Friday, March 26, 2010

Zombie banks too big to succeed need to be replaced by a United States Bank similar to Bank of North Dakota

Bringing back Glass-Steagall is not enough:

Sen. Kaufman: Bring Back Glass-Steagall, Break Up 'Too Big to Fail' Banks

How about my idea for a bill?

Let the zombie too big to succeed banks like Goldman Sachs, JPM, Morgan Stanley and their bankrupt ilk fail.

Take over the infrastructure of the bankrupt banks and use their staff to create a new publicly owned bank that lends out to needy businesses at 1% rates like North Dakota's state owned bank which is the only one of its kind in this nation:

This is a more equitable solution than the fascist solution we have right now of using tax payer money to bailout the rich bankers so they can create our next bubble and truly destroy our economy.

If it is too socialist for some people, you can always spin off the banks publicly in a few years and have some limited oversight to go with it lest they get taken over by what's left over of the Bankster Leviathan.

Abe Lincoln stated the following of in his address to Congress in 1865 before the end of the war and shortly before his assassination: "I have two great enemies, the Southern Army in front of me and the financial institutions in the rear. Of the two the one in my rear is my greatest foe."

Why were the Banksters his enemies? Well besides running a RICO RACKET of printing fractionally reserved money out of thin air and wanting to lend it to The President's Army at usurious rates of up to 35%, they were busy funding the south with more money that the United States Treasury had at the time.

Why have our political leaders of today sold their souls to the lowest bidder in the thin air printed monetary unit?

There is one thing about being a bank owned "public servant" but what about doing the right thing so they not only can keep their jobs but more importantly not be ostracized and targeted by what will surely be a bankrupt populace seeking revenge and coming at them with pitchforks ala the French Revolution.

If the Banksters on Wall Street threatened the President with crashing the US economy if they don't get a bailout( as is rumored by sources familiar with the "bailout"), then he could always request from the Justice Department to arrest the Banksters on RICO charges.

If the Gnomes of Zurich Banksters don't like the idea and threaten the President directly, than all he has to do is publicly state so and the American People will have his back.

We just need to know that he is working for us and not just a captured banker controlled bureaucrat doing what Former Goldman Sachs CEO Henry Paulson and his ilk demand of him instead of what the American people deserve and what his conscious tells him to.

The current fake (socialist/capitalist/communist) strategies have returned less than 10 cents on debt infused dollar.

In an ideal world, everybody takes care of everybody else and people help each other out. This world may never become an ideal world due to the seemingly inherent laziness in human beings(myself included) where we've become conditioned in our own system of making it and passing the hard work to the next guy.

Besides inducing boredom, idle hands do adversarial work.

Max Keiser and Guest ask the important question: are we going the way of a ever collapsing GDP virtual existence?

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