Public Commentary
Dear Editor:
That deer in the headlights look on the faces of Obama/Biden/McCain/Palin when discussing this crisis should tell Americans everything they need to know about these candidates. Not one of them is letting on they know what's really happening, much less how to fix it
In the last three years, the Federal Reserve has created over $4 trillion in new money out of absolutely nothing. As these huge new piles of phony money flood the banking system, the phony money already in circulation becomes worth even less, which leads to higher prices. We accept the vague term 'inflation' to describe this giant rip off, as if some immutable force of nature is the cause of our shrinking paychecks. But, make no mistake - this meltdown will ultimately spell disaster for every American.
The roller coaster ride began in earnest with the $60 billion Bear Stearns bailout, followed quickly by the $300 billion bailout of government's big mortgage/ banker buddies last month. September started with the massive Freddie/Fannie bailout that will end up costing taxpayers somewhere between $500 billion to $1 trillion. On Monday, the Feds brokered the Bank of America buyout of Merrill Lynch. Then just the other night, the Feds announced the $85 billion bailout of AIG insurance, an enormous global entity with over $1.1 trillion in assets.
So far, the only solution being talked about is more of the same failed monetary policies that got us into this mess in the first place - more fake money, more debt, more usury. It is time to demand a return to sound money. None of the other "Big Box" candidates is even talking about the most obvious place to begin the road to recovery, which is a return to the constitutional principal of sound money.
Chuck Baldwin
The writer is a Conservative commentator, Internet columnist, and Constitution Party candidate for President.
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