This is a simple lesson in how the current administration and its willing accomplices in the mainstream press ‘spin’ the unemployment facts into so called ‘good news’.
What all Americans will hear on their alphabet channels tonight is that the unemployment rate has dropped to 5.3%, such as this AP headline today “US Employers Add 223K Jobs; Jobless Rate Falls To 5.3 pct”. Great News! WhooHoo!!
As unusual, nearly all economic news is slanted to the ‘good’. Thus, many or most Americans have no clue (because they don’t dig below the surface of today’s propaganda) that REAL unemployment is much worse.
Here’s another fact about this so called good news, something that you will not hear on tonight’s news, and it’s not so rosy a picture…
Greek crisis: ‘We rely on imports. Soon even the most basic goods won’t be available’ as all banks in Greece remain shut apparently until at least Thursday as ATM’s run dry and store shelves around the country have emptied. Social unrest is looming…
The Greek finance minister has just confirmed it will default TODAY.
Greece will NOT pay its IMF payment.
The Bank of International Settlements (BIS), the central bank of central banks, has just warned that the world is defenseless against the next financial crisis…
(Please read that again.)
The NYT has just reported that the default wave has jumped the Atlantic and has hit Puerto Rico whose governor has concluded that the commonwealth cannot pay its roughly $72 billion in debts, “The debt is not payable.” “There is no other option.” – an admission that will probably have wide-reaching financial repercussions…
In US “capital markets” virtually all the same hedge funds who are ‘long’ Greece (on hopes of some central bank bailout), are also long Puerto Rico. Quote: “…some of the most “respected” US hedge funds will suffer a gruesome bloodbath.” (NYT)
The Chinese market is in an all out crash – The Shanghai Composite was down nearly 20% in just four days as the Chinese Plunge Protection Team finally arrived and ‘threw the kitchen sink’ at the stock market, deciding to go ‘all in’ stocks. This led to an unprecedented 11% swing from the lows – this was the single biggest intraday swing since 1997 and the largest point swing since 1992! China’s markets are imploding…
It seems the collapse is picking up steam…
During 2011 an endowment which oversees funds held by the University of Texas System and Texas A&M University, had taken possession of physical 6,643 bars of bullion gold, or 664,300 ounces, in a Comex-registered vault in New York owned by HSBC, a London-based bank (as opposed to ‘paper gold’ as in the Exchange-traded Fund, ‘GLD’).
And now, in 2015, Texas Governor Greg Abbott has signed a bill (HB 483) into law on Friday, June 12, that will allow Texas to build a gold and silver bullion depository. In addition, Texas will repatriate their $1 billion worth of bullion from the Federal Reserve in New York to the new facility once completed.
The writing is on the wall – institutions are losing faith and trust – and are transitioning or converting into ‘physical’ ‘real’ money, before it’s too late…
The entire (financial/economic) system is built on trust that the system will work, and the banks are well aware of this and are exploiting it. The bankers can rig everything.
“The corruption is so extreme with metal manipulation, currency manipulation and banks that continue to be brought up on charges, and no one goes to jail…It’s unbelievable fraud to such an extreme it is frightening” says Gregory Mannarino during an interview with Greg Hunter. “This is why no bankers are brought up on charges. This is why no one gets handcuffed and no one gets arrested because it would shake the very foundation of the financial system. It is built simply on a trust mechanism.”
Mannarino goes on to say, Not only are things getting close, but we are here now.
This is it…The collapse is now…
Everywhere you read lately (in the alternative news media, the financial blogosphere, and alt-news & preparedness blogs) it seems that there has been an incredible ratcheting up of economic doom in our near future. So many people have a ‘feeling’ (and are vocalizing) that something ‘bad’ is about to happen… anywhere from the next several weeks, to this summer, to September (the Shemitah?). Do you feel it? (seriously, do you? let us know…)
Just look at some of the recent headlines the past few days:
Economy Is Unsustainable – Dramatic Shifts Ahead, “The economy cannot grow exponentially indefinitely in a finite world” (Chris Martenson)
“This is HOW People Will Lose EVERYTHING…” “This is going to be an overnight or over the weekend type of event” (Bill Holter)
“Bank Accounts will be frozen; spontaneous collapse coming,” “The next financial collapse will resemble nothing in history…” (Jim Rickards)
“The world economy is like an ocean liner without lifeboats” said chief economist Stephen King of HSBC (London based ‘Hongkong and Shanghai Banking Corporation’ – the world’s third largest multinational bank by assets).
“Whereas previous recoveries have enabled monetary and fiscal policymakers to replenish their ammunition, this recovery — both in the US and elsewhere — has been distinguished by a persistent munitions shortage. This is a major problem.”
Translation: They are out of ammo (tricks, plugs, patches, fixes) and the next crash is going to be ‘real’ (real bad). And although many of us already know this, the fact that he said it publicly, might mean that it’s coming sooner rather than later…
I recently read a quote by Bill Hotler which rang very true.
“It takes only a small amount of force to topple someone on a tightrope.”
In my opinion (and many others) the present financial system is walking a tightrope and it’s not going to take much of a breeze to topple it. There has been wide speculation in the alt-news world and blogosphere that a major reset is coming this year, which may even lead to failure, collapse, and possibly Martial Law.