Treasury Direct Home Loans - Fire the Fed By Kent Welton

[Demeter]

OpEdNews

Original Content at http://www.opednews.com/articles/opedne_kent_wel_071209_treasury_direct_home.htm


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December 9, 2007






The near tillion-dollar chaos in the housing and stocks markets today is a direct result of our private central bank policies, its inherent conflicts of interest with the people of the United States, and a lack of reasonable market regulation and taxation. With home loans, there is no reason why we, the people, given the power by our Constitution, cannot get our home loans direct from our own Treasury. By doing so we, as a people, can agree to either a no-interest or low-interest home loan program – all via stable, unchanging, reasonable mortgage vehicles not subject to the predations of the market and its manipulative "masters of the universe" bond dealers.

In this way we avoid all the secondary market chaos and criminality which we see today and which will likely wind up costing taxpayers more billions in bailouts. As always, the harm and costs spread to other markets and the bailouts mean more money that must be borrowed at interest from a private cartel and which, had a public home loan bank system been in place, could instead have funded more low or no interest Treasury-direct home loans. If, for example, we adopted a regime of two percent home loans - all funded thru existing banking, savings and loans, and credit union structures - we could then have stable, low-interest, home loans with one big difference – i.e., the source of funds... not to mention far greater penalties for fraud. Not only would we not be paying this low interest to and thru the debt-money bond dealers who own "our" Federal Reserve but, instead, the interest, if any, would be paid directly into our public Treasury. Such funds could then be used to make new loans or go to reduce our taxes, and fund infrastrucure – all without debt-money chicanery and slavery.

Our real problem is that you’ll never hear of such options because the corporate "free press" and our corporate-financed politicians dare not speak of such "radical" proposals or any such freedom from the "New York money" cartel - despite the clear constitutional directive handed down to We, The People....Clearly, the family home is the very building block of society – our society. We should then be able to decide (easy with a National Initiative process) that we are going to act like any small community and help our neighbors build their homes and minimize the cost – just like a nation-wide "barn raising." Or, do we want to screw our kids with endless interest and non-portable equity buildup?

Why do you think the ruling banking elite are scrambling so hard to look like they are relieving the burden of the now millions facing foreclosure? It is simply because it is now an election-year political question, and not one of long standing morality or changing the system. Of course, any Wall Street concoction, even messing with contractual agreements, will also mean very conditional and selective help – and this atop more taxpayer bailouts and debt-money added to our already off-the-charts public debt...The founders knew what they were doing when they placed the "purse powers" in Congress – i.e., the most representative body of the people. Unfortunately, they did not leave us with the initiative power to override a corrupt and bought-off congress which has saddled us not only with a private central bank scheme but also a corporate-run WTO/GATT/NAFTA forced-trade regime.

In any case, we do not need to dismantle the "Fed" to accomplish this end. We simply need, by Congressional action, to remove the home-loan funding power to the Treasury exclusively. Commercial lending can remain under the present regime, although a recapture of the central bank by the people would be preferable....The predation and profiteering in our home loan system is simply immoral, immense, and inexcusable. The system must be changed, and the people must regain control over their home loan apparatus, or we face recurrent tragedies and ever greater debt , dislocation, and taxation until it all implodes and we are forced to pay the ultimate price.

Kent Welton,

PublicCentralBank.com





Authors Website: TheCenterForBalance.org

Authors Bio: Author, Exec. Dir. The Center For Balance. Websites: PanditPress.com, OligarchyUSA.com, PublicCentralBank.com, EditorFreedom.com, FascismUSA.COM & more

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