On July 18, 2013, Detroit declared Chapter 9 bankruptcy to squelch most of their $18 billion in debts. The Chapter 9 filing occurred only four months after the appointment of an emergency financial manager. ‘Let me be blunt: Detroit’s broke,’ says Michigan’s governor, Rick Snyder. Snyder went on to say that Detroit is the heart of Michigan and if Detroit is in trouble, Michigan is in trouble.
Detroit is the largest American city to declare bankruptcy, officially succumbing to job losses in the auto industry, decades of population flight, and the collapse of revenue to cover everything from policing to street lighting.
By the end of this article, the reader will come to see the prophetic wisdom of Governor Snyder’s words as the bankruptcy of Detroit is a portend of what is to come to most American cities.
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The globalists murdered Detroit through the various free trade agreements. Through NAFTA, GATT, and CAFTA, American auto manufacturing were free to ship their factories overseas in search of near slave labor markets. The passage of these free trade agreements made it possible to hire foreign slave laborers and without the now prohibited tariffs on imports, the globalist controlled corporations could ship slave labor manufactured products back into the United States. Our government failed to protect manufacturers and the net effect is that we are beginning to see third world conditions inside of the United States in cities such as Detroit and it is spreading like wildfire. Since the 1970′s, America has lost 86% of its manufacturing jobs. Actually, the Globalists have been trying to get rid of American tariffs for 100 years in the name of free trade. Look up the Payne-Aldrich Tariff, it is part of our history. A year later, we got the Federal Reserve Act of 1913 and then real fun began in earnest.
Tariffs used to pay our national debt. This is no longer, we replaced tariffs with the Income Tax Amendment. If you are reading this historical facts for the first time, you have to be getting angry. And who could blame you for getting angry? You and I should not be paying income tax, tariffs should be paying for the national debt. We are paying income tax because the globalists wanted free trade and it is our “duty to pay” so they can maximize their profits. The third leg of this scheme was to introduce fiat currency where bankers could invent money out of thin air which caused our money to now be worth less than 4 cents for what used to be a dollar. Full story...
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