World Bank Whistleblower: Fiat Currency US Dollar Is Now Worthless, Will Crash

An honest former official at the World Bank opens her mouth and speaks, stuns the world, and causes this author to wonder: How long will this woman be alive before she is permanently silenced?

This video news report via RT.com news is about a month old, but I feel that what Karen Hudes is saying is VERY MUCH worth hearing. It needs to be shared as well. I was especially interested in hearing Karen’s comment’s about an international “super-entity” which she stated now owns al of the major media outlets of the world, 60% of all market shares and 40% of all hard assets. If this is true then this “super-entity” now effectively controls the assets of the nations of the world. Is she referencing the Illuminati? She made some staggering statements about vast sums of wealth and assets being transferred to the Vatican during this interview, which is jaw-dropping over all.

Ms. Hudes also made an absolutely staggering comment about the amount of gold bullion now in storage in Hawaii by the Bank of Hawaii: 170,000 tonnes, more than the [supposed estimated ] world supply of gold bullion.

Feel free to share.

Related Video Report:

Tags: dollar collapse, US economy, financial collapse, Obama presidency, Obamacare, World Bank, Karen Hudes, federal deficit, price of gold, price of silver, financial collapse, US banking cartel, corruption, international economy, Vatican, fleecing of America, financial manipulation world markets, financial corruption, Jesuits, quantitative easing, Federal Reserve, Bank of Hawaii, precious metals, Bank for International Settlements, BIS, LIBOR, usury, fiat currency, hyper-inflation, SEC, Security and Exchange Commission

President’s Remarks: October 17th 2013

The president spoke this morning as if the problem of US deficit spending had been solved. NOT.

Kicking the can down the road for another 90 days is a stalling and delay tactic, a band-aid applied to a broken leg. We will face this entire scenario ALL OVER AGAIN on February 7th 2014 when the US government again reaches it’s spending limit. The underlying hemorrhage of excessive federal spending has not been stopped, and the deal that’s been reached could not even pass as a makeshift tourniquet.

See http://www.politico.com/multimedia/video/2013/10/obama-on-debt-and-shutdown-deal-full-remarks.html

How Will the World Economy React Now That the United States is Flat Broke?

Once upon a time the byline of the United States was “The buck stops here.” Now our nation’s byline might read: The bucks have now stopped. Period.

In a probable escalating chain reaction scenario, where we suppose that the US economy is the biggest and ‘brokest’ economic domino, the first domino standing in the chain, thus the first to fall, and in a world where the economies of dozens of nations, if not hundreds, are melded to the rise or fall of the US economy and the value of the US dollar, the inevitable tipping point which causes the first domino to fall [ that domino being us ] would theoretically be national bankruptcy.  Aren’t we at that point NOW? Isn’t the theoretical literally becoming actual?

I’m not an economist, but I’m not blind either. Looking at charts which graphically display the sheer enormity and magnitude of the nation’s debt is not just sobering, it’s frightening. This would make a prepper out of anybody, even if they were the most liberal of extreme liberals who believed that leaving the printing presses running 24-7 was a solution to this problem. The United States has spent itself into bankruptcy in the 13 years since Bill Clinton left office. There really is no pretty way to say this.

Two reckless “fly-by-the-seat-of-our-pants wars in the Mideast, the burden of Medicare and entitlements, the ever soaring cost of just paying the interest on existing debt, and the never-ending WASTE which goes on have combined to create the perfect storm of national indebtedness, teetering on the edge of the cliff. I found some charts which portray the sheer enormity of the debt cliff this morning. The first chart doesn’t cover the Obama presidency, but have a look at what George W. Bush did while he was in office.

I also noticed that many of the other charts have omitted factoring in the Obama years. I wonder why that is. As you go deeper into the jungle of charts, you soon find out.  A few years back the Heritage Foundation had warned that Obama’s plan for governing would double the national debt. In fact, it has now more than doubled.

The third chart shows that under Barack Obama the national debt went from 5.8 trillion to 14.3 trillion in just four short years. Many estimate it’s now at 17.5 trillion dollars. It’s absolute madness and anyone with an ounce of common sense knows it cannot go on this way.

Something has to give.  When the biggest, brokest domino called the US of A finally teeters and falls, the entire world will fall with it. That’s what IMF head honcho Christine Lagarde is worried about. I’ll be she’s a robust prepper herself in her time off from the IMF.

