"once the banks feel safe from a depression (off loaded all their trash onto fannie, freddie and treasury), i suspect they will pull the plug on the economy and crash it so they can use their stolen loot to buy assets for pennies on the dollar.
they've done it before and i think they do it again."
Once again, excerpted from Andrew Jackson's Farewell Address, 1837:
"The paper system being founded on public confidence and having of itself no intrinsic value, it is liable to great and sudden fluctuations, thereby rendering property insecure and the wages of labor unsteady and uncertain. The corporations which create the paper money can not be relied upon to keep the circulating medium uniform in amount. In times of prosperity, when confidence is high, they are tempted by the prospect of gain or by influence of those who hope to profit by it to extend their issue of paper beyond the bounds of discretion and the reasonable demands of business; and when these issues have been pushed on from day to day, until the public confidence is at length shaken, then a reaction takes place, and they immediately withdraw the credits they have given, suddenly curtail their issues, and produce an unexpected and ruinous contraction of the circulating medium, which is felt by the whole community. The banks by this means save themselves and the mischievous consequences of their imprudence or cupidity are visited upon the public."
Wash, rinse, repeat.
NC |
