Well that a was an infuriating experience. What a fucking mess.
I know punk is dead but today’s empires, tomorrow’s ashes…
http://www.youtube.com/watch?v=RjlgQyyKidE&feature=related
I wish more people would watch it.
This Frontline piece is also excellent.
I watched last night as well. After reading The Big Short and Griftopia, there really wasn’t anything new for me. I had a hard time dealing with the editing of the film. I wish they would have had the unedited interviews in full to provide some context, its pretty easy for critics to pick the film apart because of this. Nevertheless, its was entertaining to watch so many self proclaimed experts be put on the defensive. This certainly will not be the film that becomes mandatory viewing at Harvard Business School.
I haven’t watched that, but I did read the book “All the Devils are Here,” which did an excellent job of explaining what happened. I highly recommend it if you haven’t read it. It provides a very in-depth look at the underpinnings of the financial crisis and the whole sub-prime mess.
Spot
One thing people must understand is that the global central banking cartel was created by and answers to the money center banks, so every action by the Fed and other central banks is to protect the these interests.
This means not allowing any bondholder invested in this insitutions to take a loss and to prop up these TBTF zombie banks at all costs. (BAC is up on the chopping block next, mark my words.)
If there is one thing to learn from 2008 it is the above, because armed with this information you can layout exactly what the Fed and other central banks are going to do now that liquidity and solvency issues are coming home to roost again.
The money printing is about to go apeshit and all eyes are on Bernanke’s speech this Friday.
In the end, the most responsible way to protect your wealth is through ownership of physical gold and silver.
In line with what you are saying, today Bloomberg reports that secret loans to banks by Fed were 5x of TARP funding – makes me think TARP was a cover for the secret lending.
The money printing is about to go apeshit and all eyes are on Bernanke’s speech this Friday.
In the end, the most responsible way to protect your wealth is through ownership of physical gold and silver.
Isn’t that required by the ponzi scheme that exists? Every loan creates debt, money is debt, therefore more money is needed to cover the debt. I am not an expert on the issue but instead of sitting around and waiting for a required mass influx of paper money, why don’t they just print out the required ratio based on the amount of new debt each year?
In line with what you are saying, today Bloomberg reports that secret loans to banks by Fed were 5x of TARP funding – makes me think TARP was a cover for the secret lending.
Because the USD is the reserve currency of the world, the Federal Reserve is not the US central bank, but the world’s central bank.
This fact is made perfectly clear by the massive sums of money loaned to non US institutions.
The US taxpayer was the co-signor, but the joke on us, was that we didn’t even know it.
There is a reason the Fed is independent, because if it weren’t it wouldn’t be able to serve its owners.