Eliot Spitzer Claims the Fed Is a Ponzi Scheme

Do not miss out on this MSNBC video! Former New York Governor Eliot Spitzer says the Fed is a Ponzi scheme and the guys in the studio depict the fatal flaw of the Fed's strategy. Using cheques and a garbage bag, finance can become easily understood. Enjoy the full 8:38 minutes.

It certainly is only a coincidence that Spitzer was pressured to step down at the time he had become a persistent nuisance for all those banks that had overleveraged.

Spitzer was exposed for using an escort service and resigned from his governor's post on March 17, 2008. Justice must have become heavily imbalanced in the USA when the former White House occupiers under George W. Bush get away with torture and several hundred thousand civilians killed in far-off places in the name of petro-theism.

Comments

[forge98:]

As usual, it was Bush's fault. Do you think you'll blame Bush in 3 years for Marshall Law being declared?

Jul 27 07:40 AM

[grey road:]

Bush's fault, my fault , your fault... who cares whos fault it is. And why do you care if it is bush's fault or not? Its not his fault, however there are more than enough things we can blame him for so let him take the fall. When that happens in 3 years we can blame the same people who are behind the ponzi scheme called the fed. Its called the banking families... THey own the fed, of course its a damn Ponzi scheme... The fed is a joke... and I hope these thugs get exposed soon.

Jul 27 08:07 AM

[The Geoffster:]

Spitzer was on to AIG when he discovered they were selling commercial insurance policies as swaps, thereby allowing insureds to show insurance coverage on their books when they were really self insured. By going after the financial industry, he put a big target on his head. His enemies found his weakness and exploited it. He could have gotten away with torturing Hank Greenberg and maybe been a hero but women hate it when treat yourself to forbidden carnal pleasures.

Jul 27 08:56 AM

[Cjhies:]

How would he know what a Ponzi scheme was when he couldn't even ID Madoff's????

Jul 27 09:52 AM

[whidbey:]

Your credibility is shot to hell when you have to compare Spitzer to Bush to justify your harping on his nonsense attempts to re-enter the public scene..

Spitzer resigned for real reasons like possible charges of lying to investigators, hiding payments to his lady of the evening and possibly defrauding his family business, federal tax fraud, trafficing for immoral purposes, the Man Act. Oh yow, questionable moral character in public office, and the terrible image of a prosecutor, State Atty general violating every law he enforced.

Now the meat does he know anything about the Fed? I think he proved he does not. and makes you a real disgrace to SA.

Jul 27 10:21 AM

[Gregman2:]

The problem with Spitzer is that he became Governor. Had he remained attorney general he would have remained in his core competence. He's a very smart guy. He got pussy whipped, and lost it. But, he's a good analyst.

Jul 27 11:20 AM

[Bill40:]

Thank you for the link. Interesting idea that Spitzer was taken out because of his stance. It seems like a little bit of turrets though when you went off of Bush in an article on the Fed.

In the video they talk about the Fed giving taxpayer money to the banks, but they didn't really use taxpayer money. It seems more like they printed money. It will hurt taxpayers similarly to a tax via a weaker US dollar and inflation, but it's not a traditional form of using taxpayer money.

Jul 27 11:30 AM

[Prudent Inv...:]

You only talk about possible charges. Did he get indicted for anyone of those?


On Jul 27 10:21 AM whidbey wrote:

> Your credibility is shot to hell when you have to compare Spitzer
> to Bush to justify your harping on his nonsense attempts to re-enter
> the public scene..
>
> Spitzer resigned for real reasons like possible charges of lying
> to investigators, hiding payments to his lady of the evening and
> possibly defrauding his family business, federal tax fraud, trafficing
> for immoral purposes, the Man Act. Oh yow, questionable moral character
> in public office, and the terrible image of a prosecutor, State Atty
> general violating every law he enforced.
>
> Now the meat does he know anything about the Fed? I think he proved
> he does not. and makes you a real disgrace to SA.

Jul 27 07:17 PM

[Carlos Lam:]

Spitzer raises good points, but he is rather suspect as a source of anti-Fed information. If a man can betray his marriage vows -- which are supposedly the most sacred that one can make -- then I will be rather hesitant to trust him when it comes to information that he's providing. This goes double for Spitzer, who was a "crusading attorney general" yet was more than willing to break New York (and possibly federal) prostitution statutes. Fortunately for Spitzer, others (i.e. Ron Paul, Murray Rothbard, F.A. Hayek) have already outlined the inherent problems with the Federal Reserve.

Jul 29 11:21 AM

[conspiracyb...:]

Just about every male politician and power broker in DC has either affairs (if they are good looking) or paid liaisons (if they can't get it for free). Anybody familiar with bigtime politics knows this to be true. Its laughable to think Spitzer wasn't taken down for political reasons.

Aug 03 02:19 PM