Bailout - The Real Reason Paulson Is Crying "Wolf"
If one thinks about it, the whole thing we've been through with the "bailout vote" is a bunch of BS.
Paulson has created an atmosphere of "urgency" to pass his "bailout", or else we'll have "dire consequences". His "spokesperson has stated that the $700 Billion number is not tied to any data - they just picked a number that was "high enough".
The whole thing about $700 Billion "blank check" is a smoke screen. We have generated more than that amount in the last couple of weeks without asking Congress. So what's the big deal? I suspect that it isn't the money, which they create anyway, but the provision of "no recourse" by the legislature or the courts - it's IMMUNITY. That's the main part of the result that he wants.
It's not over! Hillary and Kerry are also "working on it" in the Senate.
Whatever kind of bailout or "stabilization" is eventually passed, what we need to let our legislators know is that we will NOT GRANT IMMUNITY FROM CRIMINAL ACTIONS, PERIOD.
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"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
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government of the people, by the people, for the people
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More from Jim Sinclair at jsmineset.com today
"Dear Friends,
Please stop being spectators and put an end to financial fabrication!
Get involved in the Wall Street Bailout Bill.
If this bill is passed financial institutions will be freed from fair accounting rules that require them to reveal the true market value of the value-less paper they hold. That would allow them to continue lying about their solvency.
You simply must not let that happen. It legislates financial fabrication!
This is the first time in my 67 years that legislators are listening to the public, so please tell them what you want on this bill, whether it be yes or no, but do not support lying as an economic tool.
Have we not already had ENOUGH of fabricated, spun, mistruths?
Vote No against a change in Fair Accounting Rules. Vote any way you wish on the rest of this meaningless exercise."
Heard today
we guaranteed these loans to other countries back in the 90's. Now they have come a knocking. We are about to pay for every campaign contribution back that these banks gave to these corrupt politicians. Yes, I think the money may be the added bonus for them.
Those who expect to reap the blessings of freedom must. like men, undergo the fatigue of supporting it.-Thomas Paine
The R3volution requires action, not observation!!!!
I tend to agree, it's the power, authority & law Paulson wants.
The Fed has already been injecting money. Paulson wants his section 8 clause that says he cannot be challenged in any court of law.
Ron Paul's Convention Speech
Ron Paul's Convention Speech
Everybody I talk to says,
That the perpetrators should be in jail, this is the main issue here!
"The Constitution was written not to regulate you in any way, the purpose of the Constitution is to restrain the government." Ron Paul.
http://www.youtube.com/watch?v=tx4BrITIcB4
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https://www.youtube.com/watch?v=khDgz0rODZU&feature=g-upl
Interesting feedback a la Jim Sinclair
We are apt to shut our eyes against a painful truth... For my part, I am willing to know the whole truth; to know the worst; and to provide for it. --Patrick Henry
Posted On: Tuesday, September 30, 2008, 1:37:00 PM EST
Hourly Action In Gold From Trader Dan
Author: Dan Norcini
Click chart to enlarge today’s 12 hour action in gold in PDF format as of 12:30 pm CDT with commentary from Trader Dan Norcini.
Posted On: Tuesday, September 30, 2008, 12:05:00 PM EST
The Madness Of The Crowd
Author: Jim Sinclair
Dear CIGAs,
WAKE UP.
In this crisis $250 billion is chump change. As a matter of fact, $750 billion is chump change.
The "Madness of the Crowd" does not recognize that the Fed lent $1.25 trillion last week. These loans were not to strong, but ailing financial entities.
Surprise, surprise, the $1.25 trillion in one week is much larger than $250 or $750 billion.
Stay the course and ignore the shorts, or if u can't stand the heat in the gold kitchen as Harry Truman kind of said, then please leave immediately!
"The ECB is no longer able to inject liquidity because the money is just coming back to them again. This is extremely serious. If monetary policy is no longer working, there is a risk that the whole system will blow up in days," he said.
Banking crash hits Europe as ECB loses traction
By Ambrose Evans-Pritchard
Last Updated: 10:37AM BST 30 Sep 2008
The Dutch-Belgian bank Fortis, Britain's Bradford and Bingley, and Iceland's Glitnir, were all partially or fully nationalized after failing to roll-over debts in the short-term money markets, while the French state pledged support for the Franco-Belgian lender Dexia after the share price collapsed on reports of a capital shortage.
"The European financial sector is on trial: we have to support our banks." said French President Nicolas Sarkozy. He has reportedly ordered the state investment arm Caisse Des Depots to shore up Dexia, even though the bank is based in Belgium.
Germany's Hypo Real Estate, a commercial property lender, was rescued with a €35bn lifeline from a consortium of local banks. The lender has $560bn in liabilities, almost as much as Lehman Brothers.
Hypo Real's share price crashed 74pc, setting off a masse exodus from financial stocks in Frankfurt. Commerzbank fell 23pc and Aareal Bank was off 43pc.
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