billion loan to help support the nation's financial system as turmoil in
global credit markets and recession concerns sweep eastern Europe.
http://www.bloomberg.com/apps/news?pid=email_en&refer=home&sid=aMdLVmsn22jM
Ukraine, Iceland, Argentina, Pakistan, Hungary...USA? Entire nations are
going bankrupt and being "bailed out" or rather bought out by the
International Fed.
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1 comment:
Shut Down the Federal Reserve
from http://thomaspainereturns.net
With depression at the doorstep, it is time to fire the Federal Reserve. Western economies are on the brink of total collapse; only prompt, decisive and radical measures can prevent complete world economic ruin. Ironically, Russia and China are in a much better position to weather this up-coming storm than western countries.
The American rescue plan plodded through Congress and the world was hopeful when the $700 billion package went through. Alas, any relief was very short-lived and the package sent the share markets into even more pronounced gyrations.
Despite the whole rescue package being ill conceived, the pundits foolishly applauded the upward surge in the share markets. The recent rescue package was designed to give the ruling elite back money they used to artificially prop up the share markets. The package is a short-sighted, band-aid measure that helps secure the seats of incumbent politicians. But, the main beneficiaries of all these are the ruling elite and their Federal Reserve.
The failed rescue package was immediately followed by piece-meal assistance for certain individual banks. This gave the market a temporary boost. Again, it was short-lived. These volatile market swings should offer no comfort to anyone except speculators, who are becoming richer at the expense of everyone else.
The band aids will not help the economic crisis. There is a systemic problem. The Federal Reserve and all the central banks in the world that are designed on its model are defrauding the people of the world.
There is no rational reason why the U.S. Congress cannot print its own currency. The Congress was intimidated, bribed and blackmailed into creating and maintaining the Federal Reserve Bank. The Federal Reserve was awarded a contract to manage the currency in America. The cost of that contract to the U.S. has been $10 trillion in national debt.
To try to cover for the Federal Reserve's greedy fraud, many countries are being forced to pay into the Federal Reserve coffers to keep the world economy afloat. One of the ways they are being forced to pay is through devaluation of their currencies with respect to the U.S. dollar, which is a way of building up America at the expense of others in the world.
All of the band-aid measures will fail. The problem is the Federal Reserve, which concept is founded upon debt-based currency and fraud. It must be closed down or it will continue to suck the resources of the U.S. with its currency management contract. The American government could do the Federal Reserve's job for virtually nothing, and save the U.S. taxpayers between $200 and $900 billion each year in interest off a debt that will never be paid off.
Since the U.S. cannot pay off the debt, the rest of the world is being called in to assist in the maintenance of the Federal Reserve. Further, many other nations have similar central banks, so they are also paying their respective national debts on their currencies in addition to being asked to fund the U.S. currency debt.
It is time to let the U.S. currency debt fail, close down the Federal Reserve entirely, and begin on the road to correcting the fraud that lies deep in world economic affairs. It is time to shut down every central bank that mirrors the Federal Reserve. It is time that the people stop feeding the ruling elite through their central banks. Obama and McCain are offering no real solutions whatsoever. They are both staying within the band-aid scenarios that support the Federal Reserve.
The Federal Reserve is a cancer that has nearly killed the entire world economy. That cancer must be surgically removed from the world's economy, or it will soon kill the patient. There is no other viable alternative at this late stage. If either candidate, McCain or Obama, will pledge to eradicate the Federal Reserve, all freedom-loving people should get behind that candidate. If neither of them will take down the Federal Reserve, the world's economic doom is sealed.
W.B.W. Light-Rider
16 October 2008
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