Posted on 09/25/2008 9:45:36 PM PDT by joanie-f
Edited on 09/30/2008 5:17:29 PM PDT by Jim Robinson. [history]
I urge every reader here to take ten minutes out of your day sometime soon and watch this video. Then, if you believe as I do, that it is the most powerful, most truthful exposé available as to the criminal government/Wall Street elements that are behind our current economic meltdown, please send it to as many people as you can.
I know many of you have volunteered, or will be volunteering, to work for the election of McCain-Palin. I will be doing the same. But there is no amount of envelope licking, phone calling, or wearing out of shoe leather that will be able to match the distributing via e-mail of this ten-minute video that fingers the culprits that the media are attempting to keep under wraps. Those culprits are directly involved in this election and the desire to attain the White House and retain control of Congress.
We cannot allow that to happen, and I believe the compilation of facts that this video represents, if placed in the hands of all thinking Americans, will see to it that it doesn't.
In his attempt to explain the causes of this crisis, the President insinuated in his speech of last night that it all started because America’s economy was considered so brilliant that it attracted investors from all over the world. As a result, banks and financial institutions were awash in money, and that state of affairs planted the seed for this debacle. (*choke*)
That is the greatest whitewash of the reasons for this catastrophe imaginable. Either President Bush is completely ill-informed and he believes that tripe, or he is the most blatant liar since Gepetto’s son walked off the woodcarver’s bench.
After the President’s speech, and after I stopped spitting nails, my husband and I watched Brit Hume and his panel on FoxNews offer up a brief analysis.
Charles Krauthammer, who is among my favorite political pundits, opined that the speech was quite good, and that he was surprised that the President spent virtually one-fifth of it attempting to explain the causes of the current crisis – since, in Krauthammer’s opinion, doing so amounts to simply an ‘academic exercise’.
An ‘academic exercise’? To discern what caused this major economic meltdown? Shall we just accept the notion that ‘too much foreign money’ floating around in American banks was the catalyst?
If we don't uncover the reason for this crisis, and determine who was responsible for it, will there be any reform? Or, post-bailout, will the perpetrators eventually continue with business-as-usual? Anyone who has an even rudimentary knowledge of government at any level has the answer to that question at his fingertips.
We are being fed whitewashed reports about the cause of this economic meltdown. If the true perpetrators of this massive criminal undertaking that promises to have devastating effects on the American people for decades to come are not uncovered, removed from power, and punished, there is no hope of realizing the kind of all-encompassing economic and political reform that will be necessary to not only stabilize our economy, but to ensure our very survival as a free republic.
~ joanie
Please make time to watch and forward to all you can.
BTTT
bfl
Thanks, joanie....
Great video!
bookmark
Hi Joanie. Thank you very much for the ping. It’s a very good video, except for one thing... A lot of the frames move WAY too fast. I’m a VERY quick reader, but even I had trouble keeping up with a lot of it - even the partial sentences. (Especially when they were highlighting some of the newspaper quotes, and flashed a lot of the charts and such.)
So, I don’t know if you put this video together or not, but if you did I would definitely suggest slowing it down and exposing each frame for a bit longer. As I said, it’s great - but I think a lot of people will find it moves to fast to follow. JMHO. I will STILL pass it along, though!
I did not put it together (wish I could claim credit).
I had the same problem that you did, so I hit the ‘pause’ button whenever I wanted to stop and focus on something that I knew was going to fly by too fast.
I wish, like you, they had done it differently. But the amount of research that went into putting the video together is astounding.
~ joanie
I agree, Jim. It's just too bad the mainstream media don't see its contents as 'fit to print (or broadcast, or telecast)'.
~ joanie
Good video, thanks for posting and will forward.
Am I the only conspiracy nut out here that believes this is all orchestrated by the Loony Left?
Abject enemies are emboldened and attempting to bring down our American House, our Constitutional Republic wholesale with this election.
We must stand and fight and turn back this depravity, and with God's help, and with grit and determination and a LOT of hard work, we shall.
My Commodities broker sent me this today......
“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
They are doing more damage than any open, foreign enemy could ever accomplish and they must be treated and put down accordingly.
Bump!
I may disagree with Paul on some of his foreign policy stances, but on virtually everything else he is a modern day Paul Revere. Trouble is, this time most of us aren't listening.
