Archive for the ‘ash’ Category

Økonomiske sitat: 27-29 september 2008

Lagret under: ash, bonner-bob, chapman-the, guru-adrian, mogambo, sitat-bill, økonomiske on oktober 2, 2008 at 9:04 pm

” Not to be outdone by their brothers in the military and industrial complex, the big bankers and financiers of the Illuminati have, during that same period, profited from the bubble and real estate bubble, not to mention the quadrillion dollar derivatives casino, that were set up through the repeal of Glass-Steagall by the Gramm Leach Blilely Act in 1999, followed by the deregulation of what was to become the gargantuan OTC derivatives market by the Commodity Futures Modernization Act in 2000.” 

“You might have been wondering why all these big banks like JP Morgan Chase and Bank of America are buying up and absorbing toxic waste dumps like Bear Stearns, Merrill Lynch, Countrywide and Washington Mutual, seemingly without fear that their toxic waste might poison them and put them under.  Wonder no longer, because all the Illuminist scum running these big banks were told in advance that the Paulson Plan would be slam-dunked down the throats of our Congress by the peerless Caligula Administration.  All that toxic waste, they were told months in advance, would not affect them, because the Illuminist operatives in our government were going to pawn it off on the dopey sheople, who would be sold down the river by their traitorous, so-called representatives in our government.” 

“The Paulson Plan will start with $700 billion, and end up being $7 trillion (plus) as they extend the bailout to include not only real estate derivatives but credit default swaps and interest rate swaps as well.  The average family of four gets a stimulus check for $1,200 from their government, and then they pay out 8 times that much back to their government, almost $10,000, just for the opening volley on the Paulson Plan as initially proposed, not to mention the Fannie and Freddie bailout, which will also cost roughly the same, just for openers.  Twelve hundred for you, ten thousand for them.  That is the Illuminist way, and it will create a hyperinflationary recession and a Very Large Depression that will make the 1930’s look like a cake-walk, while simultaneously removing any remaining pretense of free and open markets.” 

“You had best buy gold and silver quickly to protect yourself from the coming catastrophe.  While the ancient Jews had lamb’s blood to put on their door posts to protect them from the Destroyer, you will have to settle for gold and silver.  We also note that God is still available as well, and we suggest you call on His services for the ultimate in bailout protection.”      

Bob Chapman, 27. september 

“And what a bunch of numbskulls – Greenspan, Paulson and Bernanke! Every word they’ve said so far has been financial poison. “Greenspan relaxed about house prices…” reported the Financial Times in 2005. “Most negatives in housing are probably behind us…” said the same sage in October 2006. “We believe the effect of the troubles in the subprime sector…will be likely limited…” said Bernanke in March 2007. It’s “not a serious problem…I think it’s going to be largely contained,” added Paulson in April 2007.  

But these are the same numbskulls who now say they are saving capitalism from itself. Ah, there’s the rub…amid all this giddy merriment is a serious threat. The feds have bailed out the bankers, the insurers, the mortgage lenders, and half of Wall Street. But who will bail out the feds?

Since 1971, the world’s money system rests on the dollar. And the dollar rests on nothing but faith, hope and the kindness of strangers. And while the full faith and credit of the United States of America is elastic, it can snap.”

“Where will the government get that kind of money? There are only two possibilities – one honest and depressing, the other corrupt and alarming. Whether it borrows the money, or prints it up, the world enjoys no net increase in financial resources. Borrowing takes resources from projects that might have been worthwhile and diverts them to the losers. Interest rates rise, as a consequence of the extra borrowing; higher rates generally worsen the economic picture. And while the U.S. borrows, long term, at almost 5%, it lends at barely 2%. It’s like a bank that has gotten its business model badly mixed up. The more it borrows and lends, the faster it goes broke.  If, on the other hand, it merely prints the money – or if it creates it “out of thin air,” to use Lord Keynes’ handy phrase – the results are even worse. Inflating the money supply with new currency, a la Argentina or Zimbabwe, wipes out debts. But it destroys faith in the dollar and brings down the whole world’s money system.”  

”Yes, dear reader, as predicted in these pages…we are witnessing an epochal shift – from capitalism to socialism…from markets to politics…from subtle swindle to naked larceny…from white collar grifters to stick-up men…from slick fraud to brute force.” 

Bill Bonner, 29. september 

“Another reason that I cry so piteously and drink so abusively is that all this new government borrowing will create so much new money that it will destroy the dollar’s buying power, taking my own country down with it. The only reason that I stop bawling like a little crybaby is the knowledge that the people who own gold, silver and oil will get rich, rich, rich, and since I own gold, then people will want me to loan them a few bucks out of my huge stacks of money because they are starving, and their children are starving, and I will say “No!”, and it will be thin gruel indeed for them to hear my mocking voice again echoing in their heads, “Buy gold, silver and oil, you morons, because your stupid government is letting a private bank (that misleadingly calls itself the Federal Reserve when it is, in fact, neither) to create so damned much fiat money that it will produce catastrophic inflation in consumer prices that will destroy the country, just like it has done to every other stupid country in the last 4,000 years that let its stupid government increase a fiat money supply at its whim! Hahahaha! Now you see why I always said you were freaking doomed! Hahaha!” 

The Mogambo Guru, 29. september 

“Now the terrified trio of Bush, Bernanke and Hank want $700 billion just to refinance the U.S. investment banks and their foreign landfill sites, let alone home-buyers, mortgage lenders and house builders. Yet five U.K. banks alone hold $175 billion of qualifying junk — fully one quarter of the sum requested. So no wonder Bