Andrew Napolitano says on Fox Business that the government has broken the supreme law of the land by illegally taking money from American citizens and giving it to private interest.
“It [The Constitution] only lets the government spend money for the general welfare. Which is defined as something everybody can use. A bridge, a hospital, a school, a roadway.” Napolitano says,“The government confiscated private property without compensating you. The Constitution prohibits that.”
Judge Napolitano goes on to compare the illegal bailout of last week to Hugo Chavez in Venezuela who supports National Socialism.
Only last year the same media talking heads and US politicians who supported the bailout nationalization of private companies were complaining about Chavez when he nationalized an oil company.
While I personally despise Socialism at least the people of Venezuela benefited from what Chavez did as you can buy a gallon of gasoline for under $.30 there.
The type of socialism passed in the US Congress last week will only benefit wealthy corporate heads, banks and the politicians who appropriated stole the money. While causing irreparable damage to the real economy and US citizens.
Video: Judge Napolitano of Fox Business
January 2007
Neil Cavuto says to Bush, “Hugo Chavez of Venezuela is going to be taking over a lot of business’ by the end of the week. He will effectively become a dictator.”
Bush says, “My worry is the nationalization of industry will make it harder for the Venezuelan people to be lifted out of poverty.”
Video: Bush with Fox’s Neil Cavuto saying nationalizing business undermines democracy. No kidding!
Steve Forbes and Peter Schiff are quests of Fox Business to discuss the devaluation of the dollar.
Forbes says, “We certainly deserve a junk bond rating in the way the government has treated the dollar. No great country should have a junk currency. And the policy of the Treasury Dept. … has been to lower the value of the dollar on the mistaken theory it strengthens the economy by boosting exports.”
While Steve Forbes gets this issue right he is absolutely wrong on every other aspect of the economy. Forbes believes that socialistic controls on the market can manipulate outcomes as he supports government intervention just a slightly different approach than the current one.
As usual Peter Schiff tells the Fox Business audience the way it really is.
Fox Business has Rep. Ron Paul (R-TX) on to talk about the failed trillion dollar bailout of the power elite and their banker masters.
Mr. Paul asks how do you buy up illiquid equities with debt? He debunks the myth of “recapitalization” when he tells Fox Business “Capital in a capitalist system comes from saving. We have “0″ savings.”
Congressman Paul and others have pointed out that the markets have been responding negatively to the socializing of the financial systems.
Paul is asked is there a conspiracy to take over the banks? Paul says, “No, they just have a plan. They believe in Socialism and I don’t.”
Congressman Paul is concerned that over the weekend plans will be made for a “One World Central Bank.”
“They build up the panic. They build up the fear. To do terrible things. They do it in foreign policy. They do after 9/11. To undermine our system. To undermine our freedom. And know they are going to take over all of private ownership.” Paul Said.
He ends by saying “they have no idea how a capitalist system is supposed to work.”
Mr. Paul’s knows they do know how a capitalist system is supposed to work but is too polite to just call these traitors out for what they are - Trotskyite Communist.
Get prepared for a One World Banking Order under a Communist style system. Because it’s not coming - it’s here.
Legendary investor Jim Rogers is asked on CNBC, “Jim why do you think the equity markets are not responding to the stabilization plans being introduced around the world?”
Jim Rogers replies, “Because they are absurd. Jeff, if I came on your program every week for a hundred weeks and every thing I said was wrong. Would you keep me on your show? Would you have any confidence in me? Would you listen to me? Mr. Paulson, Mr. Bernanke every week they have been dead wrong. Why would you listen to them? I would not listen to them.”
CNBC talking head, Jeff says, “Jim, we are where we are.”
Was the teleprompter broke?
Jim Rogers is generally pi$$ed off that 29 year olds on Wall Street driving Maseratis get bailed out by tax payers saying many are incompetent and some crooks. He says they should have been allowed to go bankrupt.
Jim’s advice for G7 leaders, “What they need to do is go to the bar and have a beer and leave the rest of us alone. Let the people who are sound succeed and let the other people fail.”
According to Rogers the markets actually hate the government intervention and this is why stock markets are plunging around the world. “they are unleashing an inflationary holocaust. Because they [government] does not know what else to do. They are making mistakes.”
More likely they know exactly what they are doing and will use this crisis to consolidate wealth and power.
You can sense the frustration of Jim Rogers having to speak to so called experts who have no real understanding of the financial markets or economic theory. This is what media consolidation gets us, actors reading scripts for the bankers and corporate 100 who we just bailed out with our own futures.
With precise coordination the Federal Reserve, European Central Bank, Bank of England, Bank of Canada, ECB, and Sweden’s Riksbank all cut the base lending rate 50 basis points or half of one percent. China followed by lowering it’s rate by 27 basis points.
This was done in response to what world bankers are calling, “the worst financial crisis since the Great Depression.”
Amazingly many people will herald this as good news for the economy not fully realizing the implications of such a move. But it is the loose credit markets that have created the borrowing/consumption bonanza resulting in massive debt and trade imbalances.
These factors tied to a fiat money supply were the currency has no intrinsic value but rather a note of debt to be payed off with future taxes (your labor and production) you get inflation.
This conspiracy by the worlds central banks to continually devalue the currency through over printing will result in hyperinflation and an interruption in the supply of real goods.
Every time there is a rate cut just image getting a pay cut because that is the net result of dollar devaluation.
It’s a double tax, first you are bound to pay ever increasing federal income taxes on your production and then you pay a hidden inflation tax on your consumption.
This disastrous monetary policy can only lead to a world wide economic meltdown as people will not provide goods and services for a worthless paper note.
The neocon White House has spent your future and the future of your children locking you into a cycle of financial servitude to the state. The increased national debt, what you owe in taxes has grown so much that the National Debt Clock has run out of digits.
A new clock is be manufactured with 2 additional spaces for the mounting debt being created by a ruling elite intent of destroying America’s future.
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