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  • FDIC Insurance Fund: It Doesn’t Actually Exist

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    Vern Hill
    Seeking Alpha
    July 9, 2009

    • A d v e r t i s e m e n t
    • economic crisis   FDIC Insurance Fund: It Doesnt Actually Exist
    When FDIC head Shelia Bair says her agency might have to bolster the FDIC’s insurance fund with Treasury borrowings to pay for the new spate of bank failures, a lot of us, this 40-year banking veteran included, assumed there’s an actual FDIC fund in need of bolstering.

    We were wrong. As a former FDIC chairman, Bill Isaac, points out here, the FDIC Insurance Fund is an accounting fiction. It takes in premiums from banks, then turns those premiums over to the Treasury, which adds the money to the government’s general coffers for “spending . . . on missiles, school lunches, water projects, and the like.”

    The insurance premiums aren’t really premiums at all, therefore. They’re a tax by another name.

    Actually, it’s worse than that. The FDIC, persisting in the myth that its fund really is an insurance pool, now proposes to raise the “premiums” it charges banks to make up for the “fund’s” coming shortfall. The financially weakest banks will be hit with the biggest tax hikes.

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    103 Responses to “FDIC Insurance Fund: It Doesn’t Actually Exist”

    1. James Says:

      Molon Labe!!

      http://www.zazzle.com/thelibertytree

      Voice your opinion…protect your rights!!

      Griz Reply:

      Spam in progress, eh?

      Tim Reply:

      9/11 Cover Is Blown – British and Saudi Intelligence are Culprits

      It gets better – Bush helped coverup

      Intelligence Report here:
      http://www.larouchepac.com/node/10997

      Preacher Reply:

      There are many people who say they only live for today but they have life, health insurance.
      Do you have fire insurance. I’m talking about Hell. Jesus Christ is the only insurance that saves from Hell fire. Read the Bible for yourself to learn about him.

      Jacob Reply:

      HAHAHA you make me laugh.

      I am not amused Reply:

      Jacob:

      Why does that make you laugh.

      If we are right, you might want to think a little more.

      You know eternity is a long time to be wrong. When the galaxies become a distant memory the condemned will still be in hell.

      I bet you think your an independent thinker – You are actaully now vogue, the in crowd. Hardly a way to be independent. Maybe, just maybe you have been brainwashed to laugh at Jesus. Think I mean really think outside the box for once.

      Bob Dylan said it – You will serve someone God or Satan, you will serve someone.

      We all have a master and are led – in your case you might want to ask yourself by who?

      Religion...ROFL Reply:

      Brainwashed into believe there is no god? Took me a while to forget the brainwashing…people need to stop telling these fairy tales to little kids with soft heads…

      I am not amused Reply:

      Religion:

      You can be brainwashed into believing anything, yes including there is no God!

      You say it is a fairy tale, I say it is truth.

      Oh, I was an atheist for years.

      Let me say

      1.) I am no one’s fool.
      2.) I have been told many times there is beyond nothing wrong with my IQ.

      Science supports intelligent design, actually it does. Intelligent design a creator.

      I could blow Darwin out of the water.

      Yes, you can be brainwashed into believing lies. They are nothing but lies.

      If you don’t believe that then you are very naive.

      uchikoma Reply:

      If you want to prove ID then you need to disprove that DNA can change or discover limits to that change.

      Do your worst – I’ll read whatever paper you write on the subject, even though I’m brainwashed into knowing the value of evidence and observation!

      Science does not support ID – if it did and you knew anything about science you would provide citations supporting your point. Citations other than the Bible.

      uchikoma Reply:

      PS

      I accept the possiblity that there could in fact be a ‘creator’.

      If so all that he did was set a few constants before the big bang and has left us the **** alone for 15 billion years.

      However if he is omnipotent he probably is wondering how a few Americans can declare that he is too dumb to have set in place a system that changes over time – when the whole planet that surrounds them is full of simple human made systems that change over time.

