The shock from yesterday's news is beginning to subside but the disappointment - and terrible sense of urgency - is not. The other students at my school have no idea what is going on, why it is important, or how it will affect them. Fortunately I am friends with many of the instructors there who I have found understand these events all too well.
The Department of the Treasury is selling bonds to (mostly foreign) investors to raise money for the Federal Reserve, not the other way around. They are proposing the release of over $600 billion dollars into the monetary supply to "help" the situation. The candidates of both of the Empire's corrupt political parties are calling for more of the legislative regulation and fiduciary prestidigitation that got us here rather than switching back to a specie currency economy that would make this fraud impossible. And the Americans are actually cheering their leadership and foresight!
Those who do understand will sadly recognize that Mr. Griffin's "Pessimistic Scenario" is unfolding before us. Now the Government is the owner of most of the financial systems debt obligations, including the mortgages of homeowners responsible and irresponsible alike. And the central banks of the international community are "coming to the rescue" with loans of their own - issued on their terms. Economic policy for the American Empire will now be set in places like Berlin and Beijing.
King George II has stated that "he will be continuing to monitor the situation and conferring with his economic advisers". Roughly translated, this means that he will continue to stare open-mouthed at his television set and wait for someone to tell him what to think about it.
Now is the critical time for loyal citizens of the Republic of Ohio to become their own economic advisers. Please let me again point to The Creature from Jeckyll Island by G. Edward Griffin as a book which no one should be without. (In the future days of the Ohio Republic I shall recommend that this book be required reading for high school students!!!) There is not much time left before the accumulated consequences of these trends become apparent in homes, businesses, and grocery stores everywhere....
2 comments:
I completely agree.
The bailouts on Wall Street are nothing more than a robbery of the people on Main Street to cushion the blow on Wall Street.
Has anyone ever noticed that the cycle of dependence that we broke with welfare reform in the 1990s is being repeated here?
We should have listened to Jefferson.
(note: I can't take credit for digging these up. Someone posted them on Jim Kunstler's blog):
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered." Thomas Jefferson, President of the United States 1801-1809
"I believe that banking institutions are more dangerous to our liberties than standing armies." Thomas Jefferson, 1816
And an interesting one by Woodrow Wilson (but not about finance):
"We have come to be one of the worst ruled, one of the most completely controlled and dominated, governments in the civilized world -- no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and the duress of small groups of dominant men..." Woodrow Wilson, President of the United States 1913-1921
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