Obviously the bankers have their ducks in a row to take full advantage of the catastrophe they’ve created.
Daily Archives: October 22, 2011
Wall Street and Student Debt Foregiveness
Among the demands of the Wall Street protesters is student debt forgiveness—a debt “jubilee.” Occupy Philly has a “Student Loan Jubilee Working Group,” and other groups are studying the issue. Commentators say debt forgiveness is impossible. Who would foot the bill? But there is one deep pocket that could pull it off—the Federal Reserve. In its first quantitative easing program (QE1), the Fed removed $1.3 trillion in toxic assets from the books of Wall Street banks. For QE4, it could remove $1 trillion in toxic debt from the backs of millions of students.
The economy would only be the better for it, as was shown by the G.I. Bill, which provided virtually-free higher education for returning veterans, along with low-interest loans for housing and business. The G.I. Bill had a sevenfold return. It was one of the best investments Congress ever made.
Concerns Mount on U.S. Biological Weapons Violations
“The Center for Disease Control has declined to confirm or deny allegations that the United States government is stockpiling biological and/or chemical weapons at Sierra Army Depot, a military base in Northern California.
“According to Ron Davenport, who was a biomedical engineer who worked at the medical clinic at Sierra Army depot in the seventies, the base at one time contained a stockpile of nuclear weapons. Davenport states that much of the base is actually underground. This reporter has obtained the testimony of a civilian contractor with a security clearance who has stated that the nukes have been replaced by large vats of liquid.”
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