Since this whole banking fiasco started I have been reading about how the banking system works. The majority of countries, including the United States, use what is called “Fiat currency” (In other words fake money). The governments that use “Fiat Money” do not base the value of their currency on anything other than the publics willingness or requirement to accept it as “Legal Tender”, that governments guarantee to support it, and the balance between how much is in circulation relative to the amount of goods and services that are available to be purchased with that currency.

In addition to this the United States central bank (the Federal Reserve), along with the central banks of other countries, and all the subordinate banks in these countries use a system called “Fractional Reserve Banking” to multiply and manipulate the total amount of currency that is actually in active circulation in order to increase the amount of real and virtual money that is available. In affect this system allows banks to create money out of thin air. Another characteristic of this system and Fiat Money is the fact that every Dollar, Pound, France, or Peso that is created is in affect only an IOU. The banks create it and loan it to us. The money you deposit is the product of an IOU that was generated by someone else, and then the bank where you deposit your money uses your deposit and the “Fractional” system to create more money to loan to someone else.

The problems we are facing today are an inevitable result of this system. Each Dollar you have really represents debt that the government and other money generators owe to “investors” that buy the bonds and/or other government issued securities that are used to backup the currency. These bonds and securities are simply another form of IOU that pays interest to whoever purchases them. This system cannot sustain itself forever. Eventually the principle with interest must be paid. To do this the governments must ask the banks to generate more money to pay the debt but that only creates more debt. This is why the governments of the world say that they cannot let the banks fail because if they do then their currencies will fail. It will not matter how much money you make because it won’t be worth anything. Once you get to a certain point in this spiral of debt the government cannot afford to pay the interest on the debt much less the principle and the whole system collapses.

The fact that the Federal Reserve and the U.S. government have handed out over 10 trillion dollars so far (that’s 10 thousand billion or $10,000,000,000,000 folks) during this bailout panic appears to indicate that we are getting to the point where it doesn’t matter how much money they throw at this problem.

Now I must admit that this is a subject on which I am no expert and I have extremely simplified it but it appears to me that the United States government and the rest of the world have bet the house on a loosing hand.

President Elect Barack Obama

After a month away from my blog (vacation, dismal election results, and a personal political reassessment after this year’s election results) I have decided to jump back into the debate. I understand what happened on November 4th and to be honest I don’t blame Americans for making the choice they made. John McCain wasn’t really that much different than Obama when it came to policy and Obama was fresher, more articulate, charismatic, and he represented a historic “change”.

Once again Americans have proven just how un-racist they really are. I travel overseas quite a bit on business and people in other countries have this image of Americans as a bunch of racist rednecks. While there are some Americans on both sides (black/white) who are racist, the real truth is that considering everything that has occurred in our past we are doing pretty well I think. We are far less judgmental than most of the people I meet in other countries. In other countries their societies are fairly monolithic. Most people you meet are from one or two dominate cultural/ethnic groups. They talk about how Americans are such racists while ignoring how badly they treat minorities in their own countries. Only recently have other countries had to start dealing with what Americans have been trying to sort out for decades. In America we are all immigrants or descendants of immigrants. Europeans and Africans were the first (one voluntary the other not). Within the last few decades immigrants from many other countries have started to move to America. We also have Native American and Mexican residents that make up the only non-immigrant members of our society. In spite of all this we still get along pretty well.

Like I have said before, America isn’t a place, it is an idea. One that is continuously being more perfectly observed. More and more people are being included all the time. Opportunities are constantly expanding for everyone in America. Just look at who will soon be the next President of the United States. A black man who’s father was from Kenya. I seriously doubt that Barack Obama would have had any chance of becoming the Prime Minister of Great Britain or the Chancellor of Germany had he been born there. For all the ridicule that other western countries have for America and Americans they cannot match our record on human rights. First it was our revolution and constitution that led some of these countries to even consider the idea of embracing individual rights in the first place. Then it was our military that came to the aid of the oppressed in many of these countries over the last century. Don’t be fooled into thinking that it has been the U.N. that has led to the spread of democracy and freedom in the world. As Ronald Reagan said years ago, it is that shining city on a hill called America that has led to this time in history where more people in the world are living in freedom then ever before.

So now we are leading the way again by electing a member of a supposed oppressed minority to lead our country. Europe and the rest of the world simply cannot compete.

