Skip to content


Obama Strikes Fear Into Americans While Reassuring Big Banks

Administration hypes depression and collapse if debt deal not reached, tells banks the opposite

Paul Joseph Watson
Prison Planet.com
Wednesday, July 27, 2011

While publicly fearmongering about a new great depression, the sun failing to rise, and the sky falling if the debt ceiling is not hiked, the Obama administration has been secretly telling big banks that there’s no chance of a default, echoing how the 2008 bailout was sold on hyped threats and intimidation of lawmakers.

The rhetoric was heightened yesterday when White House Communications Director Dan Pfeiffer warned that the GOP’s inability to compromise “could potentially put us towards a depression,” adding, “we are seven days away from an unprecedented financial event in this country’s history.”

Treasury Secretary Tim Geithner, who has been busy hyping the inevitability of a default for weeks, again told news shows Sunday that the government would be unable to pay its bills if an agreement is not reached, a talking point that has been enthusiastically parroted by President Obama.

However, that tone doesn’t quite match with what the Obama administration is simultaneously telling top executives at major U.S. banks, assuring them that “such an event won’t happen.”

“In a series of phone calls, administration officials have told bankers that the administration will not allow a default to happen even if the debt cap isn’t raised by the August 2 date Treasury Secretary Tim Geithner says the government will run out of money to pay all its bills, including obligations to bond holders,” reports Fox Business.

Once again, while striking fear into lawmakers and the American public by stoking fearmongering about the inevitability of a catastrophic collapse, the administration is fully aware that the system, maintained as it is by a fraudulent debt-based fiat money system, can always be kept artificially inflated for that bit longer.

Indeed, the doomsday rhetoric is likely to be nothing more than a ploy to increase the administration’s bargaining power and its bid to seize the power of the purse from Congress. We saw an almost identical tactic used during the 2008 bailout debate, which was eventually rammed through on the back of bellicose threats about martial law and economic armageddon.

As Senator James Inhofe revealed, then Treasury Secretary Hank Paulson told members of Congress the crisis would be “far worse than the great depression” if Congress didn’t authorize the bill to buy out toxic debt, a proposal “which he abandoned the day after he got the money,” added Inhofe, referring to how immediately after it was approved, Paulson announced that the bailout money would not be used to buy up toxic debt but would instead be injected directly into banks like Goldman Sachs, of which he was a former CEO.

Lawmakers were strong-armed into passing the bailout after being threatened that they would be responsible for a financial holocaust, a crisis of unimaginable proportions. Nearly three years later, we’re hearing the same rhetoric.

As former Treasury Secretary Paul Craig Roberts has outlined, the whole debate over raising the debt ceiling is largely a punch and judy puppet show. As top global ratings agencies have confirmed, the U.S. is already technically in default because it has deliberately depreciated the dollar against other currencies as a means of artificially keeping its head above water.

Labeling the whole process “political theater,” Roberts warns that the outcome of the debacle could be Congress losing the power of the purse, which is enshrined in the constitution.

“The consequences would be that the power of the purse would transfer from Congress to the President. It would be the end of the power of Congress. Congress, Republicans and Democrats alike, have already given away to the President Congress’ Constitutional right to decide whether the country goes to war. Now Congress would lose its power over debt, taxes, and the budget itself,” writes Roberts.

Given the fact that lawmakers like Republican Senator Mitch McConnell have openly advocated the idea of handing such powers over to the President in the name of solving the debt problem, a proposal Senate Majority Leader Harry Reid has said he will seriously consider, many in Washington would see this fallout as a useful way of expanding the power of the executive branch.

*********************

Paul Joseph Watson is the editor and writer for Prison Planet.com. He is the author of Order Out Of Chaos. Watson is also a regular fill-in host for The Alex Jones Show.

Related Posts with Thumbnails

Posted in Finance & Economics, Politics.

Tagged with , , , .

Support #altnews & keep Dark Politricks alive

Remember I told you over 5 years ago that they would be trying to shut down sites and YouTube channels that are not promoting the "Official" view. Well it's happening big time. Peoples Channels get no money from YouTube any more and Google is being fishy with their AdSense giving money for some clicks but not others. The time is here, it's not "Obama's Internet Cut Off Switch" it's "Trumps Sell Everyones Internet Dirty Laundry Garage Sale".

