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The Bailout Will Kill the Dollar
Dave Lindorff
COUNTERPUNCH
Tuesday, September 23, 2008
What nobody in the corporate media is mentioning amid all the blather about the $700-billion Paulson bailout proposal is the impact it will have on the US dollar.
We are told that this huge gift to the financial sector—the assumption, at top dollar, of all the bad debt they’ve piled up–will be at taxpayer expense, but that’s only the half of it. (Really only the quarter of it because since the US government is technically bankrupt already, spending more than it takes in each year, all that money will be borrowed, and will be added to the national debt, meaning that just as the real cost of the $500-billion Iraq War is closer to $2 trillion, the real cost of the $700 billion bailout will be more like $1.5-2.5 trillion.)
But besides the direct bill handed to taxpayers for this gigantic con, there is the fact that adding that much to the national debt is also going to drive the dollar down precipitously against foreign currencies. We’re already seeing that happen, even while they’re just talking about the bailout. The dollar is falling against all major currencies—the Euro, the Yen, the Renminbi and the British pound. And it will continue to fall as the details of the bailout come out.
This will add to already powerful pressures in countries like Saudi Arabia and China, which hold huge quantities of US dollars and US dollar-denominated debt, to shift out of dollars and into other currencies—particularly the Euro and the Yen. Last week, an article in China’s People’s Daily, which like Pravda in the old Soviet Union, is the official voice of the leadership in China, called for just such a move. Russia is also calling for an end to the dollar as the underpinning of the global economy.
(ARTICLE CONTINUES BELOW)
For some years now, many economists have been predicting an end to the dollar as the world’s reserve currency, but this latest plan by the US Treasury will push such a shift forward from “some day” to “now.”
As long as the dollar has been the reserve currency—the currency in which key commodities like gold or oil were priced, and the currency that exporting nations stocked in their treasuries as a store of value – it was protected against collapse. But once it loses that status, there will be nothing to prop it up any longer, and it will quickly slide to a value that it deserves. We got an inkling of what is going to happen today, as crude oil prices leapt in the short time it took me to research and write this essay (less than an hour!) by 25%, the biggest jump in the history of the oil market. This timely vindication of my point was purely a move caused by loss of confidence in the dollar. There was no oil supply disruption. In fact, demand for oil has been sinking as the economic crisis grows. Oil producers and traders simply realized that the dollar is going poof, so they radically jacked up the cost of oil in dollars.
If you want to see what where the dollar is headed, look to the currencies of the debtor nations—countries like Mexico or perhaps Mozambique. A nation that makes almost nothing, and that imports most of its needs, cannot have a strong currency.
This might not matter much if we had a functioning domestic economy, where people could find the goods and services they needed without turning to sources from abroad. A big country like the US could simply turn inward and function on by its own domestic economic standards.
I remember back when the former Soviet Union was in a state of economic and political free fall in the early and mid 1990s, the currencies of the constituent countries, like Russia, Ukraine and Belarus had had collapsed to virtual worthlessness on the international market. A Byelorussian friend, an engineering professor from Minsk, living and working near me in China at the time, explained that although when he traveled the world, he felt like a pauper, things weren’t so bad back home Belarus, where he and his family would go in the summer. “My apartment only costs a few dollars a month to rent,” he explained, “and our food is bought on the local market using rubles, so it is very affordable.” The same was true for other needs, like clothing and books for school, he explained. The only problem was buying gas for his Russian Volga. “Gas,” he explained, “is priced as an international commodity, so it takes me one month’s wages in Belarus to buy the gas to drive once to and from our country dacha.”
You can start to see the problem. Since agriculture has been killed off in most of the US, in favor of giant agribusiness enterprises situated in the western part of the country and some parts of the Midwest, most people elsewhere will not have local produce available, and the cost of transporting food from California to places like New York or Pennsylvania will be prohibitive once the dollar collapses, since oil is priced internationally. Meanwhile, goods like TV sets, computers, phones, cars (or at least the key components of cars), clothing, etc., are no longer even made in the US, and will thus be completely unaffordable. As for the service jobs that are supposed to have replaced our old manufacturing sector, no one will be interested in buying what they’re offering, because they’ll be scrimping just to buy the key staples they need to survive, so of course joblessness will soar.
Eventually, of course, entrepreneurially minded people will begin establishing local farms again where they once flourished generations ago, and small factories will be built to provide key essentials, but all this will take time, and will have to cater to a market of people operating at a much lower standard of living.
The banking sector, meanwhile, which is the proximate cause of this monumental disaster, won’t mind any of this, for it will continue operating on the international stage, shifting its focus to lending money (no longer dollars, though), to growing economies in Asia and Latin America and eastern Europe. And this is what, in truth, the “rescue” of Wall Street is all about.
It’s not about saving Main Street, as Paulson claims. Main Street, under the bailout, is toast. It’s about helping the banks and investment banks and insurance companies that brought on this crisis to ride it out in style, their astronomical losses bankrolled or absorbed by the American public, so that they can shift their operations overseas and continue with their rape and pillage of the global economy.
The US will be left behind, a smoking ruin, with Americans, like Weimar Germans before them, going shopping with wheelbarrows full of worthless green paper to exchange for a few days’ groceries.
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97 Responses to “The Bailout Will Kill the Dollar”
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September 23rd, 2008 at 9:56 am
I thought it died years ago !!!!!!!!!!!!!!
http://www.youtube.com/watch?v=e7vb1ZtmMIE
September 23rd, 2008 at 10:10 am
It would seem that this is only the means to get the American people to accept a new currency. The Amero comes to mind… Hmmm….
September 23rd, 2008 at 10:23 am
R.I.P.
September 23rd, 2008 at 10:24 am
Yep, the dollar is breathing it’s last.
September 23rd, 2008 at 10:39 am
The dollar has always been dead, so has all forms of so called money. People, wake up, the valuation of life begins with the quality of life, not in material possesion. How can you value anything by seeing through the eyes of fear?
