Race08 Much more than just Obama-McCain
Hope vs Blame from 1776

Race08 is not just the issues of the presidential campaign of 2008. Also the unspoken issues of race built into essence of America through a powerful, though effectively secret final accusation in the Declaration of Independence. By his birth chart Barack Obama embodies the Declaration of Independence as Thomas Jefferson wrote it, not as the Continental Congress eventually edited it.

The financial meltdown of 2008 arose as the final criminal, incompetent, disaster of the King George the Younger Bush administration. It was not just an unfortunate event, it was the final collapse of the economy built by the Successor Kings of Alexander the Great. An economy of cash markets to trade resources seized in expanding conquests by underpaid workers.

Mortgages held by blacks and other minorities are being blamed for the bubble, although the vast majority of defaulting mortgages were given to others who went into default when their very first payment was due. When Congress demanded good mortgages be available for minority neighborhoods, the bankers thought they had to made bad mortgage loans. So they worked out how to make big profits selling really bad loans.

In minority neighborhoods that meant tricking folks into taking mortgages they couldn't pay and thus stealing a generation of hard earned real estate equity. In the global market this meant fraudulently selling worthless mortgage securities as good-as-gold U.S. AAA investments. On Wall St. it was the meeting of greed and racism for fantasy profits not dreamed of since VA planters were conned into buying slaves to maximize their tobacco profits.

Didn't work for VA planters since all workers consume their cost of living one way or another, especially slaves who have to be kept alive at their owners' expense to work at all. The whole notion was a fraud of the 18th century global market. The slaves were rejected from sugar plantations where the price of sugar no longer justified their cost of living. The were only sold to the American colonies for a quick, fraudulent cash profit, trading slaves bought very cheap for tobacco worth its weight in cash silver.

Free market profits do best when their is an element of fraudulent marketing boosting the demand or a limited supply under external control. Free markets are run by external factors that aren't free or even disclosed. Thomas Jefferson experienced that as a slave owning VA planter, and expressed his feelings in his final draft of the Declaration of Independence.

He knew well the slave trade was criminal, based upon kidnapping and abusing humans entitled to the same inalienable rights to freedom and equality. He blamed King George III for the global economy that maintained the slave trade. He ignored the culpability of himself and the other slave owners who maintained the system.

They couldn't see that slave labor isn't profitable since the cost of living remains and the productivity is terrible. They knew the land was fertile and tobacco highly priced in the market, so they just kept trying to make it profitable and at best blaming the global market for supplying slaves that prevented working out better solutions.

With slaves, labor itself becomes undignified and without the dignity of labor and the hope to improve through hard work the whole premise of Protestant religion fails. That is why the Southern slave holding colonies moved toward the more faith-based Baptist religion and away from the Puritan work ethic.

At the time of the writing of the Declaration of Independence in 1776, the insurgency in America against the folly of British demands to bring the colonies to submission as profit sources for the Crown was already launched. As standard Imperial policy, the British who first sold slaves to the colonists in such numbers as to make them a considerable ethnic minority then offered freedom to any slave who took up arms against their masters in support of Britain.

Slave owners like Jefferson knew they were doing wrong holding Africans as slaves. They knew they were not as successful as other Americans without slavery even though their tobacco crop far more valuable than any other. They knew having bought so many slaves they now were in danger from their slaves coming to the same conclusion about them as they came to about the Crown.

Race and the issue of slavery formed the ultimate and most devastating accusation Thomas Jefferson wrote into his draft of the Declaration of Independence. John Adams called it the “vehement philippic against negro slavery.” It neatly balanced the opening declaration that all men were created equal with criminal accusation of kidnapping free Africans and maintaining the slave markets in the colonies.

Of course it was considered inappropriate for a slave owner like Jefferson and many of the delegates to blame King George for their using slave labor. The entire section was removed from the final version, eventually embossed and signed in late August 1776(a few even signed later).

Race or slavery had no part in the official act of the Continental Congress on July 2, 1776 when they voted the colonies to be now free and independent states. The birth of a nation by the traditional rules of almanac makers is when it completes its firs official act. John Adams, a lawyer, expected this vote of July 2nd to be forever after celebrated with speeches and fireworks.

However, all the actions of the Continental Congress were conducted in secret. The effective founding of the new nation, the United States (no longer colonies) of America required an act that would transcend that secrecy. A national declaration that it was Nation and no longer several colonies is such an act.

But a declaration of national existence and principles is completed as the first printed copy of that Declaration of Independence rolls off the printer’s press. This high tech innovation of the Renaissance was not recognized as such a powerful device at the time.

