On March 3rd, Richard Fisher – President of the Federal Reserve Bank of Dallas – told the Council on Foreign Relations:
A truly effective restructuring of our regulatory regime will have to neutralize what I consider to be the greatest threat to our financial system’s stability—the so-called too-big-to-fail, or TBTF, banks. In the past two decades, the biggest banks have grown significantly bigger. In 1990, the 10 largest U.S. banks had almost 25 percent of the industry’s assets. Their share grew to 44 percent in 2000 and almost 60 percent in 2009.
The existing rules and oversight are not up to the acute regulatory challenge imposed by the biggest banks. First, they are sprawling and complex—so vast that their own management teams may not fully understand their own risk exposures. If that is so, it would be futile to expect that their regulators and creditors could untangle all the threads, especially under rapidly changing market conditions. Second, big banks may believe they can act recklessly without fear of paying the ultimate penalty. They and many of their creditors assume the Fed and other government agencies will cushion the fall and assume the damages, even if their troubles stem from negligence or trickery. They have only to look to recent experience to confirm that assumption.
Some argue that bigness is not bad, per se. Many ask how the U.S. can keep its competitive edge on the global stage if we cede LFI territory to other nations—an argument I consider hollow given the experience of the Japanese and others who came to regret seeking the distinction of having the world’s biggest financial institutions. I know this much: Big banks interact with the economy and financial markets in a multitude of ways, creating connections that transcend the limits of industry and geography. Because of their deep and wide connections to other banks and financial institutions, a few really big banks can send tidal waves of troubles through the financial system if they falter, leading to a downward spiral of bad loans and contracting credit that destroys many jobs and many businesses.
Fresh off his health care reform victory, President Barack Obama will quickly move to overturn the DOD’s “Don’t Ask, Don’t Tell” policy prohibiting sodomites from serving openly in the US military. He will also move to grant amnesty for millions of illegal aliens. These are Obama’s next two agenda items, as he attempts to fulfill his campaign promise to “remake America.”
Already the Pentagon has opened the door for women to serve alongside men aboard submarines, something the Navy has never allowed–for what should be obvious reasons. Furthermore, Secretary of Defense Robert Gates just this week closed the door on rank and file military personnel from “outing” homosexuals that they discover among the troops. This move is seen as a precursor to the soon-coming complete undoing of “Don’t Ask, Don’t Tell.”
It is difficult for me to imagine that frontline troops could tolerate open homosexuals serving among them. Over the past 30 years, I have spoken with hundreds (literally) of active duty and retired frontline soldiers, sailors, Marines, and airmen, and I can unequivocally say that not one of them supported allowing sodomites to serve openly in the US military–especially in combat units. Not one! And the vast majority of them were also opposed to women serving in combat units.
There was a time when the pen was mightier than the sword. That was a time when people believed in truth and regarded truth as an independent power and not as an auxiliary for government, class, race, ideological, personal, or financial interest.
Today Americans are ruled by propaganda. Americans have little regard for truth, little access to it, and little ability to recognize it.
Truth is an unwelcome entity. It is disturbing. It is off limits. Those who speak it run the risk of being branded “anti-American,” “anti-semite” or “conspiracy theorist.”
Truth is an inconvenience for government and for the interest groups whose campaign contributions control government.
Truth is an inconvenience for prosecutors who want convictions, not the discovery of innocence or guilt.
Truth is inconvenient for ideologues.
Today many whose goal once was the discovery of truth are now paid handsomely to hide it. “Free market economists” are paid to sell offshoring to the American people. High-productivity, high value-added American jobs are denigrated as dirty, old industrial jobs. Relicts from long ago, we are best shed of them. Their place has been taken by “the New Economy,” a mythical economy that allegedly consists of high-tech white collar jobs in which Americans innovate and finance activities that occur offshore. All Americans need in order to participate in this “new economy” are finance degrees from Ivy League universities, and then they will work on Wall Street at million dollar jobs.
Economists who were once respectable took money to contribute to this myth of “the New Economy.”
Passage of the so-called “health care reform” bill in the House of Representatives this past Sunday, March 21 (I won’t even address the inferred unconstitutionality of Congress doing business on the Lord’s Day. See Article. I. Section. 7. Paragraph. 2.) drove yet another stake into the heart of America. For all intents and purposes, it is the health of the United States that is in dire need of healing. In fact, the US has been on extended life-support for decades. With its condition being rendered critical, and absent major surgery, its days are numbered. The passage of this bill only serves to further weaken an already frail Constitution.
In fact, this one may prove to be the fatal blow. Lady Liberty may never recover.
The decision by Congress to socialize medicine in the US ranks among the most draconian, most egregious, most horrific actions ever taken by the central government in Washington, D.C. This bill rocks the principles of liberty and constitutional government to the core. It changes fundamental foundations; it repudiates historical principle. Oh! The same flag may fly on our flagpoles, the same monuments may grace our landscape, and the same National Anthem may be sung during our public ceremonies, but it is not the same America. The Congress of the United States has now officially turned America into a socialist state.
On March 23, 2010, President Barack Obama signed the health care bill into law, and as such, this date–along with March 21–joins a list of dates that have each inflicted unconstitutional, socialistic, and sometimes even tyrannical action against the States United and have, therefore, contributed to the destruction of a free America.
