ENRON got into trouble and imploded from keeping two sets of books.

One set of books showed the good performing assets, which were then used to con investors and stockholders into buying more stock.

The other set of books were used to hide the poor and underperforming assets, which they kept moving around in a giant shell game.

But eventually, reality intruded and the whole damned mess came apart.

That is what's behind this coming financial collapse of the USA.

Banks and financial institutions have been keeping two sets of books, ala ENRON.

Now that it's time to pay the piper, there's not enough money in the good set of books to cover all the losses in the bad.

"Captain, there's a massive shit storm dead ahead!"

We knew the recession would start in January, and so it has...

• Yesterday the Chicago Board Options Exchange’s volatility index known as the VIX (and often referred to as the “fear index”) jumped nearly 17 percent.

• Yesterday the Dow Jones industrial average dropped more than 300 points to the lowest level since March 2007. This was worst three-day decline since October 2002.

• Yesterday the Standard & Poor’s 500 (an index closely watched by market professionals) fell nearly 3 percent.

• Last month the Philadelphia Federal Reserve said regional manufacturing activity registered a negative 1.6 -- but yesterday the Fed admitted it was twenty times worse: negative 20.9. Things have not been this bad since the 2001 to 2002 recession (caused by residual effects of the dot-com meltdown, and by the 9/11 false flag terror operation.)

• Moody’s Investors Service ( a rating agency) placed bond insurer Ambac Assurance Corp. on review for a possible downgrade. This will cause all bonds insured by Ambac to be downgraded. Bond insurers will not be able to absorb a spike in insurance claims.

• Everyone fears the economy is screeching to a halt, and that policymakers are helpless. More and more commentators can no longer pretend that the U.S. economy is not radically slowing (i.e., plunging into a recession).

• Broader market indicators also plummeted. The S&P 500 index lost 39.95. Nasdaq dropped 47.69.

• Thursday brought the lowest close for the S&P 500 since October 2006, and the worst for the Nasdaq since March 2007.

• The Commerce Department said housing starts plunged 14 percent in December 2007, and is now the weakest in more than 16 years.

• The Fed said it will probably have to cut interest rates for a fourth straight time (currently the funds target is 4.25%.) This will inject massive new debt into the system, which will buy it more time, but will make the coming crash even bigger. The Fed’s monetary policy committee will meet Jan. 29-30, but many people on Wall Street want the Fed to radically drop interest rates NOW.

• Merrill Lynch & Co. (the world’s largest brokerage) lost $9.91 billion in the fourth quarter, which underscores the depth of the economy’s credit problems.

Derivatives are very convoluted future projections of portfolio products bundled together that "Derive" their value not from the products, but from future projected scenarios. They set up a literal house of cards situation if a few of the future projection have to be adjusted. In this case, when ALL the projections are off, the entire derivative value of the bundle could be, literally, zero or an actual liability.

All this was the ultimate evolution of the reserve banking practice of minimizing the actual amount of cash held in reserve against the outstanding loans. In this instance, derivative products are actually used as reserve against derivative loan packages.

It's all gonna fall and will take lots of the biggest players. The ones it doesn't take will stand out as the ultimate insiders - think Rothschild at the London Stock exchange after Waterloo.

all this greed at the expense of hundreds of millions, if not billions of people throughout the centuries.

oh, if I had my hand at reforming corporate law - I would abolish the for profit corporation - for good.

(this is in addition to abolishing the fed and interest charged on money loaned)

people would have to "work" for extra money - but not for a living - a basic living (food, shelter, healthcare, and education) would be guaranteed BY COMMUNITIES, not some distant state or federal government.

call it socialism if you want - I call it humanity.

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"Money" has no value - people do.

At it's essence, this boils down to an argument over the value of money that literally has NO value. In he midst of this delusional argument, the merchants of death have decided to release their dog chaos on the planet because they, in their great pride and insatiable greed, think they have devised a better solution.

In spite of what they think of their power, they are not in control. This shell game had to come to an end because they ignored the basic law of jubilee in matters of debt. Collapse was inevitable.

THERE IS GOING TO BE A RATHER ROUGH TRANSITION PERIOD! How rough? That depends on us. Enough damage has already been done to the ecosystem of our Earth to ensure some degree of ecological collapse. That ecological collapse will cause an economic collapse and that economic collapse will lead to socio-political chaos and war. Even if profound ecological wisdom were implemented immediately on a worldwide scale, some degree of the above scenario would still occur -- enough damage has already been done to the ecosystem to ensure some degree of collapse and chaos.

But we -- the "we" who have "ears to hear" and "eyes to see", can work to make the degree of collapse and chaos less severe than it otherwise will be.

How can we help ease the storm that is about to rain down? First, let us look at the storm. What is the storm? It is merely the consequence of deviation from the physical and spiritual laws of the universe.

There is but one antidote for the painful consequences of deviation from the physical and spiritual laws: HARMONY WITH THEM.

Smell the desperation!
Helicopter Ben is literally going to mail worthless cash from the sky in order to buy precious seconds for the flat line U.S. economy.

The original tax "rebate" was to be $250.00.

If they're now thinking about giving away pieces of paper totaling $800, they're getting desperate.

Infusing that money into the US economy will only make inflation worse and slightly postpone the coming recession/depression, making it worse than it already is.

And that's where most of this "rebate" will wind up: In the pockets of the Walton family, after the money is first laundred thru their massive Wal Mart corporation.

Me, i plan on buying some groceries at the local market, then, spend the rest on gasoline.

The whole fed central bank is nothing but a giant ponzi scheme, a shell game, three card monte at interest. It's all based on the confidence that the debt slaves have in the "money".

In this case, the situation is so dire that they could literally lose all confidence in the scheme and stop playing.

Think of a casino that is trying to drum up business - they offer free chips to potential players to get them in the door. If the casino is as shitty as the fed, the best thing to do is cash in the chip for something of value.

The best thing that all Americans can do with their $800 in "house chips" is to buy firearms and ammo. That would send a powerful message.

Actually, the rebate looks like it will be $600.00.

But, they should just cut the crap and make it 666 dollars so we'll know who we're really dealing with.