Posts Tagged ‘$700 Billion Bailout Bill’

Free-Market Capitalism Is Dead: The Latest Collectivist Wail

October 16, 2008

The latest wail put out by all the Socialist pundits, who put themselves forward to the public as analysts of the markets, is that the current financial crisis shows the dangers of unregulated, free-market capitalism, and it’s very necessary, perhaps on a world-wide scale, to impose regulations and laws that will insure that this type of thing never happens again. For the 50th time, the backers of fiat currency and socialist-hobbled capitalism (as we see in the US and Britain), are telling us: we must have reform, then it will be “never again”, again. They are going to make sure that Socialism doesn’t fail the 51st time around. Sure.

First of all, let’s dispense with the myth that we have Free-Market Capitalism in America. In point of fact, we have nothing of the kind. Since the creation of the Federal Reserve by Wilson in 1913, our credit creation and interest rates have been at the whim of 10 men, many of whom were, are, or had been closely ligatured to the very industry whose product (interest rates) they were regulating. Obviously, when an industry-insider group has such enormous economic power, which should be instead in the hands of the capital markets,  there was and is a wide field for wild abuse, as both Presidents Jefferson and Jackson realized and warned against five- and four-score earlier.

Then there was War-Criminal Nixon’s abandonment of the Bretton-Woods Agreement, essentially creating a non-gold backed fiat currency out of the Dollar in one fell swoop. One of the greatest economic crimes in history. Now, when a currency is no longer backed by any kind of commodity basis, and only on the “Full Faith and Credit” of some political entity, then watch out. This ending of the gold link had been preceded by fellow War-Criminal Johnson’s abandoning of the Federal Reserve Note as a Silver Certificate around 1964. How neatly these two matched their foreign War Crimes with Crimes against the Constitution and American Capitalism!

Moreover, Federal Bank Deposit Insurance, while it seems like a good idea to the man in the street, insures the kind of “moral hazard” which has brought the banking system to its knees in the current panic. It took decades, but it finally led to wild and unscrupulous lending because the banks knew the mountebanks in Congress would bail them out if the Piper ever demanded to be paid for playing all those tunes all these many years. And now the Piper wants his fare money back to Glasgow, and enough for a wee dram or two with the lads, and he’ll nae brook delay.

And finally, we have the catastrophe of Congress bankrupting America in one fell swoop, creating a quarter as much debt in a few weeks as was created in the first 230 years of the Republic, just to save their political skins, and it is working. The ones who passed this give-away to the corporate wealthy are going to get re-elected and sweep into power, both in the legislative and executive branches, so that it will be a piece of cake for the Collectivists and Keynesian Socialists to completely smother the last vestiges of Free-Market Capitalism.

So when you hear all these “financial pundits” and Congressmen calling for more “reform and regulation”, and how horrible dog-eat-dog capitalism and free-market competition is, know you that they are tightening the last screws on the coffin-lid of Free-Market Capitalism, and they intend to bury it, along with Human Freedom and Individual Rights, in the Potter’s Field of Socialism.

However, coffin-lid screws have a way of working themselves loose and sometimes breaking free every 2 and 4 years in America. Just wait for the elections of 2010. Oh boy.

Hoooooooooooooooooooooooooooooooooooooooooowwwwwwww! — Silverwolf

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Democrats Blow Election Supporting Bailout Bill

October 4, 2008

The deeply immoral vote today, in which the Democrats and assorted Republican Quislings kneed the public in the groin and voted to transfer $700 Billion of the public’s wealth to the friends of the Liberal Democrats on Wall Street, will not be soon forgotten by the voting public. The taxpayers of America are angry, as they start to realise that not only are they being robbed through the tax system, but also through the inflationary system, a phenomenon they are just starting to remember after a 25-year hiatus. And today they saw the Democrats in large part stand shoulder to shoulder with President Bush and Treasury Czar Paulson to rob the American taxpayer and his grandchildren of the just fruits of their labor. Since McCain voted with them, they may well yet win the presidency, but when the public sees how many Liberal and mainline Democratic legislators voted for this Welfare for the Rich scheme at the expense of the poor, their anger will cause them to vote for the many Republicans and few Democrats who voted the moral “No” to this graft in the upcoming Congressional elections. Obama may well be President, but the Democrats who are so sure the bad economy will sweep them to power may be laughing out of the other side of their face when the returns come in. The public, with only a few weeks between this vote and the election, will not forget who stabbed them in the back, financially speaking, and today’s post announcement market reaction, in which the Dow gained over 200 points initially but finished down 150 shows that their shoddy panacea is perceived just as that by the vast bi-partisan investing community.

You can’t fool all of the people all of the time. Democrats, you blew it!

Hooooooooooooooooooooooooooooooooowwwwwwwwwwwwwwwwwwwwwwwww! — Silverwolf

Sept. 25, 2008, Communists Claim Victory in Takeover of America: A Post-Grave Interview With Comrade Stalin, Truman and FDR

September 25, 2008

(Libertarian News Network- Sept.25, 2008): In an exclusive and highly unusual interview, Silverwolf was able to gain the cooperation of the late corpse of Joseph Stalin for his views on today’s agreement on passage of the $700 Billion Bailout Bill that in effect turns America into a Socialist society, from a Free-Market society, though the process has been ongoing since 1913. He was also fortunate to secure, for a fee, the concomitant presence of the ghosts of former Presidents Truman and FDR, who graciously consented to throw their two (copper) cents worth in. What follows is a Historic First.

