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$700 Billion is Nothing

submitted by Trancecoach

1 decade 6 years ago

The Corbett Report has created a new video explaining why people should be angry about more than just the proposed $700,000,000,000.00 ($700 billion) bailout of Wall Street. One reason, of course, is the $2,300,000,000,000.00 ($2.3 trillion) missing from the Pentagon on the day before 9/11 (when the Pentagon's Budget Analyst Office was destroyed), not to mention the $trillions that Federal Reserve is pumping into the system and the quadrillion dollar derivatives bubble.

Seems to me that this economic calamity is yet another controlled demolition, not unlike building 7.

5 Comments

upvoted, but wish the clip would've stayed on the surer footing it finds in the first half.

the hidden tax, that ron paul refers to inflation as, in his book?
is due to the fact that whoever the Fed initially gives the new money to, is getting much more value out of those dollars.
the moment those dollars are 'spent', into the money supply, every other dollar is now worth that much less.

notice how no one in washington mentions sending the money to every family that's about to be foreclosed on? to be spent on their mortgage payments?
having the money initially spent at the 'bottom', and going 'up' the system?

The only thing worse than the problem in this case, is the cure. Only cure I can see is the destruction of the dollar and a new dollar system based on solid money. The fed would have to destroy trillions of dollars to put the money back in standing with gold or some other standard.....I just don't see anyone talking about this that has any power. This is going to be bad...really bad.

... i read it as 'colbert report'...

goddman it!!!

Upvoted, but agree with my15minutes that it goes downhill after the first half. It tries to make it sound like the 2.3 trillion dollars disappeared overnight on September 10th when in reality that was an accumulated amount of unaccounted dollars spent by the Pentagon over a period of years. In fact the video even shows this--the congresswoman questioning Rumsfeld (4:28) points out that the 2.3 trillion dollars was actually missing as far back as 1999. Nevermind the fact that it was Rumsfeld himself who originally drew attention to the 2.3 trillion dollar problem on Sept. 10th and pledged to reduce government waste and refine accounting measures. It just seems odd to try to make this into a conspiracy theory. Why even bother announcing and drawing attention to the problem if you intend to obliterate all the records the next day anyway? No one would have even noticed if Rumsfeld hadn't had made the announcement.

Money used to represent real value. Now it only represents debt.
http://www.videosift.com/video/What-is-money

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