Over a decade ago, during the Clinton administration, Treasury Secretary Robert Rubin orchestrated the Mexican Peso bailout. At that time, Rubin said that no one could have anticipated the crisis.
Our subsequent rescue of the Mexican Peso met with a very suspicious timeline. Consider the following:
-Then-President Carlos Salinas' anointed successor, Luis Donaldo Colosio, was killed by two gunshots in March 1994 while campaigning in Tijuana near the California border; the government presented a young factory worker as Colosio's lone, demented assassin.
Our subsequent rescue of the Mexican Peso met with a very suspicious timeline. Consider the following:
-Then-President Carlos Salinas' anointed successor, Luis Donaldo Colosio, was killed by two gunshots in March 1994 while campaigning in Tijuana near the California border; the government presented a young factory worker as Colosio's lone, demented assassin.
-Ruling Institutional Revolutionary Party (PRI) Secretary General José Franciso Ruíz Massieu was gunned down in September 1994.
- Former president Salinas' brother, Raúl, was arrested in February 1995 and charged with masterminding the assassination of Ruíz Massieu, though the government did not declare what motive it attributes to Salinas, a businessman who allegedly has ties to drug traffickers and enjoyed lucrative contracts with his brother's government.
Faced with a run on Mexico that was evaporating perceptions of U.S. NAFTA benefits, the Clinton administration masterminded a series of bailouts. On January 3, 1995, a year and two days after NAFTA took effect, the administration proposed an $18 billion rescue plan. The plan consisted of $9 billion in expanded currency swap arrangements from the United States, $1 billion worth of swaps from Canada, $5 billion in Bank of International Settlements (BIS) credit and $3 billion in private bank credit. On January 12, as Mexico's economy continued to unwind, the administration boosted the U.S. commitment to $40 billion worth of U.S. loan guarantees. Exercising political finesse, the Democratic administration first sat Senate Majority Leader Robert Dole, R-Kansas, and House Speaker Newt Gingrich, R-Georgia, down with Treasury Secretary Robert Rubin and Federal Reserve Chairman Alan Greenspan. These political heavyweights got the Republican leaders to sign off on the proposal on the spot.
Lawrence Kudlow, economics editor of the conservative National Review magazine, testified January 26 before the Senate Foreign Relations Committee, "This is not a bailout of the Mexican peso or the Mexican economy. It is a bailout of U.S. banks, brokerage firms, pension funds and insurance companies who own short-term Mexican debt, including roughly $16 billion of dollar-denominated tesobonos and about $2.5 billion of peso-denominated Treasury bills (cetes). It is also a bailout of the Mexican government which incurred these liabilities. Finally, it could be a bailout of another $20 billion of Mexican private-sector bank certificates of deposit, commercial loans and trade credits."
Why is all of this important? The money used to bailout the BANKS was American taxpayer money!
(This is actually Unconstitutional. Taxpayer money is not supposed to be used to give to foreign governments. Check the "Powers of Congress" in the Constitution. )
Who was Robert Rubin? Aside from being Clinton's Treasury Secretary- he was a former member of Goldman Sachs!
Hmmmm, sound familiar? Fast forward to today. Treasury Secretary Paulson, a former member of ...Goldman Sachs, with the help of Fed Chairman Bernanke, bailing out the Banks, once again, with taxpayer money!
Goldman Sachs is one of the banks that owns shares of The Federal Reserve. Conflict of interest, anyone?
And, this bailout was even bolder, giving unlimited power to the Treasury Secretary. The banking community now has a direct link to the government (they already did thru the immoral politicians but now they have a fourth branch of government).
Who is a member of the new banking oversight committee?
Fed Chairman Bernanke. No, I'm not joking.
Who was for the bailout?
President Bush, who went on national television and told us we would have a great depression if we didn't act!
Nancy Pelosi, who told the Congress that the United States would have Martial Law if they didn't pass it! http://www.youtube.com/watch?v=_oxIsniQ9V4
John McCain and Barack Obama, who campaigned all over the United States, urging "herds" of sycophants to tell their Congressmen to pass the bill as soon as possible!
Two parties who exclude all other parties from the debates and from state ballots.
Free country?
No Conspiracy?
We have a Federal Reserve who prints our money with interest. John F. Kennedy went outside the box in 1963 and started issuing currency , silver backed dollars, from congress (without interest owed). By the end of the year, he was dead.
Here are some dissenting voices on the bailout. Rep. Kucinich and Rep. Ron Paul, from both sides of the aisle, but two guys who I am convinced love their country more than a really good bribe.
Rep Kucinich: "We should be free from the manipulation of the Federal Reserve. Is this the Congress or the Board of Goldman Sachs? "
http://www.youtube.com/watch?v=NsLiS8UlZyo
Rep. Paul: "We are destroying the dollar. The problems are Corporatism. We need oversight of the Federal Reserve- find out what they are doing!"
http://www.youtube.com/watch?v=YBVB1Uc0nko
