WhatFinger


Who holds our debt? Federal Reserve, U.S Savings bonds, China

Speaking of lies



As frustration with being relegated to minority party status grows, the leftist lies spewing out of Washington are increasing. In Wisconsin, the thug-left takeover of the state capitol is being spun as a democratic uprising of the workers, rather than a totalitarian trampling of the law and the will of the voters. The governor of Wisconsin was elected by the majority and is doing exactly what he was elected to do. This lawlessness, not surprisingly, is being egged on by the Kenyan/Usurper in the White House, who claims it’s an attack on unions. Would that it were! Busting the public employee unions would go a long way toward alleviating state and federal budget deficits.

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Funny I should mention deficits. So happens, that’s what one of the biggest lies yet is about. Not all lies are the easy to spot like the ones Obama, Pelosi, and Reid tell all the time. Some are very subtle lies of omission. Like this one: “China is the biggest holder of our public debt. When the government borrows to finance more deficit spending, it borrows from foreign countries.” Up until a couple of days ago, I thought this was true. Then I read an article by David Bond, editor of Silverminers, a silver mining industry publication out of Wallace, Idaho ( Silverminers). In it he listed the 15 largest holders of America’s debt. China was only third, with $895.6 billion. Second is holders of U.S Savings bonds - that’s you, me, our kids, and grandkids – totaling $1.458 trillion. The debt held by the #1 lender is a massive, economy and budget crushing $5.351 trillion is held by…our very own unauditable, unaccountable, untouchable, privately held Federal Reserve. They are the ones profiting inordinately from the ever-growing interest on the national debt, not the Chicoms. They are the ones manipulating the currency and interest rates, driving our debt ever upward, our economy ever downward. They are the ones who will reap even more massive “windfall profits” from raising the borrowing cap. And they are the ones who the Democrat “leadership” refuses to audit, or apparently, even monitor. There is a video of a hearing in which a Democrat Congressman and former prosecuter, Alan Grays of Florida, questions Elizabeth Coleman, Inspector General, Official Watchdog of the Fed, about where all the hundreds of billions of taxpayer money tossed around by the Obama cabal has gone. This should terrify you. (May 12, 2009)

Our good friend Ron Paul, and many others, have been warning for years that the Fed is the source of most of our economic woes. Now, the discovery of the massive profits they have been wringing out of the American taxpayers, at the expense of America’s economic health, and the apparent refusal to allow us, the source of their ill-gotten wealth to even look at the books, should outrage even left-wingers. These human ticks have been sucking our blood for far too long. What we have seen under Obama is the appointment of an admitted tax cheat and former Fed executive to running the Treasury Department, followed by what can only be characterized as looting of said treasury by his and Obama’s cronies. There is nothing in the Constitution that allows for the Federal Reserve, a private cabal of banks, to do what it has been doing since its establishment – along with the unconstitutional income tax – in 1913. Congress should get behind Ron Paul and support his call to completely, thoroughly, and without mercy, audit the Fed, as a prelude to seizing its assets and dismantling it as an ongoing criminal enterprise. The lie that the Fed is needed, or is acting in the best interests of the majority of Americans is one of the biggest, and needs to be exposed, now. We must tell the truth ourselves, and demand it from our government.


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Michael Oberndorf, RPA -- Bio and Archives

The son of a German immigrant, I am an archaeologist by profession, with a BA from Metropolitan State College of Denver, and an MA from Leicester University, in England.  Over the years, I have lived and worked all over the country, and traveled in Canada, Mexico, Central and South America, Europe, Australia, and Japan. I sincerely believe in the old saying, “America, love it or leave it.”


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