Tuesday, 13 October 2009

Congresswoman Kaptur: There Has Been a Financial Coup D'Etat

In Michael Moore's new film Capitalism: A Love Story, Congresswoman Kaptur says there has been a financial coup d'etat, and that Wall Street - rather than Congress - is in charge.

In a must-watch interview with Bill Moyers broadcast Friday night, Kaptur also said:

* The Federal Housing Agency used to insure 1 in 50 mortgages. But FHA now insures 1 in 4 mortgages, as the debt for bad mortgages has been dumped on the American people

* "Banks have the power to create money". This again confirms and verifies that banks create money out of thin air, not based on the amount of reserve deposits on hand.

These days the US Congress is more corrupt than ever. The "representatives" are beholden to special corporate interests. Things can change, but it will require very determined action by the people to be successful. Organised resistance.

[Posted at the SpookyWeather blog, October 13th, 2009.]

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