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    SEPTEMBER 22, 20121

    THE TRUMPET WEEKLYS E P T E M B E R 2 2 , 2 0 1 2

    Americas bungled response to Muslim rage 2

    One consulate attacker: ex-Gitmo inmate 4

    Europes historic new reality 7

    German army reaching out to teens 9

    The alternate universe of Americas leaders 10

    QE3: Dollar KillerBY ROBERT MORLEY

    see DOLLAR page 12

    L , Federal Reserve Chairman Ben Ber-nanke confirmed the worst: Te economy is heading intothe toilet. Americas job engine is stalled. Debt loads areunsustainable. Consumers are tapped out. Te big banksare insolvent. Te private sector can no longer support thepublic sector. And oh, the government is broke.

    Okay, he didnt say those exact wordsmarkets wouldhave collapsed i he told the truthbut his actions indi-cated how he really felt.

    His official announcement said the economy is on themend, it is just experiencing a ew headwinds rom Europe,and the Fed just wants to help create jobs a little quicker.He then went on to unleash a quantitative easing program() so potentially massive in scope that it could dwar

    , , Operation wist, and all the money-printingschemes the Fed has carried out so ar combined!

    I you really want to know what is going on in theeconomy, ignore what the Fed says and watch what it does.

    So what is the Fed doing? Bernankes announcementsays the Fed will now spend a whopping billionpermonth billion per yearpurchasing mortgage-

    backed securities rom the big Wall Street banks.He says this is an effort to push down mortgage rates

    and get more people buying and building houses, and thuscreate jobs. I this is the best the Fed has to offer, Americais in big trouble. Mortgage rates are already at historic lows,and people are not buying houses. Pushing record low ratesa ew ractions o a percent lower wont do much. What ismore likely to happen is that the big banks will finally havean opportunity to unload all their garbage subprime-mort-gage-backed securities at the expense o taxpayers. Tis isprobably the real unspoken motive.

    But i that part o the Federal

    Fed Chairman Ben

    Bernanke announcesmore money printing.

    ALEX WO NG/G ETTY IMAG ES

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    SEPTEMBER 22, 20122THE TRUMPET WEEKLYRIZWAN TABASSUM/AFP/GETTYIMAGES

    MIDDLE EAST

    Making Sense ofAmericas Bungled

    Response toMuslim RageSeptember 21

    I Americas bungling response to Muslim rageover the past two weeks, another prophecy keeps comingto mind. In Isaiah :, the prophet says babes will ruleover our peoples in these latter days. God says the adultsruling our peoples today will lead like children.

    Te day beore Islamic radicals attacked the U.S. Em-bassy in Egypt and murdered the American ambassador inLibya, the Washington Postrevealed that during the course

    o his presidency, Barack Obama had skipped out on per-cent o his daily intelligence briefings.

    Te day afer that, we have sincelearned, Ambassador Chris Stevenswas visiting the terror-inested cityo Benghazi, on the th anniversaryo /, with practically detail to protect him.

    Shortly thereafer, in unisia,Islamist protesters scaled the wall othe U.S. Embassy compound, brokewindows, started fires and raised the

    black flag o Al Qaeda over the embas-sy. In Yemen, the United States dis-patched Marine reinorcements to endoff attacks. In London, protestersburned American and Israeli flags outside the U.S. Embassy.And in Sydney, Muslim protesters were waving signs thatread, Behead all those who insult the prophet.

    Te United States was under attack. And many newsoutlets even predicted the violent escalation ahead o timebecause when tensions are riding high in the world oIslam, the jihadists among them tend to riot afer they leavetheir Friday worship services.

    Yet, despite the prospect o widespread protests last

    Friday, it was business as usual in the Oval Office. PresidentObama met with the U.S. Olympic and Paralympic teamson the South Lawn, was interviewed by an entertainmentmagazine, participated in a photo shoot with a Spanishphotographer and attended a campaign undraising dinnerthat night. Meanwhile, his spokesman was desperately try-ing to convince Americans that these attacks were merelyspontaneous demonstrations that had nothing at all to dowith anti-Americanism.

    On uesday, President Obama flew to New York or aninterview with comedian David Letterman and to attend a

    ritzy undraising event with hip-hop artists Beyonce and Jay-Z. In Washington, Jay Carney attempted to clariy the ad-ministrations evolving position about the Benghazi attack.

    I am not going to prejudge the outcome o an inves-

    tigation and categorically assert one way or the other whatthe motivations are or what happened exactly until that in-

    vestigation is complete, Carney said our days afer he hadcategorically asserted that the video was solely to blame.

    Yesterday, days afer Ambassador Stevens and threeother Americans were murdered, the Obama administra-tion finally admitted it was a terrorist attack. Ten lastnight, President Obama dialed that back several notches,saying the video was definitely used as an excuse or vio-lence and that the investigation was still ongoing.

    Meanwhile, evidence confirming what should havebeen sel-evident days ago is piling high. Te attack inBenghazi was a premeditated strike on an ambassador who

    had been specifically targeted by Al Qaeda, cnn confirms.

    In act, News is now reporting that there wasnt evenan anti-American protest outside the Benghazi consulateon September . No hijacking. Just a -man army thatattacked the U.S. consulate with high-grade weaponry.

    In the meantime, the pace o prophetic events will con-tinue to accelerate. All across the Middle East, you see neonsigns o Americas ull-scale retreat. We took out Saddam andhanded Iraq to Iran. Aghanistan will be served up next. Welef Iranian protestors high and dry during the Green Revo-

    lution and then made the tragic mistake o enabling Islamicuprisings in Egypt and Libya. And weve totally abandonedIsraelthe only Mideast nation, by the way, where therenever seems to be any protests outside the U.S. Embassy.

    As Charles Krauthammer recently said, the jihadists inthe region are saying, Tis is our time.

    And it is their time. Daniel :- confirms it. But itsall happening so incredibly ast because o another proph-ecy that highlights how nave and childish Americas leader-ship would be in these latter days.

    Follow Stephen Flurry: Twitter

    STEPHEN FLURRY

    Pakistani Muslims torch aU.S. flag and an effigy ofPresident Barack Obama.

    https://twitter.com/StephenFlurryhttps://twitter.com/StephenFlurry
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    SEPTEMBER 22, 20123THE TRUMPET WEEKLY

    I week ollowing // something big happened:the collapse o the Cairo Doctrine, the centerpiece oPresident Obamas oreign policy. It was to reset the verycourse o post-/ America, creating, afer the (allegedly)

    brutal depredations o the Bush years, a proound rap-prochement with the Islamic world.

