Management of Wealth in the USA -Part I

B A L D E A G L E J O U R N A L

AMERICAN ESSAY SERIES Copyright (c) TFG 1995-1998

M Y N A T I O N I M P A I R E D !

by C. S. Franklyn

THE MANAGEMENT OF WEALTH IN THE USA Part I - A

We need not wait for History to be written to understand How and Why all these events have happened. First, to promote a vigorous Economy, Federal laws were written to encourage and reward unwise and reckless spending by creating liberal and in fact, a reckless and exploitive CREDIT System. Yes, saving money is a restraint of trade! Liberals believe it is unpatriotic to preach frugality and accountability! Yes, denying credit to a known crook and deadbeat is considered to be mean-spirited and unfair! As some of us now realize, the World is upside-down!

America is a business-oriented (i.e., capitalistic) community. A prevailing impression by our Leaders is that everything possible should be done to promote more and more GROWTH. Managed Growth is bad policy! It cannot function or exist without Money. YOUR money, especially! 70% of our Economy depends on the Consumer spending everything he earns plus $15,000 that each person must Borrow! But, remember, CREDIT, having become a mind altering narcotic, has been politicized by the Liberals and Socialists the same way they have politicized Education, Healthcare, HOUSING, etc. These changes are the result of CREEPING SOCIALISM in the USA that the KGB rightly predicted in the 1980s as the Soviet Union went into temporary dormancy!

The KGB concluded that forces were at work in the USA that would ultimately change it into a Socialist country. They understood better than the rest of the World how the Jew retailers and bankers could eventually turn every Consumer into a modern-day Indentured Slave! All that was required to make this change was to preach the joys of a FREE Marketplace, thereby, eliminating Caution and Personal Accountability! We passed that sign-post in 1993 -- the beginning of the current Clinton Era and the restarting of The Baby Boomer Revolution!

The Federal Reserve Board's policy of keeping interest rates at abnormally low levels during the current economy is proof enough that a fair return on savings for Ordinary people is of no concern to the Board, the financial services industry and certainly not by President Clinton and the Democrats. Low interest rates encourage more mindless borrowing!

After all, banks can charge us any interest rate when we borrow! The prime rate has nothing to do with what banks pay You and Me on our savings or CDs. There is no real regulation of our Monetary System due to a Jewish ideology of SELF-REGULATION and the moderating influence of SELF-INTEREST! Today that rate is set as low as possible (i.e., whatever the banks can get away with!). The new tactic is to force savers to move their money into higher risk equity investments. This is the direct result of Congress changing banking laws that permit banks to get into the brokerage business. Unwittingly, members of Congress vote as their leaders tell them which permits many stupid laws to be passed -- laws that harm YOU and ME, not help. They never consider the plight of Seniors who live on shrinking Fixed Incomes!.

In fact, the new regulations have forced many Seniors to move IRA savings into higher risk equity funds. Many Seniors remember The 1929 Stock Market Crash as I do. A large number of them fear it will happen again! I agree because CREDIT and GREED on the part of the Boomers who now run this country are already Out-of-Control! When globalization is fully realized (circa 2003-2020), a world economic collapse very similar to "the 1929 Crash" is quite possible. It can happen any time for one important reason: the American financial industry, principally New York banks, who loan millions to other countries through the International Monetary Fund and bundled Mortgage Paper, does not hesitate to force The White House and the Treasury to loan money to high risk over-leveraged clients and high risk home buyers in this country.

The real crime is how we Taxpayers have become the guarantors of every RISK TAKING millionaire involved in the financial services industry! Who did that? In the beginning, it was the Liberal Democrats when they controlled the Congress -- continuously -- for seventy years! Now, with pro-Israel factions running Congress and BOTH PARTIES, WE HAVE BECOME VICTIMS. NO ONE IS WATCHING THE STORE AND MOST AMERICANS ARE LIVING THE AMERICAN DREAM -- on CREDIT!

We -- the American people who work or have assets -- pay off everybody's debts when a default occurs. To assure the Integrity of this strategy, executives like Bob Rubin from the New York banking/investment industry are appointed by the U.S. President as Secretary of the Treasury. The Saving & Loan Banks Bailout and the huge loans to Mexico in 1993 and the impending loans (1997-98) by the International Monetary Fund (IMF) are good examples of this. The movement of these billions of dollars creates huge profits for the investment bankers in New York City. Ah, the joys of Self-Interest, New York Wall Street style! But where is OUR Self-Interest -- YOURS and MINE?!

When the President -- guided by The FED, his Economic Advisors and the Treasurer -- all Jews -- authorizes huge payments to "bailout" another country, he is really giving guarantees & the money to the New York banking institutions. We, the Citizens of the USA, save the banks from the losses and, further, guarantee that the bankers keep their millions of dollars in fees, interest, bonuses and other huge incentives. Those who approved bad loans are never harmed! This shameful system is the result of Wall Street Professionals taking "possession" of the American Economy. Such a move is the prelude to taking over the assets of USA! They will become our Landlords soon -- once Congress repeals the Glass-Steagall Act of 1933!

