Saturday, July 14, 2012
Soft Money Tryanny
WE suffer the insufferable evil of the Progressive Soft Money Tyranny in our Great American Republic.
Andrew Jackson had crushed the Second Bank of the United States in 1836. The Second Bank of the United States issued paper money, known as soft money that was capitalized by “Promises to pay”.
During this Federal legislative political battle over the Charter of the Second Bank of the United States, State Chartered Banks were expanding their issuing of soft money. The State Banks sought to profit in the market once dominated by the now defunct soft money Second Bank of the United States.
Andrew Jackson has been belittled by the Revisionist Historians for his infamous response to the Cherokee Nation Removal to the West, poignantly known as the Trail of Tears.
What the Revisionist Historians will not share, is the point that the Specie Circular Act Andrew Jackson issued on July 15th, 1836 put the United States of America back on the road to Hard Currency and economic expansion.
The Revisionist Historians dwell upon the “Financial Panic of 1837” which was the direct result of the soft money issuing State Chartered Banks collapsing when their currency was not accepted by the Treasury of the United States after December 1936.
The collapse of the soft money issuing State Charter Banks was a market correction, which resulted in the economic adjustments throughout 1837. The Economic Panic of 1837 did not move into 1838.
Quite the contrast we face today following the last Soft Money Financial Bubble Burst in September 2008. After Four years of the Trouble Asset Relief Program, the American Recovery and Reinvestment Act, the burgeoning Patient Protection and Affordable Care Act, our Economy is dominated by tens of millions of Americans turning to the American State taxpayer funded State Government administered entitlement offices.
The working American Economy is collapsing with a loss over nearly a million jobs a month for the past 40 months. Where do those forty million former workers go when there is no economic expansion? They head down to the local entitlement office, some out of choice, others out of dispirited necessity.
The Progressives have successfully closed down local faith based charity with the statutory suppression of private wealth dating from the New Deal, compounded by the Great Society and crushed under the Soft Money tax and spend polices of the Current Crop of Progressives that to this day dominate the leadership of the 112th Congress.
The Progressives that dominate our National and State Politics showed their collective and deceptive hands in September 2008 when the so called "Republican Conservative 110th Congress" enacted the Troubled Asset Relief Program.
Unlike Andrew Jackson who responded to soft money manipulation by reinstituting Constitutional Currency, George W. Bush chose to support the unconstitutional printing of Soft Money. This enabled the Secretary of Treasury Henry Paulson; former Soft Money King of Goldman Sachs, to brow beat the financial markets into Progressive compliance. There sat the Secretary of Treasury Henry Paulson in the Conference Room with unwilling Financial Managers, who were instructed to accept the TARP funds in order to covertly hide in plain sight the Federal Statutory Financial Reorganization of six major soft money centers that were bankrupted by the Collapse of the Derivative Market in September 2008.
The result was that in less than four months the radical Progressive Barrack Hussein Obama, sitting with his fellow Socialistic travelers Nancy Pelosi, and Harry Reid sitting collectively in the 111th Congress freely implemented the Progressive central management programs that expanded the economic tyranny of soft money tax and oppressive polices that have turned our once thriving liberty loving Republic into a culture dominated by Entitlement seeking Citizens.