The Swimming Naked Prophecy
It's only when the tide goes out that you learn who's been swimming naked - Warren Buffet (2007)
IMF just predicted that the US economy will be worse than the world economy in 2010. But why the heck wasn't this aired on all TV broadcasts several years ago? The answer to that question is just more than appalling. 'Few Americans realize that over the last 94 years they have been enserfed', Paul Craig Roberts wrote. The scheme is obvious. The real crime lies in the 'Radical Redistribution' of wealth, asserted Chuck Collins in a Buzzflash interview. Alas it is only when this process is taking place that we can forecast a full-fledged systemic crisis. But at the very heart of this worldwide financial Greek tragedy, lies the very root of the current crisis is Money itself... It’s charging interest, stupid!
If you do not know Nomi Prins yet, her book titled 'Other People's Money' deserves to be put on your must read list a.s.a.p. Her work is an appalling indictment and it will irate you beyond anything you can imagine. Indeed - Prins argues that the free market system is in the hands of criminal wizards whose machinations have overrun the government while claiming to be its champions - and that there is no way to stop those scandalous doings with the system now in place. Laws are simply inadequate to the task. She also describes at length a whole industry that feeds on unlimited quantities of easy money to fund expansion. The most astonishing is that all the so-called (de)regulations were drafted under Clinton's tenure. The funny thing is that Bill Clinton asked not to be blamed for the economic debacle. The most damning evidence is when Nomi Prins explains why banks don't care about the failures at all: the word 'losses' is not part of their jargon behind closed doors. The name of the game in town is milking the system, using every trick possible to make *some* incredibly rich and leave everyone else holding the bag. According to her knowledge, investment banks have sold up to 30 times every mortgage in America. This brings us back to Buffett's dire CDOs warnings... with a financial structure like this, everything is built on sand. How ready are you and every member of your family to lose the $190K - which you do not have on your bank account? [more]
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