Good Job, Bloomberg...

Here's a huge story that Bloomberg has reported on, and the blogosphere is buzzing about. Two TRILLION dollars gone missing under the watchful eye of the Current Occupant & Friends. I think its about time the peasant's revolted, as the old joke goes "The peasants are revolting!" The lumpen prole is certainly going to be revolted & nauseous when this sinks in. Throw the bastards out, and where suitable, into hard time. Who amongst us can call this lot to account? Mr. Obama, are you up for it? Something stinks to high heaven here.

From Mike Ruppert QUOTE The following story is monumental and the days between now and January 20th are going to be non-stop action and, most likely, very bad news. The Treasury is refusing to disclose which institutions are getting taxpayer bailout money. Bloomberg has filed suit to find out. That speaks volumes for Bloomberg. Hank Paulson has completely violated his testimony before Congress when he sought approval of the package. Under oath he begged for the same transparency he himself is now refusing to provide. But bear in mind that most of the Treasury money that is being dispersed is NOT part of the congressional bailout package. There's more than two trillion in Treasury money forked over and the congressional bailout was only $750 billion. This has nothing to do with protecting asset prices or the industry. It has to do with obstructing justice and concealing evidence. If the mainstream media try to brush this over they will lose all credibility with Joe the Plumber and Joe Sixpack. The public will grasp this in a heartbeat. This is a crime being committed in broad daylight, in the middle of Main Street, in perfect weather.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aatlky_cH.tY&refer=worldwide

UNQUOTE SOURCE Here

Ruppert again: QUOTE I think the wheels are coming off it because this news won't sit well anywhere in this country and I smell that they have reached too far. It is far less expensive to prevent the money from leaving the bank than it is to get it back there once it's been stolen. This has got to be stopped. We must know where that money is going (or went) before January 20th.

UNQUOTE

I have felt this was a coup from the first days back in September. Who and why I am not sure. How, the bailouts. Here's what Chris Martenson says along those lines: US Taxpayers are Violated - the Looting Operation Continues

QUOTE I am trying to maintain a very level-headed approach to the changes that we are seeing. However, from time to time the looting operation becomes just a bit too obvious, a bit too overt, and I find my level of cool slipping.
This is one of those times.
Here are the dots that I am connecting that have me concerned, if not angry.
Remember, even prior to its passage, I called the bailout the greatest looting operation of our time. I did so because the language of the Bailout Act, as originally proposed by the former CEO of Goldman Sachs, er, I mean the Treasury Secretary, requested three things: unitary power, no review, and no limits.
Frankly, it was the most plainly-worded document of theft that I had ever seen, and probably ever will see, in my life (because it was too blatant and such mistakes are rarely made again).
After that draft was defeated in the House, the Senate immediately attached a much denser 300+ page version of the bailout bill to an existing piece of legislation and passed it. The house caved after an intense week of lobbying by both banks and the people of the land, who were diametrically opposed on the issue. Naturally, they caved to the banking interests.
But We The People won some symbolic victories in that battle, including the explicit promise of complete transparency in the use of that money.
Now it turns out that We The Payers won nothing at all, and that we are not even being afforded the most basic right of being able to view how that money is being spent. UNQUOTE

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Who can open up a can of Whoop Ass on this debacle? Who can set it right? I agree with Ron Paul, but if ever there was a time for true revolution in the US, this is that time.

Unfortunately, most Americans are stuck in a consumer trance and don't have any clue what is really happening in front of their eyes. The media is partially to blame, of course, but I also happen to believe that citizens of democracy have an obligation to stay informed, monitor the decisions made by their elected government, and act when their interests are not being represented.

If we (as Americans) simply wait around for our leaders to bring us the change we want to see, we'll never see it. We have to get on the phone, write letters and emails and take to the streets to demand that change. If enough of us actually woke up and exercised our rights, those in power would be forced to bend to our will or be replaced by someone who will. Obama brings some hope, but how much?

Of course the powers that be are aware of this, so it has always been in their interest to encourage ignorance and apathy in the electorate. What with porn everywhere, TV sitcoms, MySpace, professional sports and endless opportunities to buy and consume, we're doing their work for them.

