The economy of this nation according the best “minds” in the field is heading for a recession. However, despite what the so called experts think or say, this recession will be far different from ones that we have previously experienced for three reasons:

1. We have a monetary system that only Alice in Wonderland’s Mad Hatter could love unless of course, you are one of the international robber baron bankers who own it.
2. Our present economic downturn is not the result of uncontrollable market forces, but instead, the result of a plot which came to fruition in 1994 that was engineered by the group of criminals mentioned in Item #1 above.
3. This recession, because of items #1 & #2 will be permanent unless Americans wake up and throw off the bonds of tyranny that hold us firmly its grip.

The General Agreement on Tariffs and Trade (GATT) was passed by Congress in December of 1994 and upon its passage, the United States lost its sovereignty by becoming a member of the World Trade Organization (WTO); an organization whose bylaws make it an authority which transcends and is dominant over Congress, our President, and the Supreme Court. Upon GATT’s passage, in anger, I wrote an open letter to the people of our Nation where I said, “December 1, 1994, is a day that will live in infamy because on this day Congress wrongfully and illegally enacted as United States Law, the General Agreement on Tariffs and Trade. As a result, Congress has invalidated our Constitution, reduced our Nation to less than a sovereign status, violated the democratic principles we hold dear, and sold out the people of America.”

The justifications for GATT provided by our elected representatives in response to the above statement were that GATT will boost our economy by reducing tariffs, by eliminating barriers to American goods and services, by minimizing protectionism, and by enhancing America’s leadership position in the global economy. In rebuttal to these flawed and wrongfully contrived arguments, I wrote back that the standard of living of the American worker is among the highest in the World. In contrast, the vast majority of the World's workers are virtual slaves to their employers earning barely enough to provide their families with the essentials of life. If all tariffs and barriers to trade are lifted, the American worker will be in level competition with the low paid workers of the 3rd World who greatly out number him. This being so, logic and basic economics tell us that the tendency will be for the American worker to be pulled down to the salary level of the 3rd World worker and not the other way around. To maintain that this situation is to the benefit of American workers and our Nation is shear sophistry.

As predicted and in accordance with the willful and deliberate actions of Congress, reduced tariffs, the absence of barriers to trade, and minimized protectionism has allowed American corporations to move overseas where labor is far cheaper and environmental regulations almost non-existent. Furthermore, it has also encouraged corporations remaining here to outsource American jobs so these corporations can also take advantage of the underpaid and un-protected labor forces available in the third world. The end result of this is that employee benefits for American workers are disappearing, their earning power is being reduced, and Americans are being forced into menial jobs that remain in what is now euphemistically called a consumer economy. A consumer economy is really a service economy and what this means is that instead of the basis of our economy being the production of goods it is now the provision of services. Thus the fate of the people of this Nation, as determined by those who we pay to look out for our best interests, is that most Americans will work in positions of servitude.

“We are grateful to the Washington Post, the New York Times, Time Magazine and other great publications whose directors have attended our meetings and respected their promises of discretion for almost forty years. It would have been impossible for us to develop our plan for the world if we had been subjected to the light of publicity during those years. But now the world is more sophisticated and prepared to march towards a world government. The supra-national sovereignty of an intellectual elite and world bankers is surely preferable to the national auto-determination practiced in past centuries.” David Rockefeller in an address to the Trilateral Commission, 1991

But our situation is far worse than described above because of our monetary system. If you ask the average American where money comes from, their response will be from the government. This belief is true to the extent that our government prints our money, but this is where its involvement ends. Money at the national level comes from debt or more specifically, the national debt. When our government needs money, because it created the Federal Reserve System in 1913, it borrows this money from the Federal Reserve Bank which, despite its name, is privately owned. In other words, instead of creating money as provided for by our Constitution, Congress, by virtue of the Federal Reserve Act has outsourced this responsibility to a private corporation. As a result, our government must pay interest on money that it is supposed to create by itself for free. The money created by this unconstitutional process is called fiat money because it is not backed by gold and silver as in the past, but instead by the authority and power of the Federal Government.

