Topic: Federal Reserve Bailout
Transfer of Wealth The largest transfer of wealth in history is not abroad but here in the United States of America!by * illumin8d1
(libertarian)
Thursday, September 25, 2008
For the last few months, we have seen commercials from T. Boone Pickens, and campaign ads from both Obama and McCain warning us about "the largest transfer of wealth in history.." in reference to our addiction to foreign oil.
The truth is: For the last 7 1/2 years we HAVE seen the largest transfer of wealth in history but this transfer of wealth is to the already wealthiest people in the US .
The average taxpayer has suffered the loss of; jobs, inflation adjustments on income, home equity, life's savings, retirement savings, and quality of retirement (if able to retire at all). Yet that wise old banker Bernanke said the Treasury plan should have taxpayers (that means YOU!) buy the assets and hold them at close to their maturity value. In other words, he wants YOU to buy these nearly worthless assets that no one else in their right mind would buy.
Furthermore he went on to say "Removing the assets, would bring liquidity back to markets, unfreeze credit markets, reduce uncertainty and allow banks to attract private capital. We cannot impose punitive measures on institutions that choose to sell assets. The beneficiaries would be not just the companies selling, but markets and the overall economy."
What he is telling you, Mr./Mrs./Ms. Average American Citizen is that it is YOU who should pay for the gross malfeasance of the current White House administration and those crooks on Wall Street.
Why should I have to pay for their incompetence you ask? The answer my fellow Americans is easy if you have been paying attention for the last eight-tenths of a decade. It's because our bankers are too big a fish to fry! Yes, that's right! So. it is YOU that must fry in their place.
This whole financial mess did not need to take place. It was not pre-ordained. It happened because of greed on a monumental scale. All sanctioned by YOUR representatives in Washington .
As a voter, you have a choice of who you vote into office.
WAKE UP AMERICA !
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The views expressed in this
article are those of * illumin8d1 only and do not represent
the views of Nolan Chart, LLC or its affiliates. * illumin8d1 is
solely responsible for the contents of this article and is not an
employee or otherwise affiliated with Nolan Chart, LLC in his/her role as a columnist.
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