    On June , , in Cairo, Obama promised a new be-ginning offering Muslims mutual respect, unsubtly im-plying previous disrespect. Curious, as over the previous years, America had six times committed its military orceson behal o oppressed Muslims, three times or reasons opure humanitarianism (Somalia, Bosnia, Kosovo), whereno U.S. interests were at stake.

    But no matter. Obama had come to remonstrate andrestrain the hyperpower that, by his telling, had lost its wayafer /, creating Guantnamo, practicing torture, impos-ing its will with arrogance and presumption.

    First, he would cleanse by conession. Ten he wouldheal. Why, given the unique sensitivities o his background

    my sister is hal-Indonesian, he proudly told an inter-viewer in , ampliying on his exquisite appreciation oIslam his very election would revolutionize relations.

    And his policies o accommodation and concession

    would consolidate the gains: an outstretched hand to Iransmullahs, a first-time presidential admission o the U.S.role in a coup, a studied and stunning turning awayrom the Green Revolution; withdrawal rom Iraq with noresidual presence or influence; a fixed timetable or leavingAghanistan; returning our ambassador to Damascus (withkind words or Bashar al-Assad a reormer ); delib-

    erately creating distance between the U.S. and Israel.Tese measures would raise our standing in the region,

    restore affection and respect or the United States and elicitnew cooperation rom Muslim lands.

    Its now three years since the Cairo speech. Look around.Te Islamic world is convulsed with an explosion o anti-Americanism. From unisia to Lebanon, American schools,businesses and diplomatic acilities set ablaze. .

    Te administration, staggered and conused, blames itall on a -minute trailer or a film no one has seen andmay not even exist. What else can it say? Admit that itsdoctrinal premises were supremely naive and its policiesdeeply corrosive to American influence?

    What else can Obama do? At their convention, Demo-crats endlessly congratulated themselves on their oneoreign policy success: killing Osama bin Laden. A weeklater, the Salafist flag flies over our American embassies,even as the mob chants, Obama, Obama, there are still abillion Osamas.

    Collapse of the Cairo DoctrineWASHINGTON POST, CHARLES KRAUTHAMMER | September 21

    Three Dead asProtesters Attack U.S.Embassy in TunisiaREUTERS | September 15

    A three people died and others were wounded on Friday aferpolice ought hundreds o protesterswho ransacked the U.S. Embassy in u-nisia in their ury state television said.

    A Reuters reporter saw police openfire to try to quell the assault, in whichprotesters orced their way past riotpolice into the embassy.

    Te protesters smashed windows,hurled petrol bombs and stones at

    police rom inside the embassy, orstarted fires in the embassy and thecompound. A black plume o smokerose rom the acility. One protesterwas seen throwing a computer out oa window, while others walked awaywith telephones and computers.

    Te protesters also set fire tothe nearby American School, whichwas closed at the time, and took awaylaptops and tablet computers.

    Hundreds o protesters wielding

    petrol bombs, stones and sticks hadcharged at the security orces protect-ing the embassy beore jumping a wallto invade the compound.

    Obama, Obama, we are all Osamas,they chanted, in reerence to the slainal Qaeda leader, Osama bin Laden.

    Te protesters pulled down the U.S.flag flying over the embassy, burnedit, and replaced it with a black flagemblazoned with the Shahada, theIslamic declaration o aith.

    Protests in PakistanBBC | September 20

    D gathered out-side the U.S. Embassy in Islamabad

    to protest against an amateur videomocking Islam have begun to disperse

    . Te Pakistani authorities had earliercalled on the army as police struggledto contain the crowd o thousandswith tear gas and live rounds.

    Protests have claimed severallives. Streets leading to the enclave,where most o the embassies are housed,were earlier blocked off by shipping

    containers in an effort to increase secu-rity. elevision pictures showed chaoticscenes as police tried to gain controlo the situation. Protesters burned an

    effigy o U.S. President Barack Obamaand threw missiles at the police.One demonstrator told reporters:

    Te infidel who produced the movieshould be hanged, or hand over him tothe Muslims. And we dont want any(U.S.) diplomat or embassy in Paki-stan: All relations should be cut off.

    A demonstration in the same area onWednesday saw around protestersgather outside the gates o the enclave.

    Te Pakistani government has calleda national holiday on Friday to enable

    people to demonstrate peaceully.

    Germany ClosesEmbassies inMuslim CountriesDER SPIEGEL | September 20

    T G government expectsurther violence in the Muslim worldollowing Friday prayers and will close

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    SEPTEMBER 22, 20124THE TRUMPET WEEKLYGETTY IMAGES

    its embassies in the region as a precau-tion. Personnel have been instructedto stay home and security may beincreased in some places, the ForeignMinistry in Berlin said on Tursday.

    Amid ears o more violent protestsin the Muslim world, the German gov-ernment has announced it will close

    its diplomatic missions in the regionon Friday, the Islamic holy day.

    With urther escalation o protestsexpected afer Friday prayers, Berlinis also considering whether to pro-

    vide additional security or Germandiplomatic acilities, Foreign MinisterGuido Westerwelle said.

    Many embassies are closed on Fri-days in the Islamic world in honor othe holy day to begin with, but a num-ber o German diplomats have receivedspecific instructions to avoid embassies

    that day. We have intensified securityprecautions everywhere in the region,and in some cases increased securitypersonnel too, Westerwelle said.

    On Tursday, German satire maga-zine itanicannounced that it would

    publish its own Muhammad issuelater this month, which could provokeurther unrest.

    Last Friday the German Embassy inthe Sudanese capital o Khartoum wasattacked and set on fire by an angry

    mob. It has been closed since, operatingon an emergency contingency plan.

    France to ShutterEmbassiesNBC NEWS | September 19

    F it would temporarilyclose its embassies and schools in countries Friday afer a satiricalmagazine in Paris published insult-

    ing cartoons o the Muslim prophetMuhammad, a move it ears will adduel to the fire o global tensions overan anti-Islam film.

    Te French government, which hadurged the weekly not to print the car-toons, said it was shutting embassiesand schools as a precaution on Friday,when protests sometimes break outafer Muslim prayers.

    In the northern Paris suburb oSarcelles, one person was slightly hurt

    UNITED KINGDOMGERMANYBELGIUMFRANCE

    CHINAIRANAFGHANISTANPAKISTANBANGLADESHINDIA

    MALAYSIAINDONESIA

    AUSTRALIA

    TURKEYTUNISIA

    MOROCCOLIBYA

    EGYPT

    LEBANON SYRIA IRAQ

    KUWAITWEST BANK

    QATARBAHRAIN

    YEMENSUDAN

    NIGERIA

    SEPTEMBER 2012ATTACKS ANDPROTESTS ATU.S. EMBASSIES

    when two masked men threw a smallexplosive device through the windowo a kosher supermarket. Police saidit was too early to link the incident tothe cartoons.