https://21stcenturyscreenshots.files.wordpress.com/2013/10/91e3f-natl_debt_chart.jpg

https://i2.wp.com/www.truthfulpolitics.com/images/us-federal-debt-by-president-political-party-2010.jpg

https://i1.wp.com/forexnewsnow.com/wp-content/uploads/2011/08/FOREX-NEWS-NOW-US-Debt-Ceiling1.jpg

https://i0.wp.com/www.truthfulpolitics.com/images/us-federal-debt-percentage-gdp-by-president-political-party.jpg

https://i2.wp.com/voluntarysociety.org/conditioning/images/us-national-debt.gif

I have to admit I got kind of addicted to looking at these charts and graphs. They really don’t lie. Presidents lie. Congress, the Senate, individual politicians – they all lie. The numbers don’t lie. Here’s more:

https://i2.wp.com/blog.heritage.org/wp-content/uploads/special-debt-by-administration-793x1024.jpg

https://21stcenturyscreenshots.files.wordpress.com/2013/10/59967-currentpolicyinsustainablegraph.jpg

https://i2.wp.com/www.americanthinker.com/blog/Dow%20roller%20coaster.jpg

https://i0.wp.com/charlestonteaparty.org/wp-content/uploads/2011/01/NationalDebtChart-Feb-09.png

https://i2.wp.com/www.frugal-cafe.com/public_html/frugal-blog/frugal-cafe-blogzone/wp-content/uploads/2010/04/national-debt-skyrocket-600.jpg

https://i2.wp.com/static.seekingalpha.com/uploads/2010/12/14/saupload_a_us_annual_gdp_national_debt_1791_2010.png

 

https://i2.wp.com/lenpenzo.com/blog/wp-content/uploads/2013/02/NationalDebt1.png

Article cited from Bbc.co.uk.com:

IMF head warns US debt crisis threatens world economy

IMF head Christine Lagarde says it is “mission critical” that the situation is resolved

IMF managing director Christine Lagarde says failure to raise the US debt ceiling would be a far worse threat to the global economy than the current shutdown.

The shutdown is due to a budget standoff between President Barack Obama and Congress.

But a worse problem looms: the US will run out of money if there is no agreement to raise the borrowing limit.

Ms Lagarde’s comments were echoed by the US Treasury.

It says a debt default could lead to a financial crisis as bad as 2008 or worse.

Mr Obama emphasised that gloomy message in a separate speech on Thursday.

“As reckless as a government shutdown is, as many people as are being hurt by a government shutdown, an economic shutdown that results from default would be dramatically worse,” he said.

“Start Quote

A default would be unprecedented and has the potential to be catastrophic”

US Treasury report

‘Mission critical’

Mr Obama and Congressional leaders have been in political deadlock for days, which has had the effect of freezing non-essential US government functions.

The US government closed non-essential operations on Tuesday after Congress failed to strike a deal on a new budget.

The shutdown has left more than 700,000 employees on unpaid leave and closed national parks, tourist sites, government websites, office buildings, and more.

For US economic watchers, a widely tracked indicator – the monthly US jobs report – has been delayed due to the shutdown, it was announced on Thursday.

However, while this budget crisis rages in Washington DC, another, more dangerous, one looms in the coming weeks.

On 17 October, the US government will run out of cash to pay its bills – unless the debt ceiling is raised.

In a speech looking ahead to a decade of challenges for the world economy, Ms Lagarde said that the US government needed to fix its finances for the long term.

She said it was “mission critical” that the US agrees a new debt ceiling.

But as she has often said before, there should not be too much change in the short term because that could undermine the economic recovery.

debt graphic

Cautiously positive

On the prospects for the world economy in general terms Ms Lagarde was cautiously positive.

She added that, although the global economic outlook remained subdued, there were signs that growth was looking up and financial stability returning.

She said not only was the US picking up steam, but the eurozone was too, with a growth forecast of 1% next year. Even Japan, she said, was beginning to improve – albeit all three areas needed to make policy changes.

The IMF’s latest economic forecasts will be released in a few days and will give a more detailed view of global economic health and prospects.

‘End this shutdown right now’

Mr Obama says the shutdown can end “right now” if Mr Boehner calls a vote

To ensure that the shutdown impasse does not bleed into negotiations over the debt ceiling, Mr Obama used his speech to call on the speaker of the House of Representatives, John Boehner, to bring a spending bill to a vote.

“Take a vote, stop this farce, and end this shutdown right now,” implored Mr Obama, speaking from the floor of a construction business that has been hurt by the shutdown.

Mr Obama added that in his view, unlike budget battles of the past, the shutdown was not about ideological differences relating to how much the federal government should be spending – noting deficits have been falling at their fastest pace in 60 years.

“This not about spending and this is not about fiscal responsibility, this whole thing is about one thing: the Republican obsession with dismantling the Affordable Care Act,” he said, citing his signature domestic legislative achievement, which expands health care coverage for millions of Americans.

Impact ‘more than a generation’

In its report, the US Treasury warned: “A default would be unprecedented and has the potential to be catastrophic.”

“Credit markets could freeze, the value of the dollar could plummet, US interest rates could skyrocket, the negative spillovers could reverberate around the world, and there might be a financial crisis and recession that could echo the events of 2008 or worse.”

The report said that if this were to happen, the impact could last for “more than a generation.”

Already, the cost of US borrowing in the short term has increased.

Essentially, the US government is paying less to borrow for six months than it is paying to borrow for one month – an indication that investors are worried about the near-term prospects of a US debt default on 17 October, which would put the security of one-month Treasury bonds in doubt.

Some bank analysts have termed the next month the “debt ceiling danger zone”.

