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Showing posts with label Federal Reserve. Show all posts
Showing posts with label Federal Reserve. Show all posts

Saturday, October 27, 2012

Project Censored: Top 10 Underreported Stories By The Mainstream Media


(Yael Chanoff)  People who get their information exclusively from mainstream media sources may be surprised at the lack of enthusiasm on the left for President Barack Obama in this crucial election. But that’s probably because they weren’t exposed to the full online furor sparked by Obama’s continuation of his predecessor’s overreaching approach to national security, such as signing the 2012 National Defense Authorization Act, which allows the indefinite detention of those accused of supporting terrorism, even U.S. citizens.
We’ll never know how this year’s election would be different if the corporate media adequately covered the NDAA’s indefinite detention clause and many other recent attacks on civil liberties. What we can do is spread the word and support independent media sources that do cover these stories. That’s where Project Censored comes in.
Project Censored has been documenting inadequate media coverage of crucial stories since it began in 1967 at Sonoma State University. Each year, the group considers hundreds of news stories submitted by readers, evaluating their merits. Students search Lexis Nexis and other databases to see if the stories were underreported, and if so, the stories are fact-checked by professors and experts in relevant fields.
A panel of academics and journalists chooses the Top 25 stories and rates their significance. The project maintains a vast online database of underreported news stories that it has “validated” and publishes them in an annual book. Censored 2013: Dispatches from the Media Revolution will be released Oct. 30.
For the second year in row, Project Censored has grouped the Top 25 list into topical “clusters.” This year, categories include “Human cost of war and violence” and “Environment and health.” Project Censored Director Mickey Huff told us the idea was to show how various undercovered stories fit together into an alternative narrative, not to say that one story was more censored than another.
In May, while Project Censored was working on the list, another 2012 list was issued: the Fortune 500 list of the biggest corporations, whose influence peppers the Project Censored list in a variety of ways.
Consider this year’s top Fortune 500 company: ExxonMobil. The oil company pollutes everywhere it goes, yet most stories about its environmental devastation go underreported. Weapons manufacturers Lockheed Martin (58 on the Fortune list), General Dynamics (92), and Raytheon (117) are tied into stories about U.S. prisoners in slavery conditions manufacturing parts for their weapons and the underreported war crimes in Afghanistan and Libya.
These powerful corporations work together more than most people think. In the chapter exploring the “global 1 percent,” writers Peter Philips and Kimberly Soeiro explain how a small number of well-connected people control the majority of the world’s wealth. In it, they use Censored story number 6, “Small network of corporations run the global economy,” to describe how a network of transnational corporations are deeply interconnected, with 147 of them controlling 40 percent of the global economy’s total wealth.
For example, Philips and Soeiro write that in one such company, BlackRock Inc., “The 18 members of the board of directors are connected to a significant part of the world’s core financial assets. Their decisions can change empires, destroy currencies and impoverish millions.”
Another cluster of stories, “Women and Gender, Race and Ethnicity,” notes a pattern of underreporting stories that affect a range of marginalized groups. This broad category includes only three articles, and none are listed in the top 10. The stories reveal mistreatment of Palestinian women in Israeli prisons, including being denied medical care and shackled during childbirth, and the rape and sexual assault of women soldiers in the U.S. military. The third story in the category concerns an Alabama anti-immigration bill, H.B. 56, that caused immigrants to flee Alabama in such numbers that farmers felt a dire need to “help farms fill the gap and find sufficient labor.” So the Alabama Department of Agriculture and Industries approached the state’s Department of Corrections about making a deal where prisoners would replace the fleeing farm workers.
But with revolutionary unrest around the world, and the rise of a mass movement that connects disparate issues together into a simple, powerful class analysis — the 99 percent versus the 1 percent paradigm popularized by Occupy Wall Street — this year’s Project Censored offers an element of hope.
It’s not easy to succeed at projects that resist corporate dominance, and when it does happen, the corporate media is sometimes reluctant to cover it. Number seven on the Top 25 list is the story of how the United Nations designated 2012 the International Year of the Cooperative, recognizing the rapid growth of co-op businesses, organizations that are part-owned by all members and whose revenue is shared equitably among members. One billion people worldwide now work in co-ops.
The Year of the Cooperative is not the only good-news story discussed by Project Censored this year. In Chapter 4, Yes! Magazine’s Sarah Van Gelder lists “12 ways the Occupy movement and other major trends have offered a foundation for a transformative future.” They include a renewed sense of “political self-respect” and fervor to organize in the United States, debunking of economic myths such as the “American dream,” and the blossoming of economic alternatives such as community land trusts, time banking and micro-energy installations.
As Dr. Nafeez Mosaddeq Ahmed writes in the book’s foreword, “The majority of people now hold views about Western governments and the nature of power that would have made them social pariahs 10 or 20 years ago.”
