The (Not-So-Great) Bailout of 2008
Gather round children,
as I tell the tale,
Of how all the banks
started to fail.
About how the government
bailed out the rich,
Rather than the poor,
which would have been a switch.
People were greedy,
for something called cash,
Brokers on Wall Street had plenty,
so what they did seems rash.
And so they started
robbing regular people blind.
That's how America (and the World)
got into a bind.
The banks began approving loans for homes,
to anyone who might need.
The value would go up,
and you could re-mortgage indeed.
People started spending
what they never had.
The way money was their religion
was awfully sad.
People would spend thousands of dollars,
On luxury items and diamond rings,
While poor children went without
food, braces and things.
The world was on a bubble
about to break.
Still banks pushed loans and investments
with ratings that were fake.
The economy crashed
like a run away train.
Regular people watched as their savings
and retirement went down the drain.
The president and congress
fearing another crash,
put together
a bailout plan fast.
They reasoned, if we don't fix the economy
the whole ship will sink.
'You don't understand, ' they claimed
the world is on the brink.
And so the government taught future generations,
handing (the rich) a bone,
That's it's okay to spend
more than you own.
poem by Joseph DeMarco
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Related quotes
My Question to Alan Greenspan and Ben Bernanke
When banks went bankrupt, to bail them out
The government gave them a cushy handout
When the rest of economy went to recession
The government tried to make a good impression
It printed trillions of fiat money
To rescue all friends of the Easter Bunny
To provide the necessary wherewithal
To spend its way out of the hole
The politicians were not aware
While they built the bridges that lead to nowhere
That money is also a finite resource
They had good intentions: for better or for worse
Inflation and taxes beyond any doubt
Caused my retirement fund wipe out
My finances were trapped, I couldn’t get any cash
When stocks and bonds have turned into trash
I was paying my mortgage & credit card debt
I spent money wisely, my expenses were capped
With banks in default, the dollar’s inflating
I still retain 5-star credit rating
Hey, Mr.Bernanke and Mr.Greenspan
Something is wrong with your genius plan
Would you, please, tell me, whose fault is that -
People are suffering and banksters are fat?
***
August 23,2009
poem by Slava Olchevski
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Life in Paradise: 21st Century Style
2000-2001
The “dot com” bubble bursts
Recession
9/11/2001
America attacked!
Our way of life is threatened
Fear sets in
Financial institutions vulnerable!
Economy in a nose dive
What to do?
Everybody fly the flag from your home.
Save housing - Save the economy!
First, everybody needs a home.
The madness begins.
2002-2003
Create laws to increase minority homeownership
California gives birth to the ARMs* and NINJA** loans
Accounting irregularities at Fannie Mae (FNMA) & Freddie Mac (FDMAC) ***
Doors open for Wall Street to invest in Main Street
Without those pesky government regulations
Homeownership increases
...“After all ever since the Great Depression, home values have ALWAYS gone up
And everybody pays their mortgage ”…
WARNING! WARNING! DANGER! DANGER!
AREN”T HOME PRICES INCREASING FASTER THAN INCOME?
…...“No problem; it only takes a little creative mortgage financing and Wall St loves those high yielding mortgages…..
HIGHER RISK - HIGHER YIELD!
Pension funds love high yield.
Buy more and more....
…...“After all ever since the Great Depression, home values have ALWAYS gone up
And everybody pays their mortgage ”…..
WARNING! WARNING! DANGER! DANGER!
AREN”T PENSION FUNDS ONLY ALLOWED TO BUY AAA RATED INVESTMENTS?
...“Problem solved...banks pay the salaries at the Rating Agencies and Ratings Agencies in turn lower the standards to obtain a AAA rating”...
WARNING! WARNING! DANGER! DANGER!
WHO’S WATCHING THE “HEN HOUSE” WHO’S MINDING THE STORE?
...“Who cares?
Everyone is happy
Millions of new jobs created
Millions of new homeowners
Millions of dollars for bankers
Millions of dollars for Wall St
And everyone owns a home on Main St
Money is flowing
Everyone wins! ”…
WARNING! WARNING! DANGER! DANGER!
