I was in a conversation with a highly intelligent gentlemen the other day. He is a Professor of Political Science who truly believes that government is an honest, worthy, endeavor. That men and women t go into government with the best intent and do the best they can.
We got into a discussion about the 2008 Bank Bail Out and I informed him that the United States Congress was forced by the threat of Martial Law if they did not open up the purse strings.
His reply was..."I don't believe that."
The following is my Fact filled reply:
Retort #1
Rep Brad Sherman D-California 27 District ON C-SPAN declared the following.
"That if the 700 Billion dollar Bank Bail out was NOT granted immediately that in closed door meeting Congress was threatened with Martial Law."
Retort#2
House Democrat Paul Kanjorski- 11th District
http://blog.alexanderhiggins.
"Several Congressional members have alluded to a private meeting with Paulson and Bernanke in which vague economic Armageddon was threatened if Congress did not immediately hand Hank $700 billion, with no oversight. As the political debate raged over the next 15 days, several members expressed a sense of shock over the severity of the secret warnings, while refusing to divulge the details to a concerned public. Representative Sherman of California later accidentally revealed that members were warned that Martial Law would follow if the $700 bailout plan were not approved quickly. Days later it was confirmed that the warning was delivered by Treasury Secretary Paulson.
Retort#3
http://etfdailynews.com/2012/
Goldman Sachs was first to deploy the banker scheme of extracting funds from public coffers. In addition to paying interest on $1.1 trillion of U.S. Treasuries held by the Chinese, the banking system and the U.S. dollar were saved through pushing the problem of global insolvency onto the Eurozone nations.
In 2008, when Hank Paulson went to the Congress and said that they had to bail out the banks for $700 billion or martial law would be declared, they weren’t lying,” says Posel. Goldman Sachs CEO Henry Paulson’s extortion of a $700 billion TARP bill from Congress with the threat of martial law was essentially a classic bait-and-switch scheme. Americans were told that the unprecedented appropriation was earmarked for a jobs and economic stimulus program. Instead, the money was redirected to the “too big to fail” banks, with subsequent hearings between Congress and Federal Reserve Chairman Ben Bernanke yielding no disclosure as to which banks received the money under TARP.
Retort#4
www.foxnews.com
“In a series of phone calls, administration officials have told bankers that the administration will not allow a default to happen even if the debt cap isn’t raised by the August 2 date Treasury Secretary Tim Geithner says the government will run out of money to pay all its bills, including obligations to bond holders,” reports Fox Business.
Once again, while striking fear into lawmakers and the American public by stoking fearmongering about the inevitability of a catastrophic collapse, the administration is fully aware that the system, maintained as it is by a fraudulent debt-based fiat money system, can always be kept artificially inflated for that bit longer.
Indeed, the doomsday rhetoric is likely to be nothing more than a ploy to increase the administration’s bargaining power and its bid to seize the power of the purse from Congress. We saw an almost identical tactic used during the 2008 bailout debate, which was eventually rammed through on the back of bellicose threats about martial law and economic Armageddon.
The threat of Martial law was widely believed to be the stick needed to force Congresses hand. After seeing this information given by US representatives in Congress on C-Span you can not deny that Martial law was threatened.
The preceding facts bear out my statement in class that...
FACT: "Martial Law was threatened if the Bail out was not FORCED through Congress."
We got into a discussion about the 2008 Bank Bail Out and I informed him that the United States Congress was forced by the threat of Martial Law if they did not open up the purse strings.
His reply was..."I don't believe that."
The following is my Fact filled reply:
Retort #1
Rep Brad Sherman D-California 27 District ON C-SPAN declared the following.
"That if the 700 Billion dollar Bank Bail out was NOT granted immediately that in closed door meeting Congress was threatened with Martial Law."
Retort#2
House Democrat Paul Kanjorski- 11th District
http://blog.alexanderhiggins.
"Several Congressional members have alluded to a private meeting with Paulson and Bernanke in which vague economic Armageddon was threatened if Congress did not immediately hand Hank $700 billion, with no oversight. As the political debate raged over the next 15 days, several members expressed a sense of shock over the severity of the secret warnings, while refusing to divulge the details to a concerned public. Representative Sherman of California later accidentally revealed that members were warned that Martial Law would follow if the $700 bailout plan were not approved quickly. Days later it was confirmed that the warning was delivered by Treasury Secretary Paulson.
Retort#3
http://etfdailynews.com/2012/
Goldman Sachs was first to deploy the banker scheme of extracting funds from public coffers. In addition to paying interest on $1.1 trillion of U.S. Treasuries held by the Chinese, the banking system and the U.S. dollar were saved through pushing the problem of global insolvency onto the Eurozone nations.
In 2008, when Hank Paulson went to the Congress and said that they had to bail out the banks for $700 billion or martial law would be declared, they weren’t lying,” says Posel. Goldman Sachs CEO Henry Paulson’s extortion of a $700 billion TARP bill from Congress with the threat of martial law was essentially a classic bait-and-switch scheme. Americans were told that the unprecedented appropriation was earmarked for a jobs and economic stimulus program. Instead, the money was redirected to the “too big to fail” banks, with subsequent hearings between Congress and Federal Reserve Chairman Ben Bernanke yielding no disclosure as to which banks received the money under TARP.
Retort#4
www.foxnews.com
“In a series of phone calls, administration officials have told bankers that the administration will not allow a default to happen even if the debt cap isn’t raised by the August 2 date Treasury Secretary Tim Geithner says the government will run out of money to pay all its bills, including obligations to bond holders,” reports Fox Business.
Once again, while striking fear into lawmakers and the American public by stoking fearmongering about the inevitability of a catastrophic collapse, the administration is fully aware that the system, maintained as it is by a fraudulent debt-based fiat money system, can always be kept artificially inflated for that bit longer.
Indeed, the doomsday rhetoric is likely to be nothing more than a ploy to increase the administration’s bargaining power and its bid to seize the power of the purse from Congress. We saw an almost identical tactic used during the 2008 bailout debate, which was eventually rammed through on the back of bellicose threats about martial law and economic Armageddon.
The threat of Martial law was widely believed to be the stick needed to force Congresses hand. After seeing this information given by US representatives in Congress on C-Span you can not deny that Martial law was threatened.
The preceding facts bear out my statement in class that...
FACT: "Martial Law was threatened if the Bail out was not FORCED through Congress."
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