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Guest Post: "Whatever It Takes"

Tyler Durden's picture


Submitted by Mike Krieger of KAM LP

Whatever it Takes

Oh the time will come up
When the winds will stop
And the breeze will cease to be breathin'
Like the stillness in the wind
Before the hurricane begins
The hour that the ship comes in.

And the sea will split
And the ships will hit
And the sands on the shoreline will be shaking
Then the tide will sound
And the waves will pound
And the morning will be breaking...

Oh the foes will rise
With the sleep still in their eyes
And they'll jerk from their beds and think they're dreamin'
But they'll pinch themselves and squeal
And they’ll know that it's for real
The hour that the ship comes in.

Then they'll raise their hands
Sayin' we'll meet all your demands
But we'll shout from the bow your days are numbered
- Bob Dylan, “When the Ship Comes In”

They’re selling postcards of the hanging
They’re painting the passports brown
The beauty parlor is filled with sailors
The circus is in town
Here comes the blind commissioner
They’ve got him in a trance
One hand is tied to the tight-rope walker
The other is in his pants
And the riot squad they’re restless
They need somewhere to go
As Lady and I look out tonight
From Desolation Row…
Now at midnight all the agents
And the superhuman crew
Come out and round up everyone
That knows more than they do
Then they bring them to the factory
Where the heart-attack machine
Is strapped across their shoulders
And then the kerosene
Is brought down from the castles
By insurance men who go
Check to see that nobody is escaping
To Desolation Row
Praise be to Nero’s Neptune
The Titanic sails at dawn
And everybody’s shouting
“Which Side Are You On?”
- Bob Dylan, “Desolation Row”

Whatever it Takes

Of the many lamentable things to have emerged from the financial crisis and the subsequent rape of the American public by Wall Street and their employees in Washington D.C. has been the emergence of catchy phrases used by the criminal elite class to sell us on our own servitude.  We know all about that horrid “Too Big To Fail” gimmick, the entire concept of which is anti-freedom and anti-capitalism but right up there on the list of irritating and dangerous statements is the constant use by central planners like The Bernank and Tiny Timmy Geithner that they would do “whatever it takes.”  Ah, but what does this mean.  Whatever it takes.  Let’s think about this for a second.  Whatever it takes to achieve what exactly?  They say to boost the economy but in reality when you look at what they really mean is “whatever it takes” to PRESERVE THE STATUS QUO.  A status quo that has not worked for the vast majority of Americans for decades and will not work for 99.9% of us going forward.  Key to preserving the status quo is the preservation of the financial and monetary system as it exists today. 

During 2008, traitors like Hank Paulson were able to con most of us by saying that we risked a destruction of the financial system as an excuse to give the banksters and their allies a blank check.  The con wasn’t in the notion that the financial system risked implosion as I believe that statement was most likely true.  The con was that since most Americans don’t have a clue how the financial system works they merely became scared and reflexively agreed in their own minds that “well of course the financial system must be saved.”  I on the other hand argue that the financial system is a ponzi scheme that enriches only the three enshrined parasite classes that dominate America today.  The TBTF Wall Street banks, the military industrial complex and the politicians and lobbyists in D.C. that line their pockets.  Everyone else gets sucked dry.  I have spent the last three years of my life writing about this so that people understand when the next major crisis happens who is to blame and more importantly I want to instill in people the courage to look outside of this immoral money system to something that can move us forward when this one gets dismantled.  I do not claim to have the answers I am just trying to get people to ask the right questions and get educated on how things operate.  We the People must own the debate or it will own us. 

Whether or not you agree with me that the financial system is not worth saving, the other key point I try to hammer home is that it doesn’t matter.  “Whatever it takes” has already failed.  This creates an extremely dangerous scenario became I am not convinced these clowns have a Plan B.  Just the statement ”whatever it takes” implies that these guys believe with 100% confidence that they can save the system.  So here we are, basically back in recession in the West and there is no Plan B.  What most people in the markets fail to understand is that the secular bear forces or what we can call a Kondratieff Winter has remained firmly in place this entire time.  All you need to do is look at the Dow Industrials in terms of gold. 

Dow/Gold Chart from 2003

As you can see from the chart above the downtrend of stock prices in real terms is completely intact and they have barely bounced since the low in March 2009.  In fact, although stocks did surge in real terms from the low in 2009 for the year as a whole they were still down 5% in real terms.  Even in 2009!  Then last year, stocks were 14% lower in terms of gold.  Finally, despite a brief rally early in 2011, stocks in terms of gold are down another 6% ytd.  The point is that “whatever is takes” has been as effective as me saying I am going to do “whatever it takes” to never die.  I can go grab a cracker jacks box and stand on it in the middle of the town square claiming I will do whatever it takes to prevent my death, yet I can promise you one thing; I will eventually drop dead.         

Judd Gregg       

Judd Gregg is an utter disgrace to Congress, the United States of America and humanity generally.  In case you weren’t aware, the former Senator from the state whose motto is “Live Free of Die” has signed on to work for the squid.  Yep, that’s right Goldman Sachs has rewarded Gregg for steadfast defense of the Federal Reserve and its bankster cabal by hiring him as a “international advisor” to the bank.  From the mouth of the squid: "Judd Gregg's experience and insight will contribute significantly to our firm and our continuing focus on supporting economic growth," said Lloyd Blankfein, Goldman's chairman and CEO.  This is how you get paid in America in 2011.  Story is here:

It’s funny because while many people thought Gregg was saying a lot of the right things a couple of years ago in the heat of the crisis I never trusted him and thought he was the epitome of a “fake conservative.”  He would obsessively and irrationally defend the “independence of the Fed.”  Now we know why.  He was doing as he was told to get a payout later.  I don’t know how this man wakes up in the morning and looks at himself in the mirror.  If there is any justice in the universe he is going to get it.  In this life or the next.  It matters not.

The SEC Just Killed Hedge Funds

Am I the only one that saw this yesterday and thinks it is huge?  “SEC commissioners voted 5-0 today to adopt a tracking system for firms that buy and sell at least 2 million shares a day or meet other volume standards. The system, initially proposed three weeks before the May 2010 crash that temporarily erased $862 billion in U.S. share value, aims to help guard against market abuse and manipulation.”  “The system, which would monitor firms that execute $20 million of equities a day or$200 million in a month, gives the SEC access to non-public data maintained by the traders’ broker-dealers, who would have to provide it upon request.  After the rule takes effect in about two months, about 400 large traders would have to identify themselves within 60 days and broker-dealers would have to begin maintaining transaction records within seven months, according to the SEC.”  Full article is here:

