A Letter to America
From Joe Six-Pack
To My Fellow Americans:
I write to you on this very historic occasion in the history of our great country- the United States of America. I am Joe Six-Pack, a typical American man. As I write, the entire world's financial system has collapsed- that's right collapsed, not "on the edge of a melt-down", nor "a close call". It is not working as we speak. The only thing calming nerves in the recent week (October 11) is the promise of trillions of dollars (worldwide) to "rescue" it. Hopefully the calm will be maintained for a while. I think the "plan" is to maintain the calm until at least the election. The underlying problem is derivatives. Yes it is related to the housing bubble, but it eclipses the housing bubble. The derivatives bubble itself is 1/2 to 1 $Quadrillion dollars (estimates vary)- one quadrillion is $1,000,000,000,000,000: $ 1000 Trillion, or $1 Million Billion. Yes this is a unimaginable number, and that is the size of the gambling casino that has frozen up. The housing bubble at best is $15 trillion dollars. I think Aex Stanczyk, an investment advisor, said it best when he described a huge elephant tottering out of control, and little Ben Bernanke and Henry Paulson running around its feet saying in little voices, 'ummm... Mr. elephant, please don't step on that, oh...don't step on that...".
I will not try and explain what derivatives are now, but clearly it is a big part of the current financial problem. Go to Take BackThe Fed , or Financial Blackmail, and watch the Senate hearing on the role of derivatives in the current crisis (October 14). It is a giant gambling casino. Many who gambled on, for instance, mortgage backed securities HAD NO INTEREST IN THEM AT ALL. They just wanted to bet that they would fail! Yes, it is a giant side bet ponzi scheme. And do you know what? The idiots in Washington want US to bail them out! This is credit default swaps (CDS) you may have heard about in recent weeks- JP Morgan, Bear Stearns (remember them?), AIG and others. CDS are around $62 trillion themselves.
Folks, this is the scary part. Joe Six-Pack has been expecting this to happen for over 15 years. I believed that someday derivatives would get out of hand and cause a huge financial collapse. I am not the only one of course. There were economists who worried about derivatives. This is not to say I am smarter or anything like that, but rather to say, that a typical guy apparently understood what was happening, while apparently many if not most of the experts did not (or were too busy profiting from it). But here is the scariest part- neither John McCain nor Barak Obama seemed to have even a clue that this was the issue! John McCain, not a month ago said "the fundamentals are sound"! Yet Joe Six-Pack, not a presidential candidate was waiting for it to happen! I am sorry, but we have a real disconnect here. We have two candidates who DO NOT HAVE a clue about the magnitude of the problem (maybe by now they are getting briefed), and we are supposed to look to them to solve this problem? This is scary!
I am talking straight to you here. Joe Six-Pack is saying this is potentially one of the most severe financial collapses in history let alone the last 80 years. In no time in history have they created a $1 QUADRILLION derivatives bubble then had it collapse (let alone even created one of any size). We have no idea how to fix it, yet, the idiots in Washinton DC are going to try and save the GAMBLING CASINO! And they are going to do it at our expense! Joe Six-Pack proposed back in MARCH of this year that we either fully nationalize the Fed, put it into bankruptcy, and create a new currency, or minimally at least just create the new currency. Please read and support Take Back The Fed. This is fully Constitutional, and has been done a number of times in our nations history. Joe Six-Pack has also tried to warn against allowing Congress being blackmailed into accepting the bail-out (oh, excuse, me "rescue") package. Folks this is going to devastate our nation, completely. This derivatives bubble completely eclipses the real economy, and these idiots are going to attempt to save it for their Wall Street buddies? Please visit and support Financial Blackmail.
I do not expect everyone to have known about derivatives, nor understood their dangers, but I do expect a potential president to have a definite grasp on this. We currently have two candidates with no apparent knowledge of what is actually happening. Even worse is if all along they DID know about it , and did not warn us. Then one wonders what their motives are? Joe Six-Pack started siv0 in January this year to try and warn the public. What did John McCain and Barak Obama do to warn Americans about the collapse?
Personally, being Catholic, and more generally Christian, I cannot support Barak Obama even if I wanted to due to his strong support for abortion (and yes, all niceties aside, he does SUPPORT abortion, he is PRO-ABORTION, remember, I am Joe Six-Pack). John McCain is an honorable man, but I believe he will support the Wall Street crowd (same with Barak Obama in my view), and neither appear to have even a clue as to what is actually happening. This is completely unacceptable. We need a president who knew what was happening, communicated it, and thus has a reasonable chance of making the right moves to fix it.
I know of only one current candidate in a major party with these qualities- it is Ron Paul, a Republican Congressman from Texas. Mr. Paul already introduced legislation (HR 2755) to abolish the Fed! He did this back in July 2007! Mr. Paul has been laughed at, kept out of debates, and largely ignored by the media. Why? BEACUSE HE KNEW THE TRUTH.
Joe Six-Pack was really not that interested in supporting Mr. Paul in 2007. I heard about him. I concluded that he was a moral man, and had some good ideas, and thought him worth considering. That was about it. But as the financial collapse unwound, I started to realize that he was THE ONLY CANDIDATE who understood and communicated the truth of what is happening to the public. I am not sure he has all the right solutions, but we are electing him President, not dictator. And I am confident he will work to restore the constitution (to whatever degree a president can).
Joe Six-Pack currently supports Ron Paul. I realize he is not the Republican Party's chosen candidate, but he is mine at this point. You may say, "he does not have a chance". Joe Six-Pack replies: In ordinary circumstances he does not stand a chance. We are not in ordinary circumstances. We are in a historically unprecedented financial collapse, and very few people even know what is actually happening- certainly not McCain or Obama. Ron Paul does. And, yes it matters. We cannot have another dim man surrounded by "smart" people. Depending on what happens in the next weeks before the election, public perception about who should be president could change substantially. If more unprecedented failures occur, and more panics ensue (even with the trillions of dollars being pumped into the dollar based system), then all Americans may come to realize that we have two fluff figures, two empty shirts vying for leadership of our country. These are two men who have spent too much time in politics and not enough understanding what was happening. I do respect both men to some degree, but on the most critical issue of our or any time in US history, they frankly have no clue. And if they do understand what is happening, but did not communicate it to us, it is even worse. When the electoral college delegates cast the final votes for president, frankly there is a small chance that they may say, 'we, as Americans, cannot elect one of these clueless leaders to lead our country'. And if they change their votes, it is perfectly Constitutional (though they may have some problems at the state level). Everyone talks about the wisdom of our country's fathers. Well one wise thing they did was to take the final vote out of the popular realm. They purposely enacted a system of delegates. What if there were obvious election fraud detected? What if the winning candidate was determined to have commited a heinous crime? What if America WOKE UP and realized that the candidates were party and media created empty shirts?
So, what can the average American (Joe and Joanna Six-Pack) do? I say:
1. Support Ron Paul, and let him and the Republican party know you do.
2. Write Ron Paul in on the ballot
3. Contact the delegates and be sure they know you support Ron Paul. Be sure they are fully aware that they can change their votes.
4. If you want to vote Independent, vote Libertarian or some other conservative party likely to have delegates who will pick Ron Paul (most states have a winner takes all rule, be sure you know how your state operates) when most likely your candidate loses. Because of the winner takes all rule, this is the least desireable route.
Folks, whether you are Republican, Democratic, or another political party, I believe this is the only hope for this country. We need a leader who understands what is actually happening, and has communicated it, and even taken actions towards solving it (i.e., HR2755). So far Ron Paul is the only candidate who has these qualities.
October 18. 2008