Word has it Team Fraud's top tools in Washington — Geithner and Bernanke — are meeting secretly with leading Congressional Democrats and Republicans, demanding they draft new legislation to bail out the trans-Atlantic banking system on an even larger scale than after the 2008 collapse of the fraud-riddled shadow banking system (the Derivatives Black Hole in these parts known as "Adam Smith's Leveraged Ponzi Scheme"). Apparently bent on proving themselves the spineless jellyfish type, these are the same two men who but mere days ago were claiming Europe has all the resources it needs to independently deal with its debt woes. Maybe someone should organize a clothing drive, that these closet cross-dressers have plenty to wear during the fast approaching collapse of the EMU?
In case these two dunces have not noticed the winds of change blowing in Washington, absent a convulsion commensurately bigger than 2008's, odds of a larger bailout swindle at this point are just about zero. Indeed, the U.S. House of Representatives Republican majority — a party dominated by British Tory clones — is a double curse to bailout junkies hooked on fraud who of late have been working their clown contingent in opposition to reinstatement of Glass-Steagall. Suddenly, the dominance of Democratic party co-sponsors to HR 1489 appears exceedingly foreboding come November.
Just as attempts to gain taxpayer backing in Europe via "fiscal integration" and "banking union" are doomed to fail in lockstep with failure of the fascist austerity regime imposed over the past few years, any attempt to put U.S. taxpayers on the hook to extend fantasy that, current debt burdens are sustainable likely could be met by a social explosion dwarfing anything seen over the interim. Indeed, the cities of New York and Washington could be virtually shut down. 100-1 opposition to 2008's TARP swindle only raises confidence that, dire consequence awaits any redux attempting to extend fantasy claiming the trans-Atlantic banking system in its current, insolvent state can be (and ought to be) "saved."
A panic-stricken, LTRO-like, overtly hyperinflationary fake probably is about all Team Fraud has to look forward to here, as the trans-Atlantic's central banks remain firmly committed to becoming just as hopelessly insolvent as the "banks" these institutions supposedly "regulate." Last week's ECB move to lower the quality of collateral it accepts with a wink and a smile to maintain appearances of the European banking system's solvency for some duration now reduced to but minutes is a trend we now might better expect to accelerate in a manner whose effect likewise will hasten the physical economy's utter collapse over months ahead. It is all these intellectually challenged pricks — slaves to the supremely corrupt rule of money dominating political policy for decades now — have left in their shriveling bag of tricks.
The will to punish holders of debt whose claims likely will soon meet a hyperinflationary deluge with no hope whatsoever of being taken back (unlike the deluge of the past few years whose "promise" has been its eventual unwind, something Team Fraud's "penetrating" media outlets conveniently fail to mention while pathetically whining for still more of the same) is a rising trend that, in no time likely will dwarf Volcker's devastation meted during his term as Fed chairman in the early 1980s. Bernanke's "Operation Twist" only serves to hasten this effect while having bought some months coercing capital into risk assets, that the banking system's solvency fantasy momentarily be sustained.
The rise of so-called "bond vigilantes" is set to prove the swan song of fools currently occupying the Federal Reserve and the U.S. Treasury. The shutdown of physical production capacity leading to unimaginable shortages in the most basic stuffs vital to sustaining life as we know it — this is hyperinflation, oh Wiemar people of new — all too likely will be the result of foolishness today's slaves to unanchored, valueless money accomplish via pending efforts to continue fantasy claiming a liquidity crisis, rather than the banking system's insolvency, demands the hyperinflationary flood sure to accompany a pending breakout of chaos in Europe, as German resistance to committing national suicide appears intractable.
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