I think this is absolutely huge on many, many levels.  First of all who wants to run a hedge fund in this environment?  You would almost have to be crazy.  They are drawing the line at $20 million trades a day?  That is supposed to be systemic?  No chance.  They just want to be able to see your every move.  Notice the trend of big time managers calling it quits and opening family offices instead.  That is the wave of the future and this will accelerate that process in a major way.  I happen to think George Soros is one of the most disingenuous people I have ever come across (just like Uncle Warren Buffet, both of whom want to shut down capitalism AFTER they make their fortunes like typical monopolists) but he is no fool.  Soros has decided to move to a family office structure as stated in their recent letter “We are writing to inform you of an important new development relating to regulations recently announced by the US Securities and Exchange Commission. As you may know, the new regulations will require certain private investment advisers to register with the SEC by March 2012. An exception to this requirement is available if an organization operates as a family office…An unfortunate consequence of these new circumstances is that we will no longer be able to manage assets for anyone other than a family client as defined under the regulations.”  Full letter is here:

Besides the effect mentioned above I think this will also lead to a flight of capital outside of financial assets first and then outside of the United States second.  This will be a major unintended consequence and it will cause huge issues.  I mean think about it.  If you are worth $100 million what are you going to do when you see this.  You will want to pull a lot of money out of your hedge fund investments and look to deploy it overseas in real assets.  You will go to Uruguay and say oh I’ll take that farm.  You will go to Zurich and say oh I will take that apartment.  You will get it as far away from the SEC and the maniacs running the United States as possible.  Of course you will also buy a lot of physical gold and silver. 

Back to Babylon

This is the last time you will hear from me for a while.  I will be making my way back to Babylon (NYC) next week for the first time since I moved out to Colorado.  I am have an extremely busy schedule and I really look forward to catching up with folks in the business I haven’t seen in a long time.  It will be great to be back and get a pulse on where people’s heads are at and just have some good old fashioned summer fun.  I will of course report on what I learn when I get back.  In the meantime…Raise Da Debt Ceiling!

See ya in few weeks.

Peace and wisdom,


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Thu, 07/28/2011 - 12:47 | 1501476 pton09
pton09's picture

This clown voted for Obama and now he tries to act like an econ guru?

Why post his shit all the time?  Schiff, Rogers, Faber etc are far superior but they don't get much air time and this yuppy loser does? 

Nothing insightful

Thu, 07/28/2011 - 13:11 | 1501533 wang (not verified)
wang's picture

"Why do you post this shit all the time?"


nice knowing you pton09 - I suspect a Pton torpedo is headed towards your ZH account - it's not nice to be critical of your host in mixed company - if you don't like the content send Tyler an email but don't call him out after all this is the fight club and he makes the rules

Thu, 07/28/2011 - 13:35 | 1501609 Fukushima Sam
Fukushima Sam's picture

It's okay to call Tyler out.  Like you said, it is fight club.  Tyler needs to punch and be punched like the rest of us.

Thu, 07/28/2011 - 14:25 | 1501756 TSA Thug
TSA Thug's picture

Guest Posters are not Tylers. The whole paradigm changed. Guests are now considered Cornelius(non commercial) and Travus(commercial snake-oil sales) not Tylers so they are fair game.

Insult the Tyler and you will get a real pat down.(snaps his blue examination gloves and grins).

If you have been paying attention, the website is changing. Where is Marla? Beware space monkey's the book ended by the narrator's elimination of Tyler, allowing him to decide for himself how to determine his freedom.


--You WILL Obey!

Thu, 07/28/2011 - 15:09 | 1501896 Rodent Freikorps
Rodent Freikorps's picture

Don't you just hate when you are getting cavity searched and you notice a hand on each hip?

Thu, 07/28/2011 - 15:39 | 1501973 eureka
eureka's picture

RE  "If you are worth $100 million what are you going to do when you see this..." - AND -

RE  "getting cavity searched"

If you are worth $100 million, are you reading zerohedge? - and or posting comments on zerohedge?

If zerohedge is a "club"/community, it is, based on op and down arrow clicks, as evenly split and splintered and thus as helpless and cavernous as the rest of US society to do anything but observe from an already stiffened position - wherefore it hurts when the humiliating poke comes - which could all be avoided by simply taking a hammer to the non-melting-pot conglomerate, separating it into a number of independent nation states, each based on its own particular financial ideology - however, that might be too much freedom to handle and too much real examination of each ideology's inner capacity.

Thu, 07/28/2011 - 14:21 | 1501744 Enceladus
Enceladus's picture

Submitted by Mike Krieger of KAM LP


He wasn't calling Tyler out...

Thu, 07/28/2011 - 15:32 | 1501956 wang (not verified)
wang's picture

I believe that the point of Ptons comment was that Krieger's article should not even see the light of day on the ZH site - and that is tantamount to calling out the editor.

Thu, 07/28/2011 - 13:19 | 1501563 DogSlime
DogSlime's picture

"This clown voted for Obama and now he tries to act like an econ guru?"

Ermmm... so by your logic if someone voted for Obama then any economic opinion they have is invalid?

Obama has certainly turned out to be piss-weak, but would McCain have been any better at this stage?

Seems like almost every politician these days is a shower of shit.  Would you therefore only respect someone's opinion if they refused to vote?




Thu, 07/28/2011 - 13:29 | 1501593 XenoFrog
XenoFrog's picture

"if someone voted for Obama then any economic opinion they have is invalid?"

Not necessarily but it is a huge red flag that they're probably a keynsian douchebag.

Thu, 07/28/2011 - 13:38 | 1501618 MobBarley
MobBarley's picture

Awww I voted for Obama out of White Guilt and fear of that crazy guy they ran against him.

I'd be a tea partier if I wasn't so incredibly cynical about everything now.

I was telling everyone I could back in 2004 that Bush and Greenspan where going on a

crazy bank loan/housing inflation spree to falsely inflate a dying economy

and that the results would end badly, and that it served the NWO plan

to administrate an economically poor and divided world. Poor people

can be beaten (and killed) by police without fear of reprisal or outcry.


I think this is a setup to allow Obama to invoke Amendment 14 so

he can print free money and allow foodstamp to purchase Liquor

and Cigarettes and Pampers and Flavour Red Kool Aid.



Thu, 07/28/2011 - 14:05 | 1501703 Andy_Jackson_Jihad
Andy_Jackson_Jihad's picture

No purple-drank and waddymellons?  He's such an uncle tom sell-out.

Thu, 07/28/2011 - 13:39 | 1501619 DogSlime
DogSlime's picture

I would say possibly a keynsian douchebag.

Obama got a lot of mileage out of Bush's unpopularity.  The bailouts happened on Bush's watch (but would have happened under Obama too) and the Iraq stuff had pissed a lot of people off.

I don't believe everyone who voted for Obama did so because they were in agreement with his economic opinions.  Come to think of it, did he really make his position properly clear on where he stood regarding the economy before he was elected?  Shit... aside from the healthcare thing, did he make his position clear on anything?

Thu, 07/28/2011 - 14:56 | 1501858 WallStreetClass...'s picture

Oh, just STFU. So, by this logic, if you voted for the senile McCain and the trig-retarded Alaskan inbred, you have a valid economic opinion? Some of you people are so fukin stupid, I literally want to punch the stupidity out of you. Shyte!