I also believe that Americans are capable of great things once they are mobilized. I Love this country even as I disagree with many of its policies. But what will it take for us to wake up, break the chains of materialism and distraction and take the power into our own hands? If recent events have not done it, what will? And will it happen soon enough to avert total disintegration?

Watch and pray...

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"If Elected I Promise"

For my American readers, a gentle reminder that Christ told us to not "put our trust in princes nor sons of men." Vote on Tuesday, in accord with your conscience, your mind and your convictions. Always remember that the USA is a place where "I may disagree with what you say, but I shall defend to the death you right to say it."
Never ever give in to those who say we should hate because others are hateful, that we should war because others are warlike, that we should grab and worship the golden calf because others have ill-gotten gains. Stand tall, America. You are better than that, and if you have fallen, get back up.

Both presidential candidates voted for the obscene “bail-out” that was just stolen from our national treasury against the documented wishes of 85% of Americans. The rhetoric has gone beyond empty—it is a vacuum that sucks rationality and critical thinking from the minds of a panicked public.

There was one candidate who actually represented “stopping the madness” in this election cycle: Ron Paul. His candidacy is over, thanks to a media black-out, but the movement he represents is in full swing. We at the Campaign for Liberty are trying to bring together third-party and independent voters from all across the spectrum. We want your help whether you are Green party, Naderite, Independent, Constitution Party, Libertarian, or even a Democrat or Republican. We will be in your area soon, and we hope to talk about things that matter.
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Talkin' To The Man From Galilee

As the old spiritual says, oh, sinner man, where you gonna run to?

The actual soul of this nation is a good one, and will eventually prevail over the lying politicians, investment weasels and corrupted bankers. The bull caca just keeps getting piled higher and deeper.

Here's a straight shooter, telling it like it is...

"What they (G7 leaders) need to do is go down the bar and leave the rest of us alone," Rogers said.

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QUOTE "This is a disgrace," Kucinich said, adding that some additional congressional action may be warranted. "The bailout continues to be perverted by those who led us into the problem to begin with and who stand not to just profit in a corporate sense but to profit personally through bonus packages."

Kucinich does not have confirmation of The Guardian's report but hopes to get some answers.

"No one is denying that this is happening," he said. "That AIG took action confirms that it's happening. We just have to see the extent of it." UNQUOTE
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Johnny Cash sings "God's Gonna Cut You Down"

Bailout Nation

from The Distributist Review
John Médaille

The Savers Are Bailing Out the Squanderers

Former SEC economist Laura Rowley argues that rampant consumerism and wealth disparity are to blame for the economic meltdown.

From Yahoo Finance

This article points at the great civil divide that will inevitably come. This country has to come together one way or another and wake up! On the one hand I have no sympathy for those that kept their head down, saved and are now on tap to pay for the Wall Street bailout...why? Because there was so much corruption and shady business going on in high places and lack of moral and social obligation, to ignore it and CYA is nothing to be proud of.

You sold your soul for "security." But true security is only in God.
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Ron Paul On the Passed Bailout Bill

"The credit crunch is a symptom of a very serious disease in this country."

The good doctor has the right diagnosis.

The Real Reason For this Bailout

This blew my mind. Watch it and see what you think. Check out http://supportedthebailout.org and http://FedupUSA.org.

"Wall Street.No, its about Shanghai, London, Berlin and Sydney. And no, I'm not kidding.The cover was blown this evening on Kudlow. If you don't get this video into the hands of the entire American Population within the next 24 hours, you are going to be paying taxes to cover the bad debt on a failed office building - or a hundred of them - in China."

The Nuts Are Right!?

Isn't it fascinating that the so-called "nuts" both right and left wing - marginalized, castigated and snickered at by the mainstream - are RIGHT?

From The Raw Story

QUOTE Democratic House leaders were rightfully rebuked in their attempt to pass an "immoral" bailout plan that would have put Wall Street's interests above those of average Americans, said Rep. Dennis Kucinich, who commended Republicans for helping torpedo the $700 billion package earlier this week UNQUOTE

CNN-Ron Paul Speaks on the Bailout

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DeFazio For The People Of the United States

My homeboy Congressman Peter DeFazio of Eugene, OR (my home town, where my brother still lives with his lovely family)hits it out of the park.

From 9/29 "Don't rush into this..."

Free Market According to Colbert

:D

heh.

