Curious, given the mess the country is in, are you
for or against this bail out answer?
EXTREMELY URGENT! PLEASE FORWARD!
Wednesday, September 24, 2008
Dear Friends,
Whenever a Great Bipartisan Consensus is announced,
and a compliant media assures everyone that the
wondrous actions of our wise leaders are being
taken for our own good, you can know with absolute
certainty that disaster is about to strike.
The events of the past week are no exception.
The bailout package that is about to be rammed
down Congress' throat is not just economically
foolish. It is downright sinister. It makes a
mockery of our Constitution, which our leaders
should never again bother pretending is still
in effect. It promises the American people a
never-ending nightmare of ever-greater debt
liabilities they will have to shoulder. Two
weeks ago, financial analyst Jim Rogers said
the bailout of Fannie Mae and Freddie Mac made
America more communist than China! "This is
welfare for the rich," he said. "This is
socialism for the rich. It's bailing out the
financiers, the banks, the Wall Streeters."
That describes the current bailout package to
a T. And we're being told it's unavoidable.
The claim that the market caused all this is
so staggeringly foolish that only politicians
and the media could pretend to believe it.
But that has become the conventional wisdom,
with the desired result that those responsible
for the credit bubble and its predictable
consequences - predictable, that is, to those
who understand sound, Austrian economics -
are being let off the hook. The Federal
Reserve System is actually positioning itself
as the savior, rather than the culprit, in
this mess!
* The Treasury Secretary is authorized to
purchase up to $700 billion in mortgage-related
assets at any one time. That means $700 billion
is only the very beginning of what will hit us.
* Financial institutions are "designated as
financial agents of the Government." This is
the New Deal to end all New Deals.
* Then there's this: "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." Translation: the
Secretary can buy up whatever junk debt he wants
to, burden the American people with it, and be
subject to no one in the process.
There goes your country.
Even some so-called free-market economists are
calling all this "sadly necessary." Sad, yes.
Necessary? Don't make me laugh.
Our one-party system is complicit in yet another
crime against the American people. The two major
party candidates for president themselves initially
indicated their strong support for bailouts of
this kind - another example of the big choice
we're supposedly presented with this November:
yes or yes. Now, with a backlash brewing, they're
not quite sure what their views are. A sad display,
really.
Although the present bailout package is almost
certainly not the end of the political atrocities
we'll witness in connection with the crisis,
time is short. Congress may vote as soon as
tomorrow. With a Rasmussen poll finding support
for the bailout at an anemic seven percent, some
members of Congress are afraid to vote for it.
Call them! Let them hear from you! Tell them
you will never vote for anyone who supports this
atrocity.
The issue boils down to this: do we care about
freedom? Do we care about responsibility and
accountability? Do we care that our government
and media have been bought and paid for? Do
we care that average Americans are about to be
looted in order to subsidize the fattest of
cats on Wall Street and in government? Do we
care?
When the chips are down, will we stand up and
fight, even if it means standing up against
every stripe of fashionable opinion in politics
and the media?
Times like these have a way of telling us what
kind of a people we are, and what kind of
country we shall be.
In liberty,
Ron Paul
|