WARNING: Global Economic Free Fall — Andy Hoffman ~ SGTreport.com

Published on Sep 27, 2015

Andy Hoffman from Miles Franklin is back to document the current state of the collapse of the global economy – and the situation is only getting worse by the day. From Caterpillar to Glencore Mining, the future is as clear as it is bleak. And most American still have absolutely NO IDEA what’s in store for them as the FED dominoes of fraud begin falling. TRILLIONS have been printed with no “trickle down” in sight. Meanwhile, there is plenty of paper silver and gold, and precious little PHYSICAL – even as the 1980 inflation adjusted all-time high for silver passes $600 per ounce. The sheeple sleep snug in their beds certain that today’s debt based paradigm will continue forever. They are in for a rude awakening.

For REAL News & Information 24/7:

Music: “Complex”
(http://www.incompetech.com) Licensed under Creative Commons “Attribution 3.0” http://creativecommons.org/licenses/b…

The content in my videos and on the SGTbull07 – SGTreport.com channel are provided for informational purposes only. Use the information found in these videos as a starting point for conducting your own research and conduct your own due diligence BEFORE making any significant investing decisions. SGTbull07 – SGTreport.com assumes all information to be truthful and reliable; however, I cannot and do not warrant or guarantee the accuracy of this information. Thank you.

James Turk: Money Bubble About to Pop ~ Greg Hunter

Gold expert James Turk thinks the biggest bubble of all is long past its expiration date. Turk thinks this bubble will end like all bubbles. Turk predicts, “This money bubble is going to pop. It has to because there is just too much debt in the world. That debt has to be reconciled and, ultimately, when you are reconciling debt, it gets back to the point about collateral on the balance sheets. There is just not enough good collateral to support all of this paper money circulating out there.”

Turk also says there is way too many paper promises for the actual physical gold that can be delivered. So, in the future, Turk says, “I see a lot of these promises to deliver gold being broken and, ultimately, the only way you are going to see this being resolved is with a much higher gold price.” How high? Turk estimates, “You’ve got to be looking back to the all-time highs of $1,900 or $2,000 per ounce. We are eventually going to take those out. It’s just a question of when we do it. It’s obvious it is going to happen because gold has been money for 5,000 years and, ultimately, people will come back to gold when they realize that all these promises of bankers and central bankers really cannot be fulfilled. So, it is just a question of when that reconciliation comes. In March of 1968, the dam broke and the gold price was released and the gold price climbed for another 12 years. When the gold price finally gets released this time around, it’s going to climb for many, many more years. It’s hard to say how high it can go, but relative to the amount of paper that’s out there . . . a price several times higher than what we have today seems very, very reasonable in the long run.”

Join Greg Hunter as he interviews James Turk of GoldMoney.com.

All links can be found on USAWatchdog.com in the “After the Interview” section of this post. http://usawatchdog.com/prolonged-gold…

Andrew Maguire ~ Gold and silver takedown, why the silver market is poised to skyrocket (Editorial: Metals inventory vanishing quickly)


Andrew Maguire: Whistleblower, Independent London Metals Trader & Analyst – Andrew has 35 years trading experience, both as an institutional and independent trader. He is an accomplished veteran of the markets. In 2010 Andrew Maguire went public in an exclusive King World News interview and disclosed his notification to the United States regulators at the Commodity Futures Trading Commission (CFTC) of fraud being committed and price manipulation in the international gold and silver markets. This put him at the center of a storm for exposing what could be the largest fraud in history involving countries, banks and government leaders. LISTEN HERE

For those who would like to get more information and/or sign up you can do so by CLICKING HERE or emailing King World News



Reblogged from Following World Change



At first, when this story broke many days ago, I admit I was incredulous. But then, so many people began sending me various versions of it it became impossible to ignore, particularly when the story attracted the attention of Zero Hedge, which then wrote the following two articles about the important measure:

Writing’s On The Wall: Texas Pulls $1 Billion In Gold From NY Fed, Makes It “Non-Confiscatable”

Texas Gold Repatriation Bill Has One Message To Feds: “Come And Take It”

The reader will note that the first article appeared on June 14, 2015, and the second on June 17.

The story is huge with implications, and the first Zero Hedge article sets it all – in my opinion rightly so – within the context of the afforts of various countries to repatriate their gold, most significantly, Germany, which according to official estimates, has the world’s second largest reserves after the USA, though obviously, this is changing rapidly with India, China, and Russia buying so much physical gold. But there’s more to the story, and that lies in the reasons being advanced in Texas for the creation of a state depository:

“In a lot of cases with gold you may not have clear title to the metal. You may have a counterparty relationship that makes you a creditor. If the counterparty has a problem unrelated to gold, they can default and then you become an unsecured creditor in bankruptcy,” said Keith Weiner, president of the Gold Standard Institute.

This means you get whatever is left after liquidation, often just a fraction of the initial value of your holdings.

“This exact scenario happened with futures broker MF Global. I knew people who had warehouse receipts to gold bars with a specific serial number. But that gold had an encumbered title and they became unsecured creditors in bankruptcy,” said Weiner.

In Texas, two big public pension funds from the University of Texas (UoT) and the Teacher Retirement System (TRS) own gold worth more than $1 billion.

Being uncomfortable with holding purely financial gold in the form of futures and Exchange-traded Funds, University of Texas actually took delivery of the gold bars in 2011 and warehoused it with HSBC Bank in New York.

At the time pension fund board member and hedge fund manager Kyle Bass explained: “As a fiduciary, which I am in that position to the extent you own gold and you are going for a long time, and it’s not a trade. … We looked at the COMEX at the time and they had about $80 billion of open interest between futures and futures options. And in the warehouse they had $2.7 billion of deliverables. We are going to own it a long time. You are on the board, you are a fiduciary, so that’s an easy one, you go get it.”

Bass is implying that there is much more financial gold out there than physical, and that it is prudent to actually hold the physical.

Taking the gold to Texas would then also solve the counterparty risk. “In this case it’s going to be a depository, the gold is going to be there, they are not going to be able to lend it out and it won’t serve as collateral for other transactions of the bank.” said Victor Sperandeo of trading firm EAM Partners. “Because if the bank closes, you are screwed.”

“I think that somebody was looking at that, we better have this under our complete control,” said constitutional lawyer and gold expert Edwin Vieira, of the Texas bill. “They don’t want to have the gold in some bank somewhere and in two to five years it turns out not to be there.”
(All emphases in the original)

Note what’s really being said here:

  1. There is a lack of trust in using banks to store gold, which “in two to five years” may not “be there,” an indication, perhaps, that behind the scenes there is some knowledge in Texas that the stated gold reserves within the US depository system are not there, a story that, in the wake of our blog last week about American federal audits and the missing audit reports, would seem to have some merit;
  2. There is a lack of trust in the system vis-a-vis physical gold because of the vast difference between “paper gold” or gold contracts, and actual physical gold. In the case of paper gold, as Zero Hedge points out, there is always the “counterparty risk,” or, to put it more plainly, the risk of massive re-hypothecation and hence of other parties’ liens upon any physical gold backing up the paper;
  3. Texas has already converted various state programs to actual physical possession of gold.

