This has been a topic that refuses to go away, every time I check the financial markets, turn on CNBC, listen to Glenn Beck, David Walker (GAO) or Lou Dobbs the message is always alarming. The most upbeat and positive commentators are now beginning to have a hard time with this issue, even after they paint the best economic picture they can to keep our hope alive in America the continual burden of "in your face" problems and bad news is widespread.
Jim Rogers is the latest hard hitter and brilliant economist to step forward and say "enough is enough" let the banks "fail." The Fed in his opinion has not only removed any and all consequences of their banking friends egregious criminal actions but has gone further and sweetened the deal with taxpayer printed money totalling in the hundreds of billions. This not only saved the big banks, but entitled the top brass at those institutions to keep their multi-million dollar bonuses, lucrative personal empires and guaranteed their future employment in the next generation of investing, banking and lending.
Rogers has called for the Federal Reserve to be abolished, and said that Bernanke was not elected by anyone but has taken matters upon himself to spend billions of taxpayer money... your money without your consent. Well how is it your money their taking? After all there is no one at your house or in your bank accounts right? Wrong! You are paying at the gas pump, you are paying through your property taxes, you are paying at the supermarket, and you are paying in your retirement accounts. Essentially they are stealing the value of your money by printing more of it as fast as they possibly can making it worth less under the basic principle of supply and demand.
Watch the video today it is yet another dire warning from a notable market expert and American investor concerned for the only thing left holding the middle class together in America... "The Almighty Dollar."
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