Should We Kill the Fed?
by Pat Buchanan
For the financial crisis that has wiped out trillions in wealth, many have felt the lash of public outrage.
Fannie and Freddie. The idiot-bankers. The AIG bonus babies. The Bush Republicans and Barney Frank Democrats who bullied banks into making mortgages to minorities who could not afford the houses they were moving into.
But the Big Kahuna has escaped.
The Federal Reserve.
"(T)he very people who devised the policies that produced the mess are now posing as ...
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Posted by: James A, Sweeney
Comment: #1
Fri Apr 3, 2009 5:29 AM
Sir;...I we don't kill the Fed, the Fed will kill us... If we do not kill capitalism, then it will kill us....Let's not pretend that it has not happened before in other socieities where their ideals killed them and they did not have the ability to see through the ideal to the damage that was done...Societies do not die of widely spread poverty; but they do die of great inequalities of wealth... And that is exactly the result of the Fed...No matter how much national and international wealth is gobbled up by the rich, there stands the Fed, and the international monatary fund offering even more liquidity...For the people it means more credit, but more credit means more slavery, with workers, increasingly fewer in number required to support more and more of the society on the hook for debt... Does anyone think this wide spread debt is good for the people, the country, or the world???Our debt is a title to all our property...Our debt demands our increased exploitation, and our lower wages, and more debt to fuel consumption... Some people are living on our interest, and most are paying interest; but ultimately we all pay for it... If the economy cannot support the government; the government is forced to support the economy...So the government puts the whole people on the hook to support an economy that takes all, and gives us nothing...The government cannot fix the system, and borrows to survive, which gives the rich title to the wealth of the whole nation...In fact, all our debt gives the rich title to all our property... Unquestionably, the rich have taken too much; but ungoverned, why should they not take all??? Sooner or later, whether we like it or not, the people are going to have to choose between their freedom, or endless debt...They will be forced to recognize that the deep pockets the government has offered to the rich, to spur growth, are our own.... If we cannot bear being robbed by the rich, the government will take it for them...We have to lose both at once... And if we do not throw them all in Jail, they will howl until the capitalists of other lands come and make war on us... If we will keep this place, and have it free, we have to dismantle this government and economy and form a new one...And I do not want to point to the new world order... That has always been our goal...The fact is, that international capitalism does not work any better than national capitalism...But the unrestrained greed of the rich to have their share of the world has accelerated us into this depression at light speed... They think more liquidity is the answer... Liquidity is the answer... We need to liquidate the wealth of the wealthy... We need to liquidate the government... The marriage between government and capital has got to end...We need democracy...And democracy has no choice but to serve the people....Don't think you can keep half the problem, and solve the rest... Throw all the bums out...Thanks...Sweeney
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Posted by: Luis Magno
Comment: #2
Fri Apr 3, 2009 9:26 PM
President Barack Obama must do three things if America is to survive the present existential crisis: 1) Put the FED under bankrupty protection and re-organization, 2) end the white/non-white caste system and 3) rebuild the physically productive infrastructure.
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Posted by: Shirley deLong
Comment: #3
Sun Apr 5, 2009 11:24 AM
'We really had no choice in bailout of AIG!' Yes, Mr. Bernanke, you and rest
of politicians had a choice! Strict mandatory guidelines should have been
imposed on AIG! NO MORE BONUSES, cut 'fat cat' jobs, salaries, and
retirements. Latest; I'm quoting AIG exec "If we don't pay big bonues, they'll
sue us!" How dumb are you? It's Taxpayers' money, not theirs or yours. It's
time for AIG, Freddie, Fannie, Banks, Automakers and anyone else taking
Taxpayers money to immediately file Bankruptcy! You see, Mr. Bernanke, bad
choices put America into this situation, selling out textile and
manufacturing jobs, and borrowing money from foreign countries started
downfall! Without Americans jobs, theres' no buying homes, autos, or
anything else! Guess how ignorant you and your advisers look to the homeless
people on the streets?
Bay of Thailand is buying AIG Retail Bank Company and closing shortly!
Taxpayers demand that this money be used to pay off national debt!
Obama's top advisers vigorously defends his 3.6 trillion budget! "Taxpayers
don't!" The so-called put people back to work programs, called
infrastructures, is another hype! Last week, I was in a meeting in which one
of the 'economic advisers' from one of the 'bailout banks' spoke. He stated
he'd been in DC for a week!" I asked him why he thought America needed
infrastructures if we didn't bring textile and furniture manufacturing jobs
back to America? He stated 'they' didn't bring this up! He was hoping the
floor would open up and I'd fall through it!
It's time government runs like a private business.Taxpayers know it's time
to cut jobs and salaries to $12,000.00 yearly for politicians. After all,
these Public Servant jobs give less than 30 days of service and, in today's
world of mismanagement, bad laws, deceit and greed, this is more than they
deserve.
It's time to put these career criminals behinds bars! What are we waiting
for?
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Posted by: Ali Mogharabi
Comment: #4
Sun Apr 5, 2009 12:09 AM
Agreed with Magno on the prodction (manufacturing) statement. We must again begin to produce things at home. And this won't happen with the protectionist stuff that this Obama-Shlobama team has tried to implement. We need the economy to again represent 50% consumption and around 50% manufatcuring. We can begin getting into the 'workflow' of manufacturing of the goods that not only americans consume but also many around the world. we need exports to go up again. We need to make the economy once again dependent on producing tangible things rather than either the so-called services or just consumption. Hopefully as we know that the dollar will sink and sink, it will give our companies good enough reasons to move the production facilities back home. Of course then we'll get ready for another cycle. With all of this said (although not directly addressing Bucchanan's article) I must say that Mr. Bucchanan is absolutely correct. Get rid of Fed right away. Fed's dirty hand that meddles into our economy every year, month, day and hour, certainly isn't the 'invisible hand' of the free market that we expect.
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