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Wednesday, September 24, 2008

Ron Paul on the Bailout Plan

Once again, Ron Paul says it best. Hopefully, this time, people will listen.

Letter from Ron: Time is running out

Dear Friends,

Whenever a Great Bipartisan Consensus is announced, and a compliant media assures everyone that the wondrous actions of our wise leaders are being taken for our own good, you can know with absolute certainty that disaster is about to strike.

The events of the past week are no exception.

The bailout package that is about to be rammed down Congress’ throat is not just economically foolish. It is downright sinister. It makes a mockery of our Constitution, which our leaders should never again bother pretending is still in effect. It promises the American people a never-ending nightmare of ever-greater debt liabilities they will have to shoulder. Two weeks ago, financial analyst Jim Rogers said the bailout of Fannie Mae and Freddie Mac made America more communist than China! “This is welfare for the rich,” he said. “This is socialism for the rich. It’s bailing out the financiers, the banks, the Wall Streeters.”

That describes the current bailout package to a T. And we’re being told it’s unavoidable.
The claim that the market caused all this is so staggeringly foolish that only politicians and the media could pretend to believe it. But that has become the conventional wisdom, with the desired result that those responsible for the credit bubble and its predictable consequences - predictable, that is, to those who understand sound, Austrian economics - are being let off the hook. The Federal Reserve System is actually positioning itself as the savior, rather than the culprit, in this mess!

• The Treasury Secretary is authorized to purchase up to $700 billion in mortgage-related assets at any one time. That means $700 billion is only the very beginning of what will hit us.

• Financial institutions are “designated as financial agents of the Government.” This is the New Deal to end all New Deals.

• Then there’s this: “Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.“ Translation: the Secretary can buy up whatever junk debt he wants to, burden the American people with it, and be subject to no one in the process.

There goes your country.

Even some so-called free-market economists are calling all this “sadly necessary.” Sad, yes. Necessary? Don’t make me laugh.

Our one-party system is complicit in yet another crime against the American people. The two major party candidates for president themselves initially indicated their strong support for bailouts of this kind - another example of the big choice we’re supposedly presented with this November: yes or yes. Now, with a backlash brewing, they’re not quite sure what their views are. A sad display, really.

Although the present bailout package is almost certainly not the end of the political atrocities we’ll witness in connection with the crisis, time is short. Congress may vote as soon as tomorrow. With a Rasmussen poll finding support for the bailout at an anemic seven percent, some members of Congress are afraid to vote for it. Call them! Let them hear from you! Tell them you will never vote for anyone who supports this atrocity.

The issue boils down to this: do we care about freedom? Do we care about responsibility and accountability? Do we care that our government and media have been bought and paid for? Do we care that average Americans are about to be looted in order to subsidize the fattest of cats on Wall Street and in government? Do we care?

When the chips are down, will we stand up and fight, even if it means standing up against every stripe of fashionable opinion in politics and the media?

Times like these have a way of telling us what kind of a people we are, and what kind of country we shall be.

In liberty,
Ron Paul

5 comments:

  1. Upon the confines on our current situation... Within the shackles of our current bondage... Admist the darkness of our current despair... One must wonder what's most important to one's self. The instituion we call our government has offered us fear and hoplesness. I share a disappointment with those around me in the massive turmoil of the media and words of our "leaders". I have to ask myself,has all my hard work ethic and extensive education offered me nothing but debt and sub-par employment. It then becomes easy to blame those who have become the so-called leaders of the world. I must realize, however, that not only does a government reflect it's people but it's people reflect a government. We are not free of the blame in this "cureent crisis", as our President so elegantly put it. Do I agree with the decisions that have been made? NO. Do I support the choices that are made without my suggestions. No. But I must turn to my values & rely on those to lift me up. Through doing so, I may have the opportunity to lift those around me up. I pray that the words of Ron Paul will have an impact. I pray that the words of Travis Jackson will have an impact. I pray that our leaders will realize the extent at which we have fallen. But with that said, while Rome fell, few Romans stood tall because they found the resolve to rise above those they paid taxes to.
    -Beaker

    ReplyDelete
  2. Way to go Trav on getting your first comment from a 'non-friend'. But even though I highly agree with Dr. Paul, and Beaker, for that matter on the state of the economy, it's still upsetting to me that a man like Ron Paul could have a view on the war on terror so wrong. If only he could attack terrorism like Bush.

    If Paul had equated economics and terrorism in one argument he might have well won the candidacy.

    In my argument Ron Paul argues for isolationism too soon, and for that matter, at all. The pre-emptive strike is necessary when the President sees the enemy as a threat to his own. If Ron Paul continues to fight for isolationism as a primary goal he will never be taken seriously regardless of the genius of his economics. Too bad really.

    Could we clone Fred Thompson and Ron Paul together? I pray, as Beaker would put it, that it happens.

    Good post and I hope you get a million visitors to your site.

    ReplyDelete
  3. Who the heck is Travis Jackson? Andrew's brother? Or maybe Stonewall's...You will always be the "Turtle" to me, but good post anyway. You have my interest peaked. I am interested to hear more.

    ReplyDelete
  4. Does that make Ron Paul the "Johnny Drama"?

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  5. Beaker,
    I appreciate your comments. Welcome to the site!

    Matthew,
    I hate you like I hate Stalin. You still don't understand the difference between non-intervention and isolationism and I fear you never will. However I forgive your ignorance and promise to buy you an ice cream cone when you come up to hunt elk with me.

    Neals,
    Welcome aboard buddy! I'll buy you an ice cream too if you ever come to visit!

    Make sure you all check out Matthew Phillips site - you can get to it from the link on my blog or go to http://www.conservativethinker.net/

    thanks for the comments, keep 'em coming!

    ReplyDelete

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