Now about the Fannie Mae & Freddie Mac Scam -
So tell me again – who caused our Economic Crisis?
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The housing bubble and bust and all the government intervention that contributed to it are important but really peanuts compared to the overall crisis we face. At the top, ultimately, the Federal Reserve caused this financial crisis and every one before it. I hope some of you will take the time and energy to look beyond the rhetoric and see what the real deal is.
“The most significant argument against the Fed, though, is not political but economic. The Austrian view is that a central bank is not merely unnecessary but harmful. There is no need for a monopoly institution, by means of artificial money creation, to prevent the natural and healthy phenomenon of falling prices. There is likewise no need for a “lender of last resort” for the banking industry any more than for the personal computer industry or the shellfish industry. As long as the banking system is run on sound principles—an unlikely outcome, while there is a central bank with powers to prop up unsound banks—there is no reason for the bankruptcy of one or two major banks to provoke a systemic crisis, as can happen under the Fed system.
Then there are the problems that stem from artificial money creation. Not only do people on fixed incomes suffer from the rising prices that increases in the money supply bring about, but the process of money creation inevitably enriches politically well-connected groups at the expense of everyone else. The powerful are in a position to receive the newly created money first and spend it before prices have commensurately risen. Still other problems are discussed in the major Austrian treatments of money, including Mises’s Human Action and Murray Rothbard’s The Case Against the Fed.”
cont. here:
http://www.amconmag.com/article/2009/feb/09/00016/
I wrote about what a scam the FED is in a previous article but ‘m not sure if anyone read it.
http://parkercountyblog.com/2009/08/09/the-greatest-scam/
There was a 3 1/2 hour Congressional hearing on HR 1207, the bill to audit the FED, the other day that was a long-awaited and historic event for those of us that know the true evil of this institution.
Lets talk about the real collapse of every sound institutions, that Americans once depended and believed in. The war on the middle class was not spun by Democrats. It was begun by greed in deregulation which began in Texas, and spread to the whole country under the Bush White House.
The lies that led to attacking a country that never attacked us, (Iraq) and the prefrabication of Alquida being there, began the unraveling of what America once stood for.
Corporate tax incentives, and the tax cuts for the elite,began the slide of our econemy. The working class and our industral base began to fail, and before long, the Banks, and Insurance,and financial institutions unregulated, raped Americans from coast to coast. Lets not blame organizations that represented the minorities and poor, for our woes today. It began with the total corruption of the Bush Administration.
Mr. Yeary,
I am inclined to believe that after reading Kerri Rehmeyer’s comment above, then your comment, you come across as one who must have recently emerged from a long deep coma! Rehmeyer’s commentary is articulate and verifiable. You unfortunately, ramble almost incoherently.
It is difficult to determine if you are a simple verbal manure spreader, or if reality has escaped your grasp. Say what you will – it’s your right, but if you desire to be perceived as credible, please substantiate your accusations.
I do not have to date every violation of our Constitution, we have seen happen from 2000 thru 2008. Don’t forget, under the Clintion Administration, America had the largest monitary surplus. That was wiped out soon under Bush, along with many civil rights and liberties. All the policies and deregulations came back to roost in 2008.
You may call my sentences manure, thats your right, but look at all President Obama has been left with !!!
The truth is, your attitude of greed and and unconcern for most Americans, is all you have left to spew.
I repeat …”if you desire to be perceived as credible, please substantiate your accusations.”
When all Darwin has is talking points from DailyKos and Democratic Underground, he will have nothing in the realm of substantiation to offer.
Well this is typical…keep yourselves busy arguing over whether it was the democrats or the republicans fault and call each other names. This is exactly what was intended. Divide and conquer. You are easier to control that way. Those at the top aren’t democrats or republicans, they’re globalists. Obama, Bush, Clinton, and many before are just puppets carrying out a predetermined agenda.
Charles A. Lindbergh, Congressman (1907-1917)
“This [Federal Reserve Act] is the strangest, most dangerous advantage ever placed in the hands of a special privilege class by any Government that ever existed. The system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people’s money. They know in advance when to create panics to their advantage, They also know when to stop panic.”
I believe what you are saying about the Federal Reserve. They need to be audited, and possibly be ruled illegal, and no longer in power. Continual monitering of Wall Street also needs to be happening. Justice needs to be served on those whose greed and illegal behavior has wrecked the lives of millions of people. Credit Card companies have also abused the credit usery on Americans. Financial institutions, claiming to big to fail, and Drug Corporations and Insurance Cartels, also needs to be held accountable for the dire circumstances that left Americans holding an empty bag, sick, and homeless. CEOs and their dirivatives authors, need to be on trial.
If you or me are caught stealing a candy bar, we could possibly go to jail. Yet over the larger part of the last 25 years, those white collar crimes go unfettered. President Reagan cut off Social Security Disability benefits in 1982, resulting in many suicides. Reagan also quoted, as he stated “He was turning the Bulls loose for Wall Street!” This outrageous deregulation has reeked havoc on the common American and investor.
Granted Democrats have not done all they could to rectify violations of the Constitution, but just
look at all there is to change in only 11 months in office? Under the Clintion Administration, Republicans controlled Congress! Certainly now, we need leaders like Dennis Kucinish and Ron Paul, more than ever before.