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05/11/2011

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I never knew that HC worked in the Federal Reserve system. I had written him off for other reasons, though.

On occasion I'll hear him on the radio. While not as irksome as some others, it's still the same old playbook: freedom's good until republicans have power, then freedom's just not politically possible. And when someone comes along who believes in freedom, like Ron Paul, he is almost NEVER mentioned.

I happened to hear Rush yesterday and he was going on and on about nothing, as usual. The latest nothing had to do with President Obama going on a "crass" victory tour over the killing of OBL. I couldn't help but wonder about that "mission accomplished" sign behind President Bush years ago.

I just received word from Dr. Mike, who ran for house rep in these parts during the last cycle. He was at a republican luncheon with Mr. Cain and asked him about the SPP. Apparently, he adamantly denied ever being involved.

Wow. That makes the whole thing even creepier.

People also need to be told about the discount window, and what it means when they read that 'banks used the money to improve their bottom line and did not lend it out'.

The money was 'lent' to the banks through the discount window at zero or 1% interest. They then buy treasury bonds -- i.e. loan it back to us at 3% interest. So when they 'pay it back' they keep the 2% difference in INTEREST THEY GOT FROM US ON MONEY WE LOANED TO THEM FOR FREE.

A nice game, if you can get it.

Paid back, my foot.

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