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Dec. 10, 1998 - Bill Cooper
58:50
Economic Crisis Hits
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and it's all right.
The ice and all that good will do.
The good will do.
So, yeah.
It's all right.
Good evening.
Good evening.
You're listening to the Hour of the Time.
I'm William Cooper.
Ladies and gentlemen, a few nights ago I gave you a treatise on the state of the world economy worsening.
And many of you still have questions.
You don't understand how the world economy is affecting the United States of America, or if it even can.
Well, you better stand by, because I'm going to lay it on the line tonight.
And it's scary.
It's really, really scary.
So you'd better pay attention and you'd better take notes.
Just recently, a billionaire financier, one of the people in fact who has helped engineer the economic instability in Asia, George Soros, said the global economics crisis of the past 17 months shows that the international financial system is broken and needs to be fixed.
He's laying the groundwork for what I told you is coming.
He said that while a lot of these countries that are undergoing tremendous economic crises suffer from misalignment of exchange rates, poor banking systems and inadequate financial regulation and crony capitalism or budget deficits, whatever that means, that there was no common link to the spread of the financial contagion, which is absolutely false.
He says international capital flows must have been at the root of the problem.
He also said that attention should not be confined to the countries affected by the crises that started in Thailand in July of 1997 and spread to Russia and Latin America because the international banking system must also be at fault.
So what's the answer, ladies and gentlemen?
The answer is going to be an international system based upon the model of the Federal Reserve of the United States of America.
I've got a lot to tell you tonight, and you'd better listen carefully.
I'm going to tell you a story.
Think again, ladies and gentlemen.
And you had better think really, really hard.
Because it's not true.
You are susceptible, and there is a terrible hurt coming.
Terrible hurt coming.
For those of you who have not been paying attention, July, or excuse me, May, ladies and gentlemen, of 1997, I predicted that the New York Stock Exchange would fall over 500 points on October the 24th, 1997, and that it would be the beginning of a worldwide economic collapse, beginning in Asia and spreading to third world nations in the Western Hemisphere.
And that it would take about a year to spread to the United States and Europe and hit the New York Stock Exchange really hard.
I was right to the date in everything that I said.
It all came true right on schedule, unfortunately.
And then in July of 1998, I predicted that on or before October the 25th, the New York Stock Exchange would crash I predicted it would hit a low of 2,500 points.
Not 2,500 points on the Dow, but would drop 2,500 points.
It actually dropped 1,900 points.
It did crash.
And the reason it did not sink to the 2,500 that I had predicted was because the American press did not tell the American people the truth about what was happening in the rest of the world.
The government and the communist news networks instead put out a plethora, a bombardment if you will, of propaganda, telling the American people that employment was up higher than it's ever been, that the economy was doing greater than it's ever done, that Americans were living higher on the hog than they've ever lived.
You all know that that's not true.
And so Americans bought it.
And so the exchange began to struggle back up.
Then I predicted that it would struggle back up, but not hit its July 98 high of $9,370, and it did not.
It then began going back down.
That was on the website.
Those of you who are on the Internet, you saw it.
And that's what's happening now.
I said that there would be tremendous layoffs and cut back in production.
And guess what, ladies and gentlemen?
The very next day, Boeing announced layoff of 48,000 workers.
And more were announced.
Today, a major manufacturer of telephone equipment announced they are laying off 10,000 workers.
Why is this happening?
Just recently, ladies and gentlemen, Japan finally admitted that they are in the depths of a recession.
A recession.
Japanese banks are failing.
Japanese corporations are failing.
Japanese executives are committing suicide.
Japan's economy has sunk deeper into recession Just in this last quarter, shrinking at what they say is an annual rate of 2.6% in the latest quarter to make four consecutive quarters of contraction, something they had never admitted.
Now, Japan is the strongest economy in Asia.
This sign of weakness from Tokyo means other struggling Asian nations are going to have to wait even longer for Japan the strongest economy in the region to help pull its
neighbors out of an economic slump.
And I'm going to tell you it's not going to happen.