AREN”T HOMES BECOMING LESS AFFORDABLE?
2004 -2005
...“Pressure Government to create more creative loans and even lower down payments with even higher yields and make more bucks”…
A new mortgage is born, Euphemism: THE PAY OPTION NEGATIVE AM ARM Loan
...Easy to sell… You chose your own payment! You chose your interest rate! ...
WILL WALL ST BUY THESE LOANS?
….“You bet! Wall St loves these high yield mortgages. They package these loans as CDOs***** and sell them to Pension Funds, Municipalities, Foreign Governments etc
Spread the risk - Harvest the yield! …
Now Fannie Mae & Freddie Mac want back in on the action
...“After all ever since the Great Depression, home values have ALWAYS gone up
And everybody pays their mortgage ”
Everyone wins! …
The country is now infected with AFLUENZA
...“We need even more mortgages. Pressure Government to lower credit qualifications, raise borrowing limits, allow less equity positions. Let homeowners use their homes as ATMs+++”...
WARNING! WARNING! DANGER! DANGER!
WHERE IS THE SEC? WHERE IS THE FED? *****
...“Banks will police themselves” says the SEC
“Homeownership is up.
The Standard of Living is up
It is good” says the Fed...
...“After all ever since the Great Depression, home values have ALWAYS gone up
And everybody pays their mortgage ”...
CAN THIS LAST? WON”T HOMES PRICES HAVE TO COME DOWN OR INCOMES GO UP? .
2006 – 2007
Prices too high.
Average home unaffordable
Fewer home buyers.
Prices sinking
ARM’s resetting
Sub prime borrowers defaulting
Ninja loans failing.
Banks taking in less
Fewer dollars to lend
Layoffs beginning
Homes over-mortgaged
Appraising for much less
Equity gone
No equity - No sale
The downward spiral begins
Existing incomes static
Mortgage payments climbing
Homes losing value
Appraising lower
Jobs being lost
Unemployment rising
Banks failing
Wall St collapsing
Investment yields disappearing.
No way out!
2008 –2009
Elect a new administration with a RESCUE PLAN!
….“Spend more money Acquire more debt”….
WARNING! WARNING! DANGER! DANGER!
*ARM: Adjustable Rate Mortgage,
** NINJA loan: No Income, No Job or Assets
*** FNMA & FDMAC: Federal National Mortgage Corporation & Federal Home Loan Mortgage Corporation
**** CDO Collateral Debt Obligations
****** SEC: Securities & Exchange Commission & Federal Reserve System
+++ATM: Automated Teller Machine
poem by Nancy Chambers
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Tax Breaks for the Rich
Jobs have been shipped overseas! Who do you think has shipped them overseas? The worker, the poor, the middleclass? No! The super rich that want to maximize their profits with cheap labor and low environmental standards. They then with lobby dollars and shills in government keep these products manufactured outside the USA coming into the USA with low tariffs in stores like Wallmart etc which undermine more USA manufacturing jobs. These are the rich that this new bill would give tax breaks too. These affluent fat cats get a tax break that not only doesn't invest in the USA economy but rob it! These ultra rich want the USA to borrow money from China while millions are laid off by a false trickle down economic policy that has utterly failed. They want their tax breaks going on our childrens childrens back and tell us they only want to spend money they pay for! LIARS! The congress in the hands of big money needs statesmen that fight for the middle class. Keep yourself informed and realize what these politicians do affect all of us and the world. See through the phony TAX BREAKS for the rich while extending unemployment benefits for the down trodden and giving more tax incentives to the middle class that truly spends its money to survive on a daily basis and stimulate the economy in a real way. Working people are not the ones moving the companies. Joe - resist these evil men and policies
poem by Joseph Narusiewicz
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And I think the more money you put in people's hands, the more they will spend And if they don't spend it, they invest it. And investing it is another way of creating jobs. It puts money into mutual funds or other kinds of banks that can go out and make loans, and we need to do that.
