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Proud To Be American? You Should Be Ashamed
Market Ticker ^ | June 15, 2009 | Karl Denninger

Posted on 06/15/2009 1:01:24 PM PDT by Lorianne

We have seen the largest looting operation in history perpetrated against The American People.

Over $5 trillion dollars in junk securities were marketed and sold. They had a real value of about $2 trillion dollars; the other $3 trillion, roughly, was pure fiction.

The banks created and sold these throughout the world, with the full knowledge and support of Congress, The Fed, and the banks themselves.

It was pure fraud.

Americans have sat on their butts through all of this, allowed their 401ks and IRAs to be trashed, their supposed "home values" to be pumped and then destroyed, and their hopes, dreams, employment and house have all vanished into the ether of fraud.

We have seen a few "tea parties" in which a few people showed up and which were immediately panned by "those in power" as "astroturf."

Contrast with this.

A few days ago, Iran held an election. It is alleged that there was massive fraud. The current President claimed victory under less-than-clear circumstances.

The people said "hell no!" in this sort of demonstration:

That's about 2 million people, out of 70 million population (roughly), or one in thirty-five Iranians in the entire nation who took to the streets to demand justice in a simple vote.

More strikingly, Tehran has a population of roughly 12 million; this means that one in six citizens of the city are standing in that crowd.

This, despite the fact that the government there has been shooting people, has arrested the opposition party and issued an order to burn the ballots so there can be no recount.

This, despite the fact that the Iranian population does not enjoy a Second Amendment, and thus is forced to fight a rogue government with makeshift molotov cocktails, rocks and clubs, should that rogue government choose to shoot.

In our nation we have literally had 1/3rd of our GDP - that is, 1/3rd of everything you worked for last year - stolen by a bunch of fraudsters with the explicit cooperation and assistance of the government.

We should be seeing 10 million Americans literally closing Washington DC with peaceful protest in the streets - making the entirety of the downtown inaccessible to vehicles and the normal conduct of business impossible, were Americans to display the same sort of anger over an insult vastly more serious than that served upon the Iranian people.

If one in six Americans had enough in America's big cities, there would be one million people in the Streets of Chicago - enough to fill Chicago's Loop from Lake Michigan to I-90/94 and from The Chicago River to beyond Soldier Field, rendering the city core impassable. (Roughly double the crowd that shows up for the 4th of July Fireworks, to put it in perspective. "Greater Chicagoland" has a population of ~7 million)

The same in NY City would result in a crowd of 3.3 million people.

Where are you America?

[excerpted for length]


TOPICS: Business/Economy; Government
KEYWORDS: 111th; bho44; bhoeconomy; economy; financialmeltdown; theft
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Please read the article, not just the title, before posting. Thanks
1 posted on 06/15/2009 1:01:24 PM PDT by Lorianne
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To: Lorianne
Nobody will be protesting Obamunism!
They wanted hopeychangey Obamunism, and by golly, they are going to get it.


2 posted on 06/15/2009 1:07:14 PM PDT by Bon mots
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To: Lorianne
Judging by the statistics, we aren't talking about doing anything.

We're just quietly stocking up...

3 posted on 06/15/2009 1:07:24 PM PDT by null and void (We are now in day 147 of our national holiday from reality.)
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To: Lorianne
Good way to put things into perspective. I think there are a lot of people that would follow and uprising like this, we need people to start leading.
4 posted on 06/15/2009 1:07:55 PM PDT by Mind Freed ("Every man has the right to be a fool 5 minutes a day. Wisdom is not exceeding the limit.")
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To: Lorianne
Sorry, I don't have time. Baseball season is going strong, football camps open in a few weeks, there's a great race for points leader in NASCAR, & who's going to win the next American Idol. Now those things matter! ( extreme sarcasm!)
5 posted on 06/15/2009 1:08:26 PM PDT by Russ (Repeal the 17th amendment)
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To: Lorianne

We suck.


6 posted on 06/15/2009 1:08:33 PM PDT by Lazamataz (Too sick for words!)
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To: Lorianne

Bernanke needs to be fired. If I said what I really think about Greenspan I’d be banned from FR.


7 posted on 06/15/2009 1:19:21 PM PDT by khnyny ("The demagogue is one who preaches doctrines he knows to be untrue to men he knows to be idiots.")
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To: Lorianne

I agree that Americans are far too complacent on economic matters, but I’m not ashamed of my country, particularly in contrast to Iran. If our complaceny is shameful, what can be said of a citizenry who allowed themselves to be stripped of their guns, allowed a theocratic coup to take place, and have quietly endured torture, repression and poverty since 1979? Whatever our shortcomings, and there are many, we have endured as a uniquely free people for more than two centuries, and before we ever devolve into the kind of society that a minority of those in Iran now oppose, I assure you, we will fight to death to preserve our core liberties.


8 posted on 06/15/2009 1:26:23 PM PDT by americanophile
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To: Lorianne

For all the protests, nothing is going to change in Iran. For allthe protests, nothing is going to change here until after the 2010 elections, and that only if people vote the people who brought us to this out of office. And this time they vote with their eyes wide open.