In the interest of full disclosure: I didn’t vote for Barack Obama and I still wouldn’t. I don’t like his policies but I accept the results and I am proud of my country.

What a day Inauguration day will be!

Facts we know:

1. Obama’s association with A.C.O.R.N: (Source2,3,4,5,6,7,8) In the early 1990’s Obama began working as one of the lead attorneys for this organization. He was one of the people responsible for forcing Fannie Mae and Freddie Mac to change their lending policies. He has also worked as a trainer for them. Teaching their recruits how to confront banks that refused to lend money to people with bad credit, no job, or both, by storming into lobbies and harassing the employees and customers. They would also target bank executives and harass them at their homes. ACORN’s legal actions and confrontational attacks on banks and their employees are what started us down the road to the current financial disaster. Barack Obama was involved in both. ACORN has also been involved in confirmed voter fraud in over a dozen states for years. Obama is currently giving ACORN $800,000 of tax payer money for various “non-profit and bipartisan” activities. ACORN is NOT bipartisan which makes them ineligible for government funds.
2. Barack Obama’s association with Bill Ayers: (Source2,3,(NY Times Sept 11, 2001),Obama says that it is/was a short term and minor association and claims that everything bad that Bill Ayers ever did happened 40 years ago. Neither of those statements are even close to being true. Bill Ayers is an unapologetic Communist to this very day. He went to Venezuela in 2006 to praise Hugo Chavez on his educations reforms. They are actually “indoctrination” reforms and Ayers had nothing but praise for them. As recently as 2001 Ayers said that he didn’t regret setting bombs and trying to kill Americans (he didn’t say the killing part but he was quoted as saying that the day he set the bomb at the Pentagon he was proud because “those Bastards were going to get what they deserved”, I think that leaves no doubt what his intentions were). In 2001 when Ayers was asked what he thought when he heard Americans say that “America is a great country” he said “it makes me want to Puke”! Ayers is a horrible person who hates America and is still proud to be a “little “c” communist”. Barack Obama worked with Ayers on 2 boards (the Chicago Annenberg Challenge and the Woods Fund). Both where/are far left wing organizations. One was started by Ayers and Obama was the FIRST CEO. Obama launched his political career at Bill Ayers house in 1995. Obama and Ayers have known each other for years and are more than just casual friends and Obama is lying about it.
3. In 1996 Barack Obama was a member of “The New Party”: (Source2,3,4,5,6) The New Party is a quasi-communist party that employs what they call “Fusion” to support politicians that share their views but officially happen to be a member of a different party. This information is still listed on the Chicago DSA (Democratic Socialist of America) website.

I can understand why so many people would think about voting for Obama. He is charismatic, smart, young, and a great speaker. The fact that he is African American is understandably a huge draw for voters in the black community. He is also the “anti-Bush” candidate which by itself could propel just about anybody into the White House during this election.

But please check the facts before you vote!

The “Charters Of Freedom“  refer to the historical documents that established the legal protection of every American citizens rights. While our rights were granted by God, governments throughout history have not consistently recognized those rights. With the signing of the Magna Carta by King John of England in 1215 the slow march toward the legal protection of each individuals rights began.

Many books, essays, and theories had been written between 1215 A.D. and the 4th of July, 1776 that had furthered the cause of liberty but on that day the United States picked up the torch of Liberty from England. That fact carries more than just the benefits of liberty, we have a responsibility to protect it and ensure that the light of liberty is not extinguished. Citizens who are ignorant of the human history of tyranny, and of the long fight for freedom cannot possibly defend it.

The links in this post are to the National Archives website where you can download High Resolution copies of the Declaration of Independence, the Constitution, and the Bill of Rights and get lots of information about each document. There are also links to information about the Founding Fathers.

I think that this is one post that we can all enjoy even if you disagree with my political views.

Thanks for visiting my site and may God Bless America.

Barack Obama appears to sit on a nexus between Marxist revolutionary activists, unrepentant former terrorists, Black Power racists, Chicago mobsters – oh, and a Saudi who is trying to buy up America.

