Free Republic

ROOT CAUSES OF THE ECONOMIC MELTDOWN 1) THE CREATION OF THE FEDERAL RESERVE [FED]. This is centralized banking as practiced in the U.S. The birth of the FED was signed into law by President Woodrow Wilson (D) on Dec. 24, 1913. Reflecting on this he later said, “I am a most unhappy man; unwittingly I have ruined my country….” The FED is a private consortium of bankers the heads of which are appointed by the executive branch of government. Many people believe that their first loyalty lies with bankers—including Wall Street bankers and foreign bankers—more than with the American people....

Mexico will soon bestow its highest honor upon liberal Sen. Edward Kennedy (D-Mass.) for his work in “defending the rights of immigrants.” The Mexican government announced last Friday that it intends to present Kennedy with the Order of the Aztec Eagle. Ricardo Alday, a spokesman for the Mexican Embassy in Washington, D.C., told Cybercast News Service that the award, the highest that Mexico gives to foreigners, will be presented “at a time that is convenient to the senator.” The presentation will laud Kennedy for his work on immigration, and “for (promoting) full political participation and increased access to health and...

The United States Senate has approved additional funding of $162bn (£82bn) for operations in Iraq and Afghanistan. The bill includes significant extra funding for US war veterans' education and unemployment benefits. It is a victory for President Bush, and does not include any timetables for withdrawing US troops from Iraq, something Mr Bush vigorously opposed. With the new funding, the total US budget for Iraq and Afghanistan now stands at more than $800bn (£400bn). The bill allows the Pentagon to pay for US military operations in Iraq and Afghanistan until mid-2009. It also envisages a significant increase in college education...