Source: Washington’s Blog
It’s really the Great Bank Robbery.
First, there was the threat of martial law if the $700 billion TARP bailout wasn’t passed. Specifically, Treasury Secretary Hank Paulson warned Congress that there would be martial law unless the TARP bailouts were approved.
Think back to the 1990′s, when the Glass-Stegal Act was repealed by Wall Street cronies. This opened the door for massive financial fraud, derivative schemes and other ponzi-like operations. This allowed the Investment Banks to merge with Deposit Banks. That means the insiders were now gambling with your savings, your pension fund, your city’s municipal bonds and so on. It was a massive looting that created incomprehensible amounts of digital wealth. The Iraq and Afghanistan invasion were also used as an excuse to prop up the Military-Intelligence-Industrial Complex to near black-hole proportions, where they turned this digital money from derivatives into tangible items and wealth. The housing and banking bubbles were then rescued by the massive TARP Bailouts. Then, we have quantitative easing – rounds 1 and 2 – which as the Dallas Federal Reserve President clearly admits, is simply financing the Federal government for the next 8 months of budget shortfall. ...Continue ReadingView Comments (1)