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Big Banks and D.C. Politicians Doing the EXACT SAME THINGS Which Caused the Financial Crisis In the First Place
Liberals blame deregulation and reckless Wall Street greed for the economic crisis.
Conservatives blame bad government policy.
Now, the D.C. politicians are doing the exact same things which got us into
the crisis in the first place. For example, they are:
- Following policies which lead to rampant inequality (that didn't work out so well last time)
- Letting white collar criminals know that they have free rein to do whatever they want, and they won't be prosecuted (once again)
- Letting the giant banks get bigger and bigger (the government helped them get big in the first place)
- Bailing out the banks with hundreds of billions of dollars a year (which creates dangerous "moral hazard" - just like before the 2007 crisis - and once again destroys sovereign nations)
- Indeed, crony capitalism has gotten worse than ever (even though heroes have been fighting it for 100 years)
- Enacting policies which discourage people from even trying to find work(government employment policies have been bad for a long time)
- Enacting policies which suck money out of the U.S. economy ... and ship it abroad (as they've been doing for 50-plus years)
- Giving the Federal Reserve more power than ever (while a neutral government agency says that the Fed is riddled with corruption, and economists say the Fed caused many of our problems in the first place, and has too much power for the good of the economy)
- Blowing insanely large speculative bubbles (when they burst in 2007, that caused the last crisis; and see this)
- Leverage is back to pre-crash levels (too much leverage was one of the main causes of the crash)
- The humorously-labeled “financial reform” laws passed in the wake of the crisis have intentionally allowed fraudulent accounting; and here and here (deja vu all over again)
And the big banks and financial institutions are engaging in the same risky behavior which got us into the crisis in the first place. For example, they are:
- Taking insanely risky bets (see this, this and this) with the money that we deposit into our bank accounts. When some of their risky bets blow up, they will either look to the government - once again - for a bailout, or to our bank deposits
- Getting back into "synthetic" financial instruments - and here - which are even more disconnected from real assets than regular derivatives
- Once again doing no-document mortgage loans
What could possibly go wrong?
- advertisements -


The first dollar system went bust in the 1660s when the central bank printed too much money.
The US dollar is actually named after taht first currency of modern times to go bust: the Swedish "daler." The Swedes used copper as a currency back in the 1600s. The most common coin was the 10-daler. Unfortunately, it weighed about 43 pounds, but was worth about a months worth of labour for a skilled worker.
A guy named Palmstruch convinced the king it would be a good idea to set up a central bank. People could store their heavy copper coins with the bank and they would get nice pieces of paper to use instead (sound familiar???)
Unfortunately, Mr Palmstruch also started out the idea of relending the copper plates to others for collateral. When the collateral went bad and times got tough, Mr Palmstruck then hit on the idea of just printing more paper and solving the problem that way. This was in 1661 (once again - this may sound familiar....)
So, there was a run on the bank in 1663, it went bust and the king had to bail out the whole sorry mess. Palmstruch was convicted of fraud and sentenced to death, but his sentence was commuted and he died the next year.
So, boy and girls, the US dollar is named after the Sweidsh daler which was used by the first central bank which went bust when they printed too much money. Fortunately, that cannot happen this time because it is different now!!!
GW
The economy has also been misdirected and ruined by militarism.
Both major parties support it, both vote for it, and military-defined "national security" is used as excuse for the secretive and autocratic decision-making which is conducive to lies, graft, corruption, and associated dirty deeds, at home and abroad.
The economy has further been misdirected and ruined by the militarist-related so-called "war on drugs"(aka Prohibition II), for the lives it ruins, the corruption it engenders, and the nefarious alliances it promotes.
The military and financial corruption are entwined, and neither can be fully understood without reference to the other.
Absolutely ... I actually had that in, then deleted, cause it was getting too long.
Do you two trolls read anything before you post? Coincidence that these fucks sound exactly the same ?
new moneybots Fri, 04/05/2013 - 22:40 | 3415302
"Now, the D.C. politicians are doing the exact same things which got us into
the crisis in the first place.