      Dr. Sardonicus Reply:

      *Intelligent Design* is not only scientifically feasible, it’s factual.

      To uchikoma: I’d recommend you read (for one example), “Darwin’s Black Box”, by Michael Behe (he was a Prof. of Biochemistry at Lehigh Univ. and NOT a Bible-believer, as far as I could tell).

      In his book Behe raises the aspect of *irreducible complexity* in many organisms (the intricate structure of the eye, blood clotting ‘cascades’, etc.). I thought it was a fascinating and compelling read. (oh..by the way..I was already a Bible-believing christian when I read it.).

      THEEPAGAN Reply:

      I am not amused ….. Think about what you just said : “You can be brainwashed into believing anything” you engage in more double think and double speak than our feerless leaders (traitors)

      I am not amused Reply:

      THEEPAGAN:

      No, in context it was not double speak. I meant it. He is under the assumption that Christians are automatically brainwashed and he is not.

      Just pointing out that can be done both ways. They are not immune from it as they automatically assume.

      See, the way they introduce the argument is that if you believe in Jesus you are automatically brainwashed. No, just pointing out that they may also be in that position.

      I can play head games very well thank you.

      I made a very informed decision.

      I know my redeemer lives.

      Think Reply:

      There is no GOD!!!! You people are so ignorant with all this religion BS. Sit down and take a deep breath and think……An entity fathered a child born from a virgin and then this son of God was crucified and rose from the dead.HAHAHAha! Sounds plausible right? No, it is all BS. No “miracle” like this has happened since or will ever happen again because it didn’t happen.
      YOU believers are the brainwashed ones….Christianity has caused more death, destruction and mayhem in the name of god than any other religion. It is a conquering way of life that is drivin by greed. Catholics are the worst, I know I was once a catholic and attended a catholic scholl for all of my youth….I had to take religion class and learn the ways of god…but I woke up all by myself and realized it is all horseshit. Evangelical preachers are digusting as well. They preach the word, ask for all you can give(money) and when you go home you might feel better for a time but your no better off. While you struggle to eat and pay bills these assholes fly private jets,drive expensive cars, and build mega churches so they can fit more lambs into their presence so they can make more money all of these luxeries payed for with your money…….wake up people…you might say they deserve all this wealth because they spread the word…hmmmm….see the similarites between being brainwashed by the church and NWO….it’s the same psych warfare…they know the secret own their mind own their body.

      Charlie Foxtrot Adm. Reply:

      Yeah some of us REALLY DO trust in God, and it works.

      No bank accounts, no mortgage, no insurance.

      Haven’t been to a doctor since my draft exam in 1964.

      There IS a way to live free from the bondage of all

      this contrived “necessity” brought on by FEAR, but

      only a handful ever break from the madding crowd.

      Intent Gaze Reply:

      Amen, brother.

      a voice Reply:

      THERE’S A POST NO FOOL CAN CONTEND WITH

      Waterhead Reply:

      This one of you that can PROVE without resorting to scripture that god actually exists… or existed… gets a lollipop. No one has ever shown me visible or concrete or verifiable proof.
      That bible is NOT proof. It was written by men. ‘God’ has done nothing verifiable, to thinking men, ever. In Jesus time (yes.. I believe he existed, but was not the son of a non-existent ‘god’)
      over 2000 years ago, ‘miracles’ impressed unsophisticated minds. Those so called ‘miracles’ could be duplicated today, and those minds would be totally amazed by things we consider common place, like: a cell phone, a digital watch, a TV, a computer. Christianity, at least, relies on circular arguments. ‘God is omnipotent’, ‘Why did ‘god’ injure/kill my son/daughter/wife [etc.] ??
      A: ‘god’ is just testing you. Circular argument. Also total bullshit.