She also said this:

If any other candidate had had merely a fleeting relationship with William Ayers, his candidacy would have been terminated before it was even articulated — let alone what we now know about Obama’s key role in Ayers’s CAC and its funding of radical groups; let alone the fact that Obama had been mentored during his formative years by a Communist Party plant; let alone his work for organisations modelled on the seditious philosophy of Saul Alinsky; let alone his two-decade membership of a Black Power church; let alone his relationship with fraudster Tony Rezko.

And yet despite all of this, virtually no-one in the mainstream media is asking any questions. Has there ever been a more staggering, surreal and scary race to the White House?

and Stanley Kurtz had this to say about Barack Obama and Ayers:

“There is nothing ‘sporadic’ about Barack Obama delivering hundreds of thousands of dollars over a period of many years to fund Bill Ayers’ radical education projects, not to mention many millions more to benefit Ayers’ radical education allies. We are talking about a substantial and lengthy working relationship here… The point of Ayers’ education theory is that the United States is a fundamentally racist and oppressive nation. Students, Ayers believes, ought to be encouraged to resist this oppression. Obama was funding Ayers’ ‘small schools’ project, built around this philosophy. Ayers’ radicalism isn’t something in the past. It’s something to which Obama gave moral and financial support as an adult. So when Shane says that Obama has never expressed sympathy for Ayers’ radicalism, he’s flat wrong. Obama’s funded it.”

I think that pretty much sums it up.

Bill Ayers

That’s what Obama likes to say when someone asks him to explain his relationship with Bill Ayers.

Well here is a guy who was only 9 years old when Bill Ayers’ “Weathermen” friends tried to blow up his house. John M. Murtagh (click his name to read his side of the story)

and the media ignores it:

L.A. Times Cuts Out McCain’s Remarks About Economy, Then Quotes Barack Obama Saying McCain is Scared to Talk About the Economy

Speaking of Barack Obama’s friend Bill Ayers, guess what his wife (Bernardine Dohrn) had to say about the Charles Manson murders:

“Dig it! Manson killed those pigs, then they ate dinner in the same room with them, then they shoved a fork into a victim’s stomach. Wild!”

I wonder if she was at Barack Obama’s Senate Campaign launching party that was held AT HER HOUSE!

By the way, Dohrn is currently a Law Professor at one of America’s most prestigious law schools: Northwestern Univerity in Chicago. For Dohrn, her current position at Northwestern is the culmination of nearly four decades of violent anti-Americanism.

Another Dohrn quote from her Weather Underground days:

“Hello, I’m going to read a declaration of a state of war… Within the next 14 days we will attack a symbol or institution of American injustice.”

Background information: The Weather Underground (also known as The Weathermen)

Wikipedia, PBS (no right wing outfit), Documentary, IMDB (see it for yourself, available at Docurama.com)

“As someone who has written critically of John McCain on a host of issues, including the Keating Five, none of it compares to the life that Barack Obama has led and his belief system. Obama is not merely associated with domestic terrorists, Palestinian radicals, Marxists, and black liberation ideologues — he was their favorite candidate. They groomed him. They befriended him. He befriended them. He socialized with them. In other words, these people saw Obama as representing their views and aspirations and he saw them the same way. I am not among those who raise Obama’s associations but add “of course, it doesn’t mean Obama shares their views.” Oh really? These miscreants include Obama’s former pastor, political mentors and allies, and friends. Obama attempts to downplay and distance himself from his own circle of allies now that he is running for president. But he is one of them. Obama is getting a pass that no other candidate in my memory has ever received.

If John McCain had belonged to a church for 20 years and that church advocated white supremacy and the  pastor of the church spewed racist propaganda wrapped in Biblical verses — much of which was caught on video-tape — what would we say? If McCain’s good friends included people involved in blowing up abortion clinics instead of the Capitol Building, the Pentagon, and police stations, what would we say? If McCain was socially close to a professor with ties to neo-Nazi groups in Berlin, as opposed to a professor who had ties to the PLO, what would we say? If McCain spent his formative years schooled in fascism as opposed to Marxism, what would we say?

Every time Obama’s life experiences and character are raised, the response is a diversionary tactic. Today, we’re supposed to be impressed with the moral equivalency argument (Ayers = Keating Five), or Obama’s associations and friendships aren’t what they appear to be, or Obama really isn’t like all those people he drew around him, or those raising these issues are guilty of McCarthyism.  There are 30 days left in this election. It’s high time the Obama fan-dance ended.”

All I can say is “Amen Brother!”