But there’s more in the first article, and again, it’s worth citing in some detail:

Section A2116.023 of the bill states: “A purported confiscation, requisition, seizure, or other attempt to control the ownership … is void ab initio and of no force or effect.” Effectively, the state of Texas will protect any gold stored in the depository from the federal government.

And free from the threat of confiscation, private citizens can use gold and silver as money, completely bypassing the paper money system.

“People can legally do that with gold contracts. The difficulty is the implementation. Now Texas has set up a mechanism with the depository. We have accounts in that institution and can easily transfer back and forth certain amounts. So we can run our money system a gold or silver basis if we were so inclined,” said Vieira.

 This would not be possible if the gold is stored in a bank because of the risks of bank holidays and bankruptcies. It would also not be possible if the federal government could confiscate gold.
(Italicized emphasis added)

However, that is not at all what the bill’s sponsor, State Representative Capriglione, has in mind, according to the second article;

Epoch Times:What do you think about using gold and silver as money?

Mr. Capriglione:It’s something that’s allowed. Back in 2008 when you go and look at the crisis, it may have been rooted in subprime, but at its core what it is there is a lack of business confidence. People get scared and worried and that kind of cycle feeds on itself. [The idea is to] have something that is stable and that you can touch as opposed to being ephemeral like paper or bank money.

One of the issues in 2008 was that people would start withdrawing their deposits, which to some extent happened. And there just isn’t enough actual backing of that. What we have in this is something that people can rely on. The way we structured the bill is there are no forwards, future derivatives, lending contracts on the bullion that’s placed inside the depository. What you see is what you have. Nothing will be created, nor destroyed.

That stability helps confidence and it also provides a flight to sound money, this is going to be it.

Epoch Times: Is Texas going to have its own money?

Mr. Capriglione: Article 1 Section 10 [of the Constitution] states that this will be prohibited and we would never coin our own money. I think that’s unconstitutional.

I have bitcoins and I use it as an alternative as well. Every individual should have as many options as possible to be able to transact business. The more options individuals have the more liquidity there is, the more comfort there is, and the more stability. We don’t—and I have no intention to create our own currency, we don’t have to.

By creating this depository what we are able to do is people are able to make their transactions through our depository, completely in conformance with the Constitution.

In other words, the bill comes as close as possible to the issue of an independent currency as it can – making it possible to do so if circumstances required it, but stopping just short of doing so.

So why is Texas doing it. Well, for one thing, as the articles make clear, there is a loss of confidence in the system at the federal level and also at the level of the large prime banks. Texans can read the news just as well as anyone else, and they see the flight from the dollar on the part of the BRICSA bloc as well as anyone one, and doubtless are taking note of Russia, CHina, and India’s gold buying sprees.

So what might be going on? Here comes the high octane speculation part of the equation, prompted by the final remarks in the first Zero Hedge article:

Is this the first step down a road to secession? Notably, they’ll need that gold to establish their own country once they win the potentially imminent war with the US military which starts on Monday (Jade Helm).

*  *  *

This implicit subordination of The Fed’s gold sends a more ominous signal of rising fears of confiscation and leaves us wondering just how long before every state (and or country) decides to follow Texas’ lead? (All emphases in the original)

Now I doubt there’s any official talk in Texas of secession (though I don’t doubt there’s quiet behind the scenes grumbling there, just as there is throughout the USA). What is really of interest in both articles is the notion that the Federal government might challenge the bill, which, if it did, would automatically throw any such challenge to the US Supremes, that wonderfully ideologically polarized body that can be bought off or blackmailed just as easily as any other body in the country. In that case, a potential scenario emerges, one which, I imagine, must have the financial oligarchs’ antennae quivering and pulsing with anxiety and suspicion. Suppose that the State of Texas, in its argument, produced evidence as part of its argument to butress its reasons for the bill, that the audits of the US gold reserves and depositories are…well… in tatters. Indeed, we’ve covered this story just last week in another blog. (See MISSING AUDITS OF THE FED’S GOLD?) All Texas is trying to do is repatriate its gold (which, you’ll note from the articles, Texas has already converted state funded plans to physical gold). Now imagine at this juncture, countries like Ecuador or, much worse, Germany (supposedly possessing the free world’s second largest gold reserve, much of it in the hands of the US), filing amicus curiae briefs in any such action, to the effect of “Yea, we’ve been trying to repatriate our gold too, and haven’t been too successful, and here are our facts and figures on the matter.” Thus, their representatives could be in any hearings, and their press would not be subject to any potential gag orders. One could imagine a whole list of such countries lining up to file such briefs. Thus, in short order, things could get very interesting in a very big hurry, particularly if, as the Zero Hedge‘s first article suggests, other states follow Texas’ lead and establish similar bills.

And in fact, the Zero Hedge article is not entirely correct, for other states have passed legislative resolutions underscoring the constitutional provision for coinage of money. So, one might watch states such as Arizona, North Dakota, or Montana, following Texas’ lead by extending resolutions to the acual establishment of state depositories. Under such circumstances, with  friend of the court briefs being filed fast and furiously, things could quickly spiral into a nightmare for financial oligarchs.

The bottom line here is that this is a huge story, one which, I suspect strongly, will not diminish with time.

My thanks to so many of you that shared these and other articles about this story, and…

…See you on the flip side…

Joseph P. Farrell has a doctorate in patristics from the University of Oxford, and pursues research in physics, alternative history and science, and “strange stuff”. His book The Giza DeathStar, for which the Giza Community is named, was published in the spring of 2002, and was his first venture into “alternative history and science”.

US Dollar Resumes Downtrend, With No End In Sight

By Gregory Mannarino

Jun 17, 2015

With what appears as a Federal Reserve operating with no clear plan as to when or even IF it will move from its EMERGENCY ZIRP monetary policy now 7 years on, the US Dollar resumes it’s downward trajectory.

Have a look at this chart below of ticker (NYSEARCA:UUP).

(click to enlarge)

For the last two and a half months the US dollar has come off it’s high, and is now in a sustained downtrend after it became clear that the Federal Reserve has no intention to raise rates anytime soon. (Something I have been saying since forever now).

There remains chatter from the Federal Reserve that they will possibly raise rates by the end of this year, I say there is simply no way. Moreover, the Federal Reserve knows that it cannot raise rates as well. The rhetoric out of the Fed. Is simply an attempt to project that they still remain in control. A complete falsehood.

The simple fact is this: the Federal Reserve is NOT in control and has no clue as to what it will or will not do with regard to monetary policy and this was made crystal clear today by the Fed. Chair herself Janet Yellen today.

The downward trajectory of the US dollar as demonstrated in the chart above will remain as long as the Federal Reserve remains clueless.

Happy Trading!

Disclosure: I am/we are long AAPL.

