SPECIAL NEWS ALERT
April 3, 2008
What Federal Reserve Chief Bernanke REALLY told Congress yesterday versus the Mass Media Distortion
"RECESSION" -- was in the headlines of most American newspapers late last night and this morning, as they reported the testimony of Federal Reserve Chairman Bernanke to Congress yesterday. Americans undoubtedly bought up all extra newspapers off the stands this morning to get their fill of economic worry. After all, the old adage is "bad news sells newspapers"!
Yet, Bernanke never predicted a recession and foreign markets were very encouraged by his remarks! Once again, we see a huge difference between what was actually said versus what the Mass Media wants you to believe was said. Let us go to Bloomberg News, one of the foremost financial news services in the country.
NEWS BRIEF: "Recession Is Still a Possibility, Not a Reality", Bloomberg News, by John M. Berry, April 3, 2008
"April 3 (Bloomberg) -- The resilience of the U.S. economy in the face of a devastated housing sector and a financial crisis is amazing. The severe recession some have predicted is still nowhere in sight. The odds are at least 50-50 that the current period of economic weakness won't be labeled as even a mild recession."
"Federal Reserve Chairman said as much yesterday in testimony before Congress's Joint Economic Committee."
Did you catch the pertinent pieces of information in this first paragraph?
* " resilience of the U.S. economy .. is amazing"
* "severe recession some have predicted is still nowhere in sight"
* "odds are at least 50-50 that the current period of economic weakness won't be labeled as even a mild recession."
These facts are the exact opposite of what most news organizations and even major ministries are reporting. But, they are in accord with what we have been saying all along. This economy is not in danger of anything close to economic collapse. The difficulties we are currently experiencing have been deliberately triggered so our economy can be merged into the North American Union with the AMERO as the stable, fixed currency the Illuminati has been planning for years.
High oil prices are meant to soften American's resistance to the establishment of this new currency. Can you imagine how relieved people are going to feel when they are told that prices of everything will fall about 50% if we can just move to the new AMERO?
Now, let us return quickly to this Bloomberg article. Federal Reserve Chairman is speaking.
" 'It now appears likely that real gross domestic product (GDP) will not grow much, if at all, over the first half of 2008 and could even contract slightly', Bernanke testified. Even if there was a slight contraction, Bernanke said in response to a question, 'That doesn't necessarily mean there's a recession, because it would depend on the circumstances'."
Let us stop right here, because something happened which prompted Bernanke's careful response. Some reporter asked Bernanke if it was "possible" that America could slip into a recession. Bernanke's response was to acknowledge that this was a "possibility", but he quickly clarified it. However, the Mass Media had the quote for which they were fishing and they could publish the most frightening headline possible. That is what news media moguls do and they scare people about something nearly every day. That sells magazines and newspapers!
Getting back to Bloomberg:
"His careful wording suggests he and other Fed officials think weak positive growth is a bit more likely than a slight contraction and clearly indicates they don't see a deep slump. 'We expect economic activity to strengthen in the second half of the year, in part as the result of stimulative monetary and fiscal policies', he said, adding that they think the economy will do still better in 2009."
Is this scenario realistic or is it merely painting a more rosy picture than is warranted? Returning to Bloomberg:
"That forecast is in line with those of a number of private economists. 'Somewhat surprisingly, outside the U.S. mortgage market and housing sector, we find relatively little indication of a significant negative financial shock to the real economy at this point in time', economists at Deutsche Bank AG told clients in a March 31 memo."
" 'The relatively good health of the real economy is likely to reflect to a significant degree the strong medicine dished out over the last months by central banks and governments,'' they said.
"Economist Mickey Levy of Banc America Securities has reached the same conclusion.
" 'Add up the data and GDP is about flat', Levy said in an April 1 interview. 'The reason we are not contracting hard is because outside of housing, businesses came into this situation with very lean inventories and employment and the capital stock are not significantly out of kilter with respect to output.''
Did you catch that pertinent statement? "The reason we are not contracting hard".
Yet, most people really believe the economy is contracting hard -- right now.