      Hang your heads and rethink this without ‘faith’ getting in the way.

      ric Reply:

      that your your god is warming do so looking who is your god think your self

      troll alert Reply:

      …….If you read on there’s a troll party right below my post………

      Are the trolls here saying that if an article recently discovered by infowars is old it should not be posted, whether it is pertinent info or not?

      Are they saying informative articles like this one make them afraid, so please don’t post them?
      Scary news bad. fear mongering etc…

      These idiots (who are actually the paid shills of our enemies–they love lickin boots) are currently always in the first few postings for EVERY article now on infowars.
      Learn to identify them and you’ll see right through them.

      As for the article I actually did not know that the FDIC was a phantom ghost of a shell agency with no funds.
      Did you?

      Kim American Reply:

      Thanks you are right.
      Yeah. Another way to tell a troll. They never have anything good to say.
      Troll Alert!

      I didn't know the FDIC was not real Reply:

      BANK RUN!!!!!!!!!!!!!
      GET YOUR MONEY WHILE YOU CAN!!!!!!!!!!!!!!!!
      BANK RUN!!!!!!!!!!!!
      GET YOUR MONEY OUT BEFORE THE BANKS GO BELLY UP!!!!!!!!!!!!!!!!!!!!!!!!!!!!
      BANK RUN!!!!!!!!!!!!
      Buy food!!!!
      Buy food!!!

      House Reply:

      I keep telling people to get their money out of the banks….they’re just using it to make money while charging YOU fees to keep your money there…WTF! Are you stupid?

      Keep your money at home, where YOU can guard it and know where it’s at, and it don’t cost you a damn thing to keep it there, and the same banks who are screwing you aren’t able to loan it out at interest, double-dipping.

      That money in the bank won’t do shit for you when it’s been “lost” and you’re out of food and ammo.

      a voice Reply:

      nor will it do anything for you when it’s worth less than used toilet paper. soon your “lumpy matress” will be full of manure

      michael Reply:

      at least you’ll have toilet paper

      let me break this down 4 u waterhead Reply:

      lmfao.. true

    2. not new Says:

      Another article from 2008. I’m tired of articles on Infowars being sold to us a new.

      me too Reply:

      Have to recycle old articles when there is not enough FEAR in the current news!!

      bob b Reply:

      lmao so true.

      Still wondering why even infowars didn’t cover Russia landing on Alaskas west bank.

      Thats surely a fear plug.

      me too Reply:

      Why is there not one article about Palin resigning???

      What is Alex’s real agenda here??

      molokai Reply:

      why do hear so much about neocons but very little about neo libs

      Mike Reply:

      You both are forgetting about all of the new people that have started coming to this website after that article originally appeared.

      Unconquered Reply:

      Well I didn’t know this, Mr. Not News Smarty-pants. did you know this before reading it on Infowars? You’d rather neener neener Infowars for republishing a story from last fall than look at the real issue that taxpayers (that includes you) are duped again into something that sounds like its legit when in fact its another goverment sponsered scam.

      Just Me Reply:

      It’s new news to me. I worked in the insurance, finance and investment world for decades and we were always told that there was a fund that the premiums went into. I am Shocked that the bureaucratic leviathan of our government would lie to people! lol

      eric Reply:

      Good point “just me”. This site has new people coming to it everyday. So something that happened in the Clinton administration while old news to some, is news to others. That does not stop it from being true!!!!!!!!!!!!!!!

      Gimp's Son Reply:

      If there is a link from 2008 then provide it.

      not new Reply:

      @Unconquered: You want to know how I found out this was from last year? THE SOURCE ARTICLE IS DATED SEP 12 2008. Try doing some fact checking yourself before leaping to conclusions about what I deem ‘to know’.

      Just Me Reply:

      Yes, but did you know this information before reading this article today? Even if you did others have not. It would appear that although this article may be dated the information it contains is not dated and is still relevant.

