FORT LEE, N.J., Dec. 9, 2010 /PRNewswire/ -- The National Inflation Association (NIA) - http://inflation.us - is deeply disturbed by how U.S. politicians and the mainstream media have been calling for WikiLeaks founder Julian Assange to be charged with treason. Some people in Washington are even calling for the assassination of Assange like he is some kind of a terrorist, all because he helped spread the truth about our country's foreign policy and other sensitive topics. The U.S. is in very serious trouble if it has now become a crime to speak the truth.
In recent years with the help of the Internet, there has been a rise in alternative media sites that speak the truth, while the mainstream media has simultaneously experienced collapsing television ratings and newspaper circulation levels. CNBC's average television show now only has 47,000 U.S. viewers in the 25-54 demographic, down 36% from one year ago. NIA's latest inflationary depression update video has already surpassed 47,000 views, and we don't have the advantage of being on cable television in 95 million American homes.
Americans today have an appetite for the truth. For decades, Americans were brainwashed into believing anything the mainstream media said as the truth. Now that America is waking up and realizing that they have been deceived and lied to their whole lives by the mainstream media, the media is losing its stranglehold over the public. The politicians and corporate elites who control the media are becoming very scared.
Although NIA is not a supporter of Assange, we are a supporter of constitutional rights and there is no more important constitutional right than our freedom of speech. If Americans don't take a stand now to protect their freedom of speech, the U.S. government soon might make it a crime to warn Americans about the hyperinflation that is ahead. With the current path our country is on, there is a chance that as the U.S. approaches the point of hyperinflation, organizations like NIA will be made illegal to exist in the U.S. Those associated with NIA and organizations like us may one day be charged with treason or targeted for assassination, just for warning Americans to get out of fiat paper money (U.S. dollars) and into real money (gold and silver).
If there is one American who deserves to be charged with treason, it is Federal Reserve Chairman Ben Bernanke. Bernanke, this past Sunday on '60 Minutes,' outright lied to the American public when he said that the Federal Reserve isn't printing money. Less than two years earlier on the same television program, Bernanke admitted that the Federal Reserve is printing money. However, back then, nobody was questioning the Federal Reserve's actions. Thanks to alternative media organizations that have worked tirelessly to help expose the Federal Reserve's dangerous and destructive actions, Americans are starting to finally question the Federal Reserve and Bernanke is now clearly on the defensive.
Bernanke's lie on '60 Minutes' that the Federal Reserve isn't printing money is similar to the lie he made under oath on June 3rd, 2009, when he testified in front of Congress saying, "The Federal Reserve will not monetize the debt." Today, the Federal Reserve is monetizing the debt (as admitted by both the Kansas City and Dallas Fed Presidents). When Bernanke uses the term "quantitative easing," he is insulting the intelligence of Americans. "Quantitative easing" is nothing more than printing money.
Bernanke said in his interview that the purpose of the Federal Reserve's "quantitative easing" is to keep interest rates low, but the yield on 10-year U.S. treasuries rose to a new six month high today. The truth is, "quantitative easing" is causing interest rates to rise because all of the money being printed is about to cause an outbreak of massive price inflation. The yield on the 10-year bond has risen by 38 basis points during the past three days alone and is now up to 3.26%. NIA continues to believe that interest rates have seen their lows and yields on the 10-year bond will likely rise above 4% in the first half of 2011.
When the 10-year bond yield rises to above 4%, instead of Bernanke admitting that he lied to the American public and his money printing actually caused interest rates to rise, Bernanke will likely claim that his "quantitative easing" just wasn't large enough. Bernanke will use rising interest rates as an excuse to expand the size of QE2 and/or possibly launch QE3. Remember, every 1% rise in interest rates means an extra $100 billion that will need to be spent each year on interest payments on our national debt. Rising interest payments on our national debt can only be paid by Bernanke printing even more money.
Bernanke promises that he won't let price inflation in the U.S. rise above 2%, but all Americans who live in the real world realize that price inflation is already well above 2%. Whether it be food, gas, heat, clothes, healthcare, college tuition, entertainment, or just about anything else, prices have risen over the past twelve months for just about all goods and services in America by a lot more than 2%. It is a real shame that absolutely nobody in the mainstream media has acknowledged this fact and called Bernanke out on it. Bernanke deserves to be impeached for his previous acts of perjury and for blatantly ignoring the price inflation that exists all around us.
Bernanke is currently leading a misinformation campaign that will prevent the majority of Americans from preparing for and surviving U.S. hyperinflation. Bernanke's misinformation campaign is similar to what took place in Weimar Germany in the 1920s when they experienced hyperinflation. In Weimar Germany, the misinformed public always focused on rising prices, but never understood that prices were rising because the German mark was losing its purchasing power.
The Germans believed that there was a shortage of marks and it was therefore necessary to print as many marks as possible. Germans placed all of the blame for their crisis on the symptoms of inflation. They blamed greedy tourists, selfish industrialists and profiteers, the wage demands of labourers, speculators in Germany who were buying foreign currencies and sending their wealth out of the country, and other nations that were buying up German assets with foreign currencies. They failed to grasp that it was their government's own printing of marks and increasing the money supply that caused the inflationary disease.
Bernanke is trying to convince the world that he can create an economic recovery through "quantitative easing" (printing money), without creating price inflation, because he claims to have the tools to unwind the Federal Reserve's massive asset purchases. He is trying to trick the world into believing that he has the ability to pinpoint an exact time in which the U.S. economy is recovering without massive price inflation, where he can exit his inflationary strategy before prices start to dramatically rise. Bernanke has no exit strategy that he can implement without sending the U.S. economy into the next Great Depression.
Bernanke, being a self-proclaimed scholar of the Great Depression, is not going to allow another one to occur. Bernanke didn't like the market's reaction when he allowed Lehman Brothers to fail (the only right decision he made during the whole panic of 2008). After the failure of Lehman Brothers caused the stock market to crash, Bernanke didn't allow another major U.S. bank to fail. NIA predicts that we will one day see Bernanke attempt to launch his exit strategy by raising the Federal Funds Rate, but as soon as the stock market begins to go south like in late-2008, Bernanke will reverse his decision and either lower the Federal Funds Rate again or leave it at artificially low levels until the U.S. dollar loses all of its purchasing power.
One organization out there that has perhaps played the largest role in helping expose the Federal Reserve's manipulation of gold and silver prices is the Gold Anti-Trust Action Committee (GATA). NIA considers GATA's President Bill Murphy to be a hero for having the courage to expose evidence of gold and silver price manipulation at the CFTC hearing on position limits that was held on March 25th of this year. A short time after the hearing took place, Murphy was leaving a restaurant less than two blocks from where he lives when somebody jumped out from behind a wall and sucker-punched him with brass knuckles. He was knocked out cold and thought his jaw was broken. NIA just conducted a shocking interview with Bill Murphy that we will be releasing Friday evening. You will definitely want to listen to this interview.
It is important to spread the word about NIA to as many people as possible, as quickly as possible, if you want America to survive hyperinflation. Please tell everybody you know to become members of NIA for free immediately at: http://inflation.us
The National Inflation Association is an organization that is dedicated to preparing Americans for hyperinflation. The NIA offers free membership at http://www.inflation.us and provides its members with articles about the economy and inflation, news stories, important charts not shown by the mainstream media; YouTube videos featuring Jim Rogers, Marc Faber, Ron Paul, Peter Schiff, and others; and profiles of gold, silver, and agriculture companies that we believe could prosper in an inflationary environment.
Contact: Gerard Adams, 1-888-99-NIA US (1888-996-4287), firstname.lastname@example.org
SOURCE National Inflation Association