A Big Thank You

Thank you to our Nebraska Congressional Representatives, Adrian Smith, Jeff Fortenberry and Lee Terry, all of whom voted NO on the nefarious "bailout" plan yesterday. It was good to see liberals and conservatives uniting for the good of the country.

Thanks to all the Reps who voted as the people wanted. Pols were running 300 to one against the "bailout". Steel yourselves, folks, I'm sure there are smooth-talkers coming to twist your arms while in recess for Rosh Hashanah.

Mellencamp's classic heartland rock Rain On the Scarecrow. Apropos.

The Voice of Reason

Jeff Fortenberry, Ron Paul and Mike Pence are providing voices of reason in this season of insanity.

If Pelosi has declared Congressional Martial Law, what does that mean? Can't be good.


Hat tip to Laura at RSE.

The Sucker Punch

Here's a brisk statement of common horse-sense. Be sure & click on over & read the whole thing.

Bailout: The Sucker Punch
By Alyce Lomax
September 25, 2008
Motley Fool MSN

QUOTE I know many people are convinced that something akin to a financial apocalypse will occur if the $700 billion bailout isn't rammed through quickly.
Some major questions and issues about our socioeconomic situation are getting lost in all the panic and noise.
The big sucker punch On one side: "Save the banks; ask questions later." On the other: "But what about the poor homeowners, losing their homes?"
Although attention is being paid to "the taxpayer," I can't understand why more emphasis isn't put on the biggest victims of all, those poor suckers who:
Save money, even with no incentive to do so since interest rates are ridiculously low, and possibly don't even utilize credit card debt.
Rent and refused to buy overpriced homes with some cockamamie mortgage scheme, and have been waiting for a major price correction so they can achieve the American Dream the proper way.
I'm sorry, but they're really getting the shaft, even if their fiscal conservatism and cheapness just look so darn un-American to many people these days. You know, "the paradox of thrift" and all that. Add in runaway inflation from printing out money, and the potential for major tax increases to pay for our profligate ways, and these people are really getting the business.
The geniuses -- Wall Street and individuals -- who got us into this mess probably looked down their noses at these "infernal" savers and "cheapskates" for not tinkering with their own personal capital structures in a more sophisticated manner. Now they're trying to cheat those people out of affordable homes by making an artificial floor in the prices. Thanks, guys. UNQUOTE
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Ron Paul on the Bailout

This showed up in my inbox from the Ron Paul for Congress campaign committee about 10 minutes after Bernanke was dismissed. Nothing new or groundbreaking, but it just smacks of a sense of urgency on his campaign's part to get us to do what we can to influence Congress...


Wednesday, September 24, 2008

Dear Friends,

Whenever a Great Bipartisan Consensus is announced, and a compliant media assures everyone that the wondrous actions of our wise leaders are being taken for our own good, you can know with absolute certainty that disaster is about to strike.

The events of the past week are no exception.

The bailout package that is about to be rammed down Congress' throat is not just economically foolish. It is downright sinister. It makes a mockery of our Constitution, which our leaders should never again bother pretending is still in effect. It promises the American people a never-ending nightmare of ever-greater debt liabilities they will have to shoulder. Two weeks ago, financial analyst Jim Rogers said the bailout of Fannie Mae and Freddie Mac made America more communist than China! "This is welfare for the rich," he said. "This is socialism for the rich. It's bailing out the financiers, the banks, the Wall Streeters."

That describes the current bailout package to a T. And we're being told it's unavoidable.

The claim that the market caused all this is so staggeringly foolish that only politicians and the media could pretend to believe it. But that has become the conventional wisdom, with the desired result that those responsible for the credit bubble and its predictable consequences - predictable, that is, to those who understand sound, Austrian economics - are being let off the hook. The Federal Reserve System is actually positioning itself as the savior, rather than the culprit, in this mess!

• The Treasury Secretary is authorized to purchase up to $700 billion in mortgage-related assets at any one time. That means $700 billion is only the very beginning of what will hit us.

• Financial institutions are "designated as financial agents of the Government." This is the New Deal to end all New Deals.

• Then there's this: "Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency." Translation: the Secretary can buy up whatever junk debt he wants to, burden the American people with it, and be subject to no one in the process.

There goes your country.