September 23rd, 2008 at 10:59 am
UHA. I wrote about this about 6 months ago on a ABC blogg.
I basicaly said.
The way the world deals and opperates is out of date, old hat.. We need somthing for now days.
I explained, we run on a faulty flawed system that is designed to rupture.
This is a prehistoric system of trade that always, and I mean always leaves people hungry and left behind. Finaly and unfortunatley..
Now it’s proof.
It also has no Resemblance of the peoples willingness to work, or a Resemblance of fuel from their hard or worthless work. (That ‘fuel’ could mean either Oil or food)
“One day I thought I was doing it tough, I was mad resentfull and full of remorse.
then I opened my eyes.
I looked to others, I realized It could be worse
and why should anyone be worse off than me.
And then I was miserable”
Brad Senese
September 23rd, 2008 at 11:24 am
Dennis Kucinich’s web site mentions $500 Trillion in derivatives. The unwinding cannot be stopped.
http://kucinich.us/index.php?o.....p;Itemid=1
Had enough?
September 23rd, 2008 at 11:26 am
along with this economical tragety, did people aslo hear about yeasterdays 9/22/2008 government admitting to 1 battelion from a few Brigades of U>S. troops were to be dispatched to locations in the Continental U.S. to begin Terrorist type training in certain locations of the troops deployment in the U>S>. This happened Yesterday- but with how the economy is going is how the troops dispatched are going to impliment Marshel Law very soon. Possilby By Oct. 01,2008 to Mid October 2008. Wait and see.. Also those who read this- Check on the info about the troops I mentioned and the locations of the trooops direction of duties.
Your Native American Patriot,
trubreed18 aka Wupotteka
September 23rd, 2008 at 11:41 am
There will be no other cuurency. Just a chip with a number that corresponds to each of us. Instead of Dollars, you will buy and sell in credits or units. The tax man will love this. No more under the table cash jobs to cheat him. Crime will change too. The olny crime left will be to steal things but not money. The time of transition to get to this chipped society will be terrible. Many will die. I expect to see martial law, gathering of all people and the killing of the worthless and weak. If you don’t have a skill or some kind of usable purpose, you’ll be shot. If you’re handicaped, you’re dead. Old, gone.
These are the end days. Get used to it. You can’t stop it. All you can do is turn to God. The bad time will be short. God will remove the believers before there’s much time to think about fighting. Most everything you read on PP is true. What makes me angry is that nobody tells why these things are happening. It’s in the Bible. It’s so simple. We are in the time of sorrows. You have some time, but very little. “For the Devil sends the Beast with wrath because he knows his time is short”. Wake up everyone, except Jesus Christ as your savior. There’s gonna be one heck of a party. Don’t get left off the guest list.
September 23rd, 2008 at 11:49 am
Further more..
It does not help to treat leaders, or most leaders like they don’t have a heart..
If you were in a position would that help?
Could it be time for different approach?
Sureley it must be a great time to be creative under such circumstances, reinvent, encorage, express and educate.
Naming leaders and singeleing out just dosent seem to work..
It has always been our job to voice what we want and for them to ‘consider’. History shows much Success in voice and communication. (as well as failures)
Persistance.
‘Focus on what you want’! Not what you dont want. Just maybe there is truth in that.
September 23rd, 2008 at 11:56 am
Crack me up Michael.
That was a way creative post.
Where that is the case I dont think Jesus will be hanging around chilling out or having a beer on the side line. He would be doing OT.
September 23rd, 2008 at 12:01 pm
Michael.
A if a small electrical device can scramble your meridian flows.. What could a chip do?.. More one would think.
I would bite kick and punch the shit out of atleast two armed Men before I saw myself shot before being implanted due to my actions.
I duno about you. But I would not live on this planet implanted.
Neither would many..
There ya go! population reduction!
September 23rd, 2008 at 12:23 pm
You cannot kill that which is already dead.
http://illumatrix.proboards105.com/index.cgi
Come discuss this worldly nonsense.
Your points matter.
.
.
..
September 23rd, 2008 at 12:32 pm
CEOs get huge BONUS in USA for Failing (coming to a USA near you)
You see human nature comes out when you least expect it. CEOs are accountable for the millions they rake in and the Politicians are lining up at the feeding troth to get more money for thier Bailout… where it stops no body knows….
should be top AJ story, but he has been asleep at the wheel
September 23rd, 2008 at 12:35 pm
You can’t look at those eyes and not think of what being an American has meant.
Now there’s an end to it.
Soon, there will be no America.
We’ll be history, quickly lost and distorted, like Mr. Lincoln himself…
I suppose there will have to be new revolutions, with new generations who will have to discover the values which our forefathers handed down to us.
If those truths stop being real, maybe it’s better to let them go, to let some new generation discover, as though for the first time.
Maybe freedom is just one of those things you can’t inherit.
September 23rd, 2008 at 12:39 pm
I mean, being a Freedom Fighter, a – a force for good, it’s – it’s a wonderful thing.
You get to make your own hours, looks good on a resume, but the pay – sucks.
September 23rd, 2008 at 12:41 pm
Corporate India is in shock after a mob of sacked workers bludgeoned to death the chief executive who had dismissed them from a factory in a suburb of Delhi.rnrnLalit Kishore Choudhary, 47, the head of the Indian operations of Graziano Transmissioni, an Italian-headquartered manufacturer of car parts, died of severe head wounds on Monday afternoon after being attacked by scores of laid-off employees, police said.
Now you see why Pakkistanis belief in Moses more then India!
September 23rd, 2008 at 12:42 pm
No dictator, no invader can hold an imprisoned population by force of arms forever.
There is no greater power in the universe than the need for freedom.
Against that power tyrants and dictators cannot stand…
Though it take a thousand years, we will be free.
September 23rd, 2008 at 12:46 pm
Forgive me, Mr. President, but they (Bankers, Politicians, Communists) hate us with every fibre of their existence.
