TBD on Ning

Inquiring minds want to know: Is Obama trying to bankrupt America? One short year ago, asking this this question would have guaranteed my inclusion among the ranks of right-wing nuts and/or conspiracy theorists. Today, it is a serious question being asked by Neal Boortz, Rush Limbaugh and many other leading conservatives. Here's why.

In the summer of 2008, as John McCain and Barack Obama were campaigning for president, a series of economic events (started by Sen. Schumer) resulted in shifting the focus of the presidential campaign off the Iraq war, and on to the economy. These events ultimately resulted in Barack Obama's election as President.

June 26, 2008: Democrat Chuck Schumer leaked a memo questioning the solvency of IndyMac bank. This memo precipitated a run on IndyMac which led to its failure. Federal regulators pointedly cited U.S. Sen. Charles Schumer, D-N.Y., in explaining the bank's failure. "The immediate cause of the closing was a deposit run that began and continued after the public release of a June 26 letter to the OTS and the FDIC from Senator Charles Schumer of New York."

This event, coupled with the Lehman Brothers collapse in September, marked the beginning of the current economic meltdown and provided the ammunition for massive government intervention in the private market.

July 12, 2008: The federal government takes control of the $32 billion IndyMac Bank. *

Sept. 6, 2008: Fannie Mae begins its downward spiral, which will end with a crash in November. This crash was avoidable, as the problems with Fannie Mae and Freddie Mac were identified in June of 2006, when 15 Republicans on the Senate Banking Committee introduced legislation to address the problem. Democrats, led by Barney Frank, killed the reform efforts.

Sept. 15, 2008: Obama and McCain are virtually tied in their race for the presidency. Out of no-where, in the space of less than 2 hours, the Federal Reserve noticed a tremendous drawdown of money market accounts in the U.S. to the tune of $550 billion. Rep. Paul Kanjorski of Pennsylvania said that if authorities had not closed the banks, $5.5 trillion would have been withdrawn from US banks, which would have caused the collapse of the US within 24 hours.

This seminal event marked the ascendancy of Obama's candidacy, and eventually resulted in his election as president.

Its no secret that Obama is a member of the far left. And he has staffed his administration with fellow ideologues. Leftists, like former Green Czar Van Jones, who states he is an "advocate for a socialist utopia." Who believes that capitalism is "oppression and exploitation."

People like Ron Blume, who was appointed to reinvigorate the manufacturing base, who states, "We know the free market is nonsense."

Any economist can tell you that raising taxes, increasing debt, printing money and unbridled spending is not the way to handle a recession. So either Obama is ignorant of this, or he willfully chooses to ignore the lessons of history. Or he is adopting a strategy outlined by Cloward-Pivens: Overwhelm the system until it fails, and then replace it.

Based on Obama's actions to date, reasonable people must allow for the possibility that the change Obama promised may include destroying the free market economic system in order to replace it with an economy regulated by government entities.

Spending America into bankruptcy might just be our president's way of leveling the global playing field. By bringing Americas to its knees. Based on Obama's actions, and the actions of his appointees, its time to seriously consider if destroying our economy is Obama's goal.

*Portions of this article were taken from A Contrived Crisis? Feb. 23, 2009

Nancy Morgan is a columnist and news editor for RightBias.com
She lives in South Carolina

Tags: Obama, crisis, economy

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This article isn't about Bush - and its intellectually lazy to brush off legitimate complaints of bad behavior by citing someone else's bad behavior
Obama is squandering the common man's money to bail out his buddies at AIG and Goldman Sachs. Calling it 'stimulus' or 'jobs bill' doesn't change that fact.
(sigh) The USA has already been bankrupt a long while ago.
Under the doctrine of Parens Patriae (Government As Parent) as a result of the manipulated bankruptcy of the United States of America in 1930, ALL the assets of the American people, their person, and of our country itself are held by the Depository Trust Corporation at 55 Water Street, NY, NY, secured by UCC Commercial Liens, which are then monetized as "debt money" by the Federal Reserve. It may interest you to know that under the umbrella of the Depository Trust Corporation lies the CEDE Corporation, the Federal Reserve Corporation, the American Bar Association, the legal arm of the banking interests, and the Internal Revenue Service, the system's collection agency.

I pass this building when I have to do business with the TRS (Teacher Retirement System)

Thomas Jefferson once said:
"I believe that banking institutions are more dangerous to our liberties than standing armies . . . If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] . . . will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered . . . The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." -- Thomas Jefferson -- The Debate Over The Recharter Of The Bank Bill, (1809)




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