quote by Michael Bloomberg
Submitted by Lucian Velea
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Interest Rate
Interest rate should be fixed
In such a manner and style
So that both the commercial banks
And their clients are benefited
But unfortunately many people
Incur loss as a result of
High interest rate
The central bank should encourage
The commercial banks
To go for investment
In the lucrative sectors
In order to create more fund
And to enable them to give more loans
And lower interest rate
For the entrepreneurs
If the commercial banks
Lower interest rate
For the depositors
The latter will not be discouraged much
Since people deposit money mainly
To keep it in a safe place
If the commercial banks
Lower interest rate
For the entrepreneurs
Many more people will take loan
As a result
Both the parties will be benefited
According to Islam
If there is more good elements
Than bad effects
Exist in a thing
It becomes halal
Therefore if most of the people are benefited
By taking loans it becomes okay
poem by Asif Andalib
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Forced Austerity
Gone the days of "Great prosperity"
"Middle Class" has "Gone to seed"
Feds' impose "Forced austerity"
After failing economy atrophied
Poor n' homeless hit the street
Becoming denizens of the night
Burgling cars n' homes to eat
Wrath n' fury of police incite
President n' Congress
Are both deaf n' blind
Criminals!
Ah…but I digress,
Don't wanna be unkind
Future now controlled by "World Banks"
Who care not for what they burn n' crash
They just roll our more troops n' tanks
Create more debt n' steal our cash
Seems to be but one solution;
A peaceful-global revolution
ROTMS
View ROTMS poems, images and video at;
rotms.blogspot.com
poem by Ray Lucero
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Justice, My
a poor woman lied
on her application for
food stamps about prior
drug convictions,
which was wrong...
but she did it to
feed her two children...
and she has paid the money back!
she got federal jail time.
big banks lied, cheated,
and basically stole on
applications for loans,
made a big profit,
showed a big loss,
and got bailout money...
justice, my ass!
poem by Eric Cockrell
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Tax
Tax is for the welfare of the masses
That’s why more tax should levied
Upon the rich than the poor
In such a manner
So that a desired balance is maintained.
There should be no filthy rich
In a poor country
So the government should impose tax
On this people couple of times more
Than the ordinary rich.
Education tax, poverty elimination tax
And tax to rehabilitate the beggars
Can be imposed on the very rich.
The government must go for moderate tax
For the poor people
And they should not slaughter the hen
That lays egg of gold.
The Muslims should give tax properly
Since it is obligatory for them
So in a Muslim country
The government should highlight this
In order to increase revenue.
poem by Asif Andalib
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The Money
Can money kiss you?
Can it give you a hug?
Will money save you from death?
Often people kiss their money
As if money were a person
but does money kiss you back?
Does money make the world go round?
Perhaps money can bring you down
When you spend it all, it’s just gone
leaving you with... possessions?
It’s true; money can buy you things
but it shouldn’t be the main motivation
or reason to live
It’s the root of all evil
Too much love causes greed
Some people have way too much
While others are in real need
Why are people starving?
The rich dictate the poor
Nothing less and nothing more
Everyday prices just rise
Every night we have to pay more to be alive
Dollar signs and question marks
are what I contemplate
Than money breaks up people
and causes them to hate
Never really seeming to be able to relate
What is real and what is fake?
Money isn’t something death will let you take
So why are riches passing by us daily?
On a path to no where, the money is failing
9-16-07
poem by Jesse Tampa
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Crisis In Our Economy
CRISIS IN OUR ECONOMY
Melvin Banggollay
C-risis in our economy
bellowing like the sea
put many in jeopardy
even government entity.
R-ise of oil prices everyday
put the world's economy
in the brink of ambiguity
putting many in poverty.
I-nvestment cost is heavy
as few can afford today
to create their own entity
for economic prosperity.
S-top curruption in any way
like stealing people's money
through ghost project today
by politicians of no dignity.
I-nstitute in our laws and policy
Currupting government money
is punishable by death penalty
even just by a single penny.