RELATED VIDEO: Federal Reserve Failed Monetary Policy To Continue Into Infinitum. By Gregory Mannarino

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John Embry “Gold and Silver are the Cheapest Assets on the Planet” ~ Greg Hunter

How will gold and silver do in the next meltdown? John Embry, Senior Investment Strategist at Sprott Asset Management, contends, “I find stocks severely overvalued, and I find bonds more overvalued, and I would lump urban real estate into that category as well. So, traditional assets are extremely overvalued. To me, the two really undervalued assets are gold and silver. They are significantly undervalued and everybody hates them. . . . Embry goes on to charge, “I would say gold and silver are as cheap as they were when gold was $250 an ounce and silver was $5 per ounce. They are the cheapest assets on the planet.”

Join Greg Hunter as he goes One-on-One with financial expert John Embry.

SGTreport – The 7 Year Cycle & THREE DIGIT SILVER — Bo Polny

Reblogged from FollowingWorldChange.wordpress.com

Published on Jun 18, 2015

Silver & Gold analyst Bo Polny from Gold2020Forecast joins us to talk about the 252-year stock market cycle, which can be broken down into smaller 7-year cycles which Bo says, “IS the manipulation” of the markets that we so often talk about. Bo’s unique approach to precious metals analysis is regularly shared at Silver Doctors and SGT report.

In this stunning interview Bo says his research indicates that the current 7-year cycle is coming to an end in the very near future,, playing out in 2016. The result of the end of the current cycle will be a massive stock market crash and the reversal of gold and silver to much, much higher prices. In fact, Bo is the only pundit we know of who is specifically predicting three digit silver in 2016.

Bo says, “And now the cycle is about to turn… the next massive or big up leg is now set to begin… before the month of June is over a new breakout will be apparent.”

For REAL News & Information 24/7:

Music: “The Complex”
(http://www.incompetech.com) Licensed under Creative Commons “Attribution 3.0″ http://creativecommons.org/licenses/b…

The content in my videos and on the SGTbull07 – SGTreport.com channel are provided for informational purposes only. Use the information found in my videos as a starting point for conducting your own research and conduct your own due diligence (DD) BEFORE making any significant investing decisions. SGTbull07 – SGTreport.com assumes all information to be truthful and reliable; however, I cannot and do not warrant or guarantee the accuracy of this information. Thank you.


There is now mounting evidence and undeniable proof that the world is actively preparing for economic life after the death of the Dollar. The facts are now quantifiable, and for those if us who are accustomed to this moment is history where the Dollar is still technically “the world’s reserve currency” and cheap imports fill big box stores, the truth of what’s occurring globally RIGHT NOW as discussed in this interview with Miles Franklin’s Bill Holter is startling – if not downright frightening.

Bill’s recent article TRIGGERS shows how the pieces of the anti-Dollar puzzle are rapidly falling into place: The AIIB is only one piece of the De-Dollarization puzzle, another is the clearing system set to directly compete with SWIFT. While other important puzzle pieces include the BRICS bank, and the Shanghai PHYSICAL metals exchange which is set to go live very soon, potentially breaking the back of the Comex, the LBMA and the fiat Ponzi which to this point, has protected the Dollar by keeping precious metals prices artificially low through massive paper manipulation.

Holter says, I believe that the world has for the last at least two years, has been preparing themselves to move away from the dollar. But also, they’ve been isolating the U.S., isolating the West, because they KNOW a collapse is coming. And if they can isolate the Western financial system, with them outside the system as much as can be, then they can mitigate the damage to themselves.

Collapse of our current financial system is clearly coming. The question is, how bad will it get for those of us trapped in the United States, trapped holding only Dollars? Holter says, “My hope is that is doesn’t get this bad, but my suspicion is that it will get worse, where you have no access to ATM’s, credit is completely shut off, we may have power, water, electricity supply problems. What I’m going to tell you is, if you know how to, or can learn how to live like Davy Crockett or Daniel Boone, we may go through a period of time where that’s the case. I hope I’m wrong, I fear that I’m right.”

Bill’s site:

For REAL News & Information 24/7:

Music: “The Complex”
(http://www.incompetech.com) Licensed under Creative Commons “Attribution 3.0” http://creativecommons.org/licenses/b…

The content in my videos and on the SGTbull07 channel are provided for informational purposes only. Use the information found in my videos as a starting point for conducting your own research and conduct your own due diligence (DD) BEFORE making any significant investing decisions. SGTbull07 assumes all information to be truthful and reliable; however, I cannot and do not warrant or guarantee the accuracy of this information. Thank you.

David Morgan: You Cannot Stop Coming Financial Bust ~ Greg Hunter

Earlier this year, economic expert David Morgan said he thought there could be another economic meltdown this fall, and he’s not backing off. Morgan explains, “Part of it is the seven year cycle in the stock market, and seasonality plays strongly in both the metals and stock market. September/October is the time frame where you get a falloff. The stock market is so overvalued it has no relationship with physical reality. The physical economy does not match what stock prices are at all–not even close. . . . The mainstream media keeps saying things are good and all people have to do is look out their window. There is a trigger mechanism and it’s what I call financial survival instinct. . . . You cannot stop reality. The reality is we are in a debt based economic system in a scenario that has never happened before. . . . When this thing busts, it will make the 1930’s look like a warmup parade because it will not be centered in Europe and the United States. It will be China. It will be India. It will be Australia, Europe, the United States, Canada, Mexico and South America. It is going to be everybody.” Morgan goes on to point out, “It’s all about trust, and now these big banks don’t trust each other, and that was the same problem in 2008. They did not want to accept each other’s paper because they didn’t trust it.”

Join Greg Hunter as he goes One-on-One with David Morgan of TheMorganReport.com.

Smart Silver Stacking…What you NEED to know! ~ Steven Glenn

Ok, so lots of people are stacking…collecting some kind of precious metals, but that’s all they tell you. How cool it is, or how nice the box is, or how well it was packed. I want you to know why, and what to be looking for, and what to get, and why and lots more.

Signed by the Governor: Texas Law Establishes Bullion Depository, Helps Facilitate Transactions in Gold and Silver

AUSTIN, Tex. (June 12, 2015) – Today, Texas Gov. Greg Abbott signed a bill establishing the nation’s first state-level gold depository, an important first step towards gold and silver as commonly-used legal tender in the state.

Introduced by State Rep. Giovanni Capriglione (R- Southlake) and four co-sponsors on Feb. 12, House Bill 483 (HB483) will create what some pundits are calling the Texas “Fort Knox.” State officials told the Houston Chronicle that “No other state has its own state bullion depository.”

More importantly, though, the bill creates a means for transactions to occur in these metals. The bill reads, in part:

a depository account holder may transfer any portion of the balance of the holder’s depository account by check, draft, or digital electronic instruction to another depository account holder or to a person who at the time the transfer is initiated is not a depository account holder.

The new law establishes a yet-to-be-determined secure location for storage of bullion, such as gold and silver.

