401(k)s BLEED
By:
Devvy
October 6, 2008
� 2008 - NewsWithViews.com
It's almost difficult to describe in mere words what happened last week in Washington, DC. That Blitzkreig is today's definition of shock and awe. When the enemy hits you at a speed you may not have time to get ready for is exactly what the money masters planned when they dropped the bail out swindle into the laps of a body of individuals (Congress), with a few exceptions like Congressman Ron Paul, R-TX, who have virtually no understanding of the subject matter. In cases like sodomite, Barney Frank, D-MA., whose male sex partner was a senior exec at Fannie Mae, Frank should be investigated by the Department of Justice along with Sen. Christopher Dodd, D-CT.
Despite the overwhelming opposition of we the people across this land, Congress passed another nightmare. If you haven't seen the breakdown, it is here. Note the the part which gives the IRS immunity from federal laws, more power to snoop into your life and make your personal income tax information as exposed as a newborn baby. You will see this wasn't just a "rescue" to recapitalize banks, it is more massive pork ridden debt slapped on our backs.
Notice on page 298 of the bill, there are provisions for the film and motion picture industry. What does this have to do with bailing out banks? How about page 300 that provides exemption from excise taxes for wooden arrows made for children? Or, how about Section 504 regarding income from Exxon Valez settlements? Here's more on the swindle: GREEN ALERT: Hidden Carbon Tax Provisions in Paulson’s Bailout 2.0. "This appears to be an attempt by global warming fanatics to lay the foundation for an economy-killing carbon tax just like the “cap-and-tax” system that is now destroying European industry. If you think the Mother of All Bailouts is bad, just wait till you see the carbon tax. Get ready to reduce your standard of living drastically."
Reading this bill was like a nightmare that wouldn't end. How many members of Congress actually read the entire 451 pages? Most likely, they just paid attention to the sections that would satisfy those who bought their favors.
Was the procedure used to bring this monstrosity up for a vote constitutional? If the original bill failed in the House, how could the unlawfully seated senate originate a bill of expenditure? Why would people ask this specific question?
U.S. Constitution, Art. 1, Sec. 7: All bills for raising revenue shall originate in the House of Representatives; but the Senate may propose or concur with amendments as on other Bills.
Here's how it was done via 'Parliamentarian procedures' in the U.S. House of Representatives. In March, 2007, a bill originated in the House, H.R. 1424. This innocuous bill was originally introduced as the 'Genetic Information Nondiscrimination Act of 2008.' As time was of the essence for the banker barons to get their swindle shoved down our throats and these sell outs in Congress to "cobble" together "something," the original text was scrubbed (you'll see here at GovTrak the term "co-opted" is used) and the new bill text is slapped onto this bill number: "In October 2008, it was co-opted as the so-called "vehicle" to pass the relief bill with an amendment that rewrites the whole bill. The House's initial vehicle was H.R. 3997, but they failed to pass their amendment co-opting the bill."
Go look at the bill here. Notice the words: Purpose: In the nature of a Substitute.
This new bill using an old number fails in the House, goes to the unlawfully seated Senate, they pass it, off it goes to the House where it passed last Friday. Nice, neat, slick. But is it constitutional? The bill did originate in the House, but in my eyes, what we saw was yet more chicanery by a body of public servants who care nothing for truth, honesty, integrity or the U.S. Constitution. We know that the U.S. Treasury made up the $700 billion dollar figure; they simply wanted to "pick a big enough number." Now, we have Pelosi's gangsters in the House using back door methods to ram a bill down out throats that is so heinous, these fools simply don't realize what they've done to the American people.
401(k)s. For almost three weeks, popular financial guru's on both the tube and Internet have been telling people these bail out bills would not have any effect on their pension plans or 401(k)s. Keep investing in the stock market and don't touch those 401(k)s! While speaking to my attorney friend out in DC over the weekend, he told me a friend of his checked his 401(k) and found it had lost 47% last week. That's not the only one. Another man I know lost $35,000 of his 401(k) last week and a wonderful lady who emails me all time, Nettie, said her husband's 401(k) had lost almost $60,000 and she was very worried about his mental health. They're in their late 60s and it's too late for them to start over. My heart bleeds to read these emails.
