Gas Prices Signal Tsunami of Inflation
Greg Hunter’s USAWatchdog.com
A good friend of mine, who has family living abroad, called me this weekend. One of the first things out of his mouth was about his sister in London and how she was dealing with “terrible inflation.” No doubt he was talking about the spike in gasoline prices that have risen to more than $8 a gallon. (The official inflation rate in the UK is around 3.6%, but I’m sure the numbers over there are as reliable as the inflation numbers in the U.S. where fuel and food are not counted in the so-called “core” inflation.) Part of this price spike is due to Iran cutting off crude oil shipments to the EU recently, but part of it is the fact the UK has been engaging in quantitative easing (QE), or money printing, to help its ailing economy and insolvent banks. Just in the last few weeks, it announced another $50 billion in QE. The UK is not alone as most Western countries are engaging in QE to prop up an insolvent system bloated on bad debt.
“Inflation is always and everywhere a monetary phenomenon.” This famous quote from Nobel Prize winner Milton Friedman really says it all about what is happening to fuel prices and inflation. The Federal Reserve is creating trillions of dollars in new currency to paper over the meltdown of 2008 and stave off a sovereign debt crisis in Europe. Oil is priced in dollars; so, of course, fuel prices are rising around the globe. An article on Zerohedge.com, last Friday, predicts oil hitting $200 a barrel in the next 5 years, but I think we will hit that mark much sooner. The post unabashedly said, “The sole reason why crude prices are surging . . . is because global liquidity has risen by $2 trillion in a few short months, on the most epic shadow liquidity tsunami launched in history in lieu of QE.” (Click here for the complete Zerohedge.com story.)
According to millionaire investor Jim Rogers, the Fed has already started its third round of QE. In an interview on Reuters, last week, Rogers said, “We already have QE3 … Get out the Federal Reserve’s balance sheet. You’ll see that they’ve been pumping up – you can see unadjusted M2 is going through the roof. Look at their balance sheet. … All sorts of assets are suddenly appearing on their balance sheet. Where did they come from? They didn’t come from the Tooth Fairy; they came because they’re in there buying in the market as fast as they can. There IS QE3 already. They don’t call it that but it’s there.” (Click here to hear Jim Rogers. This quote is at the very end of the clip.) Short term, Rogers likes the dollar, but he’s not a long term holder of the buck.
Adding to the money creation is the European sovereign debt crisis with Greece at the tip of the debt iceberg. The banks will be kept afloat at all costs instead of liquidated. According to Jim Willie of GoldenJackass.com, massive amounts of new money will need to be created out of thin air to keep the Western banking system solvent. In his most recent report, Mr. Willie said, “The zinger is the recapitalization of the banking system, an urgent need and requirement, the understood impact from the imposed Greek comprehensive solution. Expect more favored treatment to the banks. However, as they are put back on solvent feet, a process only possible with vast hyper monetary inflation directed specifically at the banking pillars, the retribution from within the system will possibly be the first serious price inflation leakover. For over three years, the monetary inflation leakover has been contained, to the detriment of the economy.” (Click here to read the complete post from GoldenJackass.com.) Nothing will signal a tsunami of inflation (caused by currency creation) faster than rising oil (and gold) prices. I think it is a lock that people around the planet will be paying much higher prices at the pump.
President Obama is saying the recent spikes in gasoline prices are not his fault and said, last week, there “are no quick fixes to this problem.” He is right about one thing, there are no quick fixes. The problem is not one of supply, but of too many dollars created to bail out Wall Street banks that should have gone into bankruptcy. Prices for regular gasoline in America are approaching $4 a gallon and, in some places, they are approaching $5 a gallon. According to a post on Forbes.com titled “Gasoline Prices Are Not Rising, the Dollar Is Falling,” relative to the price of gold, gasoline is cheap. The report said the average for the last 493 months has been “.0732” ounces of gold per barrel of oil. Right now, the ratio is about “.0602” ounces of gold per barrel. Are you getting this? Either gold prices have to go down or oil prices are headed higher to equal the nearly 500 month average. The report goes on to say, “At this point, we can be certain that, unless gold prices come down, gasoline prices are going to go up—by a lot. And, because the dollar is currently a floating, undefined, fiat currency, there is no inherent limit to how far the price of gold in dollars can rise, and therefore no ultimate ceiling on gasoline prices.” (Click her for the complete Forbes.com report.)
