Bob Chapman: Nothing More Than Inflation, Voodoo Finance, Smoke and Mirrors — “Half of the world’s wealth has been destroyed and we still are nowhere near the bottom”

From: The International Forecaster, February 28 2009

The so-called greatest economic boom in history, which supposedly took place in the United States from the end of the early 1980’s recession to 2007, was nothing but an exercise in inflation and voodoo finance. It was a smoke and mirrors bull market based on Alice in Wonderland economics. The air is now being let out of the balloon as the man behind the curtain, the Fed Chairmen of that era, mainly ardent Illuminist Paul Volcker, and especially Mr. Bubbles, …Alan Greenspan, are now being revealed to us as the Great Oz, who in the fairytale movie turned out to be a carnival barker and balloon rider from Kansas. How utterly appropriate. So, how low will we now go? Will it be all the way down to the Dow 1,000 of the early 1970’s? Will we ride our way down to the Dow 2,000 of the late 1980’s? Or will it be down to the Dow 3,000 of the early 1990’s? Already, the past 12 years of gains has gone up in smoke, and this is just the beginning.

During this so-called boom period, our industrial base was destroyed by free trade, globalization, off-shoring, outsourcing, and both legal and illegal immigration, and we went from being the greatest creditor nation on earth to being the greatest debtor nation on earth during the Bush-Clinton-Bush triple whammy! By what definition is that a boom?! A mighty nuclear wind, generated by the thermonuclear explosion of fraudulent weapons of mass financial destruction devised by the Puppet Masters who own Wall Street, has blown away the smoke and shattered the mirrors, laying bare the fraud and deceit perpetrated against the American public and the people of the world, a boom based on snake oil salesmanship by our government marionettes, corporate sociopaths and megalomaniacal, satanic trillionaire psychopaths, the Illuminati, who are sacrificing our economy, and other developed and emerging nation-state economies around the globe, on the altar of world government.

The tide of economic tomfoolery has gone out, and the fraud and malfeasance of our government, Wall Street and corporate America have been laid bare.

We have gone from a nation of well-paid factory workers and highly skilled machinists and sensible bankers, to hamburger flippers, Walmart greeters and flimflam men who peddle fraudulent toxic waste to unsuspecting financial institutions around the world. Our middle class is being systematically destroyed and impoverished by an economy based on money created out of thin air by a fiendish device called European-style, debt-based, fractional reserve banking, and the economy is now reverting back to where it came from — from thin air — as wealth is transferred from the hard-working public to a bunch of con-artists we euphemistically call bankers and financiers, via the stealth tax of inflation and outright investment fraud and market manipulation. Bubble after bubble has been blown up and busted by the policies of our malevolent Fed, a private banking organization, much of which is owned by foreigners, and run by a group of sharks, barracudas and piranhas who have been feeding on their ignorant American middle class sheople-fish in a feeding frenzy beyond description for almost a century. Our whole economy during the so-called boom period has been nothing but a sick joke. How do you like the punch line?

The fourth quarter produced a stupefying negative US GDP of -6.2% annualized. The so-called experts at the Bureau of Lying (Labor) Statistics told us it would not drop below a negative 3.8%. They only missed by 63%, yet another outstanding performance by our regulators as they continue their cover up of Illuminist machinations until such time as the Illuminati tell them to finally let the truth out to the sucker-dupe sheople. They just hit you right between the eyes.…

As we reported a month ago, America has entered depression as has many other countries economies. Over the past 20 months half of the world’s wealth has been destroyed and we still are nowhere near the bottom and all that the monetary and fiscal authorities have tried to arrest, the financial and economic fall has been unsuccessful. Real assets have been in a small part destroyed but most of the damage has been in financial assets. In the end leverage always destroys its user. Governments, business and individuals have been in the biggest inflation of credit in history. As the use of credit recedes in the US economy, that engine of GDP, the consumer, cuts back on consumption and buying falls from 72% to 70% of GDP, heading toward the long-term mean of 64.5% and that needless to say means we have a long way to go in this depression. As the economy and living standards fall and unemployment rises the Obama administration, Congress, and the privately owned Federal Reserve are going to throw trillions of dollars more at the problem only to be again unsuccessful. The days of open-ended credit expansion are over. Banks are not going to return to their methods of business that got them into so much trouble. Making matters worse for the consumer, wages have been stagnant for years versus inflation due to free trade, globalization, offshoring and outsourcing. Wages cannot rise with output and sales because production has been sent offshore by our transnational elitist conglomerates, who then keep a good part of their profits offshore to avoid paying American taxes. The very heart has been ripped from the American economy and all that is left is a hollow shell. The profits from any resurgence in the economy will nature to these conglomerates not to the workers. Nothing has changed. There still is no response from Congress. In fact it is the furthest thing from their minds. They have been bought and paid for or compromised by the bankers and Wall Street.

The global financial structure has imploded and there is no way to fix it short of purging the system, which should have been done 20 months ago. It wasn’t done because there is another agenda and that is to bring the world economy to its knees so that the people of all nations will be forced to accept One-World Government. This just didn’t happen this way; it was planned to happen this way.

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