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| Connecting the dots...An Intuitive look at the ongoing paradigm shift that is altering our world. | |||||
Entry for October 02, 2008 ![]() Bankster Bailout moves back to House You've got to hand it to them...the backers of the Bankster Bailout are really crafty. How do you pass something that most of the nation recognizes as an outright scam? You repackage it with tons of pork and goodies. Will the principled members of the House be able to resist while juicy hunks of bacon are dangled over their noses? Harry Reid and his buddies must have fished through the hopper of unfinished legislation to select popular items, such as AMT relief, and then bundled with certain pork items sure to please constituents in critical districts. We have alternative energy credits, numerous tax breaks for business, and fiscal disparities aid for western states. Christmas comes early this year (for certain folks). Now the House is set to vote again, with the music of fear and doom playing in their ears. The media will hype the high-stakes drama and everyone will pause to watch the votes tally on the screen. In reality, the only thing at stake at this point is how much more of the public treasury is going to get looted. The financial system is so close to collapse that nothing can save it. The only question now is whether to cut off the Banksters from their feeding frenzy and preserve something for post-crash reconstruction. Let's face it - the system is so rife with corruption and distortions, that there is no way to unwind it in an orderly manner. Many economists have been predicting this situation as a natural culmination of obvious trends. It's a natural cycle. A crash will clear out the toxic malignancy like no incremental reform could ever do. Unfortunately, the pain will be felt by all, and fall most disproportionately upon those who are already vulnerable. The most sensible and compassionate course is for the government to immediately begin targeting assistance that will benefit ordinary citizens. The 700B Bankster Bailout, along with ending military intervention abroad, would go a long way toward financing the following: 1. Abolish the Federal Reserve (Contrary to public perception, the Fed is NOT a government agency, but a private bank owned by private investors) and absorb central banking functions into the Treasury Department. 2. Impose a moratorium on home foreclosures. 3. Restructure Fannie and Freddie as governmental agencies and provide mortgages at low, fixed rates for owner-occupied housing. 4, Allow the domino-effect failures to crash through existing banks and corporations. Provide targeted assistance to worthy institutions that survive, and insure losses to savings, pension plans, & annuities up to a certain limit ($250,000). Life will continue after the crash. However, compassionate policies and effective leadership could spell the difference between renewed hope and optimism, and a chaotic downward spiral that results in revolution and mass destruction. -Darkwave 2008-10-02 14:40:15 GMT
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