Sunday, September 18, 2011

Financial Terrorists Strike, Again

David DeGraw

It’s deja vu all over again, again. How many times are we going to throw trillions of dollars at the “too big to fail” banks before someone, anyone in a position of power realizes that they have to be broken up? The Fed and the Obama Administration, all the King’s horses and all the King’s men, keep trying to put Humpty Dumpty back together again. Hello, the global Ponzi players had quite the run but it’s O-V-E-R. The fraud has been exposed to too many people now. So please stop throwing our economic future into the abyss. The Eurozone is absolutely imploding and once again we are being thrown under the bus in attempts to prop up an insolvent banking system. This is all so absurd! Enough is enough already.

Just like in 2008 when the big hit to the system came not from traditional sources of risk but perfectly innocuous and thus ignored money markets, so the same will happen this time, as the biggest crunch will come completely out of left field. It always does…. Alas, when the moment ends, and said banks can no longer afford to lend out cash, and in fact need it, may we ask: who will provide this source of global bailout capital? Oh yes: Ben Bernanke of course, and who will be facing trillions of dollars in full loss exposure should central planning not be successful in patching up the second Great Financial Crisis? Why you, dear reader. The bottom line, as George Bush said in 2008, “This sucker’s going down.”

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