Really? What legislation have conservatives passed since 2008 to deregulate financial markets further? Was Dodd-Frank a form of deregulation?
It's intellectually weak and inaccurate to blame "both sides" all the time.
Ever hear of the jobs bill? It deregulates financial reporting of start up companies, for one. How many conservatives voted for Dodd-Frank?
Both sides are gaming the American people and they are doing it all the time.
new random thoughts Fri, 04/05/2013 - 20:43 | 3414979
You start by blaming everyone:
Liberals blame deregulation and reckless Wall Street greed for the economic crisis.
Conservatives blame bad government policy.
Now, the D.C. politicians are doing the exact same things which got us into
the crisis in the first place.
Really? What legislation have conservatives passed since 2008 to deregulate financial markets further? Was Dodd-Frank a form of deregulation?
Second, if liberals were so unhappy with Wall Street greed, why isn't John Corzine in jail?
Third, why do you think that conservatives in any way condone or feel any philosophical sympathy for crony "capitalists"? Crony capitalists parlay regulatory capture and TBTF into billions. Regulatory capture and TBTF are not exactly what you'd get in a real capitalist economy.
It's intellectually weak and inaccurate to blame "both sides" all the time.
It's hard to keep it straight when they're changing aliases so fast.
You want to know the root cause of all this shit?
Go to the nearest fucking mirror.
1. Moronic Americans who can't tell the differernce between money and notes.
2. Whining Americans asking for more and more FREE shit.
3. Imbecile Americans voting for Democrats and Republicans instead of Ron Paul.
4. Stupid Americans that can't tell that the recently passed Military Defense Authorization Act has just taken away Habeas Corpus from them.
5. Bobus Americanus that have no idea what the Federal Reserve is or what it does.
6.TV brained Americans that seek entertainment from war.
WTF!!
Of course they are.
Why wouldn't they?
Not just Cloward-Piven,
but world-wide Cloward-Piven!!
http://en.wikipedia.org/wiki/The_Fire_Raisers_%28play%29
This dark comedy is set in a town that is being regularly attacked by arsonists. Disguised as door-to-door salesmen (hawkers), they talk their way into people's homes and settle down in the attic, where they set about the destruction of the house. Written in the years following World War II, as a metaphor for Nazism and fascism, the play shows how "normal" citizens can be taken in by evil.[3]
The central character, a businessman called Biedermann, is seen at the outset reading newspaper reports of arson, convinced that he could never be taken in. Within minutes, the first "hawker" has appeared (Schmitz), and through a combination of intimidation and persuasion he talks his way into spending the night in the attic. As the play unfolds, a second arsonist appears (Eisenring), and before Biedermann can do anything to stop it, his attic is piled high with oil drums full of petrol. He even helps them to measure the detonating fuse and gives them matches, refusing to believe the full horror of what is happening. He soon becomes an accomplice in his own downfall.
The action is observed by a Greek-style chorus of "firemen", and the increasingly surreal flavour culminates in a final scene, the afterpiece, where Biedermann and his wife Babette find themselves at the gates of Hell. Here they once again meet Schmitz and Eisenring who turn out to be Beelzebub and the Devil respectively, who, after becoming angered at the number of mass murderers being allowed to go to Heaven, refuses to conduct a Hell for a "small fry" like Biedermann.[4]
The name Biedermann is itself a play on the German word "bieder" meaning conventional, conservative, worthy, upright and is frequently used in a pejorative or ironic context. Thus the name equates to der biedere Mann or the worthy man.
http://www.youtube.com/watch?v=RLUhwGLJhsI
"check the door."
The greedy terrorists are never satisfied.
Suffering is good for business.
"Now, the D.C. politicians are doing the exact same things which got us into
the crisis in the first place.
Really? What legislation have conservatives passed since 2008 to deregulate financial markets further? Was Dodd-Frank a form of deregulation?
It's intellectually weak and inaccurate to blame "both sides" all the time.
Ever hear of the jobs bill? It deregulates financial reporting of start up companies, for one. How many conservatives voted for Dodd-Frank?
Both sides are gaming the American people and they are doing it all the time.
