The Fed Caused the Crisis
The BANK BAILOUT authorized by a Congress mired in money from Wall Street, amounts to theft of the American people. A few short months after this bailout, the same bankers responsible for the financial crisis received huge bonuses courtesy of the American taxpayer. Now these bankers are up to the same old tricks that caused the crisis in the first place, investing in risky derivatives and other manipulations of the monetary system over which they have complete control. Where did the money to fund this bailout come from? It was created through an accounting entry by the Federal Reserve, a private banking cartel, and the American people now bear the debt, and the interest this debt incurs. The Fed caused the financial crisis. Crony capitalism is not true capitalism, but corporate socialism.
Congress has agreed to audit the Federal Reserve, to see where the TARP money went. However, this is only the beginning of what needs to occur to solve the grip international banking has on our nation, and which has decimated our economy.
The real solution is to follow the lead of our first truly Republican president, Abraham Lincoln, and reverse the process of currency issue as our constitution mandates. Rather than the banks lending currency (they create) to the government at interest, the government through a totally transparent process, should lend the currency at a small origination fee, to the banks. The generated interest would pay for legitimate government expenses. There would, therefore, be no need for income tax, no government debt, and no inflation. This is how it is supposed to work according to our constitution, where it states in Article 1, Section 8, "Congress shall have the power: To coin money, regulate the value thereof"
In Debt we Trust?
The federal government’s overall indebtedness is essentially the sum of two figures. The first is the national debt, which currently stands at $12 trillion. The second is the amount of implicit obligations inherent in entitlement programs. These are conservatively estimated to be in the area of $55 trillion. This makes for the sum total of at least $67 TRILLION. With revenue and gains in total of 2 trillion dollars a year, anyone can do the math as to how the American tax payer will be left holding a crushing debt. Overhauling this broken system is the change we urgently need.
Foreign Aid
Would you run up your credit card giving money to charity if you couldn’t afford to pay your own bills at the end of the month? Of course not, but this is exactly what Congress has been doing for years. Last year the US gave away an estimated 26 billion dollars in foreign aid, and the top recipients were all first world countries. 24 hours after the 2005 earthquake in Pakistan, US aid packets were air dropped over affected regions, yet a few months prior government agencies took a week to help our own during hurricane Katrina. As internal infrastructure collapses, and the national debt balloons, Congress continues to authorize foreign giveaways of money we don’t have to begin with! The Kerry-Lugar bill authorizes 1.5 billion a year for 5 years to Pakistan. This reckless misuse of public funds must cease and desist immediately.