SILVERWOLF: Gentlemen, I … (Snarling expression on Stalin’s face). Oh sorry Marshall, I had no intention in including you in the “Gentlemen” appelation. (Stalin looks relieved). I… don’t know where to begin. Today’s Bailout Bill agreement, thrown in the teeth of the staunch opposition from the American Public, must give you a great sense of accomplishment, Comrade Stalin.

STALIN: Yes, it is the ultimate Communist victory over the American Free-Enterprise System. We finally did it, as we predicted! The Comrades worked long and hard for this day, and I wish I could have lived to see it, but unfortunately I succumbed to those capitalist temptations, tobacco and liquor.

SILVERWOLF: Yes, those two take out a lot of ’em don’t they.

STALIN: However, I must say that this is the best I’ve felt since that august August day, when your great president, Richard Nixon, took America off the gold standard and declared Bretton-Woods defacto dead. That was one of my best days in the grave, I can tell you.

SILVERWOLF: Yes, it must be tedious for you down there, with not much to do for eternity. Almost as boring as being in the Gulag Archipelago.

STALIN: I suppose, though I wouldn’t know from personal experience.

SILVERWOLF: Yes, well, now I’d like to turn to our other post-moribund guests, former Presidents Harry Truman and FDR.

FDR: You can call me Frank, Silverwolf, to save calories.

SILVERWOLF: Haha. I see you remember I am a Frugarian. “Waste not want not.”

FDR: Yes. We respect all men’s religions, bar the Capitalist.

TRUMAN: (a bit shocked) But you’re not against the small businessman, are you Frank?

FDR: (frigidly to Truman) Please address me in future as Franklin, Mr. Truman.

TRUMAN: Sorry. Now look Silverwolf, were tired of you going around calling us fellers who’ve worked in the private sector, who’ve even been small businessman themselves, barbers and haberdashers, and whatnot — calling us Socialists and Communists. That’s irresponsible.

SILVERWOLF: But you believe in income tax rates of over 70% for some people.

TRUMAN: Well, uh, … well, … uh, … yes, that is an accurate statement, though it don’t apply to most folks, remember that. The vast majority is protected.

SILVERWOLF: And you and Frank agree on a central bank, the Federal Reserve, that can create credit at will, or money out of thin air and pass the debt burden on to the children of the future.

FDR and TRUMAN (shocked and in unison): Of course!

SILVERWOLF: And Federal Deposit Insurance, so that the reckless banks can attract lots of capital, and if they go belly up, the taxpayer should foot the bill.

FDR: It’s only fair that those of us more fortunate should help our local banker if he gets into trouble. That’s just being neighborly.

SILVERWOLF: And you also believe in wage and price supports, so that the price of commodities never comes down for the poor, and the worst worker is unable to obtain employment at any level, so that he’s forced onto welfare to survive.

FDR: High food prices give the poor an incentive to keep working. And the minimum wage means that if a man can bribe his way into a job, he enters an elite when compared to the homeless and the unemployable at the minimum wage. And being in that elite gives a man a sense of dignity, of pride, of personal self-worth. And plowing food into the ground helps all the other farmers get a better price for there crops. That’s called sharing.

TRUMAN: You’ve got it right, Mr. Roosevelt.

FDR: (frigidly) Please address me in future as President Roosevelt.

TRUMAN: OK, but only if you address me as President Truman.

FDR: (shocked) What! I Franklin Delano Roosevelt, scion of Theodore Roosevelt’s blood, should address a Missouri haberdasher as… Sorry…  Lost it there… Not used to being out of the grave…Howzabout I just call you Harry.

SILVERWOLF: Well, anyway, I’m sure you two gentlemen are thrilled that your program of the New Deal, which I admit to having scoffingly referred to in the past as the “Raw Deal”,  with government ultimately taking over every aspect of the economy, from printing the money, to running the banks and insurance companies, and socializing any losses anywhere in the system, has finally triumphed over the American Free-Market System.

FDR: And good riddance. Although, remember that in theory were for the Free Market.

TRUMAN: Yes, of course. No disagreement there.

SILVERWOLF: Now I’d just like to ask your opinion of some of the more incisive and vocal critics of this plan, like Congressman Ron Paul of Texas, who also sits on the House Finance Committee…

STALIN: I am sorry Silverwolf,you must excuse us but our time is up, and the interview over. It’s well past the hour when I and our guests adjourn to the bar for some vodka, and Wild Turkey.

TRUMAN: I brought my own bottle, Papa Joe. And Margaret will be singing.

FDR: (aside) Thank heaven I brought my earplugs. … Let’s go. I love caviar, especially when it’s being paid for by the Kulaks, and I hear the Kremlin is catering the post-interview reception.

Silverwolf: Well, we’ll sign-off here.

Hoooooooooooooooooooooooooooooooooooooooooooowwwwwwwwwwwwww — Silverwolf