S-haring of wealth for the needy
be a motto of those somebody
like the rich and powerful family
can save many to die in poverty.
poem by Melvin Banggollay
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Big People
Big People
Love To Step
On Small People
These People
Believe They Are
Rich People.
A Non-Understanding
God Un-Loving
Hate Against American
Government People.
They Will Stand
On Lie's
And Defeating Us.
They Don't Care
As Long As They
Can Spend
Tax Paying Money
On Things That
Hate Us.
And We Continue
To Take It.
poem by Tommy Laster
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Civilization is a stream with banks. The stream is sometimes filled with blood from people killing, stealing, shouting and doing the things historians usually record, while on the banks, unnoticed, people build homes, make love, raise children, sing song.
quote by Will Durant
Submitted by Lucian Velea
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Who Do These People Think They Are
Who do these people think they are they take far more than they give?
They rule the World through their Bureaucracies and they tell us how to live
The tycoons of the twenty first century their financial nest egg grow and grow
In a World where millions live in poverty of poverty they do not wish to know.
They believe in free markets and their pet subject free trade
And in their dealings with Third World Countries millions in money they have made
But they do not believe in the free movement of people or in homes for refugees
When confronted with these subjects they do seem ill at ease.
They control big Government and tell them what to do
And that money speaks all languages so happens to be true
And whilst they grow rich and richer and more financially secure
The have nots of the World so sad to say grow poor.
Who do these people think they are for to satisfy their greed
They take and take and too few of them think of those who are in need
And most of the World's assets with the very wealthy few
And the poor keep getting poorer only happens to be true.
poem by Francis Duggan
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They Let 'em Fail
Iceland refused to take a loan
From Banksters at the IMF
Instead let banks fail,
Kept the debt...
And sent the loan sharks home
ROTMS
Source: Bloomberg
Iceland’s President Olafur R. Grimsson said his country is better off than Ireland thanks to the government’s decision to allow the banks to fail two years ago and because the krona could be devalued.
“The difference is that in Iceland we allowed the banks to fail, ” Grimsson said in an interview with Bloomberg Television’s Mark Barton today. “These were private banks and we didn’t pump money into them in order to keep them going; the state did not shoulder the responsibility of the failed private banks.”
Ireland’s Prime Minister Brian Cowen said this week his government has discussed an 85 billion-euro ($112 billion) bailout with the European Union and International Monetary Fund after the country’s banks threatened to bring the euro member to the brink of bankruptcy. Iceland’s banks, which still owe creditors about $85 billion, were split to create domestic units needed to keep the financial system running, while foreign liabilities remained within the failed lenders.
As a consequence, “Iceland is faring much better than anybody expected, ” Grimsson said. The Icelandic state’s liability on foreign depositor claims stemming from Icesave accounts at failed Landsbanki Islands hf should be put to a national referendum, he said.
“How far can we ask ordinary people - farmers and fishermen and teachers and doctors and nurses - to shoulder the responsibility of failed private banks, ” said Grimsson. “That question, which has been at the core of the Icesave issue, will now be the burning issue in many European countries.”
poem by Ray Lucero
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Applause
People will grow
More with applause
Than with rich food.
People will die
More for applause
Than for rich food.
People will die
More from applause
Than from rich food.
People forgo,
To get applause,
Their food in time.
People will spend
More for applause
Than for rich food.
Applause will do
What alcohol
Will, to people.
Applause denied,
Or food denied,
The body will wilt.
Applause is earned
To gather people
And select mates.
Applause feeds ego
And food keeps body.
Body is for ego.
