FROM RON PAUL'S CAMPAIGN FOR LIBERTY

Thursday, September 26, 2008 Dear C4L Member, Yesterday, Ron Paul sent out a letter warning of the dangers of the Paulson and Bernanke bailout plan and asking you to contact your representatives and senators. A vote on this bill could literally come at any moment, and it is crucial that you immediately express your opinion to Congress. The picture painted by the supporters of the bailout is dire. President Bush reinforced this notion in his address to the nation last night and again urged Congress to act immediately. Remember what happened the last time the executive branch warned of horrible consequences and rushed legislation through Congress? We got the Patriot Act, which to this day threatens our civil liberties on an unprecedented scale. We do know that our economy is in for a rough ride. These bad mortgage-related assets will have to be cleared out and the market will have to reset. The only question is how that will happen. The easy way out is to continue the same practices that got us to this point. We can put $700 billion, for starters, in the hands of Treasury Secretary Henry Paulson (a former CEO of Goldman Sachs) and Federal Reserve Chairman Ben Bernanke, and let them spend the money on whatever they wish. This option will only delay the economic downturn, which will only be worsened. Or, we can take this opportunity to end the federal government's interference in the marketplace, truly embrace free market capitalism, and return to a sound monetary system. The Federal Reserve's practices of easy credit and monetary inflation have crashed our economy, and now they're asking us to trust them to fix it. When you call Congress to express your outrage at the bailout, tell them you want real solutions. It is time for Congress to: 1.) End the Bailouts - Congress must revoke the Federal Reserve's authority to bail out failed businesses at your expense. 2.) Cut Taxes and Curb Regulation - If we really want to stimulate businesses and revive the market, we need to cut corporate and capital gains taxes, spurring investors to come back to the market and making it easier to attract new workers and clients. It is also time to end failed legislation like Sarbanes-Oxley, which has crippled capital markets, diminished our competitiveness, and greatly harmed small businesses. 3.) Reduce Spending - We must freeze all non-entitlement spending by the federal government at current levels and eliminate wasteful spending both domestically and in our trillion-dollar overseas budget. Our debt has to come down, and it won't until we start living within our means. 4.) Reform the Monetary System - If we are to have long-term economic progress, we must end the system of printing money out of thin air. The current laws limiting the circulation of gold and silver-backed currency must be overturned. We can no longer base our money on the empty promises of bureaucrats that it is sound. The federal government is trying to scare us into accepting more tyranny. Don't stand for it. Check out our action alert, and let Congress know that you will no longer tolerate the Federal Reserve's stranglehold on our economy. Best Regards, John Tate President Campaign for Liberty

12:10PM PDST AFTERNOON COMMENT

Gold made a tremendous lurch upwards this morning only to be forced down by the elites' Central Bank allies. Gold cannot be allowed to go ballistic, or the Dollar would be instantly destroyed. Read Jim Sinclair and Dan Norcini's comments this afternoon. This BAILOUT situation is so explosive, that if an agreement is not reached by Sunday, ALL HELL COULD BREAK LOOSE! I'm afraid to have open futures contracts over the weekend that I can't do anything about if the situtation changes when I can't trade the contracts... Cash gold holders have nothing to worry about. Gold is getting harder to find retail. As I type, gold is moving up pas the first 75% retrace point after selling off after the close to a lower low than this morning at 887. It's now back up to 893 and could keep going the rest of today until 2:15pm pdst when Comex gold closes until Sunday at 3pm pdst. These are becoming very interesting times to live in. Can you imagine what it would have been like in the 1920s and 30's having the markets crashing and having to wait for the news in a newspaper instead of our INTERNET? People lived on farms back then and had to work hard in the fields only to come in for dinner and hear the news on the radio and that was also mostly bullshit like now, only not nearly as technically corrupt as our current propaganda. More tonight after I digest all this.

DID'JA CATCH BUSH'S LITTLE APPEARANCE?

The Son of a Bitch (literally) came out of his office about five feet, and babbled "hard work". Then he scurried back in before a sniper could sight him in. I think it is simply WONDERFUL that this is all occurring four months before George "Worst President in History" Bush can escape to Paraguay.

4:15AM PDST GOOD MORNING GOLD BUGS!

TODAY'S REPORTS: GDP Consumer sentiment The Economic Collapse of 2008-9 is in full progress. McCain (maybe our next Prezidunce)finally managed to bomb something. The BAILOUT NEGOTIATIONS. I say good for getting the bailout to fail and expose our "political masters" for what they are...self-serving thieves at the public trough. Washington Mutual goes down, and all the talking heads are transmitting the "company" line (read Guv'mint) that your deposits are safe..hahaha! I am only leaving just enough in my checking account to pay a few immediate bills online, as the mails waste time. And I'm ready to lose that little bit, or have it tied up I have managed to tie up all the banks I use with low interest loans and pay them off in inflated money (I did this in the 1970s stagflation too) and if they screw with me in any way, I will default on the loans. Let them get blood out of a stone. They deserve the same treatment they have given their "customers"! A fool and his money are soon parted. The dollar is tanking, the Euro has been down but is coming back up right now, oil is at 105, stocks should collapse today, bonds are down so long term interest rates are up (not helpful for the economy) and the Chinese Fire Drill in D.C. continues at a rapid pace. Should be an interesting trading day. Gold has been down over night, so it appears that gold has to be bombed as part of the "smoke and mirrors" manipulations by the Guv'mint to keep their necks out of a noose. Stay tuned for the details of this bloody slow motion train wreck.