      Unconquered Reply:

      Hey Mr. Smarty Pants. Yes you. NO SHIT it says 9/12/08. It’s pretty obvious that how you found it it was from last year. I said (if you could read) DID YOU KNOW THIS BEFORE READING IT ON INFOWARS? I seriously doubt it because its clear you jump to your flaming comments without even reading the post. Your comment about “fact checking’ is laughable when you can’t even read.

      jon Reply:

      stfu…..

      sudburychange Reply:

      1) Where are they claiming it’s a new article? They provide a link to the original article.
      2) Some people don’t know this already. Including me, so it was new to me.

      House Reply:

      lol….most don’t bother to go far enough to read the dates from the refferenced articles, they’re too busy arguing, pretending to be Rambo, or just being stupid.

      I’m waiting for an article informing us the US has put a man on the moon :-)

    3. Mary Says:

      This sounds like this is being done on purpose to make more banks fail.

      Joe Joe Binks Reply:

      DUH…. DOO YA TINK SO…?

      Mstr-Blstr Reply:

      Or is this another way to pay themselves off again with the stimulus money that has not been spent? Maybe the money from the stimulus was created to support the guise of an FDIC. Keeps panic at bay, the borrowed money from foriegn banks makes it full circle back to the same cronies, and with intrest payed on the original loan from us.. sounds like it could happen… but just a thought… what do i know I am one of the mass’s

      molokai Reply:

      think of it Mary how much money do you have in the banks.When yours fails like mine could we will not see an fdic insurance payment.Its not there has never been there nor will ever be there

      Crito Reply:

      When the government lies to the American people it’s not a lie. And I’m glad they made an example out of Martha Stewart too. That’ll teach us who can lie and get away with it and who can’t.

    4. J. Williams Says:

      In other words, since all of the FDIC money has already been “pre-spent” on government expansion, the “insurance” plan is simply to print up enough new money to partially replenish accounts at failed banks. Big surprise!

      For Big Government, the answer is always inflationary, which of course means that it is also taxable, since the newly-prinited money is always “loaned” at interest by central banking criminals who effortlessly print it up at their personal convenience for personal profit.

      In other words, we all pay to replenish each other’s accounts after they’ve been wiped out by the banking criminals, while said criminals crawl away free.

      Clearly, these central banking criminals need to be hunted down and prosecuted wherever they may reside, along with their treasonous political facilitators in every government on earth.

      Breathing Easy Reply:

      Well, crap. I just bounced my first check in 40 years. I was a whopping $3.23 short. The bank cleared this check, but for the trouble of covering $3.23 they charged me $38.00. Now if I do not go 2 blocks away and cover this massive shortage within 6 CALENDAR days I will be charged another $38.00. Then if it is still not covered, they will charge me $7.00 per day, for the next 26 CALENDAR days. SO for $3.23 they could end up charging me $258.00! I assume if they are not paid in say 30 days, they will close my account, and demnad the $258.00! Plus interest and attorneys fees! lol. I will of course pay them the $3.23, then close the account which I run around 250K through a year.

      I find this funny, because I do some work for a company on foreclosed houses. Just as in the lates 80’s early 90’s, the S&L crisis, these banksters do not even know the correct address of the property they are holding the mortgage on. SOmetimes I spend hours at the tax office or in deed records trying to determine the location of the property. And the looks of some of them, you wouldn;’t even wish to walk inside one of this “dwelings.” True toxic assets! And yet they “loaned” tens of thousands on some of the hovels sight unseen! They dont even know where they are! But they got caught holding the mortgage paper before the Wall Streeters could turn them into CDOs and CDSs, more worthless paper and over leveraged 60X.
      Folks, I swear, this is the same scam they ran in the S&L crisis, (without the CDOs and CDSs) and we all bailed them out then too. Everyone lost their jobs, the economy tanked, market crashed, and WE bail THEM out?
      This is just a huge scam! Pure fraud! yet not a one of the crooked banksters or Wall Streeters that have wreaked the current havoc will ever be prosecuted and the money will never be found!
      What a bunch of suckers we are!!!