Citing polls from the corporate media, Mosaddeq writes: “The majority are now skeptical of the Iraq War; the majority want an end to U.S. military involvement in Afghanistan; the majority resent the banks and financial sector, and blame them for the financial crisis; most people are now aware of environmental issues, more than ever before, and despite denialist confusion promulgated by fossil fuel industries, the majority in the United States and Britain are deeply concerned about global warming; most people are wary of conventional party politics and disillusioned with the mainstream parliamentary system.”
“In other words,” he writes, “there has been a massive popular shift in public opinion toward a progressive critique of the current political economic system.”
And ultimately, it’s the public — not the president and not the corporations—that will determine the future. There may be hope after all. Here’s Project Censored’s Top 10 list for 2013:
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1. Signs of an emerging police state
President George W. Bush is remembered largely for his role in curbing civil liberties in the name of his “war on terror.” But it’s President Obama who signed the 2012 NDAA, including its clause allowing for indefinite detention without trial for terrorism suspects. Obama promised that “my administration will interpret them to avoid the constitutional conflict” — leaving us adrift if and when the next administration chooses to interpret them otherwise. Another law of concern is the National Defense Resources Preparedness Executive Order that Obama issued in March 2012. That order authorizes the president, “in the event of a potential threat to the security of the United States, to take actions necessary to ensure the availability of adequate resources and production capability, including services and critical technology, for national defense requirements.” The president is to be advised on this course of action by “the National Security Council and Homeland Security Council, in conjunction with the National Economic Council.” Journalist Chris Hedges, along with co-plaintiffs including Noam Chomsky and Daniel Ellsberg, won a case challenging the NDAA’s indefinite detention clause on Sept. 1, when a federal judge blocked its enforcement, but her ruling was overturned on Oct. 3, so the clause is back.
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2. Oceans in peril 
Big banks aren’t the only entities that our country has deemed “too big to fail.” But our oceans won’t be getting a bailout anytime soon, and their collapse could compromise life itself. In a haunting article highlighted by Project Censored, Mother Jones reporter Julia Whitty paints a tenuous seascape — overfished, acidified, warming — and describes how the destruction of the ocean’s complex ecosystems jeopardizes the entire planet, not just the 70 percent that is water. Whitty compares ocean acidification, caused by global warming, to acidification that was one of the causes of the “Great Dying,” a mass extinction 252 million years ago. Life on Earth took 30 million years to recover. In a more hopeful story, a study of 14 protected and 18 non-protected ecosystems in the Mediterranean Sea showed dangerous levels of biomass depletion. But it also showed that the marine reserves were well-enforced, with five to 10 times larger fish populations than in unprotected areas. This encourages establishment and maintenance of more reserves.
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3. U.S. deaths from Fukushima 
A plume of toxic fallout floated to the U.S. after Japan’s tragic Fukushima nuclear disaster on March 11, 2011. The U.S. Environmental Protection Agency found radiation levels in air, water and milk that were hundreds of times higher than normal across the United States. One month later, the EPA announced that radiation levels had declined, and they would cease testing. But after making a Freedom of Information Act request, journalist Lucas Hixson published emails revealing that on March 24, 2011, the task of collecting nuclear data had been handed off from the U.S. Nuclear Regulatory Commission to the Nuclear Energy Institute, a nuclear industry lobbying group. And in one study that got little attention, scientists Joseph Mangano and Jeanette Sherman found that in the period following the Fukushima meltdowns, 14,000 more deaths than average were reported in the U.S., mostly among infants. Later, Mangono and Sherman updated the number to 22,000.
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4. FBI agents responsible for terrorist plots 
We know that FBI agents go into communities such as mosques, both undercover and in the guise of building relationships, quietly gathering information about individuals. This is part of an approach to finding what the FBI now considers the most likely kind of terrorists, “lone wolves.” Its strategy: “seeking to identify those disgruntled few who might participate in a plot given the means and the opportunity. And then, in case after case, the government provides the plot, the means, and the opportunity,” writes Mother Jones journalist Trevor Aaronsen. The publication, along with the Investigative Reporting Program at the University of California-Berkeley, examined the results of this strategy, 508 cases classified as terrorism-related that have come before the U.S. Department of Justice since the 9/11 terrorist attacks of 2001. In 243 of these cases, an informant was involved; in 49 cases, an informant actually led the plot. And “with three exceptions, all of the high-profile domestic terror plots of the last decade were actually FBI stings.”
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5. Federal Reserve loaned trillions to major banks 
The Federal Reserve, the U.S.’s quasi-private central bank, was audited for the first time in its history this year. The audit report states, “From late 2007 through mid-2010, Reserve Banks provided more than a trillion dollars … in emergency loans to the financial sector to address strains in credit markets and to avert failures of individual institutions believed to be a threat to the stability of the financial system.” These loans had significantly less interest and fewer conditions than the high-profile TARP bailouts, and were rife with conflicts of interest. Some examples: the CEO of JP Morgan Chase served as a board member of the New York Federal Reserve at the same time that his bank received more than $390 billion in financial assistance from the Fed. William Dudley, who is now the New York Federal Reserve president, was granted a conflict of interest waiver to let him keep investments in AIG and General Electric at the same time the companies were given bailout funds. The audit was restricted to Federal Reserve lending during the financial crisis. On July 25, 2012, a bill to audit the Fed again, with fewer limitations, authored by Rep. Ron Paul, passed the House of Representatives. H.R. 459 was expected to die in the Senate, but the movement behind Paul and his calls to hold the Fed accountable, or abolish it altogether, seem to be growing.