COMPLIMENTS OF JSMINESET.COM

6:25PM PDST GT FEELS THE NEED TO COMMENT

Dear Readers, The events of the last week are merely the preface to what I, and many others, have attempted to predict for you over the last months and years. I am late to the publishing arena, but not to the prediction of the disaster that has finally materialized 35 years after I thought it would happen. My feelings this evening, after watching the various cable and main stream media events produced for our dining and entertainment pleasure by those with THE MONEY, and A HIDDEN AGENDA, make me think that this country, AND MOST OF THE WESTERN WORLD, deserves exactly what we are getting... RULE BY PSYCHOPATHIC KILLER, GREED MONSTERS! There simply is no other conclusion to arrive at given the severity of the CONSEQUENCES of what they have done to our economy and culture. What does it take to get people, who are being driven in to their early graves one heinous act at a time, to get off their obese, lazy, self-indulgent asses, to turn off the TV and form a NATIONAL MOB to go to the White House and yank this scum out of there and execute them on the front lawn of said White House? The posings of our so-called "representatives" in the news media, and the questioning of them by our so-called "journalists" is nothing short of the most colassal FARCE ever perpetrated on human beings since history has been recorded. You have all been duped by the scuzziest of the scuzzy amongst us because you all CHOSE to watch sports and gossip TV instead of fulfilling your CITIZEN'S DUTY to monitor your LOCAL GOVERNMENT, and ultimately, your NATIONAL GUV'MINT! YOU NOW HAVE WHAT YOU HAVE REAPED. It will be one long time before you ever get to enjoy living in this country. The struggle is about to begin in earnest as the Guv'mint will pass this BAILOUT FOR THE BIGGIES...AT OUR EXPENSE! Once it's passed...it will NEVER be rescinded...the price of DICTATORSHIP. Welcome to HITLER'S HELL RE DUX. The only thing you can do now, is to use those CAPITOL SWITCHBOARD NUMBERS listed below and call your THREE 'REPRESENTATIVES' (two Senators and one Representative) and voice your DISGUST with what they have done, are doing, and will continue to do, for THEIR OWN BENEFIT....TO YOUR PERSONAL DETRIMENT! Speak up before you are UNABLE to speak up. That time is merely days, if not HOURS, away.

TOLL FREE NUMBERS FOR CAPITOL HILL SWITCHBOARD

CREDIT TO geist for these numbers. I should have thought to post these long ago. Apparently, the Citizens are in an uproar about this Criminal Bailout of the "Biggies". COPY THESE DOWN AND SAVE THEM ON YOUR COMPUTER WHERE YOU CAN FIND THEM... THEN USE THEM...FREQUENTLY...! Let's attempt to "communicate" to our "representatives" with WORDS... before we resort to BULLETS AND SPEARS! Capitol Hill Switchboard TOLL FREE: 1-877 851-6437 (THIS ONE WORKED FOR ME) 1-800 828-0498 (THIS ONE DIALED AND THEN SEEMED TO DISCONNECT) 1-800 614-2803 (THIS ONE IS NOT IN SERVICE) 1-866 340-9281 (I DIDN'T TRY THESE LAST TWO NUMBERS) 1-866 338-1015 Main number: 202 225 -3121 - ask for your elected officials in D.C.

QUOTES TO THINK ABOUT

"Few of us can easily surrender our belief that society must somehow make sense. The thought that The State has lost its mind and is punishing so many innocent people is intolerable. And so the evidence has to be internally denied." Arthur Miller playwright "For most Americans the Constitution had become a hazy document, cited like the Bible on ceremonial occasions but forgotten in the daily transactions of life." Arthur M. Schlesinger, Jr. - (1888-1965)

PAUL CRAIG ROBERTS EXPLAINS IT VERY CLEARLY ONCE AGAIN

Has Deregulation Sired Fascism? By Paul Craig Roberts 24/09/08 "ICH" http://www.informationclearinghouse.info/article20854.htm EXCERPT: "The US Treasury does not have $700 billion on hand with which to buy the troubled assets from the troubled institutions. The Treasury will have to borrow the $700 billion from abroad. The dependency of Treasury Secretary Paulson’s bailout scheme on foreign willingness to absorb more Treasury paper in order that the Treasury has the money to bail out the troubled institutions is heavy proof that the US is in a financially dependent position that is inconsistent with that of America’s “superpower” status. The US is not a superpower. The US is a financially dependent country that foreign lenders can close down at will."

BRUCE FEIN...MORE REASONS TO IMPEACH BUSH/CHENEY

FEIN: Impeachable offenses? Bruce Fein Tuesday, September 23, 2008 http://www.washtimes.com/news/2008/sep/23/impeachable-offenses/ EXCERPT: "Under the law of impeachment, Mr. Bush is responsible for the misdeeds of his agents in the executive branch, including the vice president. James Madison, father of the Constitution, amplified in the House of Representatives that the president would be subject to impeachment, "if he suffers [his subordinates] to perpetrate with impunity high crimes and misdemeanors against the United States, or neglects to superintend their conduct, so as to check their excesses." Vice President Cheney, in contrast to other executive branch officials, does not serve at the pleasure of the president." "Article II, section 4 of the Constitution declares the, "president [and] vice president ... shall be removed from office on impeachment for, and conviction of ... high crimes and misdemeanors." Alexander Hamilton explained in Federalist 65 that impeachable high crimes and misdemeanors are "political" offenses because "they relate chiefly to injuries done immediately to society itself." James Iredell, later appointed to the Supreme Court by President George Washington, made explicit at the North Carolina ratification convention that presidential duplicity with Congress over war or comparable matters of great national moment would be an impeachable offense."

