Saturday, Sep 20, 2008
We need to stop funding the culprits who brought us this debacle at our expense.
The Truthseeker: It's the Derivatives, Stupid!
The Fed is buying an insurance company? Where exactly is that covered in the Federal Reserve Act?
The Associated Press calls it a "government takeover," but this is not your ordinary "nationalization" like the purchase of Fannie/Freddie stock by the U.S. Treasury. The Federal Reserve has the power to print the national money supply, but it is not actually a part of the U.S. government. It is a private banking corporation owned by a consortium of private banks. The banking industry just bought the world’s largest insurance company, and they used federal money to do it. Yahoo Finance reported on September 17:
comprehensive background stuff
Posted by malct @ 09:18 AM (311 views) Add Comment
4 Comments
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1. malct said...
History is an endless track of bloody footprints. There are periods of calm. Even when world wars are in action there are places where no evidence of it is found. However… however… you really do have to be a moron or deep in desperate or indifferent denial not to be able to see what is going on here.
Les V
http://smokingmirrors.blogspot.com/2008/09/one-last-diatribe-before-we-get.html
2. japanese uncle said...
"If the American people ever allow private banks to control the issue of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers conquered." (Thomas Jefferson)
What we have been witnessing for the past decade is precisely this. Look at the tent cities mashurooming in the US.
3. japanese uncle said...
What does this ever have to do with the HPC? This is the bigger picture behind the rise and fall of the UK house prices. Unless we address the fundamental critical issue, we will keep being haunted by the housing and other asset bubbles for generations to come.
4. plato said...
The warnings are never heeded. The comforts of thinking within a micro-environment are safe in being costricted by their own limits. Expand from one situaution to another in which the real cause may be found and enter a world of very few. Dare to be adventurous. Dare to be inquisitive. Dare to look from the outside in and your understanding will be great but outside the realm of apparent safety.
I repeat : The greatest sin and the root of all sins is cowardism.
HPC is a micro-environment and could not possibly exist on its own.
(plato-- Now.)