This was the first time the Japanese economy has shrunk for four consecutive quarters since
the government started compiling growth statistics in 1955.
1955!
55 and show Japan remains mired in its worst recession since World War II.
You better listen to me carefully tonight.
Thank you.
You don't think it's bad?
Listen.
Listen carefully.
The global crisis has hit international shipping.
Ship owners are being forced out of business by the worldwide economic crises and they are abandoning their vessels and leaving their penniless, starving crews to fend for themselves thousands of miles from home.
Decreased trade worldwide, spawned by the economic turmoil in Asia, has created a glut of ships.
This glut is proving fatal to some small companies that send their vessels from port to port depending upon cargo needs rather than sailing fixed routes.
And so wherever the ship is, when they run out of money, that's where the ship stays.
are dismissed in foreign ports without pay, having to somehow make their way home on their
own.
Nearly four months after Russia's financial markets disintegrated,
Thank you.
Most of Russia's banks have closed their doors.
That's right, they've closed their doors.
The foreign companies who do business in Russia don't have any accounts in Russia's banks because they've already lost enough money, they've learned their lesson.
And so to get money to do business, they have to fly executives to Europe to withdraw tens of thousands of dollars in cash.
Then they hand-carry the money back to Russia in their briefcases, and you can imagine what kind of a problem that is causing.
It has to be repeated over and over again.
The ruble is still sliding.
There's still fuel shortages.
Some places in Russia this winter will go without heat.
They're starved for foreign loans, but nobody's going to loan them any money.
Every day more and more banks close their doors, never to reopen.
They have admitted there will be no economic growth next year.
They're not in a recession, ladies and gentlemen.
They are in a complete and total collapse.
Russian rubles literally are blowing in the wind in the streets.
The Russian people have deserted the ruble.
Weeks ago, some even months ago, seeing what was happening, purchased dollars Our hard commodities, goods to trade, barter.
Barter is the economy of Russia today.
Now, you don't think this is important?
Well, the United States government does.
They know what's coming, and I know what's coming.
You see, this is not just occurring in Asia.
It has spread around the world.
Around the world.
Guess what's happening in South America, ladies and gentlemen, in Central America?
Their markets are collapsing also.
The United States government knows what happens when people in South and Central America become extremely poor overnight.
They began a trek into the United States.
It's called refugees.
In fact, it's called a refugee flood.
The United States government is concerned about the flood of refugees because of economic collapse in Central America, and the federal government is now laying plans to control massive, sudden migration at the United States-Mexico border.
The Immigration and Naturalization Service has drafted plans that call for, in part, rapid construction of ten centers To absorb the flow of refugees in the event of a natural catastrophe, they call it, south of the border.
But the plan specifically names economic collapse.
Specifically names economic collapse.
Each center would be designed to accommodate up to 5,000 undocumented immigrants.
These centers, ladies and gentlemen, for those of you who care, could also double as detention
camps or concentration camps.
Thank you.
The INS is now searching out the best sites along the border for locating these centers.
Did you know that according to reports issued by the United States government,
personal bankruptcies have increased in 1998 300 percent?
Where is this wonderful economy they're telling us about?
Personal bankruptcies have recently increased 300%.
Across America, in the Christmas season, the worst time of the year, people are being laid off all across America.
.
You see little bits and pieces from the talking heads of the communist news networks, but you never hear the truth or the real story or the extent of what is really happening.
You also are not aware That the employment statistics are skewed.
They are not telling the truth.
They are lying to all of us.
When they cite employment figures, ladies and gentlemen, they are citing only those who are drawing unemployment checks from state or federal government.
Listen to me carefully.
When they cite unemployment figures, they are only citing Those people as unemployed who are drawing unemployment checks from state or federal government.
They do not count anyone on welfare as being unemployed.
They do not count any of the homeless as unemployed.
They do not count anyone receiving relief checks as unemployed.
They count every person Who is hired part-time as employed?
You didn't know that, did you?
Well, it's a fact, ladies and gentlemen.
If they really counted the people who were really and truly unemployed in this country, the figures would be staggering.