Will these Americans get back these losses? If they leave their money in, they run the risk of the continued and devastating effects of this meltdown which is NOT going to get any better as a result of this monstrous "2008 Economic Stimulus Relief Bill." If people try to salvage what's left and withdraw their own money, the thieves at the IRS will penalize you anywhere from 20-35%. Every time I watch one of these jackals in Congress crow how much they care about "Main Street," I want to puke.
Supposedly one of the promises in this "rescue" bill was to allow Americans to withdraw their 401(k) funds without penalties. It never happened as I read those sections of the bill. Of course not. The puppet masters who own Congress and the White House don't want Americans to pull their own money out of the risky markets. They would rather you go bankrupt or lose what you worked so hard for decades to acquire to protect their game. You can read the 401(k) provisions of the bill here; it begins on page 303. This is what your public servant who voted for that bill (including Obama and McCain) did last week:
Bailout vote: Congress shrinks your 401(k)
"That loss guarantees that a huge amount of money has been wiped off the value of 401(k)s affecting retirement plans. Tens of millions of Americans will be retiring in poverty or will not be able to afford retirement at all because of the votes those 133 Republicans and 95 Democrats made on this fateful "Fools Monday"...Speaker of the House Nancy Pelosi, D-Calif., is responsible for at least half of this debacle. Her speech Monday, supposedly in favor of the bailout, was as partisan, short-sighted and even hysterical as anything she has ever said. It was the defining moment of her career, and she blew it..."
These reprobates used your retirement as a sledgehammer: "Basically they gave Congress a ransom note: 'We've got your 401(k) and if you want to see your 401(k) alive again, give us $700 billion in unmarked bills,' " Sherman said."
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I want to know who the hell "they" are?
For those Americans who somehow believe things will "change" come January with either McCain or Obama, get out of denial. As I said in a past column, the Dogs of Hell have been unleashed against the we the people. If you haven't seen it, this is a 48 second video of Rep. Brad Sherman, where he states "...a few members were told if this bill didn't pass, there would be martial law here in America." Sherman was talking about how members of the House were being flogged with panic threats the stock market would crash several thousand points, etc. What I want to know and I believe we the people have the right to know: Who was telling members of the U.S. House of Representatives that if they did not vote for that bill, September 29, 2008, there would be martial law in this country?
Paulson (who should be criminally charged along with Bernanke and their minions) has stated he's pushing ahead as quickly as possible to implement this newly signed law by Bush. Why wouldn't he? The shadow government is sewing up the final pieces of the complete and total surrender of this nation and our sovereignty.
As I said in recent columns, Freddie and Fannie need a trillion today, but how about next year? The bail out of those two entities was beyond the scope of the U.S. Congress, but they did it anyway. Remember the $85 BILLION borrowed dollars for the AIG bail out? Guess what? They've run through $61 billion already: "The American International Group said on Friday that it had already drawn down $61 billion of the $85 billion emergency bridge loan it received from the Federal Reserve two weeks ago, an announcement that startled credit ratings agencies."
This massive meltdown is going to get worse, make no mistake about it. What Congress did last week will take a few months to shake out and then look out. Can people see the tsunami building?
The stress of the foreclosures is getting to Americans with some committing suicide. Last week, Fannie Mae said they have forgiven a woman in Ohio her delinquent loan when she attempted suicide; they have simply given her the house outright. You, me and our children will be robbed of the fruits of our labor via the Freddie Fannie bail out and this is where the sweat off our back is going? While these deaths are tragic and make me sick to my soul, why don't we all just quit making our house payments and when the loan defaults, stand on the front porch with a gun and demand our loans are forgiven? Can anyone see how this whole mess is already getting out of hand?
