It's NOT $700 Billion it's a $3.5 TRILLION Bailout

Bailout Price Tag: $3.5T So Far, But 'Real' Cost May Be Much Higher

Yahoo Finance News

"Yes, $3.45 trillion has already been spent, as Bailoutsleuth.com details:

• $2T Emergency Fed Loans (the ones the Fed won't discuss, as detailed here)
• $700B TARP (designed to buy bad debt, the fund is rapidly transforming as we'll discuss in an upcoming segment)
• $300B Hope Now (the government's year-old attempt at mortgage workouts)
• $200B Fannie/Freddie
• $140B Tax Breaks for Banks (WaPo has the details)
• $110B: AIG (with it's new deal this week, the big insurer got $40B of TARP money, plus $110B in other relief)"

Financial Expert Max Keiser on the Bailout

Catherine Fitts IRTA Barter Convention

Fed Defies Transparancy Aim in Refusal to Disclose
Bloomberg
"The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.
". . .as the Fed lends far more than that in separate rescue programs that didn't require approval by Congress, Americans have no idea where their money is going or what securities the banks are pledging in return."

[refusing to disclose and using public monies without the approval of Congress is criminal enough but wait, I thought the bailout was only for $700 billion?]

Dems Target Private Retirement Accounts
Carolina Journal
"Democrats in the U.S. House have been conducting hearings on proposals to confiscate workers’ personal retirement accounts — including 401(k)s and IRAs — and convert them to accounts managed by the Social Security Administration."

"You are this universe and you are creating it at every moment. Because you see it starts now."

Letter to fellow NJ teacher regarding the peril of our state pension funds

Dear __________,

I wanted to share something with you that
I'm very concerned about that affects myself
and every teacher and employee of the state
of NJ. I'm referring to our pension fund.

I don't know if you are aware but as of July
of this year our state pension "funds still
fell $28 billion short of the amount actuaries
projected they need to cover the longterm cost
of benefits promised to current and retired 
workers."


And with the current economy spiraling our of
control the news media reported on Oct. 8th
that "the value of pension funds and retirement
accounts dropped by roughly $1 trillion."

Two days after that the Wall Street Journal
reported that investors have lost $8.4 trillion
in the U.S.
"The market rout in the U.S. is rapidly 
wiping out vast amounts of wealth,
casting a pall over households and 
businesses"

It doesn't look good for our pensions to say
the least. To add insult to injury NJ state
does NOT disclose where our monies are being
invested and we are required by law to
keep our money in it unless we quit the job.

If this concerns you, please spread this
information around to every NJ teacher and
NJ state employee. My fervent hope is that
the the NJ teachers and employees will wake
up to this and demand that our money be
withdrawn from the bad investments that
they are currently invested in.

This is our life savings they and we are
allowing to be stolen!

Thanks for reading.

Solutions to the economic crisis : Catherine Austin Fitts on going local

Former high level government official
and former wall street banker Catherine Austin Fitts
on Flashpoints Radio talks about how banking with the
big banks/investing in the big corporations will further destroy us economically and how banking/investing local can radically change things for the better:

"This [financial crisis] can't happen unless we as a society
allow it to happen."

click here.

then click on Wed. Oct.22 show and go to the 6:00 mark for interview.

then go to the sidebar of this blog and click on "Take Action: Bank Intimate"
and learn how to find a solid local bank.

40 Acres and A Dream

The Plight of Black Farmers In the U.S.

700 Billion Is Nothing!

IAEA chief: Iran not close to developing nuclear weapons
Haaretz and the Associated Press

"The head of the United Nations nuclear watchdog agency said on Monday that Iran remains far from acquiring capabilities to develop nuclear weapons.

'They do not have even the nuclear material, the raw unenriched uranium to develop one nuclear weapon if they decide to do so," ElBaradei said. "Even if you decide to walk out tomorrow from the non-proliferation treaty and you go into a lot of scenarios, we're still not going to see Iran tomorrow having nuclear weapons.' "