We love freedom.
We love independence.
To feel, to question, to resist oppression. To them, it’s an alien way of existing they will never accept.
September 23rd, 2008 at 12:50 pm
Freedom of choice, to choose between one thing or another, between one action or another, between good and evil, is the cornerstone of our civilisation.
The BAILOUT is just stealing from the Poor to give to the Rich!
Say Yes, and you will be doing this til you can no longer finance the Rich running this country into the ground when they shipped all Middle Class jobs to Mexico and China…
September 23rd, 2008 at 12:50 pm
The movie ran through me
The glamour subdue me
The tabloid untie me
Im empty please fill me
Mister anchor assure me
That baghdad is burning
Your voice it is so soothing
That cunning mantra of killing
I need you my witness
To dress this up so bloodless
To numb me and purge me now
Of thoughts of blaming you
Yes the car is our wheelchair
My witness your coughing
Oily silence mocks the legless
Boys who travel now in coffins
On the corner (corner)
The jurys sleepless (sleepless)
We found your weakness (weakness)
And it’s right outside your door
Now testify
Now testify
Its right outside your door
Now testify
Yes testify
Its right outside your door
September 23rd, 2008 at 12:52 pm
Bailouts needed are over 89 Trillion dollars , what we see now are the tip of Ice Berg.
They need the demolish this model and strat from stcrach. With No place for Lobbiest(legalised BRIBES) in the structure!!!
September 23rd, 2008 at 12:53 pm
@Packy Stani
You know? It’s sad to be at the point where this seems like great news, but we didn’t get her on our own. And so, GREAT NEWS! Good to see Indian workers standing up for themselves. Now, if American workers would only take a page from that book….
September 23rd, 2008 at 12:55 pm
@Packy Stani
I could go for that kind of reaction here in the U.S. instead of paying these CEO’s millions for the kind of substandard performance that would get anyone else fired. And, seize all their property too just like they would us in a Bankruptcy Proceeding.
September 23rd, 2008 at 12:57 pm
With precision you feed me
My witness Im hungry
Your temple it calms me
So I can carry on
My slaving, sweating,
The skin right off my bones
On a bed of fire Im choking
On the smoke that fills my home
The wrecking ball is rushing
Witness your blushing
The pipeline is gushing
While here we lie in tombs
While on the corner (corner)
The jurys sleepless (sleepless)
We found your weakness (weakness)
And it’s right outside your door
Now testify
Yeah testify
Its right outside your door
Now testify
Now testify
And it’s right outside your door
September 23rd, 2008 at 1:01 pm
After he bailed out Lehman the CEO’s took about 2.6 Billion in pay packages for destroying the company. I am sure Paulson is worried about the millions he is about to lose more than anything. Also, not only that but the cash Bull is being slain. Now there is the concern that when Americans lose their jobs and the price of everything goes up as the value of the dollar goes down; they could get restless.
Crime is on the rise, chaos could be on the way but From the looks of all the gold and silver and oil rising at the prospect of this bailout, I like it even less and if they are able to pull off this mother of all heists, the impact on average Americans will feed a revolt.
Now that Paulson is ready to bail out his old friends at Morgan and Goldman and some of the Chinese banks they bought up!
September 23rd, 2008 at 1:04 pm
It is not a good day, if you are not looking good
This is the best party that I’ve ever been to
Today I asked for a god to pour some wine in my eyes
Today I asked for someone to shake some salt on my life
Look !
Everything’s spinning
(We’re on the ground)
Never cheer before you know who’s winning
(Don’t make a sound)
Sniff the glass and let it roll around on you tongue
Let me introduce you to someone before the party is done
Someone to look to in need or in want or in war
If you give hime everything, he may give you even more
This is the best party I’ve ever been to…
this is the best party ive been to
FNM
September 23rd, 2008 at 1:07 pm
Rhinox has made his choice. If we change his mind then we’re no better than Megatron. Let him go now. Without Free Will, Freedom isn’t really Freedom at all. I pray in time you understand that.
9991
September 23rd, 2008 at 1:10 pm
@Packy Stani
“Corporate India is in shock after a mob of sacked workers bludgeoned to death the chief executive”
USA CEO’s please take note. Even your Blackwater dudes can get pissed at you.
September 23rd, 2008 at 1:16 pm
@Packy Stani
Regarding CEO in Inda…
Maybe these people could administer Bush’s Disasternomics bailout plan!
September 23rd, 2008 at 1:22 pm
Well if we dont identify the problem and those who are part of the problem we are destined to repeat the mistakes. As history clearly demostrates this. So I agree we need to focus on solutions and while we do that we need to seek criminal justice agianst those in governmnt who swore the oath and their masters the zionist!
September 23rd, 2008 at 1:39 pm
$13 Billion in Iraq Aid Wasted Or Stolen, Ex-Investigator Says
By Dana Hedgpeth
Washington Post Staff Writer
Tuesday, September 23, 2008
A former Iraqi official estimated yesterday that more than $13 billion meant for reconstruction projects in Iraq was wasted or stolen through elaborate fraud schemes.
Hey maybe Bernake can roll this loss into a financial statement and we can just add 13Billion to the Deficit twice!!! Thank you Bernake you will be remembered years from now as a HERO!
September 23rd, 2008 at 1:42 pm
I thought we could pay off the mortgage and buy some savings bonds.
September 23rd, 2008 at 1:49 pm
@DR WHO
“$13 Billion in Iraq Aid Wasted Or Stolen, Ex-Investigator Says”
Wow, and that is all they are willing to admit to the American People right now eh? Whats a couple BILLION among friends anyway
September 23rd, 2008 at 1:53 pm
@Packy Stani
ANY LEGAL RECOURSE?
Is there anyone out there in the Legal field who can tell me if, We The People/Taxpayers, can in any way, SUE the Administraion for all the Money that has been squandered, Wasted & Stolen from the us? Isn’t there any type of Fraud Precedent with which to SUE?
