The Bailout – a Coup? (Paul Hein)

Paul Hein on the bailouts:

The government’s bailout (buyout?) of some of the country’s largest financial institutions has, of course, generated a great deal of public interest and criticism. People want to know whom to blame, but the real culprit – the Federal Reserve System – is never assigned that role. They want to know how it could happen, but the fact that the nature of our monetary system makes it inevitable is not offered as an answer.

Sadly, the most interesting questions are never asked. Isn’t anyone interested in the intriguing fact that the government, which is hundreds of billions of dollars in debt, is going to put up 700 billion in this bailout? It’s all very well to say that the government will get it from the taxpayers, but where are the taxpayers going to get it?

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