“Today I signed HB 483 to provide a secure facility for the State of Texas, state agencies and Texas citizens to store gold bullion and other precious metals,” said Abbott. “With the passage of this bill, the Texas Bullion Depository will become the first state-level facility of its kind in the nation, increasing the security and stability of our gold reserves and keeping taxpayer funds from leaving Texas to pay for fees to store gold in facilities outside our state.”


In short, a person will be able to deposit gold or silver – and pay other people through electronic means or checks – in sound money. Doing so has the potential to open the market to sounds money in day-to-day transactions.

By making gold and silver available for regular, daily transactions by the general public, the new law has the potential for wide-reaching effect. Professor William Greene is an expert on constitutional tender and said in a paper for the Mises Institute that when people in multiple states actually start using gold and silver instead of Federal Reserve Notes, it would effectively nullify the Federal Reserve and end the federal government’s monopoly on money.

Over time, as residents of the state use both Federal Reserve notes and silver and gold coins, the fact that the coins hold their value more than Federal Reserve notes do will lead to a “reverse Gresham’s Law” effect, where good money (gold and silver coins) will drive out bad money (Federal Reserve notes).

As this happens, a cascade of events can begin to occur, including the flow of real wealth toward the state’s treasury, an influx of banking business from outside of the state – as people in other states carry out their desire to bank with sound money – and an eventual outcry against the use of Federal Reserve notes for any transactions.

Once things get to that point, Federal Reserve notes would become largely unwanted and irrelevant for ordinary people.

While HB483 won’t nullify the Fed’s monetary monopoly on its own, it represents an important step forward in that direction.


Currently, all debts and taxes in Texas must either get paid with Federal Reserve Notes (dollars), authorized as legal tender by Congress, or with coins issued by the U.S. Treasury — very few of which have gold or silver in them.

But the United States Constitution states in Article I, Section 10, “No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts.”

The legislation in Texas takes a step towards that constitutional requirement, ignored for decades in every state. Such a tactic would undermine the monopoly the Federal Reserve system by introducing competition into the monetary system.


HB483 goes into effect immediately since it received greater than a 2/3 vote in each chamber.  The House passed it 140-4, while the Senate approved it with a 27-4 vote.  Abbott said Friday that the measure will “repatriate $1 billion of gold bullion from the Federal Reserve in New York to Texas.” The state’s gold reserves are controlled by various agencies, including investment funds tied to its public universities.




A Global Financial Reset Is Coming: ‘A Deal Is Being Made Between All The Central Banks’

central-banks-currencyThere is an unprecedented reset coming to world financial markets and if you’ve been paying attention it’s impossible to ignore the signs. In fact mega-investment funds, governments and central banks have been secretly buying up and storing physical gold in anticipation of an event that will leave the U.S. dollar effectively worthless and governments around the world angling for a new global currency mechanism, according to mining executive Keith Neumeyer.

But before the reset can happen Neumeyer, who recently founded First Mining Finance and has partnered with billionaire alternative asset investors like Eric Sprott and Rick Rule, says that foreign creditors must first deleverage their U.S. dollar debt, a move that is happening right now and is evidenced by the recent strength of the U.S. dollar.

Once these U.S. debt holders unwind their positions, however, the dollar will be allowed to crash and we should prepare for a total financial, economic and monetary realignment.

(Watch the full interview at Future Money Trends)

With the central banks now buying gold… which is quite unique… we haven’t seen that  in our lifetimes… they’ve always been sellers of gold and now they’re buyers of gold… I think there will be a reset of the financial industry… 

I think China is being allowed to accumulate gold purposefully by the American government… I believe that the Chinese need to own at least the same amount as the U.S. owns before this reset occurs. I think that there’s some kind of deal that’s being made between all the central banks behind the scenes and that’s why you’re seeing governments accumulating the metal.

I do believe there will be some kind of new currency created with the backing… and it might not be a direct backing of the metal… but it’ll be some kind of blend of currency.. it could be through SDR’s… Special Drawing Rights… or some type of mechanism… I think that’s where we’re going.

And when that reset occurs I think gold will be left to rise… and I wouldn’t be at all surprised to see three…four… five thousand dollar gold over the next five years.

Because the price of gold has been suppressed to allow governments and central banks to accumulate it cheaply, Neumeyer sees opportunity in the mining industry and that’s why his latest mineral bank project is mimicking their actions and buying up physical mining assets around the world.

And though Western mainstream media pundits argue that the recent strength of the U.S. stock market and the U.S. dollar are proof positive that an economic recovery has taken hold, Neumeyer says exactly the opposite is happening.

The reason for the recent rise in the value of the world’s reserve currency, he suggests, is a result of the massive unwinding of U.S. debt as private investors and governments around the globe know a rush for the exits is coming soon:

The view on the strength of the dollar recently is the fact that it’s short-term. You’ve got so much U.S. debt out there and governments are now getting rid of their U.S. debt and converting all the debt to local debt… that’s causing a huge demand for dollars in order to make that conversion,so this whole dollar rally is basically a deleveraging against the U.S. dollar… you’re not seeing that story showing up anywhere in North America.

Once the world is deleveraged than the U.S. dollar… then basically the U.S. dollar will crash and that will be the beginning of this new reset.

Everything, of course, is very hush-hush but, as Neumeyer explains, most of the influential players involved know exactly what is going on and they are making their moves right now to ensure they survive the coming financial reset:

The gold accumulation that’s going on… this is gold that’s outside of the system… you don’t hear about it… these are big sovereign wealth funds, these are government funds, these are banks that are buying the physical metal… they are very intimately involved in the sector and they know what’s going on.

Definitely world governments and central banks around the world are unwinding their U.S. debt. They’re trying to bring their debt home and that’s causing the upside pressure on the dollar.

If Neumeyer is right, and all the signs suggest his assessment is fairly accurate, then the recent strength of the U.S. dollar will be short-lived. Once deleveraging by governments and central banks has been completed they will unleash an economic, financial and monetary storm that will change the very fabric of the global order.

The consequences are difficult to predict, but given that these entities have been buying up gold like their lives depended on it, the notion of an ounce of the precious metal being valued at $5,000 per ounce isn’t out of the question.

You can watch Keith Neumeyer’s full interview here. To learn more about theFirst Mining Finance Corp mineral bank project with billionaire contrarian investors Eric Sprott and Rick Rule, click here.

Courtesy of SHTFplan.com

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Catherine Austin Fitts-2015 Forecast Volatile & Violent ~ Greg Hunter

Investment banker Catherine Austin Fitts predicts that 2015 is going to be “volatile and violent.” Fitts says, “I think 2015 is going to be a very rough year. I think you have to be prepared for wild swings. We’ve seen oil come down 50%.” Fitts also points out, “The creative destructive aspects are pretty scary.”

Are we going to have a big U.S. dollar devaluation at some point? Fitts says, “That’s a military question. Where the dollar comes out really comes down to both the covert and overt military capacity of the United States.”

