March 16, 2009
When AIG took more than $170 billion in bailout money from the Federal Reserve, it insisted it was so poor that only emergency funding of public money could save it. That was before AIG revealed it was "contractually obliged" to pay $165 million in bonuses to its executives. Which executives, exactly? The ones who lost all the money in the first place!
|People will be marching in the streets, demanding the arrest of all the rich executives and corrupt bureaucrats who took part in this massive financial theft.|
But this article isn’t about the facts surrounding the AIG bailout and its subsequent payout of $165 million in bonuses to incompetent executives. This is about something far more serious: The growing discontent among taxpayers who are inching ever closer towards a popular revolt.
Yes, there is a limit to how much even the mainstream public will put up with. And the only reason they aren’t marching in the streets right now is because all this bailout money hasn’t hit them in their own pocketbooks… yet. But once the hyperinflation of the U.S. dollar begins (which is now inevitable), and the public starts to connect the dots between their own financial losses and the bailout bonus money paid to rich executives, they are going to be utterly outraged at the magnitude and arrogance of the financial theft that took place right in front of them.
I believe it is no exaggeration to say that when these issues come to a crescendo, people will be marching in the streets, demanding the arrest of all the rich executives and corrupt bureaucrats who took part in this massive financial theft.
Let’s be blunt about this: This $165 in bonus money being paid to incompetent AIG managers is essentially money confiscated from hard-working American taxpayers. It’s just like being mugged on the street, except this theft will cost you much, much more than any mugging.
What we are witnessing here with this bailout fiasco is a massive theft of money from the People. And it’s the kind of scandal that makes people hopping mad when they finally figure it out. This is the kind of stuff that leads to wars of independence (read your American history books) and breakups of entire nations. And instead of stopping this madness and telling AIG they can’t pay million-dollar bonuses using taxpayer bailout money, the U.S. Congress and President just look the other way, pretending no theft is happening at all! Only a few lawmakers like Rep. Barney Frank (and Ron Paul, of course) have dared to stand up and challenge this fiscal madness (http://finance.yahoo.com/news/Frank…).
Betting the farm on a bankrupt nation
They should be. The U.S. is so hopelessly lost in debt spending that there is no conceivable way to avoid outright national bankruptcy. So President Obama now takes to the podium and declares what every informed person in the world knows to be a lie, saying, "…every investor can have absolute confidence in the soundness of investments in the United States."
And I have a bridge to sell ya in Brooklyn, too!
A White House spokesperson adds to the hilarity by saying, "There’s no safer investment in the world than in the United States [debt]." (http://www.bloomberg.com/apps/news?…)
[efoods]These are extraordinary statements from the world’s most highly-mortgaged debtor nation. They remind me of tobacco company executives stating, "Nicotine is not addictive," or Merck saying "Vioxx is safe." Sure, the U.S. — which needs about $2 trillion more in loans just to continue its bailout charade — is going to insist it will pay back the money. But how can it? With an economic depression now underway, and the import / export trade imbalance at dangerous levels, and the expense of fighting two wars hanging over the American Empire like a two-ton lead weight, the only person who believes the U.S. is a good credit risk is an insane person.
Buying U.S. debt is no doubt one of the dumbest things any investor could ever do, short of just pouring gasoline on dollar bills and lighting them up (which would actually help the Fed because it would slightly reduce the money supply).
Note carefully that what Madoff was arrested for (ripping off investors by running a ponzi scheme), the U.S. Treasury is pursuing as official policy! U.S. Treasury Bills are, in fact, a classic example of ponzi scheme mechanics: The only way the early investors get paid is if NEW investors can be suckered into the scheme in order to bring new money to the table! And when Obama says the U.S. is a safe investment, it echoes the words of Madoff himself who insisted that his own "investment brokerage" was a safe place for investors, too!
It is now obvious to every intelligent person familiar with the situation that the U.S. will default on its debt in some fashion, either by declaring a default or by paying off the debt with worthless hyper-inflated currency, which is much the same as declaring a default. The "one world currency" gang will then step in and exploit the crisis to seize control over the global money supply, and the U.S. dollar will be traded in (at pennies on the dollar) for some other global currency that’s once again controlled by the global elite.
Don’t be suckered into the U.S. dollar ponzi scheme
The only way to avoid losing your wealth during this transition is to convert your dollars to something real. Trade your dollars for gold, silver, land, storable food, seeds, tools, water filters or other things that hold value. The dollars you do not convert will be confiscated in one way or another, either through rising taxation or theft via new money creation.
Based on the way things are headed right now, I fully expect to see Americans rioting in the streets at some point in the next few years when the real pain of the bailout money fiasco starts to be felt by Joe Public. There are things you need to do in order to prepare for that, and I’ll write more about those topics here on CounterThink as events unfold.