Ponderstorm My Brainstorm on Life & Politics

Beware, the Obama Administration is trying to bypass Congress and nationalize the United States banking system! This unconstitutional scheme is being done through financial maneuvering efforts that don’t make sense to most of us. In short, the Obama Administration is seeking to convert government loans into equity stakes of common shares of stock (with full voting rights) that are owned by the federal government — particularly the Treasury Department which is under the Executive Branch. This scheme would immediately make the government (i.e. the Obama Administration) the largest shareholder in several of our nation’s largest banks. It appears banks will have not a choice in this loan for stock conversion scheme.

This maneuver was done to Citigroup in January when up to $25 billion in preferred stock (which was basically a loan) was converted to common stock. This gave the government equity ownership including full voting rights. This move is a done deal!

Some think of this as a “backdoor to nationalization” approach. Whether it’s backdoor or frontdoor, the result is banks that are essentially owned and/or controlled by the government. Such a move allows the federal government to control everything from the printing to the supply to the flow of money within our economy. Bank ownership would mean the government would be directly responsible for setting rules and policy regarding creditworthiness, lending terms, qualification for mortgages, interest rates and so much more. That is a very, very scary thought.

Furthermore, the federal government seems to be actively seeking this position of power and is  putting conditions on the repayment of bailout funds that make it impossible for banks to repay these loans unless the government decides that their repayment is in the “national economic interest” whatever that means.  Sounds to me like the federal government is putting a stranglehold on the banks. Remember the federal government “borrowed” the bailout money that they received to inject into the banks. In effect, they are taking the banks over with nothing but paper.

A free people must have control over their own money. Any government that takes this power from their people enslaves them and controls their destiny. As Americans, we must never allow this to happen to our banks. We cannot give this up.

While it is true that our401Ks are worth less now than they were last year, they are not worthless. If the government gets their hands on them they will have even less value — the value will be whatever the government and not the market says it is. Remember, this is the same government that runs the Social Security system which is already worthless for most of today’s workers under the age of 45.

Beware, lest the fear of losing our money lead us to turn it over to the greedy hands of government. Instead, let us fear the loss of our money (and our freedoms) to the government. I urge you to contact your members of Congress and demand they stop this power grab from the Obama Administration controlled Treasury Department (which is headed by a tax cheat — learn more [28 page .pdf document]).

Take Action Now:

• Write your Representative
• Write your Senators

Posted under Barack Obama, Economy
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On PonderPost I cataloged some of the major public policy changes we’ve experienced under the Presidency of Barack Obama in an article entitled “Yes, With Obama We Got Change.” These changes are significant departures from those of President George W. Bush.  In each case I provided a source so you don’t have to take me at my word. My sources were varied and included both liberal and conservative venues as well as traditional news media outlets. The amount of change, I might add, has been staggering and makes me fearful for the very safety of my country. I invite your review and comments.

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American Solutions, in partnership with the Nationwide Tea Party Coalition, is sponsoring nationwide Tax Day Tea Parties for April 15, 2009. The purpose is to “communicate our anger and opposition to the irresponsible policies of politicians in Washington who have failed to solve problems.” American Solutions continues: “More importantly however, this is our opportunity to clearly define a bold, new agenda and to tell our elected officials that they can either work with us, or find new jobs.”

I’m very concerned about our incredible national borrowing and spending. I’ve been concerned for decades about the size of the national debt; however, the almost exponential rate of increase seen over the past few weeks is staggering and unsustainable. We cannot spend our way out of debt but we can spend our way into slavery.  We’re rapidly approaching the point of national bankruptcy with debt accumulation patterns that resemble a third world dictatorship. This simply must stop.

I’m also very concerned about the erosion of our rights. Companies are being nationalized. Private corporate leaders replaced. Banks have been forced to take federal money and then not allowed to pay it back (which allows the federal government to exercise direct control).

As for my reaction, I’m slow to anger and don’t want to knee-jerk into protest mode. However, I’m not sure what else will get our leaders attention in Washington. I smell a rat when they pass legislation without allowing anyone to read it first. When they ignore minority party input and play hardball even with dissenting members of their own party, I know something is wrong. When our tax cheating Treasury Secretary and bowing to the king of Saudi Arabia President force businesses to remove their own leaders and nationalize banks, I know we’re losing our freedoms quickly.

The bottom line is something needs to be done while we still have the resources and freedom to do something. After studying the successes of the Civil Rights Movement, I feel that non-violent protests are in order. In any protest, though, I feel it is wise to offer a clear and reasonable alternative to the situation being protested.

So, with that in mind, I offer some solutions for the American Economy in 2009.  I first share the 12 American Solutions for Jobs & Prosperity offered by American Solutions as a start and then add 8 more of my own (which in a few cases somewhat overlap with the first 12). Read More…

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In an effort to support the launch of PonderPost, I wrote an article that I would usually publish on Ponderstorm so I wanted to tell Ponderstorm readers about it. Entitled The Obama & Biden Gaffe Machine, this post discusses a top ten list of gaffes committed by our President and Vice President as compiled by a British journalist at the Telegraph. Special emphasis is placed on Obama’s recent gifting fiasco with British Prime Minister Gordon Brown and Obama’s Special Olympics joke last night on the Jay Leno show that offended many. There are two embedded videos.

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Sometimes cartoons say things better than a thousand words. Using the Star Wars Death Star metaphor, I think this one speaks volumes.

I’m not sure who to give credit to for this cartoon. I came across it through Patriot Humor (there’s 3 other cartoons there as well).

Posted under Barack Obama
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