    Charlie Hebdos Paris offices werefire bombed last November afer itpublished a mocking caricature o

    Muhammad.

    Ex-Gitmo DetaineeInvolved in ConsulateAttackFOX NEWS | September 20

    I tell Fox Newsthey are convinced the deadly attackon the U.S. Consulate in Benghazi,Libya, was directly tied to al Qaeda

    with a ormer Guantanamo detaineeinvolved.

    Tat revelation comes on the sameday a top Obama administration o-ficial called last weeks deadly assaulta terrorist attackthe first time theattack has been described that way bythe administration afer claims it hadbeen a spontaneous act.

    Yes, they were killed in the course o

    a terrorist attack on our embassy, MattOlsen, director o the National Coun-terterrorism Center, said during a Sen-ate hearing Wednesday. Olsen echoedadministration colleagues in saying U.S.officials have no specific intelligenceabout significant advanced planningor coordination or the attack.

    However, his statement goesbeyond White House Press SecretaryJay Carney and Susan Rice, the U.S.ambassador to the United Nations,saying the September attack on theconsulate was spontaneous. He is thefirst top administration official to callthe strike an act o terrorism.

    Suyan Ben Qumu is thought to havebeen involved and even may have ledthe attack, Fox News intelligence sourc-es said. Qumu, a Libyan, was releasedrom the U.S. prison at Guantanamo

    Bay, Cuba, in and transerred intoLibyan custody on the condition he bekept in jail. He was released by the Qa-dhafi regime as part o its reconciliationeffort with Islamists in .

    Carney said hours earlier that therestill is no evidence o a preplannedor pre-meditated attack, which oc-curred on the th anniversary o the/ terror attacks. I made that clear

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    SEPTEMBER 22, 20125THE TRUMPET WEEKLY

    last week, Ambassador Rice made thatclear Sunday, Carney said at the dailyWhite House press briefing.

    The Blind SheikControversyHUMAN EVENTS | September 20

    A building inWashington about the possibilityo releasing Omar Abdel Rahman, the

    blind sheik who masterminded the World rade Center bombing,into Egyptian custody. Te Obamaadministration keeps insisting nosuch plan is in the works, while othersources say Rahmans extradition isactively under consideration.

    Officials have been insisting

    nobody in the Egyptian governmenthas asked them about extraditingRahman, but the New York Post saysan administration source told themsuch a request has been made, andRep. Peter King (R-LI) confirmed therequest is being considered.

    Te Blaze has also been reportingthat an anonymous official rom withinthe administration told them thetranser o the Blind Sheikh to Egypt issomething that is being actively con-

    sidered by the administration as a solu-tion to the ongoing crisis in the MiddleEast. Tis source said the transer oRahman would be timed to occur aferthe American presidential election.

    Former ederal prosecutor AndrewMcCarthy, who headed up the pros-ecution against Rahman, has also saidhe doesnt doubt the accuracy o thereport, noting the significance o Rah-mans release as a celebrity cause orradical Islamists. McCarthy noted thatthe State Department has been deny-

    ing that its considering the release oRahman, but theyre not denying that atransfer o custody might be negotiatedwith the Egyptian government. Such atranser would probably work out theway Lockerbie bomber Abdelbaset al-Megrahis extradition to Libya, suppos-edly or health reasons because he wasdying, turned into a heros welcome.

    Representative King, who chairsthe House Department o HomelandSecurity Committee, has a history o

    opposing Rahmans release, just asEgypts Muslim Brotherhood president,Mohammed Morsi, has a history ocalling or it. I see signs or Omar Ab-del Rahman and detainees pictures,Morsi said, surveying the crowd pack-ing ahrir Square or his inaugurationin June. It is my duty and I will make

    all efforts to have them ree, includingOmar Abdel Rahman.

    Representative King said this verymuch confirms our worst ears aboutthe Muslim Brotherhood takeover oEgypt during a contemporaneous FoxNews interview. He described Morsiscall or the release o Rahman as a

    signal to the region, and a challengeto the United States.

    Iran Ships Armsto Syria Via IraqREUTERS | September 20

    I been using civilian aircrafto fly military personnel and largequantities o weapons across Iraqiairspace to Syria to aid PresidentBashar Assad in his attempt to crushan -month uprising against hisgovernment, according to a Westernintelligence report seen by Reuters.

    Earlier this month, U.S. officialssaid they were questioning Iraqabout Iranian flights in Iraqi airspacesuspected o errying arms to Assad, astaunch Iranian ally. On Wednesday,U.S. Sen. John Kerry threatened toreview U.S. aid to Baghdad i it doesnot halt such overflights.

    Iraq says it does not allow thepassage o any weapons through itsairspace. But the intelligence reportobtained by Reuters says Iranian weap-ons have been flowing into Syria via

    Iraq in large quantities. Such transers,the report says, are organized by theIslamic Revolutionary Guard Corps.

    Tis is part o a revised Iranianmodus operandi that U.S. officials haveonly recently addressed publicly, ollow-ing previous statements to the contrary,said the report, a copy o which wasprovided by a UN diplomatic source.

    It also flies in the ace o declara-tions by Iraqi officials, it said. Planesare flying rom Iran to Syria via Iraq

    on an almost daily basis, carrying (Iranian Revolutionary Guard Corps)personnel and tens o tons o weaponsto arm the Syrian security orces andmilitias fighting against the rebels.

    Although the specific charges aboutIraq allowing Iran to transer armsto Damascus are not new, the intel-

    ligence report alleges that the extento such shipments is ar greater thanhas been publicly acknowledged, andmuch more systematic, thanks to anagreement between senior Iraqi andIranian officials.

    TW I N B R I E F

    n Tensions mount inthe Strait of HormuzAmassive fleet o navy vessels romaround the world converged on the

    Strait o Hormuz last week or anannual -day naval exercise. Shipsrepresenting nations, includingthe United States, Britain, France,Saudi Arabia and the United ArabEmirates, began exercises Sunday inpreparation or potential retaliationrom Iran should Israel strike Iransnuclear sites. Fearing that Iran mightclose down the Strait o Hormuz,the fleet is conducting exercises on

    how to breach an Iranian blockade

    o the strait and counter-miningdrills, as well as destroying Iranianships, fighters and missile batteries inthe Persian Gul area, the elegraphreported. Tough these war games areconducted every year, never beore hassuch a large orce participated. Withtensions mounting between Israel andIran, Western powers are concernedIran will retaliate by closing the strait,which would prove costly to the U.S.,Britain, Europe and Asia. Eighteenmillion barrels o oil, roughly

    percent o the worlds traded oil, flowthrough the strait every day.

