Draft Economic
Recovery Program

 To Stop The Bush Depression


By Webster Tarpley  

1-22-8
 
1. Stop all foreclosures immediately for at least five years and for the duration of the depression by means of a compulsory federal law carrying criminal penalties. No foreclosures on homes, family farms, factories, public utilities, hospitals, transportation and other infrastructure. Outlaw adjustable rate mortgages.
 
2. Raise the federal minimum wage immediately to a living wage of at least $15 per hour, with the short-term goal of attaining a federal minimum wage of at least $20 per hour.
 
3. Immediate enactment of a securities transfer tax (STT) or Tobin tax of 1% to be imposed on all financial turnover in all financial markets to include the New York Stock Exchange, the NASDAQ, the Amex, the Chicago Board of Trade, the Chicago Board Options Exchange, the Chicago Mercantile Exchange, the market in federal securities, the foreign exchange market, the New York Mercantile Exchange, and all other financial markets. This tax will be paid by the seller. This tax will be extended to the notional value of all derivatives, including over-the-counter derivatives, exchange traded derivatives, structured notes, designer derivatives and all other financial paper. Derivatives will become reportable under penalty of law. It is conservatively estimated that the securities transfer tax will yield approximately $5 trillion of new revenue in its first year of application. This new revenue will permit a stabilization and consolidation of Social Security, Medicare, and Medicaid, and will permit the expansion of Head Start, the Food Stamps program, WIC, the Veterans Administration hospitals, while extending unemployment insurance up to an initial total of at least 52 weeks, to be prolonged as needed. Provide revenue sharing to deal with the looming deficits of states, counties, and municipalities.
 
4. Using the new revenue obtained from the securities transfer tax on Wall Street financiers, provide comprehensive tax relief for all small businesses, thus permitting them to pay the new living wage. Small business will also be aided by the provision of national single-payer health care, as described below.
 
5. Implement Medicare for all in the form of a single payer, universal coverage, publicly administered system to provide healthcare for all. No rationing of care will be permitted under any circumstances. Cost-cutting will be achieved through eliminating exorbitant corporate profits, through administrative reform, and above all through a federally-funded crash program, on the scale of the Manhattan Project, of biomedical research designed to discover new and more effective treatments and cures for the principal diseases currently afflicting humanity.
 
6. Simultaneously, enact comprehensive income tax relief for working families, raising the standard deduction for married filing jointly and the personal exemption to at least $25,000 each. This would mean that a family of four would pay no federal income tax on their first $125,000 of income. Expand the earned income tax credit (EITC) to approximately 4 times its current level, with at least $150 billion paid out. Increase EITC payments to persons living alone as well as to families with children. Make all college tuition and fees expenses deductible, and remove the limits on the Hope and Lifetime Learning tax credits. Return to the FDR-Ike-JFK 90% top marginal rate for unearned income ­ capital gains, interest, dividends, royalties, etc., not wages or self-employment -- of taxpayers with federal adjusted gross income over $25 million. Roll back the scandalous Bush tax cuts for the rich. Favor progressive taxation over proportional and regressive taxation at every level. Phase out the most regressive taxes, like the poll tax and the sales tax.
 
7. Nationalize the Federal Reserve System and establish it as a bureau of the United States Treasury. The current privatized status of the Federal Reserve System constitutes a violation of the United States Constitution. The size of the money supply and interest rates will henceforward be decided not by cliques of private bankers meeting in secret, but rather by public laws passed by the House and Senate, and signed by the president. Use this authority to immediately issue an initial tranche of $1 trillion of new federal credits at 1% yearly interest rates and maturities up to 30 years, to be repeated as needed. Consider credit as a public utility. Make this initial credit issue available on a priority basis to states, counties and local governments for the purpose of infrastructure modernization. Distribute credit to the private sector for high-technology re-industrialization in plant, equipment and jobs, manufacturing, mining, farming, construction, and other production of tangible physical wealth and commodities only. Aim at the creation of 5 to 7 million new productive jobs at union pay scales per year to achieve full employment for the first time in decades.
 
8. Federally-sponsored infrastructure projects will include a new nationwide network of magnetic levitation railways, as well as light rail systems to facilitate commuting in all urban centers. These economical and attractive light rail systems will allow a large portion of the vehicle miles by private automobile using internal combustion engines to be phased out of use in daily commuting. Launch a public works program of highway and bridge reconstruction, water management systems, electrical grids, hospitals, schools, cultural facilities, and public libraries.
 
