$700 Billion Bailout

I listened to the last hour of Treasury Secretary Henry Paulson Jr and Federal Reserve Chairman Ben Bernanke who appeared before the Senate Banking Committee today on Capitol Hill. During that hour, my favorite unanswered questions is "why do we have to give you all $700 billion now?" Committee members suggested financing some of the bailout and seeing how it goes. Never answering the original question, Paulson/Bernanke responded that they need it all now and made it clear that they don't want to be regulated. Most appallingly, they also do not want a plan that would provide taxpayers with a payout on their investment. It will be interesting to see where this goes. I have heard suggestions that this is the first step on a big scheme to restructure government, not only in this country, but with far-reaching global impacts.  Would love to hear other's thoughts.

Check out Kucinich's article Protecting the Public Interest in any Economic Bailout  at

http://kucinich.us/index.php

Thanks for bringing this to the "light".

Tricia

SarahT's picture

Thanks Tricia for the link! I read it and was very impressed! These were some of the things I was thinking would help.  This really has my attention!

ChrisBowers's picture

Read Whitehorse's latest forum post

http://portal.transformationteam.net/forums/4334

for an intriguing answer to at least part of your question about restructuring. When those who use the term "earth changes" think only of global warming, they leave so much on the table in light of what is actually happening right now in and on Gaia who is almost done moving into 4th density. Some amazing times lie ahead of us so stay frosty and full of hope and joy for you have every reason to, I promise.

As for Bernanke and Hank Paulson, did you know that Paulson used to be one of the big wigs over at Goldman Sachs??? The ongoing revolving door between Wall Street and high places in government continue to make my head spin, but nothing new there, huh.

You wanna know how we know when they are lying?

Their lips are moving, haaaaahahahahaha

Love/Light, Chris

maryc's picture

Dear Tricia,

Thanks for the link! Dennis was my first choice for president the last 2 elections. He speaks truth. I thank you Sarah for posting this question. I set my  heart on things being made right....things haven't been right in finance for too long.

Love,Mary

lightwins's picture

Reporter Warns Staged Financial Crisis Part Of Fascist
Coup

denisestgermain's picture

I see a relationship with the present financial crisis coup in the USA and the precipitated declaration of elections in Canada which were decided for Oct. 14th 2008 (were only due for november 2009)

Prime minister Harper is not even hiding that his decision is related to financial crisis but what he is not saying  is that this election in Canada was ordered from Washington. Harper did not have a majority government before and is going in a rushed election to get a majority. Harper has all the characteristics of an extreme right "dictator", talking about law enforcement, security, army, jails (proposed law to emprison 14 years old criminal delinquents) being  against abortion, cultural development, protection of environment.

The change is going very fast, the opposition is awaked but divised, however in  the two coming weeks we could see more and more people awakening. Hope there will be enough.

 

May the light prevail.

 

Denise 

 

SarahT's picture

Interesting. Thank you for the enlightenment, Denise.

lefty-dave's picture

www.leftydave.com

Greetings Transformation Team,

 I traded stocks, options, bonds, etc for well over ten years ...and the first thing I was taught was this.. " a free market corrects itself"  (Fannie/Freddie Mae nationalized just punished the innocent...and rewarded the guilty !!!)

 

SIT TIGHT AMERICA   !!!!

The sky isn't falling !!! Capitalism is a self-regulating system....things will straighten themselves out !!!

You have to let every idiot responsible for this mess....real estate flippers....lenders...wall streets hotshots with their new investment vehicles....irresponsible consumers...mortgage bundlers...they must be made to live with the consequences of their actions !!!  A bailout isn't capitalism...it's fascism....is that what you want ???

 

SIT TIGHT AMERICA  !!!

 

Blessings to all

 

lefty-dave

ChrisBowers's picture

Go to the Security and Prosperity Partnership website and see what has been in the planning since the late 90's

http://www.spp.gov/

Love/Light, Chris

October 14th??? hmmmmm

Berry's picture

I received this wise commentary from Representative Ron Paul tonight which I think deserves to be read. Unfortunately his advise has been dis-regarded as usual but he puts some very bright light on the situation. No further comments from me. Let him speak for himself.

L&L

Berry

 

****************************************************************************************

Dear Friends:

The financial meltdown the economists of the Austrian School predicted has arrived.

We are in this crisis because of an excess of artificially created credit at the hands of the Federal Reserve System. The solution being proposed? More artificial credit by the Federal Reserve. No liquidation of bad debt and malinvestment is to be allowed. By doing more of the same, we will only continue and intensify the distortions in our economy - all the capital misallocation, all the malinvestment - and prevent the market's attempt to re-establish rational pricing of houses and other assets.

