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Are You Pondering What I’m Pondering?

U.S. Treasury Secretary Henry Paulson says because the banks aren’t lending he want to take your $700 billion bailout money and give it to credit card and other loan companies.   Regardless of the fact that this is totally messed up on so many levels, think about this.

The government is taking your money to loan to the banks so the banks can loan you money.

Wouldn’t it make more sense for the government to just not take your money in the first place?

  • StatlernWaldorf

    …..or just give it back to me.

  • Tom

    Who is in charge? Paulson? Yikes! Where is the President, the Congress? Didn’t they authorize specific uses for the money? Isn’t there supposed to be an oversight board? Bush is already checked out for Crawford and we get the usual Congressional phalangial rectal inaction. Sheesh.

  • Taxpayer 834512

    That means we would have voted for the candidate who favored less gov’t compared to the other guy. Did we do that?

  • Near East Side Resident

    Problem is I don’t think either really where for smaller government. So we got screwed by the primary process for putting somebody up that isn’t a true conservative voice.

  • John Howard

    Make sense? Yes. But it’s the government we’re talking about here.

  • http://www.hoosiersforfairtaxation.com Melyssa

    I’ve been sounding these warning bells for a while. I learned from Ron Paul. Congressman Buyers was on Garrison this morning and said they tried to do this after Black Monday crash when Reagan was in office. Reagan would have no part of it.
    .
    And the stupid sheeple voted the same people back into office. Notice Pelosi isn’t going anywhere.

  • Shorebreak

    Melyssa, a lot of people have been sounding the bells. Some have been ringing them for decades – literally. They’ve warned that our entire economic structure is a house of cards, gaurunteed to reach a point of complete collapse.
    .
    Having researched everything from Keynesian finance to Austrian economics (Mises), I couldn’t agree more. The following quote is from analysis posted today (the kind that you won’t hear from the ABCNNBCFOX or HannityBoortzRushBeckSavage propagandists) by Doug French – Exec. VP of the Mises Institute:
    .
    “the real cause of the current financial crisis can be summed up with two words: fiat money. The word fiat means, out of nothing. And since 1971, when Nixon proclaimed, “We are all Keynesians now” and severed the last link that tied the dollar to gold, the amount of dollars created by the Fed out of nothing has grown over 10 times as measured by M-2 (from $685 billion in August 1971 to $7.7 trillion in August 2008).
    .
    As if all this past monetary expansion wasn’t enough, the Fed is now working overtime, in concert with the world’s other central banks, to create what investor Jim Rogers told a foreign CNBC audience will be “a monetary holocaust.”
    .
    Rogers didn’t make any friends with others on Wall Street with those comments. As Rockwell points out: “The best way to fall out of favor with the regime – or its pseudo-libertarian and neocon supporters – is to question its central bankers.”
    .
    But, history is clear, more fiat money won’t solve this crisis; a return to sounder money will.”
    http://www.lewrockwell.com/french/french95.html
    .
    Abdul – you should see about scheduling French for the show. He’d be a definite hit among listeners who are tryong to understand what’s happening and where the economy is truly going.

  • http://www.hoosiersforfairtaxation.com Melyssa

    Abdul should also get Congressman Buyers on his show to talk about this. He was great on Garrison this morning.

  • http://www.bilerico.com jerame

    I think you’re being a little disengenuous here. They borrowed that money from China, they didn’t take it from us. It’ll be years before they get around to taking this money from us to pay back the Chinese. Hell, many of us will be dead before that loan gets paid off.

    I guess that makes it more like money we are borrowing from our kids and grandkids. They would just blow the money, so we may as well spend it for them. They owe us anyway, right?

  • coupon cutter

    The other day I heard about this guy who is suing the federal government on the bailout. It was Paulson and Bernanke that cooked up this scheme and Congress made it happen. Maybe we should su Bernanke, Paulson and every Congress member who voted yes? Oh a dream come true………. It is estimated that 300 to 1 comments coming into the offices of Congress were against the bailout. Still Congress approved it and it is clear no one is listening up in the big house. Maybe they would listen to a class action lawsuit by outraged taxpayers who oppose this multiple bailout scheme?

