GOVERNMENT BAIL-OUT OF BANKS & COMPANIES

TIDBITS   Nov. 15, 2008    “Bringing you the TRUTH since 1982”

By Sir Peter Bonnell  

International News Columnist      www.tidbitsnews.com

  It is both unconstitutional and illegal for the government to use taxpayer money to bail out Banks or Companies and also the government is forbidden to own or invest in private enterprise. This money can only legally and constitutionally be paid TO THE TAXPAYERS.

  The present state of the economy should and would be solved by setting a formula based on the income tax paid by all taxpayers in the last several years and divide that into the trillions of dollars being issued for all bailouts. This money should be sent in the form of checks immediately to those taxpayers in that amount. It is the taxpayer’s money and can only be sent directly to them legally…and ONLY to those that have PAID income tax.

  These taxpayers would then be putting these trillions of dollars in the economy, buying cars, houses and other products saving the dying companies also…yes, and even the banks because some items would have to be financed. This would solve the entire crisis we now face.

  55% of the original bail-out $1 Trillion dollars went to communist Chinese banks, 45% to International Bankers who also own a large portion of the communist Chinese banks and only approximately 5% to U.S. banks. And what happened to this money, they just put it in their pockets and the stock market declined even further…and much more rapidly.

  The bankers that have broken laws should also be prosecuted to the fullest extent of the law. Any country refusing to extradite these people to us for trial should cause a boycott of all products from that country into the U.S. and also from the U.S. to them.  In addition any and all foreign aide should cease to these countries.

  All monies that have been paid out and not recouped by the government should be paid back to these taxpayers in the now depreciated value of preferred stock ownership in those companies rather than allow the government any part of ownership in those companies because THAT is also illegal and unconstitutional.

  If all Americans would write their Senators and Representative and demand this be instituted the whole economic crises would be solved. All members of Congress have sworn an oath “To defend and uphold the Constitution of the United States” any voting for the bail-outs are breaking their oath of office and they should be removed from office immediately. Tell them this when you write them. If they vote for the bail-outs rather than pay the money directly to the taxpayers, work to have them removed from office.

  In my original column “The Bank Bail-Out” I mentioned this solution, I did not hear even one politician mention it on TV or in the news, only on Bloomberg TV did one investment advisor quote this solution almost word for word. I am sure patriotic congressmen such as Ron Paul (R) and Zack Space (D) and others would push to have this plan implemented.

 All Americans should become involved in this…its YOUR MONEY and ONLY YOUR MONEY.

.*Sir Peter Bonnell is an American who was Knighted in 1977 for "an outstanding fight against world communism". He was promoted to Commander & Brig. Gen. in 1978, served as Ambassador 1978 - 1980, appointed as Chairman of the Ohio Governor's Export Council to Central America in 1982 and also raised and delivered free medical supplies to those fighting the communists in Nicaragua during that time. His political writings are distributed to news services in the U. S. and other countries. www.tidbitsnews.com

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