You gotta read this article from the Scotsman. Thank God the Fed is not talking about bailing out Lehman Brothers. Maybe they heard the thundering bitch from America's taxpayers.
Pray for America and never lose faith. It has to get worse to get better. We've got the internet this time. We didn't have it in the 1st Great Depression.
The silver lining is that finally America is waking up to what the Fed really is...a cartel of international bankers intent on enslaving the middle class.
Monday, September 15, 2008
FED CALLS ALL POINTS BULLETIN: How the Masters of the Universe ran amok and cost us the earth
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Kurt sent this to me today by email, please read:
A victory for liberty and for what is left of our free market......
The Glories of Change
by Jeff Tucker
September 15, 2008
The events on Wall Street, the collapse of Lehman and the selling off of Merrill, are magnificent and inspiring events. What we see here are examples of sweeping and fundamental change taking place, a huge upheaval that affects the whole of society, and toward the better, since what we have going on here is a massive reallocation of resources away from failing uses toward more productive uses.
Hundreds and hundreds of billions of dollars are on the move, sweeping all before them. And yet take note: it is not war accomplishing this. It is not violence. It is not the result of a planning committee. No election is necessary. No terrorist act took place. There was no government edict.
The agent of change here is that composite of all the world's exchanges that relentlessly shove resources this way and that way, so that they will find their most economically valued uses in society.
No one person is in charge. Layers upon layers of decisions by millions and billions of people are the essential mechanism that makes the process move forward. All these decisions and choices and guesses come to be aggregated in a single number called the price, and that price can then be used in that simple calculation that indicates success or failure. Every instant of time all around the world that calculation is made, and it results in shifts and movement and progress.
But as wonderful as the daily shifts and movements are, what really inspires are the massive acts of creative destruction such as when old-line firms like Lehman and Merrill melt before our eyes, their good assets transferred to more competent hands and their bad liabilities banished from the face of the earth.
This is the kind of shock and awe we should all celebrate. It is contrary to the wish of all the principal players and it accords with the will of society as a whole and the dictate of the market that waste not last and last. No matter how large, how entrenched, how exalted the institution, it is always vulnerable to being blown away by market forces -- no more or less so than the lemonade stand down the street.
The need for dramatic shifts is essential for progress. But adapting to changing conditions and becoming an agent of that change, staying with the curve and jumping out in front of it -- this is the real challenge. Enacting change -- any kind of change but especially big and fundamental change -- sometimes seems impossible in this world. We all desire it and know it is necessary. Seeking the reality of rebirth has an appeal. But finding the mechanism to make it happen is hugely difficult.
Try to change an institution from the inside and you will meet resistance around every corner. Bureaucracies are nearly impossible to change. Even firms in private enterprise are reluctant to adapt, and have to be pushed and nudged by the accounting ledger or no movement happens. Churches and other charitable organizations can whither and die without periodic and fundamental change and upheaval. Many institutions grow up around the principle of stability first. The organizational structure tends in the direction of the protective mode,with everyone burrowing in and resisting doing something different today and tomorrow from what he or she did yesterday and the day before. Inertia is the default.
How to break away from this problem is a great challenge. The theory of democracy was that we would have a voting mechanism to enact and force change, but the problem is that votes and personnel shifts bring a change in the look and feel of government but do not get below the surface. Wars and revolutions yield change but at too great a cost. The change wrought by markets goes to the very core of the issue. It makes and breaks whole institutions,sometimes overnight. And it does so in a beneficial way for the whole, without blood and without the risk of unanticipated calamity.
All the plans of big shots, all the desires of our governing masters, all the wishes and dreams of people who imagine themselves to be larger and more important than the rest of us, melt like snow on a sunny day.
In this sense, the market is the great leveler, the force in the universe that humbles all people and reminds them that they are no more important than anyone else and that their wishes must ultimately be shelved when faced with the overwhelming desire on the part of market traders that some other reality emerge.
For this reason, everyone has reason to celebrate the end of Lehman and Merrill.Overnight, while we slept, the seemingly mighty were humbled, the first made last and the last made first. The greatest became the least, all without a shot being fired.
This was published by the Mises Institute: http://mises.org/story/3109
Dead on about the Internet, girl:
In the 1950's John Von Neumann and his friends invented the first computer. This was the ENIAC and it was huge and used tremendous amounts of electricity. By 1965 IBM had created the first business computers and by the late 1970Õs the personal computer was born.
The Pentagon invented the first Internet for military purposes. Like Gutenberg's printing the Bible, the military's initial use of the Internet was evidence of who was in power at the time of the invention.
The Internet will undermine everything around us just as surely as Gutenberg's printing press did.
The Internet is Gutenberg's printing press multiplied by a few million.
The mass realization of what we have done to ourselves will shake the old structures that have held us together. Already they have developed fissures and their collapse is imminent. Each day brings us closer to the moment when enough intelligent people actually figure out exactly what is going on and do something about it.
At this moment it is difficult to say what will happen and when. The kettle had been boiling for a long time and it appears as if the lid is going to fly off at any moment.
But make no mistake. The Smart revolution is coming. It is only a matter of time now.
And this will not be a socialist revolution, or a rebellion of the workers.
This will not be a war between classes or races.
This will be a rebellion of the intelligent.
And that is why the Controllers are so afraid.
How to break away? We the people have to make a big uproar over this.We have a derelict justice dept, as members of the U.S. government both sides of the isle are up to their your know what in this. I want to see some indictments come down and heads to roll. In particular the Fannies, old democratic hacks running this into the ground and walking away enriched. I now see why Sarah scares them to hell- when she said she fought the good old boys in her own party no less and won. That one statment must of sent shivers down the roaches spines. Public, don't just sit there start writing and calling for justice. That effort doesn't cost you a dime. This time drop your politics and do what is right.
MB
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