  • Shorebreak

    Coupon cutter – a class action lawsuit where? In Federal Court?
    .
    And for what? Repayment of the bailout money? By who? An act of Congress?
    .
    I’ve quoted the following before on this site. I’ll continue to do so as things quickly become more apparent – and begin to deteriorate more rapidly – now that we’re being robbed in broad daylight (rather than the deception that they usually use) by our own government:
    .
    “America is at that awkward stage. It’s too late to work within the system, but too early to shoot the bastards.” Claire Wolfe — 101 Things to Do ‘Til the Revolution (1996)

  • Tom

    Yet, coupon cutter, all of the Indiana delegates were re-elected by comfortable margins. It’s voter insanity. We keep sending the same people to Congress expecting different results.

  • ebitda

    Here is another thing to ponder.

    Don’t Laugh.

    Bush Warns Against `Too Much’ Government in Markets

    http://www.bloomberg.com/apps/news?pid=20601087&sid=aMXzD7tQQGdY&refer=home

  • Tom

    ebitda: No surprise here. Bush has been saying one thing and doing another for eight years. It’s all a part of that ‘repeat a lie often enough….’ technique that the Roving Republicans have gotten so good at. Remember the classic tautology “this is not torture because the United States does not torture”.

  • http://www.hoosiersforfairtaxation.com Melyssa

    Indiana has some good guys in congress who are deadset against this bailout. Mike Pence was one of the leaders.
    .
    Andre Carson was a turncoat. He voted against the bailout and then for it.
    .
    Curiously, the week of the bailout vote I tracked an I.P. address coming directly out of his office that was verbally attacking me with “hate speech” designed to harass and intimidate me as a blog editor. Keep in mind that week our Congressional offices did not have enough bandwidth to keep up with massive communication flow.

  • Think Again

    Melyssa, dear heart, Cong. Buyer is incorrect. Ronald Reagan never met a debt he didn’t love. Nothing like this was tried in this manner under Reagan. He was a straigiht-out budguet buster with borrowing. It was really pretty simple:

    He cut capital gains taxes (which I like), cut income taxes (also OK), and in eight years nearly tripled the Pentagon spending. As much as I favor increased defense spending (on the RIGHT things), you can’t give the Pentagon procurers more than 4-5% new money a year…or they’ll throw it on the ground. It’s a hopelessly broken procurement system, where the Air Force, Navy, Marines, Army and Navy all fly…now make sense of that. Maybe they should all also sail?

    Ronaldus Maximus, as Rush is fond of calling him, was a lot of things, but a fiscal conservative he was not.

    Remind you of any other recent Republican presidents?

  • Robert-NW Side

    Yeah…GIVE the money to the banks, who LOAN it back to us, at INTEREST !!

    What kind of crap is that ?!?!

  • coupon cutter

    So if it is too late to work within the system and too early to shoot them then what is the solution? Ideas anyone???????? There must be one or two options…..right? It can’t be nothing, zilch, zero, nada, someone help me out please~

  • ebitda

    Inside The Paulson Plan

    http://www.forbes.com/2008/03/29/paulson-finance-reform-biz-wallst-cx_lm_0329paulson.html

    This is his vision for the US financial regulatory system in March before he started a panic in September, yelling the world is ending, and demanded a $4 trillion bail out.

    Funny thing, the pundits laughed in March, called his plan dead on arrival, and said nothing would happen until we had a new president.

  • http://www.hoosiersforfairtaxation.com Melyssa

    Think Again…I’m not much of a fan of George W. Please don’t ever forget that.

  • David Myers

    Robert-NWSide. Just because they give the money to the banks, they do not force anyone to borrow it with interested. Its up to the American people, not the goverment to get themselves out of debt.

  • Taxpayer 834512

    I like TA’s summation of Reagan in post 16. But, I contend that lessened loan standards aided by Carter, Clinton, Frank, and Dodd did not help the collective crash-and-burn of George W. Bush on spending, energy, environment, and appointments. If the present morass doesn’t transcend pointing fingers at any one party, I don’t want to see the one that does.