18.10.2008
poem by Rm. Shanmugam Chettiar
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In Every Way!
how many people are blind?
how many people are deaf?
how many by choice?
perhaps you still have jobs,
homes, food to eat, medical care.
perhaps you have investments,
a way to retire....
perhaps your family is happy,
and well taken care of...
i hope so for you!
millions of people hurting,
millions in need...
millions of children hungry,
millions who cant get an education.
millions enslaved by poverty,
millions left alone....
people with faces and names.
all of these are normal people.
whatever their language, their religion,
their sexual orientation.
all of these are people just like you.
and many of these have families,
just like you!
is it their fault they're victims?
perhaps they've worked their whole lives.
male, female, young, old.....
all people,
with mothers and fathers....
all people....
and no, America is not free.
the news we watch is tainted.
the truth is hidden from us.
killing people around the world
does not make us free....
books are being banned and burned,
prejudice and discrimination are rampant.
we have forgotten we are responsible for each other,
we have forgotten we are all immigrants here.
there are no illegal people,
all people are just people.
freedom demands equality,
in every way!
poem by Eric Cockrell
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Sub Prime Crisis
I asked to the God:
Why America is on a verge of bankruptcy?
Why all are facing a drought of currency?
Do you think anyone should bank on banks?
Which have sunk a people of all class and ranks.
What quake produced a tsunami of sub prime crisis?
Can you explain it to the men, rich in vices?
Which is a better pill, communism or capitalism?
Can you illumine it with a dose of pragmatism.
God replied:
Son! There is nothing in this world like crises;
These are hidden opportunities in disguises.
One prime lesson still you haven't succeed to learn,
One should never spend more than one earn.
In jungle of finance, if you are led by economists,
Your fortune will be devoured by a debt’s beast.
If you mortgage future joys for a moment's passions,
Holy odyssey will fail to reach a divine station.
I replied:
In future, I will never take any kind of loans,
So I don’t have to groan in a sea of moans.
Thank you for your advice, oh! Heavenly bard,
Right away I am tearing down damn credit cards.
Now I will share this poem with all my friends,
So they don’t face the crisis till their life ends.
Consider as a merit, an act of forwarding this email,
So like economist, I won’t be tormented in your jail.
Dr Hitesh C Sheth
poem by Hitesh Sheth
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People SOS!
People! Become thoughtful!
You must be deep in thoughts.
This world? This world without truth,
People look but dont't look through.
People, people, people SOS!
You're destroyers of this world.
People, people I'm Boss
And I command: stop it all!
People, peoople! Trees do fall
Oxygen disappears from air.
This world without soul
Let's start new life since New Year!
People! It's time for changes
Countdown started, Yeah!
People! Make your choice,
See you in New Year!
What's In It For Me?
THE WORLD WHERE PEOPLE HAVE TIME FOR TWITTER AND FACEBOOK, BUT NONE FOR THEMSELVES OR OTHERS,
EVEN IF I WIN THIS WORLD WHAT'S IN IT FOR ME?
THE WORLD WHERE PEOPLE HAVE A HUNDRED 'FRIENDS' ON FACEBOOK,
BUT NOT EVEN TEN IN REAL LIFE
EVEN IF I WIN THIS WORLD WHAT'S IN IT FOR ME?
THE WORLD WHERE PEOPLE EMOTE WITH EMOTICONS BUT NOT WITH THEIR FACES,
EVEN IF I WIN THIS WORLD WHAT'S IN IT FOR ME?
THE WORLD WHERE PEOPLE PREFER TO WRITE 'LOL' RATHER THAN ACTUALLY LAUGHING OUT LOUD,
EVEN IF I WIN THIS WORLD WHAT'S IN IT FOR ME?
THE WORLD WHERE PEOPLE LOVE THEIR COMPUTER MORE THAN THEIR FRIENDS,
EVEN IF I WIN THIS WORLD WHAT'S IN IT FOR ME?
THE WORLD WHERE PEOPLE LIVE THEIR LIVES MORE ONLINE THAN OFF IT,
EVEN IF I WIN THIS WORLD WHAT'S IN IT FOR ME?
THE WORLD WHERE PEOPLE CAN SPOT THE ERROR IN SOMEONE'S TYPING BUT CANNOT SPOT A TEAR IN A FRIEND'S EYE,
EVEN IF I WIN THIS WORLD WHAT'S IN IT FOR ME?
THE WORLD WHERE PEOPLE CAN GROW ANY CROP ONLINE BUT CANNOT EVEN PICK UP A SPADE IN REAL LIFE,
EVEN IF I WIN THIS WORLD WHAT'S IN IT FOR ME?
