Will Grigg?s Liberty Minute

September 16, 2008

Last Friday, there were five major investment banks on Wall Street.
Today there are three. Lehman Brothers, a 158-year-old investment colossus that helped fund the transcontinental railroad, has filed for bankruptcy. Merrill Lynch was bought out by Bank of America.

The American International Group (or AIG), one of the world?s largest insurance firms, requested a $40 billion short-term loan from the Federal Reserve. AIG, which insures many of the mortgage-related bonds that are going bad, is desperately trying to stave off bankruptcy. The same is true of Washington Mutual. Investment broker Wilbur Ross predicts that up to 1,000 banks will fail over the next few months.

Alan Greenspan calls the ongoing panic the worst economic catastrophe in a century. As Fed Chairman, Greenspan cultivated this crisis by abetting the growth of the now-collapsing global debt bubble.

We must abolish the Federal Reserve, and return to a sound, constitutional currency, in order to restore economic sanity and
recover the liberty wherewith Christ has made us free.