Italics re mine – Frank Trejo – Yesterday’s News Today.
The following comes from the AMERICAN FREE PRESS – 712-2010. It written by Christopher J. Petherick –www.brandywinehouse.us
FORMER FED CHAIRMAN – U.S HAS HIT BORROWING LIMIT
Former top central banker Alan Greenspan believes the U.S. is fast approaching the limit on its borrowing capacity. “Very soon,” he said, Treasury officials will have to price bonds higher in order to woo investors. The end result will be that taxpayers will be stuck with even more debt – as if $42,000 for every man, woman and child in this country is not enough.
Washington should take a lesson from Paris. Officials there announced in early June that they would be selling off “excess” properties the French government no longer needs in order to keep the government in business. The central government was offering rock-bottom prices for some 1,700 properties across France. French Budget Minister Francois Baroin said the properties were too expensive for the government to maintain any longer. They included landmarks and historic buildings, such as a chateau in the scenic town of Thonon-les-Bains in the French Alps on Lake Geneva
There is no doubt many bankers and speculators – the very people who stuck France with incredible debts in the first place – will be lining up to get their own piece of French history at the fire sale. Is this the future of the United States?
Not only do thieves (Govt.) in Washington D.C. end up owning businesses in the private sector; bailing out t banks in and out of this country, kees funding Freddie Mac and Fannie Mae who were involved in the financial crisis, allow the same people in Congress responsible for the crisis to maintain power, and to top it all, when Fed Chair Bernanke was asked in a committee meeting where’d the money go – he said he didn’t know. Folks, we are being raped of billion upon billions of dollars and we have a country of people indifferent to theft by the U.S. Congress . . . article continues.
Greenspan did not exactly say that Washington will soon be forced to pawn historic treasures to the plutocracy (power of the wealthy) in order to keep the country afloat, but there is no doubt it could come to that if Obama and company continue on their multitrillion-dollar borrowing binge. Still, what Greenspan did say is prescient, considering he is the former head of the privately-owned and controlled “Federal Reserve.”
According to the latest figures, the Fed holds 49.37 per cent of the U.S. national debt, which officially now totals a little over $13 trillion. (When Pinocchio took over the debt was $10 trillion) The next largest portion is owned by “international investors,” who hold 27.90 percent of the U.S. debt. The remaining 22.73 percent is owned by state and local governments, insurance companies, savings bond holders and other smaller investors.
In a commentary published recently in the Wall Street Journal, Greenspan painted a bleak picture: “The federal government is currently saddles with commitments for the next three decades that it will be unable to meet in real terms.” The only way Washington will be able to keep from going under, he said, is to ramp up borrowing.
But the government will not be able to borrow forever, he added. Eventually, investors are going to demand more and more from government, which will translate into higher rates. Of course, future generations of Americans will be the ones left holding the empty bag. Ironically, polls show that many Americans inside and outside Washington still believe the country will be able to borrow forever without ever having to face financial consequences. Greenspan addressed this, writing: “perceptions of a large U.S. borrowing capacity are misleading.”
One of the main reasons why there is still demand for the official U.S. debt is because other economies in Europe and Asia are supposedly doing so much worse than the U.S. Greenspan believes that could change overnight. America could become the next Greece, it seems. What’s Greenspan’s solution? “The United States, and most of the developed world, is in need of a tectonic shift in fiscal policy,” Greenspan said.
A better solution, that would really anger the bankers, would be for the Treasury to print its own currency and decree it equivalent to Federal Reserve notes. Main Street would then have the benefits of both a stable, sovereign currency and no interest payments to make to private banks. . .end of article.
The International Bankers (who own the Federal Reserve) have the whole world enslaved. Any president who would dare authorize the printing of U.S. notes (non-interest bearing) would be assassinated just like Lincoln and Kennedy. What Hitler did was kick the bankers out and quickly surrounded himself with the military for protection. He was able to raise a powerful army because he didn’t have to pay interest to bankers.
What the criminals in Congress and White House did in passing the Federal Reserve Act was criminal then and still is. I’ve cited a law that says any Act passed by government not in harmony with what the Constitution says is null and void. Your Constitution says that only Congress can coin money and regulate the value thereof. The only force right now in our country that would do anything about this is the Tea-Party People. I include Representative Ron Paul and hopefully his son – if he becomes a senator.
Several years ago during the Clinton administration the Chaoscrats threatened Republicans to shut down government. Not recalling the issue (too lazy to research) the cowards in the GOP gave in and high-tailed like they always do. What the GOP needs are conservative black and brown brothers – like yours truly – who come from the streets but believe in law and order and know how to kick ass.
What the Republican cowards in the Congress ought to do is boycott the U.S. Congress. They are aiding and abetting criminal behavior in OUR CONGRESS! SHUT IT DOWN! Bring it to the attention of the public. Warn the American people of the imminent danger our country is in. We have people in Washington D.C. who are thrashing the Constitution and intentionally spending out of control to create conditions that’ll worsen the already crisis. This is being done for a complete government take over. And I call that communism!
REPUBLICANS! SHUT-DOWN THE CONGRESS!. . .
I love you, America
I AM SORRY I HAVE ONLY ONE BAT TO SWING FOR MY COUNTRY!
e-mail franktrejo@hotmail.com
