Is there anyone out there who is sick and tired of being lied to? Am I the only one who sees the blatant conspiracy that exists between our elected representatives, the Federal Reserve, the U.S. Treasury and the most powerful banking and corporate institutions? While we all know the slogan: "It's the economy, stupid" got Bill Clinton elected back in 1992, do we know what those words really mean in 2008?
Yes, we all know about the high gas and food prices and are properly complaining about them. But folks, that's like putting the head of a pin on the tip of an iceberg when compared to what's really going on behind the never-ending spin and repeated outright lies.
Nineteen of the largest investment banks are groveling on a weekly basis at the Federal Reserve's begging bowl just in order to stay solvent. When they're not there, these same banks are over in Singapore and South Korea with cup in hand to these countries' sovereign wealth funds. Fannie Mae and Freddie Mac, who own or guarantee 90% of the mortgages outstanding in the United States (that's roughly $5 trillion), are toast. They will have to be nationalized by the Federal Government. And General Motors and Chrysler are waiting in the wings.
Where do you think that money is going to come from to bail out these and other institutions? There's only two options: the U.S. taxpayer or that marvelous invention of the Industrial Revolution, the printing press. More paper dollars lead to higher and higher inflation down the road. The 500 to 1,000 trillion dollar unregulated over-the-counter derivative problem is coming home to roost. Why doesn't that make you mad as hell? The complacency is stupifying when you try to put your arms around the truth as opposed to the PR we are treated to day after day.
The facts are irrefutable. There is no practical strategy in place nor is there a viable solution to prevent a systemic meltdown of our financial system. Protect your assets while you still can.
08/28/2008
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