A Dangerous Method

Thomas Sowell said “It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions into the hands of people who pay no price for being wrong.”   …today I would say, “or into the hands of people who would greatly benefit financially for being wrong.”

Larry Summers, the number one selection to head the Federal Reserve this year, removed himself from the pack for the lead job when Ben “Buzz Light Year” Bernanke steps at the end of this year.  In his withdrawal letter Mr. Summers stated, "I have reluctantly concluded that any possible confirmation process for me would be acrimonious and would not serve the interests of the Federal Reserve, the administration or ultimately, the interests of the nation's ongoing economic recovery.''

Larry Summers was the chief economist of the World Bank before he became Clinton’s head Deputy of the U.S. Treasury Department until 2001.  You would remember “Larry the Plumber” as the guy who in 1997 along with then Assistant Secretary of the Treasury Timothy Geithner, loosened the pipes by deregulating the banks here and across the globe.  In this memo, released by investigative reporter Greg Palast, “Timid Tiny Tim” knowingly planned their “end game” and the crisis which finally commenced in 2006 to steal your wealth.   

http://www.gregpalast.com//vulturespicnic/pages/filecabinet/chapter12/Geithner_Summers%20Memo.pdf

Good old Larry was supposedly President Clinton’s selection to head the U.S. Treasury.  Summers was actually selected by the bankster’s and secretly met with Jon Corzine of Goldman’s to plan out the world’s financial deregulation.  The heads of the top banks, Citibank now Citigroup, JP Morgan, Chase Manhattan, Bank of America, Merrill Lynch and Goldman Sachs had found the perfect puppet for their stealth money thefts.  They told Larry to complete the de-regulation of the banks which changed the rules against derivative trading to allow banks to use your deposits to gamble with. Banks now hold but a penny of your money on deposit for every $1000 they loan.  Summers then repealed Glass-Steagall, the “Grand Daddy” of all de-regulations that collapsed the housing mortgage market.   Next, to insure that money didn’t flow to the safety of other countries, Summers and the bankers used the Financial Services Agreement to deregulate their national banks as well.  This required other nations to take our toxic derivatives for payment and I if they didn’t sign, guess what, they were not allowed to play in their game and sell their goods internationally.  Only one country, Brazil declined to sign their agreement and was threatened with an embargo which never materialized and Brazil thrived in the aftermath of the meltdown.   China signed up, got lot of bonds, lots of our jobs and control of our auto parts market.  Greece and Ecuador was destroyed with derivative swaps, Argentina had to sell its oil companies and water systems, European blocks are beholden to Germany forever and Spain received 25% unemployment. Here at home we lost our retirements in the stock market, went upside down on our homes, got pink slips from employers, followed by foreclosures and business closings. Then the inevitable came, bankruptcies for homeowners and businesses across the U.S.  Larry Summers should be in prison serving time for the utter pain he has caused millions of Americans and those in other countries including Italy and Indonesia.

Today it is common practice to allow all industries to write their own regulations on how to conduct their business fairly.  The banking industry does it, the oil industry, the pharmaceutical industry, the food industry (Monsanto’s GMOs) and our own judicial system under Mr. Holder.  He has failed to charge his peers with these crimes.  No one has been held accountable who was in their responsible positions who committed the thefts.  The housing crash was a well planned crisis meant to steal your down payments and labor so these banks could swoop in and buy up swaths of hundreds of homes with interest rates of less than 2%.  They set up the ruse and bet millions knowing that millions would lose their homes.  Guess what?  They are setting up another meltdown to take the last millions you have left in their next crisis if you are still playing in their ball game.    

Larry wasn’t pressured to withdraw by Democrats for his insults he made that, “women are poorer at math as compared to men” and it isn’t that he doesn’t want to be remembered as the Chairman of the Federal Reserve that brought down the once “greatest nation of the world.”  Possibly Larry just realized he could make far more money ($37 Billion Net Worth) with less stress, less work and less exposure by consulting the big “too big to fail” banks on economic issues by turning down the job.  

Most likely it was the memo I referred to that investigative reporter Greg Palast discovered that sealed the deal to eliminate Summers from the job.  You see this administration just doesn’t need any more embarrassments of growing mounds under the oval office presidential seal carpet.

Bernanke’s decision to continue printing is an obvious admission that Q-Infinity will not turn around this economy.  The American dollar, the reserve currency of the world, will be the sacrificial lamb.  The final moment and impetus for the crisis won’t be known until those in power have wielded their final tools and placed their last puts betting against the stock market, the housing market and starting the war to loot your shrunken, small pot.  Whether promises to the citizenry or borrowed debt the root cause of economic failure is always the same and that is debt!  When the market starts to worry about our government’s ability to fund its promises the end is near.   Detroit may be the first city forced into bankruptcy but it won’t be the last!  There are hundreds of other states with cities unable to fund their promises to public state workers and local government workers.  Some are even in worse shape than Illinois such as Alaska, Mississippi, Ohio, Connecticut and New Mexico.  Our government is again on the verge of closing down and when workers checks are late or fail to come in the mail, chaos will break out amongst the entitlement population, 75% who receive some form of support then everyone will discover that gold and silver are the only real money to own. 

Now you know that Q-Infinity cannot be stopped and it is now a permanent government program, the same as social security and welfare was after the Great Depression.  We were told that Q-1,2, and 3 were necessary until unemployment was under that magic 7.5% figure but now we are being told that also inflation is too low and because of that continuation of Q-4 is necessary.  If you haven’t figured it out our government is going to print to oblivion just as the Roman Empire did, the Chinese during the Ming Dynasty did it seven times, England did it under Henry VIII, Germany after WWI and more recently Argentina, Greece, Zimbabwe and currently Japan and the U.S.   You see inflation and high unemployment will always be at our doorstep and always a threat.  Globalism has stolen our jobs and the ability of our once prosperous populace to secure a mortgage for a home or business!  Interest rates fall when there is too much money and no one to lend it to.  That is exactly what we have today, 60 % who have jobs but 30% who cannot qualify for a loan with poor jobs and low incomes. 

Don’t play their game, get out of their banks, stop using their credit and debit cards, get out of your paper 401k’s and IRA’s.  Don’t get suckered into this re-inflated stock market that is just a breath away from exploding and sinking you with it.  Save in precious metals and protect your family before it is too late!