If there is war in the Middle East (as I expect), it will be like lighting a match in a room full of natural gas. Prices will explode for fuel and just about everything else, and talk of the so-called “recovery” will finally cease.
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About the Author
Greg Hunter
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.
This is right on Greg. The sad thing is how the small percentage of us that see this coming clear as day can do little about it. It’s equivalent to standing on the tracks and watching the oncoming freight train’s light grow bigger and whistle grow louder. What’s even sadder is how many do not see this coming. A few days ago, I mentioned to a fellow twenty-something how gas prices are due to spike. I explained how demand is down, yet price is up, indicating the main problem is caused by the diminishing dollar. The response was something akin to “That sucks.” I remember the run-up to $147 oil back in 2008. Back then there was outrage when fuel reached around $4/gal. This time since the rise has been more gradual and people have been beaten down by the economy in general, they are more passive. Though news stories are starting to pop up regarding gas prices this only means that people are not paying close attention to these issues, and at some point will be blindsided with the realization that inflation is going to destroy their bank accounts. At that point the political manipulators will step in to blame speculators, oil companies, Iran, and whoever else they feel fit to capitalize on the situation.
Serapis.
Good piont. Seems like the ones that understand what you just said are like the frogs at the bottom of the pan..They feel the change in temperture…the water is bioling on the bottom.
Worked in L.A. for a couple of days this past week and saw $5 per gallon gasoline. Of course, cab rides from LAX to downtown are more expensive now. The last time I took a cab it was around $40; now it is $50+ (more like $55.00).
Tucson is around $3.59 for a gallon of gas right now; in some places it is higher.
Other observations:
It seems like things are really starting to unravel at a faster rate now. Does it seem that way to anyone else or am I imagining things?
A friend who came up to see me from Orange County (while I was in L.A.) drove me down to “Skid Row” (there really is such a place!) where I saw lots of homeless people lining both sides of the street (mostly black folks). No “Occupiers” there; just folks struggling to stay alive.
Thanks for all you do, Greg!
Samantha in Tucson,
Thank you for the real world reporting from the Western U.S.
Greg
The I.P.E. takes gold as collateral for oil futures credit accounts so now oil and gold rise together on fantasy paper contracts that can be renewed forever, indefinitely. Wall Street saving the world from living better lives for short term gains, yay.
I wouldn’t use the UK as a harbinger of anything. In 1985, I paid $4.50/gal, roughly, for gasoline in Britain — at a time when it cost less than a dollar/gallon in the States. It was explained to me that the differential was due to TAXES on fuel. If the price is now $8/gal, that gives a UK inflation rate over the past 27 years of 4%.
You should also be aware that toward the end of his life, Milton Friedman famously recanted his strict monetarist stance. Experience (i.e., the ’70s) had shown him that inflation is not “always and everywhere” a monetary phenomenon. Things just aren’t that simple.
But I agree with you that QE is driving up commodities prices. Most of that money seems to be sloshing around in the financial system. It’s certainly not trickling down to the public, which has seen its income fall, both nominally and, even worse, in inflation-adjusted terms, since 2001 (at least). The result is that although demand for oil is falling and the world is awash in crude, prices continue to rise. This obviously is not demand-driven inflation: It is the result of speculation and hot money (& QE has created a lot of “hot” money) seeking inflation protection, in other words, a vicious cycle. … We can take comfort in the knowledge that speculative bubbles always burst. When the speculators start crowding the exits, expect oil to fall to its intrinsic value, which currently is something like $35/barrel.
The “all sorts of assets” the Fed is acquiring, per Jim Rogers, are bad mortgages. The Fed is relieving the banks of their underwater loans, freeing them to lend more. Since the Fed can buy this bad paper with virtual dollars and hold it til the cows come home, I view this as a rational and legitimate response to the consequences of its failure to rein in the lending excesses of the Bush era. In this way, the Fed is propping up the housing market, a boon for homeowners who might otherwise mail in the keys as times get harder.
It should also be noted that Forbes magazine’s editorial policy reflects the views and wishes of its elitist, far-right ownership — “Flat Tax Steve.” This being an election year, I think you should consider the source of the “information.”
Hey, OBAMATRON! How do you like me now?
