NO Bailout for Main Street

It can seem confusing and complicated to view how the
Central Bank and Congress interact. Who is responsible for what and how it all
works.

Let me give you a 30,000 ft. view to help.

The question is why is Main Street not getting loans from
bank and why the Fed is not going to bailout local governments.

Let me just say the system is broken.

You see the Central Bank, created by bankers for bankers
called the Federal Reserve, which is a private company is at the root of the
problem.

When the banks created this credit mess in 2008 and got into
credit trouble along with non-banks, the Fed picked and decided who they would
help with massive amount of “credit”. Reports show up to 3.3 trillion dollars
with just the click of a keyboard, no need for the printing press here. So
winners and losers were picked by the Fed. It’s important to know that some
helped were not banks.

Now today. Local governments are in real trouble and up to
50 or more local governments could go under. So why is the Fed now saying they
don’t have the ability to help?

The Fed Chairman Mr. Ben Bernanke said his hands are tied!
Really. Looking at how it helped non-banks in the past and picking winners and losers
why now, not helping the local governments? He quotes Section 13.

The Dodd Frank bill and all, I have the notes but too
detailed to put it all here.

The long and the short of it, Congress could pass another
law like the Dodd Frank bill and tell the Fed to help, or Congress could issue
credit loans. But let’s be clear, just as Senator Dick Durbin said in a radio
program in April 2009, Congress is owned by the banks. Changes in the law are
more likely to go the other way.

So what is the out?

It’s not for local government to cut needed services like
police and teacher to pressure the public to pay more taxes.

What we are seeing is a monopoly of funds and control of
those funds. The Fed is saying it doesn’t want the local muni market. Congress
could change that. The total bailout for all the government would be about 150
billion, the Fed said it could cause hyperinflation. Really, 3.3 trillion in
bailout so far and 150 will be the tipping point? Come on, we are not that
stupid.

Now we see that if you are a banker and in the private club
of the Fed, they could help you, all others need not apply.

The solution! State and local governments should work with
the people and form a State bank like BND, Bank of North Dakota. Each state can
create its own “mini fed” to create credit and with the tax deposits and the
banking system, we don’t need the Central Bank for money. The power is in each
state to follow the lead of the only bank in America that is NOT under the
Federal Reserve.

We can create our own credit and lean money to ourselves and
match dollars with material and labor to create jobs and the interest goes to
fund the cost of government and lower taxes on the people.

Google the Bank of North Dakota and call your representative
and have our state help ourselves.

I am available to speak to your group on this topic and
reasons why the Fed is not helping Main Street, remember we are not part of the
private club of the Fed.

Greed has no motherland.