Last night the president addressed the nation about the financial crisis. There is no point in going through his remarks line by line, since I'd only be repeating what I've been saying over and over - not just for the past several days, but for years and even decades.

Still, at least a few observations are necessary.

The president assures us that his administration "is working with Congress to address the root cause behind much of the instability in our markets." Care to take a guess at whether the Federal Reserve and its money creation spree were even mentioned?

We are told that "low interest rates" led to excessive borrowing, but we are not told how these low interest rates came about. They were a deliberate policy of the Federal Reserve. As always, artificially low interest rates distort the market. Entrepreneurs engage in malinvestments - investments that do not make sense in light of current resource availability, that occur in more temporally remote stages of the capital structure than the pattern of consumer demand can support, and that would not have been made at all if the interest rate had been permitted to tell the truth instead of being toyed with by the Fed.

Not a word about any of that, of course, because Americans might then discover how the great wise men in Washington caused this great debacle. Better to keep scapegoating the mortgage industry or "wildcat capitalism" (as if we actually have a pure free market!).

Speaking about Fannie Mae and Freddie Mac, the president said: "Because these companies were chartered by Congress, many believed they were guaranteed by the federal government. This allowed them to borrow enormous sums of money, fuel the market for questionable investments, and put our financial system at risk."

Doesn't that prove the foolishness of chartering Fannie and Freddie in the first place? Doesn't that suggest that maybe, just maybe, government may have contributed to this mess? And of course, by bailing out Fannie and Freddie, hasn't the federal government shown that the "many" who "believed they were guaranteed by the federal government" were in fact correct?

Then come the scare tactics. If we don't give dictatorial powers to the Treasury Secretary "the stock market would drop even more, which would reduce the value of your retirement account. The value of your home could plummet." Left unsaid, naturally, is that with the bailout and all the money and credit that must be produced out of thin air to fund it, the value of your retirement account will drop anyway, because the value of the dollar will suffer a precipitous decline. As for home prices, they are obviously much too high, and supply and demand cannot equilibrate if government insists on propping them up.

It's the same destructive strategy that government tried during the Great Depression: prop up prices at all costs. The Depression went on for over a decade. On the other hand, when liquidation was allowed to occur in the equally devastating downturn of 1921, the economy recovered within less than a year.

The president also tells us that Senators McCain and Obama will join him at the White House today in order to figure out how to get the bipartisan bailout passed. The two senators would do their country much more good if they stayed on the campaign trail debating who the bigger celebrity is, or whatever it is that occupies their attention these days.

F.A. Hayek won the Nobel Prize for showing how central banks' manipulation of interest rates creates the boom-bust cycle with which we are sadly familiar. In 1932, in the depths of the Great Depression, he described the foolish policies being pursued in his day - and which are being proposed, just as destructively, in our own:

Instead of furthering the inevitable liquidation of the maladjustments brought about by the boom during the last three years, all conceivable means have been used to prevent that readjustment from taking place; and one of these means, which has been repeatedly tried though without success, from the earliest to the most recent stages of depression, has been this deliberate policy of credit expansion.

To combat the depression by a forced credit expansion is to attempt to cure the evil by the very means which brought it about; because we are suffering from a misdirection of production, we want to create further misdirection - a procedure that can only lead to a much more severe crisis as soon as the credit expansion comes to an end... It is probably to this experiment, together with the attempts to prevent liquidation once the crisis had come, that we owe the exceptional severity and duration of the depression.

The only thing we learn from history, I am afraid, is that we do not learn from history.

The very people who have spent the past several years assuring us that the economy is fundamentally sound, and who themselves foolishly cheered the extension of all these novel kinds of mortgages, are the ones who now claim to be the experts who will restore prosperity! Just how spectacularly wrong, how utterly without a clue, does someone have to be before his expert status is called into question?

Oh, and did you notice that the bailout is now being called a "rescue plan"? I guess "bailout" wasn't sitting too well with the American people.

The very people who with somber faces tell us of their deep concern for the spread of democracy around the world are the ones most insistent on forcing a bill through Congress that the American people overwhelmingly oppose. The very fact that some of you seem to think you're supposed to have a voice in all this actually seems to annoy them.

I continue to urge you to contact your representatives and give them a piece of your mind. I myself am doing everything I can to promote the correct point of view on the crisis. Be sure also to educate yourselves on these subjects - the Campaign for Liberty blog is an excellent place to start. Read the posts, ask questions in the comment section, and learn.

H.G. Wells once said that civilization was in a race between education and catastrophe. Let us learn the truth and spread it as far and wide as our circumstances allow. For the truth is the greatest weapon we have.

