2005 Petrocollapse Conference in New York City

[KhanCEO]

link

"At the October, 2005 Petrocollapse Conference in New York City, Mike Ruppert enumerated the government’s responses to Peak Oil which protect the financial elites and major corporations:

1.Rationing
2. More Coal and Nuclear – Emphasis on Fisher-Tropsch Coal-to-Liquids Conversion.
3. Suspended Environmental and Drilling Restrictions
4. Protection of Critical Infrastructure
5. Strengthening and Reinforcing Domestic Military Operations – Suspension of Posse Comitatus
6. Suspension and Relaxation of Labor and Minimum Wage Laws.
7. Changing and Tightening the Bankruptcy Laws, Allowing Fewer Distressed Consumers to Discharge Debts.19
8. Allowing and Facilitating Population Reduction through Famine and Disease.
9. Strengthening and Giving More Power to FEMA.
10. Destroying Demand Through Economic Collapse and Allocating Scarce Resources – by Force if Necessary – to Protect the Interests of the Wealthiest Communities and Interests in the Country."

Clearly, our government doesn't give a Expletive deleted. about us.

[dukey]

it all boils down to the guys at the top owning everything
most people in the US think that the federal reserve is owned by the government
LOL
no, despite it's name it's owned by a private corporation. You think the interests of the american people come before this powerful organistation ? Think again.
the Federal Reserve basically caused the 1930's recession and in the process the big bankers acquired INCREDIBLE wealth, bought businesses for almost nothing .. What happened was they increased the money supply, made the cost of borrowing low, then when they felt like it, tightened the money supply. And when people panacked and wanted to withdraw all the money from the banks, due to the way banks work they simply couldn't give everyone their money in cash (because it actually doesn't all exist). The federal reserve could have bailed out the banks by printing more money, but they didn't .. they simply rolled over and let it happen. Is history bound to repeat itself ? Nothing can stop this obscene corruption because no one regulates the federal reserve ..

The same people that run this organistion also own huge chunks of the big businesses .. it goes on. The same people also choose the presidents and have enormous influence on policies.

It frankly scares me how much power Fema have acquired these past years. They can basically take over the country by marshall law. The system is pretty much in place for the wealthy ellite to take over america, just waiting for someone to push the magic button. Maybe another fake terrorist attack like sep 11 will make the american people roll over and give up their freedom in exchange for 'security' and marshall law. Will it happen ? Who knows..

[Carlhole]

Free download of Aaron Russo's film "From Freedom to Fascism"

(for screening purposes only, ahem!)

http://pumpitout.com/

All about the Federal Reserve, the 16th Amendment and the complete lack of any mandatory income tax statute (yet you can still be thrown in jail for breaking "the law").

Well done film, although this is not news to me. I read Irwin Schiff's book years ago. Also, very well done. Irwin was thrown in jail for 13 years for breaking "the law".

What law?

[UPDATE: No longer there for download. Sorry.]

[ClubOfRomeII]

http://carolynbaker.org/archives/the-valley-of-the-shadow-of-debt

Clearly, our government doesn't give a sh*t about us.

Carolyn Baker isn't one of Rupperts writers is she? Specifically, the one who came up with the Samauri spew when Ruppert took "his long walk into the cursed Venezeula"?

Maybe when she drums up some credibility, then we can pay attention to anything she writes? Or he writes and has her post for him?

[JustinFrankl]

http://carolynbaker.org/archives/the-valley-of-the-shadow-of-debt

Clearly, our government doesn't give a sh*t about us.

Carolyn Baker isn't one of Rupperts writers is she? Specifically, the one who came up with the Samauri spew when Ruppert took "his long walk into the cursed Venezeula"?

Maybe when she drums up some credibility, then we can pay attention to anything she writes? Or he writes and has her post for him?

Isn't this an example of an ad-hominem attack.

You have the time to criticize her 'cause in your eyes she's a nobody. Do you have the time to address what was written rather than who wrote it?

