Bailouts: the wound that will
keep on hemorrhaging
Part 2 of 2
Thursday, September 25, 2008
By Devvy Kidd
NewsWithViews.com
Congressman Ron Paul has been writing against this evil monetary system for more
than 30 years:
"The taxes cannot be raised much more, so they can go out and borrow money....So
then, they go and spend the money, and, lo and behold, there is not
enough money to borrow and not enough tax money to go around, so they
have to have one more vehicle, and that is the Federal Reserve, and
with a computer they can turn a switch and create a billion or $10 billion
in a single day and that debases the currency. It diminishes the value
of the money and alters interest rates and causes so much mischief,
that, if people are concerned about the economy or their standard of
living or rising costs of living, this is the source of the problem."
Congressional Record, April 28, 1997, page H-1902, Federal
Reserve Has Monopoly Over Money and Credit in the U.S.
Dr. Paul is still desperately trying to make his colleagues in Congress
understand that these hastily slapped
together so they can recess bail outs will simply kill a free market
system. Yes, the taxes will be raised until we are beggars in our own
land because the beast demands to be fed for all the debt now being
rammed down our throats. If enough of our enemies don't buy our paper,
where will the "money" come from to pay the interest for all
these hot checks?
The American people demanded change in 2006; about 30 seats out of 535 in
Congress changed. Two years later, no change, only more disasters. The
House of Nitwits and their counterparts in the U.S. Senate are about
to push America into the abyss for good. What do you think will
happen if virtually the same Congress is sent back to Washington in
January, 2009? Obama and McCain are clue less and besides,
they're just puppets who dance when their strings are pulled by the
destroyers who run the shadow government:
“The interesting thing is that they (the financial institutions) don't come
to the Congress, I mean the Federal Reserve buys them out, they own
it. We as tax payers now own Fannie Mae and Freddie Mac and know one
knows how much that will cost. They don't come to the Congress, we don't
have appropriations, it's done by secret government, private individuals
behind the scenes maneuvering and manipulating and trying to patch things
up."[3]
Remember the completely ignored facts brought out in Carolyn Lochheads's column,
September 12, 2004: Speeches Ignore Impending U.S. Debt Disaster?[4] The numbers were
beyond staggering then. Add a few trillion more onto the bonfire with
all these bail outs, foreign and domestic, and what you are looking
is the equivalent of a thermonuclear bomb waiting to go off.
When you're talking four years ago that the only way to combat a $72 TRILLION
dollar fiscal "gap" is to raise the income tax by a whopping
2/3rds FOREVER, people had better get very, very afraid.
This past weekend, I watched financial guru, Dave Ramsey, discuss people
staying in the market and not worry about their 401(k)'s and pension
funds because they're parked in companies like McDonalds and other conglomerates.
Like they can never go out of business. Does ENRON come to mind? As
the 7th largest corporation at the time with a $60 BILLION dollar capitalization,
they went down the drain. While I was pleased to read there is a settlement
in the ENRON lawsuits, when that behemoth collapsed, thousands were
wiped out, lost their homes and couldn't find jobs because the company
cooked the books. In
the recap of the settlement, some of the money goes to pension plans.
What if ENRON had no assets when it collapsed?
In recent columns I have reminded people about the bail out for Chrysler
- a 'one time' kiss from Congress back in 1981. Not so fast:
"Aug.
22 (Bloomberg) -- General Motors Corp., Ford Motor Co., Chrysler
LLC and U.S. auto-parts makers are seeking $50 billion in government-backed
loans, double their initial request, to develop and build more fuel-efficient
vehicles..." Next year is going to be a make-or-break year
in terms of survival,'' said Mirko Mikelic, senior portfolio
manager at Fifth Third Asset Management in Grand Rapids, Michigan, which
oversees $22 billion in assets, including GM and Ford bonds. "Any
help like these government loans would be a huge boost.''
I'm thinking to myself, just where is this "money" for these unconstitutional
loans going to materialize from? As I write this column, the people's
treasury is now overdrawn just under $9.8 TRILLION dollars, but Congress
is going to write more hot checks for BILLIONS of "dollars"?
Can you see a pattern here of no end in sight for bail outs?
