Saturday, September 20

Don't know much about the economy

I don't pretend to know the economy. Heck, it's enough for me just to keep up with my own finances. I think I do know who to trust when it comes to an explanation of what is going on and Ron Paul is among those at the top of the list.

Speaking on the recent collapse and government bailout of several big financial institutions he warned:

“We’re talking about big bucks, we’re not talking about hundreds of millions or even hundreds of billions, we’re talking about trillions of dollars, the obligation is immeasurable.”

“The interesting thing is that they (the financial institutions) don’t come to the Congress, I mean the Federal Reserve buys them out, they own it. We as tax payers now own Fannie Mae and Freddie Mac and know one knows how much that will cost. They don’t come to the Congress, we don’t have appropriations, it’s done by secret government, private individuals behind the scenes maneuvering and manipulating and trying to patch things up. While in the meantime, I’m sure there’s a few people making a couple of bucks out of this whole thing.”
I heard Franklin Sanders say once that the Federal Reserve is no more federal than Federal Express. They're not under government control, it's the other way around. We're in deep doo-doo, people, when Fed Chairman Bernanke looks worried and he's showing.

It won't matter who's elected in November because the "secret government" is running the show. The elite are making their millions before the music stops and the taxpayer won't be able to find a chair to sit in.


Triton said...

The Federal Reserve is indeed privately owned. Some of the shareowners just happen to be major financial institutions. Meanwhile, the Fed prints off a bunch of money to bail out such institutions. It's a pretty slick setup.

The ones who are impoverished in this scheme are those who use dollars. The only way to protect yourself is to convert your wealth into hard assets, like gold or land.