Taxpayers on the Hook - Again

It simply doesn’t seem possible, and yet here it is, right in front of us: Our own Federal Reserve under the direction of Ben Bernanke is pushing for a policy that will leave American tax-payers on the hook for tens of trillions of dollars in liabilities.  European derivatives for Bank of America in its Merrill investment banking unit  are being shifted to the depository arm and this is insured under FDIC, your Federal Deposit Insurance Corporation.  That’s right, this is going to be a gigantic crisis when Europe finally implodes, and with Greece now needing a 60% write-down on its bonds, you must know that calamity is right around the corner.   What’s worse is that it is now revealed that this will be hidden from you in part due to Dodd-Frank, the “financial reform” law that Congress passed in 2010.

Ladies and gentlemen, our country is being systematically destroyed.  These obligations are the financial form of a dirty bomb planted in the US Treasury, and it will destroy us.  This is insanity.  It also turns out JP Morgan is doing much the same thing.  We’re talking about trillions of dollars in redistribution of tax-payer wealth to private global banking interests.  This is setting the stage for the mother of all bail-outs.  I can’t believe that this is being done, or that anybody thinks this is a prudent plan.  It’s as though the American tax-payer is being robbed at gunpoint without knowing it.

This is the one thing about which Ron Paul is consistently correct:  The power of the Federal Reserve system must be curtailed if not eliminated entirely.  We simply can’t afford any more of this.  It has the potential for destroying us.  Our political leaders must stand against this, but in too many cases, they’re part of the problem because they’ve enabled much of this.

We need a return to a sound monetary system, and those who think it should be tied to the other currencies of the globe are out of their minds.  Of course, they want that for the same reason this is being done:  To offer themselves protection. Ladies and gentlemen, we’re looking at a possible, or even probably catastrophe here, and other than just a rare few media outlets, nobody is telling you about it. You should begin to wonder why they’re not.

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