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"Audit: Fed gave $16 trillion in emergency loans"

Ben Bernanke

via Audit: Fed gave $16 trillion in emergency loans | The Raw Story.

All this amounts to is that the Federal Reserve, as pre-planned, bought the toxic garbage of the Wall Street so-called investment banks and others and are causing the American taxpayers to work it off over decades. That's all there is to it.

None of it was necessary in the slightest. All of those institutions could have been, and should have been, taken over by the federal government to clean them out and dismantle them in an orderly fashion costing the American taxpayers nothing at all rather then tens of trillions in additional taxes.

The reason the right thing didn't happen is because the crooks pulled an inside job. Some of them have mixed feelings about it and have paid some lip-service to doing better going forward, but that's not nearly good enough.

I like government, even love government — good government. I hate bad government, and we have very, very bad government right now.

Everything that should have been done still needs doing. There is no going forward without fixing what's wrong, and there's no fixing what's wrong by ignoring it the way Barack Obama has advocated.

There were some bad regulations back in the 1970's, but simply undoing all the regulations that were undone was a scam on the people by bought-off politicians doing the bidding of economic royalists who have been busy turning America and the globe into a giant fiefdom.

Go back to the end of 2008, and nationalize all the bankrupt banksters. Clean economic house. Set things right. Completely undo all the austerity measures that are very, very stupid.

There are more things we could do. Nationalize the Fed. Issue interest- and tax-free United States Notes. Use those to completely pay off the National Debt. Put everyone who needs work, and wants work, to work via federal works programs.

There are plenty of other things that could be done, and none of them need result in any booms and busts or inflation or deflation. The money supply could be, and should be, pegged exactly to real productivity, real growth. We have the computer networking and number-crunching power to do it in real-time.

Let's stop being slow and stupid and lazy, shall we? The solutions are easy. All they take is making the decisions.

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  • Tom Usher

    About Tom Usher

    Employment: 2008 - present, website developer and writer. 2015 - present, insurance broker. Education: Arizona State University, Bachelor of Science in Political Science. City University of Seattle, graduate studies in Public Administration. Volunteerism: 2007 - present, president of the Real Liberal Christian Church and Christian Commons Project.
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