MESSAGE FROM RON PAUL EMAIL

Dear Friends: The financial meltdown the economists of the Austrian School predicted has arrived. We are in this crisis because of an excess of artificially created credit at the hands of the Federal Reserve System. The solution being proposed? More artificial credit by the Federal Reserve. No liquidation of bad debt and malinvestment is to be allowed. By doing more of the same, we will only continue and intensify the distortions in our economy - all the capital misallocation, all the malinvestment - and prevent the market's attempt to re-establish rational pricing of houses and other assets. Last night the president addressed the nation about the financial crisis. There is no point in going through his remarks line by line, since I'd only be repeating what I've been saying over and over - not just for the past several days, but for years and even decades. Still, at least a few observations are necessary. The president assures us that his administration "is working with Congress to address the root cause behind much of the instability in our markets." Care to take a guess at whether the Federal Reserve and its money creation spree were even mentioned? We are told that "low interest rates" led to excessive borrowing, but we are not told how these low interest rates came about. They were a deliberate policy of the Federal Reserve. As always, artificially low interest rates distort the market. Entrepreneurs engage in malinvestments - investments that do not make sense in light of current resource availability, that occur in more temporally remote stages of the capital structure than the pattern of consumer demand can support, and that would not have been made at all if the interest rate had been permitted to tell the truth instead of being toyed with by the Fed. Not a word about any of that, of course, because Americans might then discover how the great wise men in Washington caused this great debacle. Better to keep scapegoating the mortgage industry or "wildcat capitalism" (as if we actually have a pure free market!). Speaking about Fannie Mae and Freddie Mac, the president said: "Because these companies were chartered by Congress, many believed they were guaranteed by the federal government. This allowed them to borrow enormous sums of money, fuel the market for questionable investments, and put our financial system at risk." Doesn't that prove the foolishness of chartering Fannie and Freddie in the first place? Doesn't that suggest that maybe, just maybe, government may have contributed to this mess? And of course, by bailing out Fannie and Freddie, hasn't the federal government shown that the "many" who "believed they were guaranteed by the federal government" were in fact correct? Then come the scare tactics. If we don't give dictatorial powers to the Treasury Secretary "the stock market would drop even more, which would reduce the value of your retirement account. The value of your home could plummet." Left unsaid, naturally, is that with the bailout and all the money and credit that must be produced out of thin air to fund it, the value of your retirement account will drop anyway, because the value of the dollar will suffer a precipitous decline. As for home prices, they are obviously much too high, and supply and demand cannot equilibrate if government insists on propping them up. It's the same destructive strategy that government tried during the Great Depression: prop up prices at all costs. The Depression went on for over a decade. On the other hand, when liquidation was allowed to occur in the equally devastating downturn of 1921, the economy recovered within less than a year. The president also tells us that Senators McCain and Obama will join him at the White House today in order to figure out how to get the bipartisan bailout passed. The two senators would do their country much more good if they stayed on the campaign trail debating who the bigger celebrity is, or whatever it is that occupies their attention these days. F.A. Hayek won the Nobel Prize for showing how central banks' manipulation of interest rates creates the boom-bust cycle with which we are sadly familiar. In 1932, in the depths of the Great Depression, he described the foolish policies being pursued in his day - and which are being proposed, just as destructively, in our own: Instead of furthering the inevitable liquidation of the maladjustments brought about by the boom during the last three years, all conceivable means have been used to prevent that readjustment from taking place; and one of these means, which has been repeatedly tried though without success, from the earliest to the most recent stages of depression, has been this deliberate policy of credit expansion. To combat the depression by a forced credit expansion is to attempt to cure the evil by the very means which brought it about; because we are suffering from a misdirection of production, we want to create further misdirection - a procedure that can only lead to a much more severe crisis as soon as the credit expansion comes to an end... It is probably to this experiment, together with the attempts to prevent liquidation once the crisis had come, that we owe the exceptional severity and duration of the depression. The only thing we learn from history, I am afraid, is that we do not learn from history. The very people who have spent the past several years assuring us that the economy is fundamentally sound, and who themselves foolishly cheered the extension of all these novel kinds of mortgages, are the ones who now claim to be the experts who will restore prosperity! Just how spectacularly wrong, how utterly without a clue, does someone have to be before his expert status is called into question? Oh, and did you notice that the bailout is now being called a "rescue plan"? I guess "bailout" wasn't sitting too well with the American people. The very people who with somber faces tell us of their deep concern for the spread of democracy around the world are the ones most insistent on forcing a bill through Congress that the American people overwhelmingly oppose. The very fact that some of you seem to think you're supposed to have a voice in all this actually seems to annoy them. I continue to urge you to contact your representatives and give them a piece of your mind. I myself am doing everything I can to promote the correct point of view on the crisis. Be sure also to educate yourselves on these subjects - the Campaign for Liberty blog is an excellent place to start. Read the posts, ask questions in the comment section, and learn. H.G. Wells once said that civilization was in a race between education and catastrophe. Let us learn the truth and spread it as far and wide as our circumstances allow. For the truth is the greatest weapon we have. In liberty, Ron Paul

LATEST BOB CHAPMAN ARTICLE 9/25/08

The unbelievable breakdown in American lending standards, market instruments no more than a worthless pile of paper, note how market elitists are using the market crash to put pressure on Congress, the plan to bail out fraudsters, the vicious circle of printing more and more currency, more wild speculation to come after a bailout http://theinternationalforecaster.com/International_Forecaster_Weekly/A_700_Billion_Bailout_With_No_Review_or_Oversight_Whatsoever

DURABLE GOODS REPORT

Orders for durable-goods down 4.5% Capital spending is weaker than expected as outlook grows grimmer By Greg Robb, MarketWatch Last update: 9:16 a.m. EDT Sept. 25, 2008 WASHINGTON (MarketWatch) -- New orders for U.S.-made capital goods decreased in August by the largest amount since the beginning of the year, signaling that businesses may be getting more cautious in their outlook. New orders for durable goods fell 4.5% in August, pushed lower by weak demand across the board, the Commerce Department reported Thursday. Economists surveyed by MarketWatch were looking for durable goods orders to fall 2% in August.

JOBS REPORT

Hurricanes lead to spike in U.S. jobless claims Weekly initial claims highest in seven years By Robert Schroeder, MarketWatch Last update: 8:47 a.m. EDT Sept. 25, 2008WASHINGTON (MarketWatch) -- U.S. weekly jobless claims shot to their highest level in seven years in the latest week, the Labor Department said Thursday, as people in the hurricane-hit states of Louisiana and Texas filed for benefits. First-time filings for unemployment benefits jumped by 32,000, to 493,000 for the week ended Sept. 20, the Labor Department reported. The higher number reflects claims following the damage wreaked by Hurricane Gustav in Louisiana and Hurricane Ike in Texas

3:30AM PDST GOOD MORNING GOLD BUGS!

TODAY'S REPORTS: Jobless claims Durable goods orders New home sales The Idiot in Chief spoke last night and proved once again what a criminal liar he is. This simpleton has destroyed in eight years what it has taken us over 200 years to create, although the last 70 years at least have been a process of deconstructing the Founding Fathers' Original Plan. The Markets seem to be waiting for the "Paulson/Bernanke Miracle" to be created. No such luck, folks. It's all down hill from here for years to come. Gold will probably spike up on the opening, or just before it, then sell off and trade in a range for the day. However, any day now it is going to explode and simply keep on going. It's going to amaze you, and you will be too afraid to buy it too high, or sell it not high enough... DO NOT SELL IT! BUY IT NOW, if you can find it. GET THOSE SURVIVAL SUPPLIES IN before the population panics and the shelves are bare. DON'T FORGET TO HAVE CONTAINERS FOR LOTS OF DRINKING WATER! If the town water pumps go off for lack of power, your water won't flow. Five gallon containers are the best for portability at home. One gallon containers WITH A HANDLE for your car will let you carry two while you walk to safety in an emergency on the road. Don't forget they will FREEZE AND SPLIT in the winter even if they are inside the car and not in the trunk, so don't fill them completely. Leave room to expand. Think about having one defrosted by the home front door to take with you fresh every day when you pick up your car keys. Fill it in the morning with HOT WATER while you make your coffee, so it won't freeze as fast in your car during your work day.

