The Bailout of International Banks Continues...With No End in Sight

(M B, November 2008.)

This whole problem can be summarized thusly: “We have taken money from the people to give to the banks, so the banks can lend it back to the people. The only problem is the banks aren't lending.” Anyone else see more than one problem with this?

The bailout of international financial institutions continues, with or without legislation by the people (which, as a side note, would have required a Constitutional amendment in any case).

In one week alone the Federal Reserve pumped in $188 billion per day! That’s $240 billion more than the President, the Treasury or the Fed were asking the people for in a recently defeated bill. And Bloomberg is estimating that the total bailout will be at least $5 trillion, relegating $700 billion to a mere drop in the bucket and doubling the national debt in a few months time.

Which, by the way, if you’re in Adam Putnam’s district, he’s the only congressman in the Tampa area that voted for this perversion, and somehow, even though there is a furious public demanding no bailout, on the phone Putnam’s aid astoundingly said approximately 50% calling in were for and 50% were against. According the polls, the entire population of the US that was for the bailout, must live in Hillsborough and part of Polk County.

Immediately after $700 billion bailout was rejected by the House, the Federal Reserve promised to pump another $630 billion into the economy. Makes you wonder why we bother voting on anything.

The Federal Reserve is not federal, and it has doubtful reserves. It is a private institution with a monopoly on the issuance of currency that can do whatever it likes, which is why it has.

The resulting inflation will be disastrous to the poor, the aged and the entire middle-class, but it will be wonderful for the first-users of the new money, and it’s effect will not be immediate — and you won't need a 401k to feel the pinch when the dollar looses all value. For more info on inflation, see this article, which I recently sent out.

Then there’s this: “Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.” Unbelievable.

Whether you liked him as presidential candidate or not, he was exactly right on the coming dollar crisis and the root cause of it. Here in a rare admission, Helicopter Ben Bernanke agrees with Paul, that inflation IS A TAX.

This is NOT the America I was taught we live in. Home of the free? Land of the brave?

It’s funny how this has been going on for so long and we’re only now realizing it. It reminds me of what a man said, thousands of years ago, who saw our day and predicted what's been going on for nearly a century, and that we're, only now, beginning to wake up to.

“For he saith, By the strength of my hand I have done it, and by my wisdom; for I am prudent: and I have removed the bounds of the people, and have robbed their treasures, and I have put down the inhabitants like a valiant man: And my hand hath found as a nest the riches of the people: and as one gathereth eggs that are left, have I gathered all the earth; and there was none that moved the wing, or opened the mouth, or peeped.” (Isaiah 10:13-14.)

I think it's time to realize that over the last few generations we have lost all control over any branch of government. Congress is a helpless, spineless, self-seeking rubber-stamp which has made the Judiciary and the Executive completely unaccountable.

For my LDS friends, who remember the prophecy of Joseph Smith about the Elders of Israel stepping forth to save the Constitution at a critical time, there is another version that includes the conditional “if the constitution be saved at all” which I am starting to think is the more accurate version.

10/2008 CorbettReport: 700 billion is nothing.

10/2008 Jim Rogers: Global Bankers Have Unleashed Inflationary Holocaust

10/2008 Rep. Brad Sherman: Congress was threatened with martial law in private meetings if they did not pass banker bailout.

10/2008 Rep. Burgess: “I understand we are under martial law as declared by the speaker last night.”

10/2008 A Crash Course in U.S. Concentration Camps and Martial Law

11/2008 Private Fed bank refuses to identify 2 trillion in bank loans.

3/2009 Federal pension insurance agency fed tax-payer funds into derivatives black hole months before implosion; refuses to release details. See also: Pension bombs going off and California Pension Funds Close To Bankruptcy.