This process reflects a philosophy on investing that permeates American money matters: loans are made to collect fees and service charges (i.e., profits!). The fact that an Individual or Country is a bad financial risk is irrelevant as long as the USA Citizen pays off any losses! And the fees! Don't forget the FEES & COMMISSIONS!

Keeping money circulating, noted earlier, is a fundamental strategy of the Federal Reserve System. If it can be spread across the entire population, it serves to placate politically sensitive problems: chronic poverty, Freeloading, need for affordable housing, for example. Keeping the stock market "overheated" with shamefully over-valued stocks is nothing more that Politics of Deception and Greed -- the most reckless kind! With help of FED CHIEF Alan Greenspan this "irrational exuberance" (his phrase), like acid, is eating its way into our Economy's vital organs! IT CANNOT LAST MUCH LONGER!

But it has worked in the 90s because Boomers are recklessly investing in technology stocks. They all dream of getting in on the killing such as occurred when Xerox and IBM boomed following WW-II. Greed has been replanted everywhere throughout the USA -- and the entire Global Business Environment! A QUICK BUCK is the new American Dream, once the sole ambition of Wall Street Pros. The result is a Nation being divided more and more in terms of Personal Wealth and Class!

The key to the success of our Economy is Consumer Confidence, a psychological factor that is measured daily by those who try to stay ahead of the curve in the Stock Market. Politicians -- especially the current Clinton regime -- have controlled Consumer Confidence by 'fixing' the economic indicators many of which are never released until it is approved by those who are responsible for the Federal government -- chiefly, the Treasury and The Clinton White House. This tenuous system of inflated and deceptive indicators, however, can change overnight if the Republicans win the 2000 Election. Reason: those who control the money supply can easily tighten up on money and with the help of the Liberal Media they can throw the Consumer into a panic overnight. When elections put Conservatives in office, the bankers can pull strings to begin a Recession as one might turn a valve and turn off the water from a huge dam!

In this present atmosphere of Good Things for Almost Everyone Maybe, fiscal conservatism becomes a dreaded social disease. Discipline over the system is exercised by one institution: the Federal Reserve Board of Governors, a politically appointed private super banking network composed of economists, academics and the like. The economic environment they control is viewed in terms of statistics not human beings. Their principle function is to punish those who save by lowering interest rates. The beneficiaries are those who will borrow to invest more money in the Stocks and Bonds! If Wall Street does not like where the Interest Rate is, it will stage its own demonstration of its anger! Such demonstrations usually intimidate the Politicians and Congress and the President will do whatever the FED Chief (i.e, a Jewish GURU) decides! Result is very few Regulations, permitting New York Bankers to milk the system with little oversight! The SEC enjoys the same freedom!

In turn, they encourage more and more debt for those who borrow. After all, borrowers are an essential part of the financial industry -- the bees who bring the honey to the hive! One way or another, their debts will be paid -- usually by the rest of us, the worker bees. We now have a growing population of FREELOADERS -- minorities and illegals -- who are protected by the Liberal Democrats in Congress. More and more, I now see Conservatives joining in this move toward placating a growing UNDER CLASS!

UPDATE: LOW INTEREST RATES
(This process during the 1992-98 period has been remarkable for the consistency with which interest rates have been held to a 1950s level by Greenspan. Ordinary savings accounts earn about 1.2% or less today! And this rate advantage is enjoyed by a generation that earns four times the wages and salaries of my generation! Such a policy is favored by the Economists in the Senate like Senator Sarbanes because it takes away the earnings on savings built up by retired Americans who took advantage of the Individual Retirement Account system promoted by the Reagan Administration. The Republicans giveth and the Democrats taketh away! It is a Rule that seems to be inviolate!

Amidst the assertions of the enigmatic Greenspan, Chairman of the FED and a Guru of the New York Banking industry, we see a clear message that confirms our viewpoint expressed here. Greenspan has had a dozen or more opportunities to raise interest rates but does not because he tells me that "inflation is virtually non-existent"! Employment is at an all-time high and the Economy is seriously overheated which should be a good reason for raising interest rates so those who save or have IRA accounts could enjoy the current boom, also! But Boomers don't like Seniors! Even a Boomer Republican government would minimize Senior earnings on savings and blatantly brag about the low interest rate! GROWTH is everything, equanimity is stupid!

Seniors are the most maligned class of people and not one person in Washington is concerned about the harm done to those on Fixed incomes which are NOT REALLY FIXED! THEY ARE SLOWLY EVAPORATING BECAUSE OF A FEDERAL RESERVE POLICY TO DEVALUE THE U.S. DOLLAR'S BUYING POWER! WHY? TO OVERCOME THAT SLOW LOSS OF VALUE, YOU ARE FORCED TO KEEP IT IN WALL STREET'S STOCKS AND BONDS OR SOME OTHER KIND OF FINANCIAL SPECULATION THAT MAKES EVERYTHING WE BUY MORE AND MORE EXPENSIVE!