September 23rd, 2008 at 1:58 pm
Its all intended ..America the country is dead, its purpose void .. The Builderburg ers have already move their power structure back to europe .And the Euro in their hands has become the new dollar ..the power elites have lost nothing.
This time they have an Army bigger than no other seen on the face of the earth ..all controlled by the U>N.
Once the fires of America have burnt out.. from the ashes the pheonix of a North American union will be Born and the merry go round of slaughter and global fraud will continue.
September 23rd, 2008 at 2:04 pm
There will be no glory in your sacrifice. I will erase even the memory of Sparta from the histories! Every piece of Greek parchment shall be burned. Every Greek historian, and every scribe shall have their eyes pulled out, and their tongues cut from their mouths. Why, uttering the very name of Sparta, or Leonidas, will be punishable by death! The world will never know you existed at all!
300
September 23rd, 2008 at 2:04 pm
New is Better! remember that OLD saw? lol. bring on the Amero…I don’t have any dollars left anyway.
http://ca.youtube.com/watch?v=Vv3yuRdD2oE
September 23rd, 2008 at 2:09 pm
Persian: A thousand nations of the Persian empire descend upon you. Our arrows will blot out the sun!
Stelios: Then we will fight in the shade.
September 23rd, 2008 at 2:13 pm
Good luck trying to explain this to people. Make sure you try. Do we all understand that massive warfare is an upcoming step? Our ancestors must be sad, seeing this world being manhandled again by the money-changers and war mongers, we did not learn and were not taught the history that is repeating itself, so we must now learn first hand why we are “doomed” to repeat it.
Man up and prepare for suffering.
September 23rd, 2008 at 2:20 pm
“The incoming Treasury secretary, Henry M. Paulson Jr., was awarded an $18.7 million cash bonus for half a year of work as the chief executive of the Goldman Sachs Group.”
The massive bonus was, not surprisingly, approved by Goldman Sachs at the very same time Paulson was both CEO and Treasury Secretary designate. This raises a very simple question: What is Goldman Sachs buying with this brazen PAYOFF to someone they knew was headed to one of the most powerful government posts in America?
September 23rd, 2008 at 2:27 pm
The most high profile before Paulson’s was the payoff Halliburton gave to Dick Cheney in the form of a truckload of “deferred compensation” valued in the tens of Millions. At the time, those who raised questions about what such a payoff would buy were dismissed by the Washington Establishment as conspiracy theorists.
The insiders who populate this Establishment, of course, are addicted to the revolving door, and they didn’t want anyone questioning it. Now, just a few years later, we found out that, indeed, Halliburton’s generosity to Cheney was a payoff, as the Vice President used his office to help the oil company secure huge government contracts in the aftermath of the Iraq War.
So again, a simple question: With Goldman Sachs handing incoming Treasury Secretary Henry Paulson an $18.7 million bonus for six months of service, what is the company looking for in return? After all, Goldman Sachs has had a lot of business before the government that Paulson’s Treasury Department has been involved in and can influence…
September 23rd, 2008 at 2:38 pm
A piece of mail
A letter head
A piece of hair
From a human head
They’re sayin’ to me
“I should’ve killed it”
“I should’ve killed it”
“I should’ve killed it before”
You’re right, you’re right
“Kill the body and the head will die”
They’re laughin’ at me
“I should’ve learned it”
“I should’ve learned it”
“I should’ve learned it before”
- What a day, what a day
If you can look it in the face
And hold your vomit
A wet sneeze and a “no left turn”
A row teeth and an encouraging word
Beneath a mile of skin
“I should’ve noticed it”
“I should’ve noticed it”
“I should’ve noticed it before”
What a day
What a day
What a day
September 23rd, 2008 at 2:59 pm
For those new to the US Financial Meltdown taking place, Ron Paul explains how the extreme government intervention proposed by neo-fascists Paulson and the rest of the Bush Administration would in fact hurt the people.
Any time you plunder the living day lights out of responsible individuals in order to back stop the mistakes of the ignorant, greedy and/or corrupt, you are setting EVERYONE up for failure.
NO TAXPAYER BAIL OUTS FOR NWO STOOGES.
September 23rd, 2008 at 3:08 pm
Youve been Thunderstruck
September 23rd, 2008 at 3:11 pm
“The wealth and prosperity of ancient Rome, relying on her slaves to do the real work of the nation(food, energy etc..), proved the nation’s downfall. The constant dependence on the captives of war to do the thousand details of life for them, killed SELF-RELIANCE in the nation and the individual. Then through weakened self-reliance and the increased opportunity for idle, luxurious ease that came with it, Rome, a nation of fighters, became,- a nation of men more EFFEMINATE then women!”
The dollar is OUT, the Amero will be IN —
Check my blog for more info at:
http://commendatori.wordpress.com/
September 23rd, 2008 at 3:13 pm
Back in black
I hit the sack
Gone so long I’m glad to be back
Yes, I’m gettin’ loose
From the NOOSE
You gotta catch me if you want me to hang
I’ve been looking at the sky
‘Cause it’s gettin’ me high
Forget the hearse ’cause I never die
I got nine lives
Cat size
Usin’ every one of them and I’m runnin’ wild
CHORUS:
‘Cause I’m Back
Yes, I’m Back
Well, I’m Back
Yes, I’m Back
Well, I’m Back, Back
(Well) I’m Back in BLACK
Yes, I’m Back in BLACK
September 23rd, 2008 at 3:15 pm
King Leonidas: Well, that’s an easy choice for us, Arcadian! Spartans never retreat! Spartans never surrender! Go spread the word. Let every Greek assembled know the truth of this. Let each among them search his own soul. And while you’re at it, search your own.
September 23rd, 2008 at 3:19 pm
Chris Dodd and Barack Obama received the most donations from Fannie Mae and Freddie Mac between 1989 and 2008 reports Open Secrets. Bush and the Republican neo-fascists are some of the most terrifying people in America, but the Democratic neo-socialists are right up there. Left and right, these people work to undermine the already fragile system of Freedom here in America. How about we restrict the government to enforcing rules against Fraud and Abuse? Is that so hard??