Junked.
See Notarocketscientist's reply.
The problem is not one of deregulating or reregulating... but of the lack of enforcement of long-existing regulations.. To this day there has been no meaningful prosecution of any perpetrators of financial fraud other than those who ripped off insiders (like Madoff). The regulations are toothless while SEC/Wall Street is incestuous.
The last meaningful anti-trust action was the breakup of AT&T. Since then monopolies, cartels and consolidators have run amuk.
moneybots are you serious?
Here's the biggest problems with sheeple, I mean americans:
The middle class have not figured out they they are the modern day house slaves
You know the fucking rule?
Anyone who plays partisan politics on here gets a HARD right hand to the face.
And the next time they get a fucking baseball bat to the back of the head
READ MY FUCKING LIPS - the Dems and GOP are the SAME. They exist only to create the illusion that you have choice. You have NO choice. The same fucks control both of them. Obama is a front man. Reagan was a front man. Clinton was a front man. Bush was a front man.
Now FUCK OFF with this shit - your pollution is not welcome
Concur. GOPS and DEMS are two sides of the same coin. Same in UK with Labour and Cons/LibLabs. Same in Canada with Lib and Cons and NDP.
Now Italy.... hmmmm. Wonder if we will see some changes now that a real comedian is in charge. I would vote for him ahead of most of what I seen now.
I junked you because your idiotic violent rhetoric distracts for the from the underlying truth of your statement.
the truth of his statement distracts me from the vitriol. anger rules
So what accounts for the difference in, lets say Texas overall business climate and California? Have friends in Cali. The 13% state income tax is by no means an illusion. The overall combined rates nearing 50% is no illusion. And the zero personal income rate in Texas is no illusion.
The gun manufacturing that will be fleeing the Northeast and Colorado is no illusion to those who will soon be moving or unemployed is certainly no illusion.
My local taxing body decided we needed city sewer instead of septic, wanted to charge us 14k/parcel to have it installed. I own 2 pieces of property. Would have cost me 28k w/threat of property seizure if we didn't comply. That's NO illusion either. And neither were 400 hostile pissed off property owners, who voted the fucking proposal down 10-1. You do have a choice. I could have sat in my house and ranted on ZH about the futility of fighting even local parasites. Wouldn't have done a bit of good. Sometimes you need to get off your blogging ass and put forth some effort to stop the local, state, and feds from smashing you down. The ones who need a bat to their head, are those that won't do anything but bitch and berate those that try and stop the levithan tax state as rubes. I'm equally as pissed at a Dem or Rep when they steal. But, this is the world in which we live.
assume you're in CA. we almost made the mistake a few years ago. oh lets get the neighbors together and upgrade to sewer. then i saw the cities FIVE year plan to raise sewer rates 100%. and what good is sewer if they restrict your water use? right now they're plugging in a functional desalinization plant. now that sounds great, until you consider the politics of water. right now we live off cheap agricultural water, that is farmers buy the water first and sell it back to us, and the farmers get a discount rate. water independence is like energy independence, it costs more money. right now half of our water bill is tax levies which have nothing to do with water. sewer billing is probably even worse. i hope some political group can straighten the mess out, and get the junk taxes off our water, sewer and telephone bills.
This is your brain on drugs.
Every hoochie momma in the ghetto knows the difference. What makes you uniquely stupid and prone to violence?
"Sides". Adorable. It's all the same conglomerate. And it's the same war that has raged across history, between the two oldest REAL sides.
The rich and the poor.
OR, Good vs. Evil!
Well of course, they're not contributing to much of anything that could make things look better than they are since they don't have the desired control of the government branches. If they did, they would be deregulating "out the wazoo" once again. So, just because it is not in their current best interest as the weak party, they don't deserve any less contempt for their reasons. Thus, it's much easier and accurate to just blame "both sides" as neither has the countries long term interests prioritized above their own.
