Monday, September 22, 2008

Save the Family

What you can do to stop the bailout

http://www.youtube.com/watch?v=MO6P_yjKFR4


Lies From Paulson Keep Stacking Up: What You Can Do About It

Somehow Paulson has gone from "Our banking system is a safe and a sound one" (See You Know The Banking System Is Unsound When....) to Paulson telling Congress "That we're literally maybe days away from a complete meltdown of our financial system, with all the implications here at home and globally."

Inquiring minds may wish to consider a recap of things that have happened since Paulson made his "Our banking system is a safe and a sound one" speech.

* Paulson anounced "Financial Institutions Must Be Allowed To Fail", arguably one of the most amazing financial lies in history.
* Fannie Mae and Freddie Mac were placed in Conservatorship putting taxpayers at risk to the tune of $200 Billion or more. Equity and preferred shareholders were wipe out while the treasury (taxpayer), guaranteed the agency bonds.
* Lehman went bankrupt after a long weekend poker party. See Fed Sponsored Poker Party Morphs Into "Old Maid" for more details.
* AIG was nationalized. The treasury took an 80% stake in AIG in return for $85 billion. Taxpayers are at risk of that $85 billion.
* Merrill Lynch (MER) merged with Bank of America (BAC) as noted in Another Shotgun Marriage: Bank of America and Merrill Lynch.
* 3 Month Treasury Yields Effectively Hit Zero in a systemic distrust of banks and money market funds.
* The Fed Intervenes In Money Markets with non-recourse funding of asset backed commercial paper.
* The US Taxpayer Becomes A Giant Dumpster For Illiquid Assets.
* In the biggest financial witch hunt in history the SEC banned short selling of financials. See Peak Insanity: SEC Plans to Temporarily Ban Short-Selling and Paulson's Shorting Ban Needs Revisions Already.
* Of course Congressional Leaders Are Stunned That Bernanke Finally Admits The Truth.
* Bush Administration Seeks "Dictatorial Power"


The implications are twofold.

1) Paulson and Bernanke are liars
2) Paulson and Bernanke are incompetent

There are no other choices except "both of the above"

Shouldn't Paulson and Bernanke have the obligation to explain how that happened, and most important what the Fed's role and Congress's role in that was?

Yet somehow Congress is supposed to rush through a package that is arguably unconstitutional, because two known liars and/or incompetents say there is an urgent need to do so.

Sadly, Congress is more concerned about getting something done quickly than getting something done right. In the corporate world one would expect to see overtime hours. Here we are in a global financial emergency and Congress is concerned about getting something done before recess.

Everyone Wants A Bailout

Mortgage lenders, banks, the auto industry, home builders, broker-dealers all are asking for handouts. Today I see Paulson saying Foreign banks may get help.

In a change from the original proposal sent to Capitol Hill, foreign-based banks with big U.S. operations could qualify for the Treasury Department's mortgage bailout, according to the fine print of an administration statement Saturday night.

Treasury Secretary Henry Paulson confirmed the change on ABC's "This Week," telling George Stephanopoulos that coverage of foreign-based banks is "a distinction without a difference to the American people."

On "Fox News Sunday," Paulson told Chris Wallace that he would resist the Democrats' desired limits on executive compensation.

"If we design it so it's punitive and institutions aren't going to participate, this won't work the way we need it to work," Paulson said. "Let's talk executive salaries: There have been excesses there. I agree with the American people. Pay should be for performance, not for failure. We've got work to do in that regard. We need to do that work. But we need this system to work. And so reforms need to come afterwards.

Participation Not Voluntary

The proposed bill virtually give the Treasury dictatorial powers, yet Paulson has the gall to say
"If we design it so it's punitive and institutions aren't going to participate, this won't work the way we need it to work"!

That is yet another lie from Paulson.

Paulson resists calls for added help in bailout

It's interesting to note that Paulson resists calls for added help in bailout.

"The credit markets are still very fragile right now and frozen," Paulson said in an interview on NBC's Meet the Press. "We need to deal with this and deal with it quickly."

Paulson made the rounds of the television talk shows to stress the need for speed in getting the bailout package approved. The administration spent the weekend negotiating the details of the proposal with members of Congress with the expectation that it can be passed in the next week.

Paulson said that "it pains me tremendously to have the American taxpayer put in this position but it is better than the alternative."

