Best of the Week
Most Popular
1. The Trump Stock Market Trap May Be Triggered - Barry_M_Ferguson
2.Why are Central Banks Buying Gold and Dumping Dollars? - Richard_Mills
3.US China War - Thucydides Trap and gold - Richard_Mills
4.Gold Price Trend Forcast to End September 2019 - Nadeem_Walayat
5.Money Saving Kids Gardening Growing Giant Sunflowers Summer Fun - Anika_Walayat
6.US Dollar Breakdown Begins, Gold Price to Bolt Higher - Jim_Willie_CB
7.INTEL (INTC) Stock Investing to Profit From AI Machine Learning Boom - Nadeem_Walayat
8.Will Google AI Kill Us? Man vs Machine Intelligence - N_Walayat
9.US Prepares for Currency War with China - Richard_Mills
10.Gold Price Epochal Breakout Will Not Be Negated by a Correction - Clive Maund
Last 7 days
How to Play Interest Rates in US Real Estate - 20th Aug 19
Stocks Likely to Breakout Instead of Gold - 20th Aug 19
Top 6 Tips to Attract Followers On SoundCloud - 20th Aug 19
Holiday Nightmares - Your Caravan is Missing! - 20th Aug 19
UK House Building and House Prices Trend Forecast - 20th Aug 19
The Next Stock Market Breakdown And The Setup - 20th Aug 19
5 Ways to Save by Using a Mortgage Broker - 20th Aug 19
Is This Time Different? Predictive Power of the Yield Curve and Gold - 19th Aug 19
New Dawn for the iGaming Industry in the United States - 19th Aug 19
Gold Set to Correct but Internals Remain Bullish - 19th Aug 19
Stock Market Correction Continues - 19th Aug 19
The Number One Gold Stock Of 2019 - 19th Aug 19
The State of the Financial Union - 18th Aug 19
The Nuts and Bolts: Yield Inversion Says Recession is Coming But it May take 24 months - 18th Aug 19
Markets August 19 Turn Date is Tomorrow – Are You Ready? - 18th Aug 19
JOHNSON AND JOHNSON - JNJ for Life Extension Pharma Stocks Investing - 17th Aug 19
Negative Bond Market Yields Tell A Story Of Shifting Economic Stock Market Leadership - 17th Aug 19
Is Stock Market About to Crash? Three Charts That Suggest It’s Possible - 17th Aug 19
It’s Time For Colombia To Dump The Peso - 17th Aug 19
Gold & Silver Stand Strong amid Stock Volatility & Falling Rates - 16th Aug 19
Gold Mining Stocks Q2’19 Fundamentals - 16th Aug 19
Silver, Transports, and Dow Jones Index At Targets – What Direct Next? - 16th Aug 19
When the US Bond Market Bubble Blows Up! - 16th Aug 19
Dark days are closing in on Apple - 16th Aug 19
Precious Metals Gone Wild! Reaching Initial Targets – Now What’s Next - 16th Aug 19
US Government Is Beholden To The Fed; And Vice-Versa - 15th Aug 19
GBP vs USD Forex Pair Swings Into Focus Amid Brexit Chaos - 15th Aug 19
US Negative Interest Rates Go Mainstream - With Some Glaring Omissions - 15th Aug 19
US Stock Market Could Fall 12% to 25% - 15th Aug 19
A Level Exam Results School Live Reaction Shock 2019! - 15th Aug 19
It's Time to Get Serious about Silver - 15th Aug 19
The EagleFX Beginners Guide – Financial Markets - 15th Aug 19
Central Banks Move To Keep The Global Markets Party Rolling – Part III - 14th Aug 19
You Have to Buy Bonds Even When Interest Rates Are Low - 14th Aug 19
Gold Near Term Risk is Increasing - 14th Aug 19
Installment Loans vs Personal Bank Loans - 14th Aug 19
ROCHE - RHHBY Life Extension Pharma Stocks Investing - 14th Aug 19
Gold Bulls Must Love the Hong Kong Protests - 14th Aug 19
Gold, Markets and Invasive Species - 14th Aug 19
Cannabis Stocks With Millennial Appeal - 14th Aug 19
August 19 (Crazy Ivan) Stock Market Event Only A Few Days Away - 13th Aug 19
This is the real move in gold and silver… it’s going to be multiyear - 13th Aug 19
Global Central Banks Kick Can Down The Road Again - 13th Aug 19
US Dollar Finally the Achillles Heel - 13th Aug 19
Financial Success Formula Failure - 13th Aug 19
How to Test Your Car Alternator with a Multimeter - 13th Aug 19
London Under Attack! Victoria Embankment Gardens Statues and Monuments - 13th Aug 19
More Stock Market Weakness Ahead - 12th Aug 19
Global Central Banks Move To Keep The Party Rolling Onward - 12th Aug 19
All Eyes On Copper - 12th Aug 19
History of Yield Curve Inversions and Gold - 12th Aug 19
Precious Metals Soar on Falling Yields, Currency Turmoil - 12th Aug 19
Why GraphQL? The Benefits Explained - 12th Aug 19

