[Eli]

Every US citizen needs to read this blog.

The Fed in the Bear Sterns bailout has said that they will transfer any loss on the deal directly to the Treasury. Treasury Sec. Paulson in a letter to the Fed said that they would accept any losses. This action amounts to nothing less than the Fed enacting a tax with no vote from Congress this is a power that they do not have but have taken illegally. Now is the time to rise up and oppose this action.

Fed taking power.

[dukey]

good luck getting your fellow americans to stand up and appose anything

most are clueless to the fact the federal reserve is a private bank

[firestarter]

If you merely disagree with that megalomaniac who runs that forum you get booted. In fact he shut the forum down today except for those sycophants who bury their heads up his ass.

At any rate there are those at his forum who think this Fed action was within their legal charter. I, myself, am not sure.

Is it a back door, POTENTIAL, bailout? Yes. Is it CLEARLY illegal? No. Is it something clear enough for J6P to rally around? No way.

I'm open minded, and willing to learn. Can you link any other sources besides his regarding the illegality of the Fed's BSC actions? He seems like a lone wolf on this allegation.

[BigTex]

I've got my battle axe, where do I report?

[Eli]

Firestarter, I hear what you are saying but the fact that the Fed then looked to the Treasury to bless their actions shows that even the Fed was unsure.

The Fed is a private bank with very little direct gov. oversight and they are taking on powers that in reality are bailing out wall St.

I also agree that KD/ Genesis can be a total asshole but really that is that is the nature of most of these wall st. trader type guys, but that does not mean he is wrong.

Oh well don't do shit, just realize that the Fed is taking over and the entire US gov. and will have the power to destroy us all at there whim. We all should just fuck off and die.

[BigTex]

$this->bbcode_second_pass_quote('Eli', 'F')irestarter, I hear what you are saying but the fact that the Fed then looked to the Treasury to bless their actions shows that even the Fed was unsure.

The Fed is a private bank with very little direct gov. oversight and they are taking on powers that in reality are bailing out wall St.

I also agree that KD/ Genesis can be a total asshole but really that is that is the nature of most of these wall st. trader type guys, but that does not mean he is wrong.

Oh well don't do shit, just realize that the Fed is taking over and the entire US gov. and will have the power to destroy us all at there whim. We all should just fuck off and die.

[Dreamtwister]

Here's the problem:

In order for the people to take action, they would need to have at least a rudimentary understanding of fiat economics. Since they quite clearly do not possess that knowlege, no action will be taken.

How do you fight an enemy who you can't even identify, let alone understand?

[firestarter]

Eli,

I'm all for doing something, but just not sure of how to go about it. If Denninger is correct--which I'm not convinced he is-- then I believe there will be a large grass roots effort to shake the Fed up. So far, he seems to be the only blogger howling about the Fed's so called illegal move.

One of the posters over at his forum yesterday, who goes by the name Nothing, said she did not think the Fed acted outside its charter. Denninger posted back at her to shut the fuck up. Soon after he went loco.

The poster, Nothing, he went off on is a sharp Austrian School thinker. She has copious postings regarding fractional reserve banking, and is philosophically aligned with Mises. She thinks Genesis is off base here, and thus she did not sign his petition to impeach Bush and Paulson. The main point is, though, she is no central bank lackey, but regarding BB's backstopping of JPM in the acquisition, to her mind, nothing is amiss. She could be wrong, but that's why I want to see other expert views out there consistent with Denninger's. So far I haven't seen them.

BTW, this, as framed by Denninger, is not a J6P issue. It's much too opaque.

[MacG]

$this->bbcode_second_pass_quote('Dreamtwister', 'H')ere's the problem:

In order for the people to take action, they would need to have at least a rudimentary understanding of fiat economics. Since they quite clearly do not possess that knowlege, no action will be taken.

How do you fight an enemy who you can't even identify, let alone understand?

[Eli]

There is a list on his blog of your State Congressmen and Senators you can pick up the phone and call them.

I called Congressman Dan Boren's office this morning and let them know what I was thinking. They do actually keep track of calls, if everyone calls in and tells them hey! don't let the Fed bail these thieves out it will get on their radar.

It does not matter what others do about this situation it only matters what you yourself do.

$this->bbcode_second_pass_quote('', '
')I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.
....

"If the American people ever allow private banks to control the issue of their currency, first by inflation then by deflation, the banks and the corporations will grow up around them, will deprive the people of all property until their children wake up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
Thomas Jefferson (1743-1826) Third president of the United States.

[Iaato]

The only way to win this game is not to play. The playing field is not level.

http://jessescrossroadscafe.blogspot.co ... risis.html

$this->bbcode_second_pass_quote('', '"')If you wish to do more, walk away. Stop buying non-essential purchases for the rest of this month. Buy only what you absolutely need to live. Pull your money out of any of the big money center banks and broker/dealers. Stop using credit cards from the big money center banks. Pull your money out of the US stock market. Bring your money closer to home and put it into a sound local bank. "

[Specop_007]

I quit caring about the time the .gov decided to take money out of my paycheck to give it to someone else.

Only difference is who the someone else is in this case.

if you wanted to raise this battle flag you should have done it in the 30's or so when they shoved all these wealth redistribution programs down our throats known as "social programs".

Only difference now is that instead of Congress saying "give us more" it might be someone else. Same song, different singer.

[MacG]

$this->bbcode_second_pass_quote('Iaato', 'I')f gold wins, the game is over for federal taxation, the financial industry in its entirety, estate taxation, and many other structures that support the current structure.

[greenworm]

They've owned you since the early 1900's and they will continue to own you. They plan in advance, your fellow americans watch tv like it is their savior, you don't have a shot in hell. I'd concentrate on saving yourself by paying down debt and learning how to grow your own food and energy (wood), that is seriously the best thing you can do.

[Iaato]

That's good, MacG. Since we're not going to base our paper money on anything, then maybe we should convert over to the cashless society now, before a loaf of bread costs $7 million dollars.

You see, you can print paper that has no backing. And this administration is taking advantage of it. We will go into hyperinflation, instead. We'd better have the kinks ironed out of those RFID debit chips before we do, or we'll have to worry about having enough steel around to make enough wheelbarrows.

[Eli]

You know to everyone who has already given up and says we are already screwed,

Just get back in line and eat your gruel and shut up.

[MacG]

$this->bbcode_second_pass_quote('Iaato', 'T')hat's good, MacG. Since we're not going to base our paper money on anything, then maybe we should convert over to the cashless society now, before a loaf of bread costs $7 million dollars.

You see, you can print paper that has no backing. And this administration is taking advantage of it. We will go into hyperinflation, instead. We'd better have the kinks ironed out of those RFID debit chips before we do, or we'll have to worry about having enough steel around to make enough wheelbarrows.

[Pretorian]

$this->bbcode_second_pass_quote('MacG', '')$this->bbcode_second_pass_quote('Iaato', 'I')f gold wins, the game is over for federal taxation, the financial industry in its entirety, estate taxation, and many other structures that support the current structure.

[Pretorian]

thimbles, sorry

[MacG]

$this->bbcode_second_pass_quote('Pretorian', 'S')alt, sugar, soda, aged spirits will last indefintely. Honey, red wine, will last many times more than the time you'll live, to name a few.