Melinda L. Secor: Of Life and Liberty....Should We Have To Choose?: Keiser: US dollar "backed by bananas"

"The essence of Government is power; and power, lodged as it must be in human hands, will ever be liable to abuse." -- James Madison - (1751-1836)

"We are fast approaching the stage of the ultimate inversion: the stage where the government is free to do anything it pleases, while the citizens may act only by permission; which is the stage of the darkest periods of human history, the stage of rule by brute force. " : Ayn Rand in "The Nature of Government"

"Throughout history there have been tyrants and murderers. And for a while they seem invincible, but always they fall. Always."-Mahatma Gandhi

Science may have found a cure for most evils; but it has found no remedy for the worst of them all -- the apathy of human beings: Helen Keller

The notion that a radical is one who hates his country is naive and usually idiotic. He is , more likely, one who likes his country more than the rest of us, and is thus more disturbed than the rest of us when he sees it debauched. He is not a bad citizen turning to crime ; he is a good citizen driven to despair.--H.L Mencken

"When even one American-who has done nothing wrong-is forced by fear to shut his mind and close his mouth-then all Americans are in peril" Harry S. Truman

"The power of the Executive to cast a man into prison without formulating any charge known to the law, and particularly to deny him the judgment of his peers, is in the highest degree odious and is the foundation of all totalitarian government whether Nazi or Communist."- Winston Churchill, Nov. 21, 1943

"When you see that in order to produce, you need to obtain permission from men who produce nothing - when you see that money is flowing to those who deal, not in goods, but in favors - when you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you - when you see corruption being rewarded and honesty becoming a self-sacrifice - you may know that your society is doomed: Ayn Rand - (1905-1982) Author - Source: Atlas Shrugged, Francisco's "Money Speech"

"Loss of freedom seldom happens overnight. Oppression doesn't stand on the doorstep with toothbrush moustache and swastika armband -- it creeps up insidiously...step by step, and all of a sudden the unfortunate citizen realizes that it is gone." ~ Baron Lane

Monday, September 22, 2008

Keiser: US dollar "backed by bananas"

Press TV interviewed Paris-based financial analyst Max Keiser on the US financial meltdown on September 20. What follows are his free-wheeling comments on the US government bailout of Wall Street and the potential consequences for America.

"To pay for all this insanity from Hank Paulson, they have two options. They can either raise taxes or they can inflate the money supply. They can destroy these things US dollars [waves a dollar bill at the camera]. Dollars 30 years ago used to be backed by this stuff - gold [waves a gold coin at the camera]. Now thanks to Hank Paulson and Ben Bernanke US dollars are backed by these - bananas [waves a banana at the camera]. They're absolutely worthless. Anyone buying US dollars today is going to lose money."

"For the average American, this is what they will experience. The price of food and oil are going to skyrocket due to hyperinflation. The only way they can possibly pay for all these bailouts is to inflate the money supply. This means hyperinflation in America like you had in Germany in the 1920s. This is what the average American will experience: destitution, poverty, social unrest due to flagrant bank mismanagement - and it could have been avoided. But unfortunately the banks in the USA are run by greedy, insane private marketeers and this is the result."

A rather straight forward assessment of our current situation...And, he's got lot's more interesting things to say...the link to the rest of the article is in the title.

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