Thu, 07/28/2011 - 13:34 | 1501600 Manthong
Manthong's picture

"if someone voted for Obama then any economic opinion they have is invalid?"



Thu, 07/28/2011 - 13:41 | 1501628 MobBarley
MobBarley's picture

You do know that many Republican CEO's voted for Obama?


It happened at Bohemian Grove, where your next President (Michelle Bachmann) is chosen for you.


Thu, 07/28/2011 - 13:52 | 1501666 pan-the-ist
pan-the-ist's picture

Funniest thing I've read all day.  I'm not sure what the Joke was, but Bachmann is always the punchline.

Thu, 07/28/2011 - 14:07 | 1501711 ZeroAffect
ZeroAffect's picture

So, according to you, Michelle Bachmann has her Grove on? Got any back-up info then let's see it.

Thu, 07/28/2011 - 16:15 | 1502081 Manthong
Manthong's picture

Obama qualifications


1.    Very, very thin political resume

2.    Beneficiary of public largesse for education

3.    Never had an executive job in the private sector

4.    Advocated for sub-sub-prime home buyers

5.    Advocated for skyrocketing electricity prices via synthetic bankster market

6.    Close friend of Jeremiah “God Damn America” Wright

7.    Friend and associate of Bill “I Didn’t Bomb Enough” Ayers

8.    Muslim British Colonial Subject Alcoholic Killer father

9.    Known “Community Organizer”

WTF else do you do need to invalidate the judgment of some people?

I don’t like McCain at all but he was the lesser of two evils.

At least with McCain we would not have gotten Obamacare and likely a little less debt.

Thu, 07/28/2011 - 13:36 | 1501611 el Gallinazo
el Gallinazo's picture

Obama was a briliant move on the part of the bankstas.  Particularly his half black ethnic heritage.  McCann would have never gotten half this shit through Congress that Obama did.  There are still some well meaning prgressives that haven't figured out that he is a fascist crony corporatist in sheep's clothes.  Whichever mainstream candidate one votes for president is irrelevnt.  You think the Owners are careless enough not to keep all their bases covered?  Look at the shithead caviar socialists in Europe: G Pap, Blair, Socretes, Zapatero, etc.  All bought and paid for by the Owners.

Thu, 07/28/2011 - 14:21 | 1501742 gorillaonyourback
gorillaonyourback's picture

very well said,,,,,,its sad more people dont see through all this shit,  all one has to do is look at argentina, greece, ireland, and a plethora of other examples past present and to come.  it is so fuckin sad that it has come to this, america will fall too.  only hope is our population has enough balls to fight for this country in the spirit of Andrew Jackson.  Andrew Jackson was by no means perfect but he did do one thing right.   "Rout you out, i will, you International Mother Fuckers"  that was a direct quote,,,,,,,,,right?

Thu, 07/28/2011 - 15:01 | 1501874 WallStreetClass...'s picture

woot! up vote

Thu, 07/28/2011 - 14:09 | 1501716 macholatte
macholatte's picture

....but would McCain have been any better ...


and there you have it.

Garbage from the left and garbage from the right is still garbage.


"We are not content with negative obedience, nor even with the most abject submission. When finally you surrender to us, it must be of your own free will. We do not destroy the heretic because he resists us; so long as he resists us we never destroy him. We convert him, we capture his inner mind, we reshape him. We burn all evil and all illusion out of him; we bring him over to our side, not in appearance, but genuinely, heart and soul. We make him one of ourselves before we kill him. It is intolerable to us that an erroneous thought should exist anywhere in the world, however secret and powerless it may be. Even in the instance of death we cannot permit any deviation . . . we make the brain perfect before we blow it out."

-- George Orwell "1984"


Thu, 07/28/2011 - 16:31 | 1502189 Esso
Esso's picture

"Would you therefore only respect someone's opinion if they refused to vote?"

That's about the size of it.

You don't seriously think that in a country that won't allow you to decide what kind of lightbulb you're going to use, is going to let you decide who runs the country, do you?

A well medicated & dumbed-down populace, being necessary to the security of a Totalitarian State, the right of the sheople to pretend to vote shall not be infringed.

Thu, 07/28/2011 - 13:57 | 1501678 Sophist Economicus
Sophist Economicus's picture

"This is the last time you will hear from me for a while"

This is the best news I heard all day! 

Thu, 07/28/2011 - 16:30 | 1502137 RockyRacoon
RockyRacoon's picture

Lemme see if I get what Mike says above....   He accuses the SEC of possibly actually doing its job, and that's a bad thing?   Hedge funds might get some scrutiny -- oh, no!   My view:  Either make the SEC do what it's supposed to do or dissolve the thing.   If there is to be regulation, let it be fair, honest, and across the board, not the haphazard hodge-podge of gotcha regulation that has been the SEC's history.   Soros is hated and is driven from the hedge fund world, but... but... er, is that bad, or good?   I'm confused.   Oh!  I see.   Driving Soros out is OK, but driving Mike out is bad.   Somewhere there has to be some sanity.   Mike can't pick and choose the winners/losers.   That is exactly what the Fed has been accused of.   Come on!

Having absolutely no dog in the fight, I don't own even one paper "asset" other than the fiat currency in my pocket, I could really care less.   It's just the convoluted logic and warped values that prompt me to write (the author's as well as my own).

Thu, 07/28/2011 - 14:13 | 1501726 gorillaonyourback
gorillaonyourback's picture

nice dumbass comment, if anything critisize the guy for not understanding that there is no difference between elected democrats and republicans.  You are the problem within this fascist country, you bitch but have nuthin of value to say, only attacking your fellow financial slave.

wake up retard, this country is walking straight into a new world order where you will be controlled by the elite in this world, they will parade around so called dem and repubs with the sole purpose of keeping you fighting against each other over bullshit.


Thu, 07/28/2011 - 14:58 | 1501863 WallStreetClass...'s picture

right on dude, up vote. These left/right idiots is WHY we are this fkin situation in the first place.

Thu, 07/28/2011 - 12:49 | 1501480 KingdomKum
KingdomKum's picture


Thu, 07/28/2011 - 12:49 | 1501482 traderjoe
traderjoe's picture

The entire debt-celing debate is to scare the American sheeple further into debt-slavery. 

Sovereign governments do NOT have to borrow money. See the United States Note - the longest running paper currency of our nation - that is issued directly from the Treasury without debt and without interest. I haven't heard a single pundit on the MSM advocate a default and a replacement of the FRN. Every single one of them wish for, pray for a compromise that leaves our debt intact. 

The debt is odious. The national interest is the grift, and debt-slavery of the people is the goal.

The people must repudiate. 

Thu, 07/28/2011 - 12:59 | 1501508 Spastica Rex
Spastica Rex's picture


Grifterment of the banks, by the banks, for the banks.

