- By Bob Chaoman - Train Wreck of the Week - January 28 2006

Banks planning for the worst... China plans... Nuclear Iran... foreign policy failures...

We are curious why some banks are instructing their employees how to handle customers in the event of a collapse in the US economy - specifically telling employees that only agents from the Department of Fatherland Security will have authority to decide what belongings customers may have from their safe deposit boxes and that precious metals and other valuables will not be released to US citizens. The employees are told not to tell anyone but they have. Ask your banker next time you visit him or her. Don’t get too pushy if you can’t get an answer as FEMA has facilities in their concentration camps for one million people. If you have valuables such as gold and silver coins and bullion in a safe deposit box get them out. Buy a safe and keep them at home or bury them. We were told about ten years ago by a banker that we couldn’t keep currency in our safe deposit box. You have to remember that George and the neocons are above the law. They have the Patriot Act and they have usurped the Posse Comitatus plus secret executive orders we know nothing about. On the face of it we have no freedom left. You may not want to hear this but the outcome is now inevitable. The US will collapse economically and financially over the next several years and it will take the rest of the world with it. The war on terror is a ruse. It is being used as an excuse to control the American people and to keep them enslaved. Your only salvation financially is gold and silver related assets. Your government is not in anyway prepared to meet your needs. They do not care about you or what you think. If they cared they’d protect your borders and not allow 20 million illegal aliens to enter our country. Terrorism is a hoax; a scam and 45% of Americans have fallen for it.

Wait until China starts selling US Treasury paper in a big way. We expect that to happen after Congress passes legislation putting a 27 1/2% tariff on Chinese goods. That tariff is totally justified because China’s currency, if it were allowed to float, would be 40% higher in value as would the currencies of many other nations who have been doing the same thing.

If US, British and Israeli forces attack and invade Iran it will totally bankrupt the US sending it right over the financial edge. China will be very unhappy with nuclear fallout killing millions of its citizens. There is a fair chance China may retaliate and Russia just might join them.

There is no such thing as coincidence. The termination of the publication of M3 happens three days prior to the opening of the Iranian Bourse. The increase in M3 and credit over the past nine months has been astounding. Those numbers are important to economists and analysts. We expect an absolute deluge of aggregates, which will lead to hyperinflation and the elitist Fed and other central bankers and your government doesn’t want you to know what is going on. The Iranian Oil Bourse isn’t only about oil and euros; it is about dethroning the dollar as the world’s reserve currency. That is why we are lambasted with propaganda and disinformation in support of neocon ambitions in Afghanistan, Iraq, our Congress, the Fed and in the White House.

Why shouldn’t Iran have nuclear power? Thirty-three nations have 441 operating reactors. Israel had nuclear power secretly in the late 1950s and had nuclear bombs in the early 1960s. They had no authorization. They did what they wanted to do secretly. Seven more countries are pursing nuclear power. Why is Iran so special? Even if Iran had nuclear weapons they would not be a threat to the US or Israel. This is a propaganda campaign created to allow the invasion of Iran and the theft of its oil just as the US and UK did in Iraq. The nuclear threat is just bait, which half of Americans have taken hook, line and sinker. America has to stop the operation of the Iranian Bourse because it will collapse the imperial American empire by destroying the dollar as the world’s reserve currency. By trading oil in euros there is no reason for countries who are oil buyers to hold large amounts of dollars in reserve. In time they may be able to purchase oil in their own currencies. If little else nations want diversity in their reserves. Who wants to hold dollars that are deliberately being depreciated? Someday again dollars may be again called Continentals. What is at stake here is the world monopoly on wealth based on the power of the Federal Reserve and the Bank of England - a monopoly that has been sucking our wealth from us for generations. Our government is bankrupt and if we do not get rid of the Federal Reserve we will never be free or solvent. The system is on the verge of collapse. The only question is when? If we cannot get Congress to act immediately on our behalf you are going to lose all you own. The only safe investment now is gold and silver related assets.

Whether Americans realize it or not America is in crisis. The foreign policy of preventative war and administration economic policies have led to unprecedented and unsustainable budget and current account deficits and the further deterioration of our national infrastructure.

How can a nation of intelligent people back a White House that systematically lies to the American people about everything as a normal matter of course? Strategically the Iraq War has proven to be the greatest mistake in our history. We have more than 200,000 troops, mercenaries and contractors in Iraq living and fighting in a disintegrating situation militarily and politically that has all the factors of a civil war. Among the Sunnis alone our military is facing 300,000 combatants. You then have the population’s passive support numbering some three million. We are in a totally untenable situation militarily and politically.

Do you want to read more by Bob Chapman? There are 102 previous issues for you to read.

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