Sen. Richard Shelby of Alabama, the top Republican on the Senate Banking Committee, said that what Congress was being asked to approve was the "mother of all bailouts" which Shelby said would end up costing more like $1 trillion rather than $700 billion when the costs of the government taking over mortgage giants Fannie Mae and Freddie Mac and insurance giant American International Group Inc. were added.

Mother Of All Bailouts Is Correct

Notice that Paulson does not want Congress adding anything to the bill, yet he is willing to bailout foreign banks. In return for what?

What To Do

In Bush Administration Seeks "Dictatorial Power" I noted some actions you can take. After repeating the section, I wish to add to it. First a recap.

Contact Your Senator Today!

It's time to contact your senator. Here is contact information for Senators of the 110th Congress.

Phone or Email your Senators today. Tell them in your own words

* Urge your senator to Filibuster any bailout legislation.
* Emphatically state you do not want a bailout of any kind for anyone.
* No Dictatorial power for Paulson or Bernanke
* Taxpayers should not have to bail out banks making bad loans
* Tell them that "The Fed" and Paulson are systemic risk".


Email AND Phone Senators Shelby, Bunning, Kyle, Ensign, Hagel

Whether Senator Shelby is your Senator or not, flood him with calls and emails asking for a filibuster and to stop the insanity. Senators Shelby, Bunning, Ensign, and Kyle might be sympathetic to the cause, based on past statements. I am taking a stab at Hagel.

Ask For A Filibuster

Please email and phone the following. Specifically ask for a filibuster and tell them to vote no to any bailout.

Tell them that anyone who votes for this bailout will never get your vote again.

Shelby, Richard C.- (R - AL)
110 HART SENATE OFFICE BUILDING WASHINGTON DC 20510
(202) 224-5744
E-mail: senator@shelby.senate.gov

Bunning, Jim- (R - KY)
316 HART SENATE OFFICE BUILDING WASHINGTON DC 20510
(202) 224-4343
Web Form: http://bunning.senate.gov/public/index.cfm?FuseAction=Contact.ContactForm

Kyl, Jon- (R - AZ)
730 HART SENATE OFFICE BUILDING WASHINGTON DC 20510
(202) 224-4521
Web Form: kyl.senate.gov/contact.cfm

Ensign, John- (R - NV)
Washington D.C. Office
119 Russell Senate Building
Washington, D.C. 20510
Phone: (202) 224-6244
Fax: (202) 228-2193
Web Form: ensign.senate.gov/forms/email_form.cfm

Hagel, Chuck (R - NE)
248 RUSSELL SENATE OFFICE BUILDING WASHINGTON DC 20510
(202) 224-4224
Web Form: hagel.senate.gov/public/index.cfm?FuseAction=Contact.Home

Please email and phone both of your senators as well.

Once Is Not Enough

I want to emphasize that once is not enough. Here is what to do.

* Flood the senators with emails and phone calls.Tell them in no uncertain terms that if they vote for this bailout they will not get your vote, ever again.
* Send an email or call every day, preferably both.
* Put each message in your own words.
* Make the phone message sort and sweet.
* Use one of the following verbs: concerned, frightened, scared, afraid, mad rush to action
* Use one of the following themes: US dollar, unconstitutional, national debt, how do we pay for this?, printing money, lies, etc
* Vary each message so they do not all sound alike

Send this post to 5 or 10 of your friends and have them do the same. Do it now, while you are thinking about it.

I must be honest and state that this action is highly unlikely to work. However. It is the only shot we have.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

Saturday, September 20, 2008

The Bailout is Treason

Some Americans have forgotten their history, and it is because of this, that corruption and robbery have run rampant through our nation.

It is time that we awaken from our slumber, and stand up and save what is left of this nation.

An educated people are a free people, and that is what this blog's intention is, to re-educate Americans to the truths that our founder's knew, the ones that government schools so carefully forget to teach you.

Thomas Jefferson said "I believe that banking institutions are more dangerous to our liberties than standing armies ... If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

The Federal Reserve is just such a banking institution.

Before it was created, nearly 100 years ago, the United States congress was in charge of coining and regulating the currency, this is what the Constitution demanded. A central bank was unconstitutional, because in short, it robbed the people.

Before the Fed's existence, congress could create money without interest being charged.

