This is Slavery

April 19, 2009
By

Buy Low, Sell High

By Tracy R. Twyman

Several of the people that I tried to get to go with me to the Tea Party said the same thing: They were sympathetic to the cause, but they didn’t feel it was their right to protest because they didn’t earn enough money to owe Federal income taxes.

Well, that doesn’t mean that they don’t pay taxes, of course. Everyone pays taxes, on a federal, state, county and city level. Beyond the income tax, there are thousands of punitive sales taxes–on gasoline, electricity, natural gas, telephone service, cable TV service, satellite TV service, alcohol, cigarettes, etc.), not to mention property, corporate, and capital gains taxes, and the thousands of licensing fees that governments makes people and businesses pay. All of this is factored into the cost of everything that you buy. And of course, everyone who gets a paycheck pays into Social Security, even though nobody actually believes that they are ever going to be able to draw from it. These things suck far more money out of your wallet than income taxes do. They also suck the value out of the money in your wallet, which is far worse. The policies of the federal government, and of the privately-owned Federal Reserve, are the direct cause of inflation, which is what many economists call “the hidden tax.”

But something much worse is coming. Something that is happening right now. And everybody at that rally could sense it, which is why I really think most people were there, although they found it difficult to put into words.

The Revolution we are pushing for is not just about Federal income taxes. Both the participants and the jeering outsiders need to understand that. Taxes are only part of the problem. The real problem is that people we have no control over are negotiating on our behalf to sell us into slavery to foreign bankers. And they aren’t just planning on “taxing” us the old-fashioned way to pay for it. You could tax everyone into the ground and it still wouldn’t be enough to make the interest payments on our debt.

What is happening now is not just stifling taxation, but the outright seizure of private industry and private property. With that comes the necessary stifling of dissent, and the dismantling of all personal liberties. The path we are on now leads to a dictatorial regime, in debt to an international banking cartel, using the labor and property of American citizens to make payments on these loans, and as collateral to take out more loans, to continue funneling real wealth into the hands off a select few, leaving the American people with nothing but bills to pay, and the threat of imprisonment if they do not.

The national debt has been greatly increased (tripled or quadrupled, according to who you believe) over the last 7-8 months since the bank bailout process began. Most of that money has gone and will continue to go into what seems to be a black hole: to try to make “solvent” companies whose major “assets” are derivatives based on loans that have been defaulted on.

This most recent crisis started because the banking industry, with pressure from the federal government, created money out of nothing (as banks always do) and loaned it (with backing from the federal government) to people who could barely afford the payments, with “adjustable” interest rates. By design, the more of these loans they handed out, the higher property values went, and thus the mortgage payments that these people were required to make necessarily increased to the point where it was no longer possible to pay them. It seems kind of stupid, doesn’t it? Of course this wouldn’t work! And it certainly doesn’t help poor people!

Then you add in the fact that after the loans were made, they were traded around by various financial institutions to make more money out of nothing. Derivatives and insurance policies based on these loans were created. Everyone who sold one of these “products” got a commission, even though what they were selling wasn’t “real” because it was based on debt that was destined to be defaulted on.

Amazingly, this was allowed to go on to the point where the amount of bad debt that was in the system, based on these ridiculous loans, was actually enough to threaten the entire system itself. Or so they say.

Now it kind of seems obvious that if money that was created out of nothing to loan to people who couldn’t afford it, and those loans are defaulted on, then the institutions that loaned the money out should just have to eat the loss now, right? And also, the companies that traded the loans and insurance companies should also have to eat it, right? I mean, the money was never real in the first place, and the house was never worth that much. The only thing of any real value in the situation is the house that was bought with the invented money. Unfortunately, the real value of the house is only a fraction of the debt that was created in connection to the house.

It seems only reasonable that the mortgage company should get to seize and resell the house, and everyone else involved in the deal should have to eat the loss. The homeowner loses the home and now has bad credit. Well, that was going to happen anyway. But everyone else who created and sold a financial product based on the false idea that this mortgage loan would be repaid–well, they should just have to eat it, right?

But that’s not what’s happening. Instead WE ALL have to eat it! The government has chosen to spread the misery as much as possible by using public funds, and more money created out of nothing, in order to prop these companies up. Certainly this doesn’t help the common man. The most helpful thing to him would be for housing prices to return to a reasonable level, which is what the economy is desperately trying to do. But that’s not what Washington is going to do. Because helping the common man, or even creating a solvent financial system, is not the endgame.

I am not proposing a massive conspiracy theory here. But it is pretty clear that people in positions of power are not being honest about their motives. I don’t know that this whole thing (the collapse of the financial system) was pre-planned, as some people claim it was. But certainly our leaders are not letting this crisis “go to waste,” and I think that it’s only a crisis because they made it into one.

The talking heads on television would like you to think that this is all happening because a few people defaulted on their mortgages. That is not at all where it started. That’s just what tipped it over the edge.

This thing has been building up for a long time. Since the 1930s, really. That’s when we removed the gold standard from our currency and began to pay for massive government expenditures with money backed solely with IOUs, written against the labor and production of future generations of Americans. Everything that the federal government has done since then has indebted us further to the international banking cartel. This is the cause of the bubble that is now bursting. This bubble has created the vast chasm between the rich and the poor. This bubble is responsible for putting all of the real wealth in the hands of a small few, with the rest of the rabble holding nothing but paper money and digital bank accounts that can be devalued at any time the banking cartel chooses.

Now we are at a point where the ratio of our debt to our GDP is no longer sustainable. Our creditors (like China) are refusing to loan anymore. We owe so much that it is not possible to make the interest payments anymore just by taxing people. What the government needs is more collateral, and a source of more income. They need our property, and they need to control our income-earning industries.

How convenient, then, that this financial crisis has enabled the Federal government to take over the mortgages of at least half the homeowners in America, as well as the entire financial services industry. Oh, and how convenient: they now own the insurance industry too. So the government can actually now pass laws telling you what kind of insurance you need to buy. Then they can sell it to you also!

Simultaneously, the car industry is in trouble too. So of course, what a great opportunity for the government to take over the automobile industry. I’m sure a lot of you would love it if the price of automobiles dropped significantly. A lot of people cannot afford to buy new cars. Just like me, many of my friends have never had a new car in their entire lives. It would be great if the industry collapsed and was forced to sell new cars for $2000, like they do in India and China.

But the government now owns the car industry, and they are going to keep the outrageous price of automobiles propped up as high as possible. After all, they’re running a business now. They need to make a profit. And they’re not just in the business of selling cars. They’re also in the business of selling you a loan so that you can buy the car.

This is what is already happening. But the really bad news is that something much worse is coming. Even with increased taxation, and even with taking over the industries described above, the government still won’t have enough to make payments on its debt. So what can they do? How can they extract further value from the American citizen to help make these payments?

Well, that’s what the cap and trade scheme is all about. I will write about that in my next a future essay.

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