The Reagan Reverie (a.k.a. “Revolution?”) continues: Republican (fascist/socialist) President Reagan—ostensibly an advocate of the free-market—signs the Agricultural Credit Act, providing 4,000,000,000 “dollars” in Federal subsidized loans to the nation’s agricultural sector. The ACA also creates the Federal Agriculture Mortgage Corporation (a.k.a. “Farmer Mac”) a government sponsored enterprise modeled along the lines of Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation (a.k.a. “Fannie Mae and Freddie Mac”), to provide a secondary market for agricultural and rural mortgages; the Farm Credit System Insurance Corporation, to insure investors in the Farm Credit System against losses; and the Farm Credit System Financial Assistance Corporation to provide greater liquidity to the nation’s already debt saturated agricultural markets.
[added 1/18/2023]
Subsequent Events:
Authority:
“Law of the Jungle”
ccc-2point0.com/preface
References:
Agricultural Credit Act of 1987, 101 Public Statutes at Large 1568 (1988).
http://minerals,usgs.gov/minerals/pubs/commodity/gold/300798,pdf
minerals,usgs.gov/minerals/pubs/commodity/gold/300798,pdf
History of FCA and the FCS
www.fca,gov/about/history/historyFCA_FCS.html
The Six Trillion Dollar Debt Iceberg; A Review of the Government’s Risk Exposure
www.heritage.org/research/economy/bg774,cfm
Chronology of Significant Events
www.dof,ca,gov/HTML/FS_DATA/LatestEconData/Chronology/chronology.htm
Current U.s. National Debt:
