WALL STREET BACK ON THE ATTACK

The hedge funds and the proprietary traders of the banks too big to fail smell big money once again. They are back on the attack. Instead of the debt of mere companies, this time it is the debt of the countries themselves that they are going after.

This was made possible by government and central bank bailouts of private debt. Now that the debt has gone public, the countries have become ground zero for the bloodthirsty money shufflers from Wall Street.

The important thing to understand is that we're dealing with criminals vs. fools. And the criminals can put on the shorts faster than the fools can print money. Wall Street will pick off country by country, paper currency by paper currency.

This strategy has provided the pathetic U.S. dollar with a reprieve. In reality, it is an opportunity to get out of U.S. dollar investments while you still can. The debt dilemma of the United States is so drastic that it is merely a matter of when and not if. When the bad guys are through with Europe, Great Britain and Japan, they will come after the reserve currency of the world. When that happens, confidence will be lost in all paper currencies, and the financial system as we know it will cease to exist.

May 30, 2010