On gold, Fitts says, “I think everybody believes they need some gold. Gold is central bank insurance. . . . Basically, what I say is you have to have a core position.”

Join Greg Hunter as he goes One-on-One with Catherine Austin Fitts, publisher and creator of the Solari Report.


We’ve Reached A “Quickening” – Rob Kirby Warns: Events Are Accelerating!

We’ve Reached A “Quickening” – Rob Kirby Warns: Events Are Accelerating! By Live Free or Die new-world-order.jpg With nation after nation now rejecting the US dollar and the Petrodollar even rejected by Saudi Arabia, Rob Kirby joins Paul Sandhu in this brand new video to share we’re reaching the inevitable moment when the US dollar is no longer used in international trade…the acceleration towards that moment is increasing. Kirby shares ‘indisputable evidence’ that the demise of the dollar is quickening and the destruction of the global financial system (US dollar centered) has occurred through ‘hubris, criminal actions, lies, deceit and obfuscation’. Will the ‘end result’ of the dollars destruction be the official beginning of the ‘New World Order’? Kirby joins in at 1 minute 25 seconds.

Dec. 02, 2014: Forensic Financial Analyst and Investigator Rob Kirby joins me to discuss recent developments that prove beyond doubt that the US dollar is fast losing its status as world reserve currency at the same time that the Petrodollar is also being rejected by nation after nation including the Saudi Arabia, the lynchpin of the Petrodollar System.

Rob Kirby Website: www.kirbyanalytics.com

The Most Important Election You Haven’t Heard Of

Source Link

by Jason Scheurer 15 Nov 2014, 1:23 PM PDT

In less than three weeks, the most important election of the year will take place in Switzerland, and you haven’t heard of it. While the U.S. focuses on the recent Republican victory, the financial markets are facing an earth-shaking event on November 30th.

This Swiss election seeks to challenge the paper currency (Fiat/Debt) system of the last forty years and possibly undermine the existing power structures of central banks across the globe by introducing the “Save Our Swiss Gold” initiative.

U.S. elections sway back and forth between Republicans and Democrats, but the monetary system never changes nor is ever up for any real debate. The monetary system of the whole world has been firmly in the hands of Keynesians’ ever since Nixon removed the convertibility of dollars and abandoned the Bretton Woods Agreement back in 1971. A positive Swiss vote would threaten this by once again providing the world with a choice between a hard (gold-backed) currency and fiat.
Up until recently, it was the Swiss who were the last holdouts against the Keynesian school of thought. Traditionally viewed as the last bastion of sensible monetary restraint, the Swiss succumbed to the siren call of “actively managed central banking” in September 2011, fixing their currency to the Euro under mounting European pressure.

Somehow, having what the world views as the strongest currency is a bad thing when everyone else is printing like crazy. It wasn’t so much the success of the Swiss currency during this Depression 2.0 but the failure of the rest of the world to restrain itself that lead to its appreciation.

Central bankers hate gold, or any hard currency restraint, because it limits their ability to tinker with the system (see FDR executive order 6102). On November 30th, Swiss voters will go to the polls to reassert their historical position of backing their country’s currency with gold, and possibly setting off a new revolution across the financial world by giving people a real choice.

Backed once again by physical gold, the Swiss public may be the first to finally say “enough” to the ongoing manipulation of the currency markets. No longer would governments be able to create limitless amounts of debt-backed currency without recourse. In response to the constant worldwide manipulations, Russia and China have been aggressively increasing their gold reserves over the last decade. Just recently, even ISIS decided that this is a smart choice as well.

This is a pinnacle moment in monetary history, not only for the Swiss who are reasserting their financial independence, but also for the whole world. What started as a referendum to return a tiny country of 8 million, with a GDP equal to New Jersey, to some semblance of financial sanity, may actually become the wake up call to the world to end the Keynesian delusion that the cure for everything is more debt. Cue the fat lady and the flying pigs.

The likes of Paul Krugman will probably kick and scream that the Swiss are making a poor decision by choosing to return to their fiscally conservative roots. He will be correct in asserting as much. It is a bad decision, but only for the rest of the world that wants to continue following along with a Ponzi economy.

If approved, the “Save Our Swiss Gold” initiative will force three very uncomfortable mandates on the Swiss National Bank and the rest of the Fiat world.

  1. The Swiss National Bank will NOT have the right to sell its gold reserves.
  2. The Swiss National Bank must hold at LEAST 20% of its total assets in gold.
  3. The gold of the Swiss National Bank must be stored PHYSICALLY in Switzerland.

Take a moment to read through these three mandates again. Should they pass, what you just read will upend the existing systems of business as usual. This is probably one of the greatest threats to the monetary establishment in years. Specifically though, it is a direct threat to the paper world of derivative trading that, by-and-large, trades at magnitudes greater than annual supply. This demand for physical delivery over cash (fiat) settlement could lead to exchange failures as the Swiss National Bank will have to purchase approximately 1,500 tons, or about 50% of the world’s current mining production, over the next five years. Meanwhile, for some strange reason, Germany has to wait until 2020 to get delivery of its own supply of minted gold, supposedly sitting under New York City.

It is important to note that before the Swiss Central Bank gave in to the Keynesians in the fall of 2011, gold was trading above $1,900 an ounce; since the “fix,” it has steadily plummeted to below $1,200–all while global debt levels have skyrocketed. A positive vote may reverse this trend.
Financial markets are a lot like poker tables, where big stacks can push even the best players around.

For a while now paper has trumped physical, but this referendum is the wildcard in the game. A Black Swan (or in this case, Gold Swan) event of this type may lay bare much of the shenanigans that have been going on in financial circles for some time now. It was only a short time ago that even suggesting that LIBOR/energy markets were being manipulated would have gotten you labeled as some kind of radical; that is, until the truth came out, and the subsequent lawsuits. Many have been wondering for years now about gold and precious metal manipulation, and this election may bring that truth to light. Global players may finally be forced to show their hands, rather than settle with cash.

The Swiss currently hold about 8% of their reserves in physical form. This is down from 43% back in 1999 when they began selling it off at decade-low prices along with the British. And as recently as 2009, it was 18%. Where is all of this gold going to come from, and will the markets around the world be able to make good on delivery when such a large buyer is made public? This standing order may provide a floor on the recently falling gold market, but more importantly, it may just undermine worldwide currencies.

For those unfamiliar with Swiss elections, the law prohibits TV and radio advertising by individuals or special interest groups to ensure that these people-driven issues are spread and debated about by word-of-mouth, not by multimillion-dollar ad buys, like they are here in America. Issues like abortion, minimum wage, and infrastructure projects are routinely decided upon directly by the people of Switzerland, not in backroom deals by politicians. This election will be free from what many describe as outside influence.

Swiss voters are hoping to soon decide the fate of their own currency. If they are successful, and recent polling data suggests they will be, they will remove control of their currency from the hands of the experts who sold off the bulk of their gold reserves at prices between $300-$500 an ounce over the last decade and a half. The once bitten, twice shy Swiss hold the fate of future monetary policy in their hands with their upcoming vote–the repercussions of which will be felt all across the globe if they vote YES..

