A $700B Bailout? There's Always A Choice!
Has anyone read * SECTION 8 * of the proposed $700 billion bailout plan? It reads that:
"Decisions by the Secretary pursuant to the authority of this Act are *non-reviewable* and committed to agency discretion, and may *not* be reviewed by any court of law or any administrative agency."
In short, the so-called "mother of all bailouts" --- which will allocate/transfer $700 billion in taxpayer dollars to purchase the distressed assets of several failed financial institutions --- will be conducted in a manner *unchallenged-able by courts* and *ungovern-able by the citizenry's duly sworn representatives*. All decision-making power will be consolidated into the Executive Branch (President of the United States/Treasury Secretary) who, let me remind you, will have the incentive to act upon this privilege as quickly as possible, before they leave office. The measure will run up the budget deficit by a significant amount, with no guarantee of recouping the outlay, and no fundamental means of holding those who fail to be accountable. This is amazing...given the very public (loud) opposition to WEALTH RE-DISTRIBUTION that REPUBs and capitalism-driven DEMs (and socio-economically comfortable/politically centrist and moderate citizens) typically have. Fundamentally, this is a wealth redistribution of funds from the have-nots to the "elite wing of the elite class" of Americans.The privately owned Federal Reserve Bank is *not* FEDERAL. It is a private bank that controls the money supply and loans money out to the Country, Government, and World Banks at INTEREST which, thereby, creates more debt.
The Federal Reserve Bank:
1. Operates under "little-to-no" regulation or legal oversight by/under the government.
2. Creates, writes, and manages its own policies (Section 8).
3. Is privately owned by international bankers.
4. Controls the MONEY supply.
5. Controls the interest rates.
6. Profits from WAR, lending money for WAR (approximated at $12 billion per month at interest)
7. Has had to increase the influx of money since its inception.
Why? It is a system that creates debt due to the fact that it controls the money supply while simultaneously determining the interest rate, thus giving people money with interest attached to it to pay of their debts. Paying off debt with debt money (money loaned at interest)?? There is a need for wholesale, SYTEMATIC and SYSTEMIC CHANGE...and not just the on-the-surface changes to electoral (campaign-driven) presidential politics.
"It is the world that has been pulled over your eyes to blind you from the truth." -Morpheus (Laurence Fishburn), The Matrix
Progressively,
LeftAngst
"Decisions by the Secretary pursuant to the authority of this Act are *non-reviewable* and committed to agency discretion, and may *not* be reviewed by any court of law or any administrative agency."
In short, the so-called "mother of all bailouts" --- which will allocate/transfer $700 billion in taxpayer dollars to purchase the distressed assets of several failed financial institutions --- will be conducted in a manner *unchallenged-able by courts* and *ungovern-able by the citizenry's duly sworn representatives*. All decision-making power will be consolidated into the Executive Branch (President of the United States/Treasury Secretary) who, let me remind you, will have the incentive to act upon this privilege as quickly as possible, before they leave office. The measure will run up the budget deficit by a significant amount, with no guarantee of recouping the outlay, and no fundamental means of holding those who fail to be accountable. This is amazing...given the very public (loud) opposition to WEALTH RE-DISTRIBUTION that REPUBs and capitalism-driven DEMs (and socio-economically comfortable/politically centrist and moderate citizens) typically have. Fundamentally, this is a wealth redistribution of funds from the have-nots to the "elite wing of the elite class" of Americans.The privately owned Federal Reserve Bank is *not* FEDERAL. It is a private bank that controls the money supply and loans money out to the Country, Government, and World Banks at INTEREST which, thereby, creates more debt.
The Federal Reserve Bank:
1. Operates under "little-to-no" regulation or legal oversight by/under the government.
2. Creates, writes, and manages its own policies (Section 8).
3. Is privately owned by international bankers.
4. Controls the MONEY supply.
5. Controls the interest rates.
6. Profits from WAR, lending money for WAR (approximated at $12 billion per month at interest)
7. Has had to increase the influx of money since its inception.
Why? It is a system that creates debt due to the fact that it controls the money supply while simultaneously determining the interest rate, thus giving people money with interest attached to it to pay of their debts. Paying off debt with debt money (money loaned at interest)?? There is a need for wholesale, SYTEMATIC and SYSTEMIC CHANGE...and not just the on-the-surface changes to electoral (campaign-driven) presidential politics.
"It is the world that has been pulled over your eyes to blind you from the truth." -Morpheus (Laurence Fishburn), The Matrix
Progressively,
LeftAngst
posted by LeftAngst at 7:52 AM
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