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(10) so far, despite massive money-creation, interest rates remain artificially low, but only for so long; and
(11) the US dollar lost nearly 10% of its value in the past 12 months alone, greater erosion ahead because of destructive monetary policy.
Conclusion: "This unprecedented debt crisis is the single greatest threat to your wealth and standard of living in decades," engineered by a Wall Street-Washington cabal.
A Longstanding Cabal Member
His resume reveals a consummate high-level government/corporate insider - formerly Nixon's commerce secretary, chairman of the New York Fed, chairman and CEO of Lehman Brothers and Bell and Howell, board member of seven major corporations, current chairman and co-founder of The Blackstone Group, former chairman of the Council on Foreign Relations (succeeding David Rockefeller), and co-founder and president of the Concord Coalition, calling itself:
"a nationwide, non-partisan, grassroots organization advocating generationally responsible fiscal policy."
In fact, it's partisan and elitist, its board comprised of wealthy powerful figures, including Paul Volker, Robert Rubin, and former Senators Sam Nunn, Warren Rudman, Charles Robb, and Bob Kerry, among others - allied with hard-right groups like the Heritage Foundation. It's for corporate bigness, limited government, imperial wars, fiscal austerity, ending social spending, homeland harshness, banning abortion, abolishing affirmative action, and other extremist positions the Concord Coalition endorses, openly or covertly, including the transfer of public wealth to private hands and corporate takeover of America and world governments, making billionaires like Peterson richer. In 2008, he ranked 149th among the Forbes 400 Richest Americans.
He also established the Peter G. Peterson Foundation "to increase public awareness of the nature and urgency of key economic challenges threatening America's future and accelerate action on them."
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