In the Swiss newspaper Zeit-Fragen, Professor Dr. Eberhard Hamer from Germany asks, “How Sovereign is Europe?”
He examines the issue and concludes that Europe has little, if any, sovereignty. Professor Hamer writes that the sovereign rights of Europeans as citizens of nation states were dissolved with the coming into force of the Lisbon Treaty on Dec. 1, 2009. The rights of the people have been conveyed to a political commissariat in Brussels. The French, Germans, Belgians, Spanish, British, Irish, Italians, Greeks, and so forth, now have “European citizenship whatever this may be.”
The result of aggregating nations is to reduce the political participation of people. The authority of parliaments and local councils has been impaired. Power is now concentrated in new hierarchical structures within the European Union. European citizenship means indirect and weak participation by people. Self-rule has given way to authoritarian rule from top to bottom.
The federal government takeover of the health care industry and your loss of medical freedom only lacks a Presidential signature to become a federal law. We the people know that this cannot stand if America is to remain a free country. Keep your head up, it is time to invoke the 10th and kill this bill and the others soon to follow once and for all.
“Medicine is the keystone of the arch of socialism” and “The goal of socialism is communism.”
Thomas Jefferson said:
“Whensoever the General Government assumes undelegated powers, its acts are unauthoritative, void, and of no force”
Ignore Washington D.C.
They are ignoring you, return the favor. In his speech on Saturday, Obama referred to you as “astroturf”. In political terminology that insinuates that you were paid for your phone calls and someone picked up your travel expenses and bought your dinner for your troubles. That’s one way they ignore you. Another way they ignore you is to use an unscrupulous process to pass an unconstitutional health care bill that changes the foundation of your country overnight.
by Chris Hedges Truthdig
March 22, 2010
Rep. Dennis Kucinich’s decision to vote “yes” in Sunday’s House action on the health care bill, although he had sworn to oppose the legislation unless there was a public option, is a perfect example of why I would never be a politician. I respect Kucinich. As politicians go, he is about as good as they get, but he is still a politician. He has to run for office. He has to raise money. He has to placate the Democratic machine or risk retaliation and defeat. And so he signed on to a bill that will do nothing to ameliorate the suffering of many Americans, force tens of millions of people to fork over a lot of money for a defective product and, in the end, add to the ranks of our uninsured.
The claims made by the proponents of the bill are the usual deceptive corporate advertising. The bill will not expand coverage to 30 million uninsured, especially since government subsidies will not take effect until 2014. Families who cannot pay the high premiums, deductibles and co-payments, estimated to be between 15 and 18 percent of most family incomes, will have to default, increasing the number of uninsured. Insurance companies can unilaterally raise prices without ceilings or caps and monopolize local markets to shut out competitors. The $1.055 trillion spent over the next decade will add new layers of bureaucratic red tape to what is an unmanageable and ultimately unsustainable system.
The mendacity of the Democratic leadership in the face of this reality is staggering. Howard Dean, who is a doctor, said recently: “This is a vote about one thing: Are you for the insurance companies or are you for the American people?” Here is a man who once championed the public option and now has sold his soul. What is the point in supporting him or any of the other Democrats? How much more craven can they get?
“If you think health care is expensive now–just wait until it’s free.”
P. J. O’Rourke
Universal health care will not be free – it will devastate the economy, warns Ron Paul
Paul Joseph Watson Prison Planet.com
Monday, November 9, 2009 (always ahead of his time)
If the Obama administration keeps its promise in guaranteeing not to raise taxes to pay for universal health care, the only way to cover the costs will be for the Federal Reserve to print even more money out of thin air, a process that will kill the dollar and lead to lower living standards for all Americans, warns Congressman Ron Paul.
In his weekly Texas Straight Talk telephone update, Dr. Paul said that Saturday night’s passage of the health care bill in Congress will lead to a further devastation of the American economy and the greenback.
What we need to stand up and say is not only did they attack the U.S.S. Liberty, they did 9/11. They did it. I have had long conversations over the past two weeks with contacts at the Army War College, at it’s headquarters, Marine Corps and I made it absolutely clear in both cases that it is 100 percent certain that 9/11 was a Mossad operation.
~Dr. Alan Sabrosky, March 14, 2010
- listen to podcast
Israeli prime minister Binyamin Netanyahu once remarked to a Likud gathering that “Israel is not like other countries.” Oddly enough for him, that time he was telling the truth, and nowhere is that more evident than with Jewish nationalism, whether or not one pins the “Zionist” label on it.
Nationalism in most countries and cultures can have both positive and negative aspects, unifying a people and sometimes leading them against their neighbors. Extremism can emerge, and often has, at least in part in almost every nationalist/independence movement I can recall (e.g., the French nationalist movement had The Terror, Kenya’s had the Mau Mau, etc.).
But whereas extremism in other nationalist movements is an aberration, extremism in Jewish nationalism is the norm, pitting Zionist Jews (secular or observant) against the goyim (everyone else), who are either possible predator or certain prey, if not both sequentially. This does not mean that all Jews or all Israelis feel and act this way, by any means. But it does mean that Israel today is what it cannot avoid being, and what it would be under any electable government (a point I’ll develop in another article).