Thu, 07/28/2011 - 14:40 | 1501795 MachoMan
MachoMan's picture

Be careful what you wish for...  while repudiation is a reasonable alternative, the power needed for repudiation will not likely be given up without a fight...  and, presently, giving any additional powers to people who have proven time and again they they should be given no power...  is a dangerous thing and should be approached with the utmost of caution.


Thu, 07/28/2011 - 13:11 | 1501536 DosZap
DosZap's picture


Dead on, my argument for a long time.

Why pay for something we can do for little to nothing?.

Kennedy did this on his own, and it got him dead.Maybe that's the reason...........we do not hear more about it.

Thu, 07/28/2011 - 14:45 | 1501780 Manthong
Manthong's picture

Silver was more volatile than anybody had imagined.


Oswald could have used silver bullets to better make the point.

Thu, 07/28/2011 - 13:13 | 1501538 DosZap
DosZap's picture


Thu, 07/28/2011 - 13:14 | 1501547 Spirit Of Truth
Spirit Of Truth's picture


What we need is some good ol' fashioned pitchforks and torches protests on Wall Street. Then fire the banksters:

And repudiate the debt:

Thu, 07/28/2011 - 13:24 | 1501579 baby_BLYTHE
baby_BLYTHE's picture


We can start by canceling our $1.6 trillion the FED owns by Simply giving them the finger and walking away.

If this bankrupts them or motivates Ben to violently draw down the money supply to intentionally cause a Depression (Like Nicholas Biddle did when Andrew Jackson vetoed the extension of the Second Bank's charter), so be it.

Life in American will be better without a Central Bank

Thu, 07/28/2011 - 13:37 | 1501616 slewie the pi-rat
slewie the pi-rat's picture

hey, b_B!

We can start by canceling our $1.6 trillion the FED owns by Simply giving them the finger and walking away.

i keep hoping we'll some details of how this action might proceed.  none yet?  [i'm keeping my fingerZ flexed!]

Thu, 07/28/2011 - 13:40 | 1501626 Silver Dreamer
Silver Dreamer's picture

What is this, kindergarten?  The plan is simple.  We tell them to fuck off and stop making the interest payments.

Thu, 07/28/2011 - 15:11 | 1501906 slewie the pi-rat
slewie the pi-rat's picture

no.  your kindergarten class is across the hall.

Thu, 07/28/2011 - 14:55 | 1501844 Spirit Of Truth
Spirit Of Truth's picture

Seems to be the world is run amok w/Nicholas Biddles in this day and age:

Max Keiser has offered a solution:

Thu, 07/28/2011 - 14:27 | 1501766 newbee
newbee's picture

" Federal Reserve Notes are backed by the assets of the Federal Reserve Banks, which serve as collateral under Federal Reserve Act Section 16. These assets are generally Treasuries which have been purchased by the Federal Reserve through its Federal Open Market Committee in a process called monetizing the debt. "

Thu, 07/28/2011 - 14:36 | 1501785 SRV - ES339
SRV - ES339's picture

I thought Sarah said we should refudiate?

Thu, 07/28/2011 - 14:43 | 1501810 Mad Cow
Mad Cow's picture

Thanks traderjoe! Well said. This should be discussion #1 on ZH.

Thu, 07/28/2011 - 12:49 | 1501487 TSA Thug
TSA Thug's picture

Maybe the "Guest" posts should show a little more respect for the very mechanics that finance their or their family members lifestyle.

In other words: live by the sword, die by the sword but do NOT insult the sword.


--You WILL Obey!

Thu, 07/28/2011 - 13:01 | 1501494 TruthInSunshine
TruthInSunshine's picture

I had a dream last night that blends into this article.

Some may find it impossible, but I can't help that.


What if a credit rating default was being initiated intentionally, bitchez?

In other words, what if The Bernank really does believe a hike in rates is warranted to stem off building inflationary pressures, and the incumbent politicians desperately want to see inflation tamped down heading into the 2012 Election?

Despite criticism from the likes of Paul 'Let's Build A Money Hole, As A Shovel Ready Project, And Stuff It Full of Money' Krugman & William 'iPad2s are delicious and nutritious' Dudley, The Bernank has plausible deniability for interest rate hikes brought about by credit downgrades from completely competent (/sarc) credit rating agencies like Standard & Poors.

It's a thought, bitchez.

Thu, 07/28/2011 - 13:21 | 1501569 Thisson
Thisson's picture

Not going to happen.  Central banks do not fear inflation; they can solve that in "15 minutes" if it gets too far.  What they fear is deflation, because deflation is the destruction of debt, and debt is their asset and our liability! 

Thu, 07/28/2011 - 13:23 | 1501576 jomama
jomama's picture

with all the theater around this latest debt ceiling extension, it wouldn't surprise me one bit it's no accident this time.

Thu, 07/28/2011 - 13:35 | 1501606 MassDecep
MassDecep's picture

Whatever happens, is intentional. That,,you can take to the Bank.

Thu, 07/28/2011 - 13:46 | 1501640 Silver Dreamer
Silver Dreamer's picture

Any move by the banksters to allow further looting would not surprise me.  Who benefits most from higher interest rates after all, right?

Thu, 07/28/2011 - 14:22 | 1501745 GoinFawr
GoinFawr's picture

You're having dreams about this shit Truth? You need a break man. Can't say that you're going to get one, but ouch.

Thu, 07/28/2011 - 15:03 | 1501879 TruthInSunshine
TruthInSunshine's picture

It's sick, right?

I'm going to take a break soon, because this bullshit is starting to piss me off.

I'm a very reasonable and calm person. Really.

I can't promise that I would not  justabsolutely pummel The Bernank or William 'Eat Your Sawdust' Dudley if I had the chance to do so.

I know that's wouldn't resolve anything, but then again, some people really deserve to get an ass whoopin'.

Thu, 07/28/2011 - 16:36 | 1502213 RockyRacoon
RockyRacoon's picture

Got a fresh can right here.... who's got a P-38?

Thu, 07/28/2011 - 17:16 | 1502308 Esso
Esso's picture

"I know that's wouldn't resolve anything, but then again, some people really deserve to get an ass whoopin'."

What we need is a good deterrant. How about we round up the likes of bernanke, geithner, greenspan, blankfein, dimon, etc., and put them on those old-timey Roman slave ships, like in Ben Hur?

We could have live 24/7 video feeds on satellite & cable as they force them to row up & down the coast until they die.

"Row well and live, Bernank!"

"Ramming speed!"


Thu, 07/28/2011 - 12:57 | 1501501 r101958
r101958's picture

I agree with all of this except the 'raise da debt ceiling' part.

Thu, 07/28/2011 - 16:42 | 1502241 RockyRacoon
RockyRacoon's picture

The sooner you realize that the debt ceiling is a materially irrelevant concept the better off you'll be.