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6. Small network of corporations run the global economy 
Reporting on a study by researchers from the Swiss Federal Institute in Zurich didn’t make the rounds nearly enough, according to Censored 2013. They found that, of 43,060 transnational companies, 147 control 40 percent of total global wealth. The researchers also built a model visually demonstrating how the connections between companies — what it calls the “super entity” — works. Some have criticized the study, saying control of assets doesn’t equate to ownership. True, but as we clearly saw in the 2008 financial collapse, corporations are capable of mismanaging assets in their control to the detriment of their actual owners. And a largely unregulated super entity like this is vulnerable to global collapse.
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7. The International Year of Cooperative
Can something really be censored when it’s straight from the United Nations? According to Project Censored evaluators, the corporate media underreported the U.N. declaring 2012 to be the International Year of the Cooperative, based on the co-op business model’s stunning growth. The U.N. found that, in 2012, 1 billion people worldwide are co-op member-owners, or one in five adults over age 15. The largest is Spain’s Mondragon Corporation, with more than 80,000 member-owners. The U.N. predicts that by 2025, worker-owned co-ops will be the world’s fastest growing business model. Worker-owned cooperatives provide for equitable distribution of wealth, genuine connection to the workplace, and, just maybe, a brighter future for our planet.
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8. NATO war crimes in Libya
In January 2012, the BBC “revealed” how British Special Forces agents joined and “blended in” with rebels in Libya to help topple dictator Muammar Gadaffi, a story that alternative media sources had reported a year earlier. NATO admits to bombing a pipe factory in the Libyan city of Brega that was key to the water supply system that brought tap water to 70 percent of Libyans, saying that Gadaffi was storing weapons in the factory. In Censored 2013, writer James F. Tracy makes the point that historical relations between the U.S. and Libya were left out of mainstream news coverage of the NATO campaign; “background knowledge and historical context confirming Al-Qaeda and Western involvement in the destabilization of the Gadaffi regime are also essential for making sense of corporate news narratives depicting the Libyan operation as a popular ‘uprising.’”
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9. Prison slavery in the U.S.
On its website, the UNICOR manufacturing corporation proudly proclaims that its products are “made in America.” That’s true, but they’re made in places in the U.S. where labor laws don’t apply, with workers often paid just 23 cents an hour to be exposed to toxic materials with no legal recourse. These places are U.S. prisons. Slavery conditions in prisons aren’t exactly news. It’s literally written into the Constitution; the 13th Amendment, which abolished slavery, outlaws “slavery nor involuntary servitude, except as a punishment for crime whereof the party shall have been duly convicted.” But the articles highlighted by Project Censored this year reveal the current state of prison slavery industries, and its ties to war. The majority of products manufactured by inmates are contracted to the Department of Defense. Inmates make complex parts for missile systems, battleship anti-aircraft guns and landmine sweepers, as well as night-vision goggles, body army and camouflage uniforms. Of course, this is happening in the context of record high imprisonment in the U.S., where grossly disproportionate numbers of African Americans and Latinos are imprisoned, and can’t vote even after they’re freed. As psychologist Elliot D. Cohen puts it in this year’s book: “This system of slavery, like that which existed in this country before the Civil War, is also racist, as more than 60 percent of U.S. prisoners are people of color.”
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10. H.R. 347 criminalizes protest
H.R. 347, sometimes called the “criminalizing protest” or “anti-Occupy” bill, made some headlines. But concerned lawyers and other citizens worry that it could have disastrous effects for the First Amendment right to protest. Officially called the Federal Restricted Grounds Improvement Act, the law makes it a felony to “knowingly” enter a zone restricted under the law, or engage in “disorderly or disruptive” conduct in or near the zones. The restricted zones include anywhere the Secret Service may be — places such as the White House, areas hosting events deemed “National Special Security Events,” or anywhere visited by the president, vice president and their immediate families; former presidents, vice presidents and certain family members; certain foreign dignitaries; major presidential and vice presidential candidates (within 120 days of an election); and other individuals as designated by a presidential executive order. These people could be anywhere, and NSSEs have notoriously included the Democratic and Republican National Conventions, Super Bowls and the Academy Awards. So far, it seems the only time H.R. 347 has kicked in is with George Clooney’s high-profile arrest outside the Sudanese embassy. Clooney ultimately was not detained without trial — information that would be almost impossible to censor — but what about the rest of us who exist outside of the mainstream media’s spotlight?