      Kim American Reply:

      You are right! And, the same people involved.

      Unconquered Reply:

      Sounds like…Social Security! Another ponzi scheme.

    5. Real Moneys Says:

      We need to return to the gold standard with real precious metals like a real copper penny, or
      a real nickel nickel, and silver dimes, quarters, and dollars. We need gold coins in different
      denominations like in 8ths, 4ths, 1/2, and 1 ounce denominations and make gold plated money,
      and sandwich coins illegal; now!

    6. JT Says:

      More government ponzi schemes

      jm Reply:

      exactly.

    7. joe Says:

      really? i dont believe it.. how could a federal institution be misleading us? Im sure its for our own good.

      Joe Joe Binks Reply:

      I’M SURE TOO… CAN’T WAIT FOR “MY” SHOT, I HOPE THEY CAN INJECT THE TRACKING CHIP THINGY TOO….

      Viet Nam Vet Reply:

      Joe,

      No use their favorite one………………….

      “It’s for the Childern”!

      VNV/Patriot

    8. Jski Says:

      How is it being sold as new? The article was obviously posted to inform us and give us a little education on the impending bank closings.

    9. Cuba78 Says:

      Hey Not New,
      I have never heard anybody claim that all these reports are new and done by infowars reporters. As a matter of fact, Alex has said time and time agian that he re-repoets the news given, telling the american people what the NWO plan is, you jackass.

      not new Reply:

      Don’t you think a little disclaimer stating “Originally published Sept 12, 2008″ is owed to us?

      uchikoma Reply:

      Idiot…. Mate nobody owes anybody anything. Use your f******* eyes, read the f****** article, have thoughts (YES THOUGHTS!!! ZOMG!!!) that is all you need to do.

      Is it really that hard to work out why some stories are reposted????? Could it be that the information contained within is pertinent???

      You may be thinking of arguing back… Have a go, It would actually be intresting to hear a fool like you justify himself. I wonder if you will come up with any new original bullshite or generic tard talk???????

    10. Vade Lynch Says:

      We are at the point where EVERYONE who knows whats really going on need concern themselves with nothing more than giving out copies of DVD’s, copies of the Jane Bürgermeister lawsuit article by Kurt Nimmo, wearing infowar t-shirts in order to get conversations started, and most of all, educating yourselves so that you may speak to the subjects inteligently and calmly. Stand up straight without looking down your nose. Present yourself so that you and your information will be received well.
      There is no conspiracy, but there is an agenda. We were warned about “infiltration” long ago. Now we must practice infiltration to subvert the system that the enemy has clandestinely replaced our beloved republic with.
      Please. Stop wasting time with idle hands and loose lips. Educate yourself and educate others. Help people discover the truth on their own.
      Good Luck.
      http://www.myspace.com/vademusic

      River Rat Reply:

      Vade Lynch I agree, somebody is always saying someone should do something about it or wanting somebody to fire the first shot.

    11. Whammer Says:

      Wow I thought emmbezzling was a crime. Guess I was wrong.

      Joe Joe Binks Reply:

      ONLY IF YOU’RE NOT IN THEIR CRIMINAL ORGANIZATION… LIKE THE CHICAGO STYLE MOB….

    12. Mark Foley Says:

      Alex Jones has all the money in his size 48 trousers.

    13. Anograms Says:

      Felony Demonic Idiots’ Con

    14. Joe Joe Binks Says:

      ONE, SEEMINGLY UNIPORTANT THING I HAVE COME ACROSS… PEOPLE ON SITES SUCH AS THESE… ONLY REPEAT THE SAME OLD MESSAGE… OVER AND OVER.. TO PEOPLE THAT ARE LIKE “99% LIKE THEMSELVES”! ON ANOTHER SITE, I RAN INTO THE SAME SITUATION… I TOOK IT UPON MYSELF TO “EMAIL” YOUTUBE VIDEOS AND ARTICLES TO HUNDREDS AT A TIME “NOT” ON “MY FRIENDS LIST”…. THOSE ARE ONES THAT DON’T KNOW 86% OF WHAT “I, AND MINE KNOW”. IF THIS MIGHT HELP A FEW OF YOU ON OTHER SITES, “I BELIEVE IT CAN MAKER A DIFFERENCE, YES?

      uchikoma Reply:

      Totally correct man. The phrase is ‘preaching to the choir’!

