FDIC Seeking Bailouts From Banks?

You know that our financial system is totally and royally screwed when FDIC has to borrow funds from banks.

I thought this was satire but I confirmed it after I saw articles in mainstream news.

It is supposed to work the other way around….FDIC is supposed to lend to banks who are at risk or failing. When you see “FDIC Insured” that is supposed to mean that even if the bank fails you will get your money back (up to a certain amount). Now that very fund is borrowing from them? This is such a scam. Guess who’s paying for all this? Clue: It begins with tax and ends with payers.

Why Obama Wants Paterson Out

In the politics of the global financial meltdown, this story is connected and should be watched.

Obama Asks Paterson To Withdraw From NY governor’s Race

Here’s my take on this story based on past experience of NY politics:

Obama asked NY governor Paterson to withdraw from running in 2010 as his ratings are lower than Eliot Spitzer (who was exposed in a prostitute ring because he had investigated AIG and was ready to investigate others in the financial crisis). The disgraced ex-Gov Eliot Spitzer’s ratings currently are low but at 27% and he’s considering a re-run and Paterson’s are only 20%.

One of the people who are considering a run for NY governorship is Andrew Cuomo (son of former NY Governor Mario Cuomo) who is the State Attorney General right now.

Andrew Cuomo has been working on prosecution of the corrupt RICO cronies at Bank of America. Maybe this will extend to Bernanke, Paulson, and Lewis if it ever happens.

However…Obama wants him out of Attorney General’s seat so BoA will never get prosecuted.

Once he’s “elected” governor – I am willing to bet that Cuomo will get pulled over to the dark side and this fake prosecution of BoA turns out to be a publicty stunt and the public will be sorely dissapointed.

New Yorkers love brave and nobel crimefighting people who go after corruption. But once they get elected to office by denouncing corruption and promising to fight it…they show the finger and say “Screw You!”. Either that or prostitutes walk out of their closets.

Support HR 1207 S 604 – Audit the Federal Reserve

Dear friends, Americans and countrymen,

Lend me your ears….your support is needed to save this country from economic collapse.

Congressman Ron Paul has introduced a bill to audit the Federal Reserve. A Rasmussen survey finds that 75 percent of Americans are in favor of auditing the Federal Reserve.

Established in 1913, the Federal Reserve is a private banking cartel (just like Federal Express, they only use the word Federal and that is misleading) to that creates the nation’s money. Instead of creating our own money, the United States of America borrows from this private banking system.

This makes the banks incredibly wealthy, as well as the corrupt politicians that are bought out by these bankers – and puts us, the people perpetually in debt. This is why the US government is spending trillions of dollars and sticking us taxpayers and future taxpayers with the bill. This means higher taxes for us, our children and grandchildren. Bailouts for Maserati driving bankers while many in the country are becoming homeless would not be possible if the Federal Reserve was being audited. They are to blame for the economic crisis we are in.

The Federal Reserve has never been audited. Please show your support for this monumental bill currently before Congress. This is a giant first step toward ending the bankers’ reign of terror.

With this link you can send an email to your representatives in a couple of minutes asking them to support the bill in Congress and the Senate.

http://www.votervoice.net/Core.aspx?AID=972&Screen=alert&IssueId=16611

California’s Budget Needs Spending Cuts in Right Places

It is terribly sad that California lawmakers aren’t cutting spending in the right places like waste in prisons, medicare/medicaid fraud, workers comp – where more is paid out than collected.

Despite propositions to increase taxes in California (where we already pay the highest taxes in the nation) were defeated, lawmakers are still looking to find ways to increase more taxes or collect money in ways that would make Bernie Madoff look like an an amateur.

Budget magicians use sleight of hand to help close California’s giant deficit.

It’s a shame – our taxes are already funding schools that have a 50% failure rate. Superintendents in LAUSD make $300,000 plus benefits. LAUSD spends more per student, has more bureaucrats per student, higher paid teachers and principals – compared to the Catholic Archdiocese. But Catholic schools with a lower per student spending have a higher success rate for students than LAUSD. Maybe LAUSD can learn a thing or two about education from them. As it is – in California, 1 in 4 students drop out, 1 in 4 students can’t read.

