The Ripoff of America!

President Obama and his Congress have burdened the US taxpayer –that’s you and me  for generations to come. 99.99% of the populace has no idea what is happening and they will never be told  unless they read this report and understand the depth of the deception.

Let’s begin by discussing the triggers that broke the economy’s bank – the housing debacle and a closely related – and mostly ignored – problem, consumer credit. My statement that the crisis in totally fabricated may not be easy to swallow, yet I state authoritatively that it is true.

Let me begin by asking a question – should one who borrows money always return the money he borrowed, whether from an unsecured loan (e.g. credit card debt) or a secured loan (such as a home loan) to the lender? What if no money was ever loaned? What if there were a official publications from the Federal Reserve Bank that admit that the customer is the lender in any bank loan transaction?

Let me re-state that: that the Borrower (the customer) is actually the Lender? Sounds stupid, doesn’t it? It gets even better. Read on. Another question: would it be right to expect someone to pay you with the results of their 8 hours hard work if you only gave them a piece of paper that cost you nothing in return?

The truth is exposed in several public documents that in summary, explain that commercial banks and financial institutions do not lend anything. Let me give an example. You come to me to borrow some money, let’s say $100. I didn’t have the cash, so I wrote you a note on a piece of paper that said IOU $100. Then suppose you used that IOU to buy food at the grocery store. Did I lend you anything of value? The checkout clerk accepted the paper as having value, but in fact all I did was write IOU on it. Do you believe in this case you have a moral obligation to “return” $100 of value – your earnings from 8 hours hard work – to me?

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