In liberty,

Ron Paul

Bob07's picture

I just wanted to pick up on and emphasize lightwins' brief mention (above) of an article that deserves a thoughtful reading.  In this article, Larisa Alexandrovna, a Huffinton Post reporter, argues that the whole financial mess was engineered to clinch
the consolidation of power in the hands of the global financial elite.  If a frightened Congress passes it, the new
Bush "Wall-St. Bailout Bill" pretty much will put the lock on the door.

The first big shock they perpetrated was the 9/11 attacks.  Now this one, but this one has international reach because of the worldwide financial system.  In the article (or it may be in the second of the two linked below) we read that foreign finance ministers are applauding this new what amounts to fascist-enabling legislation, and Treasury Secretary Paulson is recommending that they do the same abroad.  (A possible experience of global fascism was, I believe, indicated in the Law of One material -- for our contemplation of a choice between freedom and a lack of.)

For whoever is interested, the original article by Alexandrovna can be found at

http://www.huffingtonpost.com/larisa-alexandrovna/welcome-to-the-final-stag_b_127990.html

But for more scope on this same topic, I recommend another article that can be found at

http://www.infowars.net/articles/September2008/220908Reporter.htm

Even though Congress may well be pressured and cowed by the neo-cons into passing this abominable legislation, it's still worth our trouble to warn our Congressional non-representatives not to pass it.

Take care,

Bob

lefty-dave's picture

www.leftydave.com

Greetings

 

Way to go Berry,    HERE   HERE   !!! 

 

l-d

ChrisBowers's picture

As we continue to read and study all that is going on, remember that your paying very close attention to the gloom and doom scenario they are purposefully perpetrating upon the masses serves their ongoing agenda.  You are correct Bob when you say that Ra mentions this scenario as one of the primary possibilities in the vortices of possibilities/probabilities swirling around in these times.  Ra spoke of the opportunities this type of police state/detention camp scenario would afford people for inner seeking and growth, a growth that must come sometime, regardless of the catalyst.

We do very well to balance our studies of what is happening in this world of 3rd density illusion catalyst with the necessary meditation and study of that inner seeking - or we can just wait until we have more time in the concentration camp we end up in during all of the turmoil, LOL.....

Integrating the core truths of the Law of One will still be the order of the day long after all of this transient catalyst has run its course, whether it is garnered from the Ra sessions, or talking to nature, or meditation for inner seeking, or an infinite myriad of stimulating sources that get us to do the real work of discovering who we really are.

All the rest is white noise and catalyst for learning/growing/evolving to higher realms.  We do well to balance our research and study of both.  If you are not meditating and looking inward for that understanding of that which never changes, then they have you right where they want you, fully immersed in the doom and gloom scenario designed to control the masses like so many deer in the headlights of their game plan.  Sorry man, we don't win by conquering them - we win by conquering ourselves in an ultimate act of surrender to what is really real.

All else is white noise to stimulate the white mice in the lab....

Love/Light, Chris

Bob07's picture

Yes, you're right about the balance, and it's good that you bring it up. That's the one big thing I took away from the TT course. I also learned it firsthand before that, in a negative way; after I understood about 9/11 I embarked on a 3-year campaign to study the NWO thing and alert as many people as I could.  Result: a lot of people got the picture, but because of the stress of it all I found myself on the fast track to the Bardo.  So, I backed off and increased my inner work focus.  I realized that a new world will be built primarily by people living in a new way.

The take on the entire financial crisis as being another 9/11, however, was something I hadn't considered before, and so I presented it as another possible piece in the puzzle of what's going on today.  I find that fascinating and useful -- and empowering because the more I know the less I can be fooled.  But, yes, to be depressed by all the NWO stuff and to dwell on it is feeding it.  I certainly don't wish to do that or to encourage anyone else to.  But neither do I want to become, in G.I. Gurdjieff's terms, a "stupid saint."  I'd much rather keep my eye on the major bounces of the ball.  The little bounces I don't care about (they're overload.  That's why I rarely listen to/watch the media news.)

But... now it's time to shut down the computer and tend to some of that "inner" stuff.  I'm cooked on "outer" stuff for today.

Take care and the best to you,

B.

ChrisBowers's picture

you said,

"The take on the entire financial crisis as being another 9/11, however,
was something I hadn't considered before, and so I presented it as
another possible piece in the puzzle of what's going on today"

I couldn't agree more!  I too think this is another staged event and pretext to something planned.  these guys don't take a dump without drawing up a gameplan.  There is also the ongoing weather wars between several nations of the world with the technology to participate, primarily Russia, Japan, China and the US.  Russia is top dog with their Scalar Wave Technology that provides pinpoint direction capabilities and is responsible for much of the adverse weather we have experienced over the past several years, the adverse weather that is being blamed on "global climate change".

