See other Business/Finance Articles
Title: THE BIGGEST ACCOUNTING HOAX SINCE ENRON
Source:
[None]
URL Source: http://research.agorafinancial.com/ ... e=LAWNS190&n=AWN_accthoax_0815
Published: Feb 7, 2016
Author: Jim Rickards
Post Date: 2016-02-07 16:10:40 by BTP Holdings
Keywords: None
Views: 202
Comments: 3
Dear reader, In late 2000, Charles Pearse, 63, retired a millionaire. Just a few months later he was flat broke. With a portfolio worth $1.3 million, he thought he would spend his golden years relaxing on a beach, playing golf with his friends, and traveling around the world. But when his company Enron went bust, his retirement fund went from $1.3 million to $13,000… in a little more than a year. It took him 33 years to save all that money. But in the blink of an eye, he lost everything. His retirement dreams were crushed. And now he’s trying to survive on a ridiculous $1,800 monthly Social Security check. His story is not unique. When Enron collapsed in 2001, more than 20,000 employees were thrown out on the streets. Thousands of investors and employees were wiped out when shares dropped from $90 to $0. Description Now, imagine the same type of financial catastrophe happening not just to the employees of one specific company… but all across America. Hi, Jim Rickards here. I’m the financial threat advisor the government turns to when it needs help. And during my most recent work with the Pentagon, CIA and Department of Defense, I uncovered another Enron type of scandal… An accounting hoax so big that it could lead to the next major financial crisis in America. I expect the fallout to reach $31.5 trillion… which is 525 times bigger than Enron. And this time, it’s not just employees and investors of a specific company who are in danger… All 300 million American citizens are a potential victim of the accounting hoax I’ll reveal today. If you have money parked in a savings account, CD, or even government bonds… you’ll be affected. If you have a 401(k) or IRA, you’ll be affected. If you own real estate, stocks, or any other asset denominated in U.S. dollars, you’ll be affected. Once this hoax appears on the front page of every newspaper in the country (possibly within the next 6 months), it’ll rock our financial system to the very core. Much like 9/11, or the day JFK was shot, you’ll remember where you were and what you were doing when this news finally hits the mainstream. Millions will be caught off guard. They will lose everything virtually overnight… just like Enron employees did. Because this hoax doesn’t involve just a regular corporation. It involves the most powerful financial institution in the world. A “private” institution that has a direct impact on many aspects of your day-to-day life… From how much you pay for healthcare… to how much interest you get from your bank account. From how much you collect in Social Security benefits… to how much you pay for gas and food. Put simply, when this institution fails, you could lose everything you worked so hard for your entire life. Poster Comment: Lots of graphics at source. The FED is engaged in the biggest hoax with their "fractional reserve system" of banking. Briefly, if you deposit $100,000 at the bank and the bank has a reserve requirement of 10 percent, the bank must keep $10,000 of your money on reserve and can lend out the $90,000.
Post Comment Private Reply Ignore Thread
Top • Page Up • Full Thread • Page Down • Bottom/Latest
#1. To: All (#0)
www.learningmarkets.com/u...l-reserve-banking-system/
"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke
Either the government isn't heeding his advice, or his advice is of questionable value. John Howard says: There are 4 schools of economics: How to End the Refugee Flood Not sure, but Obummer admin has racked up more debt than all the others put together. Actually, it is the spendthrift Congress that is to blame, but Obummer signed the budget bills. ;) "When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke
#2. To: BTP Holdings (#0)
Hi, Jim Rickards here. I’m the financial threat advisor the government turns to when it needs help...
Marxism: steal everything
Keynesianism: steal by counterfeiting whenever needed
Chicago school (Milton Friedman): steal by counterfeiting at a steady, predictable rate
Austrians: don't steal
'Wiped off the Map' – The Rumor of the Century
#3. To: PnbC (#2)
Either the government isn't heeding his advice, or his advice is of questionable value.
Top • Page Up • Full Thread • Page Down • Bottom/Latest