Zimbabwe inflation rate hits 11.2 million %
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We (the American taxpayer), in just a very short span of time, are now on the hook for $8.6 TRILLION of bailout guarantees and/or monetary injections (see this link for details) and there is no end in sight. Aside from the future tax implications for our grandchildren, how long do you think it will take for OUR inflation tidal wave to crash ashore?
So where does all our bailout money come from?
The Federal Reserve (the lender of last resort) merely prints or makes a computer entry to create all this new money from nothing, injects it into the banking system or economy and then robs us of our purchasing power through the hidden tax of inflation.
Anthony Sutton, former Research Fellow at the Hoover Institution for War, Revolution and Peace, and also Professor of Economics at California State University, Los Angeles, sums up our predicament this way:
"Warburg's revolutionary plan (at Jekyll Island) to get American Society to go to work for Wall Street was astonishingly simple. Even today,...academic theoreticians cover their blackboards with meaningless equations, and the general public struggles in bewildered confusion with inflation and the coming credit collapse, while the quite simple explanation of the problem goes undiscussed and almost entirely uncomprehended. The Federal Reserve System is a legal private monopoly of the money supply operated for the benefit of the few under the guise of protecting and promoting the public interest."
But The Congress is also part of this game
After the 80's S&L Crisis, G. Edward Griffin (Author of The Creature from Jekyll Island)stated:
“The Savings and Loan industry is really a cartel within a cartel. It could not function without Congress standing by to push unlimited amounts of money into it. And Congress could not do that without the banking cartel called the Federal Reserve System standing by as the “lender of last resort” to create money out of nothing for Congress to borrow. This comfortable arrangement between political scientists and monetary scientists permits Congress to vote for any scheme it wants, regardless of the cost. If politicians tried to raise that money through taxes, they would be thrown out of office. But being able to “borrow” it from the Federal Reserve System…allows them to collect it through the hidden mechanism of inflation, and not one voter in a hundred will complain.”
The more one peels back the individual layers of what had appeared to be a beautiful onion, the more one realizes the onion not only has flaws, but is absolutely rotten to its core.
Yes folks, if you haven't already realized it, our system is completely corrupted, defiled and broken. But, to the masses anyway, it's appearances that really count and our new saviour will fix everything come Jan 20 2009...