 |
Current mood:  determined Category: News and Politics
The Banks’ Massive
Theft
By Dennis Kucinich, July 11, 2009
Why we
desperately need monetary reform
Congress was taken for a ride, and the
American people’s wealth went with it.
So now you have a system of checks
and balances. The Treasury writes all the checks, and Congress doesn’t know what
the balance is.
Trillions of dollars are being taken both from the
Treasury and the Federal Reserve, which is printing money, which you, the
American taxpayer, have to back up.
We need to begin to have a serious
discussion of monetary reform because what’s been allowed to happen is that
banks have been permitted to create money out of nothing, and they have not held
sufficient reserves against their investments that could go sour. This caused
the collapse of a financial system that’s being shored up with U.S. tax dollars
and with trillions of dollars printed by the Fed as backup.
This is a
moment in American history that should not escape us. This is a massive theft
that goes far beyond anything that’s ever occurred in the history of this
country. What’s happening is they’re using government to accelerate the wealth
upward and they’re using the Treasury to grab the resources of the public and to
enable the banks to get extraordinary amounts of resources and they’re still not
loaning money to let people save their homes.
We desperately need
monetary reform.
http://www.progressive.org/kucinich071109.html
6:05 PM
Powered by  | | English | | Albanian | | Arabic | | Bulgarian | | Catalan | | Chinese | | Croatian | | Czech | | Danish | | Dutch | | Estonian | | Filipino | | Finnish | | French | | Galician | | German | | Greek | | Hebrew | | Hindi | | Hungarian | | Indonesian | | Italian | | Japanese | | Korean | | Latvian | | Lithuanian | | Maltese | | Norwegian | | Polish | | Portuguese | | Romanian | | Russian | | Serbian | | Slovak | | Slovenian | | Spanish | | Swedish | | Thai | | Turkish | | Ukrainian | | Vietnamese |
|