It just dawned on me that our government is spending $2T of your money to give out approximately $208B* to the general public in cash. Which makes me ask, where is the other $1.792T going?
First off, it really is not $2T that the government is spending it is $6T once you add into the equation the Federal Reserve has released $4T into the economy through interest rate reductions, REPO loans which I started to report on in September 2019, and suspending the rule that all banking institutions must keep 10% cash on hand of total assets. But for kicks and giggles let’s stay with the $2T that Congress just approved. Well, not the whole Congress mind you. The Senate was in their seats voting while the House voted by Unanimous Consent with supposedly a quorum sitting in the gallery and only several Representatives in attendance on the House floor. No physical count was done.
In this authors fiscally minded thinking it is a poor investment strategy to give away money to make a negative 90% return on an investment. I ask, and you should be asking…Why? Why did we allow the Legislative Branch of our government to give away your children’s, grandchildren’s, and generations to come future? Why did the House not put their signatures on this deal but instead push this through via Unanimous Consent? I do not understand.
Granted there are bank guarantees in the bill, small business loans, and other sound business offerings to help the country get back up to speed but $1.792T! There is only one way to pay for this and that is deflating your investments by devaluing the dollar. Will we see wheel barrel’s full of money to buy groceries in our future? Remember, the Weimar Republic did exactly this in 1921 – 23 to pay for war retributions. Just think back to those photographs in your economics classes? Remember what spring boarded Adolf Hitler into power?
I truly believe that when the dust settles and we wipe down this Bill, the Government will have either moved the country much closer to Fascism or Socialism. It will have been a war fought with a virus as a weapon not guns and bullets yet there will be a similar number of deaths.
“As an economic system, fascism is socialism with a capitalist veneer. The word derives from fasces, the Roman symbol of collectivism and power: a tied bundle of rods with a protruding ax.” – The Library of Economic and Liberty
Let’s think back to the Patriot Act. What did we give up in name of safety with that masterpiece put forth by our Legislative Branch? In short, the Fourth Amendment to the Constitution was whittled down to almost nothing.
“The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.” – Fourth Amendment to the Bill of Rights
The Patriot act expanded our government’s ability to monitor phone and email communications, collect bank and credit reporting records, and track the activity of innocent Americans on the Internet. Now most Americans think it was created to catch terrorists but, the Patriot Act turns regular citizens into suspects. Let’s go no further than the illegal phone tapping of Mr. Trump’s Campaign Manager Paul Manafort and aide Carter Page before and after the 2016 Presidential election.
Some fun facts,
- Between 2003 and 2006 there has been 192,499 NSL’s (National Security Letters) obtained by the FBI without a Judge’s approval
- Only one terror related conviction during that period
- NSL documentation collected are not required to be destroyed after the investigation ends with or without criminal referrals
- A minimum of 34,000 LEO’s (Law Enforcement Officers) have access to NSL’s
- In response to 9 NSL’s, 11,100 Americans phone records were turned over to the FBI
- Companies who turn over NSL’s to LEO’s by law cannot let their customers know their records were turned over
- Between 2003 and 2005 out of 143,074 NSL’s only 53 criminal referrals were turned over to prosecutors
The Patriot Act also allows LEO’s to do “Sneak & Peak” searches of suspects homes or businesses. This allows LEO’s with a warrant to enter a suspect’s house or business without notifying the occupant, while the suspect is away, and not notify the suspect they have made the search.
- In 2010 there were 3,920 Sneak & Peak searches which were,
- 76% Drug related
- 24% other ???
- < 1% other
Getting back to the point of this article, what little hidden gems did our Federal Government give away with just a lousy voice vote in the House? Who are the Representatives to blame and vote out of office when we learn the true nature of this Bill? Two quotes come to mind,
“Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety.” – Ben Franklin
“The nine most terrifying words in the English language are, ‘I’m from the government and I’m here to help.” – Ronald Reagan
I will leave you with this last thought, House Leader Nancy Pelosi is now talking about a fourth Coronavirus-19 relief package. What are American Partisans going to do about it? I suspect nothing. Fascism and or Socialism, here we come.
‘* = There is an estimated 84M households in the US X 2.1 people in each household = 174M people eligible for payments of $1,200- per adult and $500- per child. 174M X $1,200- = $208B.
Freedom Through Self-Reliance®