    n Flight cancelled: Tel Aviv to CairoFor the first time in years, Israelslargest airliner, El Al, is looking toindefinitely cancel al l flights rom elAviv to Cairo, Egypt. Under the peace treaty, Israel and Egypt hada mutual agreement to keep flightsoperational between the two nations.Tis unprecedented change is another

    http://www.telegraph.co.uk/news/worldnews/middleeast/iran/9545597/Armada-of-British-naval-power-massing-in-the-Gulf-as-Israel-prepares-an-Iran-strike.htmlhttp://www.telegraph.co.uk/news/worldnews/middleeast/iran/9545597/Armada-of-British-naval-power-massing-in-the-Gulf-as-Israel-prepares-an-Iran-strike.html
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    SEPTEMBER 22, 20126THE TRUMPET WEEKLY

    may run out o oil to export within yearsmuch sooner than previouslythought. Tis is a worrisome develop-ment, as Saudi Arabia is currently

    the worlds greatest net exporter ocrude oil. Making the situation worse,local consumption in Saudi Arabiaisrocketing, reports the elegraph. With

    less available oil to satiate its grow-ing national appetite, Saudi Arabiamay begin protecting its own energyinterests, giving other oil-producing

    nations like Iran and Iraq a chance todominate the market. Tat might bethe worst news oil-dependent Europewill ever hear.

    indication o deteriorating relationsbetween Egypt and Israel. In theabsence o a business justification, andin light o the financial resources in-

    volved in providing this service (high-security guidelines), El Al is unable tocontinue to bear the burden o theseheavy costs and thereore our inten-

    tion is to end the service to Cairo im-mediately, El Als Eliezer Shkediwrote to Israeli Foreign MinisterAvigdor Lieberman. Currently El Al isthe only airline carrier to offer a directflight between the cities o el Avivand Cairo. But as relations betweenthe two countries have deterioratedover the past year, flights have been

    virtually empty, creating a situationwhere the publicly owned El Al willonly continue to operate the leg i it issubsidized by the Israeli government.

    n The oil push is comingAccording to a report released byCitigroup this month, Saudi Arabia

    W M take to the streets in nearly countriesto engage in various degrees o anti-Western violence,something important is underway. Reflections on what this

    might mean:Te Rushdie Rules have gone viral:Ayatollah Khomeinis masterstroke o imposing a death edict on SalmanRushdie has now spread and become the hum-drum responseo Islamists to perceived insults. By telling the West what canand cannot be said about Islam, Khomeini sought to imposeIslamic law (the Sharia) on it. Te recent round o violence hasmostly taken the orm o demonstrations and violence againstWestern buildings (diplomatic, commercial, educational) .Te Iranian and Egyptian governments both want to get theirhands on the filmmakers o Innocence of Muslims,an anti-Muhammad film on Youube they blame or the violence.

    Anti-Islamic provocations have proliferated:Rushdie had

    no idea what he was walking into, as he explains in a bookpublished this week. Others, such as the American soldierswho burned Korans in Aghanistan in early , likewiseunwittingly set off Islamist disturbances. But Florida pastorerry Jones, the group behind Innocence of Muslims,andthe French weekly Charlie Hebdo,as well as anti-Islamicgroups in Canada and Spain, overtly want to rile Muslims.Tus have Islamists and anti-Islam activists developed asymbiotic relationship in which the one spurs the other.

    Individuals hold government hostage:When Jones spokeo burning copies o the Koran in , he received calls

    rom no less than the U.S. commander in Aghanistan, thesecretaries o deense and state, the attorney general, andthe president o the United States, all pleading with him todesist. Last week, the chairman o the joint chies o staffpicked up the phone to chat with him. Never beore couldrandom individuals drive policy like this.

    Governments want to clamp down on free speech: While arguments about the need to censor onesel so asnot to stir the Islamist beast and jeopardize American livesmay sound reasonable, such appeasement only invites morerage, intimidation, and violence.

    A growing separation of civilizations:Te amous clasho civilizations does not exist; in act, a separation o civi-lizations is underway. It takes many orms, rom Muslim-only enclaves in the West to matrimony, economics, educa-tion, culture, media, entertainment, travel, websites, andeven time-keeping.

    Minimal impact on U.S. presidential elections: Polls showthat voter attitudes toward Obama and Mitt Romney have

    hardly budged over the past six months, suggesting thatIslamists on the rampage will have little impact on the elec-tion results.

    Western civilization in the balance:Islamist aspira-tions grow with improved communications and weakenedMiddle Eastern governments, ultimately posing an existen-tial question or Westerners: Will we maintain our historiccivilization against their challenge, or will we accept Mus-lim dominion and a second-class dhimmistatus?

    In sum, Islamists want to impose sharia, Westerners aredivided, and the battle o wills is just getting started.

    Rampaging IslamistsWASHINGTON TIMES, DANIEL PIPES | September 19

    As tension rises between Israel

    and Egypt, Israel is looking to cut

    off the connection from Tel Aviv to

    Cairo through the airways.

    GETTY IMAGES

    http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100019812/saudi-oil-well-dries-up/http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100019812/saudi-oil-well-dries-up/
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    SEPTEMBER 22, 20127THE TRUMPET WEEKLY

    Croatia: Germany Isa Role Model for UsDER SPIEGEL | September 17

    D euro crisis, Croatian

    Prime Minister Zoran Milanovicis steering his country on a coursetoward European Union membershipwith great enthusiasm. In an inter-

    view, he discusses Zagrebs plannedEU accession in July .

    Spiegel: Te European Union iscurrently experiencing the worst crisissince its creation. Why do you stillwant to join it?

    Milanovic: You cant just view ourstep through the short-term lens o the

    present. Afer all, it is better to be apart o the club than to stand aloneeven i the club is perhaps havingproblems at the moment.

    Spiegel: London Mayor Boris John-son recently said he would love to see

    the beautiul nation o Croatia jointhe EU, but he also recommended thatyour country eschew the euro. Willyou ollow this advice?

    Milanovic: We will work our waytowards the euro. But will we then in-troduce it in years? I dont know.

    Spiegel: Whats your assessment othe management o the euro crisis?

    Milanovic: In the current situation,one also cannot orget the act thatduring the last five decades, the EU

    has enabled an area that runs romSpain to Finland to grow togetherwhen it had previously been worldsapart. Tat is clearly a success storyamaster stroke. I was born in Yugosla-

    via, a multiethnic entityand there

    we had structural aid or the poorerregions. Despite this, the economicdivide between Kosovo and Sloveniaalways remained deep. With the eurorescue und and the fiscal pact, Eu-rope has now added new tools it canuse to combat the crisis. I also thinkthe European Central Bank is doinggood work.