September 23rd, 2008 at 3:26 pm
People are rightfully drawing parallels to the push for the Iraq War in relation to the push for the
“Great Bail Out of 2008″.
Another valid analogy includes the rushed passage of the already written (sic) USA PATRIOT Act just weeks after 9/11, which has hammered our free society ever since.
Look up: “problem, reaction, solution” if you want some insight into how scheming people seek to gain power
September 23rd, 2008 at 3:42 pm
“Feds suggest bailout or bust – dire warnings to congress” CNN 6:33pm EST
Wasn’t it just a week and a half ago when they were still denying “recession”? Even on a talk radio program this morning at work “recession” was dismissed. Paulson was telling us that the financial system was strong just two weeks ago. So now it’s bailout or bust huh? Sounds like a sales pitch to me. Remember how fast congress was to give powers to Bush after 911? Now they’ll TELL you that they should have been less hasty but will they act to reverse what has been done? NOPE. Have they continued to provide all the money for the ILLEGAL WAR? You bet. Are they going to give more free money to the bankers? Yup. Depending on how bad things get in the next few years I can imagine they’ll be saying they should have held back their purse strings once again and if history shows any signs of our future then those words are all we’re going to have for our money.
September 23rd, 2008 at 3:44 pm
http://docs.google.com/TeamPre.....&pli=1
September 23rd, 2008 at 4:07 pm
Please move along. Nothing to see here.
September 23rd, 2008 at 4:42 pm
What does Jesse Ventura think of the Bailout?
September 23rd, 2008 at 6:05 pm
There is no limit to the follies of this chemical reaction
Bathed in blood and drowning in distraction
They control you
With your failure to see what you are
A piece of it all
And a speck from afar
I’m speaking to you
From birds eye view
And all your worry for wealth
And the collapse of a set of laws
Is what they built into your health
Your care for such shows your flaws
Since birth, you’ve been stimulied into slavery
Now earth, is a prison built of your concavery
Transcend beyond the ape
To change this landscape
Pull back your DNA’s drape
Find yourself learn to escape
Wrote that just for you guys(in less then a minute), troubled over your finances and your world standing. To those of your focused more on the invading control this is leaning towards, keep up the state of mind.
September 23rd, 2008 at 6:18 pm
The rich is getting richer and richer and richer while the middle class is getting more poor… Making billions and billions and billions of bucks… well my friend if you weren’t already rich at the start well that situation just sucks cause the riches mother f***er in five of us is getting ninety fuckin eight percent of it and every other motherf*er in the world is left to wonder where the hell we went with all that money Obscenity? I’m a Senator I gotta raise $10,000 a day every day I’m in Washington! I ain’t getting it in South Central… I’m gettin it in Beverly Hills.So I’m votin from them in the Senate the way they want me too and-and-and I’m sending them my bills.
Pick up the tab Biotch
September 23rd, 2008 at 6:24 pm
we should demand the gold in fort knox because it belongs to us
September 23rd, 2008 at 6:25 pm
News announcer: Congress heard testimony today from Children who testified they were ‘exploited’ by Sweatshops Overseas…
September 23rd, 2008 at 6:32 pm
There’s no excuse for allowing the collapse of the U.S. economy to happen.
No amnesty, no pardons.
Pursue the Bush administration beyond January 20 until they are brought to justice.
FREE AMERICA
REVOLUTIONARY (DIRECT) DEMOCRACY
September 23rd, 2008 at 6:36 pm
It is to all intents and purposes a National Suicide note of the United States of America, a Contract with the Devil that absolutely guarantees irrevocable national decline.
For any person of goodwill there can be only one impulse at the present moment, and that is to Stop This Bailout — to BLOCK IT, to Sabotage it, to Bottle it up, to load it with Killer amendments, and to do everything legally possible to stop this Insane design from going through.
September 23rd, 2008 at 6:40 pm
@Daytrader
How bout we load it up with killer ammendments to Restore the Constitution, Impeach Bush/Cheney, oh and last but not least… get our troops back home ASAP. Let the ARABS take care of thier oil as we have plenty in the Gulf of Mexico and Alaska we dont need an Illegal, Undeclared WAR for the next 100 years….
September 23rd, 2008 at 6:59 pm
How else are we to get canada,mexico and the us to share a currency? all part of the big plan. Prepare and protect your family stock up on food and protection time is short. for a wise man prepares for 6 years because the 7th the land lays idle.
September 23rd, 2008 at 7:09 pm
IT’S TOO LATE! OUR(NOT!)GOVERNMENT HAS BECOME OUR MASTERS!
September 23rd, 2008 at 7:09 pm
Paulson wants to steal. 1.3 trillion dollars to save Goldmans and Morgan the companies he worked for and is invested in. So why not just give the guy what he wants, whats a couple TRILLION among friends…
September 23rd, 2008 at 7:21 pm
Rumsfeld couldn’t account for the missing 12 Billion at the pentagon. There’s more than 13 Billion unaccounted for in Iraq. The Republicans always say you have to run the government like a business. No wonder the country is headed for an Economic Trash Heap. The disaster of the Bush administration will “Live in Infamy” (Sound Familiar?) in the annals of our history for generations to come. Vote republican at your peril!
September 23rd, 2008 at 7:30 pm
The sub-prime and credit crises will now cost $700 BILLION dollars to “fix.” That’s a Government-estimated figure.
They also estimated the Iraq War – excuse me, ‘Operation Iraqi Freedom’ – would cost $2 Billion (and would be over in 6 months!)
If we want the US Government to help “fix” problems that they caused in the first place, it will come at a price. ‘We the People’ will now surrender our own free market rights, pay for it out of our own pockets, and say thank-you-sir-may-I-have-another.
