During my commute I listen to NPR or AM Talk radio. Each day I read the news on the web, and watch t.v. news. There has been tons of hype and coverage on the proposed (propagandized) financial reform. Wallstreet and Big Banking are being villified by everyone with and 'R' or a 'D' after their name. We are being told how the Porn-addicted Masturbators at the SEC are now going to start doing their jobs instead of watching blowjobs. We are also asked to believe that our representatives in D.C. are capable of writing legislation that will somehow reign in the Money Magicians. Pres O would have us believe these banks caused the recent financial meltdown. Ben Benanke (google: Merrill Lynch merges with Bank of America) tells us how our huge debt is dangerous for America.
The thing that none of the folks ever mention is the Federal Reserves role in contracting and expanding the economy thru their manipulation of the interest rate (remember the Federal Reserve is not a government entity). The Fed's stated purpose is to bring stability to our economy, but it has only brought a constant series of boom & bust cycles. These recent bailouts were nothing new in America, and each time our politicians stand up, shake their fists, point their fingers, and vow to put an end to the reckless greed of Wallstreet and Big Banking. The TRILLIONS of dollars printed out of thin air for bailout purposes are backed by nothing of intrinsic value, but their repayment is guaranteed by the 'full faith and credit of the United States Gov't' - by the sweat of the u.s. taxpayer. The Fed loosened credit by keeping the interest rates low, commercial banks bought discounted money at the commercial window, then printed more, loaning it out to anybody for any purpose. Money got so "cheap" people without jobs, or visible means of support, were able to borrow money to buy homes and speculate with - just like the lead up to the Great Depression. Then, one day, it was time to contract the economy. Because all money in our fiat system is created out of debt, it is all owed back to the Fed... now that is a bit crazy and super-hard to wrap one's mind around. What I am saying is we are being lied to by everybody in D.C. Republicans and Democrats are screwing their constituents without a second thought. Our politicians love this system, because they can get all the money they want without having to go before the public with tax increases... instead you pay for these monies thru the hidden tax called 'inflation,' as well as the interest on the debt. The Federal Reserve loves this system, because it gives them unlimited power, and a perpetual never-ending flow of interest payments. It behooves no one, in any position of power, to do anything to change the way business is currently done.
Here are my questions: Where are the investigative reports on the history of taxpayer funded bailouts?... and where are the documentaries on the Federal Reserve and how money is created? Where is the public outrage over this government protected cartel that has been granted the right to print money and charge us for the use of it?