9 posted on 06/15/2009 1:31:19 PM PDT by Excellence (What Madoff is to finance Gore is to global warming.)
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To: null and void

I would leave this afternoon if something was organized in D.C. and I also could pickup several other people on the way from Birmingham to Washington and give them a free ride.

We really do need a leader.


10 posted on 06/15/2009 1:33:47 PM PDT by Quigley
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To: americanophile
allowed a theocratic coup to take place,

Theocratic, no, Stalinist yes.

11 posted on 06/15/2009 1:35:02 PM PDT by frogjerk (C-NJ)
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To: Lorianne

I read the whole thing...I still don’t like the title. It is so Michelle Obama ish. We were disgusted when she said it and now this? Why not use another title. Anyway, I guess Iranians have more time to do this. Americans in general are very busy and don’t have the time for this. I am not saying it is right, but who can afford to take a day off in these times when pink slips are being given out like candy. I see the point, but maybe if these things were on Saturday more folks could show up. Why does it have to be a weekday? And no I am not ashamed of America!!!! We are a strong country that will prosper again! Sheesh we had a civil war here for goodness sake. those were bad times.


12 posted on 06/15/2009 1:36:08 PM PDT by napscoordinator
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To: Lorianne

Thanks, Karl. BTW, I haven’t seen you in the street recently. If I’m wrong and you were there, please send a pic. Thanks.


13 posted on 06/15/2009 1:36:37 PM PDT by Dr. Thorne (Buy Gold and Guns Now.)
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To: Lorianne

Ever since the election of Chairman BO, I have had to ask myself what does it mean to be an American, or what does it mean to be patriotic? Until everyone begins to ask themselves these questions and formulates some answer, I fear that people will be little more than sheep.

As for me, America is an ideal in which people can enjoy the fruits of their labor without government intervention: maximum freedom, minimum government.

What we have today is maximum government, minimum freedom. This is not America and supporting such a government is not being patriotic. This government has enslaved generations in endless debt and dependency. Somewhere in the history of America, we lost America.


14 posted on 06/15/2009 1:38:03 PM PDT by Nosterrex
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To: Mind Freed

Look. The American people VOTED these clowns into office. This is what they want. Why would these same people take to the streets protesting? Most people are happy.


15 posted on 06/15/2009 1:41:05 PM PDT by Conservativegreatgrandma (I)
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To: americanophile

Ignore my previous post. I misread your comment.


16 posted on 06/15/2009 1:41:54 PM PDT by frogjerk (C-NJ)
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To: khnyny
"If I said what I really think about Greenspan I’d be banned from FR"

Greenspan is and was a totalitarian elitist. He hung out with Rand, and rather than picking up on her Objectivist/Libertarian philosophy, he picked up on her dictatorial means of keeping her troops in line.

As a supposed libertarian Greenspan should have been completely opposed to the idea of a Federal Reserve. If we are supporters of a free market, then why would we want one of the most basic commodities of a free market, namely loans, regulated in anyway by government or quasi-governmental organizations?

Instead he viewed himself as the king and his crony capitalist CEO cabal as his nobles. His policies were meant to protect these lofty souls from the rigors of the marketplace filled with the foul stench of the swine of everyday business owners and workers.

If only we were as refined as France and had the guillotine...

17 posted on 06/15/2009 1:51:22 PM PDT by who_would_fardels_bear (The cosmos is about the smallest hole a man can stick his head in. - Chesterton)
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To: Conservativegreatgrandma
Look. The American people VOTED these clowns into office. This is what they want. Why would these same people take to the streets protesting? Most people are happy.

You are exactly right. Those people who voted for Obama most likely still think he is God, and nothing, not even the total destruction of this country, will convince them otherwise (they'll just blame Bush).

I don't mean to excuse our inaction, because I think that if we really honored the principles upon which this country was founded, we would be going after our irresponsible government with all of the fury that the 2nd Amendment allows and to hell with the Obama voters, but our situation is vastly different from Iran. In Iran, a small group of Muslim nutjobs is oppressing most of the population. In our country, roughly half of the population is embracing this country's destruction. Our fight would not just be against the government, but against our fellow citizens (although many, if not most, of those "citizens" are actually foreign nationals who just happened to be born on US soil).

Only when the true Americans decide that the anti-Americans who infest this country are no longer entitled to a vote will we have the real uprising that we so sorely need.
18 posted on 06/15/2009 1:52:29 PM PDT by fr_freak
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To: Lorianne
How am I going to fit protesting into my busy schedule?

Following the worshipful accounts of the Obama marriage, the Obama dog, Michelle's fashions, and Michelle's arms simply leave me no time.

19 posted on 06/15/2009 2:00:20 PM PDT by Lizavetta (Politicians: When they're not lying, they're stealing.)
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To: Russ

“orry, I don’t have time. Baseball season is going strong, football camps open in a few weeks, there’s a great race for points leader in NASCAR, & who’s going to win the next American Idol. Now those things matter! ( extreme sarcasm!)”

You joke, but that’s exactly what those things are on the tube for.


20 posted on 06/15/2009 2:02:31 PM PDT by RoadTest (For there is one God, and one mediator between God and men, the man Christ Jesus - I Tim 2:5)
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