Wednesday, October 1, 2008
Ron Paul says he thinks the Govt SHOULD do.
4 minutes CNN
Source & Transcript
The problem with debt is that every single dollar that goes into circulation has a debt (interest) attached to it, and therefore we can never be out of debt. The federal reserve makes NEW currency (money) and that goes out to pay the debt - but those new dollars also have debt (interest) attached to them, so the debt can never be paid back. This is why the USA's debts have kept going up and up instead of going down. (see the new world order video below)
If the federal reserve decides to stop making new money and call in the old debts, then we WILL SEE another depression.
The FDIC proposal is to raise the maximum limit for insured deposits from $100,000 to $250,000.
Now class, raise your hands if you actually HAVE $100,000 or more in a savings account right now. Anyone? Anyone? Buhler? Buhler?
Well, it seems to me that the vast majority of Americans are going to give a big ho-hum to the FDIC limits issue, because the vast majority of Americans just don't have that kind of money sitting in a savings account!
And the fact that they are trying to resell the bailout with this proves that the so-rich-they-can't-remember-how-many-homes-they-own politicians are totally out of touch with what real Main Street Americans are having to deal with.
Another reason to dump all incumbents in November (or when they are next up for re-election)