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<\/td>\n<\/tr>\nThe bankster operative who helped destroy Glass-Steagall<\/a> is back.<\/p>\n Larry Summers, Obama\u2019s top economic adviser, has told Congress to \u201cgrit its teeth\u201d and approve a fresh fiscal boost of $200 billion to keep growth on track, reports the Daily Telegraph<\/a>. \u201cWe are nearly 8m jobs short of normal employment. For millions of Americans the economic emergency grinds on,\u201d he said.<\/p>\n The M3 money supply in the United States is contracting at an accelerating rate that now matches the average decline seen from 1929 to 1933, despite near zero interest rates and the stimulus boondoggle.<\/p>\n \u201cIt\u2019s frightening,\u201d professor Tim Congdon from International Monetary Research told the Daily Telegraph. \u201cThe plunge in M3 has no precedent since the Great Depression. The dominant reason for this is that regulators across the world are pressing banks to raise capital asset ratios and to shrink their risk assets. This is why the US is not recovering properly,\u201d he said.<\/p>\n No precedent since the Great Depression. Meanwhile, the corporate media has the public obsessing over Lindsay Lohan\u2019s court-ordered ankle bracelet.<\/p>\n The M3 is a measure of the money supply. It began tumbling last summer. The stock of fiat money fell from $14.2 trillion to $13.9 trillion in the three months to April, amounting to an annual rate of contraction of 9.6 percent. The assets of institutional money market funds fell at a 37 percent rate, the sharpest drop ever.<\/p>\n In 2006, the Federal Reserve stopped publishing M3 figures<\/a>. The Fed said it did this to save money. Nonsense. It did this to stop you from understanding what the big boys are doing with the money supply. It allows them to more effectively cook the books and keep you in the dark. It allows them to portray the largest economic crisis in history as a recovery.<\/p>\n Economists and others use ancillary data provided by the Fed to get an idea of what is going on with the money supply.<\/p>\n<\/p>\n In 2008, the funny money supply experienced the sharpest contraction in modern history. The current \u201ceconomic crisis\u201d followed in short order. \u201cThe US economy is without doubt facing severe headwinds going into the autumn,\u201d reported Ambrose Evans-Pritchard<\/a> in August of that year. He wasn\u2019t whistling Dixie.<\/p>\n Manipulating the money supply is how the banksters control economies and force nations to do their bidding. \u201cThe system is not being fixed and deliberately so. The elitists do not want it fixed. They want a collapse. This is the only way they can force people to accept world government,\u201d writes Bob Chapman<\/a>. \u201cMany say they do know where it will end, but if they studied history they\u2019d know exactly where it would end. It will end with the deliberate collapse of the financial and economic system and war, the way it always has.\u201d<\/p>\n International bankers have choices. Either Iran or North Korea. Only time will tell if they will exploit these emerging crises and go for it as history and Chapman warn they invariably do.<\/p>\n![\"Fiat](\"http:\/\/www.prisonplanet.com\/images\/march2010\/260310banner2.gif\" "\\"Fiat")
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