RHINEBECK NY, 22 September 2008 -- On the evening of September 18th 2008, the American democratic system was replaced by a financial dictatorship.
What was billed as a "Federal Bailout" was nothing less than a bloodless coup. The Wall Street Gang had taken over the White House and control of Washington. Congress promised not to resist, and pledged to pass legislation as demanded.
Warning that America's financial system was perilously close to collapse unless immediate action was taken, economic martial law was declared.
The American people were told that from this day forward, they would be responsible for paying off the bad debt from any failing private financial enterprise deemed "too big to fail."
Treasury Secretary Henry Paulson, spearheading the coup, sought unrestricted authority to spend the nation's money as he saw fit. The first order of business by the Economic Czar was to take trillions of dollars of bad debt from crumbling investment banks and insurance companies and transfer it to the backs of already debt-burdened citizens.
"We're talking hundreds of billions," said Paulson, former CEO of Goldman Sachs, one of the "too-big-to-fails." Within days of the takeover, the number jumped into the trillions. This will put a "significant amount of taxpayers' money on the line," he said.
Quick & Clean
In simple language, with cameras rolling, in broad daylight, the American public was robbed blind. This wasn't a magic show. There were no hidden tricks or sleights of hand. "We want this to be clean, we want this to be quick," demanded the Economic Czar.
"We need to get this done quickly, and the cleaner the better," intoned President Bush, with the urgency of his "smoking gun that could come in the form of a mushroom cloud" logic he used as a pretext to invade Iraq. "The risk of not acting would be far higher," Bush said, promising to "work with Congress to get a bill done quickly."
Having accurately forecast the current financial debacle, we confidently now forecast that taking swift action will prove - as it did in Iraq - far more catastrophic than allowing Wall Street to suffer the consequences of its greed and mismanagement.
Presidential candidate Barack Obama promised to "fully support" the plan and called on Congress to take "immediate action." Republican challenger John McCain said he would further review the proposal while Congressional leaders from both parties have signed on with their support.
Americans were told they would have to pay to rescue the very companies whose unregulated greed, fraud and recklessness had created the crisis in the first place. Considered "nobodies" by the authorities, the people had no voice and had no choice.
"I know of nobody who is arguing over the amount of money or even about that the secretary ought to have the authority to purchase these toxic instruments, these bad debts,'' bowed Senator Christopher Dodd, the Democratic chairman of the Banking Committee.
Publisher's Note: If you are a "nobody" who cares about "the amount of money," and does not believe "the secretary ought to have the authority to purchase these toxic instruments," take action NOW. While signing petitions or calling the White House or Washington representatives often proves fruitless, in this emergency we suggest you call, write, pester, hound, and protest.
Call your newspaper, radio and TV stations. Talk to reporters covering the "DC Heist." Tell them what you think and what you want. Write editorials. Use the Internet as a call to action. Use your imagination, wits and common sense to have your voice heard and make your will known. Until Congress votes on the plan, it is not yet a fait accompli. Tell them if they vote "yes," you'll vote "no."
Trendpost: While the transfer of "toxic instruments" from private firms to the national debt will enrich those companies that once had owned them, the measures taken will do nothing to keep the sinking US economy from going under.
The biggest casualty, besides indentured American servants held responsible for paying off the debt, is the US dollar. The greenback's getting slaughtered on the foreign exchanges and gold prices, the safe-haven commodity, are once again soaring. As we previously forecast, we are still predicting "Gold $2000."
Founder/Director, The Trends Research Institute
Publisher, The Trends Journal
Telephone: 845.876.6700 - Ext. 4
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