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Under a gold standard, the amount of credit that an economy can support is determined by the economy’s tangible assets, since every credit instrument is ultimately a claim on some tangible asset. But government bonds are not backed by tangible wealth, only by the government’s promise to pay out of future tax revenues, and cannot easily be absorbed by the financial markets. A large volume of new government bonds can be sold to the public only at progressively higher interest rates. Thus, government deficit spending under a gold standard is severely limited. The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit. - Allen Greenspan

America is on a war footing.  While, a World War Three Scenario has been on the drawing board of the Pentagon for more than ten years, military action against Russia is now contemplated at an “operational level”. Similarly, both the Senate and the House have introduced enabling legislation which provides legitimacy to the conduct of a war against Russia.

We are not dealing with a “Cold War”. None of the safeguards of the Cold War era prevail.

There has been a breakdown in East-West diplomacy coupled with extensive war propaganda. In turn the United Nations has turned a blind eye to extensive war crimes committed by the Western military alliance.  

The adoption of a major piece of legislation by the US House of Representatives on December 4th (H. Res. 758)  would provide (pending a vote in the Senate) a de facto green light to the US president and commander in chief to initiate –without congressional approval– a process of military confrontation with Russia.  

Global security is at stake. This historic vote –which potentially could affect the lives of hundreds of millions of people Worldwide– has received virtually no media coverage. A total media blackout prevails.   

The World is at a dangerous crossroads. Moscow has responded to US-NATO threats. Its borders are threatened.

On December 3, the Ministry of Defence of the Russian Federation announced the inauguration of a new military-political entity which would take over in the case of war.

Source www.globalresearch.ca

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