Thu, 07/28/2011 - 12:59 | 1501510 Rastadamus
Rastadamus's picture

Yes mon, vacate Babylon, for she is falling falling.......


Thu, 07/28/2011 - 16:16 | 1502114 ZeroAffect
ZeroAffect's picture

Modern day Babylon = NYC aka, FRBfNY

Thu, 07/28/2011 - 13:04 | 1501515 Dr. No
Dr. No's picture

Hank Paulson's con job was Illusion 101.  Watch the right and and you wont see what the left is doing.  The $800B TARP did its job. It created this illusion the tax payers were bailing out the banks as authorized by congress.  Voters got mad.  Political parties got even more polorized.  All of this was to mask the $2T increase of monetary base increase by the FED through purchases of toxic MBS and toxic shares of companies.  We all talk about TARP.  We do not talk about AIG.  This was by design.

Thu, 07/28/2011 - 13:21 | 1501573 JW n FL
JW n FL's picture

By accepting the Treasury post, Paulson is poised to take advantage of a tax loophole that allows government officials to defer capital gains taxes on assets they have to sell to avoid a conflict of interest, as long as the proceeds are reinvested in government securities or a broad array of mutual funds approved by the government within 60 days.

Technically, the tax kicks in once these replacement assets are sold, using the purchase price of the original assets as the cost basis, says Tom Ochsenschlager of the American Institute of Certified Public Accountants. But why sell when you can avoid the tax altogether?

"The idea is never to sell," says Robert Willens, the top tax and accounting analyst at Lehman Brothers. "If you're able to hold onto the replacement assets until your demise, you never have to pay it."

Thu, 07/28/2011 - 13:24 | 1501578 Fox Moulder
Fox Moulder's picture

"Most of us" weren't conned by Paulson. Volume of messages to CONgress greatly increased and ran over 90% against the TARP. He did con CONgress critters, but also helped spawn the Tea Party.


And yeah, the AIG CDS bailout went unnoticed by most.

Thu, 07/28/2011 - 13:44 | 1501635 Dr. No
Dr. No's picture

You confirm my point.  When everyone was calling their congressman, the FED was buying MBS at face value.  When Ma and Pa were yelling at the T.V. about TARP, the FED was injecting cash into AIG.  Congress took the heat.

Thu, 07/28/2011 - 21:59 | 1503006 ViewfromUnderth...
ViewfromUndertheBridge's picture

in  terms of Hank Paulson's "Con Job" and the behind the scenes criminality the script was written in the early 1970s by Felix Rohatyn of Lazard Freres when he held the same gun (failure of ITT causing systemic armageddon) to the head of the Attorney General of the United States and got the result he wanted for Hartford Insurance (the largest US merger in history at that time)...Nader and Jack Anderson smelt a rat...the AG shortly had to resign, the President later had to resign ... and Felix went on to greater things....until he met bid'em up Bruce!

I am just learning all this history of Investment Banking...but dese fucking guys are born knowing it.

Where is Ferdinand fucking Percora? Oh yeah, he got pre-emptively Client Nined this time around.

Dese guys are good, dey learn.

Thu, 07/28/2011 - 13:05 | 1501520 caerus
caerus's picture

Pay no attention to that man behind the curtain!

Thu, 07/28/2011 - 13:08 | 1501526 lesterbegood
lesterbegood's picture

Lawful government has been re-established!

The Republic for the united States of America has been re-inhabited! All 50 free state republics have also been re-inhabited! re-inhabitation of the free county settlements is underway.

The Republic is back!

Thu, 07/28/2011 - 13:08 | 1501527 carbonmutant
carbonmutant's picture

Most Americans are not educated well enough in financials or deception to hold their ground in this type of debate.

In the end they just want someone else to solve the problem...


Thu, 07/28/2011 - 13:09 | 1501529 Chief KnocAHoma
Chief KnocAHoma's picture

We are waking up. The more MSM talks about default it becomes plausible. Jubilee the bankers, China, property owners, stock and bond holders.

Issue a new currency and distrubute for internal trade.

Time for the reset. Do you really think there is any other solution. The complexity of this system, and the CDS/derivative shit pile insures that just a few fails, and the house of cards topples.

The trick is to be ready. Have troops in oil rich areas. Be able to grow enough food to feed your population. Have the structure of a constitution to fall back on, and have the geographical advantages of North America.

Stay strong.

I am The Chief

Thu, 07/28/2011 - 13:12 | 1501542 schoolsout
schoolsout's picture

220...221...whatever it takes

Thu, 07/28/2011 - 13:13 | 1501543 schoolsout
schoolsout's picture


Thu, 07/28/2011 - 13:14 | 1501548 zebrasquid
zebrasquid's picture

Going to catch up with his old buddies in Babylon, as he quotes anti-Babylon Dylan lyrics?

Sure *sounds like* a poseur.

Thu, 07/28/2011 - 13:15 | 1501549 caerus
caerus's picture

love the dylan quotes...might i humbly suggest "it's all over now baby blue" for your next missive...and, of course "jokerman" thanks

Thu, 07/28/2011 - 13:15 | 1501550 Animal Cracker
Animal Cracker's picture

I hope this is wrong.

The first ever GAO (Government Accountability Office) audit of the US Federal Reserve was recently carried out due to the Ron Paul/Alan Grayson Amendment to the Dodd-Frank bill passed in 2010. Jim DeMint, a Republican senator, and Bernie Sanders, an independent senator, while leading the charge for an audit in the Senate, watered down the original language of house bill (HR 1207) so that a complete audit would not be carried out.  Ben Bernanke, Alan Greenspan and others, opposed the audit.

What the audit revealed was incredible: between December 2007 and June 2010, the Federal Reserve had secretly bailed out many of the world’s banks, corporations, and governments by giving them US$16,000,000,000,000.00 – that’s 16 trillion dollars.

Thu, 07/28/2011 - 13:25 | 1501582 Chief KnocAHoma
Chief KnocAHoma's picture

Wake up!

Imagine that $16 trillion from the Fed. I'm speachless.

Thu, 07/28/2011 - 13:25 | 1501583 JW n FL
JW n FL's picture 3 Years 300% More Dollars Printed Out of Thin Air!  Treasury Direct $14 Trillion Debt   $15 Trillion in Loans <----------------  this is the list of loans described in your article, as provided by the FED to Bloomberg.  / ='s $29T

Thu, 07/28/2011 - 13:43 | 1501634 Animal Cracker
Animal Cracker's picture

Thanks JW.  i just threw up in my mouth a little.

Thu, 07/28/2011 - 22:02 | 1503020 ViewfromUnderth...
ViewfromUndertheBridge's picture

Collateral at the Discount Window!

Thu, 07/28/2011 - 14:15 | 1501721 TruthInSunshine
TruthInSunshine's picture

Unless I'm wrong, which is possible, approximately 1.5 trillion of that monetary base as depicted in the St. Louis Fed Chart you linked is comprised of tnotes bought by The Federal Reserve during POMO (QE).