I'm better protected by the market and its forces of supply and demand than I am by some bureaucrats. I don't care how well the intentions of these regulators may be (and it's well documented that most of these consequences deriving from their meddling in markets are not 'un'-intended), because they use force which violates free market capitalism and they themselves are not subject to competition. Analogous to healthcare, where the FDA would not exist in a free market, as rather demand would arise from people to have firms do the due diligence behind who are quacks and who is legit, and there would be many Yelps, Consumer Reports, etc. competing to earn customers' trust.
"Once again doing no-document mortgage loans"
I got one of those offers in the mail recently- explicitly stating that under an available stated income loan they would not verify income or financial information.
"Liberals blame deregulation and reckless Wall Street greed for the economic crisis.
Conservatives blame bad government policy."
That bad government policy was deregulation and lax regulation- such as the SEC giving leverage waivers to the investment banks, all of which crashed, some to be bailed out by more bad government policy under a conservative President.
A pattern emerges........and that pattern is never good for the average Joe's..........
The problem is not the banks, or the MIC, or even the phony politicians in DC.
The true heart of the problem is the media. Without their total control of the airwaves, the criminals could not get away with the mortgage fraud, bullshit wars, LIBOR, gold manipulation... none of it.
If we took back the airwaves... starting in just one small town, it could snowball.
GW here is posted on a thousand websites. GW, you could make a real difference if you were to highlight this simple fact- our public airwaves are the key.
For example, in Wisconsin two years ago, 100,000 people were in and around the state capitol. Camping out every night. There are 3 tv stations, all clustered together nicely 2-3 miles away... An hour march could have surrounded those stations, they could have scared the shit out of the news readers... and the Wisconsin public would have learned the whole truth.
But no, fake leaders Michael Moore and John Nichols were there to calm the crowd down... and tell them to wait for a recall election! those two fucking bastards are worse than rush limbaugh.
GW, straight up- are you another michael moore, another fake? If not, then prove it and create one of your great posts showing how the media is the root of the problem, and how the answer is to surround, then occupy the tv and radio stations.
If i may be so bold, it is the accounts and their disregard of general accounting rules, that is the dominate factor, rosta!
That's so true. It was said that the media was the people's prime weapon against corruption running amok but then they "DEREGULATED" the limitations of corporations to own and contol the primary sources of information for the people and "investigative" reporting went extinct for all things that weren't politically motivated to gain advantage in Washington. Now, we have the least informative news organizations in the world short of China and North Korea. I can't imagine how pathetically ignorant the world would be without the advancement of the Internet although they work hard to "poison the source" with as much disinformation as they can output against the credible sources which makes filtering a full time job that most people just won't endure when entertainment is the alternative option.
I've slammed the media in many hundreds of posts, and support real news organizations such as these guys.
And yes: Occupy the Media.
Excellent... could you point me to the post, where during the height of Occupy Wall St, you suggested we take back the public airwaves.
Did you notice how the media would always interview some dreadlocked hippy who would say something like, "We don't have any specifics, we're just mad in general."
I was interviewed, gave the reporter all kinds of specifics about the 'foreclosure crisis scamorama', and I was shocked, shocked i tell you when my quotes were not included in the piece... but they had several other quotes, "I don't know why we're here.. blah blah"
The Occupy Wall St. . org website was run by minders that deleted any comments suggesting we take the protest to the tv station... no we'll protest in the park.... New Years Eve... hey let's make flyers, DVDs, etc and go to Times Square.... no OWS 'leaders' voted to get beat up and arrested at the park where there were no tv cameras...
Your voice would have been greatly appreciated in helping to direct the protesters to think for themselves, to stop following the fake leaders that direct them to useless protests.
Looking forward to your next post, thank you.
re: taking back the public airwaves
I should have been more specific. Rockefeller Center is where a bunch the Sunday talk shows are, with politicians and talking heads galore... if OWS had taken the short walk to RC, they could have rattled the windows during the show... maybe even stormed the building (like the greeks did) ... at any rate, it'd be much harder for the tv cameras to ignore a crowd of 100,000 outside their studio.
Here's another idea... we could start a shame campaign for newsreaders everywhere.. whether it's Chris Matthews or Joe Smith from your local tv news... don't let them have a minute of peace, ever... hound them arriving at work, when they go out to dinner, etc... make their lives miserable and continue to do so until they speak the truth on air or quit.
