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*Note: do not read this unless you want to hear a lot of griping, I mean a lot.
In the last two weeks we have seen the most handouts ever given to a bunch of private investors in our country to make up for the investors’ mistakes.
(Gripe time)
This is a bunch of BS! If you and I make a bad investment mistake, no one is going to cover our losses. But the idiots in charge of our country throw out crazy statements like: “The investors are too big to fail” or “We have to protect the market.” Then they turn around and do the worst thing possible, BAIL THESE COMPANIES OUT!
I am going to go and bash my head against the wall for a minute. Be right back.
Whew, now I feel a little better. All of these bailouts are done with our (taxpayers’) money. This might be ok if there was any say in the matter, but there isn’t. I can’t go to a town hall meeting and state my position, nor can I write my representative or senator and gripe to them. In the end, there is no oversight on how the government chooses to spend OUR money.
During the last two weeks we have seen approximately $400,000,000,000 (Yes, 400 BILLION) used to bail out the banks, insurance companies and investment firms, including adding liquidity to the market (meaning: giving these same people cheap, cheap money, the same cheap money that got us into this mess to begin with). This means every man, woman and child in the United States is now $1,333 more in debt in addition to the $88,000+ that each family is in debt already. Who gave the government the right to decide what to do with my money and my future?
In reality, the government has no money to loan to these companies, so instead the government borrows money from the PRIVATE federal reserve (it is neither federal nor does it have reserves) at interest and bails out the investors with that money. This means our income tax and debt burden just increased because a small group of people made some very bad investment decisions. Am I the only one going crazy here?
Next time you are paying $4.00+ per gallon of gas or milk you can thank our own government for the mess. Regardless of what anyone says or who they blame it on, it is our own fault for electing people into office who don’t care about any of us.
Now that is over. Here are some videos people might find interesting.
Dollar Collapse - Peter Schiff - Freddie And Fannie Socialist Bailout = Hyperinflation
Listen to Peter Schiff the voice of reason.
History of the federal reserve
Money, Banking and the federal reserve
85 Billion Bail Out for AIG
AIG Bail Out: Another After-Hours Party as the Fed
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Good article Josh…
Now’s the time to hold their feet to the fire and take back our civilization from these evil scoundrels. Karma’s a bitch and those atop the pyramid are about to taste Her great displeasure at the greed and great injustice that the world economic and financial system causes and perpetuates.
Anyone who still thinks that money and imposed usury are a wise and just way to manage civilization is still suffering from strong delusion and needs to lay of the strong stuff. Humanity has long been duped into accepting the great deception that is money and banking. The world financial system is now in the process of a slow and inexorable implosion and the unraveling will make Enron look like child’s play. The mess created in recent decades and greatly magnified by the Neo-cons and their greedy cohorts is about to plunge the world into a great debacle.
It will soon become obvious, to even the most clueless, that it will be easier to step away from the deceptions of the past and finally fix our civilization so it works for everyone, not just a few. Why should humanity struggle and suffer any longer to repay debts and endure debacles created by greedy and deceptive monetary and political leaders? The power of the rich and arrogant is about to be blown away on the winds of irresistible change.
http://tinyurl.com/rottencore
http://tinyurl.com/moneypower
Peace and Wisdom…
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It tyical of gov’t to do this. Remember they are business like anything else. ?eventhough we elected them they still do as the please and don’y give a crap about what the electors says.
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Does anyone have the bailout hotline number? I want to be able to know what it is in case my business fails. I want to make sure that my investors are covered and that I don’t have to declare bankruptcy.
What, oh you mean that doesn’t apply to small businesses, the lifeblood of this country?
Well, OK that seem fine with me then.
*extreme disgust and anger is hidden in the sarcasm above.
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I get irritated by these things too Josh. All this and more that i could write a few novels on…sigh…
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@All, I guess the only real protection from the inevitable outcome all of this free money it to buy into commodities. At least then you are hedged against inflation.
Excellent article Josh. All I got to say is that money is power. These investors have that….
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I am from Portugal and I have worked for AIG for five years wayback in 1990. You can imagine what it felt for me when I saw this bailout happening. It makes me sad that, the once great AIG is now in the mess it’s in. They are private and it is solely their responsibility to face the consequences. 85 billion would have made a lot of US citizens in less debt than they are now. Blame the republicans:)
@diTesco, Agree that $85 billion sure could have feed a lot of people. The problem is that they just printed the money. The inflation from that money will even hurt more poor people as they struggle to pay the rising costs.
@Josh - Yeah lets just let the printing presses keep going. That way the dollar will be worth nothing. That is why I am buying Silver. When the dollar is worthless, I will still be able to get groceries.
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@BigPappa, Funny, I just bought a bunch of silver again today.
Are you buying the physical bars or the paper?
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@BigPappa, Always physical, if it isn’t in my hand how do I know if it is real?
Me too. I have 1-100 some 10’s and a bunch of 1’s. Never buy the 100 oz bars. They may have to drill them before they buy them. Unless you sell it back to the guy you bought it from.
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@BigPappa, I hear you on the big bars, I like to buy the BU dimes and 1 oz the most. I figure they would be easier to trade and swap down the road.
The world is so complicated. Why can’t people keep things simple?
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@wiehanne even simple thing can be complicated.
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@Sherry,
yeah, the line between simple and complicated is so thin eh?
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@wiehanne yeah.
about milk as I am living in the city we can’t find fresh milk. Some restaurant sold them but its very expensive for a glass of fresh milk would cost $1.60.
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Oh milk, it’s another thing to concern nowadays.
@wiehanne not just milk but biscuit as well.
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Oh yeah, biscuit, almost forget about it. And there is so many dairy related products that might have the risk. sigh.
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