    Spiegel: You are meeting withChancellor Merkel on uesday. Par-ticularly in a ew Southern European

    EUROPE

    U last week, one power haddemonstrated its ability to trump

    all in EuropeGermanys Constitu-tional Court.

    Last week, all that changedpowerfully!One o Europes newest institutions, and certainly one

    o its newest technocrats, proved their power to trump theKarlsruhe-based German Constitutional Court. Te Euro-pean Central Bank (), under its president Mario Draghi,spiked the guns o that once proudinstitution.

    By publicizing his decision tobuy the government bonds o ailing

    eurozone countries in advance o theGerman courts ruling on the legalityo the European Security Mechanism,Draghi successully and most trium-phantly ensured the s assump-tion o the position o Europes mostpowerul institution.

    Ten, when challenged by Ger-manys gainsayers, he promptly acedthem down by offering to instruct theGerman Bundestag in the finer points o his plan: Te heado the European Central Bank (), Mario Draghi, threw

    down the gauntlet to German critics o his plan to buy thegovernment bonds o ailing eurozone countries yesterdayby suggesting they should invite him to justiy his decisionin person beore M.P.s in the Berlin parliament (Indepen-dent,September ).

    Tis is historic. Its a game changer. Its a sea change otremendous proportions when one ully grasps theprophet-icsignificanceand the timingo this action! In act, it isone o the clearest and earliest indicators o the imminence

    o the final consummation o that which we have come tocomortably call the European Union into its final state asthe seventh resurrection o the Holy Roman Empire.

    o understand what is at stake here, one must com-prehend that Mario Draghis political allegiance is not toBerlin; it is to Rome!

    Draghi is a true European imperialist, a Jesuit-educatedson o Rome. Tat ensures his prime allegiance is to thepope! As such, his decisions will bear in mind the continu-

    ing evolution o the European Union into its Holy Romanuture. Germany is important, vitally important to this

    cause. He knows that. But Draghi also knows that he hasthe backing o a quiet diplomatic process o , yearsstanding, based in Rome, that, though it looks like a lamb,when push comes to shove, speaks like a dragon to enorceits will. Follow Ron Fraser: Twitter

    Europes HistoricNew Reality!

    RON FRASER

    MATTHIAS HANGST/GETTY IMAGES

    Germanys Constitutional Court

    https://www.thetrumpet.com/article/9854.20794.0.0/europe/german-court-bows-to-draghihttps://www.thetrumpet.com/article/9854.20794.0.0/europe/german-court-bows-to-draghihttps://twitter.com/RonFraser2https://twitter.com/RonFraser2https://www.thetrumpet.com/article/9854.20794.0.0/europe/german-court-bows-to-draghihttps://www.thetrumpet.com/article/9854.20794.0.0/europe/german-court-bows-to-draghi
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    SEPTEMBER 22, 20128THE TRUMPET WEEKLY

    countries, she has become a hate fig-ure. How do Croatians view Europesmost powerul woman?

    Milanovic: We have no ear o the

    chancellor here. Germany is a rolemodel or us, with its German ratio-nality, its industriousness and even itsrugality.

    TW I N B R I E F

    n French magazine provokes IslamFrance will close its embassies and

    schools across countries afer aFrench satirical magazine, CharlieHebdo,provoked Muslims by pub-lishing cartoons o Muhammed, onSeptember . Te magazines rontcover showed an ultra-orthodox Jewpushing Muhammed in a wheel chair,with the heading do not mock.Inside, the magazine printed sev-eral drawings o Muhammed naked.France will close down its buildingson Fridaythe Muslim day o prayer.In unisia, they closed on Wednes-

    day. Te magazines editor, StephaneCharbonnier, said he is ed up with theWests special treatment o Islam. Wehave the impression that its officiallyallowed or Charlie Hebdoto attackthe Catholic ar right but we cannotpoke un at undamental Islamists, hesaid. It shows the climateeveryoneis driven by ear, and that is exactlywhat this small handul o extremistswho do not represent anyone wanttomake everyone araid, to shut us all in

    a cave. Charlie Hebdohas a history omocking all main religions, and cameunder attack rom Islam last year. Itsoffices were firebombed and its website

    hacked afer it published cartoonso Mohammed in November .Europe has a large Muslim popula-tion. Tese kind o provocations couldquickly lead to a much larger clash.

    n Berlin Group: EU needsarmy and super-presidentTe European Union needs a radi-cal transormation into a superstate,according to proposalslaid out by theEUs most enthusiastic members. Tecreation o a European army, a single

    European president and a Europeanborder police orce were among theirmost striking recommendations.Formed at Germanys behest, thegroup o oreign ministers rom member states met throughout theyear and published their conclusionsSeptember . Cal ling themselvesthe Future o Europe Group, andsometimes known as the Berlinclub or Berlin group, their sugges-tions to create a super-president over

    E aim or ull-blown unity which would seemonetary and political union entwined with a currencyunion rivaling the United States, the UK and Japan, ana-lysts told Wednesday.

    Hans Redeker, global head o Foreign Exchange Strategy

    at Morgan Stanley, told : We need to aim or a unitedstates o Europe. Ten we would get a currency union likethat o the States, the UK and Japan, its essential, other-wise this [bond-buying] plan will not gain credibility.

    He added that Mario Draghi, the European CentralBank () president who unveiled his bond-buying planearlier this month, had understood the problem that Eu-rope aced and that he had needed to take this step.

    It was necessary to create a homogeneous bond market,he said.

    Te programknown as Outright Monetary rans-actionswould see the buy up unlimited amounts oshort-term bonds o a struggling country.

    Bob Janjuah, strategist at Nomura, said the plan wasDraghis attempt to urther his own political agenda oa ederal Europe, claiming the was attempting toorchestrate the grossest misallocation and mispricing ocapital in the history o mankind. Redeker admitted thatthe creation o a United States solution would be an

    uphill struggle because o the changes required to indi-vidual countries constitutions.

    Te already strained relationship between Germany andthe took a urther beating when Bundesbank chie JensWeidmann, speaking at an event in Frankurt to mark the

    th anniversary o Goethes death, likened the bond-buying plan to a Faustian pact with the devil.

    In Goethes classic tale the devil convinces an emperorto print money which in turn leads to rampant inflation.

    Declan Ganley, chairman and at Rivada Networks,has been openly critical o European policy and policy-makers in recent months and told that the analogybetween Draghi and the devil was appropriate. Tiscomparison cuts right to the heart o the issuethere isacute awareness o the inflation risk o money printing.

    Te rules o capitalism have gone out o the window,money printing does not solve the problem and does notpurge the insolvency, he said. He was, however, supportive o

    the idea o a European ederation o states in which coun-tries pool their sovereignty to ensure the viability o the euro.

