From The Ramparts

The Chickens Are Coming Home To Roost

The Chickens are Coming Home To Roost

“The only thing keeping the dollar atop its fragile perch is the fact that other countries have been willing to lap up the $600 billion of American red ink every year via the trade deficit. That amounts to roughly $2 billion per day or nearly 7% GDP. Currently, China is holding $769 billion, the vast majority of its foreign exchange reserves. This is a humongous sum by any measurement and represents approximately 30% of China’s gross domestic product. Regrettably, the Bush administration’s wasteful spending makes the dollar look like a bad long term investment, so China will either have to change its strategy or face a huge loss on its reserves. It’s a thorny predicament and one that China needs to handle delicately. If they move too aggressively it could trigger a sell-off and send the dollar plummeting. It is unlikely that China will act recklessly, but even the mere suggestion of change has put the markets on edge.
Gold futures already jumped 4% in one week as large institutional buyers are voting with their feet that the dollar is headed for the dumpster. In fact, since Bush took office, gold has gone from the $200 range to $540 on Friday; a sure sign that investors have lost confidence in Washington’s ability to curb spending.” http://www.informationclearinghouse.info/article11501.htm

There are numerous problems with lies and liars. One is they have to keep repeating the lies over and over for fear the truth will come out which, invariably happens. Another common problem is, they tell so many lies they cannot possibly remember all the lies they’ve told so subsequently they trip themselves up in their own lies. This is what is happening to George W Bu$h and his NeoConartist buddies. They have told so many bodacious lies they now have to scramble to cover them with new ones. For instance they call themselves “conservatives” and Bu$h promised to bring moral integrity to Washington, be a “straight shooter”, a uniter rather than a divider, provide fiscal responsibility and security for the nation. Bu$h’s policies and “leadership” have failed miserably to keep AmeriKKKa strong fiscally or safe. Under Bu$h the nation is more divided than any time since the Civil war. When Bu$h was given the presidency by the US Supreme Court in 2000, the US was in the throws of a recession. Bu$h foolishly cut taxes benefitting the richest one percent of the population which exacerbated the growing US deficit and began a run on the surplus that had accumulated during the previous administration. So they have to lie and say things are getting better but they aren’t. They have to be more secretive and sneaky, so now the Fed has dropped reporting M3 so the masses won’t know what’s going on with the money supply, credit and dollar reserves. Bu$h’s abysmal failure protect the nation from 9-11 despite ample time and warnings from the FBI, CIA the foreign intelligence services of France, Germany, Morocco and Israel and direct warnings from foreign leaders like Vladimir Putin of Russia and Hosni Mubarak of Egypt, the NeoCons unrestrained agenda to launch their insane crusade against Islamic nations with geo-strategic oil reserves and their simultaneous domestic agenda designed to undermine the civil and procedural liberties of US citizens under the guise of “national security” are having a disastrous impact on AmeriKKKa. The chickens are coming home to roost.
Following 9-11 the world embraced AmeriKKKa with sympathy and empathized with the suffering and trauma we were experiencing. Rather than capitalize on this support and good will, Bu$h and Co. used 9-11 as an excuse to embark on a fanatical campaign of war, plunder and rapine that has utterly destroyed all the credibility and favorable opinion the world felt for the US following 9-11. The world now views George Bu$h and AmeriKKKa as a wolf, preying on the weak and defenseless. Afghanistan was invaded despite the total improbability 9-11 could ever have been executed by Islamic fanatics living in caves in Afghanistan without at least some complicity by the US intelligence, civil and military establishment! The proof of this is the glaring fact no one has been reprimanded, publicly rebuked, disciplined demoted or fired in the FAA, FBI, CIA, NSA, Joint Chiefs or any other agency charged with defending and protecting AmeriKKKa from attack! Think about the implications of this for a moment, there were absolutely no repercussions whatsoever?! At least President Roosevelt tried to make Pearl harbor appear like a sneak attack by demoting the US Hawaiian military commanders at Pearl Harbor. In Bu$h’s case General Richard Myers who was head of NORAD was even given a promotion!!! The NeoCons bum rushed their fascist agenda through Congress using fear and intimidation passing legislation that by-passed Congressional oversight and started a spending spree that is now drowning the nation in debt and demoralization as the Nazification of AmeriKKKa precedes at a quickening pace. Bu$h has stated, “You can fool some of the people all of the time. These are the ones we should concentrate on.” Well it almost worked. But now his lies and the lies and machinations of the corporate media have caught up with them. They have told so many lies, they can’t keep them straight and every day another lie is exposed and challenged. There is an Internet report on the true costs of the Iraq War. Take time to peruse it at http://www.informationclearinghouse.info/article11495.htm it will open your eyes to the monumental con job Bu$h and Co have run on AmeriKKKa.