9. Comprehensive re-regulation of the entire financial and banking system. Regulate the current non-bank banks. Bring all the hedge funds under the oversight of the Securities and Exchange Commission, thus effectively ending their special outlaw status as hedge funds. Begin aggressive enforcement of all applicable antitrust and securities fraud laws, as well as all existing labor legislation, including child labor, wages and hours, etc. Repeal the Taft-Hartley law with its anti-union "right to work" provisions, re-affirm the inalienable right to collective bargaining, and revive the National Labor Relations Board as an effective ally of working people. Full Davis-Bacon Act enforcement for all federal contracts, without exception. Tax leveraged buyouts and private capital deals, including all profits deriving from them, in whatever form. End corporate welfare, and establish consumer protection. Revive Glass-Steagall to prevent nationwide banking oligopolies combining commercial banking with investment banking.
 
10.  Free college for all qualified students. Any student earning a high school diploma will be entitled to free tuition and fees at a community college or state university. High quality remedial courses to give high-school dropouts a second chance, no matter what their age. Without investment in the human capital of a highly trained work force, there can be no economic survival in the 21st century. Federal aid to raise teacher salaries through revenue sharing.
 
11.  Announce the intention of the United States to abrogate NAFTA, WTO, and all other international free trade agreements which have destroyed employment in this country, while increasing the poverty levels of the third world. Introduce a low protective tariff, starting at 10% ad valorem on manufactured commodities to prevent reckless dumping.
 
12.  Investment tax credit for purchase modern technology in the form of new physical tangible capital goods. Tax breaks for the creation of new jobs in physical commodity production. Severe tax penalties for the export of jobs to third world sweatshops.
 
13.  Immediately impeach and remove from office both Bush and Cheney, since otherwise all effective measures to deal with the Bush economic depression will be crippled by presidential vetoes. Prepare the impeachment of the RATS (Roberts-Alito-Thomas-Scalia) cabal of the Supreme Court, if they should attempt to sabotage this emergency economic recovery program under the color of judicial review.
 
14.  Protect the family farm by a program of debt moratorium for farmers, no foreclosures, 1% long-term federal credit for spring planting needs and capital improvements, Restore parity prices at 125% of parity. Rebuild farm surpluses and food stockpiles. Food for Peace for famine relief abroad.
 
15. Keep open the options of capital controls and exchange controls if required by further deterioration of the crisis. Prepare to freeze most categories of financial debt (debt moratorium) for the duration of the crisis. Revive Defense Production Act powers to mandate production of needed commodities by private sector, as needed.
 
16.  Call an international economic conference of sovereign states to deal with this unprecedented world economic depression. The United States should take the lead in proposing a new world monetary system based on the alienable right of all nations and peoples to modern economic development and to the enjoyment of the fullest fruits of science, technology, industry, progress, and rising standards of living. The new monetary system should be based on fixed parities with narrow bands of fluctuation among the euro, the dollar, the yen, the ruble, and other world currencies, including emerging Latin American and Middle East regional currencies, with periodic settlement of balance of payments discrepancies in gold among national authorities. The goal of the new system is to promote world economic recovery through large-scale export of the most modern high-technology capital goods from the US, EU, and Japan to the developing countries. Create a Multilateral Development Bank with an initial capital of 1 trillion euros from US, UK, Japan, and other exporters to finance investment in the poorest countries with 1%, revolving loans with maturities up to thirty years. Immediate, permanent, and unconditional cancellation of all international financial debts of the poorest countries.
 
17. Revive international humanitarian, scientific and technological cooperation for the benefit of all nations. Roll back epidemic, tropical, and endemic diseases with an international program of biomedical research. Join with all interested nations in a joint international effort to develop new energy resources in the field of high-energy physics. Fund and expand an international cooperative commitment to the exploration, permanent colonization, and economic development of the moon and nearby planets. The spin-offs from these three science drivers will provide the new technologies for the next wave of economic modernization.
 
