“How long until Obama starts writing checks?”
by Mike Krieger, of KAM LP
Originally posted Feb 24, 2011
SOCIETY IN EVERY STATE IS A BLESSING, but government even in its best state is but a necessary evil in its worst state an intolerable one; for when we suffer, or are exposed to the same miseries by a government, which we might expect in a country without government, our calamities are heightened by reflecting that we furnish the means by which we suffer! Government, like dress, is the badge of lost innocence; the palaces of kings are built on the ruins of the bowers of paradise. For were the impulses of conscience clear, uniform, and irresistibly obeyed, man would need no other lawgiver; but that not being the case, he finds it necessary to surrender up a part of his property to furnish means for the protection of the rest; and this he is induced to do by the same prudence which in every other case advises him out of two evils to choose the least. Wherefore, security being the true design and end of government, it unanswerably follows that whatever form thereof appears most likely to ensure it to us, with the least expense and greatest benefit, is preferable to all others.
–Thomas Paine, Common Sense (1776)
Back to the future: The “Stimulus” Act of early 2008
Let’s all take a trip back to February 13th, 2008. Our war mongering 43rd President, George W. Bush, freaked out by the impact of the subprime crisis on the U.S. economy announced the now almost forgotten “Stimulus Act of 2008.” A big part of this typical Keynesian stimulus (remember Keynesianism is not a partisan thing, it is a economic religion handed down by the Fed to both the Republican and Democratic establishment) was simply writing checks to people.
At the time, I criticized it harshly and said it would lead to massive inflation. Guess what? Oil was trading at about $93/b and five months later it topped out at $147/b for a monster gain of 58%. Then all hell broke loose.
George W. Bush should actually be a hero for most of the fake liberals and fake progressives out there that just spout meaningless drivel about how things should be without ever bothering to look into and understand how the global financial system actually works. That would be too much work. It’s much easier to just be ignorant and support “your guy” as they county goes down in flames. The reason the fake liberals and progressives should love W so much is that at least he just wrote checks to average people.
Obama is the biggest puppet of the banking oligarchs in American history. I mean, this guy’s entire administration so far has revolved around printing money and handing it out, but rather than hand it out to the people, he gave it all to the banks that cratered your children’s futures in the first place. Of course, in order to give away trillions to the financial oligarchs that should be in prison as opposed to the petty dealers caught with dime bags that fill the prison, you need to give the money away in secret.
In comes the Federal Reserve. To make matters worse, after the Fed and Obama bailed out the banksters the next way to hand out money was defined in Jackson Hole Wyoming in August of last year where Banana Ben Bernanke laid out his plan for QE2. The unstated yet stated purpose of this policy was to juice the stock market. He has succeeded wildly in this manipulation until now.
Again, it isn’t the 44 million (a new record every time the data is updated) Americans on food stamps that benefit from this policy, it is the financial oligarchs that game the system and push the stock market up until the point that retail investors finally buy the stocks from them and then they are permitted to crash. Don’t play their crooked game, don’t buy stocks, buy physical gold and silver and take this nation back from the sociopathic financial control freaks running it now.
How long until Obama starts writing checks?
The big news this week from Saudi Arabia is that upon his return to the Kingdom after a three month medical absence, King Abdullah has decided to implement a massive $36 billion payoff to his people to stem off any revolt. Amongst other things: “The measures include a 15 per cent salary rise for public employees to offset inflation, reprieves for imprisoned debtors, and financial aid for students and the unemployed” according to the Financial Times. Interestingly, this is exactly what I said would happen in my recent interview with Max Keiser from last week. Please take the time to watch as it offers more detailed analysis on how I think this will all play out. It is in three parts and I have gotten great feedback so far.Link below.