Nothing better than having what goes around, comes around, hit you right in the face and that is high gas prices. Obamatron blamed the Bushy Crowd, last election, for high gas and gas wasn’t that high. Maybe because we did not as much money printed at the time.
And you know what? Do you see any voodoo energy bills in sight. Forget about the candidates. What is the Congress doing with their thumbs up their six o”clock? Are they up there in D.C. or on a vacation like Obamatron does when things get too hot. How about putting that pipeline on the Fast Track. Remember the Fast Track and it’s not in Daytona?
Betcha you were going to release the war oil reserves again. Oooooops! Might be in a little war soon.
Noticed at the gas pumps that people are short filling their cars gas tanks and at Walmart the price of a plastic gas can is $15.00, and they are selling like hot cakes. Lawn care to get expensive this summer.
To poke at you a little more. How do the welfare cards hold up against the rising food price inflation. Maybe ask your employer for a raise? Have to see how this ripples through our recovering economy.
I see families with four or five trucks or cars. Kids you know. The
parked vehicles will be good examples of a failed energy policy or maybe they put themselves in debt for sixty months for one of those, might explode, energy cars. I’m not going to let the bankers and the Fed get off the hook either. They do not care about America. They do not care about you or your family.
Excellent article Gregg. The cost of fuel relative to gold is an eye opener. It would be VERY interesting to see inflation results for “Emir O’s Amerika” with fuel and food plugged in the calculation. Indeed, Europe has government “math-gicians” ( sorry, not a real word, my creation) well educated in the art of deception.
With food used by EVERYONE, to exclude it from the calculation is absolute BS. While we all may not have individual direct needs for fuel, we all indirectly have to pay a fuel cost for that very food as well as consumer goods, comfort, and lifestyle that sustain us.
The USA has gone from the pinnacle of nations to a fast swirling motion to circling the drain. Obama has really has really accelerated the spiraling I am just trying to ascertain that point when the lever is pressed for flush and the USA has to start over. The waiting is making us weary & stressing us all down.
C. Dave.
I dont think the tiolet will ever flush. Slavery never left, It just traded people… as long as there is trust in the dollar,and gold is not money. Seeing that the dollar is fake money,Gold can be bought up,and the tiolet swirl will continue. We the slaves will become more,and more dependant on the government.The people will always believe in what they have always believed. They are not asleep.
THERE IN A COMA.
So many people fail to realize the relationship of the dollar to oil. Even political pundits who profess intelligent, “no spin zone” philosophy, “that it is the Oil Company’s fault for jacking up the market”, blah, blah, blah. When the very reason for the price of oil is based on the Federal Reserves actions. Add the Middle East tensions and you have a perfect storm.
Tyson,
Succinct and well said!
Greg
An honest media that isn’t controlled by the corporate globalists who create Washington policy would have have front page news stories with headlines like this:
“There will be no recovery. It will only get worse as we are integrated into a single balanced and harmonized global economy. Our economy must lower dramatically before we can standardize global economic policy. So adapt and get used to it.”
And the body of the story would look like this:
“There will be no recovery. Get used to it.”
“There will be no recovery. Get used to it.”
“There will be no recovery. Get used to it.”
“There will be no recovery. Get used to it.”
“There will be no recovery. Get used to it.”
“There will be no recovery. Get used to it.”
“There will be no recovery. Get used to it.”
“There will be no recovery. Get used to it.”
“There will be no recovery. Get used to it.”
Sean,
Love the comment!
Greg
‘If there is war in the Middle East’
It’s going to get much closer to home,I guarantee you.
It’s not just oil,the middle east and a collapsing Empire,there are many other things brewing in the clouds in this gathering perfect mega storm.
Today the racist firebug Farrakhan warned this divided nation that a big consuming fire could hit at any time that would permanently change the face of this nation.
I don’t think the experts have tied what ails the U.S.,E.U,and the nations of the world to the source of their deepening malaise.
If you permit me I will connect the dots.
Zechariah 12:3
And it shall happen in that day that I will make Jerusalem a very heavy stone for all peoples; ALL WHO WOULD HEAVE IT AWAY WILL SURELY BE CUT IN PIECES, though all nations of the earth are gathered against it.
Every nation which has played a part in carving up Israel and Jerusalem for a counterfeit peace process that steals what little land the Jews have to reward evil forces is in the process of being cut into pieces.
We’ve only seen the beginning and the ‘local’ firebugs like Farrakhan and Alex Jones are busy lighting civil unrest and revolutionary fires.
