SOS Why is USA broke?

Why is USA broke?

• War (spend about USD700bil), none recorded about another USD700bil


• Rich evading taxation (offshore companies), hence, taxpayers paying for it (out of bailouts)

USA 1 dollar = 1 vote not per citizen

Global Currency War?

• IMF says they are selling 403 tonnes of Gold at market prices in 2010


• IMF takeover Greece & Ireland via money raised from sale of Gold

Tony Blair is paid USD43million by JP Morgan as advisor to Kuwait.

Gordon Brown said in his new book there are trillion toxic assets in banks (another USD20 trillions to go).

UK recovery is weaker than expected according to official data.

ELLEN BROWN on reforming the financial system suggested deficit easing, like have their own bank and lending to itself (like Dahkota). Generate your own credit for your own internal purpose not paying off external debt.

What the QE do to the countries? More debt, private debt collapse is replace by public debt. QE2 allows US to fund deficits at low interest.

MyView

Why is USA broke? Mainly because of derivatives and so is Europe.