The Fed stating that it will keep interest rates exceptionally low through 2014 is a symbolic act, like Warren Buffett stating that he would like to pay more taxes. - The King ReportThe topic for this post came to me from an exchange of emails with a friend and colleague. After he had digested Obama's pathetic excuse for an election campaign speech the other night and had figured out all of the lies embedded in the rhetoric, he made the observation that "our problems in this country are far worse than even we can imagine." The "we" being the people who actually bother trying to figure out what's going on and have moved a lot of money into precious metals based on what they are seeing.
I responded with this:
"The fact that our country is being looted like it is - and as openly as it is by insiders who see even more than "we" do - is the clearest of any possible signal that things behind the scenes in this country are far worse than anyone outside the inner circle of looters can possibly know. It's getting beyond trying to paper it over and hide the truth for much longer and that's why there's the kind of money-grab going on by the big banks like the one being done at MF Global."If you have even a shallow knowledge of history, you know that right before any empire collapses, there is a big wealth grab by anyone in a position to do so. It's no different than what is going on now in this country. And Obama is the perfect cover for what's going on because his speech-making abilities mesmerize the ignorant, stupid and desperate who support him and there's plenty of others out there who choose to believe him out of political and societal correctness. Sorry but that's the Truth.
And the Truth of the matter is that - in a way - we get to watch "the Fall of Rome." That's really what's going right now. It's kind of cool in a way, in the context of trying to "make lemonade out of lemons." Isn't it great? JP Morgan gets to keep $1.2 billion in funds that legally belong to customers of MF Global, who knows what Jon Corzine gets besides a free pass from jail and we get the lemons Obama threw at us the other night...