If I'm correct, than of the 2.7 trillion showing up in the adjusted monetary base, all BUT 1.2 trillion of it is in the form of tnotes held by the Fed.

Thu, 07/28/2011 - 13:32 | 1501602 SheepDog-One
SheepDog-One's picture

Of course its not wrong, real trillions given away probably way higher than that number. The people should be in total revolt, but still sit mesmerized by their captors.

Thu, 07/28/2011 - 14:24 | 1501752 ZeroAffect
ZeroAffect's picture

Hey, wake up people! Whether it's 16 Trillion or 16 Quadrillon it ain't real money. They are acting as GOD and creating - out of thin air - something the whole world accepts as REAL, which it ain't. Got it? It is NOT real money if no one accepts it. So, those who accept it as real, accepts and worships the image, which is the Federal Reserve Bank.

Thu, 07/28/2011 - 14:42 | 1501807 Neezer
Neezer's picture

"Dei Sub Numine Viget"

Translation: "God went to Princeton"

Thu, 07/28/2011 - 13:16 | 1501552 tahoebumsmith
tahoebumsmith's picture

Thanks Michael, your insight is always greatly appreciated. There are only a few people like yourself that have done more then scratch the surface to find the truth. This situation is deeper then most people understand and you are correct in saying these clowns don't have a plan B. Thus far all that has been accomplished is a mirage created by 15 TRILLION dollars of more debt and liabilities. Next time around we won't be able to flood the markets with this kind of liquidity to hide the truth. America's credit card is slowly getting cut up and when the ability to borrow no longer exists the true extent of the situation will be revealed.

Thu, 07/28/2011 - 13:16 | 1501554 The Grifter
The Grifter's picture

"The con wasn’t in the notion that the financial system risked implosion as I believe that statement was most likely true."


I still don't think that was true.

Weak attempt to associate Dylan songs as well.

Thu, 07/28/2011 - 13:17 | 1501558 GeneMarchbanks
GeneMarchbanks's picture

Krieger is hit & miss. This however is somewhere between. He puts up some decent arguments and then all of a sudden takes a shit on Gregg.

Incomplete thoughts...

Thu, 07/28/2011 - 14:49 | 1501830 caerus
caerus's picture

very nice...

Thu, 07/28/2011 - 13:26 | 1501587 Atch Logan
Atch Logan's picture

The articles in here are great, but I wish, Tyler, that you would put the author's name next to yours as the submitee. The title sounds great, but many of these guys I would not bother reading or even entering the site.

To wit:  1) the afirmative action right-winger Lira and 2) this guy.  He has become trite, especially condescending: so who gives a fuck if he went to Princeton and has a major in math.  Thousands and thousands of people have gone to Princeton and thousands and thousands have degrees in math.

That he can stick  some schmaltzy poem at the top of his essay is pathetic:  Into the valley of death.....

And man, he has given his life to enlighten us ignorants....  Can't you find someone better?




Thu, 07/28/2011 - 13:26 | 1501588 nah
nah's picture

WWIII will continue to abdicate power to the state

China will consume more oil than the US

Baby boomers will get access to SS and Medicare

Asian labor markets will become more like US labor markets

Securities and private capitol will eclipse individual citizens power

Government will want you to pay as many fees as you let them

Global debt will rise by at least $2 trillion a year


for the next 30 years... theres TVs and noone can shut down the MSM... if you dont like it buy a blackberry

Thu, 07/28/2011 - 13:30 | 1501598 SheepDog-One
SheepDog-One's picture

Paulson never conned me for 1 second with that 2008 fakery, I said then that it was the banks wanting free money and firthermore I said 'let the banks fail'.

Thu, 07/28/2011 - 13:33 | 1501603 WonderDawg
WonderDawg's picture

"During 2008, traitors like Hank Paulson were able to con most of us by saying that we risked a destruction of the financial system as an excuse to give the banksters and their allies a blank check."

Ah, as I recall in 2008, "most of us" were against the bailout by about 300:1. What's the agenda here? Why spin this lie? We the People stood up and said "DON'T DO IT" loud and clear, and they did it anyway. Thanks for perpetuating a myth, Krieger.

Thu, 07/28/2011 - 13:40 | 1501624 SheepDog-One
SheepDog-One's picture

Thats right, I remember at the time 90% of the people being dead set against the bailouts to banks, and during the time govt was pleading with people to stop calling DC because the switchboards were melting down. 'Hank Paulson conned most of us'? Well thats simply a lie. Mike probably backed the bailouts, Im not sure but his spreading the blame around is weasely...just like Glenn Beck turned and  supported the bailouts after someone set his mind right. 

Thu, 07/28/2011 - 13:53 | 1501667 Silver Dreamer
Silver Dreamer's picture

Lincoln, aptly a class A fascist, should have said, "Government of the banks, by the banks, for the banks, shall not perish from the Earth."

Thu, 07/28/2011 - 14:04 | 1501699 Zymurguy
Zymurguy's picture

That's right WonderDawg and Sheepdog...  public opinion on this topic was more clear than on nearly any other topic in history.  The government and the Fed' queered the deal on risk.  Those businesses should have failed... other banks would have picked up the slack... that's the way it goes.

"not funny, haha... funny queer"

Thu, 07/28/2011 - 13:36 | 1501610 Timmay
Timmay's picture

Ending this Debt Ponzi bubble will mean freedom for millions of Americans and quite literally billions globally.

Don't be afraid of freedom.

Thu, 07/28/2011 - 13:36 | 1501613 SheepDog-One
SheepDog-One's picture

Mike Krieger lamenting on how 'we' were all conned, this coming from a staunch Obama voter? Worry about how you were conned Mike, I never was.

Thu, 07/28/2011 - 14:03 | 1501695 NotApplicable
NotApplicable's picture

'We,' the Most Dangerous Word in the World

Thu, 07/28/2011 - 13:37 | 1501614 MethodMan
MethodMan's picture

Lawful or not, calling someone a traitor used to result in a duel, such was the grievous insult to one's honor.

Thu, 07/28/2011 - 13:41 | 1501630 SheepDog-One
SheepDog-One's picture

I'd challenge Paulson to a duel anytime anyplace! No problem! 'Hank Paulsons honor' roflmao!

Thu, 07/28/2011 - 13:51 | 1501665 slewie the pi-rat
slewie the pi-rat's picture



or, you could just try them for treason, of course. are you familiar with the aaron burr treason trial, presided over by john marshall?

Thu, 07/28/2011 - 13:57 | 1501677 Silver Dreamer
Silver Dreamer's picture

My country, America, not the corporate United States of America, still stands for liberty and in defense of unalienable rights.  Traitor is a very appropriate word for the banksters, globalists, and fascists running our nation today.