Thanks for posting this here.
~ joanie
Allegiance and Duty Betrayed
Bookmarking so I can watch it when I get home...
Agreed, there is a TON of information packed into those 10 minutes!
(I’m having fun getting called a Freeptard on YouTube right now, too! LOL That’s always a blast!)
I have been posting on an investment website for the past few weeks and I am astounded at the number of intelligent investors who have succumbed to the glib arguments of the left.
Best to you and your in these troubling times ...
~ joanie
Allegiance and Duty Betrayed
“If we don’t uncover the reason for this crisis, and determine who was responsible for it, will there be any reform?”
I don’t do video’s joanie-f, because I’m in a rural location that I haven’t access to any connection other than dialup. Takes way too long to download anything, but the plain and simple answer is that basically it was caused by Democrats. Pure and simple.
The tentacles of the Democrat creature are embedded in everything from Government lawmakers, and Bureaucrats to Wall Street to MSM to Unions to Education......the list goes on. All coordinating together under the umbrella of socialism to take this Nation to its knees.
In an article today Bill Clinton admitted it was Democrats, but in the same breath lied about how he was on the side with Republicans trying to reform the system.
In 1976-77 the Democrats wanted so much to pass feel good law concerned with “redlining” by mortgage lenders/banks that they shunned the advice of all but the one source that provided them an excuse to go ahead and create the legislation that would become the Community Revitalization Act, and then President Jimmy Carter signed it into law.
The Industry as far as I can tell managed to skate around the ill enforced law until early in Clinton’s misAdministration. The following link to an article written in 1993 will tell the story better than myself:
http://findarticles.com/p/articles/mi_m1282/is_n25_v45/ai_14779796
From there we know what happened pretty much. The Democrats under Clinton that were appointed to positions, the Democrats that were coerced into positions etc. etc. The Democrat lawmakers covering for each other. The money grubbing bastards were ripping us off every step of the way.
Today we are seeing Reid, Pelosi, Dodd, the MSM, and Democrats in general fighting to keep not only their gravy train going, but also prevent the exposure of their responsibility in the matter.
Anything else anyone wants to attribute to the cause of the meltdown is incidental to the cause. Democrat greed, and lockstep in their Socialist fantasies attempting to take this Nation’s economy to its knees to cause a desire for their type of Socialist change.
As long as there was only the MSM, which they control they had the chance to succeed. They may still yet if we don’t raise enough “H” in the “New Media” to expose them for the enemy within that they are.
It’s really not a Political Pissing match between Political Parties anymore, and hasn’t been for a long time, it’s a war. It’s a war between the Socialist/Democrats whom believe in Power over the people versus the Conservatives whom believe in Power of the people.
That’s my rather simplistic perspective of it all anyway.
Sounds like an oxymoron...but the fact is, this level of economic thuggery and thievery, aimed at destroying this Constitutional Republic, would have been recognized for the treasonous bastardization that it is, and the abject threat that it is, and would have been handled accordingly.
WOW! That is powerful. Thank You!
thank you very much!!!!!!!!!!!!!!!!
You pretty much summed up the basic points covered in the video. It simply adds references to the research behind your facts.
You also cited the most frustrating aspect of this entire debacle -- the fact that the left was the cause, and yet the left is pointing the finger of blame everywhere but back at themselves -- and the left-leaning media is not only allowing them to get away with it, but in many cases orchestrating the scapegoating.
I thought the President had an excellent chance to use the bully pulpit last night to 'educate' the public about the genuine causes of this meltdown, but, as usual, he got weak-kneed and whitewashed the whole thing.
When I brought that up to people today, many responded with, 'But he can't antagonize them -- he needs them in order to accomplish the bailout.'
That kind of compromise of principle with the forces of evil is precisely why we're facing these terrifying circumstances to begin with.
Thank you so much for the insightful commentary.
~ joanie
Allegiance and Duty Betrayed
Thanks, MarMema.
~ joanie
I never out-right supported him as President as I did for Sen. Thompson or McCain but I would ask him to serve in the cabinet. He’s got this socialist grab down.
This, and the news that the Dems wanted 20% of the $700 billion bailout to go to ACORN is much more than "unsettling".
The Obama campaign, the financial mess, the whole Democrat party, and the mainstream media -- all are one huge bunch of corrupt racketeering scum out to destroy this nation.