Today, the Federal Reserve charges interest for the money that they create for our government's use. ALL of your federal income tax goes to pay that interest. And when there is interest charged on money, there is NO WAY to pay it back, because there will NEVER be enough money in circulation to pay it off. NEVER.

Due to fractional reserve banking, there is not enough cash in the world to back up all the bank deposits either since so much is now done electronically, and because they print more with nothing backing it, our dollar loses its buying power.

When the dollar loses value, all those that are saving are robbed. When the dollar loses its buying power, food costs more, gas costs more, so ALL the people are robbed.

When the Fed gets together to ask congress to give them more power, the power to have all American Taxpayers take on the debt load of all the bad loans and poor investments due to the banking and housing industry greed, they rob all of us.

Those of us who have lived within our means, which is a few, will now share the burden that should have been the consequences of Big Business plundering us, but instead, they are asking to plunder us more, so that they can go on with business as usual.

Like Thomas Jefferson, "I wish it were possible to obtain a single amendment to our Constitution - taking from the federal government their power of borrowing."

Andrew Jackson, who won on the campaign slogan Jackson and NO BANK said, "It is not our own citizens only who are to receive the bounty of our government. More than eight millions of the stock of this bank are held by foreigners... is there no danger to our liberty and independence in a bank that in its nature has so little to bind it to our country? ... Controlling our currency, receiving our public moneys, and holding thousands of our citizens in dependence... would be more formidable and dangerous than a military power of the enemy."

Andrew Jackson was successful in destroying the Central Bank, but once he was gone, the once again took little steps back into existence, as Americans forgot their own history, and how the central banks were the destruction of liberty the world over.

Two weeks before president Garfield was assassinated he said, "Whoever controls the volume of money in our country is absolute master of all industry and commerce...and when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate." If you haven't figured it out yet, it is the Federal Reserve that is responsible for this monetary crisis, and it is deliberate. They are consolidating power, the big powers eating the little powers, and what junk they took on, they are putting on your back as their slave.

The Federal Reserve, is unconstitutional. It is central banks that caused the first American Revolution, when the colonists refused to be taxed for the failing banking policies of the European Central bankers. They understood their enemy, and they choose liberty, will we?

Any congressmen or senator that votes for these bailouts is committing treason against our nation. They would be voting to further destroy our true system of government and push us towards more socialism and communism. If they were for The People, they would stand up and declare NO they will not enslave this people, and then they would take back their right to control and issue the money, and not allow the Central Bank to continue to create the inflation and depression in our nation!

And when you see how many agree to do this to you, and shred the few fibers of liberty that remain, you will see how many no longer represent you! It is my hope, that enough people will become informed, that they will realize what is being perpetuated on them, that it is criminal behavior, and that we can yet have a bloodless revolution, by voting them all out!

Once liberty is lost, it will take blood to bring it back. My ancestors spilled their blood for this nation, and to maintain liberty here. Let it not be said that it was all in vain. Let this generation be the generation that stands up to tyrants and says, no more, we will have liberty!

Wednesday, September 10, 2008

Ron Paul's Statement to the National Press Club

Ron Paul Statement to the National Press Club

The American Majority

The argument that the two parties should represent opposed ideals and policies, one, perhaps of the Right and the other of the Left, is a foolish idea acceptable only to the doctrinaire and academic thinkers. Instead the two parties should be almost identical, so that the American people can ‘throw the rascals out’ at any election without leading to any profound or extensive shifts in policy.

Carroll Quigley – Author of Tragedy & Hope

The coverage of the presidential election is designed to be a grand distraction. This is not new, but this year, it’s more so than ever.

Pretending that a true difference exists between the two major candidates is a charade of great proportion. Many who help to perpetuate this myth are frequently unaware of what they are doing and believe that significant differences actually do exist. Indeed, on small points there is the appearance of a difference. The real issues, however, are buried in a barrage of miscellaneous nonsense and endless pontifications by robotic pundits hired to perpetuate the myth of a campaign of substance.

The truth is that our two-party system offers no real choice. The real goal of the campaign is to distract people from considering the real issues.

Influential forces, the media, the government, the privileged corporations and moneyed interests see to it that both party’s candidates are acceptable, regardless of the outcome, since they will still be in charge. It’s been that way for a long time. George Wallace was not the first to recognize that there’s “not a dime’s worth of difference” between the two parties. There is, though, a difference between the two major candidates and the candidates on third-party tickets and those running as independents.