THERE IS SOOOO MUCH MORE AT THIS WEBSITE THAT YOU MUST CHECK IT OUT!!!

Thursday, June 4, 2009

Printing Money, Domestic Inflation WILL Rise.

No Sunshine and Lollipops in the U.S. Economic Future
June 4th, 2009 1:29 pm | by Mike Miller of Liberty Maven

If you’ve been following the actions of the Federal Reserve, the Treasury Secretary, and big spenders in government, it’s quite clear that our economic woes won’t be over any time soon. In fact, we’re potentially headed for a cataclysmic disaster (if that’s not repetitively redundant enough for you).

The Fed has lowered interested rates to effectively zero, and is now embarking on massive quantitative easing (a fancy euphemism for printing money) which could ultimately result in the destruction of the U.S. Dollar.

China is buying less and less of our bonds, and foreign governments are holding less and less dollars in favor of the Euro or other currencies, and there are even calls to have the dollar replaced as the world’s reserve currency.

US Treasury Secretary Timothy Geithner has gone to China to calm the fears. However, even before he arrived, a Chinese central bank spokesman gave Geithner the message that the US should not assume China will continue to finance Washington’s extravagant budgets. The governor of China’s central bank is calling for the abandonment of the dollar as reserve currency, using the International Monetary Fund’s Special Drawing Rights in its place.