The fact that the Economy looks like it is the best in years, that worker pay has increased consistently, that unemployment is at a historic low, that the Stock Markets are at historic highs, banks are awash in profits and bonuses and corporate profits and Executive compensation is the highest in History, Greenspan believes those who save conservatively -- mainly elderly people trying to protect their small nest eggs -- should NOT participate in this current Boom! Why? Either Greenspan is mad or he is part of the Conspiracy to bring down this government? When did the interest rate become a sole, arbitrary reflection of inflation? Such specious thinking is but one of the insidious attitudes of Boomers toward their parents! Yet Greenspan, who is only 8 years younger than I, has cooperated with Clinton and slick Bob Rubin! There is a reason for all this but I cannot uncover it as yet! BUT -- like murder this ugly conspiracy will finally be revealed and You and I will learn too late, what part of the Economy they have raped!

Since there is no inflation at this time, the FED believes Savers should only receive earnings on their accounts at 1950s level? Come now, Pilgrims, you know there is a better reason than that! What is it, Dr, Greenspan? How long do we have to wait for you to confess to what is going on?!

What he and his political compatriots (Clinton/Rubin) have not stated is that, so far as Seniors are concerned, since they receive Social Security and are covered by Medicare for which they pay a heavy premium including Co-pay, they are ALREADY being well cared for. This attitude underlies all considerations of Seniors by the Clinton Administration. Today, Senior citizens are the major victims of economic discrimination! In a major Economic Crisis they will be the first to choose suicide! Perhaps, euthanasia would be a more humane option! That, too, is coming once young Jew Socialist seize power in Washington!

Be reminded of an old cliché: What you DO speaks so loud, I cannot hear what you SAY!"

Seniors should be smart enough to see through these manipulations. But most of them see nothing. The Clinton-Gore Liberals use fear to control this large segment of the population. And, yet, it is the America built by those Seniors that Liberals are letting Go To Hell!

An analysis of the FED's monetary position is interesting. In brief, Greenspan's reasoning on keeping interest rates low, noted earlier, is predicated on the Inflation rate. Apparently, he believes that what Seniors can get from their bank in a Money Market type savings account is SUFFICIENT. That amount in April 1998 is (typically) varies from 2.0% to 2.8% on an insured account. If we had an inflation rate of 4.0%, he would let the interest rate rise SOMEWHAT, thereby helping to balance out the loss of buying power, a result of rising inflation.

Aha! -- suddenly we see how the game is played! Keep in mind that the Customer also pays the insurance premium on those insured accounts! Inflation is mainly caused by a FED policy to gradually devalue the U.S. Dollar via printing more and more paper money to adjust available "pipeline" cash. I repeat this point for a good reason!

The FED (ala Greenspan, Rivlin and Rubin) has arbitrarily decided that Seniors are adequately rewarded at the 2.0% interest rate level when Inflation is ZERO!. This is the Benchmark for money being conservatively saved (i.e., low risk savings). There are several things wrong with the FED's thinking -- not that we can do much about it! Where is the FED's concern for the helpless saver? Wall Street believes people who save or hoard money are unpatriotic just as all the Democrats in Washington believe it is PATRIOTIC TO PAY MORE AND MORE TAXES! We are living among leaders who are FOOLS and CHARLATANS and we better wise up to that fact, Pilgrims!

First, Inflation is NOT ZERO today. When computed on goods and services being purchased by Senior's (65 and up), inflation is running close to 3.34% -- NOT ZERO!. Using the Greenspan formula, if the FED was using a realistic Inflation number, Money Market insured bank accounts would pay AT LEAST 1.5% above the Inflation Rate or 5.9% in this example. This difference is denying Seniors millions of dollars in earnings on their savings! In fact, Greenspan is presently overseeing a policy that is CONFISCATING SENIOR WEALTH! Another instance of CONFISCATING Senior Wealth is how the Nursing Home costs are rising as large corporations are buying up whole Senior Care facilities and putting them in the Stock Market! By 2006, the cost of Senior Care for two will reach $12,000 per month, minumum!

Why is this being tolerated? Why doesn't the Media talk about this rip-off? They are part of the scam ever since 1993 when Bill Clinton arrived in Washington, thanks to a little squeaky voiced graduate of Annapolis by the name of Ross Perot, the nemesis of Bush #41! Let's not forget how these things happen, innocently and then forgotten so quickly!

Since rational thinking is a cyclical event, when we suddenly realize we are "in-hock" up to our ear lobes, our confidence is deflated and a Recession occurs. A minor adjustment, they say. Actually, these cycles are manipulated by a Jewish dominated Wall Street! Usually, these downturns are timed to strike fear into the hearts of the Voter during a National Election. The pattern is obvious but a Jew-owned MEDIA never reports such information! Their Network is an exquisite propaganda machine! And, we are the victims of this huge Zionist Jew Conspiracy!