Fiat money is not the only money that fuels our economy and it is only about five percent of the total amount of money in circulation. This being the case, where does the remaining ninety-five percent come from? This elusive money does not have a name because Americans are not supposed to know it exists, but for lack of something better, let’s call it debt money because, just like fiat money, it is created out of debt. Fiat money is created when the Federal Government borrows money from the Fed, but debt money is created when you or I borrow money from our bank. This is how the system works. When you or I go to a bank to secure a loan to buy a car or a house, we offer collateral to secure the loan and upon approval, the bank credits our account with the amount we borrowed. This credit is newly created money available for our purchase. Naturally, most Americans think that the money placed in our account comes from the bank, but this is not true. To be sure, the bank has the money to cover our loan, but it doesn’t put its money into our account. Instead, all the bank does is make a bookkeeping entry that creates the money we requested. Thus the bank has loaned us money that did not exist before we took out our loan and the only real value involved in the transaction is the collateral pledged by our promissory note which is an asset to the bank that they can sell or trade. While this seems crazy, the system is far crazier than this.

Once we buy our car or house, the person receiving the money from this sale will, in all probability, deposit these funds in their bank. This new deposit is an asset to the bank in question and this being the case they are allowed to make additional loans to their customers for 90% of the amount deposited. This deposit-loan-deposit process keeps repeating with ever smaller amounts so that eventually, the debt money created by the banks is ten times the original amount we borrowed. For example, if we borrowed $10,000 to buy a car, our bank conjures up this amount by crediting it to our account, thus making it available for our purchase. As a consequence of our purchase, eventually our original loan turns into $90,000 in other loans made by other banks. The money used for all these loans exists only as notations on paper, but these notations allowed those involved to obtain possessions equivalent to the sum of all the individual loans. Now here’s the rub. While the money the banker loaned us was created by the bank out of thin air, the interest that eventually will have to be paid was not created by the process. Despite this, it is an obligation we have to the bank even though they contributed nothing of real value to the transaction and only acted as a facilitator.

The Federal Government creates fiat money by borrowing from the Federal Reserve at interest and we create debt money by borrowing from subsidiary banks to the Federal Reserve at interest. The incredible truth about these transactions is that all these banks own nothing themselves and do nothing other than process our loan request. Yet they earn interest on this fictitious money even though it never existed before we requested our loan. In other words, the interest they earn is paid to them by us for no discernable reason and would not have to be paid at all if our government provided these services to us as required by our Constitution. Furthermore and even more preposterous, is that while these banks create the money we borrow out of thin air, they do not create the interest and we are left to our own devises to earn this fiat money from the general economy to pay the bankers.

The deplorable reality of our situation is that, collectively, we are like rats on treadmill running as fast as we can to reach its end where we will be out of debt. The problem is that the faster we run the faster the treadmill turns and the net effect is that not only do we not keep pace we continually fall behind. This is exactly where our Nation is today with our national and personal debt reaching astronomical figures and there is no way to stop it or ever pay it off because the interest to do so was not created by the system. Indeed, if all the money in circulation today was used to pay our existing debt, the shortfall itself would far exceed all of the money we presently have and there would be no money left for any other purpose. We would be a society without money and the banks would end up owning almost everything there is even though they created nothing of real value and just processed loans for us.

In case you are confused by all of this or think that describing these bankers as being robber barons is a bit harsh, let’s put this into perspective another way. Let’s assume that you wish to buy a modest home with no down payment for $100,000 and you opt for a 5.31% fixed interest loan to be paid off in 30 years. If you do the math, you will find that this house will actually cost you twice what you agreed to pay for it; $100,000 in principle and an additional $100,000 in interest. The point is that the bank didn’t really loan you $100,000, instead it created this money with the stroke of pen. However, you will pay them back $200,000 in real money over the course of the next 30 years. Why do we have to do this? Isn’t a one time payment of two or three thousand reasonable for this kind of service? Needless to say, a deal like the banks have would make a Mafia Don green with envy especially when you realize that he doesn’t have the government protecting his racket.

“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is now controlled by its system of credit. We are no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men.” Woodrow Wilson, 28th President of the United States, 1912 - 1920

The only thing that keeps our present monetary system from collapsing upon itself is the time lag between when a loan is initiated to when it was paid off and this being the case, the stability and continuance of our monetary system is dependent entirely upon more and more debt being created. When people slow down and stop borrowing, the economy slows and the Fed reduces interest rates so people will borrow more and thereby stimulate the economy. On the other hand when the economy improves and becomes heated, the Fed raises interest rates to slow things down. Thus, the Fed controls our economy by raising or lowering interest rates. But remember, the Fed is a private corporation owned by private stockholders. It is incomprehensible that Congress has allowed a private corporation to have total control over our economy instead of our government as required by our Constitution.

