Bernanke’s Warning: We Stand on the Precipice of Economic Destruction!

[youtube=http://www.youtube.com/watch?feature=player_embedded&v=F4PpQkvrB14]

• Chairman of the Illuminist FedRes stating the obvious. But who caused of this problem? Illuminist banksters! Illuminist banksters engineer all the wars to lead America into debt slavery. Illuminist banksters then create money out of thin air to monetize (ie. buy) US treasuries. Americans are then made to pay back these debts with interest to the FedRes. What a wonderful scam!
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• The world is heading towards a global economic, financial and monetary meltdown leading to WW3! This is the western Illuminati’s plan!
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  Bernanke’s Warning: We Stand on the Precipice of Economic Destruction!
  by Kurt Nimmo, www.Infowars.com
  Earlier this week, Federal Reserve boss Ben Bernanke again warned that out of control borrowing and spending will eventually destroy the country. Said Ben to the the Budget Committee:
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  Sustained high rates of government borrowing would both drain funds away from private investment and increase our debt to foreigners, with adverse long-run effects on U.S. output, incomes, and standards of living. Moreover, diminishing investor confidence that deficits will be brought under control would ultimately lead to sharply rising interest rates on government debt and, potentially, to broader financial turmoil. In a vicious circle, high and rising interest rates would cause debt-service payments on the federal debt to grow even faster, resulting in further increases in the debt-to-GDP ratio and making fiscal adjustment all the more difficult.
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  But here is something Bernanke didn’t mention – a large chunk of that debt is owed to the Federal Reserve. In February, the corporate media fessed up to this undeniable fact. From CNBC:
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  That’s right, the biggest single holder of U.S. government debt is inside the United States and includes the Federal Reserve system and other intragovernmental holdings. Of this number, The Fed’s system of banks owns approximately $1.65 trillion in U.S. Treasury securities (as of January 2012), while other U.S. intragovernmental holdings – which include large funds such as the Medicare Trust Fund and the Social Security Trust Fund – hold the rest.
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  The bankers that own the Federal Reserve love debt and that’s why they continually expand the money supply.
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  “Without the Fed’s relentless expansion of the money supply during both the Greenspan and Bernanke eras, the U.S. Treasury never would have been able to issue the staggering sums of debt that now threaten our economic well being,” Ron Paul told the House Committee on Financial Services Subcommittee on Domestic Monetary Policy last year. “This Treasury debt is the very lifeblood of deficit spending, permitting one Congress after another to spend far more than the Treasury collects in taxes. It is precisely this unholy alliance between the enabling Fed and a spendthrift Congress that I hope our witnesses will address today.”
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  It’s a great situation for the warheads in the Pentagon and the military industrial complex. Excluding Social Security and other “trust funds” (no pun intended), the Pentagon spends most of this money. Flush with trillions, they are free to continue and expand the wars necessary for the globalists to extend their reach (as they are now doing in Africa).
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  The debt wrecking ball is doing a fine job of destroying the middle class and making sure America becomes another third world cesspool like Mexico and eventually sub-Sahara Africa. As of last year, the debt officially exceeded 100% of the nation’s gross domestic product, in other words the debt is now as big as everything we produce in America.
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  In order to pay off this staggering debt, the Federal Reserve will print more money out of thin air and expand the money supply which will lead to more inflation that will whittle away at the middle class and the living standards of all Americans.
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  … for more click here!

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