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Sunday, August 7, 2011

Economic Stories of Relevance in Today's World -- August 7, 2011

The International Forecaster - Bob Chapman - August 6, 2011 edition
“Justice without force is powerless; force without justice is tyrannical.” Blaise Pascal, Rossi
When people fear the government you have tyranny. When government fears the people, you have freedom. When the righteous are in authority, the people rejoice: but when the wicked beareth rule, the people mourn. (Proverbs 29:2) There is only one reason to kneel – in the presence of God or His Son Jesus Christ. Kneel to no one else. You can judge a society by how they treat those least able to return a favor such as the unborn (Matthew 25: 41-46). America has a problem with apathy and is getting her just desserts right now. And apostate preachers will tell their congregations to obey and submit to government as the Bible teaches. Anyone that believes that hasn’t read Romans 13. In Romans 13 we are to be subject to a higher power for there is no power but of God and the power that is ordained by God. Preachers will twist this verse to say that if you resist “the power” (meaning man’s government) you resist God’s ordinance and are damned. Read verse 3 and discover that God says; “the rulers” should not be a terror to good works but to evil. Righteous rules are expected to take on evil and if rulers ruled in righteousness, there is nothing for the people to fear. Those who rule in righteousness are considered God’s ministers and He empowers them to be a revenger with a sword to those that do evil (verse 4). To such righteous rulers we are to be subject to and to support monetarily and avoid all debt (verse 5-8). So, if government rulers create and enforce evil laws and evil acts, we are not to be subject to them. Resistance to tyranny is obedience to God.

You can expect evil to corrupt the good God created, including foods and herbs. The question is; will you let them? Don’t let evil steal your power to be healthy, safe, righteousness and most importantly - your eternal crown. If you have ears to hear and eyes to see this makes sense to you. Seek the Lord’s face. This means to listen for His voice in prayer. Ask Him what He wants you to do, not what you want Him to do. If you hear the Lord, you are not crazy. Comedian Lily Tomlin once said, “Why is it when we talk to God we are said to be praying, and when God talks to us, we’re said to be schizophrenic?” This humor is pathetically accurate of what the world thinks about real faith. Hit the knees to seek the Lord’s face in faith believing and God will honor that. Take note that God says His Word is eye salve and you can ask Him to remove your apathy and the Holy Spirit will help teach you the meaning of God’s word. (Rev.3:14-22).

New Fee to Bank Cash - Wall Street Journal - Liz Rappaport - August 5, 2011 - Bank of New York Mellon Corp. on Thursday took the extraordinary step of telling large clients it will charge them to hold cash... The unusual move means some U.S. depositors will have to pay to keep big chunks of money in a bank, marking a stark new phase of the long-running global financial crisis... The shift is also emblematic of the strains plaguing the U.S. economy. Fearful corporations and investors have been socking away cash in their bank accounts rather than put it into even the safest investments... The giant bank, which specializes in handling funds for financial institutions and corporations, will begin assessing a fee next week on customers that have been flooding the bank with dollars, Bank of New York told clients in a note reviewed by The Wall Street Journal...

Why the District of Criminals is desperate to kill Social Security - The PPJ Gazette - August 2, 2011 - This is what the District of Criminals is trying to eliminate, the calling in of all the monies stolen from Social Security, due and payable to the investors in Social Security; the working class. Should the fund actually ever incur a shortage, the Social Security Administration could lawfully force the federal government to borrow money to cover the theft and to restore the 2.7 trillion stolen so far from the fund...
In November 2009, The Economist estimated the additional federal tax revenue generated from eliminating certain tax expenditures, for the 2013-2014 period. These included: income exemptions for employer-provided health insurance ($215 billion); and various income deductions such as mortgage interest ($147B), state & local taxes ($65B), capital gains on homes ($60B), property taxes ($33B) and municipal bond interest ($37B). These total $557 billion. All of these steps together would reduce the projected deficit at that time by nearly half.[94]...   And every one of these proposed eliminations of tax expenditures unfairly and unequally targets the average citizen. That would be you. This is what most likely will come out of the District of Criminals as they actively and with malice towards the overall population, increase the average working family tax burden while protecting corporations which account for only 9% of revenues now and the uber wealthy...

How JP Morgan Took Over All Kentucky's Financial Services, And Why You Should Be Scared
- One of the major players in the global financial crisis is now in charge of all financial transactions in an entire state. Could this spread? - Alternet - Danny Mayer - August 4, 2011
- On July 1, JP Morgan Chase became the Commonwealth’s bank. As the state’s official depository, JP now receives all deposits, writes all checks and makes all wire transfers on the $12-15 billion that flow through Kentucky state government in the course of a fiscal year. It will cut payroll checks, receive federal and other funds earmarked for the state, and disburse educational or transportation or any other funds to their appropriate monetary endpoints. For its trouble, the bank will receive $1.3 million in state fees and the ability to re-lend idle state funds out to customers for private gain...   ( Local first) - In the most recent of a slew of fraud-related lawsuits targeting JP Morgan’s financial transactions, the corporate giant has been forced to pay $228 million in damages for rigging bids on municipal bonds—public debt incurred to pay for expensive infrastructure projects. The lawsuit accused JP Morgan of insider dealings that inflated the taxpayer cost on over 90 projects spanning 31 states. As is standard in these cases, the money the bank was forced to pay back reflected only a percentage of what they made off the deals, quarters on the dollar. What’s more, because the settlement did not require the bank to admit guilt, it has been effectively insulated from any future litigation on behalf of the specific localities that were defrauded... One of these states, it should be known, is Kentucky. A small blurb appearing in the July 13 Herald-Leader, less than 2 weeks after state leaders made JP Morgan Chase our Commonwealth bank, cited two separate bid-rigging schemes that had made their way onto the 31-state lawsuit: Western Kentucky’s Henderson County received $224,000 from the lawsuit, while the University of Kentucky stood to recoup $66,000 as part of the settlement.

13 Reasons Why The U.S. Is Now OFFICIALLY BANKRUPT - The Daily Bail - ATTENTION IDIOTS IN THE MAINSTREAM MEDIA - Stop The Budget Lies - There Are NO Cuts - House Passes Bill To INCREASE Spending By $7 Trillion Over The Next 10 Years... Lies, Damn Lies And Government Budgets

And from the Ashes - Further signs of Economic Depression - The Hickory Hound - August 6, 2011 - The only way out of this is to hold those who have perpetrated this fraud accountable and claw back the money that has been stolen from the American people. Then it is time to start rebuilding our industrial base towards a system that builds infrastructure, instead of destroying it. It is time to bring our troops home and it is time to bring this Security Apparatus under control, because none of this mess is what America was founded on or built upon. You want to rebuild the American Economy, then you have to unleash the positive spirit of the American people and you have to afford them the opportunity to succeed. We can foster this success, but we are currently heading in the opposite direction. The direction of Tyranny. Get off of your knees people. Stand Up!!!

The new silent majority of America by 2012 - Warren Pollock

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