Staggering.
But long ago, When they used to really count everyone who was really unemployed as unemployed, they began realizing what would happen if they continued to do it, and so they began to skew the figures.
And they began to eliminate certain classes of people from the unemployed.
Don't believe it?
Start asking the questions that we ask, and you will soon find out.
A lot of those that they count as employed are not employed full-time.
And most of the major industries in the United States today have cut back on full-time positions and are hiring part-time personnel.
There are great benefits for corporations when they do that.
You see, you have to work so many hours a week in order to be eligible for retirement.
Or for medical benefits, or for unemployment insurance, and all of the other things that come with being employed full-time in most of America's major companies and corporations.
They're lying to you.
Why do you believe it so readily?
Three more companies announced significant job cuts today.
Healthcare giant Johnson & Johnson upped, upped their figures.
Remember I gave you their figures that they had claimed they were laying off previously?
Well they've upped them.
Johnson & Johnson, Alliant Food Service and Weirton, Steel Corporation all announced labor cuts today, bringing the weekly tally of new job cut announcements by U.S.
companies to 36,000.
Cutting 36,000 jobs.
You all know about Boeing.
Cut 48,000 jobs.
48,000 jobs will be eliminated by Boeing.
Exxon and Mobil are going to eliminate another 9,000 jobs.
Right before Christmas, many of these people will be laid off.
Many of them have already been laid off.
Isn't this amazing?
Kellogg Company.
We'll lay off up to 1,200.
Now listen to this, ladies and gentlemen.
Listen very closely.
In many cities across America, thousands of workers are receiving pink slips.
Just this week, just this week, more than 64,000 people have been told they will lose their jobs because their companies have decided to cut costs in the interest of restructuring, fostering growth, or increasing shareholder value.
The truth is, is the global economic crisis is affecting the sales of American products People who cannot make a nickel in other countries can't buy American products.
Our trade deficit now is higher than it's ever been in history and it's rising rapidly.
The price of third world and Asian products are plummeting.
And this country is being flooded with cheap goods.
Goods that used to cost a lot of money.
are really inexpensive now.
You'll be seeing that reflected in the scores pretty soon.
In fact, ladies and gentlemen, in fact, 1998, 1988 is the worst year of the decade for job cuts as
companies continue to cut costs in an attempt to survive the global financial crises.
Listen to this very carefully.
625,000 workers are scheduled to lose their jobs this year.
625,000 workers are scheduled to lose their jobs this year, ladies and gentlemen.
That's not me saying that.
I took these figures directly off of CNN Financial News Network.
today.
According to Reuters News Service, US News
manufacturing growth already affected by the global economic crises will plunge further
next year. Manufacturing has been the weakest link in our economy this year.
Next year it's going to be even worse.
Why is it the weakest link?
Because to exploit cheap labor, most of our manufacturing companies and corporations have fled to third world nations with their plants.
And most of those American workers have already had to switch to service sector jobs.
paying jobs in America.
Bye.
Boeing is not the only one.
Northrop Grumman.
Northrop Grumman, one of the major aerospace companies in America, has been laying off workers for several months now.
And they have just announced today that they will cut 1,100 more jobs.
1,100 more jobs are being cut.
The layoffs will begin in January.
Now listen to this carefully.
They announced 1,100 more cuts.
And then, in the body of their press release, where they don't think most people will look because most people only read the first paragraph of press release.
Los Angeles-based Northrop Grumman now expects a total of 9,100 job cuts out of a total workforce of 54,000 through layoffs and attrition over the next year or so.
You see how sneaky they are?
They announce, here's their press release, Defense and Aerospace Company, Northrop Grumman Company, expects to cut an additional 2% or 1,100 jobs from its workforce.
Remember I told you bowling would affect other companies?
Listen to the excuse they give, because of a production downturn at Boeing Company, a Northrop Grumman spokesman said Tuesday.
And then, later, down inside the press release, here's what it says, Los Angeles-based Northrop Grumman now expects a total of 9,100 job cuts.
9,100 job cuts.
