Subject opinion to coercion: whom will you make your inquisitors? Fallible men, governed by bad passions, by private as well as public reasons. And why subject it to coercion? To produce uniformity? But is uniformity of opinion desirable? No more than of face and stature.

- Thomas Jefferson

Buy A Bank, FREE!

Do not have money to make your mortgage payment? Do not have money to pay your bills? It could help if you were to buy something for $5,600. How? We know you do not have the money and no one will not loan it to you, so how about this: the government will directly loan to you $7,700 dollars. Since what you are buying only cost $5,600 you will be able to pocket $2,100 and have purchased an asset...all without having to raise money. Now you can pay your mortgage and your bills! What a deal. And the government is providing this program!

You are thinking, "How ridiculous, the government is not going to give me $7,700 to buy something for $5,600." Well, you are right because you do not know the right people and you are small potatoes trying to take responsibility for your finances, but if you were a bank they would give you $7,700,000,000 to use to purchase another bank for $5,600,000,000, leaving you with $2,100,000,000 extra to pay some bills, salaries, meal expenses, travel, etc. (Yes, that is more than $2 billion of your dollars being dispersed.)

Pittsburgh-based PNC would buy National City with about $5.2 billion of its shares, and $384 million of cash payable to some owners of warrants. PNC plans to sell $7.7 billion of preferred shares and warrants to the U.S. Treasury under the Troubled Assets Relief Program.
[Read]

Your government has been corrupted, and they know you will not do a thing about it... They give you bread crumbs and tell you to be happy you are not starving, while they feast on your labor.

posted at 11:36:43 on 10/24/08 by clearpolitics - Category: Economics - [Permalink]

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The Gross National Debt