Even some so-called free-market economists are calling all this "sadly necessary." Sad, yes. Necessary? Don't make me laugh.

Our one-party system is complicit in yet another crime against the American people. The two major party candidates for president themselves initially indicated their strong support for bailouts of this kind - another example of the big choice we're supposedly presented with this November: yes or yes. Now, with a backlash brewing, they're not quite sure what their views are. A sad display, really.

Although the present bailout package is almost certainly not the end of the political atrocities we'll witness in connection with the crisis, time is short. Congress may vote as soon as tomorrow. With a Rasmussen poll finding support for the bailout at an anemic seven percent, some members of Congress are afraid to vote for it. Call them! Let them hear from you! Tell them you will never vote for anyone who supports this atrocity.

The issue boils down to this: do we care about freedom? Do we care about responsibility and accountability? Do we care that our government and media have been bought and paid for? Do we care that average Americans are about to be looted in order to subsidize the fattest of cats on Wall Street and in government? Do we care?

When the chips are down, will we stand up and fight, even if it means standing up against every stripe of fashionable opinion in politics and the media?

Times like these have a way of telling us what kind of a people we are, and what kind of country we shall be.

In liberty,

Ron Paul

Ron Paul Takes Helicopter Ben to School

The View From RSE

Laura had this to say about the "bailout"over at Red State Eclectic:

QUOTE It appears that the federal government doesn't believe in austerity any more (if you don't have it, just print it and spend it, I guess), but perhaps a refusal by the government to bail out these banks would be a good way to force us all into a more austere mode. Maybe it will force us all to make better business decisions.
I wonder sometimes whether the presidential nomination process would have changed any had all of this been happening a year ago, before the primaries. Ron Paul is getting a lot of airtime lately, saying the same things he's been saying for the last 30 years--probably because he can actually speak with some authority and authenticity on the financial mess we're in. I suspect that things wouldn't have changed all that much in terms of political outcome--I'm not sure the American people really want to hear the hard answers. UNQUOTE
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Let The Markets Work, Stop the Bailout

Call Congress:- Demand immediate debt forgiveness for all households making less than $250K annually (for without debt relief, the system will fail no matter how many times Congress bails out Wall Street crooks). Promise to join a NATIONWIDE GENERAL STRIKE that will shut down the entire nation until the taxpayers and especially the Middle Class are protected!

CALL CONGRESS NOW!

Here is what I have sent:
Dear Senator___________________,
As a long time supporter, small business owner, and an individual I am asking you to vote no on the proposed bailout. I ask you to vote this way because 1)the bailout does not provide enough transparency nor does it allow the oversight that is required for such an enormous spending by OUR government, 2) the bailout does not provide punitive measures for those corporations whose bad debt holdings will be purchased, and 3) the bailout is a short term bandaid on our economic woes that will only exacerbate our situation primarily because it will cause the value of our dollar to plunge and cause commodities such as oil to spike. This bailout will buy time for those executives and titans of our financial markets to perfect their personal exit strategies while decimating the common main street america families who will end up paying the most for this. Thank you for your consideration.Sincerely,

Check out this article for more info to help stop this madness:http://globaleconomicanalysis.blogspot.com/2008/09/lies-from-paulson-keep-stacking-up-what.html
Contact Your Senator Today! It's time to contact your senator. Here is contact information for Senators of the 110th Congress.
Phone or Email your Senators today. Tell them in your own words
* Urge your senator to Filibuster any bailout legislation. * Emphatically state you do not want a bailout of any kind for anyone.
* No Dictatorial power for Paulson or Bernanke
* Taxpayers should not have to bail out banks making bad loans
* Tell them that "The Fed" and Paulson are systemic risk".
* No Dictatorial powers for Bush.

Email AND Phone Senators Shelby, Bunning, Kyle, Ensign, Hagel

Whether Senator Shelby is your Senator or not, flood him with calls and emails asking for a filibuster and to stop the insanity. Senators Shelby, Bunning, Ensign, and Kyle might be sympathetic to the cause, based on past statements. I am including Hagel, he's a very sensible man.

