Richard Daughty
There is only one way to “protect the financial system”, and that is to stop the damned Federal Reserve from creating all the excess money and credit that finances the inflated crap that ends up endangering “the financial system” because so many people have lied to so many people to have them invest so much money into so many over-valued things, and now losses are inevitable, and on a scale that dwarfs the economies of the world.
I tried to leap to my feet to shout, “No! No! No! The Fed is supposed to protect the value of the dollar, which it has completely failed to do, and now it has created so much money and so much inflation in asset prices that they created the ‘unacceptable systemic risk’ you are talking about, you moron! In fact, the Federal Reserve is so incompetent and stupid that the dollar has lost almost 98% of its buying power since 1913 when the Fed was authorized by a few corrupt Congressional politicians on Christmas Eve, 1913 when everybody else was away! And now you want to give the Fed more powers? You’re a freaking imbecile or insane! Or both!”, but I found that was frozen in outrage! I could not move!
Hell, the recent downdraft in the S&P500 index to just over 1300 means that anybody who bought shares in this index since October 2006 has lost money! And now, because so many people are getting ready to lose so much money, here is the Secretary of the Treasury wanting permission to take over the finances of every company in America! Hahaha! Un-freaking-believable! We’re freaking doomed! Ugh. More
Sphere: Related ContentTags: federal reserve, financial system, inflation, S&P500 index