The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Robin Plunder who wrote (108211)	5/4/2010 11:36:03 AM
From: Jack Be Quick	of 110194

<focus should be on fiat money, combined with decades of statist policies as cause of crisis> My view, what I've read of Taibbi's writing about the financial plundering has been great, providing a genuine public service. Still, I think you are spot on with your comment about where the focus finally needs to be. I would like to have heard someone during the recent congressional "hearings" on GS ask where the money that they were all using to play these games was coming from. Bad enough when the "bank" loses all of its depositor's hard earned money (and bad enough that they might have to actually think about that a little bit), but easier for them and worse for us all when they lose 10-20-30... times that amount getting "levered" up, which is, of course, allowed under the rules of the fiat regime (sometimes with a little bending). Course, I can understand the "bank's" motives - if all they had to invest was the float from the working person's paychecks, except maybe for some government credit unions, they'd never get a decent bonus.<g> cheers.

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