6:05PM PDST GT's COMMENTS ON BUSH'S SPEECH

THE MAN IS COMPLETELY FULL OF SHIT!

FROM RON PAUL 2008 EMAIL

Wednesday, September 24, 2008 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

FROM DEMOCRACY NOW VIA JSMINESET.COM

Army Unit to Deploy in October for Domestic Operations http://www.democracynow.org/2008/9/22/headlines Beginning in October, the Army plans to station an active unit inside the United States for the first time to serve as an on-call federal response in times of emergency. The 3rd Infantry Division’s 1st Brigade Combat Team has spent thirty-five of the last sixty months in Iraq, but now the unit is training for domestic operations. The unit will soon be under the day-to-day control of US Army North, the Army service component of Northern Command. The Army Times reports this new mission marks the first time an active unit has been given a dedicated assignment to Northern Command. The paper says the Army unit may be called upon to help with civil unrest and crowd control. The soldiers are learning to use so-called nonlethal weapons designed to subdue unruly or dangerous individuals and crowds. GT sez: Get your weapons cleaned and re-learn how to use them effectively for self-defensive purposes, and possibly other situations.

4:50AM PDST GOOD MORNING GOLD BUGS!

TODAY'S REPORT: Existing home sales 7AM EASTERN The deck chairs are being moved every day now. Sometimes hourly. But the Ship of State is still taking on water. I'm sure you have all noticed that the markets don't react rationally at all. This is the result of MANIPULATION. The manipulation is about as obvious as a bad magic trick. There is nothing to say about the individual markets that will help you. The dollar is down, but does gold go up? NO! The euro sinks (or goes up) intra-day, and gold doesn't react, or reacts illogically. This is where THE FUNDAMENTALS of GOLD vs. FIAT MONEY has to be understood. We should all BELIEVE WITHOUT RESERVATION by now, that GOLD IS THE MONEY... and FIAT MONEY is fire starter at best and toilet paper for sure. Time wounds all heals... And the people who perpetrate(d) this MASSIVE FRAUD will have their judgment day. The anger in people is mounting, appropriately, right at the end of George Bush's term as the most DESTRUCTIVE president in our short history as a nation. He, and his crew of idiots, have managed to destroy, in less than eight years, what it has taken many lives and over two hundred years to create, even though we stole the land from its original owners and then killed and tortured them, and continue to humiliate them to this day. We are all now getting what we COLLECTIVELY DESERVE for our unwillingness to PARTICIPATE in our Guv'mint at all levels. We have become a hateful, xenophobic and gluttonous people who pray to mythical beings for salvation and forgiveness and make THINGS OUR IDOLS rather than have real human interactions with our fellow human beings, and have become human "doings". The gold market this morning is doing its usual pre-NY opening "dance", having just done a "head fake" rally only to rapidly sell off down to the white trend line (see charts). Where it will go today, I do not know. There will be trading opportunites galore, all very risky if you are not lightening quick and take your profits at the first opportunity. Long term CASH buyers should buy in on strong sell offs, and then go back to bed. Those unable to buy gold and silver should be fixing up their survival area and stocking it with supplies to last a long time.

HISTORY YOU SHOULD KNOW

"What no one seemed to notice. . . was the ever widening gap. . .between the government and the people. . . And it became always wider. . . the whole process of its coming into being, was above all diverting, it provided an excuse not to think for people who did not want to think anyway . . . (it) gave us some dreadful, fundamental things to think about . . .and kept us so busy with continuous changes and 'crises' and so fascinated . .. by the machinations of the 'national enemies,' without and within, that we had no time to think about these dreadful things that were growing, little by little, all around us. . . Each step was so small, so inconsequential, so well explained or, on occasion, 'regretted,' that unless one understood what the whole thing was in principle, what all these 'little measures'. . . must some day lead to, one no more saw it developing from day to day than a farmer in his field sees the corn growing. . . .Each act. . . is worse than the last, but only a little worse. You wait for the next and the next. You wait for one great shocking occasion, thinking that others, when such a shock comes, will join you in resisting somehow. You don't want to act, or even talk, alone. . . you don't want to 'go out of your way to make trouble.' . . .But the one great shocking occasion, when tens or hundreds or thousands will join with you, never comes. That's the difficulty. The forms are all there, all untouched, all reassuring, the houses, the shops, the jobs, the mealtimes, the visits, the concerts, the cinema, the holidays. But the spirit, which you never noticed because you made the lifelong mistake of identifying it with the forms, is changed. Now you live in a world of hate and fear, and the people who hate and fear do not even know it themselves, when everyone is transformed, no one is transformed. . . .You have accepted things you would not have accepted five years ago, a year ago, things your father. . . could never have imagined." : From Milton Mayer, They Thought They Were Free, The Germans, 1938-45 (Chicago: University of Chicago Press, 1955) http://www.informationclearinghouse.info/article11845.htm