[savethehumans]

Clearly, our government doesn't give a sh*t about us.

You mean, there's someone out there who believes that they ever DID?

[EnergyUnlimited]

The Valley Of The Shadow Of Debt

I observe that many threads on PO forum are about debt problems. There is also strong belief, that banks, finnancial elites, Federal Reserve, government and some other bodies are to be blamed for high debts of american citizens.

IMO this criticism (of banks etc) is completely mistaken one.
Common american citizens and no one else are to be blamed for this mess.
They are simply trying to "borrow themself rich" and the idea is a complete nonsense.
They have always a choice not to accept credit offer from a bank or whoever, regardless how good or bad it appears to be.
And what they are doing? They are stupidly borrowing more and more (and often even without reading loan aggreement properly).
It is very good and desirable, that those stupid peoples will suffer some dreadful consequences one way or another.
It is really silly idea to blame credit cards companys for the mess.
Credit card can be really useful item as long as balance is paid off every month in full.

Shortly, "disturbed consumer mentality", eg American Dream, is doomed to failure and it is very good in fact.
Future generations will have a good lesson about consequences of combination of stupidity & greed in consumer society.

[mefistofeles]

Shortly, "disturbed consumer mentality", eg American Dream, is doomed to failure and it is very good in fact.
Future generations will have a good lesson about consequences of combination of stupidity & greed in consumer society.

I have to agree and disagree. Yes as citizens in a free society we are ultimately responsible for the consequences of our actions or inactions.

Yet when I look at my friends who c stand on the fiscal precipace of disaster I have to ask did they do anything that they were not suppose to? They listened their financial advisors, one even got an MBA they did everything that society told them they should do yet in a few years they too will be facing a fiscal abyss.

Did they do stupid things. Absolutely one has two homes who ARM's have not yet reset and another barely gets $100,000 while his mortgage payments are set to explode on his interest only loan.

Yes in light of common sense and real economic knowledge they certainly made bad choices but in light of what the "PROs" said and the actions of so many people around them they did what they were suppose to.

As a professor of mine said once said. "You deserve the grades that you get." In light of what wil happen to my friends I would say the statement should be amended to read:

"You earn what you get. But whether or not you deserve what you get is altogother different matter."

My friends certainly earned what happened to them but I certainly don't feel they deserve what they will be getting.

[ClubOfRomeII]

You have the time to criticize her 'cause in your eyes she's a nobody. Do you have the time to address what was written rather than who wrote it?

She isn't a nobody. She's apparently a psychotherapist who forgot to apply her professional skills to Mikes need for attention and the silly things he then says and publishes to fulfill this need.

She likes Enya, isn't that enough of a reason to discount most of what she says? If not, lets take a guide through her favorite links, shall we?

9-11 truth? Some wild zealots there for sure. It indicates that she buys into Mikes 9-11 silliness. Alternative Press Review? From the Wilderness? LATOC? Surviving the Peak?

See any particular even handed number of links for ANY position in her links list? So, while her obvious zealotry might be interesting to some, it is unfortunate that there is no balance whatsoever.

So while we might admire her zealotry, I sure wouldn't expect anything even handed or even journalistic spinning off her keyboard.

[MountainHiker]

Yet when I look at my friends who c stand on the fiscal precipace of disaster I have to ask did they do anything that they were not suppose to? They listened their financial advisors, one even got an MBA they did everything that society told them they should do yet in a few years they too will be facing a fiscal abyss.

You make a good point. Over consumption and spending with no worries about future debt have been the cultural norms in this country since the 1990's. Unfortunately, the piper is on his way about now and it's time to start worrying.

Several of the wealthier people I know prefer having a mortgage over owning a house/property outright because of the tax breaks for the mortgage. I must be a low-rent retard, because I've never understood why having a piddly tax break beats having title in hand.