Thu, 07/28/2011 - 13:46 | 1501639 Dolemite
Dolemite's picture


“The fact that we are here today to debate raising America ’s debt limit is 
a sign of leadership failure. It is a sign that the US
Government can not pay its own bills. It is a sign that we now depend on 
ongoing financial assistance from foreign countries to
finance our Government’s reckless fiscal policies. Increasing America ’s 
debt weakens us domestically and internationally.
Leadership means that ‘the buck stops here.' Instead, Washington is shifting 
the burden of bad choices today onto the backs of our
children and grandchildren. America has a debt problem and a failure of 
leadership. Americans deserve better.”

-- Senator Barack H. Obama, March 2006


Thu, 07/28/2011 - 14:20 | 1501741 Neezer
Neezer's picture

"Fate, it seems, is not without a sense of irony"

Thu, 07/28/2011 - 16:09 | 1502079 Sambo
Sambo's picture

Poor chap must have come under pressure from unseen forces to take a U-turn after entering the White House.

Thu, 07/28/2011 - 13:46 | 1501643 Undecided
Undecided's picture

Sprott report on gold and silver last few days



Thu, 07/28/2011 - 13:54 | 1501670 Marley
Marley's picture

"In the meantime…Raise Da Debt Ceiling!"

Man, did you just get used for profit at many levels?

Thu, 07/28/2011 - 14:34 | 1501779 ZeroAffect
ZeroAffect's picture

Yeah, reading about how he was conned on so many levels, you'd think he would have signed off with, "Lower Da Boom on the criminal banksters, off with their heads."

Thu, 07/28/2011 - 14:02 | 1501692 Rodent Freikorps
Rodent Freikorps's picture

MIC is so 20th century.

If you aren't including healthcare, welfare, and anything else the bureaucrats have been given control over, then you only see half the problem.

Thu, 07/28/2011 - 14:02 | 1501693 Neezer
Neezer's picture

Sweet Jesus... The top story on CNN discusses a treasury loophole that would allow the US to print coins in trillion dollar denominations and deposit them in a checking account at the federal reserve...

This sh@t has officially jumped the shark!

Thu, 07/28/2011 - 14:09 | 1501715 SheepDog-One
SheepDog-One's picture

Trillion dollar coins stamped onto zinc slugs, fitting for our nation.

Thu, 07/28/2011 - 14:28 | 1501767 Andy_Jackson_Jihad
Andy_Jackson_Jihad's picture

Actually, that is awesome.  As scary as the UST and therefore congress and the executive having influence over the money supply, it can't be worse than the fed.  If congress had been totally responsible for all the shit that has happened the public would know to confront with pitchforks and torches.

This has the potential to execute a simultaneous rebuke of the fed's power along with default/currency reset.  The proverbial middle-finger.  "here ya go benny, have a stack of limited edition $1T zinc coins.  They are legal tender for all debts public and private.  This nice gentleman will show you to your new penthouse that resembles a gallows, we hear its all the rage in basel right now.  Oh, and fuck you."

Thu, 07/28/2011 - 14:08 | 1501712 JohnFrodo
JohnFrodo's picture

I may not be much of a man but I know what I am and so is Lola -Kinky like

Here in simple terms is the giant squid working in plain site.

Considering how tangental to the whole enterprise he was, imagine what the real players took home!

Thu, 07/28/2011 - 14:29 | 1501762 Use of Weapons
Use of Weapons's picture

Of course, being held in a "federally authorized free trade zone".

Aka, no custom tax. No tax at all.

Domestic and foreign merchandise may be stored at the Zone. It may be manufactured, displayed, sold or altered in almost any way that isn't prohibited by U.S. law.

As long as the merchandise remains in the Zone, it is not subject to U.S. Customs laws governing the entry of goods into Customs territory or payment of duty on those goods. In addition, Zone users can legally minimize the payment of U.S. Customs duties by either paying duty based on the classification of the merchandise at time of admission to the Zone or by paying duty based on the classification of the merchandise when it subsequently enters U.S. Customs territory. 


Goldman might be a little naive though - Detroit is a tough city, and if anyone notices that the price of aluminium going through the roof, well... I wonder if people will be weighing it in or not? 


[a tune to match your Lola's ] 

Thu, 07/28/2011 - 14:58 | 1501862 JohnFrodo
JohnFrodo's picture

H/T for the Terrorvision, never heard of them but they are great!

Thu, 07/28/2011 - 16:24 | 1502103 Use of Weapons
Use of Weapons's picture

Someone around here was touting the CEO position Nathaniel Rothschild was holding in a Russia alu. company recently - here's the reason people are positioning themselves, I think:

The government, through Public Investment Fund (PIF) and the Saudi Arabian Railway (SAR) built a $4 billion railway link between the two deposits ( Al Jalamid and Al Ba’itha) and the process facilities in Ras Az Zawr on the Gulf coast. The railway crossing the sand dunes of An Nufude Desert involved record breaking earthwork volumes in a difficult terrain.  The government through the Saudi Port Authority (SEAPA) built a major deepwater port in Ras Az Zawr, a project close to $1 billion. The government of Saudi Arabia invested in a large combined water and power project in Ras Az Zawr to provide electricity to the Aluminum complex at attractive prices.


Cheap electricity [burn off gas - either use it for desalinisation or making alu., a large part of the production costs], a system that will ignore environmental costs, and Saudi wins again. Either which way, the market has a (potential) huge new player on the scene.

Thu, 07/28/2011 - 16:36 | 1502214 JohnFrodo
JohnFrodo's picture

I am in good shape, I sold collaterillzed futures on my bike fram.

Thu, 07/28/2011 - 16:37 | 1502218 JohnFrodo
JohnFrodo's picture

I am in good shape, I sold collaterillzed futures on my bike frame.

Thu, 07/28/2011 - 14:12 | 1501724 jimijon
jimijon's picture

Come on ! 

Who is with me to get Poniz posthumously honored with a Nobel in Economics?

If I get enough, I will start a signature website!



Thu, 07/28/2011 - 14:18 | 1501734 SheepDog-One
SheepDog-One's picture

No doubt today Ponzi would be showered with top govt economic job offers.

Thu, 07/28/2011 - 14:18 | 1501735 ThirdCoastSurfer
ThirdCoastSurfer's picture

There is a law they have called "diminishing returns". 

At some point to start over than forever carry-on.

To pay a dime or pay a dollar what difference does it make? 

So long as no one's hungry and you've took all you can take. 

So $1 becomes $500 and you still must pay the price, 

but now it's those with nada who must turn to sacrifice. 

So now it's like Zimbabwe, but still you carry on

your Ivy League 'ucation makes you blind to what you've learned

so now we all sit hungry but I'll offer you a loan.

Here, for you an apple, but not for you to eat.

You'll find it in the Bible in a garden like retreat.

A golden rule they call it and while it's not a law, it's sure a damn

sight better than making others' crawl. 


