Ron Paul on the financial crisis

[whipped]

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

[crzyone]

As an outsider looking in- are the American people as ignorant and uninformed as they seem?

The ONLY person that could have helped the average citizen isn't even in the presidential running....

I'm not saying Canadians are any better, our government is nearly as bad. If we had a "Ron Paul" to vote for I would in a second.

If Ron Paul were elected, I'm sure it would end just like Bullworth.

[Shaun41178(2)]

I think a lot of us americans are smarter then outsiders think. For the most part we know whats going on. But our elected officials are going to do whatever they want anyways. They don't listen to the people anymore. They listen to special interest groups that pay for their reelection campaigns and their vacation homes in Kennebunkport or cape cod.

Once they vote how THEY want, its too late to go back and change anything the next time the elections are held to get them assholes out. The wheels have been set in motion.

[crzyone]

Why does the average citizen believe they are either a republican or democrat?

Why doesn't a guy that shoots from the hip, is a doctor and has excellent ideas not even get a chance? To risky?

I will assume that the American media panders to the 2 major parties and doesn't give much coverage to outsiders.

[Shaun41178(2)]

I will assume that the American media panders to the 2 major parties and doesn't give much coverage to outsiders.

Thats exactly it.

If people have never heard of someone, how can they get the votes to win?

[darkchylde]

I think a lot of us americans are smarter then outsiders think. For the most part we know whats going on. But our elected officials are going to do whatever they want anyways. They don't listen to the people anymore. They listen to special interest groups that pay for their reelection campaigns and their vacation homes in Kennebunkport or cape cod.

Once they vote how THEY want, its too late to go back and change anything the next time the elections are held to get them assholes out. The wheels have been set in motion.

The real problem is that the majority of americans think this way. Nobody takes the time to call/write/etc their local leaders whether they be senator, congress, whatever and voice their opinions. The people as a whole do have a voice but very few speak up. This will not change until America is at its very worst and only then will the people stand up. We aren't there yet but we are getting closer everyday. People also focus so much on the presidential election but could make more difference if they actually studied up and voted for good local leaders.

[DiggityBiggity]

I'm a Ron Paul supporter... campaigned for him, donated over $500... canvassed my area.

Tell you what... the America populace, at least in my area... is either awake, or FAST asleep... no in between here.

[whipped]

Why does the average citizen believe they are either a republican or democrat?

Why doesn't a guy that shoots from the hip, is a doctor and has excellent ideas not even get a chance? To risky?

I will assume that the American media panders to the 2 major parties and doesn't give much coverage to outsiders.

Ron Paul was running as a republican.

He has things that appeal to both sides of the aisle. The reason why he didn't get more coverage, is because he would upset the status quo. People need to understand that REPUBLICANS and DEMOCRATS are the SAME PARTY. They tell you what you want to hear to get elected, and then they give themselves a pay raise, start some wars to get defense contractors happy, spend more on this and that.... It's all money in the end. If you think the millions being spent on campaigns is obscene, follow the real money trail. The livelihood of huge companies and government organizations are at stake here.

Ron Paul said he wanted to get rid of all these 3 letter government departments (IRS,etc). He might as well have shot himself in the chest right there. The powers that be have an interest in their self preservation.

God damn, I sound like a conspiracy theorist. Gimme my tin foil

[DiggityBiggity]

God damn, I sound like a conspiracy theorist. Gimme my tin foil

No, you sound fucking logical... the conspiracy theorists believe everything is just fine and their Democratic Republic is in perfect working order

[lucky]

God damn, I sound like a conspiracy theorist. Gimme my tin foil

Is Major League Baseball monitoring your thoughts too?

[Series8217]

The House defeated the "bailout plan".

[p8ntman442]

CITI bought wachovia, looks like when I need money its gonna be harder to get and cost more, since there will only be like 5 financial institutions.

[whipped]

CITI bought wachovia, looks like when I need money its gonna be harder to get and cost more, since there will only be like 5 financial institutions.

No, I think I saw this in a movie once... You have to start your own bank, say it's going under, and get a billion dollar loan from the government. If you use this idea, I want 10%.