... or we can take back all of the 'public' radio and tv stations... they're supposed to be by and for the public, but they have been taken over by your typical koch goons, minders, plants, and general greedy bastards. Real people everywhere can organize and run for the Board of Directors of their local station, then kick out all of the current management and return the airwaves to the people.
"Now that you're handcuffed to that chair, Mr Bond, I will tell you that I will soon control The Media. Then I will control the world! Ft Knox was a ruse you fell for."
"I'll get you, Goldfinger!"
Yep, corporate media in search of market share provides viewers with what they want to watch rather than what they need to watch, acting in the corporate interest rather than the public interest. Thus, we end up with a Honey Boo Boo on The Learning Channel.
The MSM has been politically biased for decades. That's the reason Barry was never vetted in 2008 and his public image is protected by the MSM at all costs. There's nothing he can do wrong, he's teflon. He's here to help you and stands outside of the washington mess as an outsider, not responsible for anything that's happening. The television News has been reduced to a source of cheap entertainment and political propaganda, there's no journalism. The main function of the state run media now is political perception control.
Dear OccupyTVstations:
There is an ouroboros of incorporated robbery. There is no final beginning, nor middle, nor end ... Sure, the mass media are now a handful of huge corporations, in debt to the banks. Sure, the mass media depend upon their corporate advertizers. Sure, there are revolving doors between governments and corporations, and the government perhaps is merely the biggest corporation? See http://cafr1.com/ ... Etc. ... However, there are no longer any small groups of human beings that can control things now. After there are automated computers doing most of the trading, and professional money managers making all the most important decisions, merely from running in their own packs, according to what they see on their computer screens, NOBODY is in control anymore, although we may yet abstractly refer to the transnational banksters, who collectively are a group of trillionaire mass murderers, which still have more control than anybody else, since their ancestors originally made and maintained the Anglo-American (Zionist) empire, even "they" have lost control of the systems that they had built, because those systems are getting too big and too complicated for them to be able to comprehend, and therefore, "they" can not control that anymore either.
However these problems began long before television existed!
President Theodore Roosevelt who died in 1919 was quoted in the March 27, 1922, edition of the New York Times with the following statement:
"These International bankers and Rockefeller-Standard Oil interests control the majority of newspapers and the columns of these newspapers to club into submission or drive out of public office officials who refuse to do the bidding of the powerful corrupt cliques which compose the invisible government."
The reason the New York Times ran this article, was due to the Mayor of New York, John Hylan, who had been reported in the same paper the previous day, March 26th, with the following statement:
"The warning of Theodore Roosevelt has much timeliness today, for the real menace of our republic is this invisible government which like a giant octopus sprawls its slimy length over city, state, and nation ... It seizes in its long and powerful tentacles our executive officers, our legislative bodies, our schools, our courts, our newspapers, and every agency created for the public protection ... To depart from mere generalizations, let me say that at the head of this octopus are the Rockefeller-Standard Oil interest and a small group of powerful banking houses generally referred to as international bankers. This little coterie of powerful international bankers virtually run the United States Government for their own selfish purposes. They practically control both parties, write political platforms, make cats paws of party leaders, use the leading men of private organizations, and resort to every device to place in nomination for high public office only such candidates as will be amenable to the dictates of corrupt big business ... these International Bankers and Rockefeller-Standard Oil interests control the majority of newspapers and magazines in this country."
For a long time, the school systems were also part of this problem that the international bankers, having unlimited funds, own and control the mainstream media. We also have to ask ourselves why we were not taught the truth about the Federal Reserve in school? Look at the testimony of Norman Dodd, head of the congressional committee that investigated the Rockefeller, Carnegie and Ford foundations. Similar things took place throughout every aspect of our society, for more than a Century, such as the history of how the "profit from disease systems" were able to take over control of medicine, etc.!!!
