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Congressional Leaders Stunned by Warnings

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posted on Sep, 21 2008 @ 08:16 AM
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Originally posted by poet1b
I guess there is one good thing, and that is if the U.S. government purchases these assetts, rather than putting them in control of foriegn investors, it means that the U.S. public will have some say in how these homes are sold on the market, and to who.

It might be a good thing if the government purchases these loans at a discount.


People have a say in what? You mean congress will have a say on who owns these homes and who will live in them. People must understand that the US dollar is going to be worthless soon. How will they get the money to purchase all these assets? Taxpayers, and printing fresh money. The taxpayers will be broke soon enough, and the money is going to drop very fast.

You can't keep printing money. The Feds have to know that, if they don't then just put a damn gorilla to do their jobs for them. I am sure the gorilla will do a better job anyway.

Whoever you vote for it will be a lose-lose situation. McBush will continue on with waging wars which will cost a fortune. Obama will make a universal package which will cost a fortune. If you guys can get Dr. Paul, I am sure he can fix this problem. It will have to take a lot of work but from what I see he knows the economy very well. He has studied the past market crash and knows what is wrong with it.




posted on Sep, 21 2008 @ 08:51 AM
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Personally I think they should follow the money back to these corperations and deliver bills to them. Let them pay 80% of the 700 billion. All the CEO bonuses for 2008 will pay for at least 1/7th of this debt.

There are people who got ARMs that could not afford them, people got their 2nd or 3rd spec homes and couldn't afford them, banks gave out mortgages to people who couldn't afford them. The bankers were greedy and the home buyers were materialistic.

I don't know why they were stunned. Did they not know the greed was that broad reaching? The last time the Republicans had both Congress and the White House we had the Saving and Loans scandal. Correct me if I'm wrong and I apologize now if it isn't.



posted on Sep, 21 2008 @ 09:26 AM
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reply to post by m4edit
 

I think this could help you understand a lot better. This was a series of videos created and put into laymen terms to help the average person understand the complexities of how money works in the United States. It is called "Money is Debt". Each one is 9 minutes long.
Part 1


Part 2


Part 3



Part 4


Part 5 is just the credits really so I am not going to post that one.








[edit on 9/21/2008 by CaptGizmo]



posted on Sep, 21 2008 @ 09:51 AM
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Again, people on this thread keep pointing fingers at the US, it's banking system, the feds, economics.

If the US fails financially so goes the rest of the world financially. In the past 15 years many foreign nations/banks including Canada, Europe, China, Saudis, Japan, etc....on and on bought hundreds of billions of dollars in US debt.

The people selling these packages promised a high rate of return with the high risk investment. Now that there has been a complete collapse in the mortgage market and many other areas all those notes are worthless.

Yes, everyone is hearing internationally about the USA's problems, but their own banks have not told them that they hold this huge debt.

Remember this was all done by design for control of the masses worldwide by a small group. Things will be ok in the long run, but people will have to learn a new way of living, dealing, trusting, and caring about each other.

[edit on 21-9-2008 by Realtruth]



posted on Sep, 21 2008 @ 09:54 AM
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reply to post by CaptGizmo
 



All banks work like this worldwide not just the US, that is how they make money.

Banks existed and this system did long before the USA. Watch the video's very carefully.



posted on Sep, 21 2008 @ 09:58 AM
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Ron Paul is not the only one running around giving these types of warnings. I have heard them since the early 1980s.

Another politician who was working along the same lines was Larry McDonald who was killed on the shoot down of Korean Airlines Flight 007 back in 1983.

Many people knowledgeable in this topic line have been warning that a melt down or economic disaster was looming in a debt money system like the one being used here in the USA and other countries based on the Keynesian economic principles.

Most of these peoples warning of this disaster are believers in the Austrian or Ludwig Von Mises school of economic theory....versus Keynesian economics taught in most public schools and colleges today.

