The Fascist Coup Is Nearly Complete
By Greg McCoach | Sunday, September 28th, 2008
The fascist coup in the United States is nearly complete.
Over the past few years the U.S. government has abolished countless freedoms of the American people... all in the name of "national security."
They've spent trillions of tax dollars - forced upon citizens under penalty of imprisonment - on an imperialistic military to fight an un-winnable war on terror, while all but neglecting our growing domestic problems.
The government and CONgress protects big business to create a symbiotic business/government relationship giving supreme power to the corporate elite.
And to top it all off, they've controlled mass media (notwithstanding the internet) to put a lid on the truth.
But don't worry. They're looking out for your best interests.
One Small Step for Elitists, One Giant Leap for Fascism
Unless you've been living under a rock for the past few weeks, you've heard the U.S. government has now nationalized the entire mortgage industry with the acquisition of Freddie Mac and Fannie Mae. And now, it hopes to siphon $700 billion from American taxpayers to buy up the bad debt of financial institutions for the next two years.
Now, take a second or two... and think about how much $700 billion really is. It's seven hundred thousand million dollars! $700,000,000,000.00
Another perspective: It's enough to give every man, woman, and child in the city of Philadelphia a half-million dollars.
Listen... that $700 billion figure represents about 5.2% of the entire U.S. gross domestic product in 2007.
If approved, the bailout would raise the statutory limit on the national debt 6.6%... from $10.6 trillion to $11.3 trillion.
And what will U.S. taxpayers like you and I get in return?
Nothing. Zip. Zilch. Nada.
- There are no plans for new regulations or oversights to help avoid this kind of crisis in the future.
- There'll be no public interest givebacks to help the people whose homes are in the hands of the banks.
- And, perhaps most shockingly of all, we will get absolutely no share in the profits if these fallen-from-grace financial giants bounce back... even though we are now assuming a great deal of the risk.
The new rescue plan may restore a bit of investor confidence to battered financial markets. But investors will again begin to focus on the twin budget and current-account deficits and negative real U.S. interest rates. And eventually the government's plan will derail the dollar's three-month rally, which is, in effect...
The One Last Hurrah for the U.S. Dollar
The greenback has already started to retract. The U.S. Dollar Index, a measure of the value of the U.S. dollar relative to a basket of six foreign currencies, has pullback as much as 5.6% in the past two weeks.
Gold prices have certainly enjoyed the descending dollar. Gold has recently broken several daily movement records, including a $90.40, 11.6% one-day increase the other day. As a result, gold and gold mining stocks are starting to come back to life.