Chrysler Bankruptcy and the Nathional Interest

The bond holders of Chrysler refused to be the victims of the government's efforts to sweep the company's problems under the rug. Predictably, Obama chastised them for not being willing to follow the path of destruction taken by the holders of GM's debt.

Earlier Thursday an administration official said the restructuring of Chrysler LLC will go forward even though a handful of hedge funds have refused to accept the Treasury Department's offer to cut the auto maker's debt.

"Their failure to act in either their own economic interest or the national interest does not diminish the accomplishments" by Chrysler, its planned alliance partner Fiat SpA and other stakeholders in the company, the official said, "nor will it impede the new opportunity Chrysler now has to restructure and emerge stronger going forward."

They are acting in their own economic interest. That is what the administration is condemning them for. They did not loan money to Chrysler because they wanted to perform some nationalist service, nor should they now sacrifice by losing even more than they all ready have for that reason. The government's efforts to destroy the bondholder's value will make it impossible for any company to raise capital by selling bonds, for no one will have the confidence that the government will not then steal the value of their investment for the "national interest."

Read this passage from Atlas Shrugged and ask if we are not already there:

...men who apologize for being rich- will not remain rich for long. Hey are the natural bait for the swarms of looters that stay under rocks for centuries, but come crawling out at the first smell of a man who begs to be forgiven for the guilt of owning wealth. They will hasten to relieve him of that guilt - and his life, as he deserves.

Then you will see the rise of the men of the double standard-the men who live by force, yet count on those who live by trade to create the value of their looted money - the men who are the hitchhikers of virtue. In a moral society, these are the criminals, and the statutes are written to protect you against them. But when a society establishes criminals-by-right and looters-by-law - men who use force to seize the wealth of disarmed victims - then money becomes it's creator's avenger. Such looters believe it is safe to rob defenseless men, once they've passed a law to disarm them. But their loot becomes the magnet for other looters, who get it from them as they got it. Then the race goes, not to the ablest at production, but to those most ruthless at brutality. When force is the standard, the murderer wins over the pickpocket. And then that society vanishes, in a spread of ruins and slaughter.

Producers and investors are the right and left hands of prosperity. Our politicians want to cut off the hands of investors and loot the fruit of the producer's labor all in the "national interest." No one will invest and no one will produce if no one but the looters will prosper.

Atlas will shrug.






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First Black President Reinstates Slavery

A true irony. By signing the National Service Bill, Barack Obama will institute mandatory "volunteer" service for school children and "opportunities" for older Americans to "give back" to their communities. Of particular interest is these opportunities include "political or legislative advocacy." Just call them Obama Jugen.

"Most people think national service is for young people," said a statement issued by John Gomperts, president of Civic Ventures, a group that promotes opportunities for older people. "And it is. But once President Obama signs this legislation, service will be for people of all ages."

Chains we can Believe in







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The Richmond Tea Party, The Begining

The Big White Dog and I were at the Richmond Tea Party with my wife and a friend. The Patrick Henry Impersonator, one of the Patriots of Virginia did a fine job of performing that famous speech known by the statement spoken in unison by the crowd, "Give me liberty, or give me death!"

The crowd was estimated by one of the mounted police officers at 3500. You can see by the pictures that the park was packed beyond capacity. I arrived at about 6:30 and passed a steady stream of people leaving who had come early. There was a tightly packed crowd with many more coming in when we joined in. Tucker and I walked the perimeter meeting many people. The crown was the same mixture one would find at any park on any sunny day. Older couples, to young families were all braving rainy cold weather to make a statement of frustration with those who are supposed to represent us but instead ignore our letters, phone calls and emails, the only acknowledgment being some boiler plate generated by computer. They no more read our correspondence that the laws they pass.

The politicians seem to wish we would all just disappear. They dismiss us as elitist , wealthy taxpayers and anti government right wing extremists. Only Fox News has made any attempt to report what we are doing. CNN just sent out a hit job reporter the try and bully people she interviewed. I say let them ignore us at their peril.

