http://video.google.com/videoplay?docid=5232639329002339531
I’m
watching the Treasury Inquisition on CNN and they are saying that the failure
of Bear Stearns would have gone BEYOND the borders of Wall Street.
The actions
were appropriate and necessary.
Well, I
sort of agree, it would have rippled (or tidal waved as your position may deem)
around the world and could have probably caused an international crash. That is because our money
is based on confidence, not gold. If confidence in large US hedge funds and
banks were diminished, the house of cards falls down. The Fed took steps to prop
up the cards.
I’m glad
they did. I’m really too busy with other things to
have a global financial meltdown. Maybe we can keep this Ponzi
scheme rolling until I’m dead. More
power to you guys. (except I have kids and despite the
fact they are teenagers, I am increasingly fond of them. This seems
patently unfair to them. But as I mentioned, they are teenagers and I'm sure in a week or two they will do something to make this punishment trivial.)
But the
very reason that we are having a global financial crisis is because the Federal
Reserve has printed money that we don’t have.
The Federal
Reserve is not actually a FEDERAL anything, but a partnership with government
and the largest banks in
53% of the
Federal Reserve is owned by 5 major banks in
Not even
the President of the
Only the
Treasury can create money, not the Federal Reserve.
Only
Congress can authorize payments from the Treasury, not the Federal Reserve.
RE: Bear
Stearns
The largest
banks in
They did
not get Congressional approval. – They probably would have gotten it, it is not
like it is hard to get Congress to spend money they don’t have, but they
certainly SHOULD have gotten it.
The
Government (in this case politicians) embrace an
invisible taxing body like the “Federal” reserve. The F Reserve controls money
policy (printing money) allowing politicians to pay off cronies and fund pork
without a tax increase. This allows them to get re-elected. By pushing the
“payment” off into the future, it is a form of taxation without representation.
Kids don’t vote.
Article 1
USC “No State shall make any Thing but gold and silver coin a Tender in
Payment”.
Ok, I
wasn’t really paying attention when Nixon took us off the gold standard in the
seventies. But that should have been challenged as well. I was 17 then,
protesters were in vogue during the late sixties and early seventies, but the
government was shooting
us if we protested too much. And let’s face it, protesting economics would have really been geeky. Free love and War protests were much more popular and had
enormous short term payoffs for our generation. (like we got chicks and we didn’t
die) Life was so much simpler then.
We’ve
been accepting that the Fed can print money since 1913, they just weren’t as flagrant as we have been
in the last 20 years. But that doesn’t make it right.
I mean how many of us dust off the Constitution and read it to put us to sleep
each night? I pretty much figured that there are enough watch dogs and enemies
of the state that someone would bubble this up on Nightline, CNN, The Nightly
Business Report, 60 minutes, or at least intellectual savants like Nancy Grace
or Geraldo. I’d even enjoy commentary from John Stewart or Steve Colbert.
Hmmm, I wonder if
these banks influence the media too? Until I did
just a modicum of research, I figured that anything this big would be exposed
in the media. I mean we had hearings on Iran Contra, Monica, Larry Craig’s toe
tapping in the Minnesota mens room, you would think
that a story like the “Foxes watching the Henhouse” would certainly be
newsworthy when it opens the door and allows foreign individuals and
corporations to gain access to our tax money. (remember
it is a secret club)
I wrote a
letter last night to every one of those Senators on the banking committee. As I
watch this circus through the filter of this perspective, they are just putting
on one of the most colossal red herring shows that I have ever seen. They are
all asking the wrong questions, and focusing attention on how involved the Fed
was in setting the price for Bear Stearns. Well, if you understand that the
“FED” is fundamentally the 5 major banks in NY and it is essentially a cartel,
well DUH! The question should be WHY do we even have a bail out, and how does
the Federal Reserve get to step in and bail out
with our money without congressional approval? By taking the approach of not
addressing the fundamental question, they give tacit approval to the Fed
continuing to take our money. (thereby
calming international markets, because if Besides, I
think that Bear Stearns was asked to participate in some of the Savings and
Loan stuff a few years ago by the Fed. They apparently declined to help at the time. Do you think that had anything
to do with them getting slashed and burned at the stake? It was Bear Stearns, the
biggest broker to hedge funds, that nine years ago declined to join 14 other investment banks
in the bailout of Long-Term Capital Management
LP. Then last month, as New York-based Bear
Stearns pleaded for help to rescue two of its hedge funds teetering on the
brink of collapse, many of the same firms refused to come to its aid. Payback is a bitch?
If you are planning on moving to Canada or Australia you probably don't want to bother complaining to them that you really prefer that the government steal your money in full view. I think this sneaky stealing of your money is really un-American. (except for the greed part.)
For those of you staying put, you can simply ask that they steal your money the old fashioned way:
http://patrick.net/housing/contrib/fed_steals_tax_money.html
Today I saw a pattern of answers designed to give me confidence that this is serious, but shielded me from the real truth. It seemed like a sugar coated turd. But then when you are getting your pockets picked for $29Billion, would you really expect a clumsy set of ill spoken crooks in stripes? No, we can command exceptional speakers that can speak "diffuse" for that kind of money. Listen to them with a critical ear and I think you may actually write a letter of inquiry to your congressman.