And just this noontime on this Friday, September 26, 2008, for the first time ever seen (by me anyway) in the Spokane area, a very large and very blatant array of chemtrails crosshatched across the sky directly above Spokane and Spokane Valley.  It soon turned to a blanket haze that caused an eerie sunlight color.  Somethings up!!!  Balance is Key!!!!

Love/Light, Chris

NormaDeLara's picture

Hi Denise

I just saw an article published today that might interest you, it's about an agreement (some time ago) creating a North American military with Canada. Here is the link:

www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=57228

Yes, may the light prevail.

Norma

 

lightwins's picture
SarahT's picture

The recent events seem like a part of a larger plan. But my sense is that being aware of the plans and talking about them is positive as long as you don't get caught up in fear.  I agree that the general public would start to panic, without greater knowledge. But the key is to educate without causing some sort of fear reaction.

 

The US is so caught up in consumption that it wouldn't me to learn to live more simply. I can only speak for the US, but I suspect we are not the only ones.

 

Chris - by the way I am still chucking over your lips moving comment. And I too saw an odd haze take over Seattle. At first the day was very clear. Then suddenly a haze blanketed the area. I assumed the weird light was from the angle of the sun. But I am unfortunately uneducated about chemtrails. Interesting...

Shaun75's picture

(^_*)

We need NESARA

 

untill then...

 

H.R. 2755: Federal Reserve Board Abolition Act

To abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes.

http://www.govtrack.us/congress/bill.xpd?bill=h110-2755

 

take action here..

http://capwiz.com/jbs/home/ActionAlerts-Intros/?_p_preview=L%20site%20and%20send%20the%20letters%20now.

 

much love to you all:)

namaste

onesong's picture

this may be a bit on the lighter side, but if I could vote this one through it sounds more 'sound' than anything I've heard from Washington!!!  from a blog regarding no bail out, i'm sorry i do not have the source to share, but imo quite brilliant. Smile

I'm in favor of giving $85,000,000,000 to America in a We Deserve It Dividend.

To make the math simple, let's assume there are 200,000,000 bonafide U.S. Citizens 18+.

Our population is about 301,000,000 +- counting every man, woman and child. So 200,000,000 might be a fair stab at adults 18 and up..

So divide 200 million adults 18+ into $85 billon that equals $425,000.00.

My plan is to give $425,0 00 to every person 18+ as a We Deserve It Dividend.

Of course, it would NOT be tax free. So let's assume a tax rate of 30%.

Every individual 18+ has to pay $127,500.00 in taxes. That sends $25,500,000,000 right back to Uncle Sam.

But it means that every adult 18+ has $297,500.00 in their pocket. A husband and wife has $595,000.00.

What would you do with $297,500.00 to $595,000.00 in your family?
Pay off your mortgage – housing crisis solved.
Repay college loans – what a great boost to new grads
Put away money for college – it'll be there
Save in a bank – create money to loan to entrepreneurs.
Buy a new car – create jobs
Invest in the market – capital drives growth
Pay for your parent's medical insurance – health care improves
Enable Deadbeat Dads to come clean – or else

Remember this is for every adult U S Citizen 18+ including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. And of course, for those serving in our Armed Forces.

If we're going to re-distribute wealth let's really do it...instead of trickling out a puny $1000.00 ( "vote buy" ) economic incentive that is being proposed by one of our candidates for President.

If we're going to do an $85 billion bailout, let's bail out every adult U S Citizen 18+!

As for AIG – liquidate it.
Sell off its parts.
Let American General go back to being American General.
Sell off the real estate.
Let the private sector bargain hunters cut it up and clean it up.

Here's my rationale. We deserve it and AIG doesn't.

Sure it's a crazy idea that can "never work."

But can you imagine the Coast-To-Coast Block Party!

How do you spell Economic Boom?

I trust my fellow adult Americans to know how to use the $85 Billion We Deserve It Dividend more than I do the geniuses at AIG or in Washington DC .

And remember, The Family plan only really costs $59.5 Billion because $25.5 Billion is returned
instantly in taxes to Uncle Sam.

onesong's picture

time to walk the walk -

In God (Father-Mother-Son-Holy Spirit-Infinite Creator- I presume not to even begin to know the Beauty and Wisdom of Your Most Holy name or infinite Power) We Trust-     

We invoke Light into the halls and hearts of all Earth's representatives  regardless of race, religion, color or creed, not in some distant future, we invoke it HERE and NOW.