AN EMAIL FROM DENNIS KUCINICH

Protecting the public interest in any economic "bailout" Dear Friend, The U.S. government has been turned into an engine that accelerates the wealth upwards into the hands of a few. The Wall Street bailout, the Iraq War, military spending, tax cuts to the rich, and a for-profit health care system are all about the acceleration of wealth upwards. And now, the American people are about to pay the price of the collapse of the $513 trillion Ponzi scheme of derivatives. Yes, that’s half a quadrillion dollars. Our first trillion dollar compression bandage will hardly stem the hemorrhaging of an unsustainable Ponzi scheme built on debt "de-leverages." Does anyone seriously think that our public and private debts of some $45 trillion will be paid? That the administration's growth of the federal debt from $5.6 trillion to $9.8 trillion while borrowing another trillion dollars from Social Security has nothing to do with this? Does anyone not see that when we spend nearly $16,000 for every family of four in our society for the military each year that we are heading over the cliff? This is a debt crisis, not a credit crisis. Just as FDR had to save capitalism after Wall Street excesses, we have to re-invigorate our economy with real - not imaginary - growth. It does not address the never-ending war on the middle class. The same corporate interests that profited from the closing of U.S. factories, the movement of millions of jobs out of America, the off-shoring of profits, the out-sourcing of workers, the crushing of pension funds, the knocking down of wages, the cancellation of health care benefits, the sub-prime lending are now rushing to Washington to get money to protect themselves. The double standard is stunning: their profits are their profits, but their losses are our losses. This bailout will not bring real jobs back to America. It will not bring back jobs that make things. It does not rebuild our schools, streets, neighborhoods, parks or bridges. The major product of this financial economy is now debt. Industrial capitalism has been destroyed. In the next few days I will push for a plan that includes equity for every American in any taxpayer investment in this so-called bail-out plan. Since the bailout will cost each and every American about $2,300, I have proposed the creation of a United States Mutual Trust Fund, which will take control of $700 billion in stock assets, convert those assets to shares, and distribute $2,300 worth of shares to new individual savings accounts in the name of each and every American. I will also insist that all of the following issues be considered in whatever Congress passes: Reinstatement of the provisions of Glass-Steagall, which forbade speculation Re-regulation of the finance, insurance, and real estate industries Accountability on the part of those who took the companies down: a) resignations of management b) givebacks of executive compensation packages c) limitations on executive compensation d) admission by CEO's of what went wrong and how, prior to any government bailout Demands for transparencey a) with respect to analyzing the transactions which took the companies down b) with respect to Treasury's dealings with the companies pre and post-bailout An equity position for the taxpayers a) some form of ownership of assets Some credible formula for evaluating the price of the assets that the government is buying. A sunset clause on the legislation Full public disclosure by members of Congress of assets held, with possible conflicts put in blind trust. A ban on political campaign contributions from officers of corporations receiving bailouts A requirement that 2008 cycle candidates return political contributions to officers and representatives of corporations receiving bailouts And, most importantly, some mechanism for direct assistance to homeowners saddled with unreasonable or unmanageable mortgages, as well as protection for renters who have lived up to their obligation but fall victim to financial tragedy when the property they live in undergoes foreclosure. These are just some thoughts on the run. You will hear more from me tomorrow. Dennis J Kucinich www.Kucinich.us 216-252-9000 877-933-6647

10:10AM PDST GT's COMMENTS ON THE PAULSON/BERNANKE HEARINGS

Everyone at the Hearing is being very polite to one another, as is expected in the old saw "honor among thieves!" The only thing these Senators are doing is asking some very well thought out questions in an attempt to show the Public that they are there in an attempt to seek the best for the Publiic's Welfare. Nothing could be further from the truth. Their pose is merely to absolve them later when they WILL VOTE TO GIVE PAULSON THE AUTHORITY HE SEEKS! Paulson is starting to stammer (an effect he uses to keep people from hearing what he is saying, and also an affectation of liars) more an more as the questions become more probing. The most important element is whether or not he will be afforded COMPLETE IMMUNITY from later investigation or prosecution. Read Bob Chapman's articles to understand the implications of this obscene manipulation of Congress (who is in on it) and this blatant attempt to destroy our Constitution, and gain Complete Dictatorial Control of the country. Bernanke, who hasn't had to answer many questions, simply resorts to complexity and intellectual ramblings to obfuscate his criminal involvement in this disaster. Chris Cox seems to be pretty straight forward for now, but is most certainly a part of the whole nefarious cover up of the criminal actions of the Guv'mint. Lockhart, the new head of Fan/Fred, is simply a walking disaster looking for a place to happen.

7:00AM PDST

WATCH THE PAULSON/BERNANKE HEARINGS ON CSPAN3 RIGHT NOW

NEW YORK TIMES ARTICLE

A BAILOUT ABOVE THE LAW http://www.nytimes.com/2008/09/23/business/23sorkin.html?_r=2&adxnnl=1&oref=slogin&adxnnlx=1222156803-yR/WRQbegKiMBMALJVexVA&oref=slogin

4:47AM PDST GOOD MORNING GOLD BUGS!

TODAY'S REPORT: Retail chain index 5:45AM PDST As Hanky Panky Paulson and Helicopter Ben head to Congress today to try to capture the flag and gain EMPERORSHIP of the country, all Markets are on hold to see what is going to happen with THE BIG BAILOUT (aka THE DEATH OF THE REPUBLIC/CONSTITUTION) All I can suggest is to thoroughly read CHAPMAN, SUPKIS, AND SINCLAIR/NORCINI to be able to understand how this mess is proceeding. In any event, WE ARE ALL IN BIG TROUBLE NOW! There is simply NO SOLUTION to this WITHOUT PAIN! The big decision now, is how much of the pain can these CRIMINAL BANKERS AND POLITICIANS/WAR CRIMINALS foist off on the Citizeny of the World, and still remain free to enjoy their loot without being hung. Gold is not trading in any recognizable pattern in the short term, and most up moves have been aborted through MANIPULATION. The best you can do is to BUY CASH GOLD/SILVER on the pull backs. As Bob Chapman has stated..."without gold, you will be vaporized" in the future economic collapse. Happy thoughts!

LATEST MIKE WHITNEY ARTICLE 9/21/08

Mushroom Cloud over Wall Street 21/090/08 By Mike Whitney EXCERPT: "No one knows what will happen next. We are in uncharted waters. And no one knows what the political landscape will look like after the dust settles from this outrageous power grab. According to Paulson, things are so dire, the entire nation will be reduced to smoldering rubble and twisted iron. But can we trust him this time after his long litany of lies?"... "Don't let the prospect of a national crisis trick you into giving up your freedom, America. The people behind this scam are the same landsharks and flim-flam men who polluted the global marketplace with their snake oil and toxic sludge. These are the fraudsters who manufactured the crisis to begin with."... FULL ARTICLE AT: http://www.informationclearinghouse.info/article20839.htm

