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Soldier Of Truth In A Lifelong Battle With Lies - Four Winds 10

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have reached several new important<br />

milestones. Another $750 billion of<br />

market capitalization has been lost, thus<br />

bringing the total loss in market<br />

capitalization (during the eighteen<br />

months of the George Bush II Regime) to<br />

$4.75 trillion.<br />

<strong>In</strong> an effort to stave off an economic<br />

collapse of its own creation, the Bush<br />

Administration desperately continues to<br />

bang the drum on the so-called positive<br />

economic numbers. The gross domestic<br />

product of the United States is expected<br />

to grow between 3-1/2% and 3-3/4% for<br />

the entire year. Corporate profits are<br />

expected to pick up during the second<br />

half of this year. Yet these numbers<br />

continue to be ignored by the investing<br />

public. The reason it is being ignored is<br />

because the Bush Administration, with its<br />

incessant waste, fraud, abuse, graft,<br />

corruption, and malfeasance, isn’t fooling<br />

anybody anymore.<br />

For instance, we must remember that<br />

most of the government economic<br />

statistics that are released by various<br />

federal agencies are in fact all lies. That’s<br />

why these numbers are endlessly revised<br />

after they are issued. <strong>In</strong> some cases,<br />

revisions are made up to six months later.<br />

The way the government puts together<br />

these statistics is fundamentally flawed.<br />

When the Clinton Administration<br />

attempted to make a general overhaul of<br />

the way government agencies compiled<br />

statistics and data, the Republicans<br />

fought them tooth and nail. They knew<br />

that if the monthly government statistics<br />

were going to tell the truth, it would paint<br />

a very dire picture.<br />

The White House has been putting<br />

Republican market pundits on CNBC and<br />

FNN virtually hour after hour, to try to<br />

pump up investor confidence. They say<br />

that the Dow Jones industrial average at<br />

its current levels has discounted all of the<br />

accounting scandals and Republican<br />

connected fraud yet to come.<br />

Isn’t it odd that the Bush<br />

Administration—which professes to know<br />

nothing about this inherent accounting<br />

fraud and fraud connected to itself—says<br />

that in six months time this will all be<br />

weeded out?<br />

But if they don’t know anything about<br />

it, how can they give a time frame?<br />

The reason why is because they<br />

already know which corporations have<br />

accounting problems and which<br />

corporations have committed<br />

Republican-connected fraud which<br />

hasn’t been revealed yet.<br />

That’s why they can give a time frame.<br />

That in itself implies that the White<br />

House must be controlling the agenda.<br />

They must be controlling the rate and<br />

pace of discovery of these frauds. They<br />

couldn’t give a time frame otherwise.<br />

<strong>In</strong> other words, if there are two hundred<br />

more major frauds to be revealed, then<br />

maybe the White House has a plan that<br />

will gradually reveal the frauds over six<br />

months time, so the market doesn’t crash<br />

right away.<br />

The market will then have time to<br />

absorb the bad news.<br />

As we have discussed before, the next<br />

two shoes to drop (that will hit the<br />

capital marketplaces like a bombshell<br />

and dampen investor enthusiasm even<br />

further) is the corporate pension fraud.<br />

There is an aggregate of probably some<br />

number in the trillions of dollars that<br />

American corporations owe their own<br />

pension funds.<br />

This was recently revealed when<br />

General Motors made the admission<br />

that it has a $3.6 BILLION deficit in its<br />

fixed pension fund. Ford, Chrysler, and<br />

General Electric all have enormous<br />

multi-billion fixed deficits. AND<br />

THAT’S ONLY THE TIP OF THE<br />

ICEBERG.<br />

<strong>In</strong> the future, any corporations that have<br />

any shortfalls in their pension plans are<br />

going to have to make provisions to use<br />

corporate profits to replenish those funds.<br />

The reason those pension frauds were<br />

allowed to exist is that both during the<br />

