Will Grigg's Liberty Minute

March 17, 2008

At the end of the trading day on March 14, Bear Stearns investment bank was valued at more than three and a half billion dollars. Over the weekend, JP Morgan Chase bought out Bear Stearns for a mere $236 million dollars, paying just $2 a share ? ninety-three percent less than the bank?s stock commanded just two days earlier.

Bear Stearns, the nation?s fifth largest investment bank, was essentially bankrupt, its stock basically worthless. How many other major banks are in the same condition? Market analyst Chris Whalen predicts that bank failures will ?go all the way up the chain.?

According to economist James Howard Kunstler: "The US faces a pretty stark choice right now: it can let the losers take their losses ? or, in an effort to let these losers off the hook we can wreck the whole machinery of capital by making our medium-of-exchange worthless."

The Federal Reserve has chosen the second course. Is your family prepared for the coming hyperinflation?

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