ok, i said this would happen months ago, see my post from earlier.  the Fed and Federal government will bail out the banks, mortgage companies, bond insurers…who’s next? it appears free markets have been laid to rest. what we see is a nationalisation of the banking industry..aka more central planning. what we see happening is “socialism for the rich”

 so they didnt use the word “taxpayer bailout” instead they used financial engineering as a side step. first, the Fed is a lender of last resort and its main goal is to maintain low inflation and high employment. the recent $200 billion offer to banks  is a transfer of wealth from the poor and middle class to the very wealthy. when the Fed allowed banks to offer mortgage backed securities as collateral and the Fed traded quality treasury notes in essence the Fed took bad worthless debt and gave the banks clean cash. now when the mortgage back securities continue to fail (foreclosures up 60% last quarter), housing market continues to depreciate (13% last 6 months) these bad debts will be worthless and the banks will own the taxpayer back quality treasuries.

 this is how the Fed pulled over a taxpayer bail out.

look at the bear sterns…lender of last resort to now prime lender (your money). they bail out a failed bank…lets not forget how much the average person makes at bear sterns, hundreds of thousands of $$$…top bankers and executive management receiving millions in bonuses. so the Fed bails them out, lends more money to JP Morgan so they can buy it now at a steal of $2.00 a share.

this will quicken at a unprecedented rate…we..you..us…fellow Americans will bail out more than a trillion dollars. FYI: WE CAN NOT AFFORD ANY OF THIS. the dollar will continue to fall and savings of every American will be wiped out. inflation will rise and rise choking us. we will experience a hard recession for many years with inflation first, followed by stagflation. with our purchasing power declining due to a falling dollar and then higher prices and for sure higher taxes I say again we will become surfs to the state.

i urge you to write your congressmen and senators to ask them to repeal the Federal Reserve Act immediately. Join Ron Paul, Peter Schiff, Jim Rogers http://www.cnbc.com/id/23588079 Jim Cramer, and many more.

 something is happening to our economy and country that has never been witnessed before…..we wake up and fight or loose or our prosperity and our freedoms. join us in this great campaign for freedom, prosperity and peace!