Thursday, January 14, 2010

Great Quote

I stumbled on this quote tonight and thought it was an accurate reflection of what's going in our system:
We haven’t had true capitalism since 1913. We live in a corporate fascist state dominated by the military industrial complex, the financial banking complex and now the healthcare industry complex. It is fascinating that the health industry has spent $396 million in 2009 on lobbying and the financial industry $334 million while Congressmen debate the future of both industries. These industries surprisingly have received a windfall in the legislation that has been put forth by Congress. The system is so corrupt and rotting from within that elections will never result in necessary reform. Corporations are spending $3 billion per year to bribe (lobby) your elected officials. Whose interest do you think Congress is looking out for? (source:  link)
As you may or may not know, 1913 was year that the Federal Reserve Act was voted into law.  I recall that about 7 years ago, a colleague of mine and I were discussing how the financial/economic/political collapse of this country was going to unfold.  I remember my colleague remarked back then that "we would eventually see things happen in this country that will blow our minds."  I can truly say that, although we anticipated a lot of the carnage that has transpired, the outright brazen fraud and corruption both on Wall Street and in the White House/Congress is truly mind-blowing.


  1. Dave, what are your thoughts on platinum and palladium? Good idea for Average Joe to have a few physical ounces of each? Thanks in advance!

  2. re: Platinum and palladium. They are probably excellent investments as an investment in commodities. I'm sure China will ultimately try to buy every last gram of each still in the ground. They are not used as monetary metals like gold and silver, so I don't really follow them. I would treat them as part of an investment in commodities, which is different from investing in gold and silver.

  3. "The system is so corrupt and rotting from within that elections will never result in necessary reform."

    If the ballot box fails
    The bullet box will not.

  4. That is correct Anonymous. And that is exactly what the Govt had in mind when it implemented the Patriot Acts, Homeland Security Act and Detainee Bill. In fact, if you research the history of the Detainee Bill, you'll find that the original legislation that Bush gave to Congress did not have any reference to "domestic threats to the Government," only "external/foreign" threats. Congress went the extra mile and made sure the Government could arrest and detain U.S. citizens inside the U.S. who were deemed a threat.

    It just gets worse from here...unfortunately it will take some kind of eventual revolution from the populace if we ever want to get rid of what is and restore was once was a couple hundred years ago.

  5. Are you sure what once was a couple of hundreds ago was good? I am not familiar with American history but I once watched a movie "Gangster of New York" and it was quite horrifying. That was supposed to be a depiction of NYC ~ 150 years ago.

    I guess the gangsters then = banksters now.

  6. JW, it's been pretty corrupt since the times of Washington, Jefferson and Adams. But it's become corrupt beyond repair since the founding of the Fed and since the closing of the gold window and since that past several Presidents have decided the Constitution is better used at toilet paper.

    At the very least, making everyone use gold as the standard of currency keeps some degree honesty. We had that up until FDR.