Two days ago, Senator Jim Bunning said something that was… uhh…. well… so un-senator-like.

He claimed that Treasury Secretary Henry Paulson, “by rescuing Fannie Mae and Freddie Mac, is acting like China’s finance minister….”

To which the amoral internationalists currently in control of the nation’s primary financial, governmental, and media institutions are probably thinking “and your point is….”

Senator Bunning also claimed, “We no longer have a free market in the United States, we have a government controlled free market.” How Senator Bunning can utter those oxymoronic four words (“government controlled free market”?!) in the same phrase, is beyond me. But he’s not only incorrect about that, he’s also off regarding the timing of losing our free market.

That happened about 95 years ago when agents of the banking establishment, working in Congress, at their bosses’ behest, pushed through the Federal Reserve Act of 1913.

Passed on December 23, when most congressmen had already gone home for Christmas, a handful of congressmen gave the banksters gifts in their stockings the likes of which seldom have been seen in all history — and which have paid enormous dividends year after year after year.

I’m mean, hey, wouldn’t you like to be a member of the Establishment club which is privy to financial decisions made by those with total control over the nation’s currency, which way interest rates are going, etc., before the rest of us lesser mortals find out?

Wouldn’t you like to be the beneficiary of the cartel’s profits, which have helped America’s ruling class well for nearly 100 years, even as productive Americans have been robbed of untold trillions of dollars in property and wealth?

Wouldn’t you like to be a part of the quasi-private cartel which has never had to endure an independent audit, even though it has depreciated the dollar to almost 5% of its value since the day the Fed was formed, and gets away with such criminal activity with impunity?

If you have no conscience, then of course you would.

Senator Bunning called for Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke to “step down.” Such a token slap-on-the-wrist effort will do nothing to get at the root of the problem — which is bringing America to financial ruin. Putting in the “right people” to oversee a fraudulent system will only perpetuate another round of fraud (academics called that a “business cycle”).

It’s also a sobering indicator when one considers that even the best financial experts do not give the same figures with respect to our country’s indebtedness, which happened because the Fed created currency from nothing to pay for Congress’ spending habits favoring those seeking to live at the expense of others.

A few days ago, MarketWatch blared its headline, “A $75 trillion fright fest.”

Author Paul B. Farrell outlined “Eight megahorror debts chilling America,” among which are endless massive war, trade deficits, Social Security and Medicare, skyrocketing health-care costs, and a failing educational system.

Farrell would like to see David Walker, former-Comptroller General and head of the Government Accounting Office, elected president. Perhaps Farrell is unaware that his hero Walker would like to see John McCain as president, which will give us more of the same problems and policies.

Walker quit the GOA this past year and joined former-Council on Foreign Relations Chairman Peter G. Peterson’s foundation in order to sound the alarm about this ticking time bomb, most notably shown in the latest film I.O.U.S.A.. For an analysis and more background, click here.

Walker has calculated our nation’s total indebtedness (which includes unfunded liabilities) at approximately $53 trillion.

Farrell claims its $75 trillion.

In April 2007, Richard W. Fisher, president and CEO of the Federal Reserve Bank of Dallas, pegged our total indebtedness at $83.9 trillion.
Fisher derived his figures by looking at “official government trustee reports” and analyzed “the infinite-horizon discounted present value of our unfunded liability from Social Security and Medicare—in common language, the gap between what we will take in and what we have promised to pay….”

How much do we each owe? According to Fisher:

If you divide the $83.9 trillion evenly among the 300 million U.S. residents, you get a per-person liability of $280,000—more than five times the average household’s annual income. Each of us would have to pay that much today if we wanted to guarantee the solvency of our entitlement system for future generations.

Of course, “today” was only a year ago. Since then, Fisher revised his numbers last month, in his remarks before the Commonwealth Club of California on May 28, 2008, titled with the understatement of the century, “Storms on the Horizon.”

Fisher now claims we are looking at a $99.2-trillion debt.

That’s $99,200,000,000,000.

So, let’s say you have a household of four. You’ll need to cough up your share of $1,333,332 (about $333,333 per person) over a lifetime, in addition to your regular living expenses, plans, hopes, and dreams, to help meet the shortfall.

Remember that as congressmen continue to shovel out billions in foreign aid, and unctuous-sounding “Foggy Bottom” statists offer platitudes about our “strategic interests,” even as they pile on more and more debt into the bottomless pit that Washington D.C. has become. 

None of these figures take into account that Congress just generously bailed out Freddie Mac and Fannie Mae on our behalf. And, as the ever insightful Bill Walker has noted, those figures do not include all of the countries the McBama-Bush-Cheney machine are thumbing through in an atlas and preparing to bomb. That means lots of profits for companies who get to go in (like Cheney’s Halliburton, with the taxpayer assuming the risk) so they can rebuild their infrastructures.

Those figures also don’t include all of the planned giveaways our “leaders” have envisioned through the UN.

No, the money manipulators don’t need to step down. They don’t need to be replaced.

Instead, the Fed needs a truly independent financial audit, and full disclosure of all its doings. Where there is evidence of criminal conduct, those responsible should be tried in a court (preferably not staffed with Establishment cronies who will whitewash everything).

And while the treason trials get underway, the Fed needs to be abolished, once and for all.

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