On the Verge of Collapse?

 

Experts from all over predict an economic collapse but you can protect yourself and prosper.

By James P. Tucker Jr.

 

Several prominent financial experts have forecast the likely collapse of the U.S. economy in the not-so-distant future, which would mean not only ruin for hundreds of millions of Americans but also disaster for the countless foreign countries linked by Wall Street banks to the United States. But, according to these same leading authorities, there are steps which Americans can take that may save their life savings from the widely predicted economic collapse.

You can prosper when the anticipated stock market crash comes by putting your money in silver and gold, where prices are artificially low and the value survives.

Although the Treasury Department and the Federal Reserve Board (Fed) are conspiring to keep the price of gold low, prices will rise dramatically in the next few years, advises Bill Murphy, chairman of the Gold Anti-Trust Action Commit tee, as well as precious metals dealers, Ed Lee, Bill Haynes and James Cook.

Murphy’s committee can show that at least 10,000 tons of gold have been sold short al though the actual amount of salable gold is far less. Murphy told this to the Fourth International Conference on Authentic History & the First Amendment, jointly sponsored by The Barnes Review and American Free Press.

Murphy’s committee is suing the Fed and Rep. Ron Paul (R-Tex.) is sponsoring legislation to abolish the illegal consortium of private, international bankers that manipulates the economy in secret meetings.

For 90 years, the Fed has operated in absolute secrecy and has never been audited. American taxpayers are audited and jailed if the IRS can nail them on something—but no one ever audits the Fed, including the General Accounting Office. What monstrosities are being covered up boggles the imagination.

“Since the creation of the Federal Reserve,” said Paul, “middle- and working-class Americans have been victimized by a boom-and-bust monetary policy.

“In addition, most Americans have suffered a steadily eroding purchasing power because of the Federal Reserve’s inflationary policies,” Paul said. “This represents a real, if hidden, tax.”

Paul is also pushing the Honest Money Act to repeal legal tender laws that force Americans to accept irredeemable paper ticket or electronic money.

“Legal tender laws disadvantage ordinary citizens by forcing them to use money that is vulnerable to vast depreciation,” Paul said. “As Stephen T. Byington wrote in the September 1895 issue of the American Federationist: ‘No legal tender law is ever needed to make men take good money; its only use is to make them take bad money.’”

“U.S. stocks today are still overvalued,” said economist Kurt Richebacher. “”The worst part of the bear markets is still to come and it will result in the wholesale destruction of wealth from the bubble economy.”

“When you say it can’t be like 1929 through 1931 [when stocks lost 89 percent of their value], you’re right,” said Michael O’Higgins, a money manager. “It could be worse.”

“Asian central banks alone hold $1.4 trillion in U.S. ‘paper,’ ” said Bill Buckler, newsletter editor. “If part of this immense stock of funds lent to the U.S. were to start to run for the exits, the U.S. financial system would be forced against a wall and then off a cliff.”

 * For more on this subject, you can order AFP’s informational reports, Billions for the Bankers: Debts for the People, or 8 Reasons Why the Budget is a Fraud (one copy is $2, six copies are $4 and 40 or more are 30 cents each). Write to American Free Press, 1433 Pennsylvania Avenue SE, Washington, D.C. 20003. Call toll free at 1-888-699-NEWS to order by Visa or MasterCard.