Finally, after a year of delays, the Treasury secretary and the Fed chairman have agreed about the need for a new insolvency regime for systemically important financial institutions (bank holding companies and non-bank financial institutions). This new insolvency regime will allow government to take over in an orderly way–as opposed to a disorderly Lehman-like bankruptcy–insolvent systemically important financial institutions.
For the entire article click here.
i’m not quite sure the average American citizen realizes how important the U.S. Government purchasing some national banks has on the future of the dollar and our society. Forbes.com has written an article covering the U.S. Government’s plan to purchase partial ownership in some of our U.S. banks with this new approved ‘700 Billion Dollar Rescue Bill’ (by the way, this bill no less than a week ago was called the ‘Wallstreet Bailout’ and got denied) to help rebuild and restore our economy. Not only have the Federal Reserve been prompted to drop the Federal Interest Rate a half point to 1.5%, the lowest in 4 years, but other countries in response to Ben Bernanke, the Federal Reserve chairman, have done the same.
i hate to say it folks, but it looks to me like we’re headed for a ONE WORLD GOVERNMENT. i’m not really big on conspiracy theories but i am big on the truth. In order for our country to compete with this ever-changing global economy, we’re going to have to take some clues from the globe. One of them being to unify our continent, bringing forth the often denied and speculative currency of the North American Union, the Amero.
What’s even more interesting is that other countries like Great Britain have nationalized their banks and we (USA) couldn’t even follow suit if we wanted to which is what our country’s fathers should’ve considered in the first place. But because we borrow money from a privately owned and operated company, the Federal Reserve, we can no longer run or operate this country without them. They loan the U.S. Government money with interest and to pay back that loan the U.S. Government borrows again from the Federal Reserve with an even higher interest rate which is paid for by the Federal Income Tax (which by law, is unconstitutional) which garnishes 4 months of the average American workers’ annual wages.
We (USA) were placed in this position when, in 1943, the gold standard was abolished meaning it no longer backed our USD. It became a Federal Reserve Note, which is legal tender for all debts public or private. Basically, turning the United States into Disneyland and the USD into Mickey Mouse money only good if used on the premises.
i urge and plead that you take a real close look at this article and pay attention to what’s really going on. And if you don’t believe me, GOOD, i hope that makes you search for the truth about YOUR money on your own. Literally, our future depends on it!
Guess Ross Perot was right in his 1992 campaign for president. He wasn’t a mogul for nothing.
source: Forbes.com
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