Perhaps, we should organize our own People's LOBBY and register it withThe Congress like other Lobbyists! We should name it: The American Peoples Lobby! Hey, I am serious! When things aren't right, you must fix the problem! Bellyaching won't solve the Citizens' problem: ACTION CAN ! Do you realize that We, the People, have no recourse to take effective action against a Deaf & Dumb Federal Administration?

(March 18,2009: We cannot wait four years to change things! What is needed is a way to get the attention of The White House and the Congress! How about a TAX REVOLT?)

If a business fails, bankruptcy regulations will hold the proprietor harmless, including minimizing his personal embarrassment -- once the most important deterrent to an individual failing or doing something illegal or wrong. Thousands deserve to feel some form of punishment because they began their new business and borrowed money knowing full well that they would not stay in the business more than two to three years. It is called "contrived or pre-meditated bankruptcy". It happens because there is no such thing as a bad risk anymore! Since Bankruptcy laws forgive the loans, then collect the losses from you and me in many fees and point assessments. Thank your Congress person for that, too! Whose side is he or she on?

Today, you can fail in America and come out smelling like a rose! Laws are on the books and bankruptcy lawyers are waiting. Obviously, such systems invite more exploitation! In fact, every decent law put on the books to help truly unfortunate people can be exploited and abused by savvy crooks! Politicians know this instinctively!

Corporations have similar "safety nets" to ease their failures, conveniently used sometimes to avoid destructive law suits. "Why not everybody?!" cry the Socialists. YOU TOO, ME TOO is their chant. What is Freedom all about anyway, they ask! Everyone, they harangue, should be "held harmless" from every difficulty, every misfortune and every natural disaster. Government, thanks to the Socialists and the Clintons, have carried "Touch and Feel" paternalism to a higher level than ever before! And, the People love it! THE AMERICAN DREAM IS GETTING BETTER AND BETTER!

Why? To begin with: AMERICANS do not, will not and cannot budget their money! The most appreciated Citizen/Consumer is one that is constantly broke and pays those huge interest rates on their dozen or so credit cards! CREDIT IS A MONSTER THAT MUST BE FED REGULARLY LIKE A VORACIOUS ANIMAL THAT NEVER STOPS EATING! Those in the CREDIT CARD business are the gangsters who developed penalties for late payments, today a multi-million dollar bonanza! Before they did that, they reduced the time you had to pay from thirty days to 20 days. Slow postal routes take care of the rest of that slick trick! Late and slow payment of bills is connected to many companies being forced to make short term loans from banks! More FEES for the Lenders and higher and higher costs for everyone!

Many Business Failures are planned or, at least, they are predictable. Bankruptcy laws form this "safety net" by which parties manage to have their debts forgiven even though that have hidden assets like a new Mercedes! They change their business name, reorganize and start a new business in the next town or across the street. Touching and Feeling the pain produces one reaction: less and less personal accountability, less chagrin and the adoption of more inane ideologies by which decent wage earners are bilked and defrauded. Who bails out these spendthrifts and frauds, YOU and ME! Our politicians made it that way without even asking us if it is okay! Who are they primarily protecting? Guess Who: the LENDER, the BANKS!

Serial bankruptcies by the same people repeatedly "use" the system at the expense of the working Middle Class who pays off all these debts via hidden assessments by the banks. Did this fleecing system occur by accident? Not at all! It is planned. And it appears to have been necessary -- politically necessary, that is! Where does the money come from? From another Federal agency called the SMALL BUSINESS ADMINISTRATION! Seven out of ten people who start their own businesses are perennial LOSERS and the Small Business Administration has become a favorite place for many scam artists! This is just another form of WELFARE created by Democrats to entice the votes of another Freeloader group! There are many examples of successful businesses being started through the SBA. Every well-intended economic program by the government suffers from exploitation but the Bureaucracy, under pressure by members of Congress, is forced to "look the other way" while your tax money is illegally stolen!

Laws established to relieve a hardship or misfortune are basically sound. But when dozens of programs become "targets" for scams and promoters and Carny's hold forums in local Holiday Inns to teach locals the art of ripping-off the Government, you have to know it is time to close the doors of those programs. Let's do it! After a one year moratorium, develop a system that makes SBA loans to people of known good character. Forget self-regulation in the USA. My years in the Professional Liability and Business Malpractice field, has proven one thing: WE ARE THE MOST DISHONEST SOCIETY ON EARTH WHENEVER WE THINK NO ONE IS WATCHING! And in this country of Bleeding Heart Liberals, watching is mean-spirited and illegal! Lying is protected, as Rep. Barney Frank will remind you frequently! He should know? He is living proof and poster boy for Lies and Deception in the USA!

