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Nickel
Ranttm:

Night of the
Living Debt
by
Edgar J. Steele

September 23,
2008

Downloadable audio file of Night of the Living Debt:
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"It's a jungle
here--right now we're advising our clients to put all they can into canned goods
and shotguns!"

---
Brain Gremlin in the movie Gremlins II: The New Batch.

Close your eyes and picture your children,
grandchildren and great-grandchildren, all alone and scared, in an old,
abandoned graveyard.  The moon disappears behind one of the gathering storm
clouds.  Lurching forms begin to emerge from behind tilting
gravestones.

A hand emerges from the earth and clutches
at one of your children.  They all begin screaming and dashing about,
desperately seeking safety that does not exist.

Suddenly, one child shrieks in
heart-rending agony as, set upon by three moldy corpses, her slender leg is
bitten by one.  As each child tries to help the other, he or she also is
taken to the ground by slimy zombie-like creatures who begin to feed on the tiny
forms.

Then you realize that you are one of
the zombies, just as you sink your rotten teeth into the warm, gently yielding
flesh of your offspring.

Hollywood "B" movie stuff?  No.
Reality?  Not yet, but it's coming, even if only euphemistically.

Right now, we are eating our
children's financial future, as well as that of their children and their
children's children.  We are the zombies.

How can this be?  Consider all the
financial carnage of the past two weeks, of which you may have heard a glimmer
from the controlled media.  Every last bit of it is resulting in massive
taxpayer bailouts of fat cats and foreign bankers.  So massive, in fact,
that taxpayers not yet born will be on the hook for their entire lives.
Our descendants.

Night of the Living
Debt

This past week, Treasury Secretary Henry
Paulson (one of an endless number of government functionaries formerly employed
by Goldman Sachs, one of the two remaining investment banks in America)
announced yet another bailout of Mortgage giants Fannie Mae and Freddie Mac,
this time to facilitate the increased purchase of mortgages in the near
future.  How much?  "Hundreds of billions of dollars," is all that he
would admit.  This must be added to the $300 billion bailout announced just
two weeks ago (ranging up to $1 trillion, in effect, by some estimates).
Paulson's announcement followed a rare meeting including "WhirlyBen" Bernanke,
Federal Reserve chairman, and a large number of government and private financial
industry functionaries and leaders.

Now, congressional hearings are in progress
to rubber stamp Paulson's demand for $700 billion more to buy any sort of
financial "asset," no matter how worthless, from any sort of financial
institution, both American and foreign.

Here's Your Share

Let's put the figures into
perspective.  Of approximately 350 million American residents, perhaps 150
million households exist.  Of those, less than half pay anything meaningful
in taxes.  Let's be generous and say that there are 75 million tax-paying
households in America today and that the Fannie Mae/Freddie Mac bailout is
limited to only $1 trillion.  Yours almost certainly is one of the
tax-paying households.  Your share of the mortgage giant bailout,
therefore, is $13,333.  And that doesn't take consideration of the fact
that half the tax-paying households rely upon a government paycheck,
either.

Of course, you already are on the hook for
twice that amount, or nearly $30,000, for the current Iraq war, which was
started on a lie told by Bush and Cheney about Saddam Hussein's "weapons of mass
destruction."  This pre-emptive Bush doctrine is the same one now so
favored by McCain/Palin and which will lead us into WWIII via Iran, most
likely.

Already, many have forgotten the
precedent-setting bailout of Investment Bank Bear Stearns, to the tune of $60
billion.  That kept Bear Stearns afloat.  Think it won't be back for
more?  Your share:  $800, so far.

AIG was just rescued by us, too.  $85
billion, or $1,133 from you.  AIG is part of the cartel that illegally has
been shorting silver and costing you big, incidentally.

Don't forget the Bank of America bailout of
Merrill Lynch this past week ($50 billion) and, previously, of
Countrywide.  Those were brokered by the Federal Reserve and, you can bank
on it, funded by us.  Let's guess and say your share is $1,333.

What about
Lehman Brothers, you might ask?  After all, it was allowed to go bankrupt,
thereby exposing all its dirty laundry for us to see.  That $600 billion
mess is being carved up right now by other financial companies and will end up
pledged as assets to the Fed and the Treasury for future loans, rest
assured.  You can count on up to half of the Lehman corpse ending up as a
dead loss.  Your share:  upwards of $40,000.