For the outsiders, the real fun will come in the next few weeks while we watch these same Swiss government officials try to explain why restoring a sound currency, that served them very well for hundreds of years, is now a very bad idea. Their answers will likely provide fodder for Swiss laugh tracks for years. Stay tuned.

This article in no way should be considered an endorsement or solicitation to buy or sell any security.


Uncovering the Mysteries of Dragons ~ Galactic Historian


Ready to learn the secrets of Dragons?


A small while back, as I did a live Q&A show, a question about the nature of dragons sprung up.

Answering that question brought a huge response.

I was immediately able to see the potential that answering these questions would create in our reality,

and immediately released the clip for everyone to see on YouTube.

I could feel an enormous response from the Dragon energies to answer these questions on a deeper level to help

awaken and heal those who were not aware of their connection to Dragons.

In response to their calls, I created a very special video on uncovering the mysteries of Dragons.

Go and listen – this is an experience.

Learn more about the full recording at the link below.


by Rebecca Diehm from Pinterest

CBI announces delivery of 90 tons of gold to support IQD

Posted by on Apr 04, 2014

The Iraqi Central Bank, disclosed Thursday, the arrival of up to 90 tons of gold to support the value of the Iraqi dinar, stating that it contributes to the strengthening of the national economy.

The Central Bank said in a statement (term), “to buy 60 tonnes of pure gold from around the world over the past two months in order to support the national currency, dinar,” Noting that “the amount of gold reserves which currently has reached 90 tonnes.

The Central Bank, said that “on the gold reserves to support the value of the Iraqi dinar against other currencies and boost the national economy in General.”

The Central Bank of Iraq was announced last March, to purchase 36 metric tons of pure gold to raise its reserve, returned it aims to achieve “the highest levels of financial integrity” of Ira

We invite you to join us on twitter, and get the best quality news and reports on Iraq in real time.

The Iraqi Journal Team



Global banking crisis? What global banking crisis? Thousands of quadrillions of hidden monies revealed to be held in multiple off-ledger black screen accounts

Wednesday, April 25, 2012

Picture: Binyamin Shalom Bernanke – Banking System cartoon

The Committee of 300’s
shadow government banking
scam has its royal knickers
ripped off.How rich is White Spiritual Boy
now, Your Majesty?
Picture: HSBC – White Spiritual Boy shadow a/c – 1030 quadrillion US Dollars

The official audited text above is part of paragraph 132 on page 18 (here) of a Committee of 300 élite Secret Government document signed on Wednesday 10th February 2010 on page 106 (here). Page 19 of this same document can be viewed here.

The three signatories on the document are H.E. President Robert Zoellick (President of The World Bank), H.E. Vice President Lars Thunell (Executive Vice President and CEO of the International Finance Corporation) and HM Queen Alexandra Elizabeth Mary Windsor II (Chairman of The Committee of 300, The British Royal Family).

The full text of Paragraph 132 flagged in the yellow panel above reads as follows: “The Hongkong and Shanghai Banking Corporation (London, UK and Hong Kong, PROC) Account no. 0567105267802012 with account name of White Spiritual Boy and with standing balances per account worth US$ 1,030,000,000,000,000,000 with reconfirmed and reconsidered matured earnings audited by the Financial Institution of the Committee of 300 for the month of January to April 2010 worth of US$ 434,000,000,000,000,000 in the total of US$ 1,464,000,000,000,000,000 (US$ 464,000,000,000,000 had deducted automatically for bank charges and services for the first quarter of audit maturity) in the net balances of US$ 1,000,000,000,000,000,000.”

The five sums of money detailed in this single auditing rubric can be expressed as one thousand and thirty quadrillion US Dollars, four hundred and thirty four quadrillion US Dollars, one thousand four hundred and sixty four quadrillion US Dollars, four hundred and sixty four trillion US Dollars, and one thousand quadrillion US Dollars.

The sum of money deducted automatically by the Hongkong and Shanghai Banking Corporation (HSBC) from this single White Spiritual Boy account for bank charges and services for one quarter of the year 2010 was four hundred and sixty four trillion US Dollars. This compares with the total publicly acknowledged Global Gross Domestic Product of about seventy eight trillion US Dollars per year. Of this $78 trillion sum, the European Union accounts for about $16 trillion, the US $15 trillion, and China $11 trillion of the global total.

The sum deducted by HSBC for bank charges and services in one quarter of 2010 from the single White Spiritual Boy account cited above, was more than five and a half times greater than the publicly stated Global Gross Domestic Product. (464 trillion divided by 78 trillion = 464 divided by 78 = 5.9). We invite comment and analysis.

The Committee of 300’s shadow government world banking system, conducted across mainstream-media-invisible black and grey screens, is composed of thousands of such accounts, many of them named “White Spiritual Boy”. The lead signatory for each of these accounts is Elizabeth Windsor (Queen Elizabeth II of England – HM Queen Alexandra Elizabeth Mary Windsor II).

Referring to the three document images linked above (this, this and this), the Japan-based financial journalist and White Dragon Society spokesman, Benjamin Fulford, commented on Saturday 14th January 2012: “Many people involved at the high end of the financial system and members of the committee of 300 are telling me the documents I posted with Queen Elizabeth’s signature on them are forgeries by Wilfredo Sauren. Other sources also involved at a high level tell me they are genuine. I do not know, but even if they are forgeries, forgeries are usually copies of something real. Even if they are fake, there is still a huge gap between the amount of money that supposedly exists in the off-ledger financial system and the amount that is on the books. That means a lot of zeros will have to be erased before the off-ledger and on-ledger financial systems can be reconciled and reconnected with the real world.” Source here (14.01.12).

AB comments: (1) Elsewhere, Benjamin Fulford has explained that Wilfredo Sauren was a forger who used to work with the CIA. He made a lot of money cashing-in skilfully faked bonds and other high-status financial documentation.

(2) This is incidental, but the codename “White Spiritual Boy” for the shadow government’s major off-ledger black screen accounts is suggestive. White Spiritual Boy = WSB = Wall Street Bankers. And in Washington, a hitherto invisible Spiritual Wonder Boy account, privately audited by The Committee of 300 in December 2008, reads as follows in the audit document:

“1. Special Federal Reserve Board Account no. 5525525424AM with account name of Spiritual Wonder Boy and with standing balance of US$ 2, 178, 000, 000, 000, 000, 000, 000, 000, 000, 000, 000, 000, 000, 000, 000, 000, 000, 000 reconfirmed and reconsidered matured audit dated December 1, 2008 that guaranteed and reconfirmed earned worth of US$ 410, 000, 000, 000, 000, 000, 000, 000, 000, 000, 000, 000, 000, 000, 000, 000, 000, 000 from the month of October up to this month in the total of US$ 2, 588, 000, 000, 000, 000, 000, 000, 000, 000, 000, 000, 000, 000, 000, 000, 000, 000, 000.”