The method by which the Fed “prints money” is by creating money out of thin air and then uses this money to buy our own Treasuries.

Washington’s financial irresponsibility has brought pressure on the dollar and the US bond market. Federal Reserve Chairman Bernanke thought he could push down interest rates on Treasuries by purchasing $300 billion of them. However, the result was to cause a sharp drop in Treasury prices and a rise in interest rates.

As monetization of federal debt goes forward, US interest rates will continue to rise, worsening the problems in the real estate sector. The dollar will continue to lose value, making it harder for the US to finance its budget and trade deficits. Domestic inflation will raise its ugly head despite high unemployment.

The incompetents who manage US economic policy have created a perfect storm.



Life for most Americans will become truly stressful.

No sunshine and lollipops here.

Read As the Dollar Falls off a Cliff… by Paul Craig Roberts in its entirety and subscribe to Liberty Maven.

Thursday, February 19, 2009

Nearly 5 million are getting unemployment benefits

Associated Press

WASHINGTON – The number of laid-off workers receiving unemployment benefits has jumped to an all-time high near 5 million while new jobless claims remain well above 600,000. Both figures were worse than expected and new projections from the Federal Reserve show unemployment rising for the rest of this year.

The Labor Department reported Thursday that the number of people receiving regular unemployment benefits rose 170,000 to 4.99 million for the week ending Feb. 7, marking the fourth straight week those receiving benefits have been at a record level on data going back to 1967.

The continuing claims figure also was significantly above the year-ago level of 2.77 million and underscored the difficulty people are having in this recession finding another job once they are laid off.

An additional 1.5 million people are receiving benefits under an extended unemployment compensation program approved by Congress last year, bringing the total number of people receiving unemployment benefits to 6.54 million for the week ending Feb. 7.

"The labor market is in disarray," said Mark Zandi, chief economist at Moody's Economy.com. It's possible that job losses for all of February could total between 700,000 and 750,000 based on what weekly claims have done so far this month, he added.

Employers slashed a net total of 598,000 jobs in January, the most since 1974.

In other economic news, wholesale inflation surged unexpectedly in January, according to the Labor Department. Wholesale prices jumped 0.8 percent last month, the biggest gain since July and well above the 0.2 percent increase that economists expected.

The acceleration was led by a 3.7 percent surge in energy prices with gasoline prices jumping 15 percent, the biggest gain in 14 months. Even outside the volatile food and energy sectors, wholesale prices showed a bigger-than-expected increase, rising by 0.4 percent.

The New York-based Conference Board said its January index of leading economic indicators rose 0.4 percent, the second straight monthly gain. Economists expected no change in the index, which forecasts economic activity for the next three to six months based on 10 economic components, including stock prices, building permits and initial claims for unemployment benefits.

The Conference Board said the single biggest boost to the index was the real money supply. The government's effort to address the credit crisis has put more money in circulation. Other positive factors were the interest rate spread, an index of consumer expectations, and manufacturing orders for non-defense and consumer goods. Unemployment claims and building permits were among the biggest drags.

On Wall Street, stocks fell in afternoon trading. The Dow Jones industrial average lost more than 30 points, and broader indicators also slid.

New applications for unemployment benefits totaled 627,000 last week, the same as the previous week, according to the department. But that was still more than the 620,000 claims economists expected.

It also remained near the 631,000 claims filed three weeks ago, which was the highest tally since October 1982, when the economy was emerging from a steep recession, though the labor force has grown by about half since then. A year ago, initial claims stood at 342,000.

The four-week average for claims rose to 619,000 last week, up from 608,500 the previous week which was the first time the figure had topped 600,000 during the economic downturn.

By MARTIN CRUTSINGER, AP Economics Writer Martin Crutsinger, Ap Economics Writer – 56 mins ago
The cascade of layoff notices in recent weeks has heightened concerns about the current recession, already the longest in a quarter-century.

