Henry Paulson and Ben Bernanke should be indicted for treason. Remove them from the situation immediately as a first step toward protecting our country. No bailouts for criminals. Not one penny.
Pass legislation that will resolve the short-term crisis with long term stability:

1) Abolish the Federal Reserve System and establish publicly-owned banks.

2) Transfer all assets held by the "Federal" Reserve to a new agency, exclusively controlled by the US government and staffed by loyal US citizens that have no vested interests in the private sector.

3) Establish a government-owned lending institution with authority to issue credit to qualified borrowers.

4) Freeze all foreclosures and reschedule loans for victims of mortgage fraud at reasonable fixed interest rates for thirty years.

5) Return stolen homes or compensate victims of foreclosure fraud with reparations paid by the perpetrators ~ not the taxpayers. If necessary, freeze the assets of perpetrators.

6) Amend the bankruptcy laws to allow courts to provide relief to victims of usury and fraud.

7) Repeal the Commodities Futures Modernization Act. Reinstate the Glass-Steagall Act and every other regulation that protected public assets from Wall Street speculators.
Impose strict regulations on
the financial industry.

8) Investigate systemic financial fraud and indict criminals.

9) Allow institutions to fail that willingly participated in Ponzi schemes. No taxpayer bailouts.

10) Replace the "fractional" reserve banking system with a genuine reserve system.

11) Break up monopolies and separate financial sectors.

The Federal Reserve System is not federal and has no reserves. It is a privately-owned bank consortium that deliberately engineers bubbles and depressions by arbitrarily expanding and contracting its credit. It has devastated the public's purchasing power by steadily inflating its worthless fiat "notes." The cycles of economic chaos and despair will continue until this private debt monopoly is banished.


Congressman Ron Paul (R-TX) has introduced HR 2755 to repeal the Federal Reserve Act and to abolish the Board of Governors of the Federal Reserve System and the Federal Reserve banks. This is the most important legislation of our lifetime. With the whole nation braced for catastrophe, this is the moment to reform of our monetary system. As one unified field of consciousness we can change our destiny by bringing this bill to the floor right now and passing this historic legislation.


ACT NOW to reclaim our financial sovereignty and create a genuine legacy of freedom for future generations ~ a new monetary system wholly owned by the People of the United States.

this is how we fix the economy, not by dumping more debt laden money on the system. that just stimulates the big bankers. wake up people we are being robbed blind! sound money over fiat money!

If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered."(the federal reserve)

I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.
Thomas Jefferson

I hope we shall crush in its birth the aristocracy of our monied corporations which dare already to challenge our government to a trial by strength, and bid defiance to the laws of our country.
Thomas Jefferson

The Switch From
Wealth to Debt

..





ince 1792, our money has been "switched' from wealth to debt. By changing our money back to wealth, we can reverse the tide of ever increasing prices, taxes, debt , bankruptcies and economic ills that are destroying America and her people. How money is put into circulation is the most important principle. The real issue is not gold and silver vs. paper, not commodity money vs. fiat money, but wealth vs. debt, honesty vs. fraud. Let's follow the trail of United States money, from when it was gold and silver commodity money, put into circulation as a wealth to the people, by the people, to what it has become - a monetized debt, put into circulation by the banks, as interest bearing debts to the people, for the personal profit of bankowners.

The real reason gold and silver coinage initially worked well as money for the people, is that the people produced the gold and silver, a raw resource of the earth, through their labor. The 1792 Coinage Act allowed anyone to take that resource to the United States mint and have it monetized (coined) free of charge. We, the people, furnished our own money, based on our production, as a wealth to ourselves and spent it into circulation as a benefit to all of society with no debt attached to it.

Gold and silver are very heavy metals and not as convenient to carry as paper money. If we didn't want to carry the gold and silver coins around with us we could take them to the United States Treasury and store/deposit the coins. The Treasury would issue depositors gold and silver certificates as receipts. They stated on their face that there was X amount of gold or silver coin on deposit in the Treasury, payable to the bearer on demand. Now, we had paper money. As long as just this principle was followed you still had good, honest, wealth money with no debt, no excessive profit, nor excessive purchasing power to anyone.

The ten dollar gold certificate

However, when someone deposited their gold and silver coin in a fractional reserve bank, a totally different principle went into action. The bank held the coins as a reserve and expanded the money supply by making new loans equal to 10 times the face value of the coins deposited. At that point, money switched from wealth to debt.

Americans have lacked this understanding. Lack of understanding is why America is the world's greatest debtor nation with over $26 Trillion in public and private debt at the end of 1990.

On January 24, 1939, Robert H.
Hemphill, credit Manager of the Federal Reserve Bank of Atlanta stated:

..
"If all the bank loans were paid no one would have a bank deposit and there
would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money we are prosperous: if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture the tragic absurdity of our hopeless position is almost incredible, but there it is. It (the banking problem) is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon.
"

..
At first glance, fractional banking looks like a good deal for everyone. The banks get more profit. The people can get quicker and easier loans. More capital is available to engage in commerce. Production picks up. But, sooner or later, more and more people can not make their loan payments. An unseen by-product of fractional banking is: it makes some people rich, (about 250,000) and leaves many more people very poor (about 150 million).
All the while, fractional banking creates compounding, unpayable public and private debt, which causes the cost of living to constantly go up for all
Americans.

Throughout the nineteenth century, larger banks worked to get laws passed that would consolidate all fractional banking under the control of just a few. They did so under the guise of a standardized national money. They were successful in 1863 with the passage of the National Banking Act. It allowed newly chartered national banks to create a uniform national bank currency. A few years later the federal government taxed state bank notes out of existence. In 1873, the government stopped all free coinage of metals. They began to use United States Certificates of indebtedness -- United States Bonds -- as security for the national currency.

The note states on it's face "The Federal Reserve Bank of Minneapolis Minnesota will pay to the bearer on demand one dollar -- Federal Reserve Bank Note" However, it no longer said a dollar of what, like the gold and silver certificates. It also says "secured by United States Certificates of indebtedness" You can now clearly understand why our government and private sector are so deeply in debt. All we use for money is (monetized) DEBTS.

The switch from wealth based money to debt-based money had been completed. All that was left was to change the bills.

wake up people we are being robbed blind! say no to the wall street bailout! instead demand the arrest of the criminals involved

We have a long, rough road ahead of us before the world returns to sanity. Many of us will die or be killed before we reach that goal.

Hey mobman....so the 95 democrats and the 133 republicans that voted no for the bailout the other day are your new heros?

I don't see where you are praising them that much. I thought you were against all the big 'crats. Now you are saying they need to vote against the bailout by saying no to it? I guess you needed them afterall.