Hi Greg good report on inflation more and more people are now shopping in places like aldi lidl these are budget chains here in the UK Europe the car parks are at times full of shoppers cars “High end cars”
And watching people coming out with shopping bags from M&S Not the aldi lidl shopping bags.
What is that saying having been in the food retail business in the last downturn.
I can see the writing on the wall.
As the PM saying goes “We are all in this together”
This makes very good watching and informative.
http://youtu.be/oAK5xzEYq7I
Alan,
This is really big. The dollar has been propped up by trillions of funny money. When this blow you better have gold, silver and lead. This is far worse than I feared. The U.S.is teetering on collapse.
Greg
You recommend holding lead?
Sarmad,
Many have written here and said they are holding ammunition. Usually shotgun shells for home protection.
Greg
Amusing – I thought you meant lead BULLION! Out of curiosity, since I’d never heard of lead as an investment, I even went to the extent of looking up lead bars! They are very cheap!
Hey Greg
I have stored 165 gallons of fuel oil and 75 gallons of gasoline along with some gold and silver. It’s kinda interesting watching these commodities race ahead in value as the dollar collapses. I realize that the values are the same, just the value transference is the difference. How can so many people be coned by such a great stock market when the food market is bleeding them dry. It is just another failure of our school system not teaching common sense economics. I’ve been noticing gas stations with out of order bags over the pumps more frequently. Scary times are ahead for us all and it is no great consolation to be prepared while the multitude suffer. None of us take glee from watching the masses avoid the inevitable end of the current path of destruction out financial system is on and we appreciate the work you do. We just pray more people will hear you before the tipping point is reached.
NC,
I do too. There is still time to put yourself in a better position when it all come unglued. Thank you for sharing.
Greg
Those OUT-OF-ORDER bags over the pump handles is the station manager doing that until he can raise the price that the over night market jumped up on! Have you ever noticed that it’s the Regular octane fuel that gets bagged?
Gas prices are a tsunami of Jewish greed. Criminal prosecutions to follow, beginning with Joe Lieberman and everyone at Goldman-Sachs.
amicusbriefs,
Many are to blame. I do not buy your antisemitic stance!
Greg
Greg
Perhaps antisemitic comments should not be posted at all? Blind hatred of any ethnicity could be prohibited in your comments – including wild prejudice against Muslims.
Sarmad
Sarmad,
I try not to be prejudice to anyone and you are correct when you say “Blind hatred of any ethnicity could be prohibited in your comments – including wild prejudice against Muslims.” I put his up to let people know what some are thinking. I want the site to be a free flow of information. I do not want to censor people but there are times I do this was a time I chose to let the comment go up and answer it. Thank you for your comment and input.
Greg
I agree with you Greg, its a flawed model of economics that we’re battling, not a race or religeon! There are far more patriotic Jewish people who hate what’s happening than there are Jewish bankers! Charles Lindburg I think is to blame for all this anti-sematist bend on wanting to do something about our banking and economic system. Thanks to Lindburgh and his evil racial purity beliefs, anyone who wants to do a legitamate overhall of the fed etc. etc. is automatically branded an anti-semite, though a few anti-semites are still a problem in Libertarianism! BTW Senator Charles Lindburg Sr was not a libertarian but a “libertarianesk-socialist!” He spoke about individual freedom but he believed in “positive” rights granted by the gov’t rather than believing in “in-alienable rights!” A lot of Swedish imagrants to the US in the early 1900s were socialists and the socialist movement in America was fostered in the upper mid-west by German and Scandinavian Marxist socialist movements. Don’t confuse modern libertarian movment with socialism even though extreme libertarian ideals are anarchistic. Sorry for off-topic rant.
Thank you Bill and yse there are plenty of bankers on Wall Street that are not Jewish. I think you are spot on when you say “. . .its a flawed model of economics that we’re battling, not a race or religeon!”
Greg
Good reply Greg
I’d hesitate to give credence to any university of Chicago Economics theorist, Milton (Supply-side” Friedman being at the top of the list.
It is exactly his policy that lead us into this mess of debt.
The Fed isn’t printing up debt-ridden dollars to paper over the meltdown of 2008: I watched Alan “Sir Obfuscation” Greenspan state quite clearly in 2003, on “Meet The Press” that when the debt level reached a certain, critical phase, (unpayable) the Fed would “monetize the debt”…i.e., intentionally destroy the value if the dollar. He received standing ovations from his co-conspirators in congress and the (Clinton/Bush)White House.
It was all known and planned to impose draconian cuts while looting the S.S. trust fund, pensions, school funds, health care and social service funds, to enrich the 1%, while increasing funding for police state militarization and war profiteering by cronies of Wall Street and their puppets in D.C..
Milton Friedman: “There is no free lunch”…try telling that to stunned observers watching banksters recieve $27 TRILLION for bad gambles, paid for by US taxpayers…WITH INTEREST. And get BONUSES for FAILURE and CORRUPTION.
Like Greenspan, Friedman was a FRAUD, a lying weasel of deception.
farang,
I can not disagree with much of anything you said. Friedman is a weasel, but in this case, the currency creation is causing the inflation we are seeing. Thank you for your passionate comment!
Greg
Never in the history of the world has Fiat currency worked…..simple really! I was never taught this in school however…or that the Federal Reserve was a private company.
BARRETT,
No one is taught the Fed is a privat banking cartel and that is not an oversight or accident. I was not taught that either. What a scam the education system is today.
Greg
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I’m the fool who sees this but hasn’t done a damn thing about it. I’m in “deer in the headlights” mode. I need to prepare a place to live and quit my job and leave. Maybe its cowardice, or maybe its that damn normalcy bias thing, except that I am one of the few in my circle who sees this as inflation! Don’t do what I’m doing! Prepare and learn because the economic model we’re stuck in doesn’t work. Well it works if we were still free-market capitilists, but we’ve allowed ourselves to have socialistic fascist style capitilism shoved down our throats from both parties over the past 100 years culminating with TAARP-(“We’re all socialists now” headline), and endless QE! Folks all the occupiers decry capitilism when its the enslaved socialist capititilism that has been destroying middleclass and poor over the last century!
Okay, I admit not reading every comment, but Greg, no mention of what America exports and perhaps one of its biggest exports….and that is gasoline. I get this information 2nd hand, but, if you can sell it and make more moeny on the export side, I suppose that is capitalism for you.
Do you have an info on this, does America export gasoline?
Steve,
Yes the U.S. is exporting gasoline in record amounts according to the LA Times: “U.S. exports record amount of refined fuels in 2011” http://articles.latimes.com/2011/dec/30/business/la-fi-fuel-exports-20111231 The world is sloshing around in fuel and crude oil. Fuel usage is way down in the U.S. and it has to go somewhere. The point of my post is inflation caused by massive amounts of currency creation that is leaking out into the markets in the form of speculation. Thank you for your comment and question.
Greg
I have some tales from the last depression. My grandparents were well positioned. One had a grocery store in a small town and the other was a skilled government employee in an important department (customs and immigration ). Some of the lessons that I have followed are; don’t worry about the price of gas, you won’t have a job to go to. Violence will be down because drug and alcohol use will be down and people will actually work at helping each other. Plain food will be cheap but you will need some money. Note; this is beginning to happen to fruit and produce in spite of some terrible weather. And the advice is; don’t wait, it is happening now. ( yes, I have a food store in a small town and my wife has a government job-I am prepared )
i’ve held my current job as a truck driver for roughly 10 years, averaging daily about 400 miles. what used to cost $90 to $120 daily is now $350 to $450. who picks up this increased cost? a simple stroll through a grocery store will provide the answer.
Hi Greg, I posted yesterday about “The White Hats” and Lord James of Blackheath, I understand your reluctance in posting it, sounds crazy I know! Before you write me off as a troll check this out.
http://www.veteranstoday.com/2012/02/21/intel-exclusive-trillion-dollar-terror-exposed/
We’ve all known things are not right, but one now has to ask just HOW WRONG ARE THINGS!!!!!!!!!!!!!!
This stuff appears to be true and NO ONE IN THE MEDIA IS REPORTING IT< do you have the balls to do so?
Trap,
I posted a link and video about thois very thing Yesterday on the site. This is big and could crash the house of cards faster than anyone thinks possible. Thank you.
Greg
What really boggles the average American Joe on the oil prices, is the fact that in 2008 when a barrel of oil hit the $148 mark (+/-) and fuel topped the $4 a gallon mark, the domino effect in commodities rose as well. But to make a point even clearer is, the price of oil a barrel, dropped drastically enough to bring fuel prices down to around $1.50 a gallon by the end of 2008.