BOB CHAPMAN'S LATEST ARTICLE 9/21/08

http://theinternationalforecaster.com/International_Forecaster_Weekly/Half_a_Trillion_Bailout_For_The_Creators_of_the_Market_Crisis EXCERPT: "You will eat multiple trillions of dollars from each of the following: (1) The phony War on Terror; (2) the loss in real estate values caused by record inventories that will be created by defaults and foreclosures resulting from rampant unemployment, loan fraud, over-leveraged consumers and ARM and Option ARM resets; (3) the combined bailout of Fannie's and Freddie's share of the toxic waste contained in the approximately half of all US mortgages which these cess pools have made or insured, plus the losses from the Resolution Trust Company II bailout of the toxic waste from the remaining half of US mortgages; (4) the shortage in the FDIC's insurance reserves that will be generated by losses incurred on account of what will be anywhere from 1,000 bank failures, as suggested by billionaire Wilber Ross, to perhaps as many as half of all banks in the US, as recently suggested by Ken Lewis, CEO of Bank of America; (5) the PBGC's funding shortage to cover losses suffered by pension plan beneficiaries on account of pension under-funding caused by what will be the loss of as much as half of the value of all US equity shares; (6) the bailouts likely to occur when the credit default swaps and interest rate swaps, along with the entire bond market, go under in what will be the greatest bear market of all time in both bonds and derivatives, which are guaranteed to occur based on the hyperinflation that will be caused by all the other bailouts just listed, as well as by our continually burgeoning budget and trade deficits, the resulting double digit interest rates which will become necessary in order to combat inflation and to properly reward risks, which are about to escalate in astronomical fashion, and to attract foreign investment, which will soon drop to nil based on negative rates of return; (7) the loss in purchasing power due to hyperinflation generated by 1 through 6 above; and (8) the new wars for profit that will be started in order to restart our vaporized economy in the wake of the death and destruction caused by 1 through 7, above, and you can also add in the costs associated with potential social unrest and revolution that are almost certain to occur. When number 6 above comes to fruition, the entire world economy will implode and go into deep depression. None will escape the coming juggernaut of losses when the glowing, quadrillion dollar Derivative Death-Star goes supernova. The entire world economy will get sucked into the resulting financial black hole."

WANT TO UNDERSTAND WHAT'S HAPPENING?

Once again... I STRONGLY recommend that you read: BOB CHAPMAN'S ARTICLES at: http://theinternationalforecaster.com/ Especially "ALL ROADS LEAD TO HYPER INFLATION" You will finally have an understanding of how all the pieces fit. Read as many of his articles listed as you can. ALSO... Go to CULTURE OF LIFE NEWS.COM AT: http://elainemeinelsupkis.typepad.com/ and read ELAINE MEINEL SUPKIS's DAILY ARTICLES... Both of these writers are THE BEST available for EXPLAINING IN DETAIL what has happened, what IS HAPPENING, and what WILL HAPPEN... YOU MUST GET PREPARED RIGHT NOW, AS THE COLLAPSE IS IN PROGRESS! GET YOUR MONEY OUT OF BANKS NOW! BUY GOLD AND SILVER NOW! GET ALL THE SURVIVAL SUPPLIES YOU NEED FOR A VERY LONG TIME...NOW!

JIM SINCLAIR'S COMMENTS AUGUST 22, 2008

Posted On: Monday, September 22, 2008, 7:15:00 PM EST Two Criterion About The Gold Market You Must Know Author: Jim Sinclair Dear Extended Family, Today's events have put two very important criterion in place for the markets that you must be aware of going into January 14, 2011. 1. The dollar has a solid roof above it that now cannot be penetrated. 2. Gold has a solid floor underneath it that now cannot be penetrated. Selling the dollar on strength and buying gold on weakness with attention to what I have taught you has lost 90% of its risk factor. With a solid floor under gold, the gold mining business becomes a more sound investment than it ever has been. That is simple logic and is now fact. With diminishing reserves and very few potential mines coming online, the juniors with the real thing will transition to valuation based on the value of their underlying assets and the quality of deals they make with partners. This will effectively end the rein of the short seller, both illegal and legal. This understanding will be of great value to you as we move towards 2011. The more dynamic the event, the less words are required for you to grasp the CONSEQUENCES. Respectfully yours,

4:20AM PDST GOOD MORNING GOLD BUGS!

TODAY'S REPORTS: Empire state index Industrial production Welcome to the New World (Order?) Everything is now different... Essentially we have NO WORKING CONSTITUTION...NOR DO WE HAVE FREE MARKETS! I am having trouble with my trading platform, so I can't comment right now.

HOMELESS ENCAMPMENTS ON THE RISE

In Hard Times, Tent Cities Rise Across the Country Since foreclosure mess, homeless advocates report rise in encampments http://www.informationclearinghouse.info/article20810.htm

