Emporer Paulson-tine

Mike Whitney has a pretty sobering post up at Information Clearing House about what Hank Paulson is really, really asking Congress to do: abdicate the rest of its oversight and regulatory duties to him and him alone.

These are dark times. While you were sleeping the cockroaches were busy about their work, rummaging through the US Constitution, and putting the finishing touches on a scheme to assert absolute power over the nation's financial markets and the country's economic future. Industry representative Henry Paulson has submitted legislation to congress that will finally end the pretense that Bush controls anything more than reading the lines from a 4' by 6' teleprompter situated just inches from his lifeless pupils. Paulson is in charge now, and the coronation is set for sometime early next week. He rose to power in a stealthily-executed Bankster's Coup in which he, and his coterie of dodgy friends, declared martial law on the US economy while elevating himself to supreme leader.

"All Hail Caesar!" The days of the republic are over.

Section 8 of the proposed legislation says it all:

"Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."

Right; "non-reviewable" supremacy.

Congress, of course, is more than eager to abdicate whatever little authority they have left. They're infinitely grateful for their purely ceremonial role, the equivalent of Caligula's horse, albeit, with considerably less dignity. Has even one senator spoken out against this madness, which--according to informal internet polls--is resoundingly rejected by the voters? Does it concern the members of congress at all, that the present financial crisis was brought on by the proliferation and sale of trillions of dollars of mortgage-banked garbage which were fraudulently represented as Triple A rated bonds by the very same people who now claim to need unprecedented and dictatorial powers to fix the problem? Or are they more worried that the steady torrent of contributions which flows from Wall Street to congressional campaign coffers will be inconveniently disrupted if they fail to ratify this latest assault on democratic governance? The House of Representatives is one big steaming dungheap that should be leveled and turned into an amusement park instead of a taxpayer-funded knocking shop. What a pathetic collection of cowards and scumbags.

Paulson is trying to engineer a coup for a reason: he knows what's coming. He's convinced he needs this extraordinary singular power to nationalize and control the financial sector, to "declare martial law on Wall Street" as Whitney puts it, because it's only a matter of time before our economy collapses.

He's preparing the way for the fascist takeover of the economy. Hyperinflation is the only way out of this mess. The dollar is done for as I have been saying time after time after time. He will need extraordinary and unchecked authority to do what he knows he will have to do and he knows there's a very good chance he will need to do it before the next election. Even worse, this could very well be the neon sign that the fix is in and that Paulson plans to be McSame's Economic Emporer.

Let's honestly think about this. Two weeks ago we were told the economy is strong and that Wall Street's free market innovation was the envy of the world. Now we're being told that Congress has a matter of days to pass a blank check that could total in the trillions and must give unlimited power to Henry Paulson or that the Second Great Depression will be upon us.

There's a reason I'm talking some scary shit here. That's because this shit is truly scary.