In his testimony, Bank of America CEO Ken Lewis told New York’s Attorney General that then-Treasury Secretary Henry Paulson threatened him on December 21st with the prospect of removing the management and Board of Directors of Bank of America if Lewis refused to complete the merger with Merrill Lynch even though Merrill was hemorrhaging money.

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Look in Article I, Section 8 of the Constitution. Do you see the Federal Reserve anywhere? Does an elite, banking cartel possess the constitutional authority to dictate our monetary policy? The Constitution seems to be pretty clear. The US Congress has been given the authority to dictate fiscal and monetary policy.

However, Congress surrendered this authority when it established the Federal Reserve Act in 1913. Since then, according to some economists and politicians, the value of the US Dollar has lost about 95% of its value. For example, an item that cost $100 in 1913 would have cost $2015 in 2006. Such is the consequence of a Federal Reserve banking system that has provided cheap credit, manipulated interest rates, and printed trillions of dollars out of thin air for most of the last 96 years.  (more…)

This Wikipedia article provides a chart documenting federal debt as a percentage of GDP since World War II. Some question the validity of Wikipedia’s statistics at times, so you may want to take this chart with a grain of salt.  (more…)