The first person I ever heard speak on this topic and the fractional reserve system used here in this country was Bruce G.McCarthy. It was a very interesting and informative presentation and a few years before I ever heard the name Ron Paul. Ron Paul just happens to be one of the more public survivors of this genre. Most of them like Ron Paul are hardly mentioned in the public news media who are so obviously shilling for the two dominant political parties...political partys who are themselves dependent on this phoney fiat money system to keep and maintain power. The media is so obviously the tool to keep the political process rigged and the public ignorant. It is for this reason ..public ignorance...that Ron Paul will never get far in the MSM.

Oh..before I go any further ..here is a link to a Bruce G McCarthy site
with links to articles on money and debt banking principles at work ..vs ..sound money principles.

goldismoney.info...

While I am thinking about this ..I also know that there are a few towns in America where they have been running their own small time money system in an attempt to get off the debt paper money system used by the bulk of America. I do not know how this has worked out for most. I do however know of one business which began minting silver coins of their own...and the Feds moved in and confiscated their coin/ metal moneys.
It would appear that someone does not want Americans running their own currency or money systems.
What appears to have happened is that sufficient people began demanding that the local banks use and issue these silver coins and they..these banks... complained to the feds. I think these coins were called Liberty Dollars. The problem and conflict came because these townspeople wanted to be paid in these silver coins...not Fed notes.

The conflict which is never cleared up and for which you readers need to train yourselves to spot in articles on these types of issues .....is that whenever you see articles on this the media always prints and uses the quote ..."Legal Tender." Most of you have never heard the term .."Lawful money..or Lawful tender." All they ever educate you on or allow you to hear is the term..legal tender..as if that is all there is in existence.

Lawful money is very different from legal tender.

Lawful money or lawful money of the United States...from

12 United States Code Annotated Section 152


The terms 'lawful money' or 'lawful money of the United States' shall be construed to mean gold and silver coin of the United States.
- Title 12, U.S. Code, Section 152 [12 USC 152]


You are never told or taught that this even exists. This is very different from legal tender.

As to this government measure to prevent the economic disaster looming on the horizon...this can only be a stopgap measure in a phony fiat money system/fractional reserve system as it was back in Richard Nixon's administration. Only plugging the leaks. It will happen again and even sooner...faster ...to the next need for a stop gap....until the moneys are worthless.

Those of you olde enough to remember ...recall what happened in Mexico in the late 1970s or early 1980s. What was not reported was that Mexico got new owners. Those who could bail them out for pennies on the dollar so to speak. This is what will happen here. We will get new owners..who will desire to change our form of government...openly...not hidden anymore. Overtly..not covertly as they have worked to do for over 100 years now.

What most do not know is that this system has gone on since before Ancient Rome...getting nations and governments into debt...collapsing these economies/governments and these people are long gone when the nations collapse. This is a very covered up piece of history if you are dependent on public education to teach it to you.

Thanks,
Orangetom



posted on Sep, 21 2008 @ 10:44 AM
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reply to post by EtSolveMundi
 


L.S.
Why has the USA society (population) allowed that Economic Predators have their way in governing the Federal Macro Economy; directly or indirectly.

Real Predators savage only to fill their bellies and those of their off-springs.

Human ‘PREDATORS’ accumulate wealth relentlessly and unscrupulously, beyond any feeling of compassion for those who are victims of their deeds, either for the soldier send on his tour of “duty” and get killed or the John in the Street who get Jobless and has to raise hungry kids.

How can the government of the USA (explicitly government and not the population of…) earn global respect of other allied governments if the government and specific departments act as “massive human predators”.

Legislation should be altered to realise the above mentioned objectives to return the governing of the Macro Economy of the USA to “civilised” proportions again.

The USA has sufficient scientists in the Macro Economy, Sociology and Legislation to find a balanced solution under the condition that the study, planning and execution are not “bullied” by the Human Predators.

With sincerity, I wish you much strength in your corrective effort,
because if and when the USA sneezes, the rest of the globe will catch a cold.

Openmind (EU)



posted on Sep, 21 2008 @ 10:44 AM
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Ladies and Gentlemen,

It has become a game of figuring out who is telling the truth, this whole mess was already printed in a best seller crash landing by Peter Schiff. He was also Ron Paul's advisor, but still treated like crazy idiot. I've seen Peter on CNN, FOX, etc. anyone who says we are at the bottom is lying??
The bailout money is coming from printing more money which diluting it's value, we the tax payer who have lost homes, families, soldiers and hope will be paying for this administrations lies for decades if we can recover. This is the first time I feel everyone like everyone is out for themselves, these are very scary times!! The damage President Bush has done to this country is greater than any terorist could have done, hence why no attack Bush is doing a better job than any terorist.



posted on Sep, 21 2008 @ 11:26 AM
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Ill bet ya that the owners of the central private banksters are happy to know that there plan for world domination is now well on its way to a reality. It wont be much longer now, better start rolling up your sleaves and get ready for the INPLANT,than you can turn on the TV and whatch dancing with the stars likea good little sheeple.



posted on Sep, 21 2008 @ 11:32 AM
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reply to post by Zepherian
 


That has to be the most ridiculous thing I have ever heard.

1) There is no evidence demonstrating that subliminals work.
2) Subliminals that are suspected of being effective do not take the form that you suggest in the video.
3) Sometimes a cigar is just a cigar.



posted on Sep, 21 2008 @ 11:39 AM
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studioguy2002

I'm afraid you are absolutely right

What Is Really Going On



posted on Sep, 21 2008 @ 12:12 PM
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Here's another little tidbit most people have not become aware of yet, and this idea I heard on Alex Jones:

The most insane part of the buyout is basically the tab is falling onto the taxpayer who will bail out the mortgage companies for billions (levereged many times so as to destroy the dollar, at least), and these companies will then foreclose on a very significant portion of said taxpayers, putting them out on the streets with a destroyed economy and currency, while gaining the property rights to a very large portion of the real estate.

It's the biggest scam in known history imo.

I say let the companies die, and let the state, under democratic pressure, restructure the mortgage markets. One important thing to do would be to forbid foreclosers for a couple of years till this gets settled.

Currently about 1/3 of the US economy is in the financial sector, and when push comes to shove, these people are not producing anything. It is up to the state to come in, relegislate the sector and have some emergency measures in place to prevent recession, depression or just plain destruction of the US economy. Regardless of what happens times will be hard, but any solution that favours the banking sector will ruin the country, it's as simple as that. They are the ones that have to be left holding the debt here, they are the ones that created the debt monster in the first place by suppressing real money and replacing it with a debt based system.



posted on Sep, 21 2008 @ 12:28 PM
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reply to post by Zepherian
 



Currently about 1/3 of the US economy is in the financial sector, and when push comes to shove, these people are not producing anything.


And sadly 70% of GDP is in the service sector. So when the last thing that could produce wealth (paper shuffling) stopped, the services sector goes into a self reinforcing cycle of layoffs. We've been living the Illusion of Prosperity for a long time. Waking up to reality is gonna suck!



posted on Sep, 21 2008 @ 12:32 PM
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It's all about the money, we are no different than chickens in a farm. The government wants to control us, the government is dissconected from reality. If Obama gets elected and if maybe he goes ahead and indicts Bush there will be some satisfaction. As for our economic situation wealthy people are hoping McCain protects them and keeps them in charge. Lower high class and below are behind Obama except people who can't swallow having a blackman as president. Obama international acceptance is very good and Obama will help bring investments and hope to our country's future. My biggest worry is why people are so into palin?
I agree she's very interesting but she is going to be VP!!!! VP doesn't do anything, especially with McCain.



posted on Sep, 21 2008 @ 12:57 PM
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reply to post by Grambler
 
ditto ditto ditto ditto ditto ditto ditto ditto and ditto!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! EXACTLY!!!!!!!! Well said, my friend!




posted on Sep, 21 2008 @ 01:05 PM
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reply to post by orangetom1999
 



OT, You're right about the differences between legal tender and lawful money and about how long the power grab has been going on.