    15. mark Says:

      this article is not correctly stating what FDIC insurance is. it is insurance on YOU. not worthless paper.

    16. Gary Says:

      Of course there is no fund. Just like Social Security. The money the government operates on is created out of thin air on an as-needed basis. There is no need for a fund.

      Kim Reply:

      So why are they taking money out of our paychecks each week for Social Security? This money is supposed to go to a fund, but gets spent.

      Gary Reply:

      It goes into the pockets of the international bankers, Kim, as all federal taxes do.

    17. MADD HATTER Says:

      I’m just wandering one day if I should pull all of my money out of the bank,but I only have like $35,700 in there.

      john Reply:

      Awwwwwww…..

      gordy three horses Reply:

      hey madd hatter give me the money and i would spend it on something good like hoockers, booze and pot and what little would be left i would just blow on food and bills

    18. REEFERKEEFER Says:

      agh what a perfect storm coming.

      nader paul kucinich gravel Reply:

      Kind of like that Social Security lock box where all the funds are…

      Does “your” government & media lie about anything?
      Does “your” government & media lie about everything?

      DNC & RNC have BOTH sold out the country in order to enrich themselves.

      Gravel Kucinich Paul Nader
      McKinney Ventura too
      perotcharts.com

      The Fed
      AIPAC
      9/11

    19. Mr.Geltschmidt Says:

      Alex ran out of jacko rants hahaha kibbitz

      roaddog Reply:

      no, he got bored with it. The freak mj is dead and gone. Turn the page.

    20. SID Says:

      future world currency??

      http://www.thetreeofliberty.co.....p?p=636751

    21. allmhuran Says:

      This is why the public should put their savings in credit unions.

    22. cookie Says:

      not just FDIC is bankrupt but also there is no real money in 401 K and IRA , they used them all
      trying to pump useless financial zombies

    23. god Says:

      LOL…
      does making post bashing an article on info wars mean that all is ok in our government.
      It makes me laugh to see people come on here and try their hardest to discredit info wars…Are they trying to say that all is right in our country? No one is that stupid!!!!!!! Are they?

      So this article is old… Does that mean that our government is not corrupt? HAVE YOU SOLD YOUR SOUL, OR ARE YOUS THAT STUPID?

    24. Sir Baby De Porky Says:

      The whole ” money ” thing is a room of mirrors , where even Bruce Lee would get confused !!!

      Alternatively , like at Fort Knocks , it looks more like the ” Desert of the Tartars ” !!!

      P.S. A rip off , inside a scam , within a crock of shit !!!

      Anyone for tennis ?!?

      loudog Reply:

      lol soo true

    25. Madman Says:

      How can they pay off 53 trillion?
      http://www.youtube.com/watch?v=uEcdL2yXexE

    26. Madman Says:

      False claims of hope…
      http://www.youtube.com/watch?v=XUw7LEAXWX0
      FDIC, won’t be able to pay… and if they just print it off, it will be worthless.

    27. ! Says:

      July 9, 2009
      G8 Meeting

      The G8 leaders are meeting in an earthquake zone in Italy this week and discussing global warming and the creation of a global currency. Both scams on the public.

      But for sure, they will talk about the pope’s call for a “New World Authority” that will govern everyone on Earth equally and totally. Of course, our dear Nazi pope is referring to the dictatorial global government of a NWO.

