Posted on 01/19/2014 6:06:29 PM PST by markomalley
The new book Game Plan: How to Protect Yourself from the Coming Cyber-Economic Attack by Kevin Freeman is a stunning collection of factual research which lays out how a systematic international plan to bring down the U.S. dollar as the world's reserve currency. Freeman warns today's international effort to "crash the dollar" has reached critical mass: "Stage 3."
I have been writing about the increasing threat of economic and cyber war in my books and quoting Mr. Freeman for several years now. (For example, in The Inflation Deception p. 28-29) I wrote:
A Financial Pearl Harbor
According to Defense Department consultant Kevin D. Freeman, America in September 2008 suffered a financial “Pearl Harbor,” an internationally-launched coordinated computer raid designed to drain overnight trillions of dollars from our most important financial institutions. The resulting panic gulled Federal lawmakers into approving vast emergency bailout funds for banks, brokers and key corporations.
This remarkably-timed attack and resulting economic confusion persuaded voters to renew the liberal Democratic control of Congress and to elect a fresh and unknown-and-untested anti-capitalist radical community organizer as president.
According to Freeman, this attack was the culmination of three coordinated assaults that began in 2007 with “a speculative run-up in oil prices that generated as much as $2 Trillion of excess wealth for oil- producing nations, filling the coffers of Sovereign Wealth Funds, especially those that follow Shariah Compliant Finance.”
(Excerpt) Read more at breitbart.com ...
The article doesn't explain how the attack will take place especially why it would be quick. It might be better to treat the dollar to a slow lingering death rather than a quick death. Our enemies may not have much use for gold or silver either except as a proxy for the commodities that they can't obtain without the PMs.
Primarily they want to sideline America to ensure that they can occupy the rest of the world. It will take more than a quick crash of the dollar to do that. While they might charge more for strategic goods, they may for example sell us a nice supply of rope cheaply.
America needs industry.
Stop buying everything from China.
Bring back US industry.
The reason that the US is vulnerable to a dollar bear raid is because the US government has adopted policies that make us vulnerable. You can’t blame China for our profligate spending, high taxes, and out of control regulation.
Even if we stopped importing from China today, we don’t have the skills or machinery to rebuild. It would take YEARS and capital that does not exist.
Manufacturing is gone. And it ain’t coming back soon.
Mr. Palmer, pay no attention to the shallow and unstudied response from the Cringing News Network. Cringing is a one note tune. Here’s what he said recently on a post dealing with China as a military threat.
“I do NOT see our own government as a threat. Our own government is simply a mess.”
“Cringing” has my vote for best FR comment of the year!
http://www.freerepublic.com/focus/f-chat/3112948/posts#comment
We need industry.
America cannot remain strong without industry.
America needs to remain strong. Powerful.
All the current trends are in the wrong direction. The end result of what is currently happening, is a catastrophe.
We are not there now. But we need to stop buying everything from China.
Bring back American industry.
Now.
Ok
If this is true, where does one put their investments?
Currently long on Exxon, TIPS, various mutual funds
Americans are as addictied to cheap Chinese junk (as from ChinaMart) as they are to cheap money, and will never stop buying Chinese.
Not until the SHTF.
And the number of us who refuse (as much as we can) to buy Chinese is small and always will be.......
It’s nonsense to hope for it......
Correct.
Save
Glad to see Freeman getting some attention on FR. I tried to spread the word about his first book ... Secret Weapon ... but there was little interest here.
Freeman’s done his homework ... he know what he’s talking about. I hope people read his books and take note of all that’s going on in the financial world.
“Even if we stopped importing from China today, we don’t have the skills or machinery to rebuild. It would take YEARS and capital that does not exist.
Manufacturing is gone. And it ain’t coming back soon.”
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The Germans didn’t make the mistakes our government made—they still have the needed machinery and very skilled workforce (constantly being replenished by their education institutions and practices) to support manufacturing industry. And they manufacture products very much in demand throughout the world. They just have to resist the impulse to support their lazier European compadres (and thus commit financial suicide).
The United States could rebuild its manufacturing infrastructure and capabilities IF IT DESIRED. We would have to re-prioritize how our capital is allocated. Germany makes top notch machinery and would be more than happy to supply us. But I fear that our current national leadership is more interested in enriching their cronies than undertaking the hard lifting of rebuilding our industrial might.
You are correct. We can choose to increase Social Security, Food stamps, or pay our debt. Now pick 2 in that group to cut, and rebuild our infrastructure on a declining tax base ( if we cut ties with China.)
Cutting Social Security gets you voted out of office.
Cutting benefits gets you civil unrest, at best.
Cutting out paying our debt, bring war.
We are painted into a corner. We need McGyver for a President to get us out of this.
bfl
It was a panic, not an attack. International investors are trying to continue artificially propping the dollar and to keep it as the reserve currency. There are balance of payments deficits because of the trade deficits. Without an enormous increase in our manufacturing base on U.S. soil very soon to provide real revenues (not U.S.-”based” manufacturing on foreign soil), bonds yields will rise rapidly, while prices plummet.
Interest rates will skyrocket, then radical market plunges, layoffs, etc. Bond prices will collapse, resulting in haircuts for bond investors and pensioners. Hasty, deep cuts in government spending too late, resulting in even fewer consumers spending. Vicious cycle. The dollar will drop like a rock. More self-sufficient countries and groups of countries will keep oil prices high.
What is the conventional wisdom as far as renting/buying at a time like this? I heard a dollar collapse would cause rent to skyrocket, so it’d be better to buy now with a locked in interest rate. Is that true?
Increased oil production is accomplishing a lot of that. Without it, we'd have crashed several years ago.
Gosh, that looks like a pattern, doesn't it?
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