18.  Revive the Franklin D. Roosevelt "freedom from want" provision of the Atlantic Charter as elaborated in the Economic Bill of Rights from  the State of the Union Address of January 1944 and incorporate these economic rights of all persons as amendments to the US Constitution: "The right to a useful and remunerative job in the industries or shops or farms or mines of the nation; the right to earn enough to provide adequate food and clothing and recreation; the right of every farmer to raise and sell his products at a return which will give him and his family a decent living; the right of every businessman, large and small, to trade in an atmosphere of freedom from unfair competition and domination by monopolies at home or abroad; the right of every family to a decent home; the right to adequate medical care and the opportunity to achieve and enjoy good health; the right to adequate protection from the economic fears of old age, sickness, accident, and unemployment; the right to a good education."
 
Webster G. Tarpley
 
21 January 2008
Washington DC, USA

Article Reproduced From www.Rense.com
 
Pictures added by Gnostic Liberation Front

 

 

The Four Freedoms--Model of a monument, which is part of the Peace Memorial in Madison, Florida.(Also known as the Colin P. Kelley Memorial. Kelley was the first hero who fell in the Second World War.) This sculpture was inspired by an idea of President Franklin Delano Roosevelt, which he had expressed to Thomas Watson (IBM). It represents allegorically the four freedoms, which were the most important ones for Roosevelt: »Freedom from Want, Freedom of Religion, Freedom from Fear and Freedom of Speech«.

 

Franklin D. Roosevelt Presidential Library and Museum

Annual Message to Congress
January 6, 1941
The "Four Freedoms" Speech

Mr. President, Mr. Speaker, Members of the Seventy-seventh Congress:

I address you, the Members of the Seventy-seventh Congress, at a moment unprecedented in the history of the Union. I use the word "unprecedented," because at no previous time has American security been as seriously threatened from without as it is today.

Since the permanent formation of our Government under the Constitution, in 1789, most of the periods of crisis in our history have related to our domestic affairs. Fortunately, only one of these--the four-year War Between the States--ever threatened our national unity. Today, thank God, one hundred and thirty million Americans, in forty-eight States, have forgotten points of the compass in our national unity.

It is true that prior to 1914 the United States often had been disturbed by events in other Continents. We had even engaged in two wars with European nations and in a number of undeclared wars in the West Indies, in the Mediterranean and in the Pacific for the maintenance of American rights and for the principles of peaceful commerce. But in no case had a serious threat been raised against our national safety or our continued independence.

What I seek to convey is the historic truth that the United States as a nation has at all times maintained clear, definite opposition, to any attempt to lock us in behind an ancient Chinese wall while the procession of civilization went past. Today, thinking of our children and of their children, we oppose enforced isolation for ourselves or for any other part of the Americas.

That determination of ours, extending over all these years, was proved, for example, during the quarter century of wars following the French Revolution.

While the Napoleonic struggles did threaten interests of the United States because of the French foothold in the West Indies and in Louisiana, and while we engaged in the War of 1812 to vindicate our right to peaceful trade, it is nevertheless clear that neither France nor Great Britain, nor any other nation, was aiming at domination of the whole world.

In like fashion from 1815 to 1914-- ninety-nine years-- no single war in Europe or in Asia constituted a real threat against our future or against the future of any other American nation.

Except in the Maximilian interlude in Mexico, no foreign power sought to establish itself in this Hemisphere; and the strength of the British fleet in the Atlantic has been a friendly strength. It is still a friendly strength.

Even when the World War broke out in 1914, it seemed to contain only small threat of danger to our own American future. But, as time went on, the American people began to visualize what the downfall of democratic nations might mean to our own democracy.

We need not overemphasize imperfections in the Peace of Versailles. We need not harp on failure of the democracies to deal with problems of world reconstruction. We should remember that the Peace of 1919 was far less unjust than the kind of "pacification" which began even before Munich, and which is being carried on under the new order of tyranny that seeks to spread over every continent today. The American people have unalterably set their faces against that tyranny.

Every realist knows that the democratic way of life is at this moment being' directly assailed in every part of the world--assailed either by arms, or by secret spreading of poisonous propaganda by those who seek to destroy unity and promote discord in nations that are still at peace.

During sixteen long months this assault has blotted out the whole pattern of democratic life in an appalling number of independent nations, great and small. The assailants are still on the march, threatening other nations, great and small.

