http://www.thesanitycheck.com/BobsSanityCheckBlog/tabid/56/EntryID/761/Default.aspx">Bob O'Brien's Sanity Check Blog
I think the defining moment for me was when Bernanke responded to the question from Congress, as to whether the American people (and their elected representatives in Congress) would be told to whom all their tax dollars have been given or lent. That single word summed it up perfectly for me: "No."
Any illusions that the money trust in the US, that collection of bankers and hedge fund managers and industrialists who are the beneficiaries of the systematic looting of the Treasury under the current "emergency" measures, is going to do anything other than precisely whatever it likes, or is going to report to those being looted, was dispelled at that moment. Likewise, nobody has been able to articulate why the massive swindle at AIG continues to be subsidized by our tax dollars - but again, no reporting on where those dollars are going will be forthcoming.
Basically, the gloves are off and the banking establishment - the for-profit cartel of private bankers that is the Federal Reserve - refuses the most basic explanations of where our, and the next several generations' retirements, are going.
(snip)
So AIG sells insurance for which it has no collateral, thinly disguising it as credit default swaps, to those with no financial interest in the things being insured (which is illegal if insurance), and you and I get to pay those who bought the swaps and are now collecting big on the destruction of the market and the American way of life. Not a mention of simply making swaps illegal and calling them what they are - illegal insurance, which should be null and void. Nope. Instead, we get to pay out hundreds of billions, to Goldman and the Saudis and whomever else is fortunate enough to be a counterparty - but we can't know to whom the billions are being paid. Again. That's a secret.
I was thinking about how casual the disregard for the rule of law has become on Wall Street, and how confident the money trust is in our apathy and our absence of the will or the means to interfere with their schemes. And well they should be. As nothing has, and likely nothing will.
When I started writing about the naked short selling scam, and the underlying larceny that drove it, I predicted that it would ultimately destroy the engine of prosperity that is the US market system. My reasoning was simple - if you allow crooks to run the system, to take money without requiring that they deliver what they were paid for, you don't have a market, you have a giant fraud. And a system built upon a foundation of fraud isn't sustainable; eventually there are no more rubes to fleece. I also was vocal that while this started out as a penny stock fraud, it had grown to include small-cap companies, and that left unchecked, it would ultimately destroy the IBMs of the world just as surely as it has the countless small-caps. And here we are - the other day, the CFO of GE was forced to acknowledge that its stock is being deliberately manipulated down, however he had no choice but to simply ignore it and focus on the long term, as nobody was going to do anything to stop it. How remarkable is that? We've gone from where this was a penny stock issue, to where one of the largest multi-nationals in the world is being played...and there's nothing anyone is going to do about it.
(snip)
Their contempt for you is manifest in every action now, every day, as the looting moves out into the open. Oh, sure, there is plenty of hand wringing and table pounding by concerned politicians and the occasional journalist, however the point is that your money is being systematically stolen, and you can't do anything to stop it. Game over.
I used to believe that it was an information gap. That if I only articulated the problem with the right words, in the right forum, that exposure would be sufficient to drive those entrusted with protecting us to do their job. For a while I believed that inaction was a function of ignorance of the true issues, and that if only the correct explanation was put forth, that then a lightbulb would go off in the collective congressional head, and the problem would be corrected.
Now I know better. Patrick's site, DeepCapture.com, is read by every major news outlet on a regular basis, as is this site. It's not that the info isn't knowable or known. It's that nothing will ever be done to change it; not by those with the apparent power to do so. Because even that power is an illusion. As evidenced by the single word response to a demand for the most basic and obvious form of transparency in the largest landgrab of national wealth in history:
"No."
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