The Tonka Report

Real News In A Changing World

Frauds And Scandals Follow The Collapse Of The Financial System

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April 29, 2010: Bob Chapman / The International Forecaster – April 29, 2010

As the world faces an ongoing sovereign debt debacle we see an attempt to defuse an oncoming scandal involving Goldman Sachs, Paulson and perhaps others.

The collapse of the fiat money system is underway and each day picks up momentum. The only question is how long it can survive? In the interim we are faced with inflation and perhaps hyperinflation as the privately owned Federal Reserve and other central banks add stimulus and money and credit into their financial systems.

America’s system of finance and economy has been deliberately destroyed via regulation, illegal immigration and free trade, globalization, offshoring and outsourcing. We wrote about these issues and tactics as long ago as 1967. Taxes on both individuals and corporations are still onerous, the exception being the rich who pay far less than their fair share. By the way taxes will increase in the future and government may in the future attempt to take away your retirement plans and replace them with guaranteed annuities. We ask how can a bankrupt government guarantee anything? America and the rest of the world are realizing that you cannot live beyond your means indefinitely. The resultant poverty that eventually results is accompanied by the theft of wealth by inflation, subtly and secretly.

We have witnessed over the past few years a long line of frauds that usually accompany the collapse of a system. They are accompanied by government malfeasance and the arrogance of those who defraud the system with impunity. How can any nation survive if their currency and their bonds are worthless?

Someone’s loss is someone else’s gain and in this turmoil you can do two things. One is to protect your assets and the other is to capitalize on your knowledge. Do not allow the elitists to take your hard earned savings. It is our belief that 60% of sovereign debt will never be repaid.

The government is injecting a minimum of $1.5 trillion into the economy each year, as the Fed is adding at least $1 trillion. We are facing an end to stimulus and further Fed injections. If that happens it will thrust the US economy into a great dark pit a year from now. Then the insolvency of banking, Wall Street and government will become very apparent. What government has done is lie about everything, especially the amount of money they have thrust into the economy, via bailouts of the entire financial sphere and the manipulation of markets. If they had not done what they did the system would have collapsed long ago. What they have done has only delayed the inevitable. As we look back 50 years all we have seen is one crisis after another. There has never really been a meaningful recovery. The result is that Keynesian economics has had the American economy on a roller coaster going nowhere. We have wasted opportunities and have destroyed our financial and economic structure to provide for the enrichment of the elitists who from behind the scenes control our economy and the world economy. G-20 debt is staggering, never mind US debt and worse yet, it is unpayable. The so-called recovery we are having is a sad joke. We have just had an interlude in an inflationary depression. The next phase is higher taxation and even more government control. Need we remind you that fascism is government by regulation and this is what we have in America today? Its evolution is a subtle, secret, strangling process. If only people would read the history of Europe during the late 1920s and throughout the 1930s and 40s, you would truly understand what is in process. You must remember Hitler was created at Versailles. Illuminists in the US, UK and across Europe financed both Hitler and Mussolini. Both did not have a clue they were being set up. This is the same thing that is happening in America today and in other countries as well.

We face one round after another of creative destruction. That is why we have real unemployment of 22-1/8%, almost as bad as during the 1930s. Banks are only selectively lending, so as a result the economy cannot grow. Inflation is 8%; wages are static, so buying power has been crippled. This predicament should be called corporatist fascism or socialism for the elitists and as a result 92% of small business polled said they see no recovery for 14 to 18 months. How can those who hire 80% of workers create new jobs – they cannot and won’t. That means there can be no sustained recovery… (Read more at the link below.)

The Tonka Report Editor’s Note: Quite a long read but nonetheless, imperative to understanding the true state of the economy and why… – SJH

Link to entire article below…

http://www.infowars.com/frauds-and-scandals-follow-the-collapse-of-the-financial-system/

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