Therefore, as your President, performing my constitutional duty to "give to the Congress information of the state of the Union," I find it, unhappily, necessary to report that the future and the safety of our country and of our democracy are overwhelmingly involved in events far beyond our borders.

Armed defense of democratic existence is now being gallantly waged in four continents. If that defense fails, all the population and all the resources of Europe, Asia, Africa and Australasia will be dominated by the conquerors. Let us remember that the total of those populations and their resources in those four continents greatly exceeds the sum total of the population and the resources of the whole of the Western Hemisphere-many times over.

In times like these it is immature--and incidentally, untrue--for anybody to brag that an unprepared America, single-handed, and with one hand tied behind its back, can hold off the whole world.

No realistic American can expect from a dictator's peace international generosity, or return of true independence, or world disarmament, or freedom of expression, or freedom of religion -or even good business.

Such a peace would bring no security for us or for our neighbors. "Those, who would give up essential liberty to purchase a little temporary safety, deserve neither liberty nor safety."

As a nation, we may take pride in the fact that we are softhearted; but we cannot afford to be soft-headed.

We must always be wary of those who with sounding brass and a tinkling cymbal preach the "ism" of appeasement.

We must especially beware of that small group of selfish men who would clip the wings of the American eagle in order to feather their own nests.

I have recently pointed out how quickly the tempo of modern warfare could bring into our very midst the physical attack which we must eventually expect if the dictator nations win this war.

There is much loose talk of our immunity from immediate and direct invasion from across the seas. Obviously, as long as the British Navy retains its power, no such danger exists. Even if there were no British Navy, it is not probable that any enemy would be stupid enough to attack us by landing troops in the United States from across thousands of miles of ocean, until it had acquired strategic bases from which to operate.

But we learn much from the lessons of the past years in Europe-particularly the lesson of Norway, whose essential seaports were captured by treachery and surprise built up over a series of years.

The first phase of the invasion of this Hemisphere would not be the landing of regular troops. The necessary strategic points would be occupied by secret agents and their dupes- and great numbers of them are already here, and in Latin America.

As long as the aggressor nations maintain the offensive, they-not we--will choose the time and the place and the method of their attack.

That is why the future of all the American Republics is today in serious danger.

That is why this Annual Message to the Congress is unique in our history.

That is why every member of the Executive Branch of the Government and every member of the Congress faces great responsibility and great accountability.

The need of the moment is that our actions and our policy should be devoted primarily-almost exclusively--to meeting this foreign peril. For all our domestic problems are now a part of the great emergency.

Just as our national policy in internal affairs has been based upon a decent respect for the rights and the dignity of all our fellow men within our gates, so our national policy in foreign affairs has been based on a decent respect for the rights and dignity of all nations, large and small. And the justice of morality must and will win in the end.
Our national policy is this:

First, by an impressive expression of the public will and without regard to partisanship, we are committed to all-inclusive national defense.

Second, by an impressive expression of the public will and without regard to partisanship, we are committed to full support of all those resolute peoples, everywhere, who are resisting aggression and are thereby keeping war away from our Hemisphere. By this support, we express our determination that the democratic cause shall prevail; and we strengthen the defense and the security of our own nation.

Third, by an impressive expression of the public will and without regard to partisanship, we are committed to the proposition that principles of morality and considerations for our own security will never permit us to acquiesce in a peace dictated by aggressors and sponsored by appeasers. We know that enduring peace cannot be bought at the cost of other people's freedom.

In the recent national election there was no substantial difference between the two great parties in respect to that national policy. No issue was fought out on this line before the American electorate. Today it is abundantly evident that American citizens everywhere are demanding and supporting speedy and complete action in recognition of obvious danger.

Therefore, the immediate need is a swift and driving increase in our armament production.

Leaders of industry and labor have responded to our summons. Goals of speed have been set. In some cases these goals are being reached ahead of time; in some cases we are on schedule; in other cases there are slight but not serious delays; and in some cases--and I am sorry to say very important cases--we are all concerned by the slowness of the accomplishment of our plans.

The Army and Navy, however, have made substantial progress during the past year. Actual experience is improving and speeding up our methods of production with every passing day. And today's best is not good enough for tomorrow.

I am not satisfied with the progress thus far made. The men in charge of the program represent the best in training, in ability, and in patriotism. They are not satisfied with the progress thus far made. None of us will be satisfied until the job is done.