That's on top of what they've already been laying off that they don't talk about.
Thank you.
Healthcare giant Johnson & Johnson Thursday joined the growing ranks of United States based companies that are
flashing their workforces as it launched a restructuring plan that calls for the elimination of a net 4,100 jobs
and an $800 million fourth quarter charge.
Keep your eye on the Stock Exchange folks.
I was not wrong in my predictions.
I was wrong.
So so
so the
the the
I'm going to play it again.
www.mooji.org Copyright © 2020 Mootour.
.
It's a beautiful thing.
Despite the government's claim of economic strength, they've been lying.
The United States companies and corporations are still Still laying off workers and they are speeding up the layoffs.
Speeding up the job cuts.
It's Grinch this Christmas.
Layoffs at many big companies are accelerating just in time, ladies and gentlemen, for Santa Claus to spay his yearly visit.
Only under many trees there will not be much for the children or the family.
And the government still is trying to foist off this, quote, fairly robust domestic economy, end quote, crap.
And what's really bad is most Americans are believing it despite the evidence in their
own pockets, in their own bank accounts, in front of their own eyes.
And that's why I'm here.
Job cuts in 1998.
Notice folks, I'm not talking about next year, and there are only a few days left in this year, 1998.
It's all coming out now.
They've been hiding this from you for the whole year.
They've been trying to tell you that things were getting better, when in fact they were getting worse.
Job cuts in 1998 are looking to beat 1993, the worst year of the decade, and they are beating 1993.
According to Challenger Gray and Christmas, a firm that helps downsized workers find new
jobs, job cuts will reach 625,000 by the end of this year, 1998.
You see, William Jefferson Clinton doesn't just lie about sex, and he doesn't just lie
to federal grand juries, and he doesn't just lie under oath and depositions.
William Jefferson Clinton is one of the greatest liars that has ever lived!
And he hires liars!
Washington, D.C.
is populated with the worst, most chronic liars that have ever existed in one place in this country, in its history.
Texaco has just announced it will cut 2,000 jobs.
ITT Industries Incorporated just announced large layoffs.
Aerospace manufacturer BF Goodrich Company has just announced large numbers of layoffs.
Texaco has announced layoffs.
Union Pacific Resources Group all announced job cuts.
Goodrich is going to close two assembly plants.
One in Arkansas.
I guess both in Arkansas.
No, one in Arkansas and one in Maryland.
If you work at a B.F.
Goodrich plant in Arkansas or Maryland, you're out of a job.
They're going to close both of those plants.
Guess what, folks?
Companies are finally throwing in the towel.
They're throwing in the towel.
They know now what's coming.
See, they were trying to hold things together, hoping that the effects of the economic crisis, the world global crisis, would not require them to downsize or cut back on production or lay off workers.
But they were wrong.
And once again, I was rocked.
You see, the globalists have built an interlocking economy.
No longer can we sit comfortably in America if there is a crisis in Brazil.
It will affect us.
Not right away.
This global crisis took a year to reach America.
Just as I said it would.
Actually, it took less than a year.
It began to hit us in August of this year.
The recent resurge from the 1900 point loss in the Dow is just a little burst of optimism and wishful thinking.
The slide from here on out, ladies and gentlemen, could have no bottom.
No bottom.
The government says, the government says, employment is staying low.
The government says, employment is staying low.
How can that be?
How can that be, ladies and gentlemen?
Because they lie about the unemployment statistics.
That's how.
Many of you are worried about Y2K.
Listen to me very carefully.
Listen to me very carefully.
Y2K is not a problem.
Y2K can be fixed.
Most of the computers in America have already been fixed.
The ones that have not been fixed are in the process of being fixed, and they have a year to do it.
It is a simple reprogramming of a date function.
Most of the reprogramming can be done with programs that have been created, have been copyrighted, and are being sold to the companies, corporations and government agencies that need them.
And all you have to do is run the program on the computer, it will fix the Y2K problem.
For those who procrastinate, or for those who for some reason aren't going to fix their Y2K program until they have a breakdown or some undesirable result, when the date changes into the year 2000, will then be forced to fix it, or go out of business, and it will only take a very short period of time.
