A CRUEL ANALOGY

09/23/2008

A CRUEL ANALOGY

Remember 9/11, how the towers came down, they it was the pancake effect, one floor falling on top of the other and the lower floor unable to bear the weight gave in also and so on, the whole thing crashed.

It all goes back to the question I asked Senator Richard Shelby, that “when the US government borrows money to function, in whose pockets that money ends up at“? of course the question is rhetorical since I at least already know the answer. It is still a good question, it made it on the evening news of my local station.

For Senator Shelby, and all others who may care, today I will give you the answer, but first, the United States government does not borrow the money form her self, NO!. The treasury issues debt obligations that are bought by other banks and financial institutions and foreign countries and institutions, then these are sold to the federal reserve, then federal reserve issues money against the debt, in other words, we owe the money to the federal reserve which is a private bank, in some instances the debt obligations may be held by the foreigners themselves.!!!!

The United States, or any other government is there to collect taxes for its operations, even at the threat and or use of force it must collect enough revenues to pay for the day to day operations and even may have reserves for unforeseen incidences. Since Reagan days, and “the deficits don’t matter” we have borrowed and borrowed and borrowed some more for a lifestyle that was not sustainable. All the while this “money”, “ the future tax revenues from the US population” have been used to support the global economic boom, hoarding of “wealth” by individuals and “bankers” who have devised more and more ingenious scams “financial instruments” to steal money from the government and each other.

Today as the pyramid scheme is collapsing, under the burden of its own crap load, the congress, the senate and the president are running out to shore up the system that is already doomed. A seven hundred billion dollar planned bailout will only the bring back the sharks out of hiding, again. Obviously there is a bottom to the housing market collapse, and there is “liquidity” since there is six trillion dollars (remember the United States deficit?) sitting on the sidelines.

As I have said before, no one creates a job to provide a living for another, jobs that are needed Will be created, houses that are needed will be built, houses that will be built Will be of reasonable size and price, to live in not to be used as a ATM card. Cars will be built for transportation and not as symbols of sexual expression. And we will have to stop eating our babies!

But then again, a people hooked on the “reality shows” may find it too much to “get real”.