This doesn't include the banks already
taken over by the FDIC so far this year, a mere hint of things to come.
Nor does it include the other financial giants teetering on the edge of
financial oblivion.

For those keeping track, just the figures
above put you in hock for nearly $100,000.  Make that a quarter-million
dollars if we consider that your government-employee neighbor gets paid with
your tax dollars, too.  How do you plan to pay that off, Bunky?
Especially since the prices of everything just keep going up and you just lost
your job?

But the fat
cats are just fine, thank you, and thanks to you.  Fannie Mae's
departing CEO took $14 million in severance and Freddie Mac's ex-honcho walked
with $9 million.  Henry Paulson's personal fortune is nearly a half
billion dollars.

The $700 billion about to be handed over to
Treasury Secretary Paulson will carry no oversight and no regulatory authority
whatsoever:  He gets a blank check.  Section 8 of the proposed
legislation provides that "(d)ecisions by the Secretary pursuant to the
authority of this Act are non-reviewable and committed to agency discretion, and
may not be reviewed by any court of law or any administrative agency."
How about that, eh?  The arrogance of the Bush Administration continues to
new heights, surpassing even that which buoyed up the Patriot Act.

The USSA

Some form of this new legislation will
pass, rest assured.  In the course of just two weeks, America's entire
financial system - banks, S&Ls, insurance companies, brokerages, etc. - have
become adjuncts to the US government.  This is nationalization, pure and
simple.  Paulson is being given unlimited authority to order these
organizations to do whatever he demands and force our children and their
children to pay for it.

If you don't see this is as the most
significant two weeks in American economic history, a period that transformed
our country into a purely-socialistic state - the United Socialistic States of
America - then you quite simply have not been paying attention.

What is going on right now goes well beyond
anything that FDR dreamed when he set America on the path toward socialism.

To the right is a graph that provides just
a hint of the problem as it really exists today.  Look at it again - the
vertical line on the right side is not the chart's border!  Now,
imagine it being much, much worse.  It will be as we follow the path
charted by the Bush Administration.

By the time this is all over, the Federal
Reserve Bank will own virtually all of America.  Remember that the owners
of the Federal Reserve, a private corporation, are almost all foreign central
banking families.

What We Can and Cannot
Do

We can't feed and clothe all of America's
children, but we can afford $60 billion to bail out Bear Stearns.

We can't provide decent medical care to
America's seniors, but we can give $85 billion to AIG insurance.

We can't lift one finger to help out
Americans losing their homes, but we can hand over up to $1 trillion to
Fannie Mae and Freddie Mac.

We haven't the funds to provide proper care
and support to American veterans, but we can afford up to $600 billion to buy
pledged Lehman Brothers assets.

We can't do a thing to stanch to flow of
jobs offshore and alleviate the suffering of out-of-work Americans, but we
can hand $700 billion over to a guy who, until two years ago, ran the main
problem-creating company:  Goldman Sachs.

We can't afford to properly educate our
children to fit into a changing America, but we can afford $1 trillion for a
war that Cheney and Bush knowingly lied us into.

The Dollar is
Dead

WhirlyBen Bernanke recently was quoted
as admitting:  "We have lost control.  We cannot stabilize the
dollar."  Read that quote again.  Consider how much Bernanke has
lied to us and then imagine just how bad is the real truth.

During the past four years, the Federal
Reserve Bank has created $4 trillion out of nothing.  Every dollar created
in this way dilutes the purchasing power of every already-existing
dollar.

The recent runup in the dollar index from
71 to 80 was stupidly transparent - an obvious sham and machination of these
guys who have created the very problems which they now demand so much more money
in order to "solve."  The prices of precious metals were hammered down as a
consequence, so much so that now there exists a divide between physical metal
prices and the artificial "paper metal" prices.

And these guys - these outright failures -
have the gall to come and tell us to hand over the legacy of our children and
their children so they can create more failures and further feather their own
nests?

US Out of
America!

Are you mad yet?  You ought to be fit
to be tied.  We should all be marching on Washington, DC with firebrands
and pitchforks, in fact.

Throw them all out on November 4.
Vote against every single incumbent for every single office at all levels,
local, county, state and federal.  Vote against both Obama and Palin
... er, McCain.

New America.  An idea whose time has
come.

-ed

Copyright ©
2008 Edgar J. Steele

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