March 9, 2009
In an interview with the Financial Times, former Clintonite, CFR member, and Bilderberger Larry Summers said more “public money” needs to be pumped into the economy in order to lift the world out of recession. The Obama administration has no choice but to take strong public action to “save the market system from its own excesses,” said Summers.
|Top economic adviser for Obama, former Clintonite, CFR member, and Bilderberger Larry Summers.|
According to Summers, the United States and other western nations need to live “within their means” in the long term, but in the short term they need to “raise spending sharply,” that is to say the bankers need additional infusions of tax-payer cash.
Appearing on Meet the Press in January, Summers said injecting more capital into the banks is the solution required to get the global economy moving.
However, as noted by an increasing number of economists, dumping more money on the bankers will do nothing for the overall economy. The first banker bailout, rammed through Congress under the threat of martial law, went to banks and insurance companies in order “to secure holders of bank bonds, the holders of credit default swaps guaranteed by investment banks and insurance companies and secure past and future excessive executive compensation paid by those banks and insurance companies,” as John Olagues explained at the time.
[efoods]Summers’ call for “strong public action,” i.e., saddling the public with more debt, has nothing to do with saving “the market system from its own excesses.” It is a debt slavery scheme. “The bankers have discovered a way to force the people of America and the world into an intense form of debt slavery and that is the reason for their reckless past lending practices, credit cards for all and now this massive Wall Street Bankers Bail-Out,” Olagues writes.
The globalist Larry Summers expects the American people — indeed, the people of all western nations — to pony up trillions more to the bankers without question.
Last year, we were told the bailout was designed to buy up toxic assets and allow the banks to get back into the business of loaning. Henry Paulson lied to Congress and used the first $350 billion to buy preferred stock in banks and the banks used the money to buy up competitors, pay CEOs and take lavish vacations. Bloomberg and Fox have sued the government in an effort to find out where all the money went, but the government feels that in an “emergency” situation it doesn’t need to be accountable for its actions.
The Obama administration calls this “transparency.”
All of this borrowing and spending has nothing to do with assets or unfreezing lending. It has to do with debt, the interest owed on debt, and expanding a government owned lock, stock and barrel by an international banking elite.
“If you believe that bigger government will solve our troubles, borrowing more money will solve the quandary of too much debt, giving your tax dollars to the worst run banks and corporations is good policy, letting government choose the winners and losers in banking, autos, and energy is a good scheme, debasing the currency is a fine idea and allowing government agencies to monitor your conversations and emails makes you safer, then learn to Love Big Brother,” instructs strategic planner James Quinn.