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FDR, Obama and the ‘Economic Royalists’

Posted on Friday, 26th August 2011 @ 02:56 AM by Text Size A | A | A

As President Obama seeks ‘compromise’ with the very forces determined to destroy the last shreds of what is laughingly referred to as our ‘social safety net’–various groups and individuals on the ‘true left wing’ are feverishly working to wake up the nation.  These ‘debt ceiling’ negotiations have become a golden opportunity for political blackmail by those who seek to destroy Social Security, Medicare and Medicaid.  This goes far beyond the lunacy of the Tea Party–it speaks to a mentality FDR aptly named the …”economic royalists.”

It turns out the callous disregard for economic equity and a sense of humanity was equally strong in the days following the ‘crash’ of 1929 and the subsequent Great Depression.  Those days found continuing child labor, homelessness and famine equal to what many parts of Africa is now experiencing.  In his speech before the 1936 Democratic National Convention, FDR gave a speech he titled…”A Rendezvous With Destiny,” where he vehemently denounced the ‘economic royalists’ for the treasonous lot they were.  To quote:

“The royalists of the economic order conceded that political freedom was the business of the government, but they have maintained that ECONOMIC SLAVERY was nobody’s business.  They granted that the government could protect the citizen in his right to vote, but they DENIED THAT THE GOVERNMENT COULD DO ANYTHING TO PROTECT THE CITIZEN IN HIS RIGHT TO WORK AND HIS RIGHT TO LIVE.”
(Source : http://www.austincc.edu/patrick/his2341/fdr-36acceptancespeech.htm)

The truth that FDR spoke was so clear, that GOP radicals still work to discredit his legacy.  Though the GOP has degraded itself to the ranks of petty dictators, selfish hypocrites and religious zealots–the Democratic Leadership (President Obama included)–has sunk lower.  George W. Bush could never have achieved the destruction of Social Security and Medicare directly to the same level President Obama has–by his constant surrendering to GOP and corporatist dictates.  Perhaps that is the genius of Obama–his ability to surrender and make it look like an actual battle took place.  Frankly, the time has come to abandon Obama as some sort of post-modern hero and look to the true champions on the REAL LEFT.

The Real Left Wing…Not Obama’s Anemic Fraud

There are some true warriors out there–they just don’t get much publicity.  These are the true leftists which should be considered as challengers to the DLC aka. the Do-Nothing Leadership Council.  The first one that comes to mind is Senator Bernie Sanders.  While my ‘democratic’ Senator Claire McCaskill was busy working with GOP Senator Corker crafting the CAP bill (a bill which would have made automatic cuts to Social Security and Medicare so vicious, they made Paul Ryan’s plan look like charity); Sanders pushed through an amendment which REQUIRED A GOVERNMENT AUDIT OF THE FEDERAL RESERVE.  (Source : http://sanders.senate.gov/imo/media/GAO Fed Investigation.pdf)
The pdf file of the actual report can be easily downloaded.  What Sanders found was evidence of a gross misconduct at every level.

What Senator Sanders discovered….and every member of congress had access to….

Senator Sanders circulated the report on the Federal Reserve Audit to the public via his website, since the mainstream media found J’Lo’s pending divorce more compelling than this audit.  (Source : http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3)  The main fact revealed by this very thorough audit was that the Federal Reserve LOANED OUT 16 TRILLION DOLLARS TO VARIOUS AMERICAN AND FOREIGN BANKS.  No mention of this report has been considered by Congress or this President.  Apparently, retirees can see their Social Security and Medicare on the chopping block, but forcing these banks to repay the Fed is not considered germane.  Keep in mind this is the same Fed that demands dramatic debt reduction which would destroy Social Security and Medicare, yet would hold the US taxpayer responsible for these ‘loans.’  Why isn’t this 16 TRILLION IN THE DEBT CEILING NEGOTIATIONS?  Why hasn’t the Chairman of the Fed been held accountable for these actions?

Where did the money go…..

If the Fed loans money to the US Government, which we must repay, and the Fed is nothing more than a group of private bankers–why should they have such unlimited sway with Congress and the President?  Why doesn’t our government create our own currency instead of borrowing from private banks?  Why should the American taxpayer fund the private banks with the previous taxpayer bailout when the money we sent them was loaned to us–by those same private banks?  If some sharp kid from ‘the hood’ did the same–he would be facing criminal charges of loan sharking.  Why is the Federal Reserve any different?

Historically speaking, the Federal Reserve aka the ‘Fed’ has been held as a psuedo-governmental body, yet there is nothing ‘federal’ about it.  Back in 1932, Rep. Louis T. McFadden gave a speech denouncing the Fed as one giant scam.  Here is a portion of the speech:

…”Some people think that the Federal Reserve Banks are United States Government institutions.  They are private monopolies which prey upon the people of the United States for the benefit of themselves and their foreign customers; FOREIGN AND DOMESTIC SPECULATORS AND SWINDLERS; AND RICH AND PREDATORY MONEY LENDERS.”
(Source : http://www.afn.org/~govern/mcfadden_speech_1932.html )
–The Honorable Louis T. McFadden, Chairman of the House Banking and Currency Committee int he 1930’s)

Even corporatist Henry Ford admitted to the shady underpinnings of the ‘Fed’, when he claimed that…

“It is well enough that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”  (Source: http://www.goodreads.com/author/quotes/203714.Henry_Ford)

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