The commodities and normal everyday costs for food, retail goods and every marketable daily needs, stayed at the high prices established when the barrel of oil was at it’s highest.
In comes Obama and the recession!
The gradual rise in oil is back, and the above mentioned domino effect goods continue to climb above and beyond the 2008 prices! It makes no sense or does it condone the Stock Market and OPEC to put a cap on this serious problem!
All I really see in the numbers (dollars) game, is the fact that we are spending more money to drive and less money to buy anything else that Americans used to believe was a lifestyle worth living on! Every US Dollar spent on oil and everything connected to it is leaving the country. This recession will become the greatest economic disaster in the history of the world as we know it!
It will never end nor will it put people back to work. Nobody can afford to drive to work anymore, go out to movie and a dinner, take your kids on a vacation or buy enough food and water just to get by on, regardless of what Washington or Congress can ever try to resolve!
Just a thought on inflation, just look at the price of a can of coffee. It was between 5 to 8 dollars a can now anywhere between 8 to 13 dollars a can. Maybe it would be something to stock up on for barter as americans drink alot of coffee.
Greg I found this on infowars.com
im sure you already know.
http://www.infowars.com/sp-officially-downgrades-greece-credit-rating-to-selective-default/
Kudos Mr. Hunter: Outstadning report.
President Obama’s Energy secretary Mr. Chu told the Wall Street Journal in September of 2008, ““We have to figure out how to boost the price of gasoline to the levels in Europe.”
It appears they have “figured it out.” Pea green Obama will have us starving and freezing in the dark.
Communist Revolution Coming To Your Neighborhood.
http://www.magnifiedview.com/2011/10/18/occupying-wall-street-style-uprisings-and-the-arab-spring-revolutions/
Right on Mr.Hunter > Write on! Cordially, Yoda
P,S, “May you live in interesting times.” Ancient Chinese curse.
The ADL was created in response to Jewish factory manager Leo Frank’s rape and murder of a 13 year old girl. Frank was hanged by the public, and the Anti-Defamation league was established to ostensibly protect the image of American Jews. “Anti-Semetic” is used as deflection as admitted on video by a former Israeli government official. She says, “In Europe we say ‘Holocaust’ and in America we say ‘Anti-Semite”. These are historical facts, no one’s opinion, so whether or not your site will print unadulterated history is up to you. An attack on predatory behavior is not an attack on religion. Institutional religion relies on fear to generate obedience to thinly-disguised state doctrine. There is one state-owned bank in the US, the Bank of North Dakota, and all others are forced to beg funds from the Federal Reserve, which is firmly in Jewish hands. Goldman-Sachs is one of the dozen private banks that comprise the Federal Reserve. Gasoline, traded as a commodity, is hyperinflated from wellhead to supertanker to gas pump by Wall Street, also a Jewish concern. Your site represents itself as a watchdog, yet you shy away from documented fact confirming overwhelming Israeli control of American gas prices. Perhaps you are unaware of past and current litigation, supported by volumes of Discovery, detailing the criminal infrastructure of Wall Street or the FED. Please reference: “Walmart vs. The United States”. Thank you for your response.
amicusbriefs,
I am not going to allow this site devolve into one that attacks and blames one religion or race for all the worlds’ problems. The premise that one religion is the cause of the all the problems in the world is absurd and helps no one. The Fed system was voted in by Congress in 1913. How many Jewish people were elected to office in House and the Senate 1913? My guess is not many. Plenty of blame to go around for the world troubles. I am for a complete audit of the Fed on a regular basis, but Congress will not institute one. On top of that it gave the Fed more control after the 2008 collapse. How many people (who voted for this) were elected to Congress today that are Jewish? My guess is not many. So who’s to blame? Your point on public banking is valid, blaming one religion for the worlds problems is not. I will not yield on this point.
Greg
Greg,
You are such an upstanding guy to not concede to religion and race bashing. You are also right, there is more than enough blame to go around for the current world crisis. The blame game just gives someone power over someone else. We have been so manipulted in the name of terror and now it is hate and blame the wealthy. Blame anyone, but don’t look for the root cause.
Very un-American.
Thank you Jan for your comment and support.
Greg
Owww, much too much. Please, what is your point?