HowardMorgan Stanley and Goldman Sachs
September 17th 2008 20:16
Real Crash- Looking at Capitalism and its Laws:
Is this what you get with British economics?
Is this the end?
Moma told me Goldman Sachs was gold.
Now Morgan Stanley too is ready to be sold.
( Oldie song- Is this the End?)
The collapse has hit more. Morgan Chase down 12-percent. Crude fluctuating up to $97/barrel. AIG tumbles despite the Government bailout. The government takeover is believed to kill the stockholders at American Int'l Group. Stockmarket down over 4-percent.
Is it really the end? Morgan Stanley down 26-percent and Goldman Sachs down 19-percent. Everyone on the radio screams that the bailouts were wrong, it wasn't not so bad, but what is really going on? Are the "derivatives" the real black hole that they fear, that could suck it all down? From housing to real estate to the derivatives, here it goes.
The Federal Reserve is in trouble itself, it seems in the auction off of Treasury-bills. Perhaps we will have to go back to fundamentals. Now Gold is up $55 an ounce. Can the US Fed Reserve print money out of thin air?
The fundamental problem goes back to the creation of the Federal Reserve, which created a debt to create currency. That in itself is unconstitutional, and was adopted in the wake of the Panic of 1907, instead of recreating a real Alexander Hamilton style Bank of the United States, to stabilize the situation. It was a violation of Article 1, Section 8 of the Constitution, the right of the US Congress to create currency.
An artificial debt was created, and then Federal Income Taxes, before only used during wartime, was created. The IRS was created as an institution to pay out the debt. Before then, the Federal Government was funded with tariffs on imports, but that was killed by the idiocies of British authored free trade doctrines.
So even when Franklin D. Roosevelt issued credit for production, the Fed Reserve kept giving easy money to Rockefeller, Mellon, etc. They in turn funded universities to brainwash the next generation to love: the British Empire, the rich, the money people and the Queen.
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