The two parties and their candidates have no real disagreements on foreign policy, monetary policy, privacy issues, or the welfare state. They both are willing to abuse the Rule of Law and ignore constitutional restraint on Executive Powers. Neither major party champions free markets and private-property ownership.

Those candidates who represent actual change or disagreement with the status quo are held in check by the two major parties in power, making it very difficult to compete in the pretend democratic process. This is done by making it difficult for third-party candidates to get on the ballots, enter into the debates, raise money, avoid being marginalized, or get fair or actual coverage. A rare celebrity or a wealthy individual can, to a degree, overcome these difficulties.

The system we have today allows a President to be elected by as little as 32% of the American people, with half of those merely voting for the “lesser of two evils”. Therefore, as little as 16% actually vote for a president. No wonder when things go wrong, anger explodes. A recent poll shows that 60% of the American people are not happy with the two major candidates this year.

This system is driven by the conviction that only a major party candidate can win. Voters become convinced that any other vote is a “wasted” vote. It’s time for that conclusion to be challenged and to recognize that the only way not to waste one’s vote is to reject the two establishment candidates and join the majority, once called silent, and allow the voices of the people to be heard.

We cannot expect withdrawal of troops from Iraq or the Middle East with either of the two major candidates. Expect continued involvement in Iran, Iraq, Afghanistan, Pakistan and Georgia. Neither hints of a non-interventionist foreign policy. Do not expect to hear the rejection of the policy of supporting the American world empire. There will be no emphasis in protecting privacy and civil liberties and the constant surveillance of the American people. Do not expect any serious attempt to curtail the rapidly expanding national debt. And certainly, there will be no hint of addressing the Federal Reserve System and its cozy relationship with big banks and international corporations and the politicians.

There is only one way that these issues can get the attention they deserve: the silent majority must become the vocal majority.

This message can be sent to our leaders by not participating in the Great Distraction—the quadrennial campaign and election of an American President without a choice. Just think of how much of an edge a Vice President has in this process, and he or she is picked by a single person—the party’s nominee. This was never intended by the Constitution.

Since a principled non-voter sends a message, we must count them and recognize the message they are sending as well. The non-voters need to hold their own “election” by starting a “League of Non-voters” and explain their principled reasons for opting out of this charade of the presidential elective process. They just might get a bigger membership than anyone would guess.

Write-in votes should not be discouraged, but the electoral officials must be held accountable and make sure the votes are counted. But one must not be na├»ve and believe that under today’s circumstances one has a chance of accomplishing much by a write-in campaign.

The strongest message can be sent by rejecting the two-party system, which in reality is a one-party system with no possible chance for the changes to occur which are necessary to solve our economic and foreign policy problems. This can be accomplished by voting for one of the non-establishment principled candidates—Baldwin, Barr, McKinney, Nader, and possibly others. (listed alphabetically)

Yes, these individuals do have strong philosophic disagreements on various issues, but they all stand for challenging the status quo—those special interest who control our federal government. And because of this, on the big issues of war, civil liberties, deficits, and the Federal Reserve they have much in common. People will waste their vote in voting for the lesser of two evils. That can’t be stopped overnight, but for us to have an impact we must maximize the total votes of those rejecting the two major candidates.

For me, though, my advice—for what it’s worth—is to vote! Reject the two candidates who demand perpetuation of the status quo and pick one of the alternatives that you have the greatest affinity to, based on the other issues.

A huge vote for those running on principle will be a lot more valuable by sending a message that we’ve had enough and want real change than wasting one’s vote on a supposed lesser of two evils.

My Savior Jesus Christ: I Love the Lord (Music Video)

Friday, September 5, 2008

My family in the News at the Rally for the Republic

If you find anything else, please let me know!(A lot of people took pictures of us so I hope to stumble across those.)


My family got to feel like celebrities as we were photographed and interviewed like mad. I am sure that not all of the images taken were used, or all of the interviews either, but it was an interesting side effect I did not count on when dressing up as Revolutionary Colonists. :)

So here is what I have found so far, and I have more coming in. I will try to post more as people send them to me.

Charity Angel

PBS

Washington Post

CBS News

George Loper

NY Times

CBS5

Battlefieldeart’s Blog


If you find anymore, let me know. :)