Thu, 07/28/2011 - 14:19 | 1501738 RobotTrader
RobotTrader's picture



Sprott must be hating life right now with gold stocks like AEM getting totally bombed out and the GDX/GLD ratio screaming towards 2011 lows.

Thu, 07/28/2011 - 14:24 | 1501753 jack stephan
jack stephan's picture

"If there is any justice in the universe he is going to get it.  In this life or the next.  It matters not."

+ a quadrillion

Thu, 07/28/2011 - 14:27 | 1501763 Shameful
Shameful's picture

If there is no justice in this world, why would we expect their to be any in the next?  Perhaps there is no justice, just us.

Thu, 07/28/2011 - 14:25 | 1501755 Shameful
Shameful's picture

Of course it will work out for the oligarchy and whatever it takes will work.  They are willing to strip every bit of capital and wealth from a country to see it done.  and even if they "fail" they will be the ones holding most of the chips when the new game starts up and the cycle will continue.  Same as it ever was.  This is not new, nor the end of history.  Just another chapter in the history of Earth.  Where sheep get fleeced and shepherds get wealthier and wealthier.

It will work because people cannot see the flaws now, and when it crashes they will want a scapegoat that does not involve them talking blame for their complacency.  So they will be ripe to be fooled again.  People are amazingly adaptable creatures, and we flee pain including the psychological pain of being wrong, so as a species we will continuously make the same mistakes over and over again.  Best thing anyone can do is being willing to share info, but most importantly save yourselves and your loved ones.  Thinking that any of us can change the nature of mankind is a bit absurd.

Thu, 07/28/2011 - 14:26 | 1501761 Lord Koos
Lord Koos's picture

"the financial system is a ponzi scheme that enriches only the three enshrined parasite classes that dominate America today. The TBTF Wall Street banks, the military industrial complex and the politicians and lobbyists in D.C."


You don't think that the average multi-national benefits from this system too? 

Thu, 07/28/2011 - 14:44 | 1501812 Audacity17
Audacity17's picture

To really understand the misused term "military industrial complex" you need to keep reading Eisenhower's statement:


Until the latest of our world conflicts, the United States had no armaments industry. American makers of plowshares could, with time and as required, make swords as well. But now we can no longer risk emergency improvisation of national defense; we have been compelled to create a permanent armaments industry of vast proportions. Added to this, three and a half million men and women are directly engaged in the defense establishment. We annually spend on military security more than the net income of all United States corporations.

This conjunction of an immense military establishment and a large arms industry is new in the American experience. The total influence — economic, political, even spiritual — is felt in every city, every State house, every office of the Federal government. We recognize the imperative need for this development. Yet we must not fail to comprehend its grave implications. Our toil, resources and livelihood are all involved; so is the very structure of our society.

In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military industrial complex. The potential for the disastrous rise of misplaced power exists and will persist.

We must never let the weight of this combination endanger our liberties or democratic processes. We should take nothing for granted. Only an alert and knowledgeable citizenry can compel the proper meshing of the huge industrial and military machinery of defense with our peaceful methods and goals, so that security and liberty may prosper together.

Akin to, and largely responsible for the sweeping changes in our industrial-military posture, has been the technological revolution during recent decades.

In this revolution, research has become central; it also becomes more formalized, complex, and costly. A steadily increasing share is conducted for, by, or at the direction of, the Federal government.

Today, the solitary inventor, tinkering in his shop, has been overshadowed by task forces of scientists in laboratories and testing fields. In the same fashion, the free university, historically the fountainhead of free ideas and scientific discovery, has experienced a revolution in the conduct of research. Partly because of the huge costs involved, a government contract becomes virtually a substitute for intellectual curiosity. For every old blackboard there are now hundreds of new electronic computers.

The prospect of domination of the nation’s scholars by Federal employment, project allocations, and the power of money is ever present

  • and is gravely to be regarded.

Yet, in holding scientific research and discovery in respect, as we should, we must also be alert to the equal and opposite danger that public policy could itself become the captive of a scientifictechnological elite.

It is the task of statesmanship to mold, to balance, and to integrate these and other forces, new and old, within the principles of our democratic system — ever aiming toward the supreme goals of our free society.

Thu, 07/28/2011 - 14:54 | 1501852 JR
JR's picture

[T]he financial system is a ponzi scheme that enriches only the three enshrined parasite classes that dominate America todayThe TBTF Wall Street banks, the military industrial complex and the politicians and lobbyists in D.C. that line their pockets.  Everyone else gets sucked dry. – Michael Krieger

Outstanding summary! Mike. It has never been said better.  And once our enemy has been identified, we can then begin to move forward as you suggest, when this “immoral money system” gets dismantled.

At this juncture, it is critically important to realize that this wealth transfer has not occurred because of innocent mistakes by the Federal Reserve and other policy makers. The position our country finds itself in with respect to the ruling elite could only have been caused by a deliberate, secretive air of flagrant cruelty. This deliberate theft of America’s finances, political bodies, freedom and future began with the clandestine establishment of a private central bank.  Every malicious action that has taken our country away from a sound financial foundation has had its origination in the NY Federal Reserve Bank.

"Is there any reason why the American people should be taxed to guarantee the debts of banks, any more than they should be taxed to guarantee the debts of other institutions, including the merchants, the industries, and the mills of our country?"  -- Senator Carter Glass during the Senate debate on the Banking Act of 1933 (Glass-Steagall Act) [source: Rixey Smith and Norman Beasley, Carter Glass: A Biography (1939)]

Have a great break, Mike... In the meantime...Raise Da Debt Ceiling! Or "whatever it takes..."

Thu, 07/28/2011 - 15:08 | 1501893 amanfromMars
amanfromMars's picture

"This creates an extremely dangerous scenario became I am not convinced these clowns have a Plan B."

That is not to say that others, who are not clowns and nobody's fools and tools, do not have alternate plans ...... with some of them actively running, Mike/Tyler. ......

Control Words Create Worlds .... with AI KISS ProgramMING. Virtual Reality made Easy for Dummies and the Simply Stupid.

Thu, 07/28/2011 - 15:26 | 1501942 paint it red ca...
paint it red call it hell's picture

"During 2008, traitors like Hank Paulson"


Call them out man> They are traitors and should be treated in the traditional manner.

Thu, 07/28/2011 - 16:12 | 1502090 Ricky Bobby
Ricky Bobby's picture

You want to see what will happen check out Argentina. The masses revolted after they were totally screwed which included stealing the money they had in the bank. And guess what, nothing happened, the crooks got away with it. A lesson I am sure our bankers have learned well. Same story, corrupt politicians, bankers, and media. It's austerity for the peasants and if you don't like it well we have a much more militarized police force and tons of prison infrastructure.

Thu, 07/28/2011 - 18:37 | 1502583 Mr. Lucky
Mr. Lucky's picture

I find myself voting for who I dislike the least.  But I vote.

Fri, 07/29/2011 - 03:47 | 1503654 qing
qing's picture

removed content (spam)

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