Reagan/Bush-I Regime, and now the<br />

Bush-II Regime, they consistently<br />

weakened regulatory statutes regarding<br />

corporate pension funds. They gave<br />

corporations more leeway and more time<br />

to replenish the money. More tax writeoff,<br />

more depreciation, and so on. It has<br />

been the Bush Cabal which has created<br />

this corporate pension problem. That’s the<br />

first show to drop next.<br />

The next one (which nobody is talking<br />

about, which AlMartinRaw.com is now<br />

revealing) is that this market slide and the<br />

corporate collapses of Enron, WorldCom,<br />

and Global Crossings, etc., have created<br />

thus far (and the process isn’t completed<br />

yet) $500 BILLION in bad loans for<br />

American banks.<br />

Very little, if any, of this money will be<br />

recovered. The banks will simply have<br />

to write the money off. This is at a time<br />

when personal bankruptcies are at all<br />

time highs and continue to increase.<br />

This is at a time when banks are already<br />

writing down record amounts of<br />

consumer debt. Now they’re going to get<br />

hit with a double whammy of this newly<br />

created corporate bad debt.<br />

Nobody has talked about what the<br />

impact of this—on the marketplace and<br />

on our economy—is going to be.<br />

Therefore, this is why the market<br />

continues to decline—despite some<br />

seemingly bright spots.<br />

(Parenthetically speaking, would Al<br />

Martin Raw readers be interested in a<br />

financial newsletter, or a course on what<br />

the so-called Smart Money Crowd is<br />

doing—shorting the market? Please<br />

email your response to the<br />

virtualagency@yahoo.com <strong>In</strong>ternet<br />

address.)<br />

You see all these Republican<br />

Cabalists—George Bush, Dick Cheney,<br />

and Jack Welch (the retired chairman of<br />

General Electric, who is now being<br />

investigated for problems at GE Capital<br />

Credit, overstating profits, etc.) standing<br />

up on the podium telling us to keep<br />

waving the American flag, and don’t worry<br />

about your IRA statements. You just keep<br />

on buying stock.<br />

At the same time, these people (the<br />

Smart Money Crowd) are shorting the<br />

market and converting their trading<br />

profits into gold. That speaks volumes.<br />

It’s one thing to tell the American<br />

people to go out and keep buying, while<br />

the Bush Cabalists are being short. <strong>Of</strong><br />

course, there is nothing wrong with that.<br />

But it is very onerous when they start<br />

converting their profits into gold and start<br />

getting out of dollars.<br />

The Smart Money Crowd has been<br />

shorting the market, converting their<br />

trading profits to gold through offshore<br />

gold accounts, principally held at the<br />

LME or in Zurich. There is a whole vast<br />

array of offshore accounts. People tend to<br />

think that offshore accounts are just used<br />

to hold money, for U.S. dollars or<br />

whatever. But you can convert that to any<br />

form of currency, Euro-dollars, at LIBOR<br />

rate (London <strong>In</strong>terbank <strong>Of</strong>fshore Rate) or<br />

whatever. Or you can put your currency<br />

in offshore bullion accounts, where you<br />

can buy and hold bullion through a Swiss<br />

bank in an offshore account.<br />

And how fast is the market being<br />

brought down? There are two schools of<br />

thought about that:<br />

Do you bring it down fast and hard and<br />

try to convince the American people that<br />

this is the bottom and now it’s time to buy<br />

again? Or do you bring it down<br />

gradually?<br />

Obviously you have to do it gradually.<br />

Since so much investor confidence has<br />

been lost, if the Bush Administration<br />

brought the market down fast and hard<br />

and said “Here’s the bottom”, nobody’s<br />

going to believe them.<br />

Therefore what you do (as the Bush<br />

Administration has done) is you put all<br />

your economic pundits on television and<br />

you resort to the classic strategy of letting<br />

the market drop slowly. Then you keep<br />

telling the American people to just keep<br />

putting their money into their IRA and<br />

PAGE 78 www.TheSpectrumNews.org Toll-free: 1-877-280-2866 Outside U.S.: 1-661-823-9696 SEPTEMBER 2002

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