How much money can they steal in this manner and Paulson wants this to have no Legal Recourse. WHY? They would hate the people to be able to hold anyone accountable as they perform the Biggest Tax Increase on the American People in History!
September 23rd, 2008 at 7:35 pm
When you have a population of people so willing to abdicate their power, it shouldn’t be a surprise when they get taken advantage of.
The willfully ignorant can wipe their asses with dollars. It will help them BUILD CHARACTER.
September 23rd, 2008 at 7:51 pm
This scandal would destroy the American people’s faith in their government. It would destroy our credibility all over the world. This is why a Third Party Candidate like Jesse Ventura is way past due.
September 23rd, 2008 at 8:07 pm
Men: Hello, we’re from the US Government, and we’re here to help. We’re going to ROB you for your own good.
Taxpayer: What are you talking about?!! I don’t want to be ROBBED…
Men: Sir, we understand. But our records indicate that you are a Taxpayer. Is that correct?
Taxpayer: Of course I pay taxes — So What?
Men: So, we’re Robbing you. It really is for your own good. In fact, if we don’t rob you, the entire Banking System will COLLAPSE. You have heard the bad news about the big banking Bailout, haven’t you sir?
Taxpayer: Look, I don’t even have very much money in the bank. Lots of people have a lot more money than I do. Why don’t you go rob them?
Men: There’s no need to make this about yourself, sir. We are going to ROB everyone who pays taxes — trust me.
Taxpayer: This isn’t right. I’ve played by the rules for years. This is America.
Men: It is indeed, sir. And we’re from the American Government. And c’mon, sir — are we supposed to believe that you never took out a subprime loan, never leveraged your home equity into a second and third mortgage, never maxed out four separate credit cards at once, never tried to buy and flip a couple of houses for a fast buck, or that you never speculated even a little bit in the commodities market with your retirement fund?
Taxpayer: No, no, no — I didn’t do any of that stuff. Of course I’ve got a retirement account, it’s in Treasuries, money markets and a stock index fund. I’ve got two kids in college. I can’t afford to get robbed.
Men: We’re not here to congratulate you for being a straight arrow, sir. We’ve come to rob you for your own good. Resistance is futile. Maybe next time you’ll go along and raid the candy store when you get the chance. Lots of people did . That’s pretty much why we’re here to rob you — for your own good, of course.
Taxpayer: Okay, okay… but… well, if I stop paying taxes? Will you please not rob me then?
Men: That’s not a good idea, sir. If you Stop Paying Taxes we’ll throw you in jail and ROB you anyway.
Taxpayer: This sucks. I’m calling a Lawyer.
Men: Yes sir, I’m sure he’s a taxpayer too. Let him know that if we haven’t been to his house already, we will be soon.
Oh by the way it is only $2,300 for all 300 Million plus Americans! For now…
September 23rd, 2008 at 8:30 pm
This was all in the works for along time to make the USA a third world country, When they sent our jobs overseas, who was going to buy the junk they sent back.
September 23rd, 2008 at 9:04 pm
From Paulson’s fascist proposal
—-
“Sec. 8. Review.
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.”
—-
CALL, FAX, AND EMAIL CONGRESS , ITS HAVING AN EFFECT
—–
contact info and form letters up at:
http://globaleconomicanalysis.blogspot.com
September 23rd, 2008 at 9:06 pm
All joking aside, this is exactly what Presidential Directive 51 has been written for. First G.W. and his buddies brought us 9-11 to set things up. Now they’ve killed the dollar. When the total fall of the dollar comes and the people start killing each other for food and other basic needs, G.W. will declare PD 51 and martial law and then the real killing begins. A.J. has given you all bits of the puzzle. Can’t you guys get it? Eugenics, population control, slavery.
Once P.D. 51 is in effect, Nazi Germany will look like a county fair. I don’t want this stuff to happen and I don’t claim to be an expert. But I’ve read dozens of books about Freemasonry, cults, The NWO and the like since ‘91. My first book was En Route to Global Occupation by Gary Kah. It was given to me by my Grandfather who happened to be a Shriner at the time. Years later he denounced Freemasonry and accepted Christ. I’ll never forget as long as I live the speach by #41’s call for a “New World Order”. I hadn’t read any books on the subject but something in my sole stirred and I knew it wasn’t good. About a month later I got my first book and it all started coming together.
As I see things unfold before my eyes, it just all makes sense to me. It doesn’t surprise me or upset me. Granted, there sure are a lot of things I’d like to do but it looks like I’ll run out of time before I get a chance. All I know is that more than anything, I want to tell you all to read your Bible and except Christ. It’s the only answer. I did the Michigan Militia thing, I bought all the guns. I got all the stuff to kill lots of people. I’d bet it all that I won’t ever get the chance to use it. C’mon folks. This is much bigger than a bunch of greedy people robbing the till. These people are creating Satan’s Government. You can’t stop it. At best you can delay it. But for how long?
Eternity is absolute. Where you spend it is not. You can live forever or die forever. Choose!
You can choose a ready guide in some celestial voice.
If you choose not to decide, you still have made a choice….
September 23rd, 2008 at 9:23 pm
Flashback:
March: Bear Stearns’ bailout.
April: The biggest first quarter revenue loss in Citigroup Inc.’s entire 196-year history and a 77% plunge in Bank of America profits.
July 14 to July 18: The third largest bank failure in U.S. history and bank run: IndyMac.
September 7 to September 9: $200 billion rescue of indebted mortgage giants Fannie Mae and Freddie Mac.
And, the #4 investment bank Lehman Brothers suffers a 90% drop in its share price. Bankruptcy is inevitable…
Nothing to see folks, we are NOT in a recession…
September 23rd, 2008 at 9:27 pm
Behind the scenes conversation with a Senator:
This company’s circuling the drain, I tell you! I’d sell my shares right now for a sandwich.
September 23rd, 2008 at 9:29 pm
You were declared bankrupt. You have been banned from running any company from sitting on any boards or dealing with any shares. They don’t even want you past the Stock Exchange on a bike!