California - A Sinking Ship

Obamanomics: Bailouts of America’s Most Inefficient Businesses

Obamanomics is all about bailing out those who made all the wrong decisions producing, managing and investing. Such as banks, automakers, insurance companies, inefficient government agencies, government mortgage companies, etc. All the enterprises that failed should get to join his wealth distribution plan which was to take money from efficiently run businesses and individual tax payers who were making money doing the right things such as saving money, not speculating, making wise investments and then use that money to bail out the failed and inefficient parts of our economy while making those who got him elected rich in the process.

Here is Mish (Michael Shedlock) analyzing some articles in his blog.

http://globaleconomicanalysis.blogspot.com/2009/05/if-youre-not-petrified-of-obama-youre.html

Excerpt:

Davidowitz is correct about money going to the most inefficient parts of the economy. Bailing out AIG just so it can payoff Goldman Sachs is hardly a good use of taxpayer money. Nor is forcing a shotgun marriage between Bank of America and Merrill Lynch, only how have taxpayers pick up the tab.

Please see Let the Criminal Indictments Begin: Paulson, Bernanke, Lewis for my take on the coercion Paulson used on Bank of America CEO Kenneth D. Lewis, pressuring Lewis to go along with a merger he clearly knew was not in shareholder best interests.

Here is a snip from Geithner’s Plan Can Succeed: “The Plan: Dump $500 billion of toxic assets on to unsuspecting taxpayers via a public-private partnership in which 93% of the losses are born by the taxpayer.”

Obama Zombies

Paul Craig Roberts: Who Rules America?

Paul Craig Roberts is an economist and journalist. He was Assistant Secretary of Treasury during the Reagan Administration. Forbes has ranked him as one of the top 7 journalists in the US.

He is one of the most outspoken people in America today and he has been a critic of both Republicans and Democrats for their abuse of power.

You will find his articles very enlightening. Here’s his latest:

http://informationclearinghouse.info/article22611.htm

Here he writes about how the the Senate bill to allow homeowners to renegotiate mortgages with the banks was defeated by the banksters who pay the politicians millions and help them get elected. What a scam!

What a shame this is for our nation. Trillions of our taxes went to bailout the banks for their mistakes, then trillions more for war against nations that pose no threat to us – but when some politicians tried to help homeowners stay in their homes – not one penny will be spent to help them. Let them lose their homes. This should really outrage every “Patriotic American”. If it doesn’t shame on you.

Excerpt:

How is it possible that “the world’s only superpower” is threatened by the likes of Iraq and Afghanistan? How can the US be a superpower if it is threatened by countries that have no military capability other than a guerilla capability to resist invaders?

These “wars” are a hoax designed to enrich the US armaments industry and to infuse the “security forces” with police powers over American citizenry.

Not a dime to prevent millions of Americans from losing their homes, but hundreds of billions of dollars to murder Muslim women and children and to create millions of refugees, many of whom will either sign up with insurgents or end up as the next wave of immigrants into America.

This is the way the American government works. And it thinks it is a “city on the hill, a light unto the world.”

Americans elected Obama because he said he would end the gratuitous criminal wars of the Bush brownshirts, wars that have destroyed America’s reputation and financial solvency and serve no public interest. But once in office Obama found that he was ruled by the military/security complex.

Read the full article here:

http://informationclearinghouse.info/article22611.htm

Never-ending Government Lies

A Brilliant article on how free markets built America – today the government bamboozles people into tax slavery by lying about how these financial crisis are caused by lack of regulation – which are actually created due to government intervention and over-regulation!

Now the government is setting interest rates and fees for credit card companies, dictating the health care costs, health care treatment and rationing of health care for us all – ignoring the fact that intervention and regulation is causing high health care costs. If I could buy my own health care from the lizard guy at Geico, health care costs would drop dramatically as hospitals and doctors would compete directly for my business.

We thought the Internet is the last free place on earth – no longer – Obama is appointing an Internet Czar and soon will be regulating the Internet.

