The US Constitution requires that only gold and silver COIN are to be lawful money, expressly forbids the use of paper money, and authorizes only the US Congress to coin money. However, in 1913, JP Morgan, JD Rockefeller and other powerful banking interests set up today’s FED by using their deep pockets and political connections to push through the Federal Reserve Act of 1913. 

The Federal Reserve Act subverts many foundational tenets of the US Constitution and has allowed successive generations of Greenspans, Bernankes and Geithners to blow the economy, leaving us where we are right now.

In an atmosphere of public distrust toward bankers, much akin to today’s environment, Morgan and Rockefeller spoke vociferously against the act while privately spending millions in support of it. Their head-fake worked and has given us the magnificent destruction we see today.

In reality, the elites have a very limited playbook, but they also have the huge luxury of a complacent and compliant US public.

Now along comes Obama to deliver the same one-two to the Simpletons in Stupidville.

President Barack Obama and everyone else in Washington is in a sprint for the microphones to express outrage at the big bonuses for the knuckleheads who screwed up American International Group and threaten to do the same to the rest of the economy.

Obama wants to take every legal step possible to kill the bonuses. Sen. Chuck Grassley (R-Iowa) wants the AIG executives to consider killing not just the bonuses but themselves, too.

But with with the average American family’s wealth down 18% due to the collapse of the credit bubble, it’s morning in America and that playbook just lost a page.

Here’s something neither Obama nor Grassley answered in their bellicose remarks Monday: Why did it take so long for the president and senior lawmakers to get so worked up? More troubling, why did it take so long for them to discover AIG planned to give huge bonuses in the first place?

The fact that the main stream media whores are actually asking that question in public shows the turn we’ve taken.

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