tag:blogger.com,1999:blog-7982981413278241287.post5064351459739878123..comments2023-10-28T17:54:39.467-06:00Comments on The Golden Truth: The Big LieDave in Denverhttp://www.blogger.com/profile/03016238915167131989noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-7982981413278241287.post-78087585372649250962013-01-08T12:30:27.750-07:002013-01-08T12:30:27.750-07:00It has been four long winters since the federal go...It has been four long winters since the federal government, in the hulking, shaven-skulled, Alien Nation-esque form of then-Treasury Secretary Hank Paulson, committed $700 billion in taxpayer money to rescue Wall Street from its own chicanery and greed. To listen to the bankers and their allies in Washington tell it, you'd think the bailout was the best thing to hit the American economy since the invention of the assembly line. Not only did it prevent another Great Depression, we've been told, but the money has all been paid back, and the government even made a profit. No harm, no foul – right?<br /><br />Wrong.<br /><br />It was all a lie – one of the biggest and most elaborate falsehoods ever sold to the American people. We were told that the taxpayer was stepping in – only temporarily, mind you – to prop up the economy and save the world from financial catastrophe. What we actually ended up doing was the exact opposite: committing American taxpayers to permanent, blind support of an ungovernable, unregulatable, hyperconcentrated new financial system that exacerbates the greed and inequality that caused the crash, and forces Wall Street banks like Goldman Sachs and Citigroup to increase risk rather than reduce it. The result is one of those deals where one wrong decision early on blossoms into a lush nightmare of unintended consequences. We thought we were just letting a friend crash at the house for a few days; we ended up with a family of hillbillies who moved in forever, sleeping nine to a bed and building a meth lab on the front lawn.<br /><br />Gotta love Matt Taibbi!<br /><br />http://www.rollingstone.com/politics/news/secret-and-lies-of-the-bailout-20130104?print=true<br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-15694674174231665812013-01-06T08:57:20.621-07:002013-01-06T08:57:20.621-07:00Sad but true, and you are FAR from alone in that t...Sad but true, and you are FAR from alone in that thought, which has equally dire implications.Anonymoushttps://www.blogger.com/profile/06657360609873446106noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-56924679956020704772013-01-06T08:56:24.626-07:002013-01-06T08:56:24.626-07:00"Either future Treasury bond auctions will fa..."Either future Treasury bond auctions will fail OR it will take significantly higher interest rates to induce new money into Treasuries to make up for the trillions the Fed has been buying."<br /><br />Except that 600 plus quadrillion in Interest Rate Derivatives alone control the interest rate and bond market. The paper gold market does the rest. That's why they brought Summers in.<br /><br />The Fact that the FED is the buyer of last resort shows that support for the dollar is falling. There will come a time when the ESF is powerless, but for now a lot of old money follows the status quo.Anonymoushttps://www.blogger.com/profile/06657360609873446106noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-62559338433113763532013-01-05T04:26:58.708-07:002013-01-05T04:26:58.708-07:00I was a big follower of Armstrong when he was in p...I was a big follower of Armstrong when he was in prison, but since his release I've found his published views confusing and contradictory.<br /><br />I can't help wondering if he did some sort of deal with TPTB to get released? I wouldn't blame the poor guy for selling out, but I'll never trust him from now on, either.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-8041889982855093692013-01-04T21:12:18.414-07:002013-01-04T21:12:18.414-07:00Professor Polleit explains why fiat currency syste...Professor Polleit explains why fiat currency systems produce 'collective corruption'<br /><br />"The problem with central banking has been mainly the old problem of power -- it corrupts.<br /><br />"Central bankers are supposed to be more capable of restraint than ordinary politicians, and maybe some are, but they are not always or even often capable of the necessary restraint. One market intervention encourages another and another and increases the political pressure to keep intervening to benefit special interests rather than the general interest -- to benefit especially the financial interests, the banking and investment banking industries. These interventions, subsidies to special interests, increasingly are needed to prevent the previous imbalances from imploding.<br /><br />http://www.gata.org/node/12095Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-79494810659081378862013-01-04T16:28:37.429-07:002013-01-04T16:28:37.429-07:00There was a time when I actually trusted the words...There was a time when I actually trusted the words of people in various government sectors. Really.<br /><br />Not any more. This President, this Congress, and this FED flat out lie and mislead. They are the most dishonest people in the U.S. I know convicted felons with far more integrity. Brianhttps://www.blogger.com/profile/11009623520148094685noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-12093119157623669432013-01-04T14:52:13.471-07:002013-01-04T14:52:13.471-07:00Could you critique some of the stuff Armstrong is ...Could you critique some of the stuff Armstrong is putting out?<br />He's saying there is NO CRISIS!<br />He's also saying there's plenty of buyers for the flood of debt being issued.<br /><br />http://armstrongeconomics.com/armstrong_economics_blog/page/2/<br />----------------------------------------<br />I like these whoppers I found:<br /><br />The Fed is concerned that if interest rates rise because of inflation, the balance sheet will tank. The Fed will shift now to be more concerned about the bond market. The crisis they face is rates are so low, even a quarter point up tick will be devastating for the bond market.<br />-------------------------<br /><br />The Fed is concerned that if interest rates rise because of inflation, the balance sheet will tank. The Fed will shift now to be more concerned about the bond market. The crisis they face is rates are so low, even a quarter point up tick will be devastating for the bond market.<br />--------------------------<br />CORE ECONOMIES have historically imploded - NEVER exploded with hyperinflation – that is reserved for countries that nobody buys their debt anyway. Here, the government will try to keep the bondholders happy. They come first!Anonymousnoreply@blogger.com