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Federal Reserve and Us

Discussion in 'Financial Cents' started by overbore, Nov 15, 2008.

  1. overbore

    overbore Monkey++

    This is data and history from the past because it shows us in the light of current economic downturns, where we are and where we are headed:

    The TV pragmatists probably forget that Karl Marx and Frederick Engels wrote in The Communist Manifesto that creating “a centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly” should be near the top of any communist’s agenda.
    Is it any wonder that Treasury Secretary Henry Paulson’s plan has morphed into the federal government taking equity stakes in banks, mortgage companies and at least one insurance company? As Oscar B. Johannsen wrote: “A socialized banking system is the precursor of socialism in all business.”

    But the level of economic knowledge displayed in main street print or on TV has dropped lower than the Dow Jones Industrial Average. Economist and historian Tom DiLorenzo got an earful on MSNBC’s “Morning Joe” program recently from former Republican presidential candidate Pat Buchanan who admonished DiLorenzo: “How could you criticize Hamilton? He’s the architect of the American economy!” DiLorenzo’s new book Hamilton’s Curse shows us that Buchanan and other Alexander Hamilton apologists have it all wrong. “Hamilton was an enemy of free-market capitalism and early America’s foremost proponent of mercantilism, the system of government-granted monopolies, corporate welfare, protectionist tariffs and other policies that generally benefited politically connected businesses at the expense of the rest of society,” DiLorenzo explains.

    You and I are the "rest of society" who must pay the price ( increased taxes and fees) and bear inflation's draconion burdens daily because we are not "connected" to large banks and industries.

    What is going to follow, in my opinion, will be "Argentina North " in which scenario, the "outs" ( socilaists), have gotten the voting masses to elect a wolf, who when he gets into the White House in January, will remove his sheepskin camoflage, and we will see what is in place through the subversion of election registration fraud, campaign finance fraud, political promise frauds and finally fiscal frauds. Since they will have control of the M3, quantity of paper money created, count on a bailout of the Big 3 auto companies. The dirty little secret is that that sum of money will only last for about 10 months and it is back to broke. This, then, is the economic strategy of the socialists, "back to broke ", a deliberate strategy wherein they creatre the problem /crisis that only they can solve. This is word for word out of the Marxist Manifesto.

    If they socialists keep messing with regulations, false promises and false money, our food producing farmers are going to be up the "proverbial tributary without a means of propulsion" and food production. This, then may lead to more shrinking production, controls and suddenly we have serious rationing and shortages like Cuba.

    ---coming soon to centralized controlled government--in Washington.

  2. Tango3

    Tango3 Aimless wanderer

    Think the rose bushes will have to make way for potatos and tomatos...
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