THE WORLD WHERE PEOPLE RELISH THE FOOD AT MCDONALDS AND DOMINOS, BUT CRIB OVER HOME COOKED FOOD,
EVEN IF I WIN THIS WORLD WHAT'S IN IT FOR ME?
THE WORLD WHERE PEOPLE ARE READY TO KILL FOR A FEW SHREDS OF PAPER,
EVEN IF I WIN THIS WORLD WHAT'S IN IT FOR ME?
THE WORLD WHERE PEOPLE KILL IN THE NAME OF RELIGION,
EVEN IF I WIN THIS WORLD WHAT'S IN IT FOR ME?
THE WORLD WHERE A MAN IS READY TO KILL HIS BROTHER OVER PROPERTY AND MONEY,
EVEN IF I WIN THIS WORLD WHAT'S IN IT FOR ME?
THE WORLD WHERE THE VALUE OF MONEY IS MORE THAN THE VALUE OF LIFE,
EVEN IF I WIN THIS WORLD WHAT'S IN IT FOR ME?
THE WORLD WHERE LIVING A LIFE IS TOUGHER THAN KILLING A LIFE,
EVEN IF I WIN THIS WORLD WHAT'S IN IT FOR ME?
THE WORLD WHERE IT'S EASIER TO EARN MONEY BY CHEATING THAN BY WORKING HONESTLY,
EVEN IF I WIN THIS WORLD WHAT'S IN IT FOR ME?
THE WORLD WHERE THE VALUE OF A GIFT IS THROUGH ITS PRICE AND NOT ITS EMOTIONS,
EVEN IF I WIN THIS WORLD WHAT'S IN IT FOR ME?
THE WORLD WHERE THE MEASURE OF A MAN IS THROUGH HIS CAR AND HOUSE RATHER THAN HIS CHARACTER,
EVEN IF I WIN THIS WORLD WHAT'S IN IT FOR ME?
THE WORLD WHERE PEOPLE LOVE THEIR POSSESSIONS MORE THAN THEIR FRIENDS AND PARENTS,
EVEN IF I WIN THIS WORLD WHAT'S IN IT FOR ME?
THE WORLD WHERE THINGS ARE LOVED AND PEOPLE ARE USED,
EVEN IF I WIN THIS WORLD WHAT'S IN IT FOR ME?
THE WORLD WHERE PEOPLE DO ANYTHING FOR A BETTER PAY BUT NOTHING FOR A BETTER CONSCIENCE,
EVEN IF I WIN THIS WORLD WHAT'S IN IT FOR ME?
THE WORLD IS BAD AND I KNOW THAT BUT SILL IF I WIN THIS WORLD,
WHAT'S IN IT FOR ME?
poem by Deepak Hariharan
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The Incredible Shrinking Country
It’s become more and more evident that there
is a concerted effort by global oligarchs to emotionally,
and financially bankrupt the United States of America.
Wall Street bankers, Federal Reserve Bank, corrupt
Politicians and the Military/industrial complex
are the instruments of the destruction.
The “Derivatives” debacle created more debt than the
American people will ever be able to effectively reduce,
much less pay off.
Greed drew in other Countries that are now moving toward
or are already bankrupt. The “domino effect” threatens to
destroy global economy. Global elite have effectively enslaved
the World using debt.
To further globalist agenda;
Higher food and oil prices.
U.S. monopoly of dollars for oil no longer effective, as
Russia with its enormous oil reserves and production
is selling oil to Europe and China for Euros and gold.
The ultimate goals of the globalist elite include;
1. One world government
2. One world currency
3. One world religion
4. Control of world food production
5. Eugenics and reduction of world population
'He also forced everyone, small and great, rich and poor, free and slave, to receive a mark on his right hand or on his forehead so that no one could buy or sell unless he had the mark, which is the name of the beast or the number of his name. This calls for wisdom. If anyone has insight, let him calculate the number of the beast, for it is man's number. His number is 666'
(Rev.13: 16-18)
ROTMS
poem by Ray Lucero
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