Obama ‘Running the Risk of Being the Last President of This Nation’

by | Nov 9, 2010 | Headline News, Karl Denninger | 36 comments

Do you LOVE America?


    If you’ve been paying attention to the US dollar, commodities, stocks and precious metals lately, you’ve likely noticed some big moves. Karl Denninger implies that Ben Bernanke and the policies of The Federal Reserve may have just kicked the currency war into high gear.

    Bloomberg reports that China is now taking measures to protect itself from mass amounts of capital inflows in order to prevent asset bubbles resulting from too many dollars being printed and sent overseas.

    It looks like the whole world, including Germany, Brazil, China and many other nations realize what’s going to happen if they don’t stop the flow of depreciating dollars into their economies – exported inflation and rising prices.

    After the recession of the early 90’s, the Fed helped blow the tech bubble which subsequently crashed. To save us again, the Fed blew the housing bubble which crashed. Now, it looks like they have blown a global asset bubble in one of the toughest economic growth periods in the last several decades. This will not end well for stocks or bonds. Commodities and precious metals are a slightly different ball game, in our opinion, but they, too, may experience significant declines in the event of a market panic and sell off.

    China and the rest of the world see what’s happening. We have the head of the World Bank talking about a gold standard, and Asian nations are discussing the creation of a mechanism of settlement other than the US dollar, effectively a regional reserve currency system.

    According to reports, China and other Asian nations are prepared to act in unison to curb the US monetary expansion by acting to prevent the inflows – perhaps there has even been talk of unloading US debt based assets all at once if it comes to that.

    Whatever happens, the end result is not going to be good for the America, or the rest of the world. We have previously warned that the newly instituted policies by China, and the outcry from the rest of the world may eventually result in a complete collapse of the US economy and the US dollar, a disconnect in asset prices, and in a worst-case scenario, the possible end of the world as we have come to know it.

    From Karl Denninger of Market Ticker

    This is going to get out of control very, very quickly unless you put your boot on his [Bernanke’s] neck and make this crap that is coming out of his mouth and fingers stop.

    If you approved of this with the idea that it would allow you to continue to deficit spend, you need to understand that you’re not in control of the decision.  Our trading partners are, and they’re saying “stop it right now or you’re done.”

    Brazil – and others – will follow this lead. If China does what I think is next – the creation of a Pan-Asian exchange mechanism by which to clear trading obligations – the United States dollar hegemony is ****ed.

    Bernanke has not been right about anything since 2005.  That’s documented.

    If you keep listening to him you’re running the risk of being the last President of this nation.

    That’s not a joke - or an exaggeration.

    Most Americans, distracted by reality TV sensations Snookie and The Situation, have absolutely no clue what is going on in the background. Our debt is staggering. Our government and central bank are completely out of control. Leaders and central bankers the world over are joining forces to counter the adverse effects of our policies on their economies.

    Unless something changes, and changes right now, it’s just a matter of time before our largest creditors finally block Congress’ unfettered access to unsecured credit – at which point all of the really bad things many of our readers have imagined that might happen, WILL actually happen.

    Remember, the last time we had a major financial crisis in the Fall of 2008, then Secretary Henry Paulson was quoted as saying that unless Congress acted to bailout the financial system, there would be tanks in the streets.

    If Paulson was serious then, and considering nothing has been resolved since, then we’ve got a very big problem on our hands.


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      1. Unless we mange to beat the longevity of the Roman Empire, I’d imagine EVERY president runs that risk……

      2. Obama ws put in office specifically to destroy this nation from within.  His bosses must be very pleased.  I always knew that man would destroy the country, but I’m surprised at how quickly he’s managing to do it.  Never let a crisis go to waste….

      3. The Fed has always been touted as being “independent” of politics even though anyone can look back at their record and see they were generally in support of the politicians of the time.  Anybody know how long the last appointment of Ben Bernanke is supposed to last?  Could the president ask for his resignation?
        Would Congress, who ratified his appointment, go along?  Would it do any good if he was thrown out on his ear?  Who would be dumb enough to take his place?

      4. Who thinks that’s NOT what he wants anyways?

      5. Makes me think of that Warren Zevon song

        But I don’t know what good lawyers will do right now and our money is going down the toilet, so I guess that leaves guns?

      6. Who would have ever thought after 9-11 the people would elect a Muslim to the white house to finish us off?  No matter what happens now or in the future, historians will laugh at that for centuries to come.  Even if humanity ends up like in the movie “Idiocracy” we will seem stupid to them for allowing that to happen.

        But its your corporation and you can elect whoever you want to run the illegal democracy you support with that vote and your “dollars”.  If you are still in it, better get as far away from the bomb as you can before she blows.

        Good luck.  We will all need it.

      7. Comments…..There will be two Presidents remembered in world US history… ,the first and the last “Washington & Obama. This was once a great nation, if not the greastest nation in the world!! but now at last has run out of road…………Wait we do not know that yet because we are still in the air and falling toward the groung. Because when we crash it is going to be horrible,as with the glen beck show. From normal to horror show in 15 days, total breakdown in 30-40 days………

      8. Well, I believe the train’s brakes are showing signs of failure. Our year or so of relatively slow decline has ended. Get ready for multiple stress points to intersect with predictable destruction.  One good sign I see around here (SHTFPlan), albeit small as it is, is that this site has a lot more readers than it used to. More prepping can’t hurt.