Civil discourse is NOT going to deter them.
Let’s make sure GWB doesn’t let it happen. I called my lenders early on Thursday and it was assured to me it was was a fannie/freddie bail. It will damage taxpayers. The ones that bought those securities also reside overseas. It’s smoke and mirrors toward socialism.
Absolutely! Especially since ACORN itself is implicated in playing a role in this debacle.
Even in the midst of this crisis -- one that could play out to be an economic/social catastrophe more divisive and destructive than anything we've experienced on the economic front since the Great Depression (with the potential to be even more chaotic) -- the leftists in congress still have the amassing of power and the implementation of a political agenda on the top of their list of priorities.
Anyone who says that such behavior isn't treasonous has no idea of the definition of the word. Not only is the America economy at risk here -- our national securty hangs in the balance as well.
~ joanie
Because of what we have viewed as a fragile economy, and a weakening dollar, my husband and I have moved much of our stock portfolio into cash over the past few months – placing that cash in a money market fund at our brokerage firm.
Throughout the playing out of the sub prime debacle, the crumbling of corporations that were once financial giants, and the ludicrous bailout proposals, we have maintained that stance, continuing to hold precious metals/miners and commodities long-term, but keeping the remainder in cash, which sweeps into the money market account.
A few days ago we received a letter from our online brokerage firm, telling us that the NAV in our money market fund has fallen below $1, due, in part, to the decrease in value of debt securities issued by Lehman Brothers and held by the fund.
Long story short ... as a result, until our funds are redeemed by our brokerage, we will not have access to them for withdrawal or transactions. We were informed that this action is being taken in our best interest ‘in order to limit potential losses’.
We (and millions of other American investors) have been attempting to step back from market speculation during what we determined to be an uncertain economic period (to put it mildly) by putting a significant portion of our savings into what most would consider to be a safe, conservative investment vehicle, and even that decision has been affected by the turmoil.
Which got me to thinking … those who are responsible for the current disaster-in-the-making … just how are they being affected by the results of their corrupt machinations?
The special interest groups that pressured their friends in congress to relax the underwriting standards in order to allow home ownership for people who did not have the financial wherewithal to own a home … are they suffering as much as the ‘average American’ (and the generation to follow) will in bearing the ultimate burden for this travesty?
The members of congress who pressured the mortgage and banking industry to relax the borrowing requirements … are they suffering as much as the ‘average American’ (and the generation to follow) will in bearing the ultimate burden for this travesty?
The financial gurus who got lost in their own importance, and their own power to call the shots while lining their own pockets … are they suffering as much as the ‘average American’ (and the generation to follow) will in bearing the ultimate burden for this tragedy?
My husband and I are only two of tens of millions of Americans whose lives have already been negatively affected. And this recent ‘negative effect’ will prove to be only the tip of a monstrous iceberg.
Today we do not have access to money that we spent a lifetime earning -- money that we placed in what we considered to be a ‘safe’ and liquid location.
Tomorrow, and possibly for the remainder of our lives, we, and tens of millions of our fellow Americans, will be forced to use a large portion of the fruits of our labors in order to pay the debt that was created by an elite group of lobbyists, legislators, and financiers – without our knowledge, and without our approval.
A friend wrote to me the other day, 'I find myself sitting in a high-stakes Texas hold-em game with a lot of chips in the pot that I cannot remember betting.'
And this is just the beginning. Private enterprise is fast becoming nationalized. Enormous financial and political power is being accorded to people in Washington who are unelected by, and unaccountable to, the people.
It is that last paragraph that terrifies me most. The fact that the present and future personal finances of every American are being plundered by an elite ruling class is egregious. But the fact that the United States Constitution is being declared all but irrelevant by the simultaneous swipes of countless bureaucratic pens is a tragedy beyond comprehension.
The days of our existence as a representative republic are numbered, thanks to the ever-increasing power of the governmental, financial, media and academic elite who have no comprehension of the preciousness and fragility of individual liberty, and whose collective sense of allegiance, duty, and integrity could fit into the eye of a gnat.
~ joanie
Allegiance and Duty Betrayed
bump
American changing ping!!! See the video!
Can we just let the anti-bailout mood on both sides work first, and point those well-justified fingers at the Rats later?
I talked to some Rats at the office today, got them good and stoked up about "I hate corporate welfare just like you" and sent 'em off to call Washington.