You betcha Bernanke wants to shove this gargantuan package of toxic debt
down our throats because the resistance from the American people has
shocked the money elites who will benefit. Bush and Bernanke want to
get Congress to sign on the bottom line before they take off this Friday
for vacation the rest of the year. Oh, yeah. They'll also be out campaigning.
All of the House is up for reelection and one third of the unlawfully
seated U.S. Senate. We're also supposed to believe these ignorant members
who make up the U.S. Congress are going to "fix" the problem
with a 'wham-bam-thank-you-mam' 2,300 page solution that most of them
haven't read or even understand before they leave town?
The final thrust is already underway: a global system:
"The big central banks should put in place a standing network of currency
swaps, collateral policies and account arrangements that would make
it easier to mobilize liquidity across borders quickly in a crisis."[5] Timothy Geithner
is president and CEO of the NY Federal Reserve and, of course, a member
of the Bilderberger group who control our lives without mercy.
Even Comrade Obama agrees as he said in a speech at the University of Miami,
September 23, 2008: Taxpayers should share in the stability of the market
and that "we" have to have a global solution and work with
the G-20 (?) to work things out. As for what McCain is thinking, one
has to assume he can think; short,
horrifying video. Neither Obama nor McCain plan to be in Washington,
DC, for
the final vote on this massive theft. The reason is obvious: So
their vote can't be held against them as we head into very hard times
and an insolvent government. Real leadership qualities, but then again,
McCain has gone on record saying that while these bail outs are odious,
they're necessary. Yes, just like a beheading to treat a migraine.
A global monetary system would finally finish off our sovereignty and
for all intents and purposes our republic will be dead as we the people
get fitted for our chains, little better than oxen to the yoke. Ron
Paul voiced the feelings of many in his September 24, 2008 bulletin:
"Whenever a Great Bipartisan Consensus is announced, and a compliant media assures
everyone that the wondrous actions of our wise leaders are being taken
for our own good, you can know with absolute certainty that disaster
is about to strike. The events of the past week are no exception.
"The bailout package that is about to be rammed down Congress' throat is
not just economically foolish. It is downright sinister. It makes a
mockery of our Constitution, which our leaders should never again bother
pretending is still in effect....That describes the current bailout
package to a T. And we're being told it's unavoidable.
"The claim that the market caused all this is so staggeringly foolish that
only politicians and the media could pretend to believe it. But that
has become the conventional wisdom, with the desired result that those
responsible for the credit bubble and its predictable consequences -
predictable, that is, to those who understand sound, Austrian economics
- are being let off the hook. The Federal Reserve System is actually
positioning itself as the savior, rather than the culprit, in this mess!
"The issue boils down to this: do we care about freedom? Do we care about
responsibility and accountability? Do we care that our government and
media have been bought and paid for? Do we care that average Americans
are about to be looted in order to subsidize the fattest of cats on
Wall Street and in government? Do we care?
"When the chips are down, will we stand up and fight, even if it means standing
up against every stripe of fashionable opinion in politics and the media?
Times like these have a way of telling us what kind of a people we are,
and what kind of country we shall be."
The Internet is awash with columns and articles about this final take over
of our republic by the money interests. I have put together a compilation
of them in one file should you wish to read them in your "spare
time." It is a short chronicle of history as it unfolds; a tragedy
whose consequences will plague this nation for many years to come. If
Congress hasn't taken a final vote by the time you read this, get on
the phone and tell them NO! For part one click below.
Footnotes:
3
- Shadow
Government
4
- Speeches
Ignore Debt Disaster
5
- The
big fleecing
Educational Links
1
- The
indictment of the Federal Reserve Congressman Louis McFadden
2 - 1923
Congressional Record; begin read in right column, "And, Why?"
Click here for part -----> 1, 2
Devvy left the Republican
Party in 1996 and has been an independent voter ever since. She isn't
left, right or in the middle; she is a constitutionalist who believes
in the supreme law of the land, not some political party. Her web site
(www.devvy.com) contains a tremendous
amount of information, solutions and a vast Reading Room.
Devvy's website: www.devvy.com
E-mail is: devvyk@earthlink.net
NOTE: In accordance with Title 17 U.S.C. section 107, any copyrighted material herein is distributed without profit or payment to those who have expressed prior interest in receiving this information for non-profit research and educational purposes only. For further information please refer to: http://www.law.cornell.edu/uscode/17/107.shtml
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