  • http://hoosiersforfairtaxation.blogspot.com/2008/10/voter-fraud-obamas-acorn-supporters.html Melyssa

    HFFT activists are organizing a carpool caravan for next Saturday’s national END THE FED rally at Louisville’s Federal Reserve Bank. We will join simultaneous rallies at every Federal Reserve across America.

    The rally is planned to bring more public awareness of an Act authored by Congressman Ron Paul (TX) , House Resolution 2755, a proposal to abolish The Federal Reserve Board.

    Barack Obama’s win as our nation’s first black president, shows a great social achievement for America. He unites our humanity across racial divides toward a common dream of hope for a better tomorrow. And where there is hope, there lies possibility for faith. And faith always carries a duty for action. Hopefully some of you have not yet lost your faith in America. We have not. That’s why we continue work together to right her wrongs.

    Now we must make equally great strides on the fiscal front. It is critical that we confront the handling of our money by the group of bankers, known as The Federal Reserve Bank or The Fed. The Fed is not federal and there are no reserves. The bankers controlling The Fed are the most powerful individuals in the world. However, there are more of us, we have free speech, we have the internet, and we have ability to shine light on our problems in order that they may be fixed.

    Had there never been the Civil Rights Movement within the last 50 years, there would not be an African American preparing to take oath to serve the highest office.

    As Abdul aptly put last week:
    “U.S. Treasury Secretary Henry Paulson says because the banks aren’t lending he want to take your $700 billion bailout money and give it to credit card and other loan companies. Regardless of the fact that this is totally messed up on so many levels, think about this. The government is taking your money to loan to the banks so the banks can loan you money. Wouldn’t it make more sense for the government to just not take your money in the first place?”

    Lately Treasury Secretary Henry Paulson , former chief of Goldman Sachs, was given sole discretion (without oversight) of $850 billion of our future labor with a flakey hasty promise to bailout troubled mortgage assets. Instead he decided to give it, carte blanche, to the banks. Many of the banks are hoarding it, rather than keeping commercial lending oiled. Meanwhile, Iran converts $750 billion of its national treasury into gold.

    The American automobile industry, led by GM, is getting in line for their bailout check next. They, along with the UAW, have lobbyists working non-stop to push their bailout through as quickly as possible. Fortunately it is meeting with resistance from President Bush.

    Indiana Senator Richard Lugar states that he currently does not support the auto manufacturer’s bailout and was incredulous that they asked for the money without a plan. It seems our esteemed Senator learned quickly from his hasty support of the first bailout and is wisely hesitant to jump into more deals. Maybe he feels double-crossed by Secretary Paulson & Pals too.

    Saturday’s rally is to bring awareness to America that The Fed must End and that there is a resolution waiting for congressional co-sponsors to abolish the Federal Reserve.

    CAR POOL MEET UP: Saturday 11/22/2008
    WHERE: Broad Ripple @ 9:30 am
    RSVP: For meet up details & location, email hoosiers.for.fair.taxation@gmail.com
    RETURN TO INDY: 6pm
    WHAT TO BRING: Signs, flags, banners, lunch and gas money
    WHAT TO WEAR: Comfortable warm layers and good walking shoes

    NATIONAL END THE FED WEBSITE

  • Shorebreak

    There are a couple of websites where anyone can watch the “End the Fed” events live on Nov 22. I’ve listed them below. Feeds are currently set up for Houston – Phoenix – Portland – Atlanta – San Francisco -Chicago – Cleveland – Minneapolis – Detroit and Washington DC. If anyone from Indy can contribute to a live feed in Louisville please contact http://www.revolutionbroadcasting.com or http://endthefed.us/broadcast_community.php
    .
    Too much government in your life? Make your voice heard and prmote your beliefs by showing up at the End the Fed event in Louisville.

  • Taxpayer 834512

    Where can we get a list of WHERE the billions in bailout have gone so far? I don’t think that’s too much to ask. WLW’s Mike McConnell has a list of the banks. I’m looking for a master list with amounts and conditions to everybody, especially non-“bank” entities like GE, American Express, foreign corporations, and anybody else getting cash infusions with no surrender of equity or required change in management or labor practices. Who’s getting money without stipulation?