Even many ministries have jumped on the "Sky Is Falling" nonsense. When you hear a ministry saying this, look to see if they are teaching their people how to "survive" the coming economic crisis. With part of their income dependent upon selling economic fright, they are going to want to paint a gloomy picture.
The fact is, the vast majority of Americans will keep their jobs, will keep their retirements and will not lose anything. You have little to fear unless your job is in the sector being convulsed right now or if you are in an industry like the American car manufacturing which is losing the battle with the global makers, or if your job is in an industry being shipped to India.
Otherwise, you will see little to no effects from this economic trouble Remember what we learned, above. Once you get outside the financial industry which is so totally caught up in the mortgage crisis, the news really does look good. As we have stated in earlier newsletters and news alerts, the Bush Administration is using the deliberately created turmoil in the mortgage industry as an excuse to introduce vast new Federal Reserve regulatory powers. Literally, the Fed can become a true banking dictator if the Treasury recommendations are carried out. This is one of the key reasons this financial turmoil was created -- to deepen, widen, and dramatically strengthen the powers of the Federal Reserve. Typical Illuminati.
Some overseas markets were encouraged by what Bernanke had to say.
NEWS BRIEF: "Australian, N.Z. Dollars Rise as Bernanke Eases Growth Concerns", By Ron Harui and Tracy Withers, Bloomberg News, April 3, 2008
"April 3 (Bloomberg) -- The Australian and New Zealand dollars rose against the yen after Federal Reserve Chairman Ben S. Bernanke eased concern that the U.S. economic slowdown will deepen, bolstering demand for higher-yielding assets. The currencies climbed to the highest levels in at least two weeks as Bernanke said U.S. monetary and fiscal policies should 'support a return to growth in the second half of this year and next year'.''
" 'He appears to be rather upbeat about the prospects in the second half', said Tony Morriss, a currency strategist at Australia & New Zealand Banking Group Ltd. in Sydney. 'He's sending a message that the Fed views this as a shallow downturn'."
NEWS BRIEF: "Company Bond Risk Falls as Bernanke Eases Bank Failure Concern", Bloomberg News, April 3, 3008
"April 3 (Bloomberg) -- The cost of protecting European corporate bonds from default declined to the lowest in almost two months after Federal Reserve Chairman Ben S. Bernanke eased investor concern of possible bank failures ...Bernanke told the Joint Economic Committee of Congress in Washington yesterday that the Fed supported the rescue of Bear Stearns Cos. last month because its failure could have led to a 'chaotic unwinding'' of investments throughout the U.S. economy. The Fed backed JPMorgan's takeover of the New York- based broker with $29 billion of financing."
" 'The market now believes that no regulator in any of the major markets would allow their big financial institutions to fail', said Anita Yadav, the Sydney-based head of credit research at UBS AG, Europe's biggest bank by assets. 'Bernanke's speech was taken positively by the market'.''
Please note the most important portions of this statement:
* "Bernanke eased investor concern of possible bank failures"
* "The market now believes that no regulator in any of the major markets would allow their big financial institutions to fail' "
Therefore, we encourage you the way we have been encouraging our readers every single year since 1998! Since 1998, Mass Media has whipped up the furor over imminent economic collapse. Cutting Edge has believed consistently for the past 10 years that the Illuminati wants to keep Americans feeling prosperous right up until the beginning of the Third World War. They believe Americans will not allow themselves to be pushed into a global government and economy if they are impoverished; therefore, they will keep Americans feeling prosperous until the very end.
However, there is also a spiritual reason to keep Americans feeling prosperous. During the Depression, tens of millions of Americans went back to their spiritual roots; many recommitted their lives to Jesus Christ and filled the pews of countless churches across this fruited plain.
The Illuminati does not want this to happen! They want Americans to keep pursuing the false gods of Materialism and not even think about spiritual matters.
Do not let yourself be discouraged! The reality is far, far different. We know this to be fact because we pay close attention to the news behind the news, we know the Illuminati Plan and we know Bible prophecy. Before we reach a conclusion on any matter, we examine all information from a broad base. Every year, we have fought the economic doomsayers and every year, we have been right.
We are right in 2008.
May Jesus Richly Bless You,
David Bay, Director
Cutting Edge Ministries