Where in the Constitution is it written that this is the government’s job? People, you are witnessing the fall of the mighty USA,

Lately, the US government is invading and intruding way too much into the economy and into activities it historically never managed before.

Who says we are still a free country?

Now for the article link – read it – very enlightening and educational:

http://mises.org/story/3446

Peter Schiff on the Clueless Economists In Our Government

Government is looking to put together a committee that will spend billions to find the causes of the financial crisis. What a scam….

The causes were government intervention and regulation – Obama can save billions and instead buy Thomas E. Woods’s book and it will be more than anything he learned in Harvard:

http://www.amazon.com/Meltdown-Free-Market-Collapsed-Government-Bailouts/dp/1596985879

US Dollar Rally to End

Jim Rogers, the Sage Of Singapore, has been pretty accurate in his predictions so far. He predicts now that the dollar rally will end soon. His reasoning is pretty tight and I would be the last person to disagree with him.

My friends and people I know have been preparing for this for years and buying gold and silver. I bet buying Euro and British Pounds is also a good idea now. I would not bet on US stocks though as the stock market only has sucker rallies – there is no increase in productivity in the US. This is the key to economic growth, not consumption and spending. Consumers are realizing borrowing to spend can only last so long.

Click here for full story.

http://www.bloomberg.com/apps/news?pid=20601100&sid=a3YnR0N8LgpQ&refer=germany

Excerpt:

May 12 (Bloomberg) — The dollar’s rally is set to end in a “currency crisis,” investor Jim Rogers said, adding that he may bet on a slide in equities after nine weeks of gains.

The advance in the U.S. currency has been driven by investors covering their short sales, Rogers, 66, said in an interview with Bloomberg Television in Singapore. He may consider adding to his holdings of the yen and prefers the euro to the dollar or the pound, the investor added.

“We’re going to have a currency crisis, probably this fall or the fall of 2010,” Rogers said. “It’s been building up for a long time. We’ve had a huge rally in the dollar, an artificial rally in the dollar, so it’s time for a currency crisis.”

The dollar has climbed against all of the so-called Group of 10 currencies except the yen over the past 12 months, according to data compiled by Bloomberg. The U.S. currency was at $1.3592 per euro today from $1.3582.

Rogers joins “Black Swan” author Nassim Nicholas Taleb in avoiding the U.S. currency. Taleb told a May 7 conference in Singapore he preferred gold and copper to the dollar and the euro as the global economy faces a “big deflation.”

US Bombs Three Afghan Villages Killing 150 Civilians

In the early hours of Tuesday morning, the US bombed three villages (of mostly poor farmers) in Afghanistan to pieces. The Independent reports 147 civilians have been killed in those air strikes.

One old white bearded man was crying over several bodies he had recovered – he had lost 30 family members in the bombings.

Robert Fisk says we have become the same as Israel.

And of course, the reason is quite simple. We live, they die. We don’t risk our brave lads on the ground – not for civilians. Not for anything. Fire phosphorus shells into Fallujah. Fire tank shells into Najaf. We know we kill the innocent. Israel does exactly the same. It said the same after its allies massacred 1,700 at the refugee camps of Sabra and Chatila in 1982 and in the deaths of more than a thousand civilians in Lebanon in 2006 and after the death of more than a thousand Palestinians in Gaza this year.

Read his complete article and thoughts on the botched bombing:

http://www.independent.co.uk/opinion/commentators/fisk/robert-fisk-civilians-pay-price-of–war-from-above-1680408.html

This is what causes terrorism. This is what causes suicide bombing – there is a whole scientific research conducted on the subject done by Dr. Robert Papes in his book “Dying to Win: The Strategic Logic of Suicide Terrorism”.

One of his conclusions is that the fact is that every suicide terrorist campaign has had a clear goal that is secular and political: to compel a modern democracy to withdraw military forces from the territory that the terrorists view as their homeland.

Bush’s war on Terror is now Obama’s. As mentioned many times by countless people – Afghanistan is called “The Graveyard of Empires” for a reason. No one has ever won there – all great Empires in the past have gone to die there. Now it is America’s turn.