If you'll recall the biblical story of the Egyptian famine in which Joseph was elevated to second-in-command, the people wound up with absolutely nothing in order to stay alive. First they used all their monies to buy food. Then when they were out of money, they offered their land and livestock to keep from starving. When that ran out and the famine continued, they offered their bodies, since that's all they had left and sold themselves into bondage. Seems like a winning combination that is working once again.

All paper money has printed on it, "This note is legal tender for all debts public and private". A note is not an asset; it is an instrument of debt. Just like those used car places that advertise: We tote the note, meaning "we'll finance your debt." We could just as easily use monopoly money for our legal tender for all the innate value dollars have. Their only real value is in the nod they get from the Federal Reserve.

We acknowledge that dollars have value and so it becomes true. We trade fiat money for items of real and intrinsic value. I give you $4 and you give me a gallon of gasoline. But it is not "substance for substance"; it is fiat for substance. We buy land and put ourselves into bondage with our daily labors to obtain our daily bread with the hope of obtaining something of intrinsic value. We acknowledge our servitude by accepting and paying for items of substance with instruments of debt.

This is why property tax is the most onerous of all taxes: because the item of intrinsic value is never really owned by us. We are renters on our own land. When the dollar ceases to be acknowledged as suitable payment for items of value then we will be able to paper our walls or wipe our backsides with it. The items of intrinsic value and substance will no longer be available to us except as we allow ourselves to become the property of our new owners.

We're in a land grab right now. Foreclosures are increasing and those buying up the instruments of debt owed on the foreclosed properties are doing so for pennies on the dollar. What a bonus! Use monopoly money to buy up items of real value! When the dust settles, the property owners will be the only ones with wealth and the rest of us will be chipped/tagged like branded cattle.

If there's any way to save yourselves before you're led to the slaughter house, I suggest everyone do it quickly. Otherwise, we need to have a valuable service or skill to be seen as useful slaves. I suspect that most of us will not be considered useful. If you intend to use your dollars now to buy items of value (food, clothing, etc.) be aware that they'll be stored in a house that's not really yours. Plus, executive orders make it clear that everything you think you own can be confiscated.

Legal tender rather than lawful money was just a tool to get us all to pay for the rope to hang ourselves.



posted on Sep, 21 2008 @ 01:08 PM
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Economists are now beginning to have their doubts about the whole bailout idea:

Good Idea...Not!




"We need to take a bold move. In that sense I think Paulson is right," Luigi Zingales, a Professor at the University of Chicago School of Business who wrote a widely circulated short essay titled "Why Paulson is Wrong,” told Politico.

Zingales fears that the Treasury bailout would effectively turn the entire financial sector into a Government Sponsored Enterprise, complete with the same murkiness and moral hazard that sunk Fannie Mae and Freddie Mac. “It might achieve the final outcome, but it will do so at an enormous cost," he said. "All the troubles we’ve seen with Fannie and Freddie would be seen again and again across the entire financial sector."

President Bush is “asking for a huge amount of power,” said Nouriel Roubini, an economist at New York University who was among the first to predict the crisis. “He's saying, ‘Trust me, I'm going to do it right if you give me absolute control.' This is not a monarchy.” (Roubini told the New York Times that despite these concerns, he also thought the plan could help stave off a recession.)


After reading many articles on this issue, I have to say there seems to be a general concensus that you have some very rich people who weren't quite as smart as they thought they were. They did something very stupid (out of pure greed) and now want to stick the middle class American with the bill.

I also get the feeling that we are in for a world wide economic meltdown, it's just a matter of when, and that current efforts to bail out the system are just an effort to run out the clock on the Bush Administration so that the next Administration, whether McCain or Obama, gets the blame.

