Archive for September 2008
What the Corporate Government Banking Media Complex Wants
Posted September 30, 2008 by
Our economy is structured to require ever expanding amounts of debt in order to keep growing. The banking system makes money by making loans, which gives it an incentive to loan, loan, loan — even if banks know that the borrowers cannot pay the money back. As long as new loans are being made, banks make money and the economy continues to grow.
But people have reached a limit as to how much more debt they can take on. The people don’t want any more debt, and the banking system is choking on bad debt of its own making.
Since people can’t take on any more debt, and many can’t pay back what they’ve already got, the economy can’t grow under the system as it is structured now. The bankers are panicked because they won’t make money, and in fact, they’ll lose a lot.
Ron Paul on CNN Sept 30 08 Bailout Fallout
[…]We MUST do something to protect millions of Americans whose homes, bank deposits, investments, and pensions are at risk in a financial system that has become seriously corrupted. We are told that we must stabilize markets in order for the people to be protected. I think we need to protect peoples’ homes, bank deposits, investments, and pensions, to order to stabilize the market.
We cannot delay taking action. But the action must benefit all Americans, not just a privileged few. Otherwise, more plans will fail, and the financial security of everyone will be at risk. […]
Here is a very quick explanation of the $700 billion bailout within the context of the mechanics of our monetary and banking system:
The taxpayers loan money to the banks. But the taxpayers do not have the money. So we have to borrow it from the banks to give it back to the banks. But the banks do not have the money to loan to the government. So they create it into existence (through a mechanism called fractional reserve) and then loan it to us, at interest, so we can then give it back to them.
“BUSH GUILTY OF 1ST DEG MURDER” – BUGLIOSI TELLS CONGRESS
Kucinich: Bailout ‘Driven by Fear Not Fact’
The $700 bailout bill is being driven by fear not fact. This is too much money, in too short of time, going to too few people,while too many questions remain unanswered. Why aren’t we having hearings…Why aren’t we considering any other alternatives other than giving $700 billion to Wall Street? Why aren’t we passing new laws to stop the speculation which triggered this? Why aren’t we putting up new regulatory structures to protect the investors? Why aren’t we directly helping homeowners with their debt burdens? Why aren’t we helping American families faced with bankruptcy? Isn’t time for fundamental change to our debt-based monetary system so we can free ourselves from the manipulation of the Federal Reserve and the banks? Is this the US Congress or the Board of Directors of Goldman Sachs?
With money you can buy a house, but not a home.
With money you can buy a clock, but not time.
With money you can buy a bed, but not sleep.
With money you can buy a book, but not knowledge.
With money you can see a doctor, but not good health.
With money you can buy a position, but not respect.
With money you can buy blood, but not life.
With money you can buy sex, but not love
From Andalucia’s alterntive magazine: www.lachispa.net