THE LATEST MIKE WHITNEY ARTICLE

http://www.informationclearinghouse.info/article20828.htm Grasping at Straws By Mike Whitney 21/09/08 "ICH" -- - On Friday morning, Senator Christopher Dodd, the head of the Senate Banking Committee, was interviewed on ABC's “Good Morning America.” Dodd revealed that just hours earlier at an emergency meeting convened by Secretary of the Treasury Henry Paulson and Federal Reserve chairman Ben Bernanke, lawmakers were told that "We’re literally maybe days away from a complete meltdown of our financial system.” Dodd added somberly, that in his three decades of serving in public office, he had "never heard language like this.” The system is at the breaking point, and despite Wall Street's elation from the proposed $1 trillion dollar bailout to remove toxic mortgage-backed debt from banks balance sheets, the market is still correcting in what has become a vicious downward cycle. This cycle will persist until the bad debts are accounted for and written off for or until the exhausted dollar-system collapses altogether. Either way, the volatility and violent dislocations will continue for the foreseeable future. Most people don't understand what happened on Thursday, but the build-up of bad news on the Lehman default and the $85 billion government takeover of AIG, triggered a run on the money markets and a freeze in interbank lending. The overnight LIBOR rate (London Interbank Offered Rate) more than doubled to 6.44%! Bank of America reported overnight borrowing rates in excess of 6%. Longer-term LIBOR rates also rose sharply. On Wednesday, jittery investors removed their money from money markets and flooded short-term US Treasurys for the assurance of a government guarantee on their savings even though interest rates had turned negative which means that their balance would actually shrink at the date of maturity. This is unprecedented, but it does help to illustrate how raw fear can drive the market. The TED spread (the TED Spread measures market stress by revealing the reluctance of banks to lend to each other) widened and the credit markets froze in place. Borrowing three-month dollars on the interbank market and the U.S. Treasury's three-month borrowing costs widened five full percentage points. That's huge. The banking system shut down. What does it mean? It means the Federal Reserve has lost control of the system. The market is driving interest rates now, and the market is terrified. End of story. When the Fed announced its emergency program to dump $180 billion into the global banking system, short term Libor retreated slightly but long-term rates have remained stubbornly high. The noose continues to tighten. These rates are pinned to 6 million US mortgages which will be resetting in the next few years. That's more bad news for the housing industry. The entire system is deleveraging with the ferocity of a Force-5 gale touching down in the Gulf, and yet, Henry Paulson has decided that the prudent thing to do is build levies around the system with paper dollars. Naturally, many people who understand the power of market-corrections are skeptical. It won't work. Libor is pushing rates upwards--that's the "true" cost of money. The Fed Funds rate (2 percent) is supported by infusions of paper dollars into the banking system to keep interest rates artificially low. Now the extreme pace of deleveraging has the Fed on the ropes. Trillions of dollars of credit is being sucked into a black hole which is raising the price of money. It's out of Bernanke's control. He needs to step out of the way and let prices fall or the dollar system will vanish in a deflationary vacuum. The problems cannot be resolved by shifting the debts of the banks onto the taxpayer. That's an illusion. By adding another $1 or $2 trillion dollars to the National Debt, Paulson is just ensuring that interest rates will go up, real estate will crash, unemployment will soar, and foreign central banks will abandon the dollar. In truth, there is no fix for a deleveraging market anymore than there is a fix for gravity. The belief that massive debts and insolvency can be erased by increasing liquidity just shows a fundamental misunderstanding of economics. That's why Henry Paulson is the worst possible person to be orchestrating the so called rescue project. Paulson comes from a business culture which rewards deception, personal acquisitiveness, and extreme risk-taking. Paulson is to finance capitalism what Rumsfeld is to military strategy. His leadership, and the congress' pathetic abdication of responsibility, assures disaster. Besides, why should the taxpayers be happy that the stocks of Morgan Stanley, Washington Mutual and Goldman Sachs surged on the news that there would be a government bailout yesterday? These banks are essentially bankrupt and their business models are broken. Keeping insolvent banks on life support is not a rescue plan; it's insanity. No one has any idea of the magnitude of the deleveraging ahead or the size of the debts that will have to be written down. That's because 30 years of deregulation has allowed a parallel financial system to arise in which over $500 trillion dollars in derivatives are traded without any government supervision or accounting. These counterparty transactions are interwoven throughout the entire "regulated" system in a way that poses a clear and present danger to the broader economy. It's a mess. For example, there are an estimated $62 trillion of Credit Default Swaps (CDS) alone, which are basically insurance policies for defaulting bonds. AIG was as heavily involved in CDS as they were in regulated insurance products. So why would AIG sell CDS rather than conventional insurance? Because, just like the banks, AIG could maximize its profits by minimizing its capital cushion. In other words, it didn't really have the capital to pay off claims when its CDS contracts began to blow up. If it had been properly regulated, then government regulators would have made sure that it was sufficiently capitalized with adequate reserves to pay off claims in a down-market. Now taxpayers will pay for the lawless system which men like "industry rep" Henry Paulson put in place. That's deregulation in a nutshell; a system that allows Wall Street banksters to create credit out of thin air and then run weeping to Congress when their swindles backfire. Inflating the currency, printing more money, and increasing the deficits won't help. The bad debts have to be accounted for and liquidated. The Paulson strategy is to create another ocean of red ink while refusing to face the underlying problem head-on. This just further exacerbates the consumer-led recession which economists know is already setting in everywhere across the country. Demand is down and consumer spending is off due to falling home equity, job losses, and tighter lending standards at the banks. The broader economy does not need the added downward pressure from higher taxes, bigger deficits, or inflation. Paulson's plan is a band-aid approach to a sucking chest wound. The debts are enormous and the pain will be substantial, but the problem cannot be resolved by crushing the middle class or destroying the currency. The malfunctioning of the markets and the freeze-over in the banking system are the outcome of a massive credit unwind instigated by trillions of dollars of low interest credit from the Federal Reserve which was magnified many times over via complex derivatives contracts and extreme leveraging by speculative investment bankers. This has generated the biggest equity bubble in history. That bubble is now set for a "hard-landing" which is the predictable result of an unsupervised marketplace where individual players are allowed to create as much credit as they choose. If Paulson is not removed and his rescue plan scrapped altogether; the dollar will lose its position as the world's reserve currency and the US government will face a historic funding crisis as foreign sources of capital dry up. That will thrust the country into a hyper-inflationary depression.

