| oct 24 2008 | | Quadrillion | Yeah I know it is a number completely incomprehensible. However it is important to your very survival. It is the size of the derivatives market or casino. New York University Professor Nouriel Roubini said. Hundreds of hedge funds will fail. He is another source hinting at an enforced 'bank holiday.' Poor old Italian Prime Minister Berlusconi caused a panic when on Oct. 10, he reported world leaders were discussing shutting down global financial exchanges, and then saying he didn't mean it. Group of Seven policy makers have stopped short of market suspensions.
Hedge fund sell offs are contributing to the fall in gold. Does it make any sense that in the most turbulent times any of us have lived through, the time tested safe haven is collapsing. no. doesn't make sense to me either. As usual I suggest you follow the money to see who would gain from gold price suppression. The President's Plunge Protection Team are manipulating the loudly trumpeted American Free Markets. Like a ball pushed under water, it will soar when they have to let go.
Bubbles Greenspan said he was shocked at the breakdown in U.S. credit markets. I'm shocked, he's shocked! Him and his gang of thieves deliberately dismantled and prevented regulatory legislation and set the conditions for the biggest robbery by the rich at the expense of the world's tax payers. Debts they or their children will never pay off, even while their standard of living is crushed.
Where do we stand now? Well forget all attempts at government intervention, the numbers are just too big. That's not to say they won't try because one, it ain't their money and two, it goes straight into the pockets of their masters. The favoured nine banks are now enjoying protected status as institutions too big to fail. Not that you will make money investing in these banks. Their stock will still go down, even as their owners reap huge rewards.But the more they inflate the worse it gets for you and me.
If you want to know the results of inflation in modern days Zimbabwe is there as an example for us all. Look at Iceland, we have countries going broke taking down investments from other countries. These are examples of what goes wrong when we allow crooks to run the system. First Zimbabwe, now Belarus has joined Hungary, Ukraine and Pakistan requiring an IMF bail-out. Argentina risks defaulting for the second time this decade. In the mean time Argentina has taken over the private pension funds. What? I here you say. Yes your government will do whatever it takes to stay in power. We know that. In the past America and Britain have made holding gold illegal. Confiscation may happen again. Recently, Nancy Pelosi has stated that she wants to tax Americans 401k pension funds with a one-time levy or even a levy on appreciation or contribution.
Should you resist your government? Well, be careful because rights to demonstrate have gone. Protesters at the Republican National Convention were charged with Terrorism. That's right. We are fast moving towards Fascist States, run by business, where the voter is considered only as a unit of consumption and productivity.
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