This Fraud is the Worst Yet

Of the $1.6 trillion the US government will borrow this year, the biggest single lender is us, the private sector, chipping in $700 billion.

Will it ever change?

Will it ever change?

When you figure out just how fraudulent our government “bailouts” are, maybe you will vote the bums out so we can start fresh and potentially as a democracy again. But that might be asking too much. Please get mad about what I’m about to share with you and do something about it!

This is the worst fraud yet…when you figure it out.

Supplying cash-for-this and cash-for-that is an expensive proposition, especially when tax receipts are falling. The money has to come from somewhere. As it turns out, the feds borrow it from the very people who are trying to rebuild their personal balance sheets. Of the $1.6 trillion the US government will borrow this year, the biggest single lender is us, the private sector, chipping in $700 billion.

But instead of being put to use in a way that might stimulate a real recovery – providing credit for small business and consumers – it is taken up by the US government and then frittered away. Now listen up my fellow citizen of Amelia Island, here’s the dirtiest part of this massive tax payer con job.

The banks are happy to play the government’s game too. They can borrow overnight money from the Fed at only one quarter of 1%, annualized. But lending to small business is hard work. And it is risky. Why bother? The US Treasury will pay them 4% for lending back to the government, long term. This is practically free money to the banks. Both the bankers and politicians end up ahead – with a bigger piece of the economy under their control.

Please stop here and re-read this paragraph. Your elected officials are literal stealing your personal wealth to give it to their favorite and most powerful lobby, then that lobby gives back part of the fraudulent funds to get the politicians re-elected.

Meanwhile, the real economy staggers. “Drought of credit hampers recovery,” summarizes The Wall Street Journal. The United States needs to create a million and a half new jobs each year just to keep up with population growth. Currently there are 15 million people without jobs already… and a couple hundred thousand more unemployed every month. And if this recovery continues long enough there won’t be a single person left in America who still has a job.

Even if the economy could be stabilized, it will leave millions without jobs – more or less permanently. Add the people working reduced hours, and those who have been looking for work so long they are no longer counted, and their families, and you have a quarter of the population without money to spend. That’s why this slump is not going away any time soon. As in Japan in the ’90s, we may have to live with this depression for the rest of our lives.

The sickest part is your government is assuring your current and future pain on purpose!

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