I hope my readers aren’t buying any of this crap about the economy getting better or that we have some how done anything to change the way we got in this mess in the first place. Quite the contrary, it is business as usual on Wall Street and with the big “Banks”. You know the ones that were too big to fail, so that is why our leaders reached in OUR pockets and extracted $7 trillion to “bail them out”. Banks is an interesting word these days. It used to be that a bank was a place where you put your money in a checking or savings account and then the bank would make loans to people and businesses in the community and the interest on those loans allowed the bank to pay interest on our deposits and the bank made money too.
Paul Volcker was asked the other day in a senate hearing on banking what we are doing to control and regulate the banking industry and specifically how was the government going to identify banks who were behaving in a manner that was risky. Specifically he was asked how and by what criteria will the government determine risky behaviour. I kid you not when I say his response was ” it is like pornography, when you see it, you know it!” OMG we are really in trouble! Shah Gilani, Contributing Editor for Money Morning, gives us a sobering real-time assessment of how corrupt this bail out crap is as it relates to Goldman Sachs. It is well worth the read and you can find it here: http://moneymorning.com/2010/02/12/trading-ban/
He makes some startling revelations such as Goldman Sachs was changed from an investment firm to a bank in ONE day! by the feds and on a Sunday none the less. Why, because it gave them access to billions from the Fed at a discounted rate. Nothing in the history of mankind and in the annals of corrupt governments and corrupt leaders even comes close to what is an on-going theft of our personal wealth and capital here in the good ole United States of Corporations. The most frustrating aspect of this is the complete complicity of MSM to the whole process. I can not believe that we are still completely oblivious to what is really going on. There is no leadership on the Hill, there is no outrage in the street, and there is no activity on the political front to check this out of control behavior.
Instead, drunk with power and convinced we will not wake up, the PTB are instead going for it all and I mean every red cent you have or will have! This is what is next I believe for us. First, the second leg down in Depression2. By say August or September, the Dow will be at 4500, and unemployment will be double what it is right now. The “government” will respond by proposing the end of all social spending programs to bring the budget deficit under control. As you know the congress raised the deficit limit in early January to 4.7 Trillion and by the first week in February we had reached that limit! WTF! This will be the justification to end social security, medicare, even federal support to education and they will propose a 10-20% “wealth” tax on all private pension funds like IRAs and 401Ks. they might even propose a 10-20% Value Added Tax (VAT) on all purchases. The EU is now proposing to raise the VAT there to 20% this week. Now I know some of my readers will be saying. “there he goes over the edge, he is nutso”. To that I say, talk to me next year at this time and we will see how far off the deep end I really am at this moment. That is if you can get out of the detention camp you are in or if there still is such a thing as the internet or email.
It is not that the PTB assume we will stay asleep. No they have a contingencies for the possibility that we will wake up before the last cards are played. I have written previously to what is being planned in case we do take to the streets. But ask the folks in Pasadena who have seen convoys of UN vehicles without any license plates roaming their streets lately, or the people of China who are having their internet shut down, or the people of Iran who are experiencing the same thing, what they are thinking. These are not things that are going to happen, they are happening as I write this article today. Ask yourself why over 1,000 CEOS have resigned in the last 18 months, over 50 in the last month alone. To put that in perspective, there were only 27 CEO resignations of mid and large cap companies in the whole year of 2007. They are getting out of Dodge!
The Tea Baggers are right in their instinct of things, but their organizations have been totally comprised and thus instead of accomplishing their goals, they are instead going to be used as a vehicle to finalize the economic enslavement of us all. I have tried to stay very moderate in my comments and remarks. I try only to present facts and not conspiracy theories in my blog, but honestly, time is running out. Don’t, please don’t take my word for any of this. It is important that you KNOW these things for yourself. If by some miracle, we can all wake up at once, there may be some hope for us all. But at this moment, in my pessimistic and cynical mood, I have a sick feeling it may be too late, but I can hope it is not the case. Sorry for the doom and gloom, but take it as a medical slap in the face to keep you conscious.
Here is Uncle Willie’s thought for the day.