We the People call forth the deepest wisdom and the highest compassion from the heart and soul of America (and all lands near and far), for the benefit of the entire Earth community and the next seven generations.

May Wisdom Prevail in the USA and among leaders and decision makers everywhere. May Peace prevail on Earth.

 

Please join me in breathing even more sacred love to those who have not yet realized our Oneness and our collective karma as these and all such decisions are being made.

Peace, Peace, Peace                                kristyne

--- Post removed at author's request ---

Bob07's picture

Dear ffg,

I agree with you.  The monetary system has to fall apart at some point.  And the "Rules" you mentioned do operate -- sometimes over the long run.  Our intentions are powerful.  At the same time, here we are living and doing on the "solid" earth, with the power of speech and with hands and feet.  We can implement our intentions to some extent.  I don't believe we are expected to do nothing, and allow thieves to walk off with that which supports our lives and ensures our freedom.  Jesus did throw the moneychangers out of the temple.  He also advised being as gentle as lambs but as wise as serpents.  (I may have the exact quote wrong.)  It seems as if there's a time for being still and a time for action.  I believe this is a time for action.  But I also agree that the "Universal Rules" are in effect and we would do well to remember them.  It's not an either-or thing.

Take care,

Bob

ChrisBowers's picture

Thanks Elizabeth!!!!

I was turning blue from waiting for something resembling what we shall sorely need, most likely, very shortly!

Knowledge of why the house of cards is tumbling will do us little good right now (although I, like most of you, will be paying close attention).  It is just too late to save a corrupt system that we really do not want to save!  This is a 5 alarm fire and the roof just gave way.  Let it burn and prepare yourself for holding your Love and Light inside you dear and very close to your heart because you will be, very possibly anyway, sorely tempted to justify some other more negative /regretable emotions during the coming times in these smoldering ashes of our collective consumerism contempt for the so obvious writing on the wall that began, really, with Nixon, and went on steriods with Reagan-omics.

Discussing the details of the fire now is akin to pilfering through the desperate glowing ashes of the fire because they look so "dog gone" interesting.  This needed to happen in a system gone this ridiculously ponzi/pyramid scheme awry. When they invented derivatives on Wall Street that allowed investors to stretch their investment dollar to 1/40 plus on the margin, it was definitely the beginning of the end on "parabolic" steriods, LOL.

Right now we do well, while still paying attention to all that is going on, to shore up our own sense and understanding of the eternal aspects of this existence, for that will pay big dividends in a world where your money may soon be useless, if that sorry scenario should materialize.  I don't say any of this to dramatize gloom and doom, I promise!!!  Just this morning I found myself sinking into a bit of gloom and doom despair and gave myself the same showering I have been giving so many others lately, "I greet you in the Love and the Light of the One Infinite Creator", and the despair cleared like so many clouds parting for the sunshine!  I love you all and look forward to all we will be learning as the catalysts keep wratcheting up, and I do look forward to some amazing upside surprises!!!!

Love/Light, Chris

Bob07's picture

Yes, let it burn.  And the way to let it burn is to not give the financial elite our money in order to put out the fire or delay the burning.  Today, the House defeated the Bailout Bill, thanks to many thousands of voters who called or wrote in to tell their representatives how they feel.  Now, the bankers have nothing to fall back on, and they will likely go bankrupt.  If they do, the NWO folds and our little blue pearl can proceed as it was intended.

Today I got this link from an activist on my e-list.  It's a message proportedly from the Galactic Federation predicting the downfall of the Illuminati by Feb. 1, 2009.  I'll admit that I don 't know anymore what's true and what isn't in this very surreal world becoming more surreal every day.  Is the Federation real or not?  I don't know.  I know that Benjamin Fulford said in one of his interviews a couple of months ago that both the Rothschild and Rockefeller (rival) branches of the NWO elite are bankrupt.  That would lend support to the credibility Federation message.  Here it is: http://www.10-14-08.blogspot.com/

The Bill was defeated, but impeachbush.org warns that there could be backroom arm-twisting to get HR members to change their votes.  They recommend reinforcing the NO that the people have voiced on this.  Their announcement is pasted below.

Okay, take care.

Bob

We won! Now take action to prevent any vote-changing!

No to backroom arm-twisting!

The vote has just come
in and we won. BUT, the House leadership of the Republicans and Democrats is
right now doing backroom arm-twisting to get your representatives to change
their votes. If they can get 13 Representatives to change their vote, the
bailout will pass. If we all take action right now to make phone calls and
emails, we can stop this effort to hijack this significant victory for the
people in Congress.