As for the folks who all thought they were going to become billionaires in the real estate bubble, too bad, so sad. I really don't feel sorry for any of them. Considering all of the warning signs, if they refused to understand that the last two years or so have been nothing more than "the bigger fool" phase, then they will get stuck being the bigger fools.

The first thing to remember about any investment markets is the big boys will always win and the small changes players will pay them those winnings. Getting in early, and out early is about the only way I can see the small guys winning. The key is figuring out which thing to get into earliy enough, and to overcome the greed required to get out early. Not easy.

[pstarr]

EnergyUnlimited, this is not a reference to consumer debt rather the 2% money/debt creation interest that accompanies the sale of federal bonds and the simultaneous issuance of currency.

The very extistance of the dollar in your wallet depends on the indebtedness of the citizenry to the investor class that buys those bonds.

[shortonoil]

.


The Mortgage Bankers Association estimates that some $330 billion worth of ARMs will adjust in 2006 and $1 trillion worth will reset by the end of 2007.

In the next 18 months $2.7 trillion in ARM’s will readjust. This will effect about 12-14 million mortgage holders by increasing their average monthly payment by 45 percent. I expect to see 3-4 million homes enter foreclosure during the next 24 months. 60% of the mortgages let in 2005 are already underwater; that is one or more payments behind. This will also close the door to the home ATM that has been fueling most of the increase seen in consumer spending for the last five years. MEW’s (mortgage equity withdrawals) have been contributing $500 billion per year to consumer spending, about 4% of the GDP.

This bubble has been fueled by the FED’s policy of keeping real interest rates below (substantially) the inflation rate. Since the FED has been misstating the real inflation rate, through a series of inflation evaluation methods that can only be described as black magic, the public has been completely unaware of the dangers of excessive debt creation. The FED’s artificially created cheap money gave the illusion of perpetual free wealth and as a result during the last 10 years personal debt has increased by 80%.

GSE’s (government sponsored entities) like Fannie Maye and Freddie Mac have allowed banks to distribute creative and questionable loans that are not a risk themselves. Almost all banks now sell their loans to a GSE and collect a healthy service fee for performing the loan process. Such as said by many, “if you can fog a mirror you can get a home loan”. The FED’s reduction of banks’ reserve limit from 10% to 5% has also contributed significantly to the housing appreciation bonanza.

The GSE’s have financed this spending spree by issuing bonds. The FF’s have presently issued $6 trillion in paper to mostly institutional buyers. These are mostly insurance companies, pension funds and banks. This $6 trillion is backed by the mortgages of homes that are, by historical values, now at least 50% overvalued. This situation puts the FF’s and their bond holders at considerable risk. The enviable decline in home values will result in the failing of many banks, pension funds and insurance firms, further eliminating much of the nations personal wealth.

The FED’s only motivation for this almost criminal manipulation of the money supply is certainly based in the political arena. The mostly unaware public has flocked to the free money trough, which was intentionally filled with a putrid mixture of toxins assured to create a large number of economic fatalities to the citizenry. How we can possibly blame the public for being unaware of the actions of a group of thugs, villains and thieves in the banking world is beyond understanding.

.

[shortonoil]

She isn't a nobody. She's apparently a psychotherapist who forgot to apply her professional skills to Mikes need for attention and the silly things he then says and publishes to fulfill this need.

She likes Enya, isn't that enough of a reason to discount most of what she says? If not, lets take a guide through her favorite links, shall we?

9-11 truth? Some wild zealots there for sure. It indicates that she buys into Mikes 9-11 silliness. Alternative Press Review? From the Wilderness? LATOC? Surviving the Peak?

See any particular even handed number of links for ANY position in her links list? So, while her obvious zealotry might be interesting to some, it is unfortunate that there is no balance whatsoever.

So while we might admire her zealotry, I sure wouldn't expect anything even handed or even journalistic spinning off her keyboard.

