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