Workers Compensation Insurance and The Federal Disabilities Act under Social Security are major "target" programs for fraud. Food Stamps and other Agricultural department programs have paid money to undeserving people for decades. Not to mention thousands of non-farming "farmers" who escape paying fuel taxes. It is safe to point out that probably one trillion dollars (15%-20%) of our National Debt is the result of these despicable frauds. COLLEGE LOAN defaults is another fraud that is hidden from you! How many youngsters now on Federal payrolls refused to pay back their loans? That, too, is hidden by Liberals in the Congress! This is all part of a de facto SOCIALISM that is now operating in your Nation. Such practices only encourage more and more fraud in many other Federal entitlements!

Considering the fact that We the People must pay that debt, these examples are further proof that even the National Debt is a mechanism for transferring your meager wealth into somebody else's pocket. You are not stealing from your children's Future". The Manipulators of our Economy are well ahead of you? They are ripping off Future Generations -- night and day!

When, in the name of budget reduction, the number of auditor/examiners is reduced, irregularities and fraud will increase. Nobody is Watching! When the Congress allowed the Savings & Loan institutions greater freedom and latitude to conduct their businesses, the Congress cut budgets, and the Federal agency cut the number of examiners to audit and discipline those same institutions. Remember up until 1994, the Democrats controlled Congress with an iron fist for 60 years! Using The Great Depression (1926-1950), the Democrats by controlling the House and Senate steadily moved this Nation closer and closer to becoming a Socialist state! When Jimmy Carter became President, the Zionists and the Messianic Baptist joined hands and a powerful lobby -- the American-Israel Public Affairs Committee (AIPAC) -- became the tail that wags the American dog. The damage done by Carter with such laws as the COMMUNITY REINVESTMENT ACT (CRA) is the sinister law that will some day destroy our Economy! It is that law exploited by Black Activists to force local banks to lower standards for Blacks to qualify them for mortgage loans! Even when Sen. Phil Gramm proposed the Gramm-Leach-Bliley Act and tried to moderate the pressures on banks to make irresponsible loans to BLacks and other minorities, Democrats refused to support the Bill because it tampered with the CRA law on the books since 1977. But Senator's Schumer and Dodd saved the day and as a favor to Sandy Weil and Citigroup, the protections in the Glass-Steagall Act of 1933 were repealed and ordinary depositors in community banks again became responsible for bailing out the New York Commercial banks! This is how the Sub-Prime Mortgage Scandal has created the current (2007-2010) Economic collapse!

The burden of this law remains and the fraud associated with the buying and selling of property is yet be revealed. Billions of dollars worth of prime real estate has flowed into the hands of speculators with political ties to Washington. It is another debacle to be released someday -- or maybe never! How long can a rotting fish be overlooked?

Franchise business ventures that declare bankruptcy within a year or two, have been noted earlier. There are few, if any, prohibitions against extending bad credit and reckless loans. That is a matter of discretion by the Lender. Obviously, no one will admit this and they will show us regulations to support their argument. It is where "the deal comes down" where the chicanery goes on! The exploitation of this kind of environment -- for which the Taxpayer and Consumer must pay -- is unethical and immoral. And, not that it seems to matter, it is also illegal! The ugly mind game called RELATIVISM is rampant in Washington especially among the Jewish Intellectuals and all Jews, you may have noticed, who are the self-declared Intellectuals!

But now, negligence in monetary activity has become legal -- an interesting distinction! We do not solve our problems and dilemmas, we merely "fund" them --- with your funds! This kind of solution is exactly what insurance companies have done for decades: fund the risk and take the profit. To Hell with trying to forestall loss! Curtailing the losses could eliminate their entire business so caution must be observed! (I will devote a whole chapter on the subject of INSURANCE, another Jewish dominated Monetary industry, later.) Doctors no longer seek to cure their patients: they cultivate a practice of periodic visits so they can regularly dip into the MEDICARE FUNDS! Doctors require that you visit the office and generate a $200-300 visit simply to have your prescription refilled! Billions of dollars are being drained out of the MEDICARE FUND when there is no medical reason for the visit. Much depends on the kind of medication we are talking about! Some people on stabilized blood pressure medications do not have to see their doctor more than once a year.

Entrepreneurism and enterprise schemes have become rackets, largely due to programs like the Small Business Administration and the CREDIT available via such well-intended programs. This is not to attack the basic reason for the SBA. The faults lie in how our government creates programs without any effort to prevent their improper use, practices that are well-documented.

In all parts of the Federal system, we see these statutes as the place where the original intent of the law is changed and distorted to accommodate a "special" interest. Many of these distortions where never contemplated by those who supported the law in the Congress. Gross neglect of the resources paid for by Taxpayers seems to never end -- it has become like a religion! Again, these are political machinations growing out of a pervasive atmosphere of Creeping Socialism. No matter which party is running Washington, a cunning Bureaucracy now controls the day-to-day operation of Our Government. It is dominated by a Socialist-leaning, pro-Israel managers who administer laws based upon their own political views, not necessarily in accordance with the "intent" of the Congress! When Democrats win The White House, our Central Government, shifts rapidly to policies that favor the objectives and interests of Israel and American Jewry.

