"To most of us nothing is so invisible as an unpleasant truth. Though it is held before our eyes, pushed under our noses, rammed down our throats--we know it not."
-- Eric Hoffer (1902-1983) American author, philosopher, awarded Presidential Medal of Freedom. If something smells funny then that is an indication that there is something wrong with something you are not seeing. Wake up, and look deeper.
CNBC reports "The New York Fed is refusing to tell investigators how many billions of dollars it shipped to Iraq during the early days of the US invasion there, the special inspector general for Iraq reconstruction told CNBC Tuesday."
In July 2009, Congressman Henry Waxman stated: "In a 13 month period from May 2003 to June 2004, the Federal Reserve sent nearly $12 billion in cash, mainly in $100 bills from the United States to Iraq. To do that, the Federal Reserve Bank in New York had to pack 281 million individual bills ... onto wooden pallets to be shipped to Iraq. The cash weighed more than 363 tons and was loaded onto C-130 cargo planes to be flown into Baghdad..."
"There's just way too much leverage and way too much risk-taking, with other people's money. I know a lot of my friends on Wall Street will hate my saying this, but the Glass Steagall thing or something like it wasn't a bad thing. In other words, a bank should be a bank. Investment bankers should be investment bankers. Investment bankers serve a purpose, raising capital and whatever, but i think today, and i know a lot of people won't like hearing this, what's going on today, i think we're going back in the same trap, and i will tell you that very few people understood how toxic and how risky those derivatives were. CDS were extremely risky the way they were used, and you look at Wall Street and you say, hey, they did it, but then you can't really blame the Wall Street guys. You can't blame a tiger. If you take a fierce man-eating tiger and put him in with a lot of sheep, you can't blame the tiger for eating the sheep. And that's the nature of the tiger. And that's the nature of Wall Street. I'm not saying they're bad but that's their nature, and the government should regulate finance."
The Covid-19 Dominoes Fall: The World Is Insolvent
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To understand why the financial dominoes toppled by the Covid-19 pandemic
lead to global insolvency, let’s start with a household example. The point
of thi...
Collective Liberty vs Individual Freedom
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Collective Liberty vs Individual Freedom
Silver Shield MiniMintage
https://www.goldenstatemint.com/Silver-shield-collection/ Silver Shield
Group MicroMi...
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