Traditionally, investors view this as an “inverted yield curve” which is typically viewed as a harbinger of a recession.

The current shutdown is costing the US economy an estimated $300m a day.

According to Goldman Sachs, it could shave as much as 0.2% from GDP each week the government is closed.

Irate Hampster On a Treadmill, On Acid, Chasing a Carrot, Which is Actually a Hologram

The national debt has increased by 88% under Obama’s watch.

The United States government must  borrow 3.9 billion dollars a day to stay in business. 41 cents on every dollar the US https://i1.wp.com/i.telegraph.co.uk/multimedia/archive/01909/dollar_1785607c_1909990c.jpggovernment spends is borrowed.

The citizen reporter in the first video below shares many of my views on the incredibly reckless colossal amount of debt which has been taken on by the US government since Barack Obama took office. The national debt has increased by 88% under Obama’s watch. I had often mused several years back that what I saw Barack Obama’s administration doing was exactly what a president would do if he deliberately WANTED to destroy the currency of a nation for decades to come in the future.  I can find no other explanation for the Obama administration’s fiscal policy that makes any sense to me. It’s stomach churning.

The currency of a nation is it’s lifeblood. Once it is ruined through deliberate intentional debasement a chain reaction ensues which cannot be turned back. I felt relieved when I watched this first video and saw that another citizen reporter also sees what I see and is reporting on it. You cannot intentionally debase the currency of a country for years without paying the piper at some point. Hyper-inflation will eventually ensue [ $10 usd for a loaf of bread, $14 per gallon gasoline etc. ] and pandemonium will follow.

This is not a “democrat vs. republican” issue. This will soon cease to even be a “political” issue at all and will become an “economic survival of the nation” issue. I found it fascinating that at least one of the heads of the FederAL Reserve out of Kansas City stated she will not go along with another raising of the nation’s debt limit.  I wonder how that’s going to go over.

If you don’t comprehend what exactly is taking place regarding the “federal debt” – imagine this:

You are dangerously under-employed, but hanging onto a part time job for dear life. You owe Tom, Dick,. Harry, and Mary more than $15,000.00 in credit card debt and the meter is ticking.  You presently have a lousy part time job and about $30 left in all your bank accounts. You have 3 cans of soup in the pantry. You have a flat tire and a busted clutch on your car. Someone sends you a credit card offer for a new credit card with a $20,000.00 credit limit. You already owe at least $15,000.00 in past due bills.  What do you think the odds are that you will turn down that credit card offer?  You https://i0.wp.com/media.reason.com/mc/arandazzo/2012_08/Consumer_Credit_Debt_080912.jpghave practically no income to speak of, a mountain of debt, and someone somewhere is ready to loan you MORE money on time-interest payments. Taking on yet another credit card will possibly keep your boat afloat for about 6-12 more months – if you are cunning, frugal and very lucky. So you take the bait and take out the card.  More shit happens. You quickly consume the $20,000.00 in about 3 months paying down some of the biggest old debts, their accrued interest, and paying interest on other new credit cards. Now you are $24,000.00 in debt rather than $15,0000.00 in debt.  Another credit card offer arrives in the mail for $35,000.00 at 24% interest. Lather, rinse, repeat.

It’s a never-ending cycle of sinking deeper and deeper into new debts to service the old ones. That’s exactly where we are as a country: flat ass broke and borrowing our asses off every month.  Your great great grandchildren will still be paying off the 13.9 trillion dollar federal debt if the madness doesn’t stop soon. If you see any brilliant solutions coming out of DC that don’t involve creating more money [ debt ] out of thin air, be sure to let me know. This I gotta see. I threw in some other interesting videos I found this afternoon.

If you and your family live in the midst of a large metropolitan urban area, make plans NOW to get out just as fast as you possibly can. Set up a rural retreat and make a bug-out plan. The toothpicks and band-aids which are now holding this whole train wreck together are fraying by the day. Make your contingency plans now.

Tags: corporate fascism, federal debt, federal deficit, debt default, dollar collapse, compound interest, hyperinflation, civil unrest, preppers, deflation, inflation, America in crisis, economic collapse, economy, top 5 most dangerous cities, personal financial survival, rural retreat, preparedness

Federal Budget Deficit to Reach 57% of US National Gross Domestic Product by 2058

The average American citizen can do one of two things in response to this chart below:

1) Stick your head back in the sand, vote for Barack Obama again, and resign yourself to a future wherein your children, grand-children and possibly your great grandchildren will be born into a society where their lives are burdened with a tax debt so huge that they may or may not even be able to keep 40% of their wages, from the cradle to the grave – as that’s IF the United States of Debt lasts that long.

2) Get your sorry ass out to the polls on Nov 4th and vote for the other guy – Mitt Romney – and hope like hell that Romney has a plan to divert  this fall over the cliff of debt in time to avoid fiscal calamity on a scale never seen in the USA at any time in history.

See the original report here: http://www.heritage.org/federalbudget/federal-budget-deficits