This morphologic change of the original intent of a program or law is the work of politicians and a school of conniving legal sharks that follow every move made in Washington. Every new program is a new opportunity to rip-off the American Working Public -- especially Middle Income Americans, those who pay excessive taxes which prevent them from sending their deserving children to college! Even that ploy has an ulterior purpose! If Middle Class families cannot accumulate enough money to pay for college, that economic quandary becomes another opportunity for a new Federal program. Members of Congress see themselves as dispensers of money, a role they cherish because otherwise there is very little they do in Congress that justifies their existence! At the moment (1998), 70% of a members time is spent on Party politics, NOT essential and real governance matters!

Current plan is to move chronic users of welfare off the welfare rolls and into a new area of opportunity: their own businesses. It offers more proof of how risk taking with the Public's money has become more irresponsible. No matter how ridiculous the Dreams and Demands of the Poor may be, there are always Socialists ready to fulfill those demands by putting more taxpayer money at risk. Is it any wonder why Democrats controlled the Congress for sixty years? Even a child knows it is foolish to shoot Santa Claus!

Bankruptcies reached their highest in 1995 -- over 2 million -- and that number will be dwarfed if welfare recipients are allowed to start businesses using Small Business Administration loan guarantees as suggested by Hillary Clinton. At least, more expensive foreign cars will be on the road! Who will stop this fraud?

To control the Credit Card Scam, disincentives must be built into the system to stop issuing cards to irresponsible people, especially penniless youngsters. This goal can be met by forcing all issuers of credit cards to insure and "cap" each card account at a very conservative level. Every application shall require an up-front premium payment of $30-50 plus an annual fee of no less than $50.00. This money should be placed in a self-insurance fund to cover losses associated with the credit card fraud! Capping will stop the abuse before it becomes an obvious act of fraud.

An alternative -- my preferred solution -- is to refuse to accept personal bankruptcies involving credit card abuse. The strategy is simple: the organizations who "suckered" incompetent people into debt via credit cards should be left holding the debt, not the American workers. They can self-insure with the up-front premium payment or find an insurance carrier willing to cover the potential loss. To dump debt of this kind on all Americans -- recovered via bank and lender fees and special charges -- is unconscionable. It must be stopped -- now!

The fact that the Nation's First Lady, a lawyer, has promoted SBA loans to welfare recipients is a further proof of the Socialism that stalks the corridors of The White House. Lady MacBeth was a saint compared to the subversions and contrivances of Hillary Clinton as she seeks to make her own mark in the world. Much of that story is as yet hidden from us. It will come to the surface and she and Bill will ultimately hang themselves!

It is predictable that people who have languished on the welfare rolls, will NOT have the ambition and/or business skills to make "their own" business succeed. To believe otherwise is to misunderstand the challenge and demand for personal commitment and skill required to make a Business successful. Rare exceptions should not be used to prove the idea is good. Many good ideas are not workable due to the human factor. But no one in Washington has the experience and discipline to play Devils Advocate over such activity. In Washington, everyone is a facilitator, a glad-hander who proudly makes money available for all kinds of high sounding reasons. These are nothing more or less than bribery at work -- a real vote getter!

To create another opportunity for graft and fraud of this kind proves that Washington is learning absolutely nothing. Since the lesson is so transparent, I suggest that these programs are loaded with "anticipated" fraud. Farmers play a similar game: planting 20% more corn than they need because they know the deer and raccoons will steal it. That way the farmer need not try to control the raiders. Same approach inside The Beltway applies! Theft and Fraud are quietly anticipated and budgets are set to take the money from us on April 15th every year!

The upside of "planned insolvency" doctrine is that when workers are "in debt up to their necks", they tend to be more dedicated to their jobs which means greater sense of responsibility. Actually, it is fear of losing what they've got. In particular, they fear any Change that may alter their ability to "keep up their payments".

A similar strategy accounts for the government's promotion of home ownership by forcing lower interest rates paid to those who try to save some of their income. Elderly savers suffer most. Home ownership has one real political motivation: more property taxes from more homes means more money for taxing bodies! To keep a home, Mom has to get a job and that generates more taxes as well. Therein lies the principal cause of families breaking down in the USA!

Given the consistency with which we see overly-liberal fiscal policy applied, it is clear that our huge National Debt was created deliberately by the Socialists who have controlled the country's affairs for 64 years. The Congress controls the purse strings of the Nation. But guess who controls The Congress!

It is also obvious that the banks who run our economic system have promoted the concept of borrowing into the Future. It is their greatest bonanza. Without them, governments could not exist. What does government have that makes it such a good risk: You and Me! Until our bodies grow cold, we will be the Nation's agents of Last Resort! As the population of FREELOADERS continues to grow, we are closer to that day when more people are riding in the wagon, than there are PUSHING THE WAGON! Soon there will a breaking point to this madness!

Without government, banks could not survive. Without banks, government could not exist! Therein lies the problem and the evil synergism that surrounds the capitalistic system as we know it today! It can only work in a Moral and Honest World where People demand Integrity in their Leaders! And Integrity in their institutions and laws!

