We know that the jerks who run our banking system are the dumbest people on earth. The Federal Reserve which works for Wall Street has been notoriously secretive. Bernanke promised to be less secretive but that was, as per usual, a total lie. He is very secretive. And so he was sued to release information which he pretended to do today: Bernanke missed signs of crisis – NY Daily News
“The odds are that the market will stabilize,” Fed Chairman Ben Bernanke told the committee in August 2007, according to the transcripts, which are released each year with a five-year lag.
William Poole, president of the Federal Reserve Bank of St. Louis, echoed his sentiments at the meeting, saying, “My own bet is that the financial market upset is not going to change fundamentally what’s going on in the real economy.”
And here is the minutes of that meeting which has so much information:
HAHAHA. They even were joking about things which are censored, I wonder what they found so funny? It was a discussion about how to choose who would run the operations, no? Probably mentions things we discuss about the Bilderberg gang and other operations. Anyways, it is so ‘sensitive’ we can’t see what they said because it would get us very pissed off, I am guessing. Oh, and there is no conspiracy here, is there? Har.
As for being clueless, there is no excuse. Here is my summation of the news back in October, 2007: Money Matters: More Wizards Of Finance Fall Off Cliff
And my correct analysis from August of that year when the clueless Federal Reserve geniuses were denying reality: Money Matters: Bush’s Speech Is Meaningless But Hu’s Speech Is Scary
And then this, what I wrote in the wake of the Fed Reserve meeting: Money Matters: What Lola Wants, Lola Gets…No More
This is so very much like the period right before the Great Depression. The big bankers, seeing nothing but losses in the future, cut and run. Countrywide sold off most of its stock right when the inside data showed there was no hope of any future at all in offering high-interest loans packaged with ‘teaser’ rates at the front. The mounting bankruptcies were obvious at the end of September, 2006, a year ago!
We know from history that if interest rates rise, housing collapses and recessions always follow interest rate rises. This time around, it was totally insane: after Bush took office, his buddy, Greenspan, dropped interest rates EVEN AS Bush cut taxes which everyone sane knew would drive our government back into deficits with a vengence. Greenspan should have raised rates in response to this irresponsible tax cutting but he did the opposite.
The liquidity crisis and the lending crisis are not due to technology nor is it caused by a shortage of money. It is due 100% to the inability of the West to take on much more debt because we are now at the point, we can’t pay for even the interest rates, forget the principal! Indeed: many loans the West holds have to be ‘turned over’ when they expire due to no one paying off the principal and this mountain of debts has grown tremendously and the earlier foothills are being ‘reset’ and the West wants this at cheap interest rates and the West wants ASIA to do this…at cheap rates. But China has closed its window! And Japan can’t afford to do this for everyone, 100%. So we have a banking crisis from hell. And the fake cheer from idiots like Mr. Karlgaard looks stupid in light of all this.
The Federal Reserve was engineered by JP Morgan himself and his buddies very secretively and it is secretly run and the participants belong to more than one secret organization all of whom pretend there are no secrets, no societies run by themselves in total secrecy and no collusion from rich owners of media here to hide all of this from us.
Meanwhile, the financial system lies in ruins. The US has the lowest sovereign wealth ranking in the entire planet earth and these same jerks want us to go to war with not only most of the Middle East and much of Africa but also Russia and China, too. These people are dangerous, as dangerous as deranged killers with NRA-endorsed firearms running wild in our neighborhoods. Only they have nuclear bombs to terrorize us with as well as assassin drones.
And we merrily sail into rough seas with no captains, only pirates at the helm of the USS Democracy. And yes, I did vote in the last election and voted for people who are dangerous because the opposing party is insanely dangerous to me, some great choices there! Nope.
End the secrecy! Stop the magical banking bosses and replace them with people who can accurately predict future events.
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