Monday, November 30, 2009

Notice neither Democrats nor Republicans are calling to repeal Bush's credit card legislation?

Wouldn't more consumers going out an running up their credit cards help our consumer based economy?

After all, the Federal Reserve Notes we are all spending were created out of thin air anyway. Wouldn't it make good sense to let Americans declare bankruptcy and have all their unsecured credit debt wiped clean so they can go out and create more massive credit card debt?

With all the whining about how horrible the economy is, why is it that a simple action such as repealing legislation that keeps people in debt isn't being debated into extinction?

The banks that created the money out thin air to loan out could just as easily create more money out of thin air to loan out again. Wouldn't that be easier?

Or, does the U.S. Politician, who received $170 billion from the credit card companies in "campaign donations" to pass credit card legislation, just want the dumb American tax payer, whose paycheck has already declined in value as much as 90% due to inflation, to be on a perpetual payment plan for the duration of their life?

What am I talking about?

The Federal Reserve, which is a private bank that creates funny money out of thin air in the first place gives money funny money to the big banks at a very low interest rate. The big bank then keeps that money on the books for a few months, and after a few months the bank then does what's called "fractional reserve banking," which is the process by which banks create money out of thin air.

It used to be done on a 10 to 1 ratio. Meaning, for every $1 on deposit, the bank could loan out $10, but now that ratio is more like 30 to 1. [from what I've heard]

So the credit card companies [banks] are loaning 10 to 30 times more money than they were given almost for free from the Federal Reserve, and they are charging loan shark interest rates of 30% on money that they created out of thin air? However, this was not good enough for the credit card company.

In other words, the banks gave Congress $170 million in campaign donations [not to be mistaken for bribes] to close a loophole that allowed an American taxpayer to get out of paying 30% interest on money that was created out of thin air.

And now, in case you haven't noticed, the U.S. Economy is crashing down all around you with people losing their jobs and their homes like crazy.

So keep this information in mind while I pose a series of questions:

Does it seem like the Washington Politician doesn't do anything without corporate campaign contributions, and really just does not give a fuck about the American taxpayer anymore?

Does it seem like the American People are just repeatedly getting fucked by corporate banking assholes who are given enormous power and allowed to use Washington like a giant dildo to fuck Americans over?

Is it just me, or does it seem like the time has come to fire every single member of Congress and institute a new government with new rules, which protect the American taxpayer from lying thieving banker assholes?

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