In plain language, in 2008, the US Federal Reserve Board had an invisible account on its off-ledger books holding 2,588 trillion trillion trillion quadrillion US Dollars. That is 2588 followed by fifty one noughts.

Spiritual Wonder Boy = SWB = Secret World Banking.

Raw data: For ease of reference, 142 pages (158,000 words) of raw data about the White Spiritual Boy off-ledger black screen accounts have been compiled on a separate blog page here (12.01.12). Included on that page are bank names, account names, account numbers and balances for the following shadow government conduits: White Spiritual Boy accounts, Spiritual Wonder Boy accounts, Spiritual Ally accounts, Spiritual Allied Forces accounts, Morning Star accounts, Spiritual Maria Cristina accounts, Unknown Man accounts, Falcon 1 to Falcon 21 accounts, Croplands account, Walnut account, and Peter Stone Account.

Question: If such huge sums of money are available to the élite banking bloodlines, why is crippling financial austerity being imposed by national governments on their populations?

And why are the elected politicians in the Western democracies keeping their electorates in the dark about these vast hidden riches, while, at the same time, they are raising taxes and cutting public expenditure on services and infrastructure?

The enquiry must be made: Is there really a global banking crisis at all? Or is the “financial crisis” just a set-up media event to provide cover for massive élite theft?

More related, and developing, geopolitical background can be found here (23.04.12), here (16.04.12), here (12.04.12), here (12.04.12), here (10.04.12), here (09.04.12), here (03.04.12), here (31.03.12), here (27.03.12), here (27.03.12), here (27.03.12), here (26.03.12), here (22.03.12), here (21.03.12), here (21.03.12), here (20.03.12), here (17.03.12), here (13.03.12), here (07.03.12), here (05.03.12), here (29.02.12), here (27.02.12), here (27.02.12), here (27.02.12), here (21.02.12), here (20.02.12), here (16.02.12), here (13.02.12), here (12.02.12), here (07.02.12), here (05.02.12), here (04.02.12), here (31.01.12), here (27.01.12), here (26.01.12), here (26.01.12), here (26.01.12), here (23.01.12), here (19.01.12), here (18.01.12), here (17.01.12), here (09.01.12), here (09.01.12), here (08.01.12), here (05.01.12 – sourced from a bilingual Japanese/English presentation here on 25.12.11), here (02.01.12) and here (29.12.11). And there is more about The Committee of 300 here and here.



The White Spiritual Boy off-ledger black screen accounts – raw data

The World Global Settlement Funds

Universal debt forgiveness and the imminent global debt jubilee

The Monaco Colloquium – August 2011

The NESARA announcements – expected in 2012

2012 Agenda for Disclosure – The opening of Pandora’s Suitcase

FINANCIAL TYRANNY: Defeating the Greatest Cover-Up of All Time – Section Four: The Occult Economy by David Wilcock

The greatest victory of the Federal Reserve cabal has been the ability to print money out of thin air. Creating 26 Trillion dollars of profits was quite a stunt.
This technology did not come easily. In order to accomplish this, it was first necessary to systematically confiscate all the world’s gold.
Despite my deep involvement in researching these subjects since 1992, I only learned about this aspect of the Federal Reserve agenda very recently — but it is nonetheless of vital importance.
This secret Western plan for a worldwide “magic printing press” began in 1776 with the publication of Adam Smith’s “An Inquiry Into the Nature and Causes of the Wealth of Nations” — or “The Wealth of Nations” for short.
This meticulously researched 786-page monster document formed the intellectual, philosophical and economic argument behind the creation of the current “free market” global financial system.
It also helped to establish the criteria and reasoning for creating the secret, “off-market” central-bank trading platforms that were backed by all the hidden, stolen gold, beginning in 1944. [I will explain how these platforms work as we go on.]
Several university websites offer a PDF version of this document for download. Here is Penn State’s version:
Though at its core, Smith’s masterwork had positive ideals, intended to create a better world for everyone, most nations of the world now feel Smith’s vision has been wildly distorted and misused within the current economic system.
Many strategies are secretly being used to combat this global crisis — including the trillion-dollar lawsuit mentioned in Part One.
This entire “Illuminati” financial system is finally breaking open and becoming public — for the first time since its inception. Much of what I am writing here has never before been available — except to a very select few on Earth.
Most scholars focus on Smith’s defense of “free market” economics. Smith argued that government tariffs and oversight will restrict economic growth. Politicians can be bought off and manipulated by big corporations, keeping prices high and quality low.
However, without government restrictions, the people will democratically “vote with their wallets” for whatever is best — and in a truly fair and open game, they will ultimately get better products at better prices.
What we are most concerned with is the argument that inevitably arises from studying Smith’s work: namely that no country could legitimately remain on a gold standard if we wanted world peace.
Even if a world leader of typical intelligence could only make it through the first 44 pages of this book, he or she would already have a strong sense of inevitability regarding Smith’s ultimate position on gold. Here are four of the most prominent examples:
First of all, if a country only has a certain, fixed amount of gold, massive inflation is inevitable. More people will be born and they will produce more stuff. That, in turn, forces you to print more money — but you don’t have more gold.
The more money you print, the less gold anyone can actually get for it. This makes their money worth less and less over time. Everyone who has paper money in the bank or stashed in their closet will find it continually decreasing in purchasing power.
This problem would inevitably cause suffering, riots and ultimately mass casualties as the public realizes their money is worthless, and / or other nations refuse to honor their currency — thereby choking them off from needed survival supplies.
Second of all, what if someone within the country feels they either own the gold or could successfully steal it — including the ruling party or some of their minions?
This individual or group — which may just be a warring, pissed-off faction within the overall power structure — could mount a sting operation, take the gold out of the country, bring it somewhere else and then defend their actions with military force.
How hard is it, really, to transport a few thousand tons of this shiny, yellow metal? How many soldiers and guards do you need to kill, in the middle of the night, as your teams swoop in and move it out — in massive shipments?
Thanks to the invention of the wheel, and the inevitable availability of large groups of mercenaries to do the work, you just send in a bunch of guys and haul it the hell out of there. With enough planning and logistics, it could all happen in one night.
By simply moving the gold from one nation to another, by whatever violent means were required, someone could instantly and completely destroy the nation they took the gold from.
Thirdly, if one country has gold reserves and others do not, they become a target for invasion.
Natural human greed and violence would inevitably doom the people in that country to invasion by others wishing to steal it.
The only way to solve that problem is to insure that no one nation has gold-backed currency.
That way the game is fair for everyone… all across the board.
Lastly, any country who does have a gold-backed currency will have an unfair advantage over other nations.
The people of the world will naturally want to invest in a gold-backed currency over any “worthless paper” counterpart.
Therefore, the powerful will only get more powerful, while the weak become systematically weaker.
The “Golden Rule” is “He who has the gold… makes the rules.”
The leaders of the world were told that eliminating gold-backed currency was the only solution to this problem. Then, money could be issued via fiat.
Though the term “fiat” is akin to saying “the Devil’s Pitchfork” to anyone who reads this sort of material, the original idea behind fiat currency was simply that it would be backed by the wealth created by the people.
Adam Smith made this point right from the beginning in The Wealth of Nations — as we can see here in a quote from page 31.
“It was not by gold or by silver, but by labour, that all the wealth of the world was originally purchased; and its value, to those who possess it, and who want to exchange it for some new productions, is precisely equal to the quantity of labour which it can enable them to purchase or command.”
In its ideal form, a nation calculates the actual amount of wealth created by a given nation, and then issues currency in proportion to that equity. With the Internet, this could be openly calculated and audited by the public with complete transparency.
In this setting, no economic collapse ever needs to happen again — and the more motivated a country is to produce wealth, the more wealth it can generate for itself. This, according to Smith’s vision, could not be accomplished with the gold standard.
According to Benjamin Fulford, the former Asia-Pacific bureau chief for Forbes Magazine who I interviewed for Part One, fully eighty-five percent of the world’s gold ended up in Asia.

