapse of the value of the U.S. dollar and related dollar-denominated paper assets.

What lies ahead will be extremely difficult and unhappy times for many. Ralph T. Foster, in his "Fiat Paper Money" (see recommended further reading at the end of this issue), closes his book’s preface with a particularly poignant quote from a 1993 interview of Friedrich Kessler, a law professor at Harvard and University of California Berkeley, who experienced the Weimar Republic hyperinflation:

"It was horrible. Horrible! Like lightning it struck. No one was prepared. You cannot imagine the rapidity with which the whole thing happened. The shelves in the grocery stores were empty. You could buy nothing with your paper money."

more...

http://www.shadowstats.com/article/292

Is anyone here familiar with this John Williams?

[midnight]

1. The U.S. has no way of avoiding a financial Armageddon

Is this what Elliot Spitzer was working on to stop?

[robertpaulsen]

2. Sounds like a Greg Palast article.

The $200 billion bail-out for predator banks and Spitzer charges are intimately linked

By Greg Palast
Reporting for Air America Radio’s Clout

March 14th, 2008

While New York Governor Eliot Spitzer was paying an ‘escort’ $4,300 in a hotel room in Washington, just down the road, George Bush’s new Federal Reserve Board Chairman, Ben Bernanke, was secretly handing over $200 billion in a tryst with mortgage bank industry speculators.

Both acts were wanton, wicked and lewd. But there’s a BIG difference. The Governor was using his own checkbook. Bush’s man Bernanke was using ours.

This week, Bernanke’s Fed, for the first time in its history, loaned a selected coterie of banks one-fifth of a trillion dollars to guarantee these banks’ mortgage-backed junk bonds. The deluge of public loot was an eye-popping windfall to the very banking predators who have brought two million families to the brink of foreclosure.

Up until Wednesday, there was one single, lonely politician who stood in the way of this creepy little assignation at the bankers’ bordello: Eliot Spitzer.

Who are they kidding? Spitzer’s lynching and the bankers’ enriching are intimately tied.

http://www.gregpalast.com/elliot-spitzer-gets-nailed/

Is this what you're referring to?

[kimmerspixelated]

3. Ahh, it gets more interesting all the time, doesn't it?

I remember posts about the Spitzer deal, but I'm confused, are you saying that this financial armageddon is PLANNED?, and that Spitzer was going to report on the shady dealings on Wall street as a way to stop it, or something else? I'm a little slow today.

[Hydra]

4. I didn't dig into the Spitzer thing

But I CAN tell you that the Fed planned all of this out and has played it out perfectly.

The final insult was watching Bernake and Bush pretending that it was completely out of their hands.

[dixiegrrrrl]

7. history of planned economic meltdowns is available all over web

I started here and one tidbit led to another..
http://greatreddragon.com

Bottom line is that financial disasters result in the consolidation and increased power of the biggest banking/corporatist firms.
Notice how fast JP Chase gobbled up Bear Sterns...
Notice how fast Bank of America offered to gobble up Countrywide.
( tho that may turn out to be a bad move for BOA)

The current crisis is giving opportunity for the Carlyle Croup to gobble up weaker opponents and the Federal Reserve Board ( who are heads of the biggest banks) to demand more control over the US Treasury. ( money printing presses)


muckety.com can show you, in interactive map form, all the people involved.
Just plug in Carlyle Group and follow the leads.
It's kinda fun but disquieting when you can see the pattern laid out.

Sorta like playing Monopoly, with loaded dice.

[elocs]

5. If this is on the horizon,

then I can understand why the Republicans might not mind losing the next election. Let Obama take the blame.

[robertpaulsen]

6. That, to me, is the scariest prospect.

Although if the Rethugs counter by nominating Jeb Bush in 2012, I think John Williams' prediction of the rise in power of a stronger third party alternative at that time may prove correct.