    He argued that European Commission President JosManuel Barrosos call last week or a ederation o nation-states was a courageous move towards the politicalstructure o Europe.

    Only Real Solution Is United States of EuropeCNBC | September 19

    In December 1991 , serious events began

    to take shape within Germany and Eastern

    Europe. Germanyalthough strongly

    opposed by the European Economic

    Community, the U.S. and the UN

    recognized the breakaway states of Croatia

    and Slovenia. Isnt it also disturbing

    that the Croatian leaderthe late Franjo

    Tudjmanwould not disassociate himself

    from the Croatian fascists , or Nazis, of the1940s, yet was still a respected leader

    in a Roman Catholic country? It is

    Germany and the European Union that are

    taking control of the former Yugoslavia.

    The Balkan Peninsula is an extremely

    important strategic area. The German-

    led EU is also working hard to get control

    of the Mediterranean Seaof even greater

    strategic importance.

    Gerald Flurry, Germanys Conquest

    of the Balkans,1999

    http://www.msz.gov.pl/files/docs/komunikaty/20120918RAPORT/report.pdfhttp://www.msz.gov.pl/files/docs/komunikaty/20120918RAPORT/report.pdf
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    Crowd Attacks U.S.Ambassador in BeijingTELEGRAPH | September 19

    A crowd mobbed a carcarrying the U.S. ambassador toChina at the height o protests againstJapans claims over islands in the EastChina Sea. Around Chinese pro-testers surrounded the official car o

    the United States ambassador in Bei-jing, who escaped unharmed, accord-ing to the U.S. State Department.

    Te melee occurred outside thegates o the U.S. Embassy and securityguards had to intervene to protectGary Locke, . Te protesters causedminor damage to the vehicle.

    Embassy officials have regis-tered their concern regarding todaysincident with the Chinese Ministryo Foreign Affairs, and urged the

    Chinese government to do everythingpossible to protect American acilitiesand personnel, the statement said.

    Te Chinese artist and dissident AiWeiwei tweeted a photograph o theprotest on uesday afernoon, and saidthe crowd had chanted: Down withU.S. imperialism and, Pay us backour money! reerring to the trilliondollars or so o U.S. government debt

    that China holds.

    TW I N B R I E F

    n Dont be fooled by theRusso-Chinese rebuke of IranLast week, Russia and China joinedour western powers in the Interna-tional Atomic Energy Agency () inissuing a tough resolution against Iranor its ailure to co-operate in its nucle-ar program. Moscow and Beijing have

    criticized the Wests expanded unilat-eral sanctions on Irans oil exports,andhave repeatedly blocked UN SecurityCouncil resolutions condemning Iransproxy, Syria, or its violent repressiono uprisings. Both were also initiallyreluctant to submit the iaea resolu-tion. For these reasons, the move byRussia and China last week to join thewest in stepping up pressure on Iran

    was heralded as a surprise victory bywestern powers. But the move waslikely calculated to relieve the pressureon Moscow and Beijing, and to sparethem the need to endorse tougher mea-sures against Iran in more meaningulavenues like the UN Security Coun-cil. Despite the savvy Russo-Chinesedecision, these two Asian powers willcontinue to make the task o isolatingIran in the Middle Easy an arduousone or Western powers.

    ASIA

    the whole EU were the subject o theJuly rumpet magazines cover article.But the biggest changes ailed toreceive unanimous support, under-scoring one o their key conclusions:In a realistic view, in the long-termtreaty reorm in a European Union o or more member states will become

    more and more difficult. Instead, theysuggested a way or the bulk o theEU to move ahead while other nationsreused or delayed ratification o thereorms. Te report also said while thegroup aimed or a European DeensePolicy that coordinated weapons de-

    velopment, some members wanted toeventually orm a European army. An-other striking proposal that also ailedto receive the ull support o the groupwas the creation o a double-hattedpost o president o the Commission

    and president o the European Coun-cil. Te bulk o the report ocused onuniying the Union and streamliningits decision-making process.

    n German Army advertizesadventure camps to teensTe German Army has teamedup with a glitzy teen magazine to

    advertiseadventurecamps toGermanyouth as ittries to per-suade youngpeople to

    join, nowthat con-scription isno longer inorce. Temagazineswebsiteshows youngpeople enjoying the beach, playing

    volleyball and scrambling over rocks.Te magazine, Bravo,is the armysmedia partner in the camps, and theads prominently eature on its homep-

    age, www.bravo.de. Childrens rightsexperts in Germany are outraged.Tis misleading advertisement inyouth media violates the principles othe United Nations Convention on theRights o the Child, and the particu-lar duty a government has to protectchildren, said expert rom erredes Hommes,Ral Willinger, reports

    Spiegel Online. Te Bundeswehrsadvertising is becoming more inten-sive, both quantitatively and qualita-tively, he said. From until ,Germany, or the most part, was a

    military state. Te end o conscrip-tion is changing the much quieterrole the military has played since thattime. Germany has never tried thisbeore. Te military is going throughits greatest change in several genera-tions. Watch or this type o recruitingto increase as the army grows to play abigger role in German lie.

    A teen jumps at a high-rope course during a

    youth adventure camp.

    COTTON PURYEAR

    https://www.thetrumpet.com/article/9436.8310.145.0/britain/a-deadly-secret-plot-has-been-uncoveredhttp://www.bravo.de/specials/bw/adventure-campshttp://www.spiegel.de/international/germany/critics-slam-german-military-ad-for-adventure-camps-aimed-at-teens-a-856712.htmlhttp://www.spiegel.de/international/germany/critics-slam-german-military-ad-for-adventure-camps-aimed-at-teens-a-856712.htmlhttp://www.bravo.de/specials/bw/adventure-campshttps://www.thetrumpet.com/article/9436.8310.145.0/britain/a-deadly-secret-plot-has-been-uncovered
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    SEPTEMBER 22, 201210THE TRUMPET WEEKLYPAUL J. RICHARDS/AFP/GETTY IMAGES

    Brazil: QE Has IgnitedCurrency WarFINANCIAL TIMES | September 21

    G M, Brazils financeminister, has warned that the U.S.

    Federal Reserves protectionist moveto roll out more quantitative easingwill reignite the currency wars withpotentially drastic consequences orthe rest o the world.

    It has to be understood that thereare consequences, Mr. Mantega told

    the Financial imes in an interviewon Tursday.

    Te Feds program would onlyhave a marginal benefit [in the U.S.]as there is already no lack o liquid-

    ity . . . and that liquidity is not goinginto production.

    He said it was instead depressingthe dollar and aimed at boosting U.S.exports.

