The Fed took control of AIG, in violation of the Constitution. And the stock market tanked. The Fed better reverse it's decision and give AIG back to the Free Market or else we are doomed. by Natalie Schultz
(libertarian)
Wednesday, September 17, 2008
Call in the Constitutional Attorneys: It's time for a Class Action Lawsuit against the United States Federal Government!
Today the Fed TOOK CONTROL of AIG, a private company, in direct violation of the Constitutional. And the Stock Market responded with a massive sell-off.
Gold soared $70 in one day - a record!
This is unprecedented! This is the Bolshevik Revolution Part II.
The fundamentals of the economy, of individual companies, of regulatory failure have NOTHING to do with this. It does not matter.
No one asked the government to take over AIG. The Fed never asked for permission. No, no, no ... Somehow, overnight, a Bridge Loan turned into a Government Takeover. WTF?!?
There is absolutely no analysis of the underlying problems needed at this point. Even if the Oracle of Delphi appeared and told the world what caused these problems, it all means NOTHING.
NOTHING will stop Wall Street from declining every single day from this point on - UNLESS the Fed releases AIG.
The first shot has been fired - by the Federal Government: Death to the Free Market!
Traders, investors and economists are not stupid. No one, not a single American, or a single foreigner will put a single penny into another stock until the Fed sets AIG free and a law is passed absolutely forbidding such a maneuver by any agency of the government from doing any such thing again.
I have never, ever, in my wildest nightmares, imagined such a disaster as this. WTF was the Fed thinking?!? I cannot grasp this AT ALL.
And the WORST thing about it? NO ONE is complaining!!! Not seriously, at least. Even Kudlow, thinks it's not good ... But. NO! NO BUTS ABOUT IT!!! NO! NO! NO!
How can these analysts not see that the reason the Market fell was not because AIG or Morgan Stanley or any other firm was in trouble, but because of the way the Fed "solved" the problem. The Fed takeover was like dropping a nuclear bomb on a city because of a flu outbreak.
The only people who have said anything are Hank Greenberg, former CEO of AIG who is pissed that no one bothered to answer the bloody phone at AIG - He wanted to buy back some of AIG's assets - but they didn't pick up the bloody phone! And then the bloody Fed took AIG over? What planet are we on?
The only other person to complain was Andrew Napolitano, a Constitutional Attorney, who flat-out declared this move a direct violation of the Constitution. Like his book says: We are a Nation of SHEEP!
I cannot believe that the only way we can save Wall Street is to sue the Federal Government.
Alas, it is the only way. The fate of the Free Market now rests in the hands of the Supreme Court.
As for the Presidential election: Obama and McCain need to SHUT UP! All Obama does is LIE, LIE, LIE - he did NOTHING, EVER to stop this crisis; his bloody advisors CAUSED this crisis. All they do is plagiarize Ron Paul and others and take credit for stuff they never did. And McCain? Suddenly he has joined the bailout bandwagon. JUST SHUT UP!!! SHUT UP!!! SHUT UP!!! ALL OF YOU!
The more Obama lies, the more his popularity rises and the stock market falls. The market rallied when McCain gained. But now, who cares? The Market cannot rally any longer - it has been taken prisoner.
Hannity's interview with Sarah Palin just aired, but I could not even pay attention. I have been so shaken up to the point of becoming ill over this disaster that I don't know if I should just curl up into a ball and die or if I should go blow something up. She did say bailing out AIG is bad - private companies who screw up should be allowed to fail. "Taxpayers cannot be looked to as the bailout for Wall Street." NO DUH!
Forgive me for not caring, but nothing matters anymore unless the Fed gives AIG back to the private sector. If it does not do so, this is THE END.
Bahhh! Bahhh! Bahhh! Stupid SHEEPLE!
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Enjoy the rape, my fellow Americans. You deserve it.
Nothing will be done about it. Americans are too stupid to know how. All that'll happen is that the masses will demand that things get worse. Americans love poverty. Will not be satisfied until we're a fourth world country. Even then, they really won't be satisfied. The people want slavery back, but this time for everyone. Black, white, asian, hispanic, we'll all be slaves together.
Aaah! You must be young. The party ended about eight years ago. It feels like we are now about to enter a capitulation phase, your article says as much. Should take about 3-5 years to resolve that part. By that time we should be divided up into regionally owned properties of any number of foreign enterprises.
Posted By: Victor Spoils
Date: 2008-09-18 06:18:27
First of all the Fed is NOT the government! The Federal Reserve consists of 12 regional banks, the stock of which is owned and the Boards controlled by the member banks, which are privately owned bank corporations. These institutions receive 6% profit on their funds paid into the Fed. These institutions receive 6% profit on their funds paid into the Fed for the issue of their fiat currency. Nice racket! Their ownership can be traced straight to the wealthiest families in the country if not the world. It makes perfect sense for them to further consolidate their wealth in this manner. State sanctioned corporate takeover. They stand to make billions. Wow, how slick. Create money from nothing, charge interest, build up the market, crash it, buy up everything at fire sale prices, repeat as necessary. Oh, and don't forget about stirring up wars, and financing both sides so you can't lose. War is the best! Finance arms sales, rack up trillions of wartime loans. Great business. Remember Smedley Butler! War is a racket!
"NOTHING will stop Wall Street from declining every single day from this point on - UNLESS the Fed releases AIG."
Natalie,
Empire's don't fall overnight. Market is up over 150 points as we speak.
Don't go and "curl up into a ball and die or if I should go blow something up." File the lawsuit yourself. Make a difference by taking action.
Posted By: Mr. AV Date: 2008-09-17 21:38:12
"Enjoy the rape, my fellow Americans. You deserve it."
Mr. AV,
You may say Americans deserve it from whatever country you live in, but doesn't your country have fiat money too? Enjoy the rape Mr. AV. You deserve it.
I said "fellow" Americans meaning I am one as well. I also speak to all those who have voted for this mess. You reap what you sow, you know? Finally, I speak in general. Not really to most here. You are a vast minority in this cesspool of society's acceptance of evil. I just tell the mainstream masses to shut up and enjoy the misery they chose to have. My hands are clean and I will wager to say, Doug, that your hands are as well.
That's alright. I wasn't clear enough. Then again, I sometimes prefer not to be clear enough, just to get those outraged or offended as a form of "ok, now here's what I mean by that".
That said, The market ended upward around 410 at close. Almost made up for the loss yesterday. Yes, the sky is falling, but the government is making sure the rate of falling is slow enough not to be noticed by simpletons. Natalie may be right about nothing stopping wall street from falling every day, but that doesn't mean that it would fall every day and as today showed, it won't.
"Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens." ... "Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose."
There is no way that the Fed or any instrument of the US Government is going to allow AIG to fall into public hands. It like BCCI before it has too many connections to the CIA.
I've said this more than once. The incredibly poor way that this country is being run is going to result in it's breakup, just like the old soviet union did, into between 5 to 8 new counties with the northwestern states being the most free. Probably sometime within the next 20 years. Think Washington, Oregon, Idaho, Montana, Wyoming if your a libertarian minded person.
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