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Money IS Debt!

Mike Whitney: America's Economic Meltdown

Mike Whitney: America's Economic Meltdown: "However, as America�s debts continue to mushroom, the US produces fewer manufactured goods, and the oil-producing countries become more hostile to Bush�s belligerent foreign policy, there�s a real chance the dollar will be abandoned as the main unit of foreign exchange. If this happens, then the $3 trillion that is currently held in central banks overseas will flood the US triggering hyper-inflation and economic disaster."

Data show one in eight Americans in poverty - Yahoo! News

Data show one in eight Americans in poverty - Yahoo! News: "The survey also showed 15.9 percent of the population, or 46.6 million, had no health insurance, up from 15.6 percent in 2004 and an increase for a fifth consecutive year, even as the economy grew at a 3.2 percent clip.
It was the first year since President George W. Bush took office in 2001 that the poverty rate did not increase. As in past years, the figures showed poverty especially concentrated among blacks and Hispanics."

Mike Whitney: How Greenspan Skewered America

Mike Whitney: How Greenspan Skewered America: "The American people are crazy to think that a privately owned institution like the Federal Reserve will ever function in the public interest. The Fed operates behind an iron-curtain of secrecy to protect the interests of its primary constituents; the parasite class. It was authorized under executive order by Woodrow Wilson who was coerced into putting the country's future into the hands of its central bankers so he could finance World War 1. Bankers have always understood that the one who holds the purse-strings calls the shots. This explains what Thomas Jefferson meant when he said, 'Banking establishments are more dangerous than standing armies.'"