September 23rd, 2008 at 9:38 pm
John Quincy Adams: Well, gentlemen, I must say I differ with the keen minds of the South and with our President, who apparently shares their views, offering that the natural state of mankind is instead – and I know this is a Controversial idea – is Freedom. Is Freedom. And the proof is the length to which a man, woman or child will go to regain it once taken.
He will break loose his chains.
He will decimate his enemies.
He will try and try and try, against all odds, against all prejudices, to get home.
September 23rd, 2008 at 9:41 pm
Our economy is based on Zero. It is based on nothing….Credit..is just giving you money that you don’t have based on a Made Up Value, and then someone else makes money off of it by charging Interest on the invented value…but there is never a bottomline of value. This is so screwed up.
Give America more “blue sky”….Perhaps it is the only way to keep the Scam going, but for Goddess’s sake…there is nothing backing the so called credit. It is Good money after Bad…what a friggin’ mess.
I’ll gladly pay you on Tuesday for a hamburger today.
September 23rd, 2008 at 9:57 pm
I don’t know. It doesn’t matter. All that matters is that the price goes up. You know, and the volume is so high that the number of shares we’re trading is not going to affect the price.
September 23rd, 2008 at 10:19 pm
Wall Street was dominated by linear models that assumed rational investors and efficient markets. Non-linear events didn’t fit those models.
But now Wall Street has been hit by the equivalent of a “Rogue Wave,” the 100-foot wall of water that suddenly swells up in a perfectly calm ocean — mariners spoke of them for centuries, while oceanographers dismissed them as fable. Satellite photography has conclusively proven the mariners right.
Statistical models are linear by nature, based on averages and probabilities. Some can account for the outliers, but will assign them a probability of appearing only once in a thousand years. Your reliance on these assumptions can be measured by the shock you feel over the demise of Wall Street in the space of one week.
Yes, why not tax the poor man to make sure the rich still get to keep thier million dollar CEO pay. We can afford it, the debt will be passed onto your children anyway. Of course all this debt makes the dollar worthless, keeps the housing market over inflated, and will stifle economic growth by offering no real help to those who are losing jobs and getting foreclosed on. But Wall Street needs your help… call Wall Street right now and let them know you will more then gladly saddle yourself and your family and all your neighbors too! We need to keep the big guys from falling….
September 23rd, 2008 at 10:35 pm
Now the MSM is floating stories about alternatives to the bailout. Not sure if they’re just pretending to have a little credibility or not? Will the bail out just get rammed through or has there been a change of plans?
September 23rd, 2008 at 11:13 pm
Maintain peace of mind. Whatever it is that gives you peace, you must seek such.
Without personal peace, no other quality rational action is possible. Emotions must be processed and dealt with appropriately. Find personal peace first. Fear not.
This is the essence of what I would advise all individuals in our current situation.
As for Paulson. Paulson lied through his teeth and said that the plan was put forward expecting input to follow from Congress on how to set up Oversight.
Yeah, right. That would explain why they included the Language specifically OUTLAWING Oversight. He’s welcoming discussion of oversight now because he knows it’s the only way his grubby paws will ever get close to the Money. He can count on Bush to do a signing statement stripping out the Oversight.
September 23rd, 2008 at 11:31 pm
Act without doing;
Work without effort.
Chapter 63
Nonaction or inaction is almost a heretical thought in Western society. However, true ‘wu wei’ is the most Efficient action possible, the most Spontaneous and often the most Creative action. It is NOT a life of a sloth or laziness, but one in which the least possible effort yields the most effective and productive outcome. Actions come from a more intuitive area of the Mind.
September 23rd, 2008 at 11:38 pm
Rufus: Hi. Welcome to the future. San Dimas, California, 2688. And I’m telling you, it’s great here. The air is clean. The water’s clean. Even the dirt… is clean. Bowling averages are way up. Mini-golf scores are way down. And we have more excellent waterslides than any other planet we communicate with. I’m telling you, this place is great. But it almost wasn’t. You see, 700 years ago the Two Great Ones ran into a few problems. So now I have to travel back in time to help them out. If I should fail to keep these two on the correct path, the basis of our society will be in danger. Don’t worry. It’ll all make sense. I’m a professional.
September 23rd, 2008 at 11:48 pm
Q: How can you be a follower of another religion and be a follower of Matrixism at the same time?
A: From the perspective of Matrixism it is quite easy. Unlike most other religions, the path of the One doesn’t have an exclusivity clause as part of its canon. This is another significant and unique part of Matrixism that further differentiates it from other religions.
Q: Do Matrixists believe that the reality we live in is actually a computer generated simulation?
A: Of course not. Matrixism looks at the “computer simulation” aspect of The Matrix as a metaphor for the rules, norms and values of our current society. This metaphor also refers to the relationship between reality, simulations of reality (i.e. television, radio, etc.) and the workings of our collective consciousness. This subject is addressed in Simulacra and Simulation by Jean Baudrillard. Though this book makes a cameo appearance at the beginning of The Matrix it is generally agreed upon that The Matrix is not entirely in line with what Baudrillard has asserted.
September 24th, 2008 at 12:02 am
Can you remain unmoving
Till the right action arises by itself?
Onto the BAILOUT that is being pitched against the American People. The guilty parties won’t have to pay, and the Chinese Government, the “Top Foreign Holder of Fannie Mae and Freddie Mac Bonds,” won’t have to learn a lesson about investing. Politicians are shifting all that greed and stupidity onto the innocent, the by-definition prudent, American taxpayer and saver.
In Effect we are saving the Chinese while screwing the taxpayer who actually had nothing to do with China’s choice to make the investment. There is always risk with every investment and the taxpayer is being asked to cover the Chinese…
September 24th, 2008 at 12:59 am
Identify the fraudsters that caused this debacle. Strip them of their assets, try, convict and give them lengthy prison sentences. Then we can talk bailout if and only if new regulations are put in place and enforced to make sure this never happens again.