The Libyan War, American Power and the Decline of the Petrodollar System

 None of this will change until the people of America turn their TV’s off, educate themselves and get off the couch and on their feet to protest in mass and “Walk Like an Egyptian” toward ever state capital in DEMAND that we switch to alternative energy sources. Aside from killing they planet with all the poking, prodding and toxic spills the oil interests also haul us off to wars that spread depleted uranium over the countryside creating genocide that lingers for MILLIONS of years. That depleted uranium used in bombs is the spent fuel from nuclear power plants, the only way they  have to dispose of the radioactive filth is by killing more people for generation, upon generation to come.

When are we going to say ENOUGH!! America could take example from the people of the middle east.

By Prof. Peter Dale Scott
Global Research, April 29, 2011

The present NATO campaign against Gaddafi in Libya has given rise to great confusion, both among those waging this ineffective campaign, and among those observing it. Many whose opinions I normally respect see this as a necessary war against a villain – though some choose to see Gaddafi as the villain, and others point to Obama. 

My own take on this war, on the other hand, is that it is both ill-conceived and dangerous  — a threat to the interests of Libyans, Americans, the Middle East and conceivably the entire world. Beneath the professed concern about the safety of Libyan civilians lies a deeper concern that is barely acknowledged: the West’s defense of the present global petrodollar economy, now in decline..

The confusion in Washington, matched by the absence of discussion of an overriding strategic motive for American involvement, is symptomatic of the fact that the American century is ending, and ending in a way that is both predictable in the long run, and simultaneously erratic and out of control in its details.

Confusion in Washington and in NATO

With respect to Libya’s upheaval itself, opinions in Washington range from that of John McCain, who has allegedly called on NATO to provide “every apparent means of assistance, minus ground troops,” in overthrowing Gaddafi,1 to Republican Congressman Mike Rogers, who has expressed deep concern about even passing out arms to a group of fighters we do not know well.2

We have seen the same confusion throughout the Middle East. In Egypt a coalition of non-governmental elements helped prepare for the nonviolent revolution in that country, while former US Ambassador Frank Wisner, Jr., flew to Egypt to persuade Mubarak to cling to power. Meanwhile in countries that used to be of major interest to the US, like Jordan and Yemen, it is hard to discern any coherent American policy at all.

In NATO too there is confusion that occasionally threatens to break into open discord. Of the 28 NATO members, only 14 are involved at all in the Libyan campaign, and only six are involved in the air war. Of these only three countries –the U.S., Britain, and France, are offering tactical air support to the rebels on the ground. When many NATO countries froze the bank accounts of Gaddafi and his immediate supporters, the US, in an unpublicized and dubious move, froze the entire $30 billion of Libyan government funds to which it has access. (Of this, more later.) Germany, the most powerful NATO nation after America, abstained on the UN Security Council resolution; and its foreign minister, Guido Westerwelle, has since said, “We will not see a military solution, but a political solution.”3

Such chaos would have been unthinkable in the high period of US dominance. Obama appears paralyzed by the gap between his declared objective – the removal of Gaddafi from power – and the means available to him, given the nation’s costly involvement in two wars, and his domestic priorities.

To understand America’s and NATO’s confusion over Libya, one must look at other phenomena:

• Standard & Poor’s warning of an imminent downgrade of the U.S. credit rating

• the unprecedented rise in the price of gold to over $1500 an ounce

• the gridlock in American politics over federal and state deficits and what to do about them

In the midst of the Libyan challenge to what remains of American hegemony, and in part as a direct consequence of America’s confused strategy in Libya, the price of oil has hit $112 a barrel. This price increase threatens to slow or even reverse America’s faltering economic recovery, and demonstrates one of the many ways in which the Libyan war is not serving American national interests.

Confusion about Libya has been evident in Washington from the outset, particularly since Secretary of State Clinton advocated a no-fly policy, President Obama said he wanted it as an option, and Secretary of Defense Gates warned against it.4 The result has been a series of interim measures, during which Obama has justified a limited U.S. response by pointing to America’s demanding commitments in Iraq and Afghanistan.

Yet with a stalemate prevailing in Libya itself, a series of further gradual escalations are being contemplated, from the provision of arms, funds, and advisers to the rebels, to the introduction of mercenaries or even foreign troops. The American scenario begins to look more and morelike Vietnam, where the war also began modestly with the introduction of covert operators followed by military advisers.

I have to confess that on March 17 I myself was of two minds about UN Security Council 1973, which ostensibly established a no-fly zone in Libya for the protection of civilians. But since then it has become apparent that the threat to rebels from Gaddafi’s troops and rhetoric was in fact far less than was perceived at the time. To quote Prof. Alan J. Kuperman,

… President Barack Obama grossly exaggerated the humanitarian threat to justify military action in Libya. The president claimed that intervention was necessary to prevent a “bloodbath’’ in Benghazi, Libya’s second-largest city and last rebel stronghold. But Human Rights Watch has released data on Misurata, the next-biggest city in Libya and scene of protracted fighting, revealing that Moammar Khadafy is not deliberately massacring civilians but rather narrowly targeting the armed rebels who fight against his government. Misurata’s population is roughly 400,000. In nearly two months of war, only 257 people — including combatants — have died there. Of the 949 wounded, only 22 — less than 3 percent — are women… Nor did Khadafy ever threaten civilian massacre in Benghazi, as Obama alleged. The “no mercy’’ warning, of March 17, targeted rebels only, as reported by The New York Times, which noted that Libya’s leader promised amnesty for those “who throw their weapons away.’’ Khadafy even offered the rebels an escape route and open border to Egypt, to avoid a fight “to the bitter end.’’5

The record of ongoing US military interventions in Iraq and Afghanistan suggests that we should expect a heavy human toll if the current stalemate in Libya either continues or escalates further.

The Role in this War of Oil and Financial Interests

Read more here:



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