Devvy: Bailouts, the Wound that Will Keep On Hemorrhaging

From: News with Views

No one knows what to do. We are in new territory here. This is a different game. We’re not here playing soccer, basketball or football, this is a new game and we’re going to have to figure out how to do it.” Sen. Harry Reid [D-NV], September 17, 2008

It is exactly that level of ignorance in the U.S. Congress for decades that has brought America to the brink of financial ruin. William Greider, author of Secrets of the Temple, said the same thing during his testimony, House Banking Committee, October 7, 1993:

Otherwise confident and intelligent people including members of Congress – defer to the Fed’s wisdom mainly because they do not understand it….The only players who are left out of this conversation are the American people and, to a large extent their elected representatives. Instead, they are provided a frustrating stream of evasive euphemisms and opaque jargon and platitudinous generalities and, sometimes, even downright deception. As more than one Federal Reserve governor confided to me, it would be very difficult – perhaps impossible – for the Fed to have an honest discussion of monetary policy with Congress or the public because the level of ignorance is so profound.”

Clearly, we have made huge strides in educating our fellow Americans about fiat currency and sound monetary policy, but without real newspapers in this country, most Americans don’t know the truth. It’s also crystal clear that members of Congress, with few exceptions, are clue less. I think it’s safe to say that many of those who do know, don’t have the courage to go up against the most powerful money cartels in the world; the rest are simply crooks who profit from a corrupted monetary system. Over the decades, Congress has been perfectly willing to forfeit their authority….

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