    As finance minister under Presi-dent Dilma Rousseff and ormerpresident Luiz Incio Lula da Silva,Mr. Mantega has watched Brazils

    economymove rom confident boomto near-stagnation this year.

    He cited Japans decision this weekto expand its own program, com-ing on the heels o the Feds decision

    to launch urther last week, asevidence o growing global tensions.Tats a currency war, he said.

    Japanese companies were complain-ing about their strong exchange rate.I a weaker dollar leads to rising tradecompetition, then that will also orceBrazil to adopt measures to stop the realstrengthening, Mr. Mantega said.

    ANGLO-AMERICA

    AFRICA/LATIN AMERICA

    The Alternate Universeof Americas Leaders

    JOEL HILLIKER

    T alternate universe. Tese wordshave been ringing in my ears since I heardAnderson Cooper say them a couple weeksago. Tey well describe the dangerous thinkingo Americas leaders in recent events. Tere is a shockingdisconnect rom reality.

    Several American outposts in the Middle East lie de-aced or smoldering right now, thanks to violent Muslimmobs that chanted, We are all Osama. Islamic banners flywhere American flags should be. An American ambassadorand three other U.S. personnel are dead and buried.

    Anyone watching this would have to conclude thatAmericas oreign policy in that region needs to at leastbe reconsideredright? Here is how German newspaperDie Weltinterpreted these events: U.S. President BarackObamas Middle East policy is in ruins.

    Its not difficult to agree. For our years this man has beenreaching outwishing Muslims a happy Ramadan; embrac-ing the Muslim Brotherhood; apologizing or things Ameri-

    ca did in the Mideast to deend against the Soviets over hala century ago; criticizing Americas response to /; helpingto liberate Egypt and Libya. Like no president beore him,he tried to win over the Arab world, Die Weltwrote.

    Youd have to say the past weeks events delivered apretty resounding response. [N]ow parts o the reed soci-eties are turning against the country that helped bring theminto being, Die Weltconcluded. Anti-Americanism in theArab world has even increased to levels greater than in theBush era. Its a bitter outcome or Obama.

    Amazingly, though, the Obama administration doesnt

    see any connectionbetween the policy it has pur-sued or our years and these attacks.

    How could this happen in a country we helpedliberate, in a city we helped save rom destruction?Hillary Clinton said afer the murders in Libya. Shehas no idea. She couldnt see it coming.

    Te radicals there and elsewhere declared waron America. Still, theres really nothing to worry

    about, Clinton continued. Tis was an attack by a smalland savage groupnot the people or government o Libya.

    Jay Carney agreed: Tis is in response not to U.S. policy,not to, obviously, the administration, not to the Americanpeople. It is in response to a videoa filmthat we have

    judged to be reprehensible and disgusting, he said. In otherwords, Were on the same side as the protesters. We all agree:Tis video is reprehensible and disgusting.

    I these mobs didwant to protest U.S. policy, the ad-ministration or the American people, what would theyhave to do? Islamist chants, flag burning, arson, murderWashington doesnt take any o these personally.

    Tis administration still thinks it is doing everythingright.And when events blow up in their aces, they thinkthe problem is simply that they havent done enough o

    what theyre doing. Tey are unteachable.It reminds me o a passage in RevelationChrists mes-

    sage to the church o the Laodiceans. He corrects themor their horrible disconnect rom reality: [Y]ou say, I amrich, have become wealthy, and have need o nothinganddo not know that you are wretched, miserable, poor, blind,and naked (Revelation :, New King James). Tat is thesel-congratulatory yet spiritually sick character o our age.

    President Obama maintains he is proud o helping torestore a sense o respect or America around the world.Alternate universe. Follow Joel Hilliker: Twitter

    http://video.cnbc.com/gallery/?video=3000112409http://video.cnbc.com/gallery/?video=3000112409https://twitter.com/joel_Hillikerhttps://twitter.com/joel_Hillikerhttp://video.cnbc.com/gallery/?video=3000112409http://video.cnbc.com/gallery/?video=3000112409
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    SEPTEMBER 22, 201211THE TRUMPET WEEKLYZEROHEDGE ET AL

    Cyber Attack:Protesters Turn DigitalFOX NEWS | September 20

    O course o this week, threemajor U.S. financial institutionshave seen their Web inrastructure tar-geted in technical attacks. On at least

    two occasions, groups or individualsclaiming to be aligned with Muslimssaid the attacks were a reprisal or theInnocence o Muslims trailer .

    On uesday, Bank o Americaswebsite was inaccessible to some us-ers over the course o several hours,according to multiple security expertsand customer postings on socialmedia platorms. A source told Business the outage was the result oa technical attack levied against thesecond-biggest U.S. bank by assets

    domain name architecture.A group calling itsel the cyber

    fighters o Izz ad-din Al qassamtook responsibility or the attack on awebsite called PasteBin, which is regu-larly used by cybercriminals to bragabout exploits. Te message said themovie was sacrilegious to all religions,not only Islam. It called on Muslimsworldwide to do whatever is neces-sary to stop spreading this movie.

    It went on to say the group will

    attack Bank o America and the NewYork Stock Exchange, institutions itreerred to as properties o American-Zionist capitalists.

    Chase.com, Chases consumerwebsite, suffered intermittent outagesthroughout the day. []here were noapparent claims o responsibility orthis attack.

    In act, the Financial Services-Inor-mation Sharing and Analysis Center,which collaborates on security threatsagainst the financial services industry,

    on Wednesday raised its cyber threatlevel to high rom elevated. -cited credible intelligence regard-ing the potential or DDoS and othercyberattacks against financial institu-tions, as the reason or the move.

    Deputy Deense Secretary AshtonCarter was quoted by Reuters as sayingin a speech Wednesday that private net-works across the U.S. remain vulnerableand that the speed at which companiesare securing them is inadequate.I hope

    this isnt one o those situations wherewe wont do what we need to do untilwe get slammed, he said.

    U.S. PresidentialCandidate Tells

    Some Truths!MELANIE PHILLIPS | September 19

    M R has made someremarks at a und-raising din-ner which have apparently shockedAmerica and the entire Western worldto the core. Readers o this blog willknow that I am no an o Romney. Sowhat did he say to create this uror?

    He said: Tere are percent o thepeople who will vote or the presidentno matter what. All right, there are

    percent who are with him, who aredependent upon government, who be-lieve that they are victims, who believethe government has a responsibility tocare or them, who believe that they areentitled to health care, to ood, to hous-ing, to you-name-it. Tat thats an en-titlement. And the government shouldgive it to them. And they will vote orthis president no matter what . Teseare people who pay no income tax.

