Send a Tweet
Most Popular Choices
Share on Facebook 10 Share on Twitter Printer Friendly Page More Sharing
Exclusive to OpEd News:
OpEdNews Op Eds    H3'ed 3/10/10

To what extent are rigged bond auctions being used to 'finance' our 'economic recovery'?

By       (Page 1 of 4 pages)   12 comments
Follow Me on Twitter     Message Richard Clark
Become a Fan
  (108 fans)

Every word you've heard so far about today's "recovery" is worse than just a big lie -- it's a cover-up for what's easily the largest, most devious wealth swindle of all time.

But first consider the economic backdrop for this swindle:

$1.9 trillion in this year's extra spending; "unfunded" liabilities (e.g. promises to pay social security & Medicare benefits for every American now alive) are soaring past $56 trillion, with the personal family share of this total future indebtedness now amounting to $438,000. Plus bailouts, tax cuts and stimulus spending that have now got us burning through an eye-popping $200 million an hour. And all this is on top of the huge annual interest payments on our $12 trillion national debt, the vast majority of which was bequeathed to us by Ronald Reagan and the two Bushes. All by himself, Bush43, the great "W," doubled the national debt from $5 to $10 trillion as of 9/30/08!

Now, to capsulize the great swindle before we explore it in detail:

* In the simplest terms, it's a government-backed shell game that cheats us in three separate ways:

* The "triple-swindle" starts when bureaucrats prop up their fake"recovery" with tax-funded bailouts and huge "cash advances" from foreign lenders...

* Our Fed secretly funnels billions of dollars to foreign lenders, and then borrows it back again just to keep the scam from collapsing...

* Finally, the "swindle" goes public as Washington openly BUYS BACK their own debt using hundreds of billions more, that they create out of thin air.

Some time ago, people in Washington and on Wall Street got together and started carving up America's future financial security, essentially selling it off to the highest bidder. And they continue to sell off huge chunks of that wealth & security (namely the collective savings of all Americans). How do they do it without you noticing? Mainly they do it by way of "scheduled U.S. Treasury Securities Auctions," better known as "bond auctions." Mutual funds and pension funds, state governments, Wall Street banks, and foreign central banks are the buyers at these auctions. And the seller is our Treasury Department, which essentially gives away shares of our future (i.e. our eventually redeemable savings) -- in exchange for huge cash loans to Uncle Sam and the American consumer, redeemable today.

This provides the cash our government uses to prop up and pay for our economy's fake "recovery," by way of economic stimulus, immense bank bailouts, "cash for clunkers," etc. But it's cash that you and your grandchildren will have to pay back further down the line -- out of the personal savings you thought you were setting aside.

Next Page  1  |  2  |  3  |  4

(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).

Must Read 2   Well Said 1   News 1  
Rate It | View Ratings

Richard Clark Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Several years after receiving my M.A. in social science (interdisciplinary studies) I was an instructor at S.F. State University for a year, but then went back to designing automated machinery, and then tech writing, in Silicon Valley. I've (more...)

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Follow Me on Twitter     Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEd News Newsletter
   (Opens new browser window)

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Was Pat Tillman Murdered by an American Sharpshooter to Shut Him up?

New JFK assassination bombshells

Two U.S. presidents implicated by ex-CIA black-ops assassin

The cholesterol - heart disease scam: How the medical-industrial complex is raking in billions at our expense

Four Ticking Time Bombs That Will Soon Ignite a Revolution

The Ultimate Goal of the Bankster-led Political-economic Warfare Being Waged Against Us Is . . . ?

To View Comments or Join the Conversation:

Tell A Friend