In any case, we are presently heading into a deep recession and to counter it, the Fed is reducing interest rates and even more telling, our government is going to give tax rebates to citizens in the hope that they will spend the rebate and stimulate the economy. While measures like this have worked in the past, our situation is now such that this will not be the case. Our industrial and manufacturing base is gone and because of the cost of energy, the purchasing power of Americans is taking a nose dive. We can now barely afford to live, never mind afford more debt, but debt is the only thing that keeps our economy going. The proverbial feces is beginning to hit the fan and our government pretends that what is happening to us is just another ordinary downturn in our economy. This is exactly what we should expect of them because convincing Americans to spend is the only thing that will stave off the inevitable a little longer and the longer they stave it off, the more disconnect people will have with the fact that what is happening to us today is a direct result of their greed and duplicity.

Above all other considerations, we pay our elected representatives to look out for our best interests. In 1913 they did anything but and sold us out by creating the unconstitutional Federal Reserve not to benefit us, but for the sole benefit of a group of international robber baron bankers who, at the time, had most of our Congress in their pockets. This despicable and deplorable act put us on the never ending treadmill of debt that we presently endure. Adding insult to injury, in 1994 Congress, again bowing to the wishes of this same group of criminals, passed GATT ensuring that this nation would lose its manufacturing and industrial base. This atrocious action which placed middle class Americans on par with the low paid workers of the third world has made it even more difficult to pay off our national debt contributing to our insolvency and hastening our rush toward financial collapse. The end result of all this is that, collectively, we have lost our heritage and also the ownership of our corporations, infrastructures, homes, land, and yes, even our government. We truly own none of these because of the astronomical amount of debt we presently carry. Therefore, whether we realize it or not, we are an impoverished people who own nothing and who will work as slaves for the rest of our lives for the robber baron bankers who did nothing to bring about or create the wealth and prosperity they have stolen from us.

The truly sad truth of it all is that none of this had to a happen if our government did its job as it was supposed to. Our dismal situation is the result of greed; greed on the part of the criminals who orchestrated these atrocities, but even more pathetically, greed on the part of our elected representatives who we paid to protect us while they systematically stabbed us in the back in violation of their oath of office and our Constitution. The truth is that we are not going into a recession. Instead, we are going into poverty as preordained by our New World Order masters and the elected representatives who rubber stamped their nefarious and diabolical designs. The problem is that this poverty will hold us and our children in its grip for the rest of our lives or at least until the entire system comes tumbling down upon us. Unfortunately, almost all Americans will suffer the consequences of the collapse of this house of cards. It is only the New World Order bazillionaires who will be immune because they have stolen the ways and means of insulating themselves from the tragedy that awaits the rest of us.

Presently, our lap dog media and the traitors that pretend to be our leaders want us to believe that by giving Americans a tax rebate, this will somehow get us our of this alleged recession or somehow soften it. This is absurd. Case in point, in the 1930’s this Nation and the world was in a great depression. World War II brought us out of this depression because fighting this conflict put America to work making the tools of war. We are presently fighting a war in Iraq, yet despite this the Nation is sliding into a recession. If war is a solution to depression or recession, why isn’t it working now? The answer to this question should be obvious. We no longer have an industrial and manufacturing base and as a result, all the money we spend on the Iraq war leaves this Nation and is gone. Nothing stays here to stimulate our economy. The same thing will be true for the tax rebate. Sure, Americans will use it to buy things, but most of the things they buy will be from overseas. Therefore, it will be the multi-national corporations who ultimately benefit from our tax rebate and not America and its economy.

In conclusion the Nation created by our Founding Fathers is dead. It started to die in 1913 when the international robber baron bankers took control of our money supply and economy. The final death blow came in 1994 when this same group of criminals subordinated Congress, our President, and our Supreme Court to their front organization; the World Trade Organization. Now as a direct consequence of the Federal Reserve Act and GATT, they own our corporations, our institutions, our infrastructure, our possessions, our government, our lives, and even our future. This being the truth, think about how foolish we are; we pledge allegiance to government which no longer exists and are proud to be a citizen of a nation that is only an empty shell of what it once was. And then in a final act of foolishness and absurdity, we call upon God to bless us and the self-induced delusions which keep us hopelessly enslaved.

If you wish to know more about how the Federal Reserve works and came about, following is a link to a five part YouTube video. For maximum shock value, for the first time watch them in correct order.

http://www.youtube.com/watch?v=cy-fD78zyvI