Topic: Federal Reserve Bailout
Bail Out or Grand Theft Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke tell us the sky is falling and they are the only ones who are smart enough to stop it. Are they really pulling money out of a hat or stealing it?by Andy Mitchell
(libertarian)
Tuesday, September 23, 2008
Last week I learned that the end of the world was coming. The only way to forestall this was to ante up my fair share of 1 trillion dollars. Now this doesn't sound good. I'm thinking maybe I should chip in and do my part, right? But being a man with a modicum of intelligence I have to ask is there another way? Hank and Ben say there isn't. I'm not convinced yet. Ben and Hank are not even trying to present their case to me. No, they are making their case to Washington.
There lies my dilemma. I have been out of school for many years now, and my history may be a little rusty, but it has always my misunderstanding that the one of the proponents of our constitution was that this is a government of the people, by the people and for the people. So I'm left thinking maybe there is something wrong with this picture. Let me take a look from another angleLet us say I am Joe Average. I borrowed money from the bank 2 years ago. Six months ago I lost my job and am danger of losing my house. What am I to do? Well, I don my ninja suit, sneak into Fifth Thirds vault, take only the money I need and leave an IOU in its place. I set my alarm clock for 8:00A.M. the next day. Do you think I'll wake to the rude bleep of my alarm clock or a friendly nudge on the side of my head from the boys in blue wishing to escort me to my new home? "Stealing?" "Stealing?" I ask. Taking money without asking is stealing they remind me.So what have I learned from this? Stealing is wrong if I do it.
Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke are not elected officials. They are not of the people. They do not represent me, they represent the business establishment. It seems from a layman's eyes that what self professed super heroes are doing is asking the permission of our Washington representatives to take my money without asking me.I feel as though I have learned something from this little exercise, but still have one unanswered question. If this bail out happens will Henry Paulson and Ben Bernanke's alarm clock wake them in the morning?
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The views expressed in this
article are those of Andy Mitchell only and do not represent
the views of Nolan Chart, LLC or its affiliates. Andy Mitchell is
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