Posted by
Chuck Rickard on Sunday, September 21, 2008 1:12:50 PM
We're screwed. Do you get it yet? The line between the public and
private sector was just indelibly blurred. Just as Chavez has been
nationalizing the private sector in Venezuela, and Rep. Maxine Waters
proposed for the oil industry, the government is now in the financial
business up to its collective necks. Who knows, maybe the oil
companies will be next.
Read this carefully: They have just sold our great-grandchildren's birthrights.
Just
as I've said before many times, the government has no business being in
anything other than the military protection business; certainly not in
the market speculation game. Interestingly enough they blame
speculators and short sellers, LOL. Understand this: most of the
markets are made up of... ta-dah... us, our savings, pensions, etc.
and they will work if not messed with by crooks in and out of
government.
Add it up: $200+ Billion for Fannie & Freddie
(with no guarantees), $80+ Billion for AIG (with 79.9% ownership), $700 Billion (and probably hundreds of billions more) for a new
version of Ponzi Scheme called the National Resolution Trust. I believe
it might be made a cabinet level department. I really hope they are not
that addled.
As I wrote last week, we will be bailing out the Big
Three automakers, and next the Airlines. Why not, they're in trouble
too? We're all in trouble; send each of us a $100,000 bailout. BTW, that
is a proposal (though not that much money) from the Obama camp, which
shows their total ignorance of economics.
Where did they get all
of this money, suddenly........? They didn't. The Fed (again a private
company made up of bankers with superhuman powers) can create money out
of nothing and lend it to the government (at a small interest rate).
And then the government can give it back to them to do all of this
mischief. Sounds a lot like money laundering, doesn't it?
Just
the known totals above will add an immediate 8% to the national debt,
and all of that money creation will inevitably fuel a huge round of
inflation. Today that dollar bill you had in your pocket yesterday is worth 92 cents.
Why did they do it? Very simply, it is to bail out all
of their crooked friends in those arenas that destroyed the companies
involved and made off with untold fortunes. As I said before: Fed -
Financiers - Government (Paulson & cohorts), the unholy triumvirate.
Why
hasn't anyone tried to stop them before? They were paid billions of
dollars to look the other way, that's why. Most of capital hill got a cut, some
more than others.
Why haven't the candidates said much, because in
one way or another they are an intricate part of the problem. In less
than three years Sen. Obama became the 2nd largest recipient
of the largess and has two of the Fannie & Freddie boys on his
staff. Sen. McCain brags of his attempts to stop this years ago, but
they were impotent and futile. They should both resign from the race
and have another primary.
Sect. Paulson should be fired and
possibly indicted for conflict of interest, and the leaders of both
parties in the Senate and Congress should be impeached, along with the
President: and Pres. Clinton and his cohorts should be indicted as well
for their hand in this.
Mark my words, after the euphoria of this
drug injection into the market has worn off and the DT's set in, watch
out! There might not be a bottom to it all.
The remarkable
arrogance of it all is that they have the gall to say, "We had to do it
to save the economy and the well-being of the average citizen." That is
100%, unadulterated BS. They have just set into motion the American
Financial "End Times", even if it takes years to reach fruition.
I sincerely hope I am wrong, and I will
gladly eat the paper on which this was originally written if it is. I
DO NOT want to be correct here.
Buy Gold and do your stretching exercises so you can bend over and kisses your butts good-bye.
Chuck Rickard
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