Click here
to send your letter now.
If you have sent one before, send again.

Tell your
friends to send a letter right now.

You can call the Capitol
Switchboard at 800-473-6711 or 202-224-3121 to ask to be transferred to the
office of your elected official. [You can also find your rep's number at http://www.house.gov]

ChrisBowers's picture

just sent a letter as per your link Bob.

The people of this country have spoken. The bailout legislation has been defeated. They oppose the bankers' bailout. Backroom arm-twisting is an unacceptable hijacking of democracy. I will not accept any vote change in favor of the bailout.
We watched in horror as bad bundled loans given AAA ratings and the derivatives game on wall street drove our banking/financial construct off a cliff with people like Hank Paulson from goldman sachs at the wheel, and now you would have us trust them to do the right thing?
If all of you den of thieves really wanted to do the right thing, you would have started during the reagan administration.  It became perfectly clear that we actually have a one party system when the democrats won the majority in 2006 and nothing changed as per the mandate demanding that we get the hell out of Iraq and stop threatening Iran!
You misrepresentatives made your bed, so sleep in it

Bob07's picture

Amen!

ChrisBowers's picture

We does what we cans...

Berry's picture

Dear sisters and brothers of the Transformation Team Portal

I happened to notice a very strong synchronicity this afternoon while watching the evening news.  They said that the Dow had dropped 777 point today at the closing.  I find this a very positive gematria number in this circumstance.  777 totals 3.  Today's date 9th month, 29th day in the year 2008  totals 3.  This is the number of unity and perfection, completion. This morning I caught the clock showing 11:11 for the first time that I have been watching numbers,  and my favorite and most frequent number combination 4:44 showed up early this morning.  I have actually been seeing 444 for a number of month now.  I have wondered what the information was, but if you add 444 together you again get the number 3.

I have not had any fear reaction to what is going on, rather I have observed and seen that what has been fortold is indeed coming to fruition.  The old paradigm is falling apart, making way for the new and improved 4d age that we have been looking for.

This does not mean that we who are "Aware" can let down our persistant sending of light and love to this Earth and her inhabitants.  And we must not fall into fear of the consequenses of what may occur in the coming months/years but with joy and anticipation of the great change which seems to be well initiated at this time, look forward to the shift and the Harvest to come.

In the Love and Light of our one infinite Creator,

Berry

davelambert's picture

They killed the bailout.  It is the first time in years I have been able to consider Congress without wanting to throw up.

Now if it just STAYS dead, I will begin to be proud of them for the first time since...well, it's been a loooonnnng time.

8-D

--- Post removed at author's request ---

ChrisBowers's picture

Congress barely stopped this thing from happening, and that in the face of 30-1, 40-1, even 50-1 in some states against the force-fed Bush-backed despotic measure steeped in fear-mongering by the media and by "W" himself this morning. I am ashamed of the democrats for being so spineless. They are no better than the republicans, and they have gone about proving that since being given an overwhelming emphatic mandate to get the hell out of Iraq since they gained the majority in 2006.

The last two years have been quite revealing concerning the true nature of the democrats. At least the brash republicans are right in your face with how they feel. The democrats (the majority of them anyway) are down right spineless weasels! If you were not sure yet, you can be very sure now, we are a one party system, okay a two party system if you count we the people as a party, but we have been out of favor for years now. The democrats just proved that and will most likely prove it most emphatically when they try to get something past this Thursday.

If anyone wants to hear and see the most beautiful and enlightening bright light truth teller in Congress right now, keep your eyes and ears peeled for Rep. Marcy Kaptur (D-Ohio)! She has this whole thing pegged perfectly, right down to the ruse of withholding money flow into overnight lending bank to bank to create all of this panic and allow big banks like JPMorgan Chase to pick up WaMu on the ridiculously cheap, and the need for changes concerning exchanges by the SEC chairman!

The real JP Morgan was instrumental in the birth of the Federal Reserve Bank. This system has to come down!

I also suggest the reading of Elizabeth's latest post of Mike Quinsey on the "14th October 2008 Lightship" forum....

Love/Light, Chris

ChrisBowers's picture

One might better understand what is going on right now by watching this excellent video exposing the wealth and power of the Rothschild family, currently headed up by the Queen's main man, Evelyn Rothschild.  Although no one really knows the exact figure, the Rothschild family empire is estimated to be about 500 trillion, more than half the world's wealth.

