NEO: The bogus legend of Paul Volcker


DISCLOSURE: Sourced from Russian government funded media


  1. “A billion here, a billion there, and pretty soon you’re talking about real money.”
    Everett Dirksen
    Dirksen was a colorful politician from Illinois. A trillion is one thousand billion. Today one must substitute the word trillion for billion in the above phrase. Does anyone really know the amount of the federal government debt today? I doubt it. Does anyone care? I doubt it. Supposedly they pay the interest on this massive debt to whomever and whatever its value is. Supposedly this is why interest rates are today kept as low as possible in order to keep these debt payments to the lenders as low as possible. Low interest rates also have the benefit of encouraging consumers to buy new homes and cars, often beyond their means to pay, so when the bottom falls out they will be on the streets again. Responsible senior citizens get the shaft with this policy because they are forced to use principal to live on, eating up their hard earned life savings. Does anyone really believe our government ever intends to begin paying down the multi trillions of dollars in principal of this massive debt? I believe they intend to default on it don’t you? They are like children in Nursery School being given matches to play with in the sandbox.

  2. Comes to think of it part of Volcker rule of the Obama era was the full restoration of the “Net Capital Rule” that its destruction by King Henry Paulson the criminal in 2003 was the primary reason for the crash. Lookup Net Capital Rule

  3. The break with gold wasn’t Volcker’s idea, it was William Simon’s a lackey of Irving Kristol and it was because of the increase in oil price that Mohammad Reza Shah of Iran started doing with OPEC which ultimately resulted in the world’s economic downturn and in his removal by bringing in Khomeini, which went wrong because Khomeini sized the power instead of going to sit in Qom. (Read and listen to Andrew Scott Cooper to see how Shah was removed by CIA)

    Volcker kept the interest rates high during Carter’s or as you call him the “peanut farmer” term and when the conman Reagan came in he kept Volcker during his first term to keep the interest rates high ans borrowing low and right before his second term told him to drop the rates, hence taking credit for the huge surge in borrowing. Then Reagan let Volcker go to deregulate the heck out of the US because Volcker wasn’t a deregulator.

  4. I’d still like an answer: absent gold backing, how much more work does it take to make a $100 bill than a $1 bill? It’s magic, and these central bank magicians have been responsible for every boom/bust cycle since their existence. People seem to think they have the “money” stashed some where and they use when needed. No! They make it up out of thin air. They’re making $250 billion every day, right now, to fund this repo crisis. There’s absolutely no accountability or oversight. Fractional reserve banking, using pure fiat, is the biggest scam in the history of mankind, bar none!
    Thanks F. William Engdahl! Good to see you gracing the pages of VT once again.

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