The IRS/Fed/CFR Business Plan: Cause an Inflationary Depression for Economic Growth

The articles below are from the DrudgeReport.com today.

There's no other way to rationalize the Fed and IRS's behavior other than to say that it is a criminal organization designed to steal the wealth from the middle class.

Today they will steal $1 trillion dollars by intimidating and threatening people with a law that doesn't exist (voluntary compliance) and if it did exist it would be unconstitutional, immoral and otherwise illegal. Furthermore, all federal income tax goes directly to the Federal Reserve Corporation to pay unnecessary interest on money we gave them the power to create that they in turned loaned us.

To calculate inflation excluding energy and food is absurd when you spend most of your money on energy and food. It is like saying you will calculate inflation without using currency valuations as you are disregarding all commodities.

Wholesale Prices Soar (AP)

Core inflation, which excludes energy and food, was better behaved last month, rising by just 0.2 percent, down from a worrisome 0.5 percent rise in February.

...inflation pressures are occurring at a time when the overall economy is slowing and many analysts believe may have toppled into a recession. That raises concerns that the country could be facing another bout of stagflation, the malady that last occurred in the 1970s when economic growth stagnated but inflation kept rising.

Such a development would put the Federal Reserve in a bind. The central bank has been cutting interest rates in an effort to combat the current slowdown. However, if inflation pressures keep rising, it might be forced to stop cutting interest rates for fear that it would make inflation worse.

Oil Pushes to New High Above $113 (AP)

VIENNA, Austria (AP) -- Oil prices rose to new heights Tuesday, surging to almost $114 a barrel after the U.S. dollar fell and worries mounted about the global oil supply.

The recent run above $100 a barrel has been largely attributed to a steadily depreciating U.S. currency because a weakening dollar prompts investors to seek a safe haven in hard commodities such as oil and gold.

"We've seen another swing down in the U.S. dollar so I think we saw short term traders go back into oil as a hedge against the falling dollar," said Mark Pervan, senior commodity strategist at the ANZ Bank in Melbourne, Australia.

Stephen Schork, in his Schork Report, described the rush into oil on the falling dollar as an automatic reflex.

"Traders on the Nymex saw the dollar take another tumble, so they did what they have been conditioned to do when the dollar falls, i.e. they bought crude oil," he wrote.