Market Oracle FREE Newsletter

The No 1 Gold Stock for 2019

Economic Austerity, The right to know why and for whom

Politics / Economic Austerity Jul 19, 2011 - 07:57 AM GMT

By: Michael_T_Bucci


I don't like an acquiescent democracy. And that is exactly what the American people have become: a people who stand in line, keep their mouths shut and do what they're told.

The line which Americans now stand upon leads straight to Athens. The politicians of both parties have convinced the American people that they are responsible for the deficit and rightfully are due austerity measures that have yet to be outlined or disclosed. The entire debt problem - long in gestation - was obfuscated by the media, given little if any public exposure, now its solution is presented as a fait accompli: The American people are found guilty by a secret jury and judge, a sentence of austerity is pronounced with specifics to follow. Reaction from the American people? Shock, finger-pointing, anger, confusion, paralysis, chaos, depression, escape, etc. Reaction from the people's politicians: Solid consensus about austerity, no debate on it, no alternatives, no disclosures, ongoing political theatre and charades, stonewalling, muddiness, clouding, smokescreens.

If you found a $15 trillion error on your credit card and by prior legal agreement you were obligated to pay it, what would you do? You would call and report the error. You would ask what the charges were for. You would ask who charged it. You would refuse to pay because you considered it an act of fraud. In the case of Washington putting a charge on the American people's credit card, the response should be no different. How was the money spent? Who spent it? Who authorized the expense? Are the charges legitimate or illegitimate?  Is there proof of criminal activity or fraud? Where are the audits of the Federal Reserve, and the U.S. Military? Am I obligated to pay because all politicians (of both parties) have agreed I pay? What are my rights? Where is my defense attorney?
At the Watergate hearings of 1974, Senator Howard Baker of Connecticut asked two key questions that since have lived-on. He asked: "What did the President know, and when did he know it?" At this point in 2011, before the people of the United States agree to pay off a debt placed on their credit card that they may have not charged, they need another Howard Baker to ask three questions of their leaders (the self-styled judges and jury): "Where did the Trillions go, who authorized it, and to whom is it owed?"

Do you know the answers, or do you only think you know the answers?

There is not a watcher of Europe who is not aware of the life -choking and -threatening measures imposed upon Greece by the Troika during the last year. Greece is a textbook template for what is coming to the United States via its financial warriors, and maybe later by its own military. How many Americans know the details of this subject? How much media space and time (of an elucidating, discussion and debating nature) has been devoted to explaining the generic details of "austerity" or structural adjustment programs? Who is providing a mechanism to challenge the prescription, and to challenge the doctors?

Stand in line, keep your mouth shut and do what you're told? Or, stop the game now! and lets get the answers first? So far, there is only one answer for every question asked: austerity!

Karl Rove institutionalized the "surge" tactic in politics. Write the bill, force it through Congress before any opportunity for debate, and then impose it on the people. From the Patriot Act to TARP, surges proved the most effective way to circumscribe the normal legislative process, and preempt participation by the people. Today, the surge tactic implemented for passage of austerity measures is no different, except that it will cost Americans their livelihoods, their homes, their medicine, their health, their communities, and ultimately, I maintain, their national sovereignty.

The experts from banking, finance, economics and "the market" have churned the sea with red and black numbers that do more to baffle than enlighten. The public is expected to bow to the experts as they do the doctor.
So did the Greeks.

As I have a right to refuse the doctor's prescription and walk out of the hospital, I have the right to say NO to my government until I get satisfactory answers to my questions.

If democracy is going to survive this crisis, it must now assert citizen participation, freedom of speech, tolerance of opinions, open and vigorous debate, restoration of civil liberties, right to question and inquire of Government, demand full public disclosure of this matter and others, and, if nothing else...

The people must ask three simple questions any Howard Baker would ask today: "Where did the Trillions go, who authorized it, and to whom is it owed?"

The answers to these questions will unravel all of the others. Do you know the answers? Or do you only think you know the answers?

Is this America, or are we "all Greeks now"?

(As in all matters, may the truth ultimately prevail and justice be done.)

By Michael T Bucci

Michael T Bucci is a retired public relations executive from New Jersey presently residing in New England. His essays have appeared at The Market Oracle. He is the author of nine books on practical spirituality including White Book: Cerithous.

    © 2011 Copyright Michael T Bucci - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules