Palmer Says Bush Feeding Market Instability

October 10, 2008 by Stephen Palmer 

I just read an article on Yahoo! News entitled “Bush Says Anxiety Feeding Market Instability.” It prompted me to write my own version of the article. My version will make more sense after you’ve read the original.

(Note: Apparently Yahoo! News updates their stories, so the article I link to above is not the exact article that this was based on. But you’ll still get the point.)

Palmer Says Bush Feeding Market Instability

By STEPHEN PALMER, COL Correspondent

October 10, 2008

ROUND ROCK, TX — Stephen Palmer said Friday that the government’s financial rescue plan was aggressive enough and big enough to plunge America into a depression and rob citizens of their hard-earned savings, but it may take time to fully kick in as the government props up unstable policies and institutions. “We can solve this crisis and we will — by getting rid of the Federal Reserve,” he said in brief remarks from his home.

Palmer spoke as leaders of the world’s top economies gathered in Washington to figure out how they could leverage the panic to confiscate more illegitimate power.

Mr. Palmer noted that major Western countries were working together in an attempt to undermine every positive step we’ve taken toward creating just and equitable society since 1776, including ignoring their respective Constitutions.

“Through these efforts, the world is sending an unmistakable signal. We’re in this together and we’ll be oppressed by our governments together,” Palmer said.

Palmer said how he understood how Americans could be concerned about their economic future. “That anxiety can feed anxiety and that can make it hard to see all that’s being done to worsen the problem and strip us of more freedom,” he said.

But despite a relentless sell-off that has seen the Dow Jones industrials plunge 20 percent in the past seven trading days, Palmer said, “We are a prosperous nation with immense resources and a wide range of tools at our disposal — all of which can be employed when we get President Bush, Henry Paulson, Ben Bernanke and the Federal Reserve out of the way.”

Mr. Palmer said the new $700 billion tyranny plan that President Bush signed into law a week ago authorizes the Treasury Department to socialize financial institutions at the whims of one man.

It wasn’t the first time Mr. Palmer has declared that the government stop distorting the market by controlling interest rates and the money supply, although it has also been mentioned by several other prominent economists and experts.

Since the bailout package was signed into law, the conversation about how it will be used has shifted from how taxpayers are lining the pockets of corporate executives to how they are supporting an overblown government.

Nationalization of the U.S. banking industry was once unthinkable, but in a stagnant pond of public apathy, anything is possible.

The government is authorized under the law to “screw taxpayers.”

These include the couple in South Dakota making $45,000 a year and trying desperately to put their two sons through college, but not Wall Street executives making $5 million per year and struggling with the overwhelming decision of how they should spend their money.

It is Mr. Palmer’s position that the Bush administration’s authority extends to whatever it feel like doing, since Congress doesn’t have the guts, nor the knowledge, to check it on any front.

“The plan they are executing is aggressive. It is the wrong plan. It will take time to have its full impact. It is flexible enough to get even more tyrannical as the executive branch amasses more power. And it is big enough to work, the definition of ‘work’ being to collapse the economy,” Palmer said.

He also noted that the Federal Reserve has injected hundreds of billions of green pieces of paper into the system — with little to no oversight and with nothing backing it. Other central banks have cooperated to help speed up the rate of inflation and erode the savings of every American.

“The federal government has a comprehensive strategy to lull the people into temporary security at the cost of freedom,” Palmer said.

While he sought to reassure Americans that the situation is not hopeless and that we should continue doing all we can, Palmer also acknowledged that this was one of the most egregious acts of tyranny in our nation’s history.

Palmer said his online community, The Cause of Liberty, has launched initiatives that are “helping common Americans to reclaim their responsibilities as citizens and to restore the American Republic.”

He also noted “rigorous discipline” must be enacted by the People to make sure that the government doesn’t “take advantage of the crisis to illegitimately erode our freedoms.”

“Over the past few days,” Palmer continued, “we have witnessed a totally predictable drop in the stock market, much of it driven by the stupidity and power-mongering of the government and the Federal Reserve. This has been a deeply unsettling period for the American people.”

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Copyright © 2008 by The Cause of Liberty. All rights reserved.

Filed under: America, Economics, Government, Liberty, Monetary Policy, Politics, Revolution, Taxation
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Comments

2 Responses to “Palmer Says Bush Feeding Market Instability”

  1. Linda on October 10th, 2008 11:33 am

    The purpose of laws is to hold society together in harmony; otherwise there is only chaos, the Wild West and lawlessness. The Federal Reserve and the “bailout” are illegal.

    Constitutional Conservative Ron Paul has introduced H.R. 2755, the “Federal Reserve Board Abolition Act“, which will repeal the Federal Reserve Act and abolish the US Federal Reserve at the end of 1 year after its passing into law.

    The 1-year time frame will be a “winding down” period, overseen by the Chairman of the Board of Governors of the Federal Reserve System, who will continue to pay employees and operate day-to day dealings.

    The OMB Director will begin liquidating the Fed’s assets, which will put into the General Fund of the Treasury. The Secretary of the Treasury and the Director of the Office of Management and Budget will report back to Congress at the end of 18 months.

    IS THERE A SOLUTION?

    America became the greatest, most prosperous nation in history through low taxes, constitutionally limited government, personal freedom, and a belief in sound money.

    The way out of this current financial crisis is to return to those timeless Principles:

    1.) End the Bailouts - The Federal Reserve’s authority to use taxpayer money to bail out Wall Street must be revoked and
    The Fed must be held accountable.

    2.) Stop Congress’ Reckless Spending - We must freeze all non-entitlement spending by the federal government at
    current levels and eliminate wasteful spending both domestically and in our trillion-dollar overseas budget.

    3.) Cut Taxes - If Wall Street can be given your tax dollars, shouldn’t you get some back? It’s time to cut taxes and return your money to you. Combined with spending reform, this will increase the purchasing power of our dollars and help lessen the economic storm.

    4.) Reform the Monetary System - If we are to have long-term economic progress, we must end the system of printing money out of thin air. The current laws limiting the circulation of gold and silver-backed currency must be overturned.

    WHAT CAN I DO?

    Write, call, email, and fax your representatives and ask them to support Ron Paul’s bill immediately!

    Join Patriotic Voter Bomb to vote out those who voted for the “bailout” and other unconstitutional bills. The site contains a list of offenders from all states, for reference and is also looking for input from like-minded people.

    http://www.voterbomb.com/2008/

    Politicians are like diapers; must be changed often for the same reason.

  2. Aspen Eggimann on October 10th, 2008 9:14 pm

    Way to go Steve! Can we vote for you on November 4th?

    We do have the capacity as a nation to use our resources to better our economy and our world. So why aren’t we doing it? Sitting back and letting the government continue to dictate how are economy will be run is obviously not working. So what is the next step?

    My vote would be education on a quick level, then action on a grand level. Don’t be scared by the economic downturn. Human action is what will dictate where we go from here as a nation (see soon to be written article). It is the action that each of us take that will let us rise again as a nation.

    The question is then not, What will happen next? But what will YOU do before it does?

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