700 billion is chicken feed to these people....

http://video.google.com/videoplay?docid=-4430543376785758889

ChrisBowers's picture
From the Producer of  THE MONEY MASTERS
October 1, 2008
Urgent Letter re the $700 Billion Bank Bailout

Dear Fellow American Citizen:

The
ongoing, severe economic turmoil in our nation - destined to get worse
if the right remedy is not enacted - was predicted in our video The Money Masters as the inevitable result of our fractional reserve banking system.

Our banking system, established by the Federal Reserve Act of 1913, works essentially like a spring.  When the Central Bank, the
Federal Reserve, wishes to create new money, it simply does so.  There
are no reserves to our money.  The Fed then spends this money, usually
to buy Treasury Bonds from private owners of the bonds (more recently
to bailout or help huge banks buyout failing banks), which the sellers
had purchased from the Treasury Department.  These bonds (and Treasury
bills, TIPS and notes) were initially sold to the public to fund
government deficits. In our metaphor the money created by the Fed is
the spring.  The spring gets stretched in the following manner.

Banks,
privately-owned, are permitted to loan out 90% of this new Fed-created
money once it is deposited by the sellers of the bonds.  That would not
be a problem, except for the fact that the borrowers almost always
redeposit the money (or the people they pay with their loan proceeds
do).  Once re-deposited, the banks can lend it out again.  This
re-loan, redeposit, re-loan, redeposit, etc. scheme, authorized by the Federal Reserve Act of 1913, allows banks each time to retain just 10% of the re-deposited
loan proceeds as a reserve, ultimately allowing banks to lend out 9
times the original amount deposited, and to charge interest on it as
many times as it was loaned.  So instead of an interest rate of, for
example, 6%, the banks may be collectively receiving a total of 54%
interest per year (6% x 9; usually it is somewhat less due to the lack
of qualified borrowers).  Now you know, if have not already seen The Money Masters, why banks grow and prosper much more than other businesses, that is, until they have stretched the spring to the maximum.

Once
the economy is flooded with the bank-created money 9 times in excess of
the money originally created by the Fed, an expansion that increases
the money supply, which reduces the purchasing power of
already-existing money (including wages and savings), interest rates
begin to drop (as there is more money to lend) and prices rise
(inflation).  The dollar begins to fall relative to the money of other
countries not in this same stage of money expansion.  Money begins to
flow out of US Treasury bonds (due to lower interest rates and the
lessening purchasing power of the dollar due to inflation).  Thus ends
the expansionary or "boom" part of this artificial "business cycle." 
To combat rising inflation and the falling dollar, the Fed begins
raising interest rates.

Then the spring of the economy - the
money supply - having been stretched to the maximum, begins its
contraction, usually initiated by rising interest rates reaching a
point that begins to inhibit borrowing and also inflation.  The
economic "bust" part of the cycle begins. Loans dwindle as interest
rates rise and credit terms tighten.  Various segments of the economy,
accustomed to easy credit, begin to contract due to higher interest
rates; loans become harder to get.  Home prices fall, businesses begin
to fail, bankruptcy's increase.  This "bust" part of the cycle
continues, and worsens, until inflation is "tamed," prices stabilize,
and the dollar rises relative to other currencies.  Eventually, the
higher interest rates begin to attract foreign money, and the Treasury
then is able to borrow what it needs at lower and lower interest
rates.  Interest rates fall.  The artificial cycle then begins anew.

This
boom-bust economic cycle is totally unnecessary and is the fundamental
cause of the inherent instability in our economy.  It is due to
too-rapid increases in the money supply due to deficit spending and
then the multiplier effect of fractional reserve banking (described
above) and to lenders greedy to take advantage of such a system that
rewards lending with more and more interest revenue; followed by a
too-rapid contraction of the money supply (such as we are experiencing
now), necessary to combat the inflationary effects of the former phase,
both the direct result of the Federal Reserve Act of 1913. 
We urgently need to reform this system that rewards greed and results
in ever-increasing swings from boom-to-bust - destroying ordinary
businesses and farms in the process.  We need to repeal or
fundamentally reform the Federal Reserve Act of 1913, and to replace it with a system that eliminates the ability of private banks to "create" and multiply money as loans.

The
major banks of this country - the ones the government is lending your
money to, and from which the Bailout Bill proposes to buy their bad
assets (wouldn't you too like the opportunity to sell off your bad
investments to the government!), are busily swallowing up the banks in
trouble in this latest bust - one deeper because of more rapid prior
monetary expansion and inflation.  As after all prior bust cycles, they
will emerge larger and more powerful, and fewer.  Wealth will be even
more concentrated under their control, which they will use in the next
bust to further this process, until eventually no one will own anything
but the ability to borrow - to go deeper into debt to banks than their
neighbors. Not savings, but credit scores will determine the average
American's ability to engage in economic activity (such as buying a
home or car).  No one will dare breathe a word against such power,
concentrated in very few hands, and our republic will end with a
whimper.