No matter whether the original goal was set too high or too low, our objective is quicker and better results. To give you two illustrations:

We are behind schedule in turning out finished airplanes; we are working day and night to solve the innumerable problems and to catch up.

We are ahead of schedule in building warships but we are working to get even further ahead of that schedule.

To change a whole nation from a basis of peacetime production of implements of peace to a basis of wartime production of implements of war is no small task. And the greatest difficulty comes at the beginning of the program, when new tools, new plant facilities, new assembly lines, and new ship ways must first be constructed before the actual materiel begins to flow steadily and speedily from them.

The Congress, of course, must rightly keep itself informed at all times of the progress of the program. However, there is certain information, as the Congress itself will readily recognize, which, in the interests of our own security and those of the nations that we are supporting, must of needs be kept in confidence.

New circumstances are constantly begetting new needs for our safety. I shall ask this Congress for greatly increased new appropriations and authorizations to carry on what we have begun.

I also ask this Congress for authority and for funds sufficient to manufacture additional munitions and war supplies of many kinds, to be turned over to those nations which are now in actual war with aggressor nations.

Our most useful and immediate role is to act as an arsenal for them as well as for ourselves. They do not need man power, but they do need billions of dollars worth of the weapons of defense.

The time is near when they will not be able to pay for them all in ready cash. We cannot, and we will not, tell them that they must surrender, merely because of present inability to pay for the weapons which we know they must have.

I do not recommend that we make them a loan of dollars with which to pay for these weapons--a loan to be repaid in dollars.

I recommend that we make it possible for those nations to continue to obtain war materials in the United States, fitting their orders into our own program. Nearly all their materiel would, if the time ever came, be useful for our own defense.

Taking counsel of expert military and naval authorities, considering what is best for our own security, we are free to decide how much should be kept here and how much should be sent abroad to our friends who by their determined and heroic resistance are giving us time in which to make ready our own defense.

For what we send abroad, we shall be repaid within a reasonable time following the close of hostilities, in similar materials, or, at our option, in other goods of many kinds, which they can produce and which we need.

Let us say to the democracies: "We Americans are vitally concerned in your defense of freedom. We are putting forth our energies, our resources and our organizing powers to give you the strength to regain and maintain a free world. We shall send you, in ever-increasing numbers, ships, planes, tanks, guns. This is our purpose and our pledge."

In fulfillment of this purpose we will not be intimidated by the threats of dictators that they will regard as a breach of international law or as an act of war our aid to the democracies which dare to resist their aggression. Such aid is not an act of war, even if a dictator should unilaterally proclaim it so to be.

When the dictators, if the dictators, are ready to make war upon us, they will not wait for an act of war on our part. They did not wait for Norway or Belgium or the Netherlands to commit an act of war.

Their only interest is in a new one-way international law, which lacks mutuality in its observance, and, therefore, becomes an instrument of oppression.

The happiness of future generations of Americans may well depend upon how effective and how immediate we can make our aid felt. No one can tell the exact character of the emergency situations that we may be called upon to meet. The Nation's hands must not be tied when the Nation's life is in danger.

We must all prepare to make the sacrifices that the emergency-almost as serious as war itself--demands. Whatever stands in the way of speed and efficiency in defense preparations must give way to the national need.

A free nation has the right to expect full cooperation from all groups. A free nation has the right to look to the leaders of business, of labor, and of agriculture to take the lead in stimulating effort, not among other groups but within their own groups.

The best way of dealing with the few slackers or trouble makers in our midst is, first, to shame them by patriotic example, and, if that fails, to use the sovereignty of Government to save Government.

As men do not live by bread alone, they do not fight by armaments alone. Those who man our defenses, and those behind them who build our defenses, must have the stamina and the courage which come from unshakable belief in the manner of life which they are defending. The mighty action that we are calling for cannot be based on a disregard of all things worth fighting for.

The Nation takes great satisfaction and much strength from the things which have been done to make its people conscious of their individual stake in the preservation of democratic life in America. Those things have toughened the fibre of our people, have renewed their faith and strengthened their devotion to the institutions we make ready to protect.

Certainly this is no time for any of us to stop thinking about the social and economic problems which are the root cause of the social revolution which is today a supreme factor in the world.