It was only the race08 where the election campaign of 2008 and the race of the candidate Barack Obama and his birth which connected his horoscope to that of the first printed copy of Thomas Jefferson's personal draft of the Declaration of Independence that proves this all and brings the issue of race in America to a head.

The debate over the formal content of the Declaration of Independence was scheduled for July 4, 1776 by the entire Continental Congress. In order to allow each delegate to have their own copy of text, Jefferson was asked to take his final draft to their printer and print up copies for each member of Congress.

The only entry in the Congressional Journal for the day July 4th 1776 is one of these printed copies pasted into its pages. In his classic book, The Declaration of Independence By Carl Becker, the author notes these facts but no significance to the printing.

Jefferson was an almanac maker among his many talents and was able to set his stamp upon the new nation by making sure the moon was elevated at the zenith as the first copy of his final draft came off the press. It could have been an accident, or simply a realization that light was better. It could have been a deliberate realization that his printing would supersede the actions of all the other delegates in their deliberations later that morning.

Jefferson by his actions made his final draft the true founding document of the United States. The Continental Congress by deleting his accusation against King George III made race the secret underlying issue of American Democracy. This paragraph appears only in the most exact of historical records but it is now the fundamental tenet of the presidential election of 2008--the grand union and ultimate play on words: race08:

The secret founding flaw of the American Democracy is found in these words by Thomas Jefferson as the ultimate accusation against King George III and thus the ultimate reason for the founding of this new nations:

He has waged cruel war against human nature itself, violating it’s most sacred rights of life and liberty in the persons of a distant people who never offended him, captivating and carrying them into slavery in another hemisphere or to incur miserable death in their transportation thither. This piratical warfare, the opprobrium of infidel powers, is the warfare of the Christian king of Great Britain determined to keep open a market where men should be bought & sold. He has prostituted his negative for suppressing every legislative attempt to prohibit or restrict this execrable commerce and that this assemblage of horrors might want no fact of distinguished die, he is now exciting those very people to rise in arms among us and to purchase that liberty of which he has deprived them, by murdering the people upon whom he has also obtruded them; thus paying off former crimes committed against the liberties of one people, with crimes he urges them to commit against the lives of another.

Here the equality of all Americans including African and African-American slaves who are incited to violence against their masters is clearly set forth with slavery deemed another crime of British global free trade profiteering which the American colonists are now rising up as insurgents against. Up through the French and Indian Wars American colonists had been loyal subjects who fought for their King. It was only when British policy for the colonies changed that the colonists turned against their King.

In the years since (1763) the end of the Seven Years War or French and Indian War which left Great Britain the only Superpower of its day, colonial constraints turned the loyal American colonists into insurgents and even terrorists against the Crown. They felt King George III was making slaves of them. Objectively, he was just seeking to impose his power over his subjects and get them to pay for the army he sent to protect them and enforce British colonial law.

Colonists in America felt they were being treated as 'slaves' whose only purpose was to supply revenue to the Crown. They rose up as insurgents against the Crown while they sought to keep their own African slaves for their profit.

The importance of the 1776 publication date of Adam Smith’s Wealth of Nations is that it expresses another view of British Imperial economic policy. Adam Smith mentions slavery, but only notes it isn’t very productive.

The detail that a British free trade, free market capitalism requires global maritime power enforcing colonial occupation, and slave trade profits to work out as expected isn't mentioned. The outline of his theory he took from Dr. Quesnay and the Economists of France. He didn't pick up that the economy must first pay the cost of living for its workers before it can reap the profits from their production.

The issue of race is a subtext in the race08 presidential campaign with Barack Obama as the nominee of the Democratic Party, the son of a father who was Kenyan and an American mother with no personal connection to either slave owners or those who suffered slavery in the American South.

The Republican nominee, John McCain, a proud descendant of Confederate soldiers in the Civil War born outside the U.S. in the Panama Canal Zone. In race08 there was no question of McCain's Constitutional legitimacy, the Canal Zone being a U.S. Possession and thus equivalent to being U.S. native soil.

The questions about Barack Obama's Constitutional legitimacy only increased when his certified birth certificate from the State of Hawaii was put online. The issues of race08 do not recognize blacks, or the Kingdom of Hawaii or the Internet as legitimate.

This remains a contest for true equality of all and particularly an end to the economic restrictions and social prejudice of race in America. This race08 did not end with the election in November 2009, it just moved to the White House. Race08 is the campaign to end all racism and break the restrictions that have been a cornerstone of free market, free trade capitalism as established in America by King George III.