Speaking of the "holders of power," for another historical lesson in how much effort powerful interests put into dominating mass media and controlling public opinion, consider Congressman Oscar Callaway's report to Congress in 1917 on JP Morgan's master plan, which has been in effect since 1915:
"In March, 1915, the J.P. Morgan interests, the steel, shipbuilding, and power interest, and their subsidiary organizations, got together 12 men high up in the newspaper world and employed them to select the most influential newspapers in the United States and sufficient number of them to control generally the policy of the daily press. They found it was only necessary to purchase the control of 25 of the greatest papers. An agreement was reached. The policy of the papers was bought, to be paid for by the month, an editor was furnished for each paper to properly supervise and edit information regarding the questions of preparedness, militarism, financial policies, and other things of national and international nature considered vital to the interests of the purchasers."
Now consider why it is that so many of the most significant issues and problems facing American society are rarely, if ever, discussed on U.S. television!
Also, the foundations of "public relations" were laid long before television was invented. For instance, look into the work of Edward Bernays. Americans have been the victim of the best brainwashing that money could buy for a long, long time! Americans have been the target of the most scientifically advanced professional lying that there has ever been! Of course, the mass media, and especially television, have been perfecting that more and more!
(HOWEVER, I think it is silly to suggest that George Washington is some kind of "fake." As I have said before, I think he is an excellent surfer of the waves of news, who attempts to position himself to catch the biggest waves, just before they break into the mainstream. Of course, that has a price. However, it also has its rewards.)
Funny that you're quoting Teddy- sure it's a good quote, from a man than gave the banksters the FED. In 1912 the election was between incumbent Taft, Woodrow Wilson and populist Eugene Debs... who was truly a man of the people. He would have give the banker puppets a real run for the money... and if not winning, he would have made big headlines and shaped the dialogue... and then Teddy came back on the scene and threw his hat in the ring... and the media fawned all over him and pushed Debs aside... it was all an orchestrated scam... they've been doing the same bullshit for 100 years.
Minders come in all shapes and sizes, with different purposes...
I'm merely asking GW to stop preaching to the choir, and perhaps give the choir some direction that could lead to positive change. So many people say, "it's all going to collapse, we're so f*cked," and of course I see that pov.. but why do we have to wait for the collapse?
It doesn't have to end with the bankers winning... we could expose the 100yr fraud and arrest the bankers and their puppet politicians, who are not only in DC, but apparently in every state and city gov't as well. Why not try an envision a future where WE win?
http://www.youtube.com/watch?v=NuvUwYTQr-w "packed house" everytime he would speak. this man was no mere "humorist" either. today we would call him "edgy." Mayor Bloomberg would make sure "he and all the others like him would be treated as the terrorists they surely are." how ironic. http://www.enotes.com/shakespeare-quotes/lady-doth-protest-too-much-meth... the best we can do now is Zero Hedge. "truth has no voice...only an opinion." reality is to be denied...EVERYWHERE AND ALWAYS. yet the greater the fiction... http://www.youtube.com/results?search_query=batman+begins+full+movie&oq=...
"Instead of Changing their Behavior to Prevent Another Crisis, the Powers-That-Be Double Down On the Strategies that Caused the Financial Crisis In the First Place"
That would mean they have quadrupled down, as Greenspan had already doubled down on 1920's FED policy, which he said lead into the Great Depression.
Can anyone yhink of a single peice of legislation passed by Congress in the last 30 years that was for the benefit of the middele class?
Not me.
Rhode Island AG Kilmartin introduced 2013 -- H 5512 in the Rhode Island General Assembly. What it would do is take away the MERS Secret Electronic Mortgage Society's ability to operate in the state. Sure, we know MERS beats the check on recording fees. But more importantly it throws a blanket over the dark secrets of the "secondary market".
I'm going to do what I can to push this. Probably just spinning wheels here, but MERS' honcho Hultman graced the Rhode Island Corporations Committee with his presence; so you know he doesn't like it. If MERS gets knocked out in one state it could start an avalanche. GW, if you read this, I'm getting involved with some of the key players. I'd love to get a push on this thing.