One of the most petty, pathetic, driveling attempts at debunking, by attacking the messenger, I have ever seen. Total content --- ZERO!

[MountainHiker]

The FED’s only motivation for this almost criminal manipulation of the money supply is certainly based in the political arena. The mostly unaware public has flocked to the free money trough, which was intentionally filled with a putrid mixture of toxins assured to create a large number of economic fatalities to the citizenry. How we can possibly blame the public for being unaware of the actions of a group of thugs, villains and thieves in the banking world is beyond understanding.

You do make a good point and perhaps I was a bit harsh on "the public" in my post above. I should realize that very few people are as cynical as me. That point was driven home after Colin Powell's Iraq invasion sales pitch to the UN where I was wondering what all the fuss was about and the vast majority of American's were quaking in fear, unfurling the flags, and chanting "Let's Roll."

I've seen this nastiness in action when one of my buddies who is president of a company and makes serious money was considering an ARM to get an even bigger house than the monstrosity he and his wife ended up buying. Luckily, she would not be any part of an ARM and they got a fixed rate.

I forget the exact number, but didn't ARMs account for 70+% of mortgages in 2005? Plus, I've heard that many of those purchases were 2nd and 3rd houses for investment and roll-over purposes. These folks will get hit hard, but they might still have a place to live after it all shakes out...maybe. Those that bought more house than they could afford and have the car payments, cell phones bills, etc on top of it are in for fully understanding the meaning of the term "gut-wrenching nightmare."

My guess is the powerbrokers are setting the stage for our future feudal system. They will come along and purchase nearly everything that remains of what they don't already own for pennies on the dollar. They'll also use religion to justify it and help the slaves accept their role in life and most of the sheep will go along with it. Then they'll use the propaganda machine and police state thuggery to deal with those that dissent.

Grim, I know, but so far I've been better at forcasting what's really happening with our government's actions than the vast majority of Americans.

[EnergyUnlimited]

EnergyUnlimited, this is not a reference to consumer debt rather the 2% money/debt creation interest that accompanies the sale of federal bonds and the simultaneous issuance of currency.

The very extistance of the dollar in your wallet depends on the indebtedness of the citizenry to the investor class that buys those bonds.

It may be correct now, but if in the past citizenery had REFUSED to incurr unreasonable debt, than we would have far healthier finance now.
Big investors would buy some federal bonds, found later that nothing great could be done with them (as common folk would not join a game) and all the scam would stop quite soon.
We could even still enjoy gold parity of dollar.

[ClubOfRomeII]

One of the most petty, pathetic, driveling attempts at debunking, by attacking the messenger, I have ever seen. Total content --- ZERO!

I had no intent of debunking anything, I was simply questioning her perspective on ANY subject considering the limited list of biased links she provides on her website. Most people who want to present an objective analysis of a particular point of view have at least the intellectual honesty to present both points of view before choosing and argueing for the one they prefer, and why.

No such hint of analysis or objectivity exists at her site. While I have no doubt that zealots agreeing with each other makes it very pleasant for all the zealots involved, it does nothing to test the concepts involved against reality.

Which is the point, I imagine. We can't have inquiring minds blowing huge and catastrophic holes in an idea pre-publication from which we wish to generate books sales from, now can we?

[dr_doom]

My guess is the powerbrokers are setting the stage for our future feudal system. They will come along and purchase nearly everything that remains of what they don't already own for pennies on the dollar. They'll also use religion to justify it and help the slaves accept their role in life and most of the sheep will go along with it. Then they'll use the propaganda machine and police state thuggery to deal with those that dissent.

Grim, I know, but so far I've been better at forcasting what's really happening with our government's actions than the vast majority of Americans.

Grim indeed, the order of things before oil was feudalism, the elites think that the order of things after oil should also be feudalism.

It's up to us to stop them doing this.

I've heard that many of those purchases were 2nd and 3rd houses for investment and roll-over purposes. These folks will get hit hard, but they might still have a place to live after it all shakes out...maybe.