      No matter how you look at it, nothing good for anyone will be coming out of this sham group. No one from the public can attend, no cameras allowed inside and no messages from the people of Earth are allowed to be given to the ones supposedly leading them. Does this seem democratic or fair? Isn’t this why Iraq was invaded? Isn’t this why we argue with Iran? So why are we allowing it for the rest of the world??

      http://expansions.com/News.cfm

      razor Reply:

      THESE SCAMMERS WILL BE ELIMINATED FROM THE PLANET TO LIVE PEACEFULLY IN HELL.

    28. a voice Says:

      I will bless them that bless thee and curse them that curse thee. You better watch out friend, you are dealing with a group of people that God takes care of. I know that they are evil and they will get what’s coming to them for killing his Son, but you had better watch your mouth or you are gonna get what’s coming to them. (hell on earth) REPENT OR PERISH

    29. Kim Says:

      The Vatican is part of it…seven heads and ten horns. There is such evil in the world right now. Get right with Jesus.

    30. August Says:

      For you “Intelligent Design” thumpers, is the “Intelligent Designer” the “God” of the Bible or can it be a “Sick sadistic all-powerful bisexual loving war-monger that gets off on other’s misery? Can it be?

    31. August Says:

      Intelligent Design believers are stealthy Evangelical Christians doing anything to spread their POISON!

    32. The Redskin Redneck Says:

      Why so many people continue to doubt the wonderfull Alex Jones and other “really” patriotic Americans amazes me. It just amazes me. Is Alex a guy who makes billions on corrupt Wall Street, selling derivatives, options, and other such “productive” to the Americans instruments? NO he is not, yet many stupid people will criticize his work and lionize Wall Street and other criminals.

    33. The Redskin Redneck Says:

      August, I am not an Evangelical Christian and I do not support them in any way, because I believe they misinterpret Gods nature. Why would you assume God is a warmonger? He isn’t starting the wars. Why would you assume misery is a domain that God dwells in? It sure as hell doesn’t seem to bother most humans. Well then why doesn’t God stop all of this evil? Perhaps it is because God knows that we duplicitous human beings will hate him when he does that, afterall, we know that what we desire the most is freedom. We don’t want to have a benevolent master. God is a LOVER, because he allows us our freedom, even though “he” knows what it will lead to for us. He hopes by doing so that we might not lose interest in him altogether, just as any lover does when the object of his love requests some “space”,etc.

    34. Rationalist Says:

      http://leavingalexjonestown.blogspot.com/

    35. Ju Ju Eyeball Says:

      WOW! If I did that, I would be arrested for theft and fraud….

    36. razor Says:

      FDIC CAN’T EVEN BACK UP PAPER MONEY WORTH 95% LESS THAN WHEN THEY WERE FIRST ISSUED. IT’S TIME TO DISPLACE THE CRIMINAL BASTARDS IN GOVERNMENT THAT ENABLED FDIC POLICIES.

    37. Rush to War Says:

      The taxes are strictly a way to keep the masses politically the underdog. Old trick of war to plunder from your enemy, to keep them at the disadvantage.

    38. sydwayz Says:

      HEY guess what? Chem Trails dont exist either but look at this
      7/11/09 Maine a rural state

      http://www.youtube.com/watch?v=YkZa4lbXExo

    39. taxes Says:

      Taxes are a way to prevent inflation. As “money” moves electronically, the amount of “money” that ends up in circulation has to be removed from circulation. Money going out doesn’t equal money coming in, because the money is first spent by the government on whatever crap the government wants to spend it on. The “money” is on loan from the Fed to the government after which it makes it way down the pipe to everyone else. The more “money” in circulation the more taxes they will need. Now of course FDIC, is backed by “money”, numbers printed on paper, which has a little if any real value. This is all part of inflation.

    40. The Joker Says:

      If the FDIC is a fraud, they why do we pay into it? I don’t ever remember signing a paper for it to come out of my paycheck.