It's not just Google/YouTube defunding altenative chanels (mine was shut), but Facebook is also removing content, shutting pages, profiles and groups and removing funds from #altnews that way as well. I was recently kicked off FB and had a page "unpublished" with no reason given. If you don't know already all Facebooks Private Messages and Secret Groups are still analysed and checked for words related to drugs, sex, war etc against their own TOS. Personally IU know there are undercover Irish police moving from group to group cloning peoples accounts and getting people booted. Worse than that I know people in court at the moment for the content they had on their secret private group. Use Telegrams secret chat mode to chat on, or if you prefer if you need to or buy a dumb phone with nothing for the NSA to hack into if you are that paranoid.

So if your not supporting this site already which brings you news from the Left to the Right (really the same war mongering bollox) then I could do with some. Even if it's just £5 or tick the monthly subscription box it will be much appreciated. Read on to find out why/

Why?

Any support to keep this site would be appreciated. You could set up a monthly subscription for £2 like some people do or you could pay a one off donation as a gift.
I am not asking you to pay me for other people's articles, this is a clearing house as well as place to put my own views out into the world. I am asking for help to write more articles like my recent
false flag gas attack to get WWIII started in Syria, and Trump away from Putin. Hopefully a few missiles won't mean a WikiLeaks release of that infamous video Trump apparently made in a Russian bedroom with Prostitutes. Also please note that this article was written just an hour after the papers came out, and I always come back and update them.

If you want to read JUST my own articles then use the top menu I have written hundreds of articles for this site and I host numerous amounts of material that has seen me the victim of hacks, DOS plus I have been kicked off multiple hosting companies, free blogging sites, and I have even had threats to cease and desist from the US armed forces. Therefore I have to pay for my own server which is NOT cheap. The more people who read these article on this site the more it costs me so some support would be much appreciated.

I have backups of removed reports shown, then taken down after pressure, that show collusion between nations and the media. I have the full redacted 28/29 pages from the 9.11 commission on the site which seems to have been forgotten about as we help Saudi Arabia bomb Yemeni kids hiding in the rubble with white phosphorus, an illegal weaapon. One that the Israeli's even used when they bombed the UN compound in Gaza during Operation Cast Lead. We complain about Syrian troops (US Controlled ISIS) using chemical weapons to kill "beautiful babies". I suppose all those babies we kill in Iraq, Yemen, Somalia and Syria are just not beautiful enough for Trumps beautiful baby ratio. Plus we kill about 100 times as many as ISIS or the Syrian army have managed by a factor of about 1000 to 1.

I also have a backup of the FOX News series that looked into Israeli connections to 9.11. Obviously FOX removed that as soon as AIPAC, ADL and the rest of the Hasbra brigade protested.

I also have a copy of the the original Liberal Democrats Freedom Bill which was quickly and quietly removed from their site once they enacted and replaced with some watered down rubbish instead once they got into power. No change to police tactics, protesting or our unfair extradition treaty with the USA but we did get a stop to being clamped on private land instead of the mny great ideas in the original.

So ANY support to keep this site running would be much appreciated! I don't have much money after leaving my job and it is a choice between shutting the server or selling the domain or paying a lot of money just so I can show this material. Material like the FSB Bombings that put Putin in power or the Google no 1 spot when you search for protecting yourself from UK Police with "how to give a no comment interview". If you see any adverts that interest you then please visit them as it helps me without you even needing to give me any money. A few clicks per visit is all it takes to help keep the servers running and #altnews alive!

However if you don't want to use the very obvious and cost free ways (to you) to help the site and keep me writing for it then please consider making a small donation. Especially if you have a few quid sitting in your PayPal account doing nothing useful. Why not do a monthly subscription for less money instead. Will you really notice £5 a month?


0 Responses

Stay in touch with the conversation, subscribe to the RSS feed for comments on this post.



Some HTML is OK

or, reply to this post via trackback.



css.php