This is the really worrying thing about the current situation. The middle-class has been brainwashed to gear themselves up with multiple BTL properties. Far from giving them further to fall, it means the amount of money they lose in a tightening credit / falling market situation is multiplied.

IMO this criticism (of banks etc) is completely mistaken one.
Common american citizens and no one else are to be blamed for this mess.
They are simply trying to "borrow themself rich" and the idea is a complete nonsense.

American citizens are responsible in so far as letting the money lenders install a privately owned / controlled central bank.

It is the money lenders that have carefully planned the current mess. It seems pretty predictable what their plan is, crash the housing market, then destroy the currency, and blame china for the latter.

This will achieve multiple objectives, transfer massive amounts of wealth to these hidden elites, and get the people of america fired up for a major war in central asia against russia/china.

[EnergyUnlimited]

This will achieve multiple objectives, transfer massive amounts of wealth to these hidden elites, and get the people of america fired up for a major war in central asia against russia/china.

Well, but by doing so the elites will lose everything, what they had gained in wealth transfer process.
10 000 or so of russian/chineese nukes will take care of it.

Obviously, there may be an idea in money lending industry, that it could be interesting to see large part of population unable to pay their debt.
However stupidity of average consumer is of paramount importance for this "plot" to succeed.
If the common folk was using credit facility in responsible manner, than all those sinister concepts of finnancial elites (if they really exist) would fail.

If the feudal system in the US of "post hydrocarbon era" is a part of design and the idea will succeed, it would only suggest, that most of american citizens do not deserve their freedom because they are misusing it.
"If you want to hurt stupid guy, than grant him a freedom" kind of idea. It would be a freedom to borrow money in this particular case.

However it may not be all lost. French revolution did happen after all. I can just imagine solar powered electric chair...

[dr_doom]

This will achieve multiple objectives, transfer massive amounts of wealth to these hidden elites, and get the people of america fired up for a major war in central asia against russia/china.

Well, but by doing so the elites will lose everything, what they had gained in wealth transfer process.
10 000 or so of russian/chineese nukes will take care of it.

I don't think destruction of the planet is their plan, but who knows. A really huge war in the middle-east and central asia, with tactical nukes being used seems like what they're thinking.

It remains to be seen how they will explain away the fact that the world hasn't been totalled by a full-scale nuclear exchange.

Obviously, there may be an idea in money lending industry, that it could be interesting to see large part of population unable to pay their debt.
However stupidity of average consumer is of paramount importance for this "plot" to succeed.
If the common folk was using credit facility in responsible manner, than all those sinister concepts of finnancial elites (if they really exist) would fail.

This may be a hard pill to swallow, but these elites have dumbed down the masses on purpose. And brainwashed them to spend beyond their means. They don't want people that can sit around a table and work out how badly they're getting fucked by 20% interest rates.

There is no risk for the banks in lending to these people who are obviously bad credit risks, because they are issuing credit out of thin air. To them it's credit, to us it's debt.

To create numbers out of thin air, and then charge interest on it, is a system of total slavery. The total debt can never repaid, which coerces people to work to pay off the debt in perpetuity. Americans have gone from being a nation of private independent citizens, to a nation of employees, one-step away from serfdom.

[Novus]

The problem and this has been said before is that you cannot have infinate growth in a infinate world. There is nothing wrong with creating money out of thin air if the world's economy could expand indefinately. When the system was set up it seemed by those in power that it could go on for ever. The problem is that it cannot go on forever. Now the world is waking up to this very inconveinent fact. The elites woke up first if you remember the club of Rome. Most at the club of Rome were super elite bankers and business people. When the world's elites got together and talked about limits to growth something was seriously wrong with the world's paradime. This was in 1970 mind you. The fall of the masses has been in planning for 40 years.

For all their crafty planning the elites will amount to nothing. On Easter Island they ate the chiefs too.