So the payoffs have begun in earnest and the question is, when will banker puppet Obama will engage in similar tactics. My guess is very soon. More and more people are aware of the sham that is his presidency and as the people realize they have been sold out to make sure the financial oligarchs got their record Christmas bonuses and can fund his 2012 run he will need to give a pay raise to the 15% of Americans on food stamps. Interestingly, my friend Dave DeGraw at Ampedstatus recently put out an excellent report where he shows how poverty and inequality in the United States of Banana Republic are in many ways comparable or worse than in Egypt. The whole report is here. http://ampedstatus.org/analysis-of-the-global-insurrection-against-neo-liberal-economic-domination-and-the-coming-american-rebellion-we-are-egypt-revolution-roundup-3/
In it he also shows how JP Morgan is making some nice money on the food stamp business. Yep, it seems JPM is the largest processor of food stamp benefits in the United States. Here is a video interview with Bloomberg TV’s Margaret Brennan about JPM’s $5.47 billion in net revenue in this business. In the interview, this guy admits “the food stamp business is very important to JP Morgan.” Poverty is good business for these folks. You starting to get the picture of how this works? Thanks for the change, Obama you gigantic fraud. Video is here you have to watch this… http://www.youtube.com/watch?v=5zf8v7RYk6Y&feature=player_embedded#at=13
I used to kind of like this guy. No longer. When I read this article yesterday it made my blood boil. The article is titled “America Should Sell National Assets To Balance The Books.” As a historian he knows that when people are stuffed with impossible to repay debt they are reduced to slaves (look up “indentured servant” for a historical reference). This trick has been going on since the beginning of recorded history. My argument is that Federal Reserve Notes (we inappropriately call them dollars) and the debt itself are based in fraud and are therefore illegitimate.
Most Americans were against taking on all this debt and it was shoved down our throats to bail out the financial terrorists that did this to us in the first place. If ANYTHING what we should do is shut down the TBTF (too big to fail) banks and then sell the assets of the bank executives like Jaime Dimon and Lloyd “doing god’s work” Blankfein. Ferguson is a lot of things but stupid isn’t one of them so this is really a total disgrace. We should just default on all the debt accumulated since the crisis at the very least. America is still long a lot of the things the world needs like food and water and we can use that to dig ourselves out from the rumble after default.
Our standards of living are going to plunge NO MATTER what we do. This is written in the cards based on past behavior, but it is better to be poor and free than be poor and also a slave to foreign interests and a banking oligarchy. Shame on you, Ferguson. Article is here: http://www.businessinsider.com/america-should-sell-national-assests-to-balance-the-books-2011-2
A couple of days ago a contact of mine sent me an email telling me he was considering getting another passport as a hedge. This was my response:
I too initiated the process that you are in now several years back. I started looking into another passport and actually could have done it rather easily but I stopped the process at the last minute. The reason I stopped is because I wanted to feel like my back was against the wall to keep me fighting hard. I also think that I have no reason to flee and the people that need to think about fleeing are the parasitic crooks doing this to the country. America is made up of the descendants of the most aggressive, ballsy, entrepreneurial people on planet earth. We are the descendants of those that didn’t stay put where they were but left everything and came here because they wouldn’t stand for tyranny. Their blood runs in our veins. We may have been conditioned to be sheep but we are waking up and I think critical mass has been reached. I agree with you on the average joe being lazy and asleep, but the average joe is always a spectator to the real changes that are instituted by a small percentage of the citizenry. Anyway, we shall see but I will go down swinging. I owe it to my grandparents (who fled Eastern Europe) and my mother (who fled Chile in the 1970’s).
Written by aurick
28/02/2011 at 8:21 pm
Tagged with Ben Bernanke, currency debasement, debt, debt default, debt slavery, depression, doing God’s work, Eastern Europe, economic collapse, economic crisis, Federal Reserve, financial crisis, financial oligarchs, Goldman Sachs, Great Depression, Keynesian Stimulus, Keynesianism, public debt, Quantitative easing, Saudi Arabia, sovereign debt crisis, sovereign default, Too big to fail