As this huge Wheel of Fortune began to turn years ago, the system by which government would redistribute personal wealth from the working Middle Class was created. The idea to have tax money flow to Washington where it could be measured out to the poorer states, was the beginning of a process of transferring wealth by government edict. It faithfully follows the folklore of Robin Hood which apparently makes it all palatable and supportable. It even has its origins in the days of which The Bible speaks!

The reason for promoting financial irresponsibility is that "money" and "credit" are now treated as products no different than more familiar hardware products and services that we buy. It keeps money moving through the system. It is truly unlimited as long as government can print more money and entice people throughout the World to buy our Treasury bonds. Foreign purchasers buy truck loads of our bonds because their own banking and investment firms are no way as generous as we are -- or as we used to be!

The device by which irresponsible credit has been unleashed at the personal level is the Credit Card. In its earliest form, such a card (circa 1930) was called an Honor Card. Too bad we didn't keep that name and reputation! Its original intent was to promote Convenience -- NOT to promote indebtedness and opportunities for fraud and theft. The Honor Card was available to 'reliable' people who really didn't need the money but could use the convenience it offered. That Card was radically changed over the years into a device of unbelievable predatory temptation and exploitation! In 1930 , I was running a small gasoline service station and I often accepted an Honor Card in payment for gasoline which I sold for 17 cents a gallon!

To be "in debt", like unwed pregnancy, is no longer a social stigma. The most unappreciated Consumer is one who keeps his or her bills paid. The fact has been admitted recently by major credit card issuing banks who are trying to dump cardholders who payoff their balance before its due date. Responsibility is truly not desirable in this new world we live in! Boomers, in particular, are delighted with the system!! They no longer know exactly how much they owe. They have no idea what anything should cost! They just keep paying online which makes it even more painless! The average Consumer today is completely clueless as to what anything is worth or its Fair Value! They no longer worry about the price because the retail trades and the advertising crooks have made price so obscure and meaningless, the Consumer has become PRICE-IGNORANT! This was accomplished over the last twenty years by Incentive gimmicks that has de-emphasized the Price. The leader in this retail scam were the cereals companies who put little toys and other Freebies in with their boxes of cereal! These predatory practices have increased since the Boomers moved into the Congress and the Business community! One of th leaders of this movement was the Detroit Automakers when they began to list the MSRP - - Manufacturer's Suggested Retail Price!

CREDIT is a drug of unbelievable potency and an Egomaniac Boomer population has become an addicted slave to that narcosis!

If everyone would adopt a policy of buying on a "cash basis", with the exception of a home, cars would cost less, there would be fewer millionaires to hate, a much smaller Federal government and a smaller National Debt. And that would be just the beginning of The American Golden Age.

This is not the direction we are taking, however. More and more, we are being led into a "cashless" economy even though theft and fraud by computer bandits poses a major threat.

The formula of planned insolvency was begun following WW-II and, depending upon one's viewpoint, it has worked well. Even the cycle of recessions and unemployment play an important role: reminders that Capitalists and Laborers need each other. The second more than the first in most cases, however. These periods of unemployment and tightening wages are part of the disciplining mechanism, sometimes occurring in preparation for another national election. Politics and Money are inexorably tied together today because the people who control the Democratic Party also control the Banks, the Stock market and the MEDIA.

Both major parties are supported by major industrial groups. Yes, Democrats are "in bed" with major corporations. Political parties inevitably become controlled by those with great wealth. The Class Warfare carried on by Socialists Gephardt and Marxist Bonior is one of the most subversive and dishonest in the Nation's History. The Clinton's are major progenitors of Class Warfare and Racial Confrontation. It is the principal emotional issue used by Rabble Rousers and Anarchists for centuries. Oh, there is need to resolve racial and class problems! Indeed, there are many reasons! But a proper and honest effort must begin on an even-handed basis.

Today, bankruptcy laws, noted earlier, are used to "bailout" millions of generally incompetent "Wannabee millionaires" each year. The majority of these people are individuals who can't or will not work for anyone else. A small percentage have an Idea and are willing to work smart and hard to make it a great success. Are they that difficult to recognize in a crowd of charlatans? Not at all!

This "bailout" procedure reflects the "hold harmless" philosophy unleashed during the 60's. To pay for this fallacious loan policy, the Middle Class Consumer is forced to restore those losses by suffering higher fees and tolerating lower interest rates on savings and much more. Worry not! The only people with some savings are the Elderly -- those who had a house to sell and who HAD to sell it because the property taxes took a third of their retirement income! I have lived through this experience and I speak with direct knowledge of these things/

When a person no longer works, his property tax should automatically drop to half the previous amount. At least, that portion covering school taxes should be forgiven. Now, there's a platform plank! Anyone have the guts to pick it up and see if it can work? Seniors should be allowed to remain in the home in which they have invested so much time and money. They should not be forced to leave that home because their retirement income is inadequate. Why won't Seniors ask for or demand such a consideration? The Boomers will when they reach retirement age! Trust me!