Free trade only makes sense in a global empire where slave labor cost savings can be easily turned into home market excess profits. American slavery differs from prior forms of slavery being solely based upon race not. At the time of the Civil War 75% of the Confederate population owned no slaves. A large majority of those who did own slaves owned only a few and worked in the fields along side them.

The point of Confederate slavery was not economic but cultural. The studies of the economics of slavery are unable to show conclusively if this economic system was profitable. It paid no cash wages, but it was a paternalistic system that paid for the food, clothing, health care of the slaves whether their owners were able to find productive labor for them to do or not.

In America with its fundamental principle of equality, having a subject people of another race who are legally less than equal became a toxic problem for the Southerners. They reacted with a mixture of defensive pride and local chauvinism. Every Southerner felt a special higher status because they were not slaves.

It is this expected surplus value that underlies white racism in America that became the unvoiced core issue of race08. If African Americans are just citizens and folks, then what makes white Americans special anymore?

The credit crisis and financial meltdown became a partisan issue tinged with "affirmative action" in race08. Democrats claimed the problems arose from the unbridled excess of Republican free market, unregulated capitalism which caused the bubble of toxic mortgage-backed securities.

John McCain and free market Republicans traced the problems to Clinton era legislation making it a crime to discriminate against minorities or minority neighborhoods in issuance of mortgages especially the highest quality and lowest price Fannie Mae/ Freddie Mac loans.

The reality lies in the middle. It was customary to only offer the best and most economical to lily white borrowers in lily white neighborhoods. Minorities were required to pay higher rates for worse terms ultimately as an extra profit to those willing to deal with them and their communities.

When such redlining and restriction of private loans was outlawed, the feelings of the lenders were not changed. Their first feeling was that they were being cheated out of their rightful surplus profits from those who they still saw as designated extra-profitable by their skin color.

They sought to produce mortgage-back securities, bundling their required minority homeowner loans with other loans to hide them. And thus still sell the mortgage securities as good investments. The rating agencies agreed to give their highest AAA rating to anything that was accompanied with a large cash fee to them.

Investors tend not to trust Wall St securities, still traumatized by the Crash of ’29 and other instances when securities turned out to just be fancy paper certificates without hard value. Real estate is considered hard value since it is land and buildings. Unfortunately, they did not know that the property is not the actual things, but only the legal documents controlling ownership of those things.

The reality behind the saying that the three vital factors in real estate value are Location, Location,and Location, is that the value of a property is solely a matter of market price. The identity house moved to another location may command a totally different value. There is no hard value in real estate, only a current market value.

Though real property is an actual object of intrinsic utility, its value is just what folks have been willing to pay for similar (though not identical) properties recently. The house and the land are real, their value is totally imaginary and subjective.

Mortgage-backed securities with complex mathematical processing to extract only the best and most reliable payments from a mixed bag of questionable loans became all the rage globally—U.S. real estate property loans rated AAA and processed into a convenient and unknowable security became the favorite safe investment everywhere.

They were inherently fraudulent and ridiculous. Objectively admitting the underlying loans had big problems but claiming the magic of advanced mathematics would cure those problems. Then a second fraud was launched to sell credit default swaps, which were called that to evade regulations upon insurance sold to cover possible investment losses. The two frauds worked together to inflate a huge bubble everyone in the know knew would burst someday, but just took that as cause to sell more now and pocket their profits early.

These were big commission opportunities to leverage big appreciation and runaway expansion of the American real estate bubble. They started out from a race based intent to deceive and grew into a general scam of hiding all fraud and scam and deception inside these mysterious new securities.

Now the bubble has burst but no one wants to really investigate or bring to justice those responsible. It is an American tradition. There were several hundred well documented fraud cases in the S & L scandal of the early '80's. None of them were prosecuted. Instead the mess was cleaned up with taxpayer money.

Ultimately the bubble grew as a means to avoid admitting that the general economy was not doing well. How do you hide the devastation of manufacturing jobs and American communities of the global outsourcing? You promote the new financial instruments and their huge values. Mortgage backed securities were the only major growth industries.

The folks losing their jobs weren’t going to be able to pay the bubble housing prices, but as long as they were packaged as securities and selling like hotcakes the financial sector roaring profits would keep the overall GDP growing at over 3% each and every quarter.

The 8 years of the Bush43 regime were the ultimate debacle of the entire traditional economy based upon credit generated out of thin air or paper with numbers and words on it that were sold in the market as better than gold bullion. A new basis for credit will have to be found after race08.

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