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Update on that classic economic-political use case; "You have two cows". Hard to joke when the stock market has lost over $2 Trill in one week, and neither the government or the Federal Banksters Reserve show any concern.  Obama's golf game, fund raising and vacation schedule will not miss a beat.  Cape Cod calls and Obama is there.  Bernake and the Banksters met today, with a stock market begging for him to print up some more free fuel.  Bernake decides to stick with the plan and go with the collapse of the USA and the Dollar as scheduled. GOLD today is over $1780 /oz.  It's value in dollars has risen over $120 /oz since the raising of the debt limit to near $17 Trillion. The stock market melted down yesterday, crashing through key support barriers … shattering the confidence of millions of individual investors … and prompting most - who had been trying to turn a blind eye to the carnage - to start heading for the hills. Yesterday, Aug 9 2011 was the worst trading day since December of 2008. Just since the market began falling on July 26th, more than $7.8 trillion in equity has now been erased! Even though the Banksters are flush with $16.1 Trill in Federal Bankster Reserve coupons (GAO Audit of 2009-2010 Bankster books), the market can't seem to sort things out. And Banks stocks got hit hardest of all in yesterdays crash: US Bancorp and Wells Fargo were both down 9%. Huntington Bancshares and JP Morgan Chase declined 8.5% and 9.4% respectively. Fifth Third Bankcorp fell 11.4% and Capital One fell 12.08%. Regions Bank dropped 13.5% and SunTrust lost 13.9% of its value. Saw a National Media special on S&P last night.  These clowns gave Enron, Worldcom, Lehman Brothers, Ireland, Greece and Iceland their highest ratings right up until the eve of their collapse.  And then there's those trillions in garbage mortgage securities and derivatives rated triple A right through the collapse of the World economy

Diigo is screwing up the URL AGAIN!!!!! WTF!!! The correct title is "Larry Summers and the Secret "End-Game" Memo :: http://goo.gl/wDhDhL From the marbux treasure trove of truth we have financial expert Greg Palast describing how the Banksters engineered the 2008 World Financial Collapse. Greg names names, sighting an important 1997 memo signed by then Deputy Treasury Secretary, Larry Summers. The memo describes the Banksters "end game", and authorizes pulling the trigger on a process of forcing the world's financial institutions to accept the game of derivative roulette where high risk financial schemes and casino bets had to be accepted as "financial assets". Good story and as from everything I know, the absolute truth. Read it carefully because these same Banksters control the Obama Administration and seek to continue the great shakedown. One item of note is the recent resignation of Larry Summers as Obama nominee to head the Federal Reserve Bankster Cartel. Summers is one of the architects of the 2008 financial collapse, but is seen be Wall Street as hesitant to continue with the current Bernake flooding of the money markets with $85 Billion per month in freshly minted paper. Even the hint of rolling back the Bankster bailout a bit is enough to do in Summers. alternative Fed Banster Czar Janette Yellin promises to up the $85 Billion monthly bailout, and Wall Street celebrated with a near doubling of trades. We're so screwed! We started the "Socialism and the End of the American Dream" Diigo group in September of 2008 as an effort to understand the financial collapse. In this short article, Greg Palast summarizes the story and places the important facts on the table for all to see. Pray with me for his health and safety. excerpt: "The year was 1997.  US Treasury Secretary Robert Rubin was pushing hard to de-regulate banks.  That required, first, repeal of the Glass-Steagall Act to dismantle the barrier between commercial ba

Related link: Summers Withdraws From Consideration for Fed Chairmanship, http://www.bloomberg.com/news/2013-09-15/obama-said-he-accepted-summers-decision-to-withdraw-his-name.html

From the marbux treasure trove of truth we have financial expert Greg Palast describing how the Banksters engineered the 2008 World Financial Collapse. Greg names names, sighting an important 1997 memo signed by then Deputy Treasury Secretary, Larry Summers. The memo describes the Banksters "end game", and authorizes pulling the trigger on a process of forcing the world's financial institutions to accept the game of derivative roulette where high risk financial schemes and casino bets had to be accepted as "financial assets". Good story and as from everything I know, the absolute truth. Read it carefully because these same Banksters control the Obama Administration and seek to continue the great shakedown. One item of note is the recent resignation of Larry Summers as Obama nominee to head the Federal Reserve Bankster Cartel. Summers is one of the architects of the 2008 financial collapse, but is seen be Wall Street as hesitant to continue with the current Bernake flooding of the money markets with $85 Billion per month in freshly minted paper. Even the hint of rolling back the Bankster bailout a bit is enough to do in Summers. alternative Fed Banster Czar Janette Yellin promises to up the $85 Billion monthly bailout, and Wall Street celebrated with a near doubling of trades. We're so screwed! We started the "Socialism and the End of the American Dream" Diigo group in September of 2008 as an effort to understand the financial collapse. In this short article, Greg Palast summarizes the story and places the important facts on the table for all to see. Pray with me for his health and safety. excerpt: "The year was 1997.  US Treasury Secretary Robert Rubin was pushing hard to de-regulate banks.  That required, first, repeal of the Glass-Steagall Act to dismantle the barrier between commercial banks and investment banks.  It was like replacing bank vaults with roulette wheels. Second, the banks wanted the right to play a new high-risk game:  "d

Incredible must read for all Americans. excerpt: By the end of March, Barack Obama's administration will face its destiny, its Brutus a pawn of the fates. In Jimmy Carter's presidency, the Wall Street Journal editorialized about "Ratcheting to Ruin." The title derived from the fact that each cycle high in unemployment was higher than previous ones, and each cycle high in inflation was also. "Stagflation" was the neologism coined to describe what up until then was believed to be impossible in the Keynesian world. This period ushered in a new era in both politics and economics. Carter was replaced by Reagan, and Keynes was replaced by Friedman. Thirty years later, Keynes is back in vogue, Obama has ascended to the White House, and times are reminiscent of the Carter era. The economy is awful. Fear and dissatisfaction prevail. Politicians are held in contempt. There is one major difference -- Carter did not face an "ides of March" event. ..... The problem is bigger than the numbers above might suggest. Budget forecasts show that the problem increases over time. In addition, 40% of existing debt matures in the next year. That means $2.8 trillion of debt has to be refinanced. The Treasury must sell on average $90 billion of debt a week! In five weeks, we need to sell $450 billion. That is equal to the largest full-year deficit in history, at least until Obama's first year. There are no plans to curb spending or cut deficits. President Obama just increased the debt ceiling by $1.9 trillion. To outsiders, we appear like a banana republic with ICBMs. Does anyone seriously believe that funding based on "the kindness of strangers" is workable much longer? ..... If Bernanke stops QE, he fulfills his role as an independent central banker. Presumably, that action stops the decline in the dollar and reduces the risk of future inflation. It was the course that Paul Volcker chose in the late 1970s. Volcker's action was bold, highly controversial, and highly criticized. Vol