I wonder where we'll be one year from today?



posted on Sep, 21 2008 @ 01:13 PM
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Originally posted by studioguy2002
Ill bet ya that the owners of the central private banksters are happy to know that there plan for world domination is now well on its way to a reality. It wont be much longer now, better start rolling up your sleaves and get ready for the INPLANT,than you can turn on the TV and whatch dancing with the stars likea good little sheeple.


I think this is exactly what is happening. THey successully took the american people off of the gold standard during the great depression and took the rest of the world off of the gold standard when they changed the value of the dollar to reflect oil prices instead of gold.

NOw they are creating the 2nd great depression so that they can completely remove the worthless paper currency and replace it with a trackable computer chip imbedded in your body. This will give them complete control over the entire population and any trouble makers. Government dissidents and people looking to make trouble for the rich will be terminated.



[edit on 21-9-2008 by In nothing we trust]



posted on Sep, 21 2008 @ 02:06 PM
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Behold, this was the iniquity of.....Sodom-pride, fullness of bread and abundance of idleness was in her; ...neither did she strengthen the hand of the poor and needy. (Ezekiel 16:49,50)

Conditions have changed greatly with the hoardes of humanity since the days of serfdom; not just physically but mentally as well. Now that we have had a taste of civilization and education, centuries of gradual oppression would be needed to make us once again submit as when we were vassals of the landed nobility.

There was a time in the not too distant past when the money standard was mainly silver, not gold. The common people had silver even if they didn't have gold. It was still lawful money and more available and more widely distributed. Silver WAS the economy. Kind of like $20.00 bills as opposed to $100.00 dollar bills.

In 1894 during the Chinese/Japanese war, a member of the Legislative Council, Hong Kong, China saw the shift from a predominantly silver standard to a gold one. He lamented, "The silver standard countries will soon not only be prepared to supply their own needs, but also to invade the gold standard countries.

A British Consul General at Shanghai, China also bemoaned the shift from silver to gold. He wrote, "the demonetization and hence depreciation of silver, leaving gold the standard money in civilized lands is another item which depresses labor and profits capital. The continual rise in the value of gold, as compared with that of silver, has changed everything. British goods got so dear in their silver value that the Orient was force to make for itself, and the decline in the value of the white metal has so helped it in its work that it cannot only make sufficient for itself but is able to export them to advantage. The rise in the value of gold has doubled the silver price of British goods in the East and has made their use almost prohibitve, while the fall in the value of silver has brought down by over a half the gold price of Oriental goods in gold using countries, and is continually increasing the demand for them."

Many of the biblical endtime prophecies are seen by the keen observer to be met in the demonetization of silver. The farmers sold the products of their labor to compete with the products of countries doing business on a silver basis. They sold for 'depreciated" silver, yet their land, tools, clothing, wages, interest on property mortgages are all payable in enhanced gold. If they received payment in silver and paid out the same amount in gold, they lost about 1/2 when gold was double the value of silver.

Before the the demonetization legislation passed in 1873, a silver dollar was worth 2 cents more than a gold dollar. By about 1936, 2 silver dollars were needed to equal 1 gold dollar (in actual value, outside the nation creating and using them at a fixed valuation like bank notes). Great Britain was the leader in this trend.



[edit on 21-9-2008 by whitewave]



posted on Sep, 21 2008 @ 02:16 PM
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reply to post by Zepherian
 


Sorry, but you don't seem to understand, while the U.S. is only 1/20th to worlds population, we are 1/5th of the worlds GDP. China and Japan are so tied to the U.S. economy that they fix their currency to the U.S. currency to give them a trade advantage. The European Union is also highly tied to the U.S. economy, and the pacific rim as well. Tiawan, S. Korea, Vietnam, and the Phillipines are all completey tied to the U.S. economy, as well as Mexico.

If the U.S. economy collapses, so does the world economy.

www.visualizingeconomics.com...

www.visualizingeconomics.com...




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