austrian63

The Economy on Dope: Investors Fear Inflation, Embrace Gold

I applaud you recognition of the "sham" economy mananged by the Federal Reserve Bank and its control of the fractional reserve banking system. Our system is truly "crony capitalism" in which the government's policies are intended to benefit the few at the expense of the many. This is the nature of interventionism no matter who (Left or Right) is intervening.

You stated the U.S. Ponzi scheme will continue for another 10 years without significant intervention. You need to realize the current system of zombie companies staying alive and asset prices remaining propped up only continues because of intervention. However, this intervention cannot and will not prevent the eventual collapse of the malinvestments that were funded because of the artificially low interest rates maintained by the Fed.

The biggest story now is the fact that last week we were all diverted, by the government, with the "populist" backlash against the AIG bonuses. This is in reality a non-story and most Americans should be smart enough to realize that $165 million does not have the same impact on the economy as $1 trillion. It's very interesting that Ed Liddy was being roasted on Capitol Hill on Wednesday when the Fed quitely decided to "monetize" up to $1.15 trillion of the U.S. debt. This was the real story but it was not covered as we too busy acting outraged over the AIG bonuses.

The U.S. has been partially off the gold standard since the 1930's and fully off since 1970. In the 4 to 5 thousand years of commerce with currency, only about 40 of these years has been conducted with fiat currencies. There is a reason for this and we will very likely see a currency crisis in the near future. And you can bet that Obama, Geithner, Benanke, Summers, Romer, Dodd, Frank, et.al. have foreign bank accounts, probably Swiss accounts denominated in Swiss francs and gold accounts. They will be just fine when the dollar collapses under the weight of their own stupid and selfish inflationay policies.

The Economy on Dope: Investors Fear Inflation, Embrace Gold

Your anti-semtism proves that you have no real clue. Your rubbish is a stain on this website. I have no problem with a person's right to spout their incorrect and racist garbage but I will not allow it to go unchallenged and to duvert attention from the real problems which eminate with the state.

The problem is not Jews it is government and the statist mentality that is now so readily accepted. If you had any knowlege and understanding of history you would know that business cycles, which have plagued the industrialized world for the past two centuries, are caused by the state's inetervention in monetary policy, via central banks, and the creation of money out of thin air through inflationary credit expansion. J.P. Morgan's men were prime movers of the Federal Reserve Act of 1913 and they were WASP's not Jews.

It's a shame that in an environment that needs real discussion of ideas all you can think of is Jew bashing. You should be happy with our current situation in that the public private partnerships of the government owning the banks and AIG is very similar to Germany in the 1930's. Fascism is more subtle than Communism in that the government makes it appear that the means of production are still private property but the government really controls all production decisions.

Please take a break from your religious and racial bigotry and spend some time reading and studying history, especially the past 300 years of Western economic and political history and you will be surprised what you will learn.


On Mar 22 03:17 PM MADE IN W.GERMANY wrote:

> I think jews are to blame for creating current economic depression,
> jews have too many important positions in the US government, from
> CIA to FED all are jews.
> Most investment banks ceo's are also jews, how can you explain it?
>
> In Germany there are also many jews who are allowed a top jobs, no
> problem, but they don't represent such a high proportion as in US.
>
> American people must wake up and look into the roots of the problem.