How about the states of the Union? 28 million Americans are now on food stamps! In a nation rich in human and natural resources, we the people are being forced into poverty by so-called public servants both at the state and federal level. The burden on the states will continue to grow, i.e., the incompetent idiot, Gov. Arnold Schwarzenegger of California wants Congress to loan his state $7 billion dollars: "California, the most populous U.S. state, will run out of money by the end of this month and needs $7 billion in funding.....Without the short-term funding, California may be forced to halt or significantly delay payments for teachers' salaries, nursing homes, law enforcement and every other state-funded service,'' said Treasurer Bill Lockyer, a Democrat."
The people's treasury is already overdrawn $10 TRILLION dollars as I write this. There's no money to loan, but will Congress write a hot check for the governor and reward gross mismanagement by the California State Legislature? Lined up behind California is Massachusetts: "BOSTON — The treasurer of Massachusetts has asked the federal government about lending Massachusetts money under the same favorable terms it has given banks and firms during the financial crisis." No where in Art. 1, Sec. 8 of the U.S. Constitution does it authorize Congress to borrow money from a central bank to loan to state legislatures and slap the interest on our backs forever. Oxen to the yoke.
This will escalate as the foreclosures pile up with no buyers and property taxes drop to all time lows. Will there be more plunder of the people's empty treasury to bail out states? Unless there is at least a 150 seat turn over in the House and all U.S. Senators up for reelection are defeated and replaced with constitutionalists who will go back in January and get Ron Paul's 2007 bill passed to abolish the unconstitutional, privately owned Federal Reserve, sell off the assets and put the money in the people's treasury for starters, we are headed for a depression; short 4 minute video. Also remember: Only 1/3rd of the Senate is unlawfully up for reelection next month, which is why they voted for this swindle. The rest have no fear of the ballot box. They simply promise voters they will continue to loot the public treasury to satisfy the mobs.
But, hold the phone, folks! Here's the stunning new headline: October 5, 2008. Wall Street May Shun $700 bn dollar bail out. "Fears are mounting that many Wall Street banks and financial firms will refuse to participate in the US government's $700bn bail-out package, leaving global markets and world economies in a perilous state for months to come. 'There is a growing feeling that banks ... might instead decide to tough it out,' said Thomas Caldwell, chairman and CEO of Caldwell Financial, a $1bn-plus fund manager."
What will these geniuses in Congress do if there's a revolt by these private banks?
The past few columns I have encouraged voters to send a tube of cheap lipstick to your house member and senator who voted yes on this grand larceny. Send a deep red like hookers wear as they ply their wares on the street corner and send it to their district offices this week. Let them return to their district offices to tens of thousands of tubes of red lipstick. Get as many people as you can, call the media and make the delivery of the tubes of hooker lipstick a real event.
Attend every debate and town hall meeting for every member of Congress who voted yes on that bail out bill and bring tubes of Hooker Red. Tell people attending why you're giving congress critter Jones the lipstick.
Here is the roll call for the vote (house) (senate). As far as I'm concerned, with the exception of Ron Paul, all 534 of them should be booted and no fat pensions rewarding the mess these people have taken this country into. For years these poltroons have destroyed this country with legislation killing the Bill of Rights, dragging us into endless wars and continuing to hand over our sovereignty to foreign interests.
One of my readers made this fabulous lipstick picture. Print it out, put it on a flyer or blow it up and put it on a sign for all these events. Make the people in your district take notice. Those who yell the loudest get heard. Call your congress critter's district office and find out their schedule; same for your senator. Get out there by the thousands between now and election day. Sadly, eleven states started voting a week before the vote and likely many voters will simply vote back their incumbent based on name recognition or promises for more money for education, unconstitutional "universal health care" and save social security! Sheep will always be sheep.
Let's get the Red Hooker Lipstick brigades out there in force. Help wake up the people in your district.
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