Bob Chapman: “An extension of economic peace of perhaps two years, six-months of which have already passed”

From: The International Forecaster

Deficits Funded With Monetization And Hyperinflation

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They are even moving headlong to destroy the US dollar as the world’s reserve, certainly a reversal of fortune. Since 8/15/71 this same group has been destroying the dollar in their greed for money and power by abandoning the gold standard. They knew exactly what they were doing. It is now official worldwide. The Illuminists have decreed officially that the US dollar is being phased out after they managed to destroy the manufacturing and service base of our economy via free trade, globalization, offshoring and outsourcing. A deliberate attempt to destroy our country and for transnational conglomerates to hide their ill-gotten profits in offshore entities, which pay no taxation to our government.

There is still nothing constrained about what banks and brokerage houses are doing. They are still leveraged and the credit crisis is not over. We may get a respite over the next nine months, but if $2 trillion in stimulus and increased bank loans are not forthcoming, it won’t work. If the money and credit is put into the system they’ll extend another year and if not the house will come tumbling down. Even if they expand that will be negatively affected by selective higher interest rates, withdrawal of government loans and a cutback in money and credit, which is already in process.

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The recovery that is supposedly underway is nothing more than a parallel movement born of false stimulus, that will last several months and will become a beacon for another such plan in 2010 funded by Congress and increased bank lending. In all, the plans could buy an extension of economic peace of perhaps two years, six-months of which have already passed.

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