I don't think I would have done quite as well if I'd spent half an hour telling them the whole mess was their fault.
All over it and shared with my e-mail lists.
BTW folks....
Been reading and listening to other valued sources like Dave Ramsey and such .......comments sought as to worth of the content if ya have time.
Mark to Market
http://www.daveramsey.com/etc/fed_bailout/economic_cleanup_10887.htmlc
Glass Steagall Act
http://www.investopedia.com/articles/03/071603.asp?viewall=1
Stay Safe !
Blatant misuse of a ping list ping...
This is important stuff, folks, as you all know. As I sit here, the thread’s not that long...read it, please.
I pushed that great video all over the place. Thank You!
AMEN! AMEN! AMEN!
INDEED!
INDEED.
OUTRAGEOUS.
And the tip of the
socialist/globalist/Marxist
iceberg.
Thank YOU! I will send that out. It was awesome!!
I spent most of 15 years in the mortgage and mortgage related fields in the Houston area until around 1985. The time period during the early 80's was to be the genesis of much of modern day "creative financing". The story is too involved and would take too long to tell but I'll share this with you: It was quite a ride while it lasted!
Suffice it to say, a similar scenario is playing out today on a much larger scale. Similar path; similar results. The boom turned to bust. Many companies involved in the building, marketing and financing of real estate went out of business. Some, like my employer, cut back dramatically in their participation in Houston and other markets; at the same time releasing about half their sales force. I was one of the casualties.
Other similarities are there. For example, there were red flags being sent up back then by, amongst others, my company. The information re the impending crash was met with all manner of reaction, but for the most part the few that actually cared might ask, "Well, what can we do about it?" The answer leading up to the current crash is probably the same as back then: Not much.
There is apparently a point of no return, that is, a point at which the "bubble" has reached XX.XX proportions, when a crash, or at least a significant "adjustment", will occur. I don't know if these cycles can be avoided given the desire in many/most industries for a competitive advantage over one's competitors. It may be as natural as the sun coming up for all I know.
Well, I've rambled a bit and have not really added much to the conversation about what, if anything can be done at this point about the problem. Except maybe to make an observation and steal an old idea and put it in new clothes: Any government big enough to fix this mess is big enough to create the mess in the first place.
The states need to reclaim their rightful powers under the constitution.
P.S. It took about five years to recover, but recover it did! Houston and Texas not only survived the crash(es), but have since flourished, and may in fact be the better off for it.
Because of what we have viewed as a fragile economy, and a weakening dollar, my husband and I have moved much of our stock portfolio into cash over the past few months – placing that cash in a money market fund at our brokerage firm...........
NAV in our money market fund has fallen below $1, due, in part, to the decrease in value of debt securities issued by Lehman Brothers and held by the fund.........................
Long story short ... as a result, until our funds are redeemed by our brokerage, we will not have access to them for withdrawal or transactions. We were informed that this action is being taken in our best interest ‘in order to limit potential losses’.
//////////////////////////////////
25billion FORD GMC ..wasn’t enough, need more
30billion BEAR .....wasn’t enough, need more
85billion AIG .....wasn’t enough, need more
138billion LEHMAN...wasn’t enough, need more(they tried to hide that one)
200billion FANNIES...wasn’t enough, need more
770billion WHO ELSE? and no one will ask the question,” Will this be the last dollar we have to spend”? ....
...........Because it won’t be.
Spend $700 billion, 5 percent of our gross domestic product?
Take your money before your money is taken. This is the only language and power D.C. will understand.
I say beat them to the punch.
We must Run ON THE BANKS AND STOCKS.
A) When they stop the bailouts we stop our run.
B) When they put folks in jail, like they did Milken, then we start to reinvest.
C) They start bailouts again, OFF TO THE RACES AGAIN.
D) GO TO STEP A.
joanie-f nice work!
DC Chaptter - in case you just got back from the planet Mongo.
BTTT
. Financial institutions are “designated as financial agents of the Government." This is the New Deal to end all New Deals.
Communist countries operate this way, right?
. 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.
We cannot let this happen. No govt entity should be unsupervised. Even the IRS needs oversight!
Having said that, I do agree something needs to be done to save our economy but we need a better plan. Anytime the government "rushes" to fix something the middle class pays through the nose!!!!!
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