Snow job and melt down
Sep 24th, 2008 by Randy Toman
Here is more on the melt down and yet another mistaken, misdirection of blame. Why he does not want to say who is really in charge, I can’t tell, but he certainly did not say anything about the “Bankers” and the “Federal Reserve”. The Federal Reserve has forgotten nothing and the Treasury is locked into the Federal Reserve, were do you think this whole mess is going to be dumped. Why he doesn’t tell it like it is, I cannot tell?
“Faced with the economic mess they have made, most Congressional politicians then call for protecting the very jobs they are killing by adopting economically unsustainable but politically attractive demagoguery.”
“The Federal Reserve has forgotten that its first job is to protect the dollar. In its search for a pain free here and now it has flooded the world with dollars, which has set the stage for a return to the 1970s model of stagflation in which the combination of high taxes and high inflation cripple economic growth and weaken our economic future.”
“The Treasury has forgotten that its first job is to protect the taxpayer and reinforce the Federal Reserve in protecting the dollar. Now we have a Treasury, which is capriciously deciding which firm to help and which firm to let die. In the process it is piling up huge liabilities for the taxpayer, potentially increasing the long-term debt of the American taxpayer by what may amount to a nearly 50% increase.”
Then he says this down the page.
“Deals are being struck behind closed doors with little or no transparency.”
Really what did you think was going to happen? Do you really think the United States government has anything to say in what the “Federal Reserve” is doing? Cut me a brake, please, the Fed under the dual dynamo of Bernicke and Paulson are calling the shots.
“If we do not stop the current lobbyist driven, politician enhancing, and bureaucracy empowering trend, America will be poorer, weaker, and less capable for a long time to come.”
“In an amazing display of historic ignorance, economic destructiveness, and ideologically driven dishonesty, Washington politicians are in the process of combining the worst of the 1970s bad economic policies with the worst of Detroit’s economic and educational decay.”
“We are in grave danger of turning all of America into the kind of declining economy and bureaucratic mess, which Detroit has become over the last 40 years.”
“It is essential that we face the facts and return to the fundamentals.”
Here is where this all came from. (See link below) Enjoy the melt down and remember this guy was in Congress under the “Federal Reserve System” and did nothing to save us. The Federal Reserve System must go, no bail out.