Cathy McMorris Rodgers Introduces Anti-IMF Bailout Bill

From Karl Denninger's Market Ticker

http://market-ticker.org/akcs-www?post=188788

“At a time when the federal government is borrowing $5 billion every day on top of a $14 trillion national debt, I am gravely concerned by America’s growing involvement in the ‘gathering storm’ of European bailouts,” said Rep. McMorris Rodgers. “The European debt crisis was caused by too much spending and borrowing and that crisis will not be solved by more spending and borrowing. A ‘Euro-TARP’ is the wrong approach because it's creating a ‘moral hazard’ that will lead to larger counties — particularly Spain and Italy — standing in line for U.S. tax dollars tomorrow. America should have no part in it.”

Couple this with a balanced budget amendment, with CRIMINAL PENALTIES for violation, and we are starting to get somewhere. The banksters are sweating. This makes them more dangerous, however.

Karl Denninger's Market Ticker is a very good source for REAL news, and he researches his articles very well. He is an obvious "conspiracy theorist" inder the current administration's definition of the phrase because he tells the truth.

However, Cathy McMorris Rodgers has it all wrong when she says:The fact is the European debt crisis has almost nothing to do with "out of control spending". It was engineered by the big European and American international banks like Goldman Sachs and Banc de Rothchilds, through their program of convincing European governments to put all their money into derivatives-based investments, which these banks KNEW were crap, and they sold these governments these instruments under the lies that they were "Class A" investments, specifically so they would tank. The banks then take the money, convert it into other investments (like gold and real estate) that are market- and inflation-proof, and then claim they need "bailed out" so that the governments don't lose their shirts.

The Euro "debt crisis" is nothing more than a monumental Ponzi scheme, where the citizens of nations like Greece, Portugal, and Ireland are being left holding the bag, while the bankers walk away with the wealth of these nations, and then turn around and say they need MORE money to cover their "losses", and charge these nations usurious interest rates because the rating agencies (who are in collusion with the banks) downgrade the nation's credit ratings based on the fact that they were stupid enough to invest in bogus derivatives-based funds.

This is NOT a simple issue that can be blamed on bloated bureaucracy, socialist politics, or entitlement programs. It is an incredibly sophisticated investment scam, perpetrated by the entire financial industry, designed to defraud entire nations of their wealth.

Before the Irish government got scammed into derivatives-based municipal investments by these banks (in the early 2000s), the Irish economy was the strongest in the EU, and had the fastest growth rate of any nation in Europe, with MASSIVE growth in manufacturing and exports. Now, they are approaching "Third World" status. Do the math...

Wake up people. They are going to implement the same thing in US eventually...

Dreamer said:

(snip)This is NOT a simple issue that can be blamed on bloated bureaucracy, socialist politics, or entitlement programs. It is an incredibly sophisticated investment scam, perpetrated by the entire financial industry, designed to defraud entire nations of their wealth.
Before the Irish government got scammed into derivatives-based municipal investments by these banks (in the early 2000s), the Irish economy was the strongest in the EU, and had the fastest growth rate of any nation in Europe, with MASSIVE growth in manufacturing and exports. Now, they are approaching "Third World" status. Do the math...

Wake up people. They are going to implement the same thing in US eventually...

Click to expand...

So true, Dreamer! We are starting to see some backlash here in the US, thankfully. Don't know if it may be too little too late. The whole MERS scheme is going under in courts, various States are blocking foreclosures by some financial companies due to fraudulent recordations, and pension funds are bringing suit against the banks for selling "empty boxes" of CDO's. War is upon us, whether most realize it or not.

bump

surprised no opinions here. This is the real rights crap, folks. Does the State own our labor?

Dreamer said:

Wake up people. They are going to implement the same thing in US eventually...

Click to expand...

They already have.