Here's a link to (ad free) Hamlet with the audio from Hultman's bullshit and some vigorous rebuttals. There's also an attorney's pretty good youtube rant on MERS. That one guy has ~ 1000 lawsuits filed against the MERS in state and federal court.
RI General Assembly Press Release Anti MERS Bill Picks Up Steam 2013 S 0547
Below is a straight shot to 2013 -- H 5512 minus the color.
2013 -- H 5512
Here's the attorney going off on Hultman...sounds like they almost duked it out in the elevator after the hearing.
Law Dogs Weekly Video Blast - March 29, 2013
here's what happened in one of the best times for Banking in American history: http://www.fdic.gov/bank/historical/history/3_85.pdf i was in Rhode Island when this bank collapsed: http://www.clevelandfed.org/Research/Workpaper/1994/wp9411.pdf hmmm. interesting list of names doing the analysis. i was told years later when working for the Government that "banking collapses were a thing of the past"...but i always remembered that "weekend in Newport" when indeed "it wasn't." thank God we're on the Road to...Road to...Road to...RECOVERY! yes, yes..."recovery" it is....
Wow! I no longer live there but I grew up in RI and remember the RISDIC disaster well, thanks for that link. I'm going to read the whole thing.
RI has always been notoriously corrupt and I hope the Senate Bill above catches George's eye. I love yelling "Fuck You Bernanke!" as much as the next guy but we've got a shot at actually making something happen with this.
FWIW...I have eveything printed out and Monday I'll be Fedexing a ton of shit to the General Assembly. Hultman and his henchmen would not have made the trip to RI unless he was concerned that this may become law.
all of this is being papered over and will be for a long time to come. $40b/mth used to transfer bad mortgage paper from losers to the people. $45B/mth allows the gov to deficit spend while the fed buys the debt. net net $1T/year to paper over the problem, with no end date in site. and the people sit silently while it happens.
oligarches playin' "get what i can while i can get it" and f*** everyone else. these heads belong in baskets.
The people have it within their power to strip the Fed of its powers, rescind private credit and get the bankers to pay off the National Debt should Congress fail to act. The key to all this is 12 USC 411, which declares that Federal Reserve notes shall be redeemed in lawful money at any Federal Reserve bank. Lawful money is defined as all the coins, notes, bills, bonds and securities of the United States: 'Julliard v. Greenman' 110 U.S. 421, 448 (1884); whereas public money is the lawful money declared by Congress as a legal tender for debts (31 USC 5103); 524 F.2d 629 (1974). Anyone can present Federal Reserve notes to any Federal Reserve bank and demand redemption in public money -- i.e., legal tender United States notes and coins. A Federal Reserve note is a fixed obligation or evidence of indebtedness which pledges redemption (12 USC 411) in public money to the note holder. The Fed maintains a ready supply of United States notes in hundred dollar denominations for redemption purposes should it be required, and coins are available to satisfy claims for smaller amounts. However, should the general public decide to redeem large amounts of private credit for public money, a financial melt-down within the Fed would quickly occur. Convincing Congress to Abolish the Fed
http://www.silverbearcafe.com/private/convincing.html A Banksters defeatism (realization of defeat) nightmare, Being forced to Return to Real Money=United States Note=Lawful Money, Use the Remedy within the Federal Reserve Act. Redeemed 12USC411 – http://www.law.cornell.edu/uscode/text/12/411 Refusal Penalty 12USC501a – http://www.law.cornell.edu/uscode/text/12/501ahttp://savingtosuitorsclub.net/index.php Stop being a Slave!!!!!! This is Tax Free Money!!!!!! http://stormthunder.com/
random thought is dead on. Blaming everyone or splitting things down the middle does not allow one to recognize the problem and fix it.
You can only be manipulated by people with coercive power over you. By definition this is the government. The government may or may not loan this power to others, but they remain the sole fountain of coercion.
To fix the situation there is only **ONE** solution.
We must make the government smaller.
This is quite easily done. The House of Representatives can do it entirely on its own without any sign-off from BO or the senate.
Just no longer fund all the alphabet government agencies and return those responsibilities to the states.
Indeed, shut the government down, please...