The temporary suspension of rational thinking...
Have you noticed that about once each decade,
Wall Street seems to be able to magically
suspend all rational thinking by the investing
public?
Michael Milken & Ivan Boesky did it with
junk bonds and LBO's in the late 1980's.
A decade later Mary Meeker & Henry Blodgett did it
with the tech and internet bubble of the late 1990's.
And here today, they're doing it again with the housing
and credit derivatives bubble.
You'd think that no one on Wall Street has memory
capacity longer than ten years, because they
never seem to learn their lesson.
...or, do they?
Is it us, or is it them -- that never seems to
learn the lessons of the market?
Maybe Wall Street really has learned their lesson?
The lesson that the public can be duped on a regular
basis, again and again... about once every ten years.
And the masters of the "duping of America" have
been Central Bankers.
Central Bankers who serve at the pleasure of
Wall Street Investment Bankers.
Investment Bankers... not Congressmen from Texas.
Did you catch Bernanke's response to Ron Paul about
the 20% increase in money supply, dollar depreciation
and inflation?
Here's the clip:
youtube.com
But, the real story here wasn't Pitbull Paul's
ass chewing of Bernanke. It was Bernanke's
response which shows the degree of complete and
utter disrespect for the American people and
their intelligence.
This response can only come from someone who believes
that the American public are not just "dupes"...
but, also "dopes."
BERNANKE on Money Supply at 4:22 into the video:
"The increase in MZM (money supply) is probably related
to the financial turmoil... people have been taking their
savings out of risky assets and putting them into the bank.
And that makes the money supply data show faster growth."
What the @$%# ?!?!?!
People... every day Americans (with a negative savings
rate mind you) are taking their money out of “risky
assets” and putting their money into the bank...
and "that" is what that parabolic spike in money
supply and liquidity is all about.
“That” is what has caused the massive depreciation
in the U.S. Dollar and run away inflation… people
saving money...putting their cash into savings accounts
at the local bank!
Pay no attention to the little man behind the curtain and
ignore all that green ink all over his hands... it's not
Central Bankers who are to blame for this massive debt
and credit orgy... it's Ma & Pa Kettle on Main Street
U.S.A. taking their cash out from under the mattress and
putting it back into passbook savings accounts at the
local S&L that's ramping money supply!
Can you believe that our Fed Chairman - Mr. Ben Bernanke,
actually gave that answer to Congress, on National T.V.?
And what's even more disturbing is that no one in Congress
(other than Ron Paul) even batted an eye.
Bernanke should have been asked to resign after that answer.
Or better yet, Ron Paul could have clinched the election
by leaping over his desk and pulling a single action
Colt Peacekeeper from the small of his back and putting
Bernanke under house arrest for high crimes and treason
against the American people (vbg).
If you ever wanted to know what Washington thinks about
the intelligence level of America... that answer from
Bernanke spoke volumes.
We have a crisis in America that can only be solved
via the ballot box...and it we don't solve it in 2008,
then we're witnessing the final curtain fall upon yet
another once great global power.
Register to vote if you're not registered.
Write a check, or get your credit card out and put
your money where your heart is.
Talk to your children, your grandchildren, your friends,
family and co-workers about how important this election
is going to be... and what's at stake.
Talk to them about Ron Paul.
Email them links to his web site and these videos.
Let them watch with their own eyes and listen with
their own ears...and see, hear and feel the utter
contempt that the Fed, Washington and Wall Street have
for the average American.
Stop them from becoming "dupes and dopes" once again.
S.O.T.B. |
