Warnings are everywhere ... Americans had best wake up and do something about it
In the April 2004 #2 issue of the INTERNATIONAL FORECASTER financial newsletter out this weekend, editor Bob Chapman writes that it is finally
becoming painfully obvious that oil producers are artificially increasing the price of oil to offset the cost of the depreciating
"We are sure others that sell into the dollar market are doing the same thing. As we have said
before, private investors have all but fled the dollar denominated Treasury market and other central banks have been buying
over 80% of US issues."
Due to horrendous debt, obvious systemic weaknesses are now visible and those risks have caused
global investors to have less confidence in the American economy then they once did. As you are well aware, were it
not for the Asian countries, particularly Japan and China, the dollar would have fully corrected long ago.
The US economy is very unstable and fraught with risk and this is causing other nations to
question US economic leadership.
- The powers in the US, since 1989, have avoided a full recession by simply printing money, using
credit and amassing huge debt. That is not responsible stewardship.
The US is on a course of economic decline because elitists and politicians, with the assistance
of Wall Street, have refused to face economic reality. Furthermore, there is no end in sight to this financial profligacy.
This situation is compounded by a foreign policy of preventative invasions, which is little more than a cover-up of economic
We predicted this course of action four years ago based on the historical perspective that every
government in financial and economic trouble had done so since the beginning of recorded history.
The economic base of America has been on the course of destruction from the period beginning
almost 100 years ago. It has been one financial and economic failure after another, always followed by war.
Now that substantial damage has been done, the US and the world are now facing climbing oil and
gas prices ... that is part of the reason for the invasion of Iraq and it may bring about the invasion of Venezuela.
The US’s inability to produce more oil and gas has not only led to dependency, but an
ever increasingly staggering bill for importing these natural resources.
Lack of sufficient oil production ... we import 56% of our needs ... puts us at a great disadvantage
especially with Russia, which has vast reserves.
Although recovering from its Soviet hangover, Russia is making great strides up the economic
ladder by building foreign exchange reserves and liquidating debt incurred by the Soviet Union. It will not be long
before Russia is challenging the US economically and militarily again.
There is no doubt that US dependency on foreign oil is one of its major weaknesses. In the future
oil prices will be where Saudi Arabia, Iran, Russia and Venezuela want them.
The moves by large oil producers come at a very difficult time inasmuch as the US is particularly
vulnerable due to its unilateral invasion and occupation of Iraq. The US and England are facing diplomatic isolation due to
their war mongering.
The US may be the dominant force in the world, but that could fast be coming to an end ... many
other nations are cooperating among themselves to offset US power.
Previously, nations could live with and put up with US dominance, but 9/11 and Iraq pushed other
nations straight over the edge. The world is never going to be the same again.
Warnings are everywhere ... Americans had best wake up and do something about it.
- The first step is to remove George W. Bush and his neo-cons.
International order will not be restored for generations ... these people in the White House
have deeply damaged our country with the assistance of the Fed, Wall Street and the media.
That is why private financial interests, both foreign and domestic, have been moving assets out
of the US for the past few years.
Unfortunately, America’s power is dissipating and our country is beginning to enter the
biggest crisis in its history. As the dollar and the economy falls so will the world economy.
This is little consolation, because we are about to begin a great tribulation.