Wall Street and the Rise of Obama

AIM Report | By Cliff Kincaid | November 20, 2008

Their plan also includes phasing out the U.S. dollar as the international reserve currency and establishing “a people’s inquiry into the mechanisms necessary for a just international monetary system.” Clearly, they intend to bring the U.S. into a system of international socialism, with new and more powerful global agencies deciding our economic and financial fate....

Stiglitz, a financial contributor to Obama’s presidential campaign and major backer of the national Democratic Party, is in a perfect position to guide the transition into a global socialist economy....

Financial analyst Peter Schiff, who also predicted the current crisis, warns that “the fundamentals loom simple and irrefutable: American borrowers of all stripes cannot afford to repay the trillions of dollars we owe. Over the past decade, the vast majority of lending has come from abroad, and as Americans don’t pay, the losses show up on foreign balance sheets. Since we blew most of the money we borrowed on consumption, we simply lack the industrial capacity to repay our debts without resorting to a printing press.”

All concerned Citizens should read the Title Link Article.