Liberty Forged

the State has no money of its own, so it has no power of its own. ` Nock

there, so pres. bush said it. but ron paul came 1st and with a better, more eloquent solution

Posted by Jesse on September 25, 2008

now the question is what direction the people want to go? and how will this match up with the direction that many of our economically ignorant political leaders take us? especially considering the vast amount of power they have, are excercising, assume, and have reliquinshed to an “independent” closed-door unelected body, The Federal Reserve.

Of course, I think they should have heeded Ron Paul’s advice: Why We Need Ron Paul

now that the primaries are over and the one guy who spent every chance to speak on the monetary issue isn’t running anymore, what do we have left but the same old washington DC? pressure your congresspeople i suppose. oppose this bailout. lets’ not go down this road any further. this is an opportunity to make a stand.

The Bogus Finanacial “Crisis”

Mike Rozeff is a retired professor of finance and has had some great insights/layouts on this whole deceptive boondoggle. be sure to read his latest articles if you are still confused.

Michael Rozeff Archives

Rozeff’s latest blog entry on lewrockwell.com below:

Bernanke’s premeditated rape

Posted by Michael S. Rozeff at September 24, 2008 07:13 PM

As if Paulson’s bailout were not enough, Bernanke in testimony called for a premeditated rape of the taxpayer. (Thanks to Bill Jones for calling my attention to the Bloomberg article.)

Bernanke had the unbelievable impudence to recommend that the government buy the bank’s devalued assets at their maturity values (par) of 100, when they currently are thought to be in the range of 35 down to 0.

He had the insulting insolence to attempt to sell this additional and outright wealth transfer from taxpayers to banks by telling the Senate Banking Committee that it was accounting rules that was making them value the assets at a fire-sale price. This is a BIG LIE and/or Bernanke is a total idiot when it comes to finance. I think it’s a BIG LIE. I also think he knows no finance. He does not think that the existing prices are accurate reflections of their true values. But there is no better measure of what they are worth than what they can fetch in the market, which is near zero for much of the toxic paper.

If the FDIC sold the assets at auction, they’d fetch what they are worth. As we learn the details of the Paulson-Bernanke approach, we can see that what they propose is far worse than an FDIC procedure.

Congress should scuttle the whole thing, and Bernanke-Paulson should be turned out to pasture where they belong.

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3 Responses to “there, so pres. bush said it. but ron paul came 1st and with a better, more eloquent solution”

  1. simplemathfinancialsolutions said

    Of course, I think they should have heed Ron Paul’s advice: Why We Need Ron Paul

    We agree here!!!!

    The S.M.F.S. Crew

    http://www.simplemath.info

  2. SPP said

    Il faut cultiver notre jardin. [We must cultivate our garden.]FrancoisMarieArouetVoltaireFrancois Marie Arouet Voltaire, 1694-1778, Candide, 1759

  3. World News said

    If they called me up, I would puke.SammyHagarSammy Hagar, on Van Halen

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