The Basics of the Credit Crunch

The current supposed economic crisis is going to repeat itself. I can almost certainly promise you this. Even if this bailout works, it still will come down eventually.

You must understand what is going on. The financial institutions of this nation have many outstanding loans and credit card debts. The value of these outstanding loans are in the billions. The financial institutions wants 1.8 trillion to back up that debt that is owed to them from these outstanding loans. Then the banks will once again issue credit to the consumers and small businesses, allowing them to build even more debt with them.

Basically we are footing the bill for years of bad loans & credit card debt owed to the banks so you can go out and "buy more stuff" on credit. If that makes any sense...

What I do not understand, is why do we as Americans allow these people to dictate our money? Why does the government not issue the currency so that they are not paying it back with interest? Why is there a private corporation controlling our currency? If you do not know, the Federal reserve is about as federal as Federal Express. They are a corporation. Google it.

Our nation borrows money from this corporation and pays it back with interest. It is a complete scam on the tax payers of this nation. If the government issued our currency, the bankers would not have the power to threaten the collapse of our economy.

Something to think about...