We are a species with persistent amnesia
I don't know about getting rid of the Federal government, but getting rid of the Federal Reserve Bank is imperative. There is a reason why Congress should coin money backed by a standard. And you'll see that reason in the coming month's, when the 850+ Billion is gone and the value of the dollar sinks like a lead weight. The problem isn't fixed. The loans are still worthless. And you will see this in the stock market very very soon when everyone buys gold because our fiat paper printed by a private company is deemed worthless.
For the immediate issue that we face, you can trace it back to Jimmy Carter's FHA and Bill Clinton's Community Reinvestment Act. It introduced limitless money into a free market system. This isn't blame. This is fact, and any President can do this when they ignore the Constitution and economic law repeatedly.
First, minorities that could not afford the loans were given access to laons. Then, it was expanded to everyone who could not afford the loans. And so now, we(the government) are buying all of the loans that people could not afford. The problem is that when you give away money, items tend to increase in cost- because the value of the dollar becomes worthless. Which means that now A) The value of the property is too high B) Nobody was able to afford them before and nobody will be able to afford them now.
Normal market corrections would have turned that 2 acre one bedroom house into a $150,000 home or 3X the average salary of an individual. But, with this current and previous gov't/federal reserve intervention, the property will be held at $400,000, which means that it will not be purchased and the housing bubble will burst yet again. But now it will burst with an additional 1.5 Trillion in debt on top of our existing debt of 11 Trillion.
The 850 Billion doled out last week was just to buy worthless loans. Taken all together, we have spent 1.5 Trillion buying/bailing out companies and purchases fiat paper loans on property worth 1/3 that.
So, from my point of view, this vid reel is old news for me. My great^4 uncle actually is Andrew Jackson. I'm his brother's decendant. And I'm a Libertarian by party. Although, the Constitution party and Libertarian parties are fairly close in comprehension of law. I opted for Libertarian due to their footprint in numbers and grasp of major issues.
So, this has been coming for quite awhile. A literal old cliche, I know. But this is just the first bump in the road.
The consequences of this will cause a retraction of our military presence worldwide, make purchasing items greater than 300 miles away unsustainable, collapse our ability to dole out 800 Billion a year to other countries for oil, and ultimately will make family and friends you can trust with your life more important than gold bullion. At that point, the most important currency will be water and food, and to a lesser degree, ammunition. And before that point, you will become intimately familiar with how lethal non-lethal weapons can be.
That's a taster of the future. I hope you enjoyed my little sermon on the mount. Take care.
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