    Almost hal the American people

    receive government handouts andpayno income tax? Tats truly shocking.For sure, Romney should not havelumped the truly vulnerable and de-serving with the increasing number othose who could work but are some-how not participating in the growing

    jobs market. But even so, the gen-eral point that too much o America isbeing sucked into state dependencyand that by increasing their numberObama is effectively gerrymanderingthe electionremains a powerul one.

    He said that the Palestinians haveno interest whatsoever in establishingpeace, and that the pathway to peace isalmost unthinkable to accomplish . Ilook at the Palestinians not wanting tosee peace anyway, or political purpos-es, committed to the destruction andelimination o Israel, and these thornyissues, and I say theres just no way.

    Absolutely correct. Both the Hamasand Mahmoud Abbass Fatah make itcrystal clear over and over again that

    they want to destroy Israel as a Jewishstate. Tats truly shocking.

    He said: I I were Iran a crazedanatic, Id say lets get a little fissilematerial to Hezbollah, have them carryit to Chicago or some other place, andthen i anything goes wrong, or Ameri-ca starts acting up, well just say, Guess

    what? Unless you stand down, why,were going to let off a dirty bomb. Imean this is where America couldbe held up and blackmailed by Iran,by the mullahs, by crazy people. So wereally dont have any option but to keepIran rom having a nuclear weapon.

    Absolutely correct. While otherdirty bombs are all-too possiblerom chemical or biological materi-als, the prospect o a portable Iraniannuclear device in the hands o Hezbol-lah is clearly one potentially night-

    marish outcome or America i Iran isnot stopped rom developing nuclearweapons. Tats truly shocking.

    He said: Te presidents oreignpolicy, in my opinion, is ormed in partby a perception he has that his magne-tism, and his charm, and his persua-siveness is so compelling that he cansit down with people like Putin andChvez and Ahmadinejad, and thattheyll find that were such wonderulpeople that theyll go on with us, and

    theyll stop doing bad things. And itsan extraordinarily naive perception.Absolutely correct. Te outcome

    has been the chaotic empowermento Islamist anatics in Libya and Egyptby Obama and other Western leadersresulting in the recent murder o mission staffto which the Obamaadministration responded with yetmore kow-towing to the anatics that has put America and the entire reeor would-be ree world in even greaterdanger. And thats truly shocking.

    Te most shocking thing o all, how-ever, is that the mainstream U.S. mediadont think any o these things is shock-ing. What they think isshocking is thatRomney told the truth about them.

    Tey dont think its shocking thatObamas disastrous oreign policy hasempowered the mortal enemies o theWest and weakened both Americaand the ree world. Tey think its ashocking gaffe that Romney has saidso. How dare he!

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    SEPTEMBER 22 201212THE TRUMPET WEEKLY

    DOLLAR from page 1

    MATTHIASHAAS/ISTOCKPHOTO

    The Prophet Isaiah gave a most inspiring and wonderful

    prophecy to us for this end time. He talked about the time that

    there would be the voice in all this religious confusion that

    would reveal the true God. It is up to us to prove all things, as

    God says, and find the voice that reveals the true God.

    This week ontelevision

    The Voice That Reveals the True God

    Check local listings or visitwww.keyofdavid.com.

    Reserves announcement wasnt shocking enough, what itsaid next should blow your socks off. Te Fed said it waswriting itsel a blank check or how much it could spenduntil the labor market improved substantially. It gaveitsel no predefined limit on how long, or on how much itcould spend under this new program. It is completelyopen ended. It can go on orever.

    Te Fed also indicated that i this did not prove enoughto stimulate the job market, there were other policy weap-ons the Fed could unveil. For starters, it will keep the inter-est rate it charges banksto borrow money at zero

    percentuntil at least .Remember: Tis new

    program is in additionto the current billionper month the Fed is usingto purchase U.S. treasurybondsto keep the ederalgovernment paying its bills.

    In the past, the FederalReserve has only lent moneyto the ederal governmentshort term, but now it isgoing to use this billionper month to lend to thegovernment longer term.

    For those not versed inthe intricacies o Federal Reserve machinations, rememberthat the Fed has no money o its own. Any money it spends,it does via a printing press, or its electronic equivalent,which it uses to create dollars out o thin air.

    But there is no such thing as a ree lunch. Economistsalways orget the other side o the equation. You dont justcreate billion, throw it at the banks, and get magicaleconomic growth. Te ailure o and should haveillustrated that by now. I creating growth was so easy, whystop at only bil lion per month? Why not billion?

    Te problem is that when the Fed creates money out othin air, it cheapens the value o all preexisting dollars.

    So while dollar money supply totals may grow by billion per month, and while gross domestic product mayincrease, it is phony growthbecause the dollars are worthless. Yes, people are spending more, but they are getting less.

    Printing money to buy things is Zimbabwe policy. We

    all know what happened to Zimbabwe when it tried this.Eventually it cost Zimbabweans billions o dollars to buy abanana. Tis is where the road leads.

    It is happening already. Within just a ew hours o Ber-nankes statement, the dollar had lost over hal a percent in

    value. On Friday it lost more than hal a percent again.In two days, the dollar lost more than a percent of its

    value. And that was due to just the announcement. Tedollar printing has barely started.

    Te Federal Reserves policy will drive the dollarthrough the floor,says Peter Schiff, o Euro PacificCapital.

    Tis is a disastrous monetary policy; its kamikazemonetary policy, Schiff told . Te dollar is goingto be in ree all at some point ultimately theres going tobe a currency crisis.

    Schiff is absolutely right. When Americas central bankannounces that it is going to create unlimitedamounts onew money to fix the economy, you need to realize thatAmerica is in serious trouble.

    Te truth is that America is addicted to quantitative eas-ing. It can no longer unction without it. Te ederal gov-ernment cant cover its bills without money printing. Te

    banking sector would collapse without money printing.Te mortgage market would no longer unction without

    various orms o quantitative easing. And now Bernankesays the job market may not recover without .

    America needs to prepare or massive economic upheav-al. Americas top banker has signaled that it is quantitativeeasing or sudden death or the economy. Tere is no choice.I the money printing stops, America stops. But that meansthe dollar is going to get killed. will destroy the dollar,and Americas standard o living.

    ough times are coming.Follow Robert Morley: Twitter

    Is printing more paper

    money really a solution to

    Americas debt problems?

    http://www.moneynews.com/Markets/Schiff-kamikaze-QE-dollar/2012/09/14/id/451847http://www.moneynews.com/Markets/Schiff-kamikaze-QE-dollar/2012/09/14/id/451847https://twitter.com/MorleyRoberthttps://twitter.com/MorleyRoberthttp://www.moneynews.com/Markets/Schiff-kamikaze-QE-dollar/2012/09/14/id/451847http://www.moneynews.com/Markets/Schiff-kamikaze-QE-dollar/2012/09/14/id/451847