POSTS FROM COMMENTS SECTION ON TALKBACKTOGOLDTRADER SUNDAY 9/21/08

geist said... I cut and pasted this from a reply to one of elaine's articles.. Bush Asks For Another $700 Billion reply from Michael.. 2nd page of reply's.... Elaine, Believe it or not, the worst thing happening right now is NOT the "reverse Robin Hood" syndrome in which the U.S. government steals (through borrowing, whose interest must be repaid from future taxes - no principle will ever be repaid) from the poor to give to the rich. No, that has been going on ever since the 1940's, when the National Debt became permanent rather than temporary, and it has been official policy since the 1980's, when - to quote Vice President Cheney - "Reagan proved that deficits don't matter." Cheney was, by the way, referring to mattering politically (the American voter being too stupid to understand the consequences of ever-increasing government debt), not mattering economically. And, of course, the Bush tax cuts (soon to be the McCain tax cuts) did a great job of increasing borrowing to overfeed the rich. No, there's nothing new about using the Fed, Treasury, and Congress to create ever bigger debt for the purpose of redistributing wealth upward the socio-economic scale. The only real innovation happening now is the use of a FINANCIAL CRISIS mentality to rush all this bailout graft through with little or no discussion, before the election. However, THERE IS AN ABSOLUTELY DRASTIC NEW CHANGE OCCURRING UNDER THE VEIL OF THESE "FINANCIAL RESCUE OPERATIONS" THAT COMPLETELY DESTROYS OUR CONSTITUTIONAL DEMOCRACY!!! I'm frankly shocked you haven't given this political revolution the same attention that all the money-changing is getting. As you know, in 2002 the U.S. Congress absconded (GT sez: I think he means "abjure") its responsibility under Article I of the Constitution to declare war, make rules concerning capture of prisoners, and make rules controlling the military forces, by giving the Executive branch unlimited authority to do "whatever is necessary" to "combat terrorism anywhere in the world," permitting the Executive branch to attack wherever it wants, whenever it wants, at any cost (to be paid by borrowing). Our only check on total abuse of executive power has been the Supreme Court (which Congress has tried to end-run with legislation making the executive branch all-powerful in seizing, confining, and torturing people; habeus corpus is now dead, in violation of Article I, thanks to Congress). This is not really new - remember the Gulf of Tonkin mechanism that gave the same unlimited power to Johnson (and later Nixon) to play World Conquerer in Vietnam (and when they felt like it, Cambodia). All the attention - then as now - ended up on how successful the conquering was or wasn't, not on how Congress gave away it's Constitutional responsibility and authority. What is new - and devastating to our constitutional democracy - is the way that Congress, since 2000 - has absconded (GT sez: Once again, I think he means "abjure") its responsibility to borrow money on the credit of the U.S., coin money and regulate its value. Not only have the Fed and Treasury been permitted - nay requested, authorized, and gratefully thanked - to create government debt through independent action and to value and devalue the currency at will. They have been happily delegated by Congress ALL RESPONSIBILTY for the fiscal and financial present and future of the U.S. This would be bad enough - a mirror image of the Roman Senators replacing the Republic with a permanent Imperial Dictatorship by refusing to henceforth make any difficult legislative decisions regarding the Roman military and the Roman economy because that society had become too big and too complex for simple solutions to its problems. They gratefully thanked the Emperor for accepting all their traditional responsibility and authority and for letting them devolve into a purely symbolic rubber-stamping role (which still allowed them to collect graft in exchange for handing out petty sinecures). Eventually, they just declared the Emperor a god, and went home happy. I understand that our Congressmen and Congresswomen are too stupid to grasp the complexity of our own fiscal and financial messes and too cowardly to execute their proper duties regarding controlling our debts and preserving the value of our currency. But now they are COMMITTING TREASON. Part of the legislation they are getting ready to pass MAKES ANY ACTION TAKEN BY THE SECRETARY OF THE TREASURY IN SPENDING BORROWED MONEY ON BAILOUTS IMMUNE FROM REVIEW BY ANY COURT OF LAW IN THE COUNTRY. They are now violating Articles I, II and III of the Constitution, which gives the Judiciary power over all cases in law and equity arising under the Constitution and the laws of the United States, and gives the Legislature and the Executive NO OVERRIDING AUTHORITY to take ANY ACTION for ANY REASON that is not subject to judicial review. The atmosphere of SUPREME CRISIS generated by some greedy capitalists, the Fed, and the Treasury, regarding the taking of some big losses by said capitalists in the process of restoring equilibrium to an overleveraged economy, is now serving as cover to declare the Imperial Presidency and the Federal Reserve as Greater Powers than the Constitution itself. Before this is over, no matter what happens to our national finances, the Republic will be stone cold dead. September 20, 2008 8:04 PM *********************************** AND THIS ONE: geist said... article from culture of life news "Unelected Bernanke And Paulson Sieze Power In COUP" .....comment from GK...... 1) The key line in the proposed bill is this one: "The Secretary's authority to purchase mortgage-related assets under this Act shall be limited to 700,000,000,000 dollars outstanding at any one time" What this does is give Hank Paulson, acting as an emperor with unchecked control over the nation's treasury, a $700 billion line of credit in which he can buy up toxic debt for whatever price he'd like to pay, $700 billion at a time. In other words - he could buy trillions. Trillions and trillions and trillions. Buying and selling, buying and selling. He can sell the junk he buys from his banker friends for whatever price he wants, saddling the taxpayers with the loss. He keeps this process going, using his $700 billion credit card. Buy for 60 cents on the dollar, sell for 30 cents on the dollar. Buy for 80 cents on the dollar, sell for 5 cents on the dollar. He's in charge. $700 billion folks IS JUST THE LINE OF CREDIT. He can purchase trillions and trillions of bad debt with this credit card, as long as only $700 billion is OUTSTANDING at any one time. 2) Hank Paulson, CEO of Goldman Sachs on leave, has complete and total control over the nation's treasure. He would be unchecked by Congress, unchecked by the President. He will be king. Here's the text: "The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act, including, without limitation" Using this power, Hank Paulson of Goldman Sachs could pay Goldman Sachs anything he wanted for their mortgage assets. Let's say the market value was 20 cents on the dollar. Hank Paulson could pay them 100 cents on the dollar. Its his decision and his alone. No oversight. No limitations. Hank Paulson could simply give the nation's treasure to Goldman Sachs. Get it now? 3) Deputizing the banks and investment banks as "agents of the government". Seriously. Here's the text: "Designating financial institutions as financial agents of the Government, and they shall perform all such reasonable duties related to this Act as financial agents of the Government as may be required of them" 4) Have no outside control over the firesale of assets and loss to the taxpayer. Again, Hank Paulson and Hank Paulson alone shall be in control. No auditors. No oversight. No multiple bids. No nothing. Hank Paulson and Hank Paulson alone. Here you go: "Sale of Mortgage-Related Assets. The Secretary may, at any time, upon terms and conditions and at prices determined by the Secretary, sell, or enter into securities loans, repurchase transactions or other financial transactions in regard to, any mortgage-related asset purchased under this Act." 5) Hank Paulson has final say. Hank Paulson knows what's best. Hank Paulson cannot be reversed. Hank Paulson cannot be sued. Hank Paulson is king. "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" So, what can you do? Normally here I'd say contact your corrupt Congressman or Senator. Contact the media. But folks, Congress has been bought. The media have been bought. The American people have lost. September 21, 2008 7:22 AM

6:55AM PDST GT COMMENTS SUNDAY SEPT 21, 2008

At this hour, the Lead Article on MarketWatch about the Guv'mint Bailout Plan has 1627 comments... Looks like a few more of the silent lemmings who read but don't participate, are beginning to have something to say. I doubt very strongly that any of them have much of a clue that their IS NO SOLUTION to the situation WE ALL CREATED... except...TO PAY THE BILL AND SUFFER THE PAIN! Remember...ROCKS ARE STILL HARD, AND WATER IS STILL WET! And..YOU CAN'T FOOL MOTHER NATURE OR GRAVITY! ********** UPDATE AT 10:50AM PDST- Comments on MarketWatch have grown to 2036 **********