Hmmmm... the same groups of people who got us into this mess are the same groups of people who are telling us that they have the solution to fix this mess. Simply put this is like the heroin addict telling his AA group that he has the solution to fixing his addiction and doesn't need outside advice. I mean, how insane
is it that the same people who raped, pillaged... okay, okay... I mean, "mismanaged" the banking system are given more money
to fix the problem they created.
And, yes, Obama is now appointing some of these same people to head up his economic team (besides Buffett). Meanwhile, the economic professors who predicted that this was happening long ago are being marginalized and their ideas are ignored.
The solution - at least the one that is being given to the bewildered herd - is taking $700 billion in money that we don't have and borrowing it from the Fed - which is NOT a federal bank, but a private bank that is owned and operated for profit by the very same groups of people who tell us they have the solution. The US taxpayer then pays interest on the $700 billion which will be pocketed by the very same people who helped to create the mess and who also CREATED THE MONEY OUT OF THIN AIR! And, finally, the principle on the loan will be paid to these same people who created the money out of thin air.
Wow! What a great racket. I'm quite certain that this minority of bank owners are laughing hysterically at how fucking stupid the bewildered herd really is.
“The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance 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 their Property until their Children will wake up homeless on the continent their Fathers conquered” -Thomas Jefferson
Furthermore, the FED is violating the Constitution. When it was first created they stayed within the bounds of the Constitution, but ever since 1971 when Nixon took us off the gold standard they have been operating in direct violation of the Constitution... see below.
US Constitution Article I, Section 10:
No state shall enter into any treaty, alliance, or confederation; grant letters of marque and reprisal; coin money; emit bills of credit; make anything but gold and silver coin a tender in payment of debts; pass any bill of attainder, ex post facto law, or law impairing the obligation of contracts, or grant any title of nobility.
No other nation in the history of mankind has ever successfully made a fiat monetary system work. It has been tried many many different times throughout the thousands of years of history and it has always failed.
The levels of debt are out o control...
Check out this link Crash Course Chapter 6: What Is Money? | Chris Martenson
This guy does a great job of explaining -simply - the monetary system. Chapters 6, 7, 8, and 9 are just about the money system. But, it is well worth watching all of the chapters.