Goodyear Tire & Rubber Co., said Wednesday it will cut nearly 5,000 jobs, or almost 7 percent of the biggest U.S. tire maker's work force, this year after it posted a fourth-quarter loss and revenue sank 21 percent. The cuts follow the elimination of about 4,000 jobs in the second half of last year.

General Motors Corp. and Chrysler on Tuesday filed plans with the government more than doubling their request for aid to a total of $39 billion and announced plans for thousands more job cuts. GM alone said it would cut 47,000 jobs globally by the end of the year — 19 percent of its work force, and Chrysler said it will cut 3,000 more jobs.

The Fed released a new economic forecast on Wednesday that reduced its growth forecast for 2009 and increased its unemployment rate projections. The new forecast predicts that unemployment will hit between 8.5 and 8.8 percent this year, up from the current level of 7.6 percent.

"The economy faces obstacles that are likely to work against a strong rebound of growth over the next several quarters," Dennis Lockhart, president of the Federal Reserve Bank of Atlanta and a voting member of the Fed's policymaking arm, said Thursday.

"Those obstacles include credit markets not yet returned to healthy functioning, a housing market still weighed down by an excess supply of homes for sale and low business and household confidence," he said in a speech in Alabama. "None of these is likely to turn around quickly."

President Barack Obama pointed to the deteriorating economy to win quick passage of an $787 billion economic stimulus program which he signed into law this week. On Wednesday, Obama unveiled a $75 billion program aimed at halting the surging level of mortgage foreclosures in the wake of the worst slump in housing in decades.

For the week ending Feb. 7, the states with the largest increases in jobless applications were Kentucky and Arkansas, which blamed the jumps on rising layoffs in the mining, trade and manufacturing industries. The biggest decreases were recorded in California and Tennessee, which reported fewer layoffs in the construction, trade, service and manufacturing industries.

Wednesday, February 18, 2009

Fed downgrades economic forecast for this year

Associated Press

WASHINGTON: The Federal Reserve on Wednesday sharply downgraded its projections for the United States' economic performance this year, predicting the economy will actually shrink and unemployment will rise higher.

Under the new projections, the unemployment rate will rise to between 8.5 and 8.8 percent this year. The old forecasts, issued in mid-November, predicted the jobless rate would rise to between 7.1 and 7.6 percent.

The Fed also believes the economy will contract this year between 0.5 and 1.3 percent. The old forecast said the economy could shrink by 0.2 percent or expand by 1.1 percent.

The last time the economy registered a contraction for a full year was in 1991, by 0.2 percent. If the Fed's new predictions prove correct, it would mark the weakest showing since a 1.9 percent drop in 1982, when the U.S. had suffered through a severe recession.

The bleaker outlook represents the growing toll of the worst housing, credit and financial crises since the 1930s. All of those negative forces have plunged the nation into a recession, now in its second year.

"Given the strength of the forces currently weighing on the economy," Fed officials "generally expected that the recovery would be unusually gradual and prolonged," according to documents on the Fed's updated economic outlook.

Against that backdrop, unemployment — now at 7.6 percent, the highest in more than 16 years — will keep climbing and stay elevated for quite some time, the Fed predicted.

Fed officials anticipated that unemployment would remain "substantially" higher than normal at the end of 2011 "even absent further economic shocks."

The Fed forecast calls for the jobless rate to dip to between 8 and 8.3 percent next year, and to between 7.5 and 6.7 percent in 2011. All those projections are worse than the Fed's previous estimates and would put unemployment higher than the normal range around 5 percent.

Employment is usually the last piece of the economy to heal once the country is out of recession and in recovery mode. Businesses are usually reluctant to ramp up hiring until they feel confident that any recovery has staying power.

Under the Fed's new projections, the economy should grow between 2.5 and 3.3 percent next year. Fed officials "generally expected that strains in financial markets would ebb only slowly and hence that the pace of recovery in 2010 would be damped," according to the Fed documents.