:la:

[The Dark Side of Will]

The House defeated the "bailout plan".

Good.

"Give us $700B and we'll go do something with it"

Yeah, something will happen to it, alright...

[p8ntman442]

Actually this was all bulshit. The real deal was the defense spending budget of 600billion which got passed 2 days after being composed. Hmm there is something nobody should consider looking at.

SMOKE AND motherfuckin MIRRORS.

we were all duped.

[The Dark Side of Will]

Wasn't there also a $630ishB bailout to foreign banks recently?

The defense budget is so regimented and locked into multi-year contracts and so thoroughly discussed in its development that everybody knows what it says before it's actually written down.

[p8ntman442]

The Birk Economic Recovery Plan

I'm against the $85,000,000,000.00 bailout of AIG.

Instead, I'm in favor of giving $85,000,000,000 to America in a We Deserve
It Dividend.

To make the math simple, let's assume there are 200,000,000

bona fide U.S. Citizens 18+.
Our population is about 301,000,000 +/- counting every man, woman

and child. So 200,000,000 might be a fair stab at adults 18 and up..

So divide 200 million adults 18+ into $85 billon that equals $425,000.00.

My plan is to give $425,000 to every person age 18+
We Deserve It Dividend.
Of course, it would NOT be tax free. So let's assume a tax rate of 30%.

Every individual 18+ has to pay back $127,500.00 in Federal taxes. That
sends $25,500,000,000 right back to Uncle Sam.

But it means that every adult 18+ has $297,500.00 in their pocket.

A husband and wife have $595,000.00.
What would you do with $297,500.00 to $595,000.00 in your family? Pay off
your mortgage - housing crisis solved. Repay college loans - what a great
boost to new grads Put away money for college - it'll be there Save in a
bank - create money to loan to entrepreneurs. Buy a new car - create jobs
Invest in the market - capital drives growth Pay for your parent's medical
insurance - health care improves Enable Deadbeat Dads to come clean - or
else


Remember this is for every adult U S Citizen 18+, including the folks who
lost their jobs at Lehman Brothers and every other company that is cutting
back. And of course, for those serving in our Armed Forces. If we're going
to re-distribute wealth let's really do it...instead of trickling out a puny
$1000.00 ( "vote buy" ) economic incentive that is being proposed by one of
our candidates for President. If we're going to do an $85 billion bailout,
let's bail out every adult U. S. Citizen 18+!


As for AIG - liquidate it.
Sell off its parts.
Let American General go back to being American General.
Sell off the real estate.
Let the private sector bargain hunters cut it up and clean it up. Here's my
rationale. We deserve it and AIG doesn't. Sure it's a crazy idea that can
"never work." But can you imagine the Coast-To-Coast Block Party! How do you
spell Economic Boom? I trust my fellow adult Americans to know how to use
the $85 Billion We Deserve It Dividend more than the geniuses at AIG or in
Washington DC.


And remember, The Birk plan only really costs $59.5 Billion because $25.5
Billion is returned instantly in taxes to Uncle Sam.


Ahhh...I feel so much better getting that off my chest.


T. J. Birkenmeier, A Creative Guy & Citizen of the Republic


PS: Feel free to pass this along to your pals as it0s either good for a
laugh or a tear or a very sobering thought on how to best use $85 Billion!!

[The Dark Side of Will]

Instead, I'm in favor of giving $85,000,000,000 to America in a We Deserve
It Dividend.

To make the math simple, let's assume there are 200,000,000

bona fide U.S. Citizens 18+.

I guess I have to be the killjoy to point out that simple math isn't...

$85B/$200M = $425.00, NOT $425K

[Series8217]

Damn it, Will beat me to it. UBERPWN!!

[The Dark Side of Will]

Wasn't there also a $630ishB bailout to foreign banks recently?

Not exactly... just an increase in the Fed's "swap file" with foreign banks. Why does the Fed have so much latitude with the nation's money when Congres is supposed to be holding the purse strings?

http://www.bloomberg.com/apps/news?pid= ... g&refer=us