Did The Bank Bail-Out Help Anyone Get A Loan Or Is the Fed Simply continuing Its Illegal Control Over American Lives?
By Lisa Richards
October 5, 2009
The Federal Reserve has been a thorn in the side of Americans for nearly 100 years. It’s definitely time for this unelected pseudo-branch of government to go. The Fed regulates our money and economy in ways unconstitutional to the founding laws of the United States. A central regulatory system of banking and money control was never the idea, plan of the founders who knew such a plot would be economically disastrous.
In 2008, Federal Reserve Chairman Ben Bernanke gave banks $125 billion in bailouts claiming it would prevent a banking collapse. The wealthy cannot get loans, so who is receiving bank loans for homes and business? Surely not low-income ACORN darlings.
How weak were banks that they needed $125 billion, yet, the wealthy, who can repay loans, cannot acquire loans. Banks are not lending, so what was the panic about if not a way for the Fed to gain more control over American money and lives via banks they have strong-armed since the early twentieth century?
The TARP (Troubled Asset Relief Program) was allegedly going to prevent another 1929, instead it created more Teddy Roosevelt-style progressive control over our lives. The banks were not collapsing, they were stable, but TARP and the Fed have placed banks, and the people, in a position of further crawling and begging to the regulators of American money: the people’s money, not the government.
According to Bernanke and Paulson, the $125 billion dollar loan would enable banks to lend. If that is true, why is it so difficult to get a loan? Because banks are further under Fed control, now more in dominating American’s money through banks.
President Andrew Jackson went after the banking system for the very reasons Americans are crawling today: Jackson did not want a central banking system oppressing the American people, our money, and economy. Jackson took Biddles, and the national bank, down and in the end paid off the national debt. He was the only American president to ever do so. A move modern presidents and legislators may want to follow if they care one iota about preserving the United States and capitalism.
That last sentence was purely to entertain myself with a good laugh.
Today’s October 5, 2009 Washington Times reports in a piece titled “Study: Bernanke, Paulson Misled Public Bailouts” that “…an audit released Monday by TARP Special Inspector General Neil Barofsky says senior government officials and Wall Street regulators, including Mr. Bernanke and Mr. Paulson, had ‘affirmative concerns’ that several of the nine institutions were financially shaky. By stating expressly that the ‘healthy’ institutions would be able to increase overall lending, Treasury may have created unrealistic expectations about the institutions’ condition and their ability to increase lending.”
This is according to the audit report. The Times further states: “Treasury and the TARP program lost credibility when lending at those institutions did not in fact increase and when subsequent events—the further assistance needed by Citigroup and Bank of America being the most significant examples—demonstrated that at least some of those institutions were not in fact healthy.”
The Federal Reserve, like abortion, was never voted upon by the people or legislators. And like abortion, the Fed has been a killer. In the case of the Fed, it has been slowly killing capitalism and must be taken down before it has any chance of fully implementing Marxism to its fullest extreme.
If banks cannot lend (because they are forbidden imparting loans), money cannot be spent, therefore capital remains where the Fed and Washington want it: in the banks under management of a dominant hegemony manipulating funds for influence and power.
If businesses cannot borrow, they cannot hire and job losses skyrocket, further empowering Democrats and liberals who need such power to take down America once and for all. The Fed is their ultimate weapon. Without money Americans cannot invest, hire, work, pay bills, move out of lower income ratios providing votes for liberals and Dems, and the country recedes backward toward an era of depression.
The Great Depression helped elect FDR. Without it, he would never have been president. He was too liberal, too anti-Semite, too big government for the American people. But a bank collapse helped FDR create a depression he needed to implement welfare and regulations even the ultimate regulator Teddy Roosevelt couldn’t dream of.
The fear of another collapse enabled helped elect a Marxist liberal: Barry Obama.
The Fed promised that banks receiving $125 billion were “healthy” and sustainable. Then why lend taxpayer’s dollars that further increase national debt? Why place America behind China; America is borrowing the money from China. Because it’s the only way for Obama and Democrat’s to implement Marxist plans begun by Teddy Roosevelt.
Timothy Geithner was head of the Federal Reserve Bank of New York when the TARP was created; further pulling into question Obama’s and Democrat’s Marxist strategies. Or do we even need question something so openly and purposely destructive toward America and capitalism?
It is wiser to fight against control than worry over what it will do and regret not combating to prevent the end of the Republic.
Low-incomers, incapable of repaying mortgages, were given home loans. Interest rates were dropped to an all-time low—too low—in order that Democrats beloved poor would receive loans. It was not a few people who contributed to the housing and banking collapse, it was thousands not financially capable of paying monthly mortgages.
Many recipients of loans were illegal aliens. Still, because it is considered racist not to give poor blacks and Hispanics home loans, low-incomers were granted what other Americans work hard and save years for: homes and loans. It did not matter that taxpayers would foot the bill so long as Marxism prevailed.
That phrase cannot be overused. Marxism is the cause of government control and financial failure in this country since 1913 and it must stop before it succeeds in stopping America.
The Fed is no more legal than the IRS. Both were snuck in under the noses of the people. Both have used the power of the Constitution to enact crippling and unfair laws that have nothing to do with Capitalism or America. The Fed is the central control of every dime Americans earn and own and technically it does not have the right or authority. It usurped that power illegally and the people have willingly gone along with the lie for 96 years.
Illegal power has been fought against and taken down in the past. It can be once again. Obama needs as many crises’ as he can create in order to remain president. Without crisis Obama is nothing more than an inexperienced community organizer.
Lisa Richards Copyright © October 5, 2009 All Rights Reserved