Our Congress struggles with ignorance of the
complex, bank-created system enacted in 1913.  It struggles with the
money the bank PACs flood into the political system to defeat their
critics and elect their shills. It struggles with mass media owned or
controlled by the banks, which seek to stir up panic in the populace,
to stampede Congress into bank-developed "solutions" that only make the
fundamental problems worse and increase their wealth.  Based on
history, the banks will not fail to see-saw the economy and the markets
to match their strategies for fooling the public, and putting pressure
on the Congress to do their will.  But we must resist.  We must hold
out for genuine reform - for repeal or fundamental reform of the Federal Reserve Act of 1913.

Here is a hyperlink to one such reform proposal, the Monetary Reform Act. It
is not the only possible reform, but it is one developed, in its
essentials, over many years by numerous monetary reformers including
the late Nobel Laureate, Dr. Milton Friedman.  Any genuine reform of
our monetary system must include two basic elements: fractional reserve
lending (such as described above) must be prohibited, and private banks
must be forbidden from creating money, whether as loans or otherwise.  The Monetary Reform Act does both.  It also incorporates means of doing this that include
paying off the huge national debt, and stabilizing the economy.

We have not previously written the viewers of The Money Masters. We judged the time was not ripe.  But increasingly we are being asked - urgently - what can we do, and when, to be effective. Now it is clearly urgent that we flood Congress with our calls, emails and
letters, to oppose the proposed taxpayer-funded Bailout of the banks. 
Rather, we support genuine reform, that will not result in an even
greater concentration of economic power in fewer and fewer hands.  We
support the Monetary Reform Act, or any such Act that repeals or reforms the Federal Reserve Act so as to prohibit fractional reserve banking and money creation (as
loans or otherwise) by private banks.  We oppose the Bailout of the
banks.  We want genuine, fundamental reform, now!

Very truly yours,

Patrick  S.J. Carmack

Patrick S.J. Carmack, J.D. 
Producer of The Money Masters

themoneymasters.com
The Two Step Plan to National Economic Reform and Recovery
1. Directs the Treasury Department to issue U.S. Notes (exactly like Lincoln's Greenbacks) to pay off the National debt.

2.
Increases the reserve ratio private banks are required to maintain from
10% to 100%, thereby terminating their ability to create money, while
simultaneously absorbing the funds created to retire the national debt.

These
two relatively simple steps, which Congress has the power to enact,
would extinguish the national debt, without inflation or deflation, and
end the unjust practice of private banks creating money as loans (i.e.,
fractional reserve banking). Paying off the national debt would wipe
out the $400+ billion annual interest payments and thereby balance the
budget. This Act would stabilize the economy and end the boom-bust
economic cycles caused by fractional reserve banking.  For the full
text of the Act click here to read the MONETARY REFORM ACT.

Support the Monetary Reform Act - contact your Congressman today!
Bob07's picture

Today I got this from www.ImpeachBush.org:

"Having suffered a stunning defeat of their "Grand Theft Bailout" Bill on Monday,
the Bush Administration, the banks and Wall Street are now coming back for their
second try. They are used to directing the affairs of the country regardless of
the will of the people. The U.S. Senate is expected to vote tonight, Wednesday
evening, in favor of a nearly identical version. This is intended to force the
House of Representatives to do the same when they return tomorrow, Thursday."

If you're of a mind to act, you can find your Senators' Washington and local phone numbers at www.senate.gov and your HR members' numbers at www.house.gov  You can also send a letter via to all three at once at http://www.votenobailout.org/.

--- Post removed at author's request ---

fredburks's picture

Beloved TT friends,

Even though the bailout passed, I am very optimistic that this will help Americans and others around the world to wake up. It was very clear even in the press that U.S. citizens were largely opposed to this ridiculous sum of money. The unraveling is taking place. People's reality is being shaken up, opening the way for a new paradigm to flow forth. Thanks for being part of this amazing shift!

with lots of love and excitement,
Fred

StanP's picture

In this brief speach in Congress, Rep Peter DeFazio outlines the presure that the finance people are under from the People's Republic of China.

 

http://www.youtube.com/watch?v=v8Qn4-1q80A

Berry's picture

This is a funny but sad commentary on the Bailout which I thought would provide some chuckles in the face of the the situation. Not unexpected that it was banned by NBC. This may be the only copy of the video still out.

 

I tried to insert the video clip with no success, so here is the link.

 

http://snlbailout.cx/

 

 

 

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