The first is the overflow on the street, then the back end of the crown, the new arrivals and the veiw to my left after I arrived. Finally the Patriots of Virginia.












































































More pictures at The Write Side of My Brain, Bearing Drift, Richmond Tea Party: The Blog and video at Richmond BizSense.













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The Constitution and Old Ironsides

It was altogether fitting that among the tea party protests mounted across the country yesterday, one was held at Boston. - Fitting not just because that was the location of the first one many years ago, but also because a United States warship was built there in 1797, a 44-gun frigate christened the US CONSTITUTION, one of the first six warships provided by the Congress. Under full sail, she was a mighty fighting ship to behold.

The CONSTITUTION was well built, well manned and well skippered, such that she spent more time at sea and won more victories than any other US warship of its time. Yet, she came through her many battles with so little damage to her hull that she was nicknamed, "Old Ironsides."

In 1830, the Navy decided to demolish the CONSTITUTION. But, when the American people learned of the Navy plans, they were outraged. And Oliver Wendell Holmes on September 16, 1830 published his poem, "Old Ironsides."

"Ay, tear her tattered ensign down!" he wrote.
"Long has it waved on high,
And many an eye has danced to see
That banner in the sky;"

* * * *
"Her deck, once red with heroes' blood,"

* * * * "

In the context of current counter-piracy operations involving the US Navy, it is significant that the CONSTITUTION was Commodore Preble's flagship in the war with Tripoli; and one of her captains was William Bainbridge, whose name is carried by the US destroyer that responded to the capture of the American commercial cargo ship, MAERSK ALABAMA in April of 2009.

Now, just as it was important to preserve the grand old warship CONSTITUTION in 1830, it is extremely important today that we revoke the unauthorized changes made to our sacred governing Constitution by the Franklin Roosevelt, Lyndon Johnson, George Bush and Barack Obama administrations.

Following are examples of the damaging blows suffered by the Constitution.

Massive contorted use of the commerce clause by FDR.
Annulment of property rights in 2005 by the New London, Connecticut city government.
Mr Obama violating separation of powers by authorizing funding of embrionic stem cell research, and establishing a 250,000-member uniformed national security force.
Mr Bush and Mr Obama nationalizing financial and auto industries.
Mr Obama and Congress requiring the states to accept "stimulus" payments from the federal government.
The Obama executive branch attacking a private citizen, Rush Limbaugh for his expression of political views.
The 111th Congress in early 2009 crafting punitive legislation with a bill of attainder aimed at individual corporate executive officers.
Mr Obama issuing to police chiefs and sheriffs nationwide a Department of Homeland Security intelligence report labelling as potential terrorists returning combat veterans, anti-abortionists and anti-illegal aliens.
Mr Obama asserting his post-national, global views, at the expense of United States sovereignty.

Our precious Constitution: "Tear her tattered ensign [Old Glory] down?" NEVER!!

Rather, let us patch the gaping holes and remove the destabilizing superstructure erected by traitors and greedy politicians.


Francis Baker
POMIL Research Analyst
giarmy@earthlink.net







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The Anti Tea Party Campaign Has Begun

It appears someone of means is working to sabotage the Tea Party Movement. I got this message from Eric McGrane Of the Richmond Tea Party.

There is a robo-call telephone campaign being waged against the tea party event that is misinforming the public as to the correct date/time for the event.

Please be aware that the event is **STILL** being held on April 15th @ 6:00 at Kanawha Plaza in downtown Richmond.

Please check with any others that you know are attending to be sure that they still have the correct date/time.

I assume our event is being viewed as a threat, because we're now seeing dirty tricks being waged against our efforts. Fight on!

The powers that be would like nothing better than this movement to fizzle out and go away. What they fear most is an open discussion of what is happening and what the goal of those in government is. The nature of government is tyranny, the goal of politicians is power, the obstacle of these is an informed and engaged citizenry. These events are the beginning of our effort to bring our government back into the boundaries of our constitution. If this movement can be nipped in the bud the tyrants will have won. I for one will not go away.










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