The Golden Truth: Obama To Let AIG Fraud Go Unpunished

Tuesday, April 6, 2010

Obama To Let AIG Fraud Go Unpunished

I can't summarize this story any better than my friend and colleague "Jesse" of Jesse's Cafe Americain, so here is the link to story: Another Broken Obama Campaign Promise

I will say that, with my securities industry background, training, knowledge and experience, AIG and Goldman Sachs and Henry Paulson and Tim Geithner and Ben Bernanke are being permitted to get away with the largest fraud, theft and Ponzi scheme in the history of the planet.

Obama promised to go after the Wall Street thieves and punish the guilty. The American public has been bamboozled first by Wall Street and its enablers, and now by the man who promised "change and reform" of the way in which DC and Wall Street function. By the way, does anyone realize that the Democrats extended the Patriot Act, secretly, by slipping its extension into the Healthcare Bill? Anyone who voted for Obama and still supports his Presidency is either in complete denial of the Truth, completely naive or simply refuses to look at the facts.

3 comments:

JoeTuesday, 06 April, 2010
The nightmare of AIG, Freddie, Fannie and TBTF. It reminds me of a self-destruct order given by Capt. Kirk, only this time it's Banana Ben running the bluff. The only question is, how much time do we have before the bluff gets called.

Joe M.
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HopiumTuesday, 06 April, 2010
Well FEDS minutes are out...seems currency destruction is right on schedule.....
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Dave in DenverTuesday, 06 April, 2010
This was my comment on the Fed minutes that might get posted in Midas tonight:

heh heh hehhh...good catch Andy. Here:

"Fed watchers have informally translated the "extended period" to mean six months. But Fed officials said pledge would not tie their hands, the minutes said. A few FOMC members warned against an early start to rate hikes, the minutes said. At the meeting, Fed officials noted the economy was strengthening while core inflation readings were weaker than expected. There was little new about the ultimate exit strategy. According to the minutes, there was a discussion of formulating and communicating the exit strategy, but no decisions were made."

Let me translate this: "the economy is still in bad shape, employment continues to deteriorate, if we start telegraphing rate hikes and liquidity tightening, the economy will fall off a cliff. We are not only not going to talk about an exit strategy for the trillions we threw at the system, but get ready for QE2. We will not telegraph this either, but watch the Treasury injections into Fannie, Freddie, FHA and the FDIC. We are looking forward to having Janet Yellen on board as Vice Chairman so we can begin talking about the merits of setting a negative interest rate policy."
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Why Gold?

Gold is the world's oldest currency. You exchange your fiat currency (dollars, euros, yen, yuan) into gold as an insurance policy against catastrophic Central Bank and Government policies which serve to destroy the value of fiat currencies and destroy democracy.

Gold can ONLY be considered an investment to the extent that it remains significantly and historically undervalued in relation to the fiat currencies against which its value is measured. Otherwise it remains the world's oldest currency and is completely free from the counterparty risk associated with currency by Government fiat (i.e. fiat currencies rely on a Government's "full faith and credit.")

Quote Of The Month Courtesy of "Jesse"

Unfortunately for Larry Summers, Ben Bernanke, and their friends at the BIS, they have not yet figured out how to print physical gold, silver, and other essential commodities, and the world is reaching the point where it might simply start ignoring the New York based markets with respect to essential commodities such as basic materials, oil, foodstuffs, and the like, as they become increasingly irrelevant, fraudulent, and Orwellian. And then where will the financial engineers be, except with no more excuses and no place to hide?

Here is the link to his entire commentary, well worth a read:

http://jessescrossroadscafe.blogspot.com/2010/07/gold-daily-chart-shock-and-awe-for.html

Great Quote From Jim Rogers On Govt CPI Reporting

JR: I mean, we have inflation now. If you go to the shop, whether it’s groceries, or education or insurance or health care, prices are going up for everything. The government lies about it in the US. Some countries lie, many countries don’t: Australia, China, India and Norway. Many countries don’t lie about it and acknowledge that we have inflation. Others lie about it, the UK and the US, but if you go shopping you know prices are up.

Q: Are you saying that the American Consumer Price Index (CPI) published by the US Bureau of Labor Statistics is a lie?

JR: In my opinion, yes, of course it is. Have you looked at it? They’ve changed their accounting several times in the past few decades. When housing was 20% to 25% of the CPI and housing was going up, they didn’t count it, saying rents weren’t going up, and then when home prices started going down, they counted it. It’s the same with many things. It’s staggering some of the tortuous reasoning that the BLS has used over the past 25 or 30 years. When the price of gasoline goes up, they say it’s not really going up because it’s better gasoline, better quality, therefore you’re getting more for your money. I mean, it’s endless, the stuff that they say and for some reason people sit there, although more and more people are catching on, and accept what the government says.

source: www.clusterstock.com

Quote of the Week

"The primary function of a Central Bank is to engage in the massive transfer of wealth from the middle class to the wealthy elite. The Federal Reserve was set up to do this with the blessing and support of Congress." - Dave in Denver

If you refuse to believe the above, please read "The Creature From Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin and then explain to me why the Senate voted down the Vitter Amendment and Congress refuses to pass a law requiring a full audit of the Fed, even though the Fed is using taxpayer-backed money to bailout Wall Street and Europe.