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Sunday, February 8, 2009

Here's The Deal, Folks

American Scofflaw

This is the usual placation statement from a politician.

The fact is that the US financial system is fundamentally flawed in that the moment the Federal Reserve started issuing debt-based notes, more money is owed to the bank than is actually in existence. The system works only so long as new borrowers can be found to allow creation of new paper money which is used to pay the older interest debts. When people stop borrowing, as they did when the US Government handed tax credits top corporations to send US jobs to other countries, then the whole pyramid scheme starts to collapse, which is what is happening now.

What the bailouts amount to is the government borrowing ON Y0UR BEHALF (AND WITHOUT YOUR PERMISSION), to create the new money to cover the current outstanding debts by the banks.

But it is not a permanent solution. In fact, it will make the eventual crash far worse, because there is interest owed on the money 'Obushma' has borrowed for the bailouts, and the money to cover that interest doesn't exist!

About all the bailouts are doing is clearing up the books at the financial institutions by dumping that toxic debt on YOU!

I'm telling you that's exactly what will happen!!!!!!!!


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