So General Motors, the American icon of the world's once-premiere manufacturing base, is going to file Chapter 11 bankruptcy tomorrow!
Why do American workers continue to put up with a monetary system that allows this, a system that makes Wall Street bankers rich while Main Street workers are forced into unemployment lines? Is Treasury Secretary, Geithner, going to China to help facilitate CARS for BONDS? If so, why does the working public continue to put up with a monetary system that is so dependent on debt, U.S. jobs are being replaced by Communist slaves in order to keep the Fed banking cartel's interest payments coming? All of this is total insanity -- and it's unfolding right before your faces, folks.
Where does it all begin? It all begins -- as I have been "spewing" for 15 years -- with FIAT money. If you haven't watched FIAT EMPIRE, you DESERVE to lose your job at GM for being such an "American Idiot" (the name of my new TV Show).
Here's how it adds up.
As we all learned from ZEITGEIST ADDENDUM (the movie on alternative Internet TV) and PAT BUCHANAN (the political historian on mainstream TV), American labor -- the United Auto Workers (UAW) for instance -- is under assault from basically two (2) sectors:
A. Cheap Foreign Workers (such as Chinese Workers);
B. Cheap Domestic Technology (such as AI Workers).
As Buchanan says in his only-idiots-won't-read book, DEATH OF THE WEST, hundreds of millions of laborers were suddenly dumped onto the world market when the Soviet Union and Communist China collapsed and liberalized, respectively. These hundreds of millions will work for less money than either the UAW or the AIW (AI Workers). So, greedy, BenedictArnold-CEOs -- "justified" by NAFTA, GATT and WTO rules -- have been moving their mega-corps out of the U.S. and into countries where these hundreds of millions of cheap workers will make cheap stuff that credit card addicts in the U.S. will snap up at their local Traitor-Marts (such as a Wal-Mart).
But, as the credit card consumers -- that's probably YOU -- consume, they create debt. Since every "dollar" (i.e., Federal Reserve Note) is backed by DEBT, the MONEY SUPPLY (M3) is proportional to the NATIONAL DEBT. (See http://www.thetrailofgreen.com) So the more money we all require to BUY this cheap stuff from China (DVD players, cell phones, game consults, HDs, plasma and LED TVs, etc.), the more we draw-down our credit cards, home equity lines or borrow elsewhere. This has been BabyBoomer history for the past 20 years. See http://www.mecfilms.com/mid/movies/intent.wmv
Since Federal Reserve Notes ("money") is created from debt, interest-bearing principle is created whenever "money" is created by the Fed. This principle requires debt service (i.e., interest payments), thus MORE "money" must be created in order to pay the interest. But when more "money" is created, it automatically creates more principle with yet more debt service required. Thus it's a Ponzi. This Ponzi is known as the "Impossible Contract Problem" or the "ICP" and LA attorney, Ellen Brown, explicates it in some detail in her book, WEB OF DEBT.
The Impossible Contract Problem leads big GM-type corps into the quicksand because the Fed Banks all but THROW money at them to borrow. Why? Because these Banks create this "money" out of NOTHING. They monetize debt and create the money through fractional reserve. (See movie, MONEY AS DEBT, on Google Video) So, if you were a businessman, and you could create a "product" out of nothing, wouldn't you attempt to sell or rent as much of that "product" to qualified mega-corps as possible? Well, this is exactly what the Fed-member Banks do: they rent as much money to the GMs of the world as they possibly can and they collect as many interest payments as they can on that bogus money. This is called lending FIAT money and it's EXACTLY why it's illegal under Article I of the U.S. Constitution: "No Bills of Credit".
So, GM borrows and eventually over-extends itself with fiat money from the Fed Banking Cartel.(1) Thus, in order to serve their creditors AND in order to pay ever higher wages to the UAW employees (so THEY can pay their increasing credit cards payments at home), GM management is "forced" to cut costs in the hopes of positive cashflowing. Since labor is a large percentage of the costs of manufacturing, this takes them to China for labor, and away from UAW and AIW labor.
Now it's true that a United Auto Worker (UAW) replaced by a Chinese Auto Worker (CAW) still equals an unemployed Human Auto Worker (HAW), but it's worse than had such UAW been replaced by an AI Worker (AIW). Why? Because:
1. AI Workers advance technology in the U.S. whereas;
2. Chinese Auto Workers atrophy technology in the U.S. thus contributing to the destruction of the U.S. manufacturing infrastructure and;
3. Chinese Auto Workers cause massive, accelerated unemployment in the U.S. before its workers are able to make transitions to other industries and/or population reduces and/or a technological manufacturing base, facilitated by AI under human control, is phased in.