by Jake, the Champion of the Constitution
Thursday, July 24, 2008
The 600-page mega-bill includes:
1) Fannie Mae/Freddie Mac Bailout: Granted Treasury an unlimited line of credit to allowed to buy all housing securities from these two private companies. Ron explains that Treasury will exchange Treasury Bills for the mortgage-backed securities, so these securities will now back the dollar – which will debase the dollar which debt that no one wants to buy, so the dollar will drop.
2) National Debt Expansion: Congress approved to increase the national debt by $0.8 Trillion
3) Police State Expansion: All mortgage brokers must now get fingerprinted. (As if this caused the housing crisis!)
And the winner is…
4) Police State Expansion: All personal credit card transactions will now be reported to the IRS. Just swell.
Feel like casting off some chains? Try registering at www.campaignforliberty.com. Contact your Representative and especially your Senators (who will vote next) by going to this bill at www.downsizedc.org, the Read the Bills Act that requires Congress to read to the floor each bill before it is voted on. A 600-page document would probably stymie even the MicroMachines Man for a couple hours. If anyone thinks their Representative is actually reading all the bills they vote on, I have some subprime mortgages in Las Vegas I can sell you.
As the dollar drops, the risks of hyperinflation will increase as described below:
The 3 Trillion Dollar Government: Hyperinflation in America? (Part 1/2)
Published: July 13, 2008
A Prelude. Interesting statistics on the Federal Government Taxation and Deficit, the Trade Deficit, the National Debt, and more
Calling All Wheelbarrows: Hyperinflation in America? (Part 2/2)
Published: July 16, 2008
“Let it not be said that No One Cared, that No One Objected, once it is realized that our Liberties and our Wealth are in Jeopardy.” – Dr. Ron Paul