For there is nothing mysterious about the foundations of a healthy and strong democracy. The basic things expected by our people of their political and economic systems are simple. They are:

Equality of opportunity for youth and for others.
Jobs for those who can work.
Security for those who need it.
The ending of special privilege for the few.
The preservation of civil liberties for all.

The enjoyment of the fruits of scientific progress in a wider and constantly rising standard of living.

These are the simple, basic things that must never be lost sight of in the turmoil and unbelievable complexity of our modern world. The inner and abiding strength of our economic and political systems is dependent upon the degree to which they fulfill these expectations.

Many subjects connected with our social economy call for immediate improvement.
As examples:

We should bring more citizens under the coverage of old-age pensions and unemployment insurance.

We should widen the opportunities for adequate medical care.

We should plan a better system by which persons deserving or needing gainful employment may obtain it.

I have called for personal sacrifice. I am assured of the willingness of almost all Americans to respond to that call.

A part of the sacrifice means the payment of more money in taxes. In my Budget Message I shall recommend that a greater portion of this great defense program be paid for from taxation than we are paying today. No person should try, or be allowed, to get rich out of this program; and the principle of tax payments in accordance with ability to pay should be constantly before our eyes to guide our legislation.

If the Congress maintains these principles, the voters, putting patriotism ahead of pocketbooks, will give you their applause.

In the future days, which we seek to make secure, we look forward to a world founded upon four essential human freedoms.

The first is freedom of speech and expression--everywhere in the world.

The second is freedom of every person to worship God in his own way--everywhere in the world.

The third is freedom from want--which, translated into world terms, means economic understandings which will secure to every nation a healthy peacetime life for its inhabitants-everywhere in the world.

The fourth is freedom from fear--which, translated into world terms, means a world-wide reduction of armaments to such a point and in such a thorough fashion that no nation will be in a position to commit an act of physical aggression against any neighbor--anywhere in the world.

That is no vision of a distant millennium. It is a definite basis for a kind of world attainable in our own time and generation. That kind of world is the very antithesis of the so-called new order of tyranny which the dictators seek to create with the crash of a bomb.

To that new order we oppose the greater conception--the moral order. A good society is able to face schemes of world domination and foreign revolutions alike without fear.

Since the beginning of our American history, we have been engaged in change -- in a perpetual peaceful revolution -- a revolution which goes on steadily, quietly adjusting itself to changing conditions--without the concentration camp or the quick-lime in the ditch. The world order which we seek is the cooperation of free countries, working together in a friendly, civilized society.

This nation has placed its destiny in the hands and heads and hearts of its millions of free men and women; and its faith in freedom under the guidance of God. Freedom means the supremacy of human rights everywhere. Our support goes to those who struggle to gain those rights or keep them. Our strength is our unity of purpose. To that high concept there can be no end save victory.

 

The Bankers 9/11
10-8-8
The US - now world - financial crisis
has given nations a golden opportunity,
 but will they seize it,
asks Eric Walberg

Henry Wallace Would Never
Have Dropped the Bomb on Japan

by Robert L. Baker

ON THE NON-NOMINATION OF 1944
The Geometry of the
Henry Wallace Nomination

by Lyndon H. LaRouche, Jr.
October 18, 2003

FDR's `New Deal':
An Example of
American System Economics

by Hartmut Cramer

The Fleecing Of America
By Stephen Lendman
10-6-8
.....
This article follows from an earlier one
titled Grand Theft America. On the crime of the century.
The greatest one ever. Unbridled excess gone awry.
An economic system built on a foundation of greed
and fraud. Threatening the country with insolvency and ruin.
World economies with it. Plundering the national treasury
to save it. Bailing out criminal bankers.
Rewarding fraudsters with public funds.
Making the world safe again for capital (or trying to)
and heading it for an even greater calamity ahead.
Maybe next time (or this one) one
no financial engineering can fix....

Grand Theft America
By Stephen Lendman
9-29-8
.....The result of unfettered capitalism's fatal flaw
 - unbridled greed in a rigged system that rewards
the few at the expense of most others.
First an explanation of how it works.
Free-wheeling, "free market" Chicago School
fundamentalism the way economist Milton Friedman
championed it in his 1962 book
"Capitalism and Freedom" and taught it
to students for decades....

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
 


 


 

 

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