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Normally I steer away from Rolling Stone and their articles. However, this one makes some very good points and arguments in regards to the Obama administration’s catastrophically negative impact on the U.S. economy. As in the author of the article Obama’s Big Sellout stated, “This new team of bubble-fattened ex-bankers and laissez-faire intellectuals then proceeded to sell us all out, instituting a massive, trickle-up bailout and systematically gutting regulatory reform from the inside.” Which in my opinion, is putting it mildly. It is and has been a buy out of the major banks and automobile companies in aspirations to gain even more of a government foothold. And as the article points out, “… the extensive series of loophole-rich financial “reforms” that the Democrats are currently pushing may ultimately do more harm than good.”

It is also explains that during the campaign Obama had advisers which focused heavily on helping the poor and middle class, and condemned the bankers of Wall Street. But the day after Barack Obama was elected to office, he did away with those advisers and replaced them with the total opposite, Wall Street bankers. Which “Leading the search for the president’s new economic team was his close friend and Harvard Law classmate Michael Froman, a high-ranking executive at Citigroup.” And it wasn’t long after he was made official in his office that Obama made the $306 billion bailout of Citigroup and agreed to make taxpayers pay up to $277 billion in losses for the Citi assets.

It is very interesting to say the least to see how the web of Obama’s economic team was formed. There is no interest in helping the poor or middle class. It is about making more money and expanding government control. The author of the cited article does well showing the timeline of events and the connections of the appointees. However, he is clearly a democrat and was at one time for Obama. He also uses a fair amount of profanity, which is completely unnecessary for getting his point across. But I do think it is a worthwhile read for informational purposes if you read it to the end.

Article cited:

WARNING THE FOLLOWING LINK DOES CONTAIN PROFANITY (very unnecessarily)

http://www.rollingstone.com/politics/story/31234647/obamas_big_sellout/4

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If you were not aware of what our country is doing to our economy this should give you a pretty good idea. We have in the past months been told by several nations to slow our spending, stop the stimulus money, stop the unnecessary programs, and other advice since the stimulus packages by President Bush and President Obama have been passed. The Obama administration is not taking heed to any advice though and just keeps on spending, keeps suggesting more government controlled programs that we don’t want and they can’t afford.

So, what do we get in return? The United Nations wanting to replace the US dollar (which is the current world’s reserve currency) and replace it with a new global currency. Is this good for the US, no, of course not. This could ultimately send us into an economic collapse in which we may never recover. But can you really blame them? Look at how carelessly Obama and the two Houses have been just freely spending money like it will never run out in order to fund the socialistic agenda. I saw a quote by Margaret Thatcher that reminds me of this, it said “The problem with socialism is that eventually you run out of other people’s money.” Obviously, from this article in the Telegraph, we can see that our global financiers are not going to be doing so much longer.

Read the article here:

http://www.telegraph.co.uk/finance/currency/6152204/UN-wants-new-global-currency-to-replace-dollar.html

UPDATE 09/14/09:

Report from the International Monetary Fund stated, “…the international supply of two key reserve assets—gold and the U.S. dollar—proved inadequate for supporting the expansion of world trade and financial development that was taking place.”

World Net Daily’s Jerome Corsi comments, “If the plan succeeds, the United Nations would effectively end up replacing the United States as the issuer of the one-world international currency used as the standard of foreign exchange to settle international trade transactions,” Corsi wrote. “The move would obviate the need for any nation state in the future to be the arbiter of world trade, marking yet another blow to national sovereignty on the path to one-world government.”

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