Are you listening to me?
The only danger that we face from Y2K is the ignorance and stupidity of the American and
the worldwide people. If they panic, there will be major problems in breakdown of societal
structure and there could be terrible repercussions from that.
Thank you.
The United States government believes there will be a panic.
The United States government has printed, already printed, fifty billion dollars.
This is money that was not scheduled to be introduced into circulation.
This is money that is being held.
It's already been printed.
It's being held in storehouses for the panic that they believe will ensue because of the doomsday sayers whipping up the sheeple into millennium doomsday fever.
Because if these fools make a run of the banks, the entire economy will collapse, because the cash does not exist.
This is a debt-based economy.
When money is put into circulation, it is usually put into circulation as a bookkeeping entry, or as an electronic transfer, or as a check, or as credit card money.
You see, you don't know it.
But when you buy something with your credit card, you are creating money that never existed before.
No one gives you any cash.
No one gives the store any cash.
Instead, the credit company makes an electronic transfer of this newly created money into
the account of the store.
Then through your labor you must create wealth.
to pay that back.
But you also pay back interest that was never created when you made the transaction.
And this is happening every day all across the country.
If there's a run on the banks, the banks will collapse.
The economy will collapse.
Society will collapse.
Martial law will ensue.
All because of stupidity.
all because the sheeple were drummed up into a hysteria over Y2K.
And that's what you'd better prepare for.
Thank you.
You don't think there'll be any panic over Y2K?
Well, they're going to create it.
This whole thing was a creation of government to begin with.
But next fall, right at the end of the year, when everybody will be at their maximum Millennium
fever Y2K hysteria, a movie will hit the theaters and television.
Thank you.
Guess what the name of the movie is, ladies and gentlemen?
Y2K.
The movie will star Chris O'Donnell as a New York programmer who comes across dangerous information just before midnight on December 31st, 1999.
31st 1999, year 2000, year 2000 hoaxers and hysteria whipper-uppers Peter D. Jagger and
Ed Yardeni signed as consultants for the Warner Brothers flick to make sure it's realistic.
Thank you.
Other studios working on Y2K disaster movies have no such scruples.
One reportedly will have a Boeing 747 crashing into the Empire State Building as its systems fail.
There will be a flood of Y2K movies in the fall of 1999 to whip up the hysteria across the world.
Not just here, ladies and gentlemen.
Everywhere.
And I'm not the only one who understands the danger of the panic.
Reuters.
London.
Even if the Millennium Bomb does not explode in the world's computers, just over a year from now, 1999 is likely to see rising panic as people take precautions against computer failure triggered by the year 2000.
Experts say the most vulnerable countries include Japan, France, Russia, and Brazil, and the most vulnerable sectors are utilities, especially power generation.
Next year we will see periods of calm broken by occasional news stories predicting computer systems failures.
I can guarantee you, you're going to see those stories.
Those stories will be planted to whip you into millennium fever.
The end of the world is coming!
Everything's going to stop working because of Y2K!
Disaster!
You're all going to feel pretty silly.
When you find out what happens and what doesn't happen, and where the worst disasters originate and what caused them, it will not be Y2K.
It will be stupidity and ignorance.
It will be sheeple panic.
What do you think is going to happen?
the next one.
What do you think is going to happen, ladies and gentlemen?
We're going to find out, aren't we?
We'll see you next time.
Listen to me, because I'll be right again.
The only thing we have to fear is fear itself.
Franklin Delano Roosevelt said that, and it's just as true today as it was when he said it.
He was a socialist.
I don't like his politics.
I don't like what he did with this country, but in that instance he told the truth.
The only thing we have to fear is fear itself.
The only thing we ever have to fear is fear itself.
Now listen to me carefully.
Tim is not going to be here.
Over the weekend and maybe into next week.
So I'm going to give you a new number to call if you want information on Dr. Wallach's products.
Call this number 520-333-4578.
That's the number to call over the next few days if you want information concerning Dr. Wallach's products.