      9. And in other news a mysterious missile launch over the pacific from California’s once golden shores makes one wonder just how long we have until the mother of all wars begins in earnest. The big three, (China, Russia, Germany), are all decidedly pissed at the U.S. for pursuing such a potentially devastating economic policy; the big ten, (North Korea, China, Russia, Germany, Iran, etc, etc) are all on the verge of uniting monetarily (militarily) against us and we have no means of protecting ourselves as a nation other than nuclear (nukular for all the Bush fans) holocaust. Our military has been ruined by politics, our social stability has been undermined  the Liberal left, our love for God and Country has been eroded (destroyed) through the false ideology of multiculturalism, and our economy is on the verge of collapse due to the insane fiscal policies of a private institution which has been buying up American for the last 97 years! Stalin was right (among others) we have destroyed ourselves from within, and it is merely a matter of time before we are slaves to something far more sinister than the Federal Reserve or a front man such as the POTUS. A return to a Constitutional Republic will never happen folks, there is NO political solution to what ails us…..I do not know how much time we have left as free Americans but the time has come to choose. To serve the beast (system) IS the mark. ‘Choose ye this day whom you will serve’.

      10. That rocket could have been a flaming mylar bag of fertilizer or FRN’s.  What can Brown do for you….  When it absolutely has to get “over” there @ night, under the cover of darkness.

      11. sanityjones:
        “…. but as for me and my house, we will serve the LORD.”
        Joshua 24:15

      12. Looks like beans & silver are the winners today.

      13. Mac, excellent commentary.

        I see only the worst end in sight. I really don’t think our government has either the smarts or the desire to fix the problem. It only appears to me that it is intended destruction. I’ve felt this way since the crash of 2008. The destruction if fueled by greed and a total lack of concern for The People.

        Food, Fuel and Firearms. If you don’t have them, you better get them. While I don’t like being an alarmist, it appears to me that we have less that 6 months before the excrement hits the fan to the point where you’ll need them.

      14. Hey “Gods Abomination”, something your mother forgot to tell you….you’re retarded!!!

        It has been proven so many times that Obama is not a muslim you must have been in your cave. Also, even IF he was a muslim, so what!!!? You arrogant christians are all alike. You think YOU are the only religion.

        And by the way, again since you must have been in your cave and missed the previous administration, it was the Republicans who crashed the economy. We’re trying to fix what YOU messed up.

      15. What do all of you think of Bob Chapman’s forecast that the economy won’t crash for another two to two and a half years?   The U.S. recently began a two year Quantitative Easing program (funneled through the repo market) to the tune of  2 trillion this year and 2 trillion the next.  Bob says the economy will “move sideways” until the money runs out, but the S won’t HTF until then, which will be around the fall of 2012. 

      16. Comments….. Mariposa do Oro
        November 9th, 2010 at 10:38 am
        Obama ws put in office specifically to destroy this nation from within.  His bosses must be very pleased.  I always knew that man would destroy the country, but I’m surprised at how quickly he’s managing to do it.  Never let a crisis go to waste….
        Glenn Beck is blaming George Soros for America’s ills.
        We’re borrowing 40 cents for every dollar we spend.  This is not sustainable.  Entitlements will be the first to go.

      17. BLF:   Your probably smarter than your looks.

      18. Hey bif – You must have gotten lost.  Your at the wrong spot.  May as well take your ball and go home………

      19. If the sorry piece of shit Obama is the best we can do for a leader then so be it. 

        We don’t need any more presidents.

      20. Get wise: 8 years of Dick n’ Bush put this country in the sh*tter.  Obama is just the fool left holding the bag.

      21. Sure its bad, but it’s not insurmountable. Get a grip people! Don’t think Bernanke and company don’t know what they are doing. They know EXACTLY what they are doing. http://www.shtfeconomics.blogspot.com

        Unless currency parity is reached in one way or another, the only way there will be jobs in America again, is if the 30 million Illegals are sent home! The republican global fascists and democratic global socialists don’t want that!

        China is bitch’n because it won’t be “free trade” as usual, but “fair trade” when the dollar reaches new lows; and the dollar reserves that they have will be worth alot less. lol That’s ok, they have done well under the sysyem so far; its time for them to quit feeding at the American taxpayer trough and stand on their own.

        Germany is bitching because inflation in the USA will make German exports too expensive for the American market. I mean, really, do you want to spend $300,000 for a new mercedes? No, of course not! You will buy that Cadillac Escalade at $60,000 instead: US made and US gov’t owned.

        With austerity imposed upon the American population again, teenage girls will stop hanging out at the mall, buying $400 telephones and looking to ho’s like Paris Hilton and Brittney Spears as their role models.

        Sanity may Reign in America again when the easy money is gone.

