“Democracy is dying if not already dead. We live in a delusion, a nightmare from which there seems to be no escape. …For as much as we may believe we have a Democracy and that the State is somehow controlled by the people, there is nothing that is further from the truth than this fiction of our imagination.”
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And Trichet, and the rest of the Central Bank fools.
But especially you, Bernanke.
There’s dumb and then there’s really dumb. Let’s take a short walk back down history lane.
You were sure there was no housing bubble.
Then you were sure it wouldn’t pop.
Then you were sure when the subprime problem hit, that it wouldn’t cause a recession.
Then you were sure you had it under control with Bear Stearns’ hedge funds.
Then you were sure you had it under control with Bear Stearns itself.
Then you were sure it was under control with Lehman, even though you had to know Citibank and others were refusing their collateral in the repo market.
You were sure QE would support higher bond prices – and lower yields. The exact opposite thing happened.
You were sure QE2 would suppress long end yields. The exact opposite thing happened.
Oh yeah, you made excuses both times, but in fact you publicly said that in both cases the exact opposite thing would happen that did.
Now let’s look at what happened just today.
Oil went up almost $7 today for the WTI contract. For each dollar that crude oil rises, we transfer roughly $95 billion (estimates vary from $90-100) outside of the United States.
That’s a direct hit to GDP.
In ONE DAY the entire impact of your so-called “QE2″ was ERASED.
Establishing a joint subcommittee to study whether the Commonwealth should adopt a currency to serve as an alternative to the currency distributed by the Federal Reserve System in the event of a major breakdown of the Federal Reserve System. Report.
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Patron– Marshall, R.G.
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Referred to Committee on Rules
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WHEREAS, the Supreme Court of the United States has ruled in In re Rahrer, 140 U.S. 545, 554 (1891), that “the police power” of a State “is a power originally and always belonging to the States, not surrendered by them to the general government, nor directly restrained by the Constitution of the United States, and essentially exclusive”; and
WHEREAS, the Supreme Court of the United States has ruled in Beer Company v. Massachusetts, 97 U.S. 25, 33 (1877), that the police power of the States “extend[s] to the protection of the lives, health, and property of the[ir] citizens, and to the preservation of good order”; and
WHEREAS, the protection of the lives, health, and property of Virginia’s citizens, and the preservation of good order in the Commonwealth, depend upon the maintenance of both an adequate system of governmental finance and a sound and robust private economy; and
The political class and Standard-Issue Punditry (SIP) don’t “get it”: Americans have completely lost faith in their Financial Elites and government, for abundantly obvious reasons.
Anyone who believes the foreclosure crisis can be contained is deluded, because the real issue in play is the citizens’ trust in their government’s ability to govern the nation’s Financial Elites according to the rule of law. Clearly, our government has failed its citizens–utterly, completely, totally, at every level of governance (Federal, State, local) and at every level of oversight and regulation.
The bitter truth is that the nation’s Financial Power Elites are not constrained by rule of law, and as a result of this revelation Americans’ trust in their government and political class has been shattered. Despite raising their voices 600 to 1 against the TARPand related bailouts of the nation’s Financial Power Elites (who stripmined the nation’s wealth from their investment banking and mortgage banking fortresses) in 2008, the government shoved trillions of dollars of bailouts and guarantees into private hands with pathetically little control in return.In their rage at this abject, cowardly surrender of their government to the Financial Elites, the American people tossed the craven bankers-lapdogs Republicans out and replaced them with an untested young president who talked the talk and old-line Democrats.
All of whom proceeded to attach the same leash to their necks and become craven lapdogs of the Financial Elites. Less than two years after the inevitable meltdown of the Power Elites’ stripmining operation and its unprecedented rescue by the Federal government, the Financial Power Elites are once again caught flouting the laws of land as if the U.S. were a “banana republic” in which laws are “only for the little people.”
And now the inevitable calls are arising for a “Federal solution” which will bail the bankers out of the foreclosure crisis with their ownership of the political class and the nation’s wealth firmly in hand.
The people have lost their trust in their government for good reason: it has betrayed their trust.
The progression of human society relies upon the steady distribution of information. The quality of that information, its accuracy and its honesty, determines the overall health of the cultures we create. When a source of information becomes compromised by unhealthy political ambition, social dogma, or the strangling hands of elitism, it’s like a poison well, spreading plague and pestilence throughout the nation, or even the world. Widely disseminated lies inspire delirium and madness in the masses faster than typhoid fever.
In America today, the person searching for a pure source of truth in the media inevitably stumbles across many poison wells.
Even if they are not yet actively pursuing alternative outlets of information, many people are aware, at least intuitively, when someone is trying to swindle them. You can present us with the assurance of delectable sirloin steaks on ornate silver platters, but if our faces are struck with the sickly stench of decay, we aren’t going to bite. Through its dishonesty and its distinct lack of substance, the mainstream media has turned up more noses than any putrid slab of unkempt beef ever could. The raw data is merciless in regards to the implosion of the MSM…
Thomas Jefferson and Andrew Jackson understood “The Monster”. But to most Americans today, Federal Reserve is just a name on the dollar bill. They have no idea of what the central bank does to the economy, or to their own economic lives; of how and why it was founded and operates; or of the sound money and banking that could end the statism, inflation, and business cycles that the Fed generates.
It is out there, this word we all seek. We do not know its language, nor its etymology, but we know it exists. It can be found. We have records from ancient times whispering itsexistence in hidden codes, but no representation of the word itself, as must be the case, once one understands the nature of the word and its use.
That the word is a word is so deliciously pleasing a tasty treat for radical linguists that poets could not express the elegance of universe so beautifully displayed.
There was a time, not too long ago (relatively speaking), that governments and the groups of elites that controlled them did not find it necessary to conscript themselves into wars of disinformation. Propaganda was relatively straightforward. The lies were much simpler. The control of information flow was easily directed. In fact, during the early Middle-Ages in most European countries commoners were not even allowed to own a Bible, nor was the Bible allowed to be interpreted from Latin to another language, let alone any other tome that might breed “dangerous ideas”. This was due in large part to the established feudal system and its hierarchy of royals and clergy. Rules were enforced with the threat of property confiscation and execution for anyone who strayed from the rigid socio-political structure. Those who had theological, metaphysical, or scientific information outside of the conventional and scripted collective world view were tortured and slaughtered. The elites kept the information to themselves, and removed its remnants from mainstream recognition, sometimes for centuries before it was rediscovered.
By clif high
There was a time, not too long ago (relatively speaking), that governments and the groups of elites that controlled them did not find it necessary to conscript themselves into wars of disinformation. Propaganda was relatively straightforward. The lies were much simpler. The control of information flow was easily directed. In fact, during the early Middle-Ages in most European countries commoners were not even allowed to own a Bible, nor was the Bible allowed to be interpreted from Latin to another language, let alone any other tome that might breed “dangerous ideas”. This was due in large part to the established feudal system and its hierarchy of royals and clergy. Rules were enforced with the threat of property confiscation and execution for anyone who strayed from the rigid socio-political structure. Those who had theological, metaphysical, or scientific information outside of the conventional and scripted collective world view were tortured and slaughtered. The elites kept the information to themselves, and removed its remnants from mainstream recognition, sometimes for centuries before it was rediscovered.