The toll-free number will be Not working until Tim comes back.
So you will have to call 520-333-4578 if you want information on Dr. Wallach's products.
Also, ladies and gentlemen, beginning on Monday, the hour of the time will go back to a two-hour format.
A two-hour format.
Beginning Monday, the hour of the time can be heard on WBCQ.
From 8 until 10 p.m.
Eastern, 7 until 9 p.m.
Central, 6 until 8 p.m.
Mountain, 5 until 7 p.m.
Pacific.
One more time.
8 p.m.
to 10 p.m.
Eastern, 7 p.m.
to 9 p.m.
Central, 6 p.m.
to 8 p.m.
Mountain, and 5 p.m.
to 7 p.m.
Pacific.
That's the hour of the time, our new time slot.
And boy, are we going to be giving you a lot of information.
You're going to have to support this broadcast.
And if you can't support this broadcast, I'm going to have to ask you to go listen to somebody else.
And I mean it.
Also, I have a little bone to pick with some of you who have called and asked for information about Dr. Wallach.
If you call and you don't want the information, don't give us a wrong address because you
haven't got the guts to say so, because then we waste a lot of money and time sending you
information that goes to a wrong address and then comes back and we have wasted all of
that postage and time and effort.
If you don't have any guts, And if you're not an honest person, this is not the broadcast for you to be listening to, and I certainly don't want to have any dealings with you, if you fit into that category.
Fortunately, most of this listening audience are some of the best people that have ever been created by God on this earth.
But there's always those of you who, for some reason, don't belong here, shouldn't be listening to this broadcast, But there you are anyway.
Gutless, ignorant, apathetic sheeple.
Couch potatoes who never do anything.
wasting our time.
I don't give a damn about ratings, ladies and gentlemen.
I care about saving this country.
I care about talking to people who can listen, who can learn, who can question, who can make a difference.
The rest of you, I wouldn't give a nickel for.
Because you are the people who cause the destruction in the world.
You are the people who, because you do nothing, evil prevails.
Because you are cowards and wimps and stupid, ignorant, apathetic, we are in the position
that we are in.
I don't work here at all.
I'm not Rush Limbaugh.
I'm not trying to get rich.
Just pay for airtime.
Nobody gets rich telling the truth.
Anywhere.
Never have throughout history.
If you don't believe me, ask Socrates.
Ask Galileo.
Ask Giordano Bruno.
Ask Senator Joseph McCarthy.
I'm concerned about the restoration of constitutional Republican government
and saving freedom for the people of this nation and of the world.
All of you listening, regardless Of what race or religion you belong to, and regardless of what your particular point of ancestral origin might be.
I understand something that most people do not, will not, and cannot understand.
That unless you are willing to let your neighbors be free, just as free as you want to be, you cannot be free.
We'll never be free.
And if you're not willing to die for freedom, you cannot ever have it.
Not ever.
It cannot be yours.
If I want to take your freedom, all I have to do is threaten your life and you belong to me.
body and soul. A hero only dies one time.
The coward dies over and over and over and over and over again.
But if you know God and understand the laws of the universe that God has made, you have
nothing to fear from death, only from failure to do right.
And if you tell me you know God, but you're afraid to die, you are a liar.
Amen.
Thank you.
We have a lot of work to do in this country, ladies and gentlemen, and around the world.
But if the United States of America falls to socialism, so goes the world.
The end goal of socialism, according to Marx and Lenin, is communism.
It is the enslavement of the human race.
Wake up!
Good night, and God bless each and every single one of you.
Good night.
God bless you.
Now you know why William Jefferson Clinton called me the most dangerous radio host in America.
It was a great day.
It's true.
His lies cannot stand up before my truth, and that's what makes me dangerous.
Don't let him get away with this.
Call your congressmen, call your senators, demand that they impeach this lowlife, lying, scum-sucking, woman-manipulating worm.
A nation without morals is a nation doomed.
Don't miss Monday's edition of the Hour of the Time, right here on WBCQ.
Monticello, Maine, USA.
The end of the world.
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