Greece With A Triple Hook and Rampant Manipulation In The U.S.

In college we referred to getting a "C" as "getting a hook."  I had one or two in undergrad and one marketing in B-School (I have no idea why they required one Marketing course at the University of Chicago, but I hated it and I hated the guest professor from Northwestern - talk about a b.s. subject).  Greece just got "triple-hooked" by S&P.   This is not good.  The reality is that Greece is insolvent and technically should be rated "D" for "defaulted."  It will be interesting to see how the restructuring of Greece's debts are effected.  I'm sure the most important issue for the big banks and Central Banks is how to effect the reorg without triggering the $100's of billions in Credit Default Swaps.  I guess this isn't as bad as what happened with AIG.  But then again Goldman Sachs does not have a stoolie like Geithner or a plant like Henry Paulson sitting in positions to bail out its losses in this situation...

Even more interesting is the situation heating up in the U.S.  The U.S. is hopelessly insolvent as well, only the degree is Greece x 10.   And who knows how much notional value in derivatives is outstanding on U.S.-related debt. 

I was chatting with someone over the weekend and we treaded on the subject of how corrupt the entire U.S. banking system and Government has become.  It really irritates that me that the CFTC refuses to acknowledge the extreme manipulation going on in the gold/silver markets on the Comex.   Anyone who has looked at all the evidence, and/or has traded the silver market for as long as me (9 years now), would have to have their head up their ass to not see just how obvious and blatant the manipulation is and has become.  I actually thought JPM would give it a rest after Andrew McGuire's smoking gun.  But they've continued on with their typical illegal activities while Gary Gensler and his band of merry thieves at the CFTC look the other way.

The reality is that, just like Francisco D'Anconia's famous speech proclaimed back in 1957 - when "Atlas Shrugged" was published, the people who the laws are supposed to protect us from are in power legislating laws to protect themselves from us (Patriot Act, Homeland Security Act, Detainee Bill).  So I guess that for me to expect that Gary Gensler and Eric Holder, and anyone else in the current Presidential Administration for that matter, including the President, would be willing to enforce the remaining laws in order maintain some semblance of Rule of Law would mean that I would have to have my head up my ass. 

Well, the good news is I've been seeing the light of day for nearly 10 years now and the corruption in this country, especially in DC, gets worse by the day.  And for all those who don't believe that the markets are manipulated or that Government is now operating against your best interests, just ask yourself how many of Obama's campaign promises has he honored?  Why is a tax-dodging moron operating as the Secretary of the Treasury?  Why was Bush's Secretary of Defense kept on under Obama?  Speaking of Obama-lies, I read that Obama's Defense budget is now substantially larger than the Defense budget under George W. Bush.  Did all you who voted for Obama really expect that to be a fact nearly three years into Obama's presidency?  Take your head out of your ass if you didn't...and then read this:  LINK