Those who extend credit to high-risk borrowers are not the losers in this game, however. We are! -- the WORKING People who try to save. The process is patently unjust because those who are responsible for making bad loans do not suffer any consequences for their bad judgment. They have not actually tried to exercise ANY judgment in most cases.

Those who make bad decisions should suffer the consequences. They must be held accountable. That is not the case, however. By now, the practice of forgiveness for everything from Ignorance, Criminal Intent, absence of Good Character and Accountability is the reason we see no progress in many areas. It is a socio-economic disease that continues to spread like wildfire. Democrats and demagogues have created this contagion!

Our system has reduced the lender's accountability for deciding on who is a good or bad risk. The process is much the same as making it possible for young people to attend college even though they cannot qualify to take up such studies. Everything is accessible to everyone! The discipline of requiring prerequisites and qualifying has been eliminated. These are the fruits of Liberal, irrational politics, whose chief purpose is to buy more votes for such favors! Political corruption, once started, seldom will be stopped except by momentous events!

This is a direct result of the distortions of Affirmative Action and the absorption of ill-prepared minorities, a far reaching demoralizing influence that has wounded the Soul of this Nation. Yet those who have lost something precious in the process, are silent and dismayed at where this Nation is going.

When you find a starving person, you do not save him by giving him a high calorie, seven course dinner. Good sense dictates a more conservative approach to his recovery. The same is required to move intellectually starved people toward higher education or dysfunctional people into fair paying jobs.

The political strategy of lower yield on savings for the elderly who established IRA accounts in the 80's, is an example of "manipulation" applied to monetary policy in the USA. Originally, a good idea, IRA savings accounts for Seniors has turned sour as the IRS forces a Minimum Distribution that takes no note of the fact that the elderly are living longer. Interest earned on savings by Seniors should not be taxed at the regular rate. The rate of minimum withdrawal of money in IRA accounts should be reduced to half the current IRS requirement based upon several options. Current Congressional efforts to reduce the tax burden fails to consider the Senior Citizen with problems like this. In fact, those on fixed incomes have become invisible to those in Washington!

Interest rates are regulated by actions of the Federal Reserve Board. It was created to do just that within the limits of accepted ethical behavior. Even as 1997 begins, interest rates remain unnaturally low. Why? (In late March 1997, the FED increased the prime rate for the first time in over two years -- but slightly.)

It is naive to believe that the Reserve Board operates outside the political arena. It is an integral part of our political system. The Chairman, and the Board of Governors as well, are appointed by the President with Senate approval. They do the bidding of their political masters and their own ideologies even though THE FED is NOT a Federal agency! It has awesome power over our lives, et it was created to be "separated" from the U.S. government! Who actually invented the Federal Reserve? Jews who have a long history of monetary management in many Central Banks in other parts of the World!

When the Clinton Administration came to power in 1993, it made a "agreement" (translation: deal) with the Federal Reserve Board Chairman. If the Administration made a positive move to reduce the "deficit", the Board agreed to keep interest rates very low which would pump up the Housing Industry. (The plan included having a woman economist succeed Chairman Greenspan as head of the FED.) Furthermore, a fuel tax would do the trick. Today, we pay 18 cents a gallon for Federal fuel tax and the states typically add 30-40 cents more per gallon!

Low interest rates traditionally help the home building industry and keep the stock market "bulls" happy. It also convinces many voters that the President has done a good job since they can go deeper into debt on cheaper money. The practice of the FRB to lower interest rates steals from those who have saved and depend upon their invested money to provide some income. This assault on Seniors goes unnoticed by the greedy Boomers whose incomes are 3-4 times what the Seniors received when they were working. Something is rotten here -- and it is not in Denmark, Pilgrims!

The worst breach of faith with the Greatest Generation has been the Individual Retirement Account system set up during the Reagan Administration, After inducing them to invest up to 15% of their income into IRA accounts, Greenspan and the Federal Reserve Board dropped interest rates to a fifty year low!

Look into the Mind of Dr. Greenspan and examine his early philosophical development and you will realize that he is a modern Pied Piper -- a philosophical follower and friend of Ayn Rand (real name Alisa Rosenbaum. a Russian Jew novelist and founder of a philosophical viewpoint call OBJECTIVISM!) This is where you can find the mysterious mind of Dr. Greenspan, the genius of double-talk who kept the U.S. Congress thoroughly confused for nearly 20 years! He knows everything that has been done in Washington in corrupting FANNIE MAE and FREDDIE MAC but he kept his mouth shut while the sharks impoverished millions of Seniors!

Many corporations proceeded to fake their annual Profit/Loss reports to attract IRA money, then they stole the money. Like the Savings & Loan debacle, no effort has been made to punish corporate thieves to the extent they deserve! If you think we have seen the last of such Economic Crises, you are pitifully naive! The BIG ONE is just ahead!