Fed officials, however, predicted the economy would pick up speed in 2011, growing by as much as 5 percent, which would be considered robust.

Still, given all the economy's problems, there are risks that the Fed's forecasts could turn out to be too optimistic.

And a few Fed officials — none are identified — feared that it could take five or six years for the economy and employment to get back into a sustainable mode of health.

On the inflation front, the weak economy should mean that companies will keep a lid on price increases this year as they try to lure skittish consumers.

The Fed expects prices to rise between 0.3 and 1 percent this year, down from a projection of between 1.3 and 2 percent in the fall. Prices will pick up slightly in 2010 and 2011 as the economy strengthens.

For now, Fed officials are more worried about falling prices, than rising ones.

The Fed didn't use the word "deflation," which is a dangerous bout of falling prices, but officials noted "some risk of a protracted period of excessively low inflation."

Falling prices sound like a gift at first — at least to consumers. But a widespread and prolonged decline can wreak more havoc on the economy, dragging down Americans' wages, and clobbering already-stricken home and stock prices. Dropping prices already are hurting businesses' profits, forcing them to slice capital investments and lay off workers.

America's last serious case of deflation was during the Great Depression in the 1930s. Japan was gripped with a period of deflation during the 1990s, and it took a decade for that country to overcome those problems.

Saturday, November 22, 2008

The Amero and the North American Union

Looking further into the issue of the Amero and it's probable overtaking upon the inevidable North American Union, I have researched and found that claim to be false...sorry Hal Turner. Nice try.

According to Snopes, "Ameros are in fact private-issue fantasy pattern coins that will be struck as an annual series, and indeed is already offering them for sale. Neither the U.S. Mint nor the U.S. Treasury has had a hand in creating these "Ameros". These coins are merely collectibles offered to the buying public by a private company in the business of manufacturing such curiosities."

Additionally, according to Wikipedia,"The North American Currency Union is a theorized economic and monetary union of the three principal countries of North America, namely Canada, the United States, and Mexico. Implementation would probably involve the three countries giving up their current currency units (Canadian dollar, U.S. dollar, and Mexican pesos) and adopting a new one, created specifically for this purpose. The hypothetical currency for the union is most often referred to as the amero...Conspiracy theorists contend that the governments of the United States, Canada, and Mexico are already taking steps to implement such a currency, as part of a "North American Union (NAU)"..."

"No current members of any country's government have officially stated a desire to create such a body, nor introduce a common currency."


"The idea for a North American currency union was first proposed in 1999 by Canadian economist Herbert G. Grubel...Opposition to a North American currency union exists high up in the governments on both sides of the Canada–United States border. Herbert Grubel, the first proponent of the amero, admits that
American officials show no interest in the topic.

In August 2007, rumors and conspiracy theories began circulating across the Internet regarding alleged United States Treasury-issued "amero" coins.

The inspiration behind these rumors may have been the posting of images of medallions created by coin designer Daniel Carr. Carr...sells medals and tokens of his own design on his commercial website, "Designs Computed" (also known as "DC Coin"). Among his designs are a series of gold, silver and copper
fantasy issues
of "amero coins" ranging in denomination from one to one thousand. The coins have the legend "Union of North America" on the back with his company's logo, a stylized "DC", in small type. Concerning his "amero" designs, he mentions on his website:

“ My goal with these coins is not to endorse a Union of North America or a common "Amero" currency. I fully support the United States Constitution, and I would not welcome (in any form) a diminishment of its provisions. I expect that these coins will help make more people aware of the issue and the possible ramifications. I leave it up to others to decide if they are in favor of, or against a North American Union. And I encourage citizens to voice their approval or disapproval of government plans that impact them."


"Hal Turner released a video showing an apparent 20 Amero coin, with claims that shipments of the currency had been sent to China. Yet the coin in Hal Turner's video is identical to a medallion on Daniel Carr's "dc-coin" website, listed as "UNA 2007 20 Ameros, Copper, Satin Finish."

So, fear not. The Amero is not coming to town to take over our dollar.