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QE3 and the Globalist Plan to Destroy the Dollar

Kurt Nimmo
Prison Planet.com
Thursday, June 2, 2011

Mohamed El-Erian, chief executive officer at Pacific Investment Management Co., told Bloomberg today the Fed’s quantitative easing policy failed to meet the “ultimate objective” of boosting employment and economic growth.

Pimco is the world’s biggest manager of bond funds. Under QE2′s bond-purchase program, investors are doing fine with higher-yielding assets in the rigged stock market casino – QE2 pushed the S&P up 9 percent – but as usual the little guy on Main Street continues to lose his socks.

“If success is defined in terms of the ultimate objective, which is pushing up valuation in order for people to spend more on goods and services and therefore get the economy to grow and unemployment to come down rapidly, then the answer is no,” El- Erian said.

It is not explained how loaning astronomical amounts of fiat currency to a spendthrift government will correct an economic imbalance engineered by the Federal Reserve and the bankers in the first place. Moderate estimates put the current budget deficit at $1.4 trillion – 10% of America’s GDP. It should be obvious by now this policy smells of ultimate (and deliberate) ruination, and sooner before later.

Of course, the Fed is not a blind elephant mindlessly thrashing about in a china shop, ineptly taking out the foundations of the United States economy. There is a methodical rhyme and reason behind what appears to be inept policies consistently in failure mode and making things worse.

Obama’s record deficit spending – and gargantuan loans provided to cover the tab – is central to a concerted effort to undermine the dollar and reduce its status as the world’s reserve currency.

But not to fear. Our rulers and their banker masters have a plan to save the world. It’s called a “global currency” and it was proposed back in 2009 just as the banker engineered financial crisis was gaining steam and Congress was cobbling together a plan to “save” the economy that was in fact a pig with lipstick plan to create more debt and thus enslave your children and their children.

Financial crises are now scientifically created, as Congressman Charles Lindbergh noted after the Federal Reserve was established in 1913.

Globalist kingpin George Soros was not joking around when he said the bankers are working toward a “managed decline” of the U.S. dollar in order to usher in a New World Order (his words, not mine).

Soros’ version of managed decline is all over QE2. But the scheme didn’t finish the job, so now we’re going to get QE 3 – and 4 and 5, ad nauseam, until the U.S. economy topples over like a house of cards.

QE2 and its euphemistic ancestor and siblings are nothing more than a suit of news clothes for an age-old bankster trick – expanding the money supply to create booms and subsequent busts that take down national economies.

More than 40 years ago, economist Milton Friedman and Anna Jacobson Schwartz demonstrated how the Federal Reserve’s monetary policies were to blame for the depth and severity of the Great Depression.

In 2002 Ben Bernanke, before his gig as director of the Fed, made a remarkable (for its candor) admission in a speech given in honor of Friedman’s 90th birthday: “I would like to say to Milton and Anna: Regarding the Great Depression, you’re right. We did it. We’re very sorry.”

Problem is, they are not sorry. Bernanke is, of course, little more than a grocery clerk for the global elite and the bankers behind the scenes. They fully intend to take down the U.S. economy and put in its place a global monetary system – and a totalitarian control system. The IMF has already announced it plans to create a global currency.

Honest money managers are others in the financial “services” industry know what’s coming down the pike. They are now warning us about the horror to come. “Interest rates are amazingly low and that, thanks to Ben Bernanke, is driving everything,” Peter Yastrow, market strategist for Yastrow Origer, told CNBC yesterday. “We’re on the verge of a great, great depression. The [Federal Reserve] knows it.

The Fed not only knows it. The Fed planned it.

Low interest rates are a tool for expanding a money supply that invariably leads to irresponsible lending and speculative borrowing of the sort that got us into the mess we are now in.

Occasionally the corporate media gets it right. For instance, in early 2008 as the sub-prime induced depression began picking up steam, The Economist reported that, based on the characteristics of the unfolding financial crisis, the U.S. was entering a depression, not a recession.

Meanwhile, the rest of the corporate media either ignored the signs or peddled Obama’s assertion that we were actually in a recovery.

The article, however, quotes economists who say confidently that a repeat of the 1930s is impossible “because policymakers are unlikely to repeat the mistakes of the past.” The speculation, Paul Joseph Watson notes, came from the same people who predicted that “a nationwide fall in American house prices was impossible and that financial innovation had made the financial system more resilient.”

Infowars.com and Prison Planet.com have consistently reported on the faltering economy since the staged “Great Recession” officially commenced in 2008.

We have noted that the so-called housing bubble, easy credit (allegedly in response to the earlier orchestrated dot-com bubble), rampant fraud and book cooking in underwriting (specifically mortgage underwriting), an explosion in sub-prime lending, and earlier deregulation (in particular, the creation of adjustable-rate mortgage loans – custom-made weapons for default and crisis – and specifically the repeal of the Glass-Steagall Act by bankster operatives in the Clinton administration that had erected a fire wall between commercial and investment banking during the last engineered depression).

“As we teeter on the brink of a full blown economic depression fueled by the excessive inflationary monetary policies of governments and the international banking cartels they operate under, the American people have turned to a man who has been masterfully presented to them as their last Hope,” Steven Watson wrote in early 2009 in a review of Alex Jones’ film, The Obama Deception.

In that film, Bilderberg sleuth Dan Estulin talked about how the elite planned the current economic crisis – using the sub-prime truncheon – during the Bilderberg meeting in 2006.

In 2009, Paul Joseph Watson reported for Prison Planet.com on Estulin’s sources revealing that the elite at the Bilderberg meeting that year planned to foster “a false picture of economic recovery, suckering investors into ploughing their money back into the stock market again only to later unleash another massive downturn.”

In May of 2010, the Dow Jones slid nearly a 1,000 points, its largest drop ever. In order to provide cover for the real culprits, the ever-compliant corporate media said the 700 point plunge was the result of computer error. During the sensational drop, CNBC’s Maria Bartiromo knew better and said “this really sounds like market manipulation to me. This is outrageous.”

Alex Jones’ flagship websites have reported the truth from the beginning – a truth kept away from the public who are fed bread and circuses and lurid murder stories instead of real news. Since the start of the Greatest Depression now unfolding – and the corporate media attempt to portray dismal economic news as a recovery, as instructed by the Bilderbergers – traffic has increased exponentially at Infowars.com and Prison Planet.com.

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