This is a video that every American must watch. In his amazing and courageous speech on the floor of the US Senate, Vermont senator Bernie Sanders plainly describes the war that is being waged against the middle class by the super-wealthy elite.
And while you’re at it, read his revelation about who got the bailout money: A Real Jaw Dropper at the Federal Reserve. It’s nothing short of wholesale looting of the American people by the banking establishment.
Here are some excerpts:
After years of stonewalling by the Fed, the American people are finally learning the incredible and jaw-dropping details of the Fed’s multi-trillion-dollar bailout of Wall Street and corporate America.
We have learned that the $700 billion Wall Street bailout signed into law by President George W. Bush turned out to be pocket change compared to the trillions and trillions of dollars in near-zero interest loans and other financial arrangements the Federal Reserve doled out to every major financial institution in this country. Among those are Goldman Sachs, which received nearly $600 billion; Morgan Stanley, which received nearly $2 trillion; Citigroup, which received $1.8 trillion; Bear Stearns, which received nearly $1 trillion, and Merrill Lynch, which received some $1.5 trillion in short term loans from the Fed.
Deutsche Bank, a German lender, sold the Fed more than $290 billion worth of mortgage securities. Credit Suisse, a Swiss bank, sold the Fed more than $287 billion in mortgage bonds.
When I first posted this item in December of 2010, I had embedded the video of Senator Sanders’ speech. That video has, for some reason unknown to me, been removed from YouTube. However, it can still be found elsewhere in cyberspace. Thy this link:
http://dailyhurricane.com/2010/12/senator-sanders-on-the-class-war.html. — t.h.g.
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Pingback: Plunder beyond belief, FED reluctantly shows the smoking gun. - Tom Greco at Chelsea Green
I would like to point out that the recent economic data has been crunched by the accountants and economists and the census data indicates that if income distribution continues unabated, in 2043 we will be where Mexico is now. Is this the legacy of this once great country, a Plutocracy. Why did poor and middle income people go out on 11/2/10 and vote against their own economic interests. I guess some people don’t have the sense to realize that the Rebublicans don’t give a rats ass about working people, people who get dirty. Their allegiance is to their party, the rich and powerful, and they won’t be happy until they have it all, meanwhile the rest of us will be scratchin’ around for crumbs. Nothing will change without publicly funded campaigns, ha, ha. In other words it will never change. What bothers me most is that people don’t see it. The Rebublicans spent like drunken sailors, tax cuts for the rich, two wars unfunded, Medicare Part D, and they put it all on what they now euphemistically call the “Chinese credit card.” And they didn’t invest a dime in America. Now Obama comes in and says lets have a stimulus package and reinvest in America and the Rebublicans aren’t having any of it. You have to understand the Rebublicans don’t like infrastructure or investing in America, in their narrow view that’s a handout for the poor and working class, and that is money we could be giving to the rich. Don’t believe they despise working people? Listen how the talk about Unions, it galls them that workers would have the temerity to demand a bigger piece of the pie they helped create. When was the last time they got behind any legislation for poor and working families. This party, (the GOP) which touts itself as being the Christian Faith and Family Values Party couldn’t get behind the S CHIP bill for sick children, what more do you need to know, they wouldn’t back something for sick children. Is it a Christian value to ignore sick children and enable their future continued suffering without Medical Care, the Rebublicans really don’t care, that’s as plain as the nose on your face. They pander to fear, hmmm, what will be the next flavor of the month, Muslims, gays, Hispanic immigrants, Black Panthers, transvestite coal miners, the message is quite clear, be afraid America, be very afraid, all these bad people are arrayed against white America trying to destroy your stanadard of living, except it’s not any of them it’s the GOP sending your job to China and lowering your standard of living, and their okay with that. Almost every time I hear the GOP speak they talk about jobs, yet they haven’t supported a single program to put people to work. They single- handedly, albeit with some Dem support wrecked this country when they were in charge, and it’s as if they bear no responsibility for the outcome, truely unbelievable that so many Americans are fooled by this, it’s disheartening that so many working people are cheering for the GOP to give them a chance to finish the job. Take a Mitt Romney Presidency for instance. He’s the head of a private equity firm, that’s where rich people pool their money and in some cases buy out American firms, throw people out of work and close factories so they can sell the business to foreign firms that will then move your job overseas, now your’e out of work, but on the bright side the rich got richer, and isn’t that about the only thing they’re concerned with. Believe me, if things in this country got really bad, they (the rich) would abandon it without a 2nd thought.
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Pingback: Class war in America: Senator Bernie Sanders tells it as it is. - Tom Greco at Chelsea Green
END THE FEDERAL RESERVE AND ITS FRACTIONAL RESERVE BANKING POLICY. THERE IS A REASON THE FOUNDERS WANTED CONGRESS TO CONTROL THE ISSUANCE OF THE CURRENCY ITS CALLED ACCOUNTABILITY— CONGRESS IS SUBJECT TO THE VOTE OF THE PEOPLE NOT LIKE THE FED WITH NO REAL OVERSIGHT, THEY DO WHAT THEY WANT AND OH WELL IT SUCKS TO BE YOU MR. AND MRS. MIDDLE AND LOWER MIDDLE CLASS.
The founders did not intend for Congress OR a central bank to control currency. Read the Constitution. Te money clause refers to “coin money and regulate the value thereof.” That means minting gold or silver coins, not spending endless amounts of paper money into circulation.