The chickens are coming home to roost, make no mistake about it. A recent article insinuated China was considering diversifying its store of foreign exchange currencies, dropping some of the US dollars it holds in reserve. Such a move would send shock waves throughout the global economy. Even if China doesn’t do it, the hint or threat alone would be devastating considering the fact Cina helps bail the US out to the tune of two billion dollars a day because of Bu$h’s failed fiscal witchcraft. “It is becoming increasingly clear to many that the war in Iraq is about preserving a bankrupt American Century model of global dominance. It is also clear that Iraq is not the end. What is not yet clear and must be openly debated around the world, is how to replace the failed Petro-dollar order with a just new system for global economic prosperity and security. Now, as Iraq threatens to explode in internal chaos, it is important to rethink the entire postwar monetary order anew. The present French-German-Russian alliance to create a counterweight to the United States requires not merely a French-led version of the Petro-dollar system, some Petro-euro system, that continues the bankrupt American Century, only with a French accent, and euros replacing dollars. That would only continue to destroy living standards across the world, adding to human waste and soaring unemployment in industrial as well as developing nations. We must entirely rethink what began briefly with some economists during the 1998 Asia crisis, the basis of a new monetary system which supports human development, and does not destroy it.” A New American Century? Iraq and the hidden euro-dollar wars http://www.globalresearch.ca/articles/ENG401A.html. The present situation is becoming untenable and the US like all empires before it is suffering from the fatal hubris of imperial overreach. To make matters worse more OPEC members are considering shifting from dollars to euros as their medium of exchange an event that would devastate the debt ridden US economy. “What happens if global investors continue pulling out of the United States — and the dollar keeps falling? Many market players expect it to fall another 20%. Other countries that have lost money in the dollar’s fall may continue buying more euros. The other shoe may drop, too. OPEC may decide to officially re-denominate their oil in euros (since most of the organization’s customers are in Europe anyway). OPEC economists have been considering this “no-brainer” scenario for sound financial reasons — even though they feared U.S. wrath and retaliation. Indeed, many believe that a deeper reason for the U.S. attack on Iraq was its decision in 1999 to require payments for its oil for food program in euros.” Iraq, the Dollar and the Euro, Hazel Henderson http://www.theglobalist.com/DBWeb/StoryId.aspx?StoryId
The US is in deep doo doo, the chickens are coming home to roost big time. The problem is Joe and Jane Sixpack are being duped and lied to about the real deal. Sadly they and the rest of us, will be caught totally unprepared by the economic fall out as well as any military blow back. If the Iranians with the tacit support of the European Union pull off their new oil exchange bourse this year using the Euro as their exchange currency it will signal the end of US dollar hegemony and possibly touch off WWIII as both a global economic and military conflict. The scandals, the lies, the trade and budget deficits are caching up to Bu$h and Co. But they also provide a convenient cover and distraction to obscure the real crisis facing this administration. Bu$h and Co, are panicking as the chickens come home to roost. Their dilemma now becomes what to do about it without revealing the truth to the AmeriKKKan people. Thus they’ll resort to doing what they do best, lying, which will alienate more people as their lies unravel and more chickens flock back home to roost. They will need the continued cooperation of the corporate media to vigorously promote their lies. It will be a vicious circle. It will not be a pretty picture for the Bu$hes, the NeoConmen nor the AmeriKKKan people. But the Law of Karma and the consequences of their actions cannot be evaded.

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posted by Junious Ricardo Stanton @ 8:49 PM