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Countdown to Financial Armageddon
Tracking the final days of the debt bubble
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Those pesky kids! 'Occupy George' protesters deface dollar notes ... but then the Fed has been doing that for decades!

Those pesky kids! 'Occupy George' protesters deface dollar notes ... but then the Fed has been doing that for decades! | Countdown to Financial Armageddon | Scoop.it

Occupy’ protesters have come up with a novel approach to demonstrate against corporate greed by adding figure infographics to dollar bills - legally!

 

“Defacement of currency is a violation of Title 18, Section 333 of the United States Code. Under this provision, currency defacement is generally defined as follows:

 

Whoever mutilates, cuts, disfigures, perforates, unites or cements together, or does any other thing to any bank bill, draft, note, or other evidence of debt issued by any national banking association, Federal Reserve Bank, or Federal Reserve System, with intent to render such item(s) unfit to be reissued, shall be fined not more than $100 or imprisoned not more than six months, or both.”

 

So looks like the protestors are ok as the relevant serial numbers are left intact and the bills are still legal tender ... but what about the Federal Reserve itself? Surely Bernanke and his predecessors going back to 1971's Nixon Shock have a case to answer for. If fiat currency isn't the ultimate debasement of money, what is?

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Bernanke Says US Economy 'Faltering'

Bernanke Says US Economy 'Faltering' | Countdown to Financial Armageddon | Scoop.it

Here comes QE3! US Federal Reserve Chairman Ben Bernanke tells Congress that the US economy is "close to faltering" and more action may be needed. 

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'There's something happenin' here, what it is ain't exactly clear' Occupy San Diego, Day 1

'There's something happenin' here, what it is ain't exactly clear' Occupy San Diego, Day 1 | Countdown to Financial Armageddon | Scoop.it

From East Coast to West ... yes, it's where all the liberals live (allegedly), but will this nonviolent protest spread to the rump of the US?

 

It’s been a long, short week, if that makes any sense at all… I haven’t slept much in the last few days, the wheels in my head have been spinning constantly, a mantra in the near reaches of my conscious...

Via Nate Anton
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Better Get Used To It! Bernanke Says: Long-Term Unemployment a 'National Crisis'

Better Get Used To It! Bernanke Says: Long-Term Unemployment a 'National Crisis' | Countdown to Financial Armageddon | Scoop.it

Federal Reserve Chairman Ben Bernanke said Wednesday that long-term unemployment is an American "national crisis" and suggested that Congress should take further action to combat it.

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