      22. Thanks Bill.  SJ, we need a full mylar bag.  I understand Harley is moving to India.  More lost jobs.

      23. The irony is that Obama will be the last black president we ever elect!

      24. If you were to pull Bernankies pants down, who’s hand do you suppose would be shoved up his backside controlling the puppet?

      25. Amen crazy life. Harley Davidson belongs IN that bag Tom. Dave, everyone knows that one you go black, (well you know the rest), And to you Dennis, that hand would belong to Satan.

      26. Hey “blf”…Not to be antagonistic, but…I don’t know what religion Obama subscribes to, but from his actions, and specifically his WORDS, he is definetly NOT a Christian (nor was Bush, for that matter)…Also, just the fact that you’re blaming a political party for the ills of our once great nation tells me that you still don’t get the big picture here…

        To all else, please be cautious when listening to Glenn Beck. He is yet another media puppet of the establishment designed to cater to (and deceive) the sheeple that happen to have conservative values…

      27. Thanks for the warning.  I already missed Glenn Beck’s the 1st episode of “ George Soros, the Puppet Master” …….The left’s constantly attacking Beck, he must be gooood, LOL.

      28. Yep, the Dems are always attacking the Repub’s and vice versa, the left leaning media is always sparring with the right (Fox)…

        It’s all a carefully orchestrated “game” to keep the sheeples’ time and  minds occupied so that most fail to see the BIG picture…

        I didn’t “wake up” from the Matrix until I was 43 or so, and I still can’t believe I fell for it all those years. Everything all of a sudden makes sense and the puzzle pieces fit perfectly together now…

        Fighting amongst ourselves over religion, politics, race relations, etc is all part of the bad guy’s “Grand Design”…  

      29. @ Plane Guy

        You just discovered the truth Marx and Engels told 150 years ago.  There is not a “Grand Design”: capitalism is a social relationship where every step forward by bourgeois class is a step backward for worker class, and any class collaboration is a dangerous illusion for proletariat. So class struggle is the only scientific outcome: bourgeois class organize quite well its fight against workers: wars, exploitation, inflation, etc; it’s up to the proletariat to organize its class struggle against capitalists as well, by means of a revolutionary leninist internationalist party.

      30. @Mushroom

      31. Comments….. Dave
        November 9th, 2010 at 8:55 pm
        The irony is that Obama will be the last black president we ever elect!

      32. blf
        November 9th, 2010 at 4:29 pm
        Hey “Gods Abomination”, something your mother forgot to tell you….you’re retarded!!!
        It has been proven so many times that Obama is not a muslim you must have been in your cave. Also, even IF he was a muslim, so what!!!? You arrogant christians are all alike. You think YOU are the only religion.
        you are an ahole.
        First, my IQ is 145 leaving me far from “retarded”.  Truth be known, if you were standing in front of me right now I would probably get violent against your ignorance.  Why?  I have a son that has been labeled “mentally retarded” by the STATE.  I reject their label for my son, and laugh at the one you attempt to place on me.
        Secondly, Obama has bowed more than once to Muslim leaders.  An American president should bow to no one, but a muslim MUST bow to his religious leaders.  He is also all over Youtube telling the world the US is NOT a christian nation.  You just don’t see those things in the MSM
        Lastly, I am not a Christian.  I am of Natures God and try to peacefully exist with Mother Earth and the positive energies of the universe.  For the record, Jesus would not set foot in the churches established in his name.  They are STATE churches operating under the full approval of the IRS.
        My relationship with God is my own.  It is not what others say it needs to be or should be.  It is what I feel it is and needs no approval from you or any other idiot who claims to know the unknowable.
        You are personally invited to Tennessee so I can, in the wisdom and words of Hank Hill, “kick your ass”.  I will let my son watch so he understands what should happen to people like you, and why his daddy spends so much time hitting and kicking bags of sand.
        It’s important he learn the value of a bullet, and why wasting them on idiots like you is not necessary.  And not nearly as much fun as the sound of crunching skull when their is no brain inside it.
        You can get here cheaply as you would only need a one way ticket.
        I apologize to everyone else for this posting.  Violence is not my nature, but protecting my son from people like that in the future  IS.  That is why God gave him to me instead of an idiot like blf

      33. Republicans

        Its all a shell game

        same monster different names and heads of the same beast..
        The power they posses is to suppress its citizens ,, period

        If you think otherwise..they already own you. and have you in their corner.
        The lies, the cover ups..the missdirection..the deception..all part of the game for them

        Chattel..thats all we are..and we also could easily be colateral damage in a heart beat if we dont turn this debacle of a “so called government” around.

        States men, constitutionalists..you know, Real americans

      34. @ Gods Creation

        Thank you for your comment.  Too bad about bif.  As my dad always said,  “You can’t fix stupid but you can beat it…..”.

      35. Unless  we have the economic collapse,  everyone is fearing, this nation is doomed.
        A total collapse of the Fed government, is exactly what it will take, to re-establish the Constitution,  and eliminate the stupidity coming out of  DC.
        It will force us to be American again, and proud of it.

        Who was the last President to believe in “AMERICA AND AMERICANS FIRST”?   It’s been along time.

      36. Bernanke isn’t going to stop until our financial house has completed burnt down and collapse.

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