September 24th, 2008 at 1:02 am
“Just because God created the world in seven days doesn’t mean we have to pass this bill in seven days,” said Rep. Joe Barton, R-Texas.
Another influential Democrat, Sen. Max Baucus of Montana, proposed tax penalties on the compensation of top executives who earn more than the U.S. president; their pay would only be tax-deductible up to $400,000. Large Golden Parachutes also would be taxed heavily under the plan by Baucus, the Finance Committee chairman.
Paulson says such limits would discourage participation in the program.(IF THEY DONT LIKE IT THEY DONT HAVE TO PAY THEMSELVES MILLIONS WHILE THEY BANKRUPT THE COUNTRY)
September 24th, 2008 at 1:12 am
O weee O
Its time to sell our country down the
Hole Eee Ooo
Its time to let them make them jobs
go round and round til only one left
I said O wee O do you see the writing
on the Wall Eee Ooo
They say if you dont like the Communism
then Go Eee Ooo
I say who the hell are you to tell me
what to do
We understand your Hate for us
Liberty will have it say on you
dont worry
O eee O
September 24th, 2008 at 2:33 am
THE GOVERNMENT ARE COMING TO GET YOU YOUR MONEY, YOUR WIFE, YOUR CHILDREN AND THEN YOUR SOUL ONE BY ONE YOU WILL BE STRIPPED BARE THE EYE OF SAURON IS ON AMERICA USING HIS PUPPET SAURUMAN(MASONRY/ILLUMINATE) BANKING ELITES TO DO HIS DIRTY WORK BEFORE HE TURNS THE FULL POWER OF NATO AND THE UN TERRORISTS ON US AL
September 24th, 2008 at 5:02 am
I thought the US was going to adopt the “Amero” anyway? Then after that there will be a currency between the EU and NAU called the “Atlantica” or something equally uninspired. The ultimate goal for the elite is for a single currency in the world. I see the same thing happen here in Britain, the Pound is getting weaker and weaker against the Euro and there must come a point when the politicians and public will deem the Pound obsolete and take up the Euro. I think the powerful currencies are being purposely destroyed to make the new “international” currencies seem more tempting.
September 24th, 2008 at 5:26 am
spread this you tube virally its on the front of http://www.gcnlive.com about paulson and the bailout, Alex jones http://www.youtube.com/watch?v.....nlive.com/ thanks very much call everyone in congress now. say no , hell no. April Gallop http://www.thepentacon.com
September 24th, 2008 at 10:12 am
Will you accept the scripted Presidential ‘debate’ again?
Brought to you by your ‘good friends’ at Wall Street.
No Paul or Nader Main Street USA,
nor Cynthia McKinney.
September 24th, 2008 at 10:45 am
Nice one by R.A.T.M.
hehehehe
Testify.
I had watched that music clip again, about 2 nights ago
September 24th, 2008 at 10:50 am
If we are to refer to songs by others .. This one I like.. And relative to topic and other music lyrics just posted.
“Just Look Around”
By Sick Of It All
The question they keep asking me
how can one so young be so bitter and angry
well, the answer is plain to see
maybe if they wern’t so blind they’d see what i see
i see the homeless livin’ out on the street
on every corner they’re asking for money
i try to help them whenever i can
but sometimes i can’t afford to help myself
i see diseases and modern plagues of our times
the greed of our leaders has made them blind
to our problems
they spend millions overseas,
people right here are fightin’ wars everyday
I see the whites that hate the blacks
blacks against the jews, race against religion
and the’re all too blind to see
When we fight each other it puts all of them at ease
it keeps us so busy, so they can do what they please
election time comes and they’re out for votes
that’s when you see and hear from them the most
this is what they’re calling a democracy
that’s just another word for hypocrisy
we keep fallin’ for the bait
when we realize, it’s always too late
I see the whites that hate the blacks
blacks that hate the jews, brother against brother
and they’re all to blind to see
As the rich get richer, the poor goin’ hungry
i’ve seen the toll it takes on the workingman’s family
education system that’s obsolete
can’t hold a kid’s interest or keep ‘em off the street
see a father’s fear, hear a mother’s cry
what kind of a nation lets their children die
government’s corrupt and full of red tape
then you’re gonna ask me why i hate
Why don’t you open up your eyes so you can see
open up your ears so you can hear
take a look around and you will find
take a look around and you will find out why
September 24th, 2008 at 11:10 am
Oh I think anyone who comes back and posts here should say well done to R.A.T.M.
What R.A.T.M. is saying here is.. He predicted this outcome with Precision with those words a long time ago.
It is worth some Acknowledgment or reply if you post here
AWSOM STUFF! Its not just about jumping up and down to the music.. These guys Rock.
so here it is again..
With precision you feed me
My witness Im hungry
Your temple it calms me
So I can carry on
My slaving, sweating,
The skin right off my bones
On a bed of fire Im choking
On the smoke that fills my home
The wrecking ball is rushing
Witness your blushing
The pipeline is gushing
While here we lie in tombs
While on the corner (corner)
The jurys sleepless (sleepless)
We found your weakness (weakness)
And it’s right outside your door
Now testify
Yeah testify
Its right outside your door
Now testify
Now testify
And it’s right outside your door
September 25th, 2008 at 5:37 pm
Give the Money to the very persons suffering without a job and close to foreclosure.
If the Bailout goes through for Big Banks it is one of the biggest Double Standards in History. Big companies already get huge tax breaks, they out source, import foreign workers, demand no oversight, and still want big buy outs and no special privileges for small business, and regular persons.
Drastic subtle action is needed by the highly ethical and smart Citizens of the USA. Start securing your treasures, get off the grid, increase your privacy, double check your honest allies, legal reps, and security plans.
The worst of enemies sneak up on when you least expect it and can even make you feel like it is your fault and the natural order of thing. Resist with all of your cunning, might, and resources. Resist!
September 30th, 2008 at 5:18 pm
If you can handle it.