Ask For A Filibuster
Please email and phone the following. Specifically ask for a filibuster and tell them to vote no to any bailout. Tell them that anyone who votes for this bailout will never get your vote again. Shelby, Richard C.- (R - AL) 110 HART SENATE OFFICE BUILDING WASHINGTON DC 20510 (202) 224-5744 E-mail: senator@shelby.senate.gov
Bunning, Jim- (R - KY) 316 HART SENATE OFFICE BUILDING WASHINGTON DC 20510 (202) 224-4343 Web Form: http://bunning.senate.gov/public/index.cfm?FuseAction=Contact.ContactForm
Kyl, Jon- (R - AZ) 730 HART SENATE OFFICE BUILDING WASHINGTON DC 20510 (202) 224-4521 Web Form: kyl.senate.gov/contact.cfm
Ensign, John- (R - NV) Washington D.C. Office 119 Russell Senate Building Washington, D.C. 20510 Phone: (202) 224-6244 Fax: (202) 228-2193 Web Form: ensign.senate.gov/forms/email_form.cfm
Hagel, Chuck (R - NE) 248 RUSSELL SENATE OFFICE BUILDING WASHINGTON DC 20510 (202) 224-4224 Web Form: hagel.senate.gov/public/index.cfm?FuseAction=Contact.Home
Please email and phone both of your senators as well.
Once Is Not Enough
I want to emphasize that once is not enough.
Here is what to do. * Flood the senators with emails and phone calls.Tell them in no uncertain terms that if they vote for this bailout they will not get your vote, ever again. * Send an email or call every day, preferably both. * Put each message in your own words. * Make the phone message sort and sweet. * Use one of the following verbs: concerned, frightened, scared, afraid, mad rush to action * Use one of the following themes: US dollar, unconstitutional, national debt, how do we pay for this?, printing money, lies, etc * Vary each message so they do not all sound alike
Send this post to 5 or 10 of your friends and have them do the same or post it on your web site. Do it now, while you are thinking about it.
I must be honest and state that this action is highly unlikely to work. However. It is the only shot we have.
This is a worst case scenario, folks. The "bail-out" is nothing less than a coup IMHO. We've been had.


The administration is asking Congress to give it sweeping new powers to execute the plan. Paulson said it "needs to be big enough to make a real difference and get to the heart of the problem.""http://biz.yahoo.com/ap/080919/financial_meltdown.html
How many times has this administration demanded "sweeping new powers"? I've lost count.

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Denner's Take on Fannie & Freddie

I have followed Robert Denner's comments on and off for a couple of years. He is readable and well-informed, with a fresh viewpoint you won't find in your local paper. His slant is contrarian/bearish and he is very knowledgeable about Peak Oil ~ rare indeed. His writing is like cod liver oil ~ goes down nasty but is very good for you.

Be sure and click over and read his whole post.

From Daily Economic Update

QUOTE This doesn’t necessarily mean that the government will have to dole out 4 trillion dollars but it does mean that they will now backstop the rest of this collapse ON YOUR DIME and the first payment due is going to be about 200 billion dollars. How does our “free market” friends on Wall Street and all the other markets in the world react TO THIS SOCIALIST INTERVENTION IN THE MARKETS?? Why you guessed it, they are up on average about 3 to 5% this morning and the US markets which open in 45 minutes are up a stagering 260 points in premarket trading which will probably equate to a 300 to 500 point gain on the day.
You see watching charts can be a good thing for you .. The markets crossed over a very important mark on Thursday and that signalled to me that something had to give. As usual I BET ON THEM DOING THE RIGHT THING FOR ONCE and as usual I was proven wrong. Instead of just letting reality finally rule on the markets and to let the blood flow, they once again deferred the pain and they bailed out the Chinese and Japanese and all the other 60 some odd National Banks. NOW DO YOU SEE why the dollar went up and why I called it manipulation. This was a tit for tat move that has been in the works for weeks now evidently.
YOU MUST UNDERSTAND NOW THAT YOUR MONEY IS NOTHING TO THEM!!!!!!! The money sitting in the markets right now is nothing more than pure unadulterated GAMBLING and cannot be considered any thing close to an investment. Investments are good things that help to pave the way to the future. They are conservative uses of money and are meant to build a future that is bright and optimistic. If you have money in the markets(and that includes your 401k money) you must understand that it is nothing but a gamble at this point. If they, with the wave of a pen, can do what they have done this weekend, what do you think they can do to your “investments”. UNQUOTE
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