Will Grigg?s Liberty Minute

April 6, 2009

Since last September, the Treasury Department and Federal Reserve have spent, lent, or issued loan guarantees totaling $12.98 trillion. Last year?s Gross Domestic Product ? the combined value of all productivity and assets ? was $14.2 trillion.

The price tag for this exercise in corporate communism is $42,105 for every American. The amount of money diverted into the rescue effort is fourteen times the $900 billion in U.S. currency presently in circulation.

It?s entirely likely that the Treasury and Fed have siphoned away the equivalent of the entire U.S. economy.

With foreign investors gagging on Treasury notes, the Federal Reserve has begun the process of monetizing the debt by buying T-bills. Monetizing the entire bailout so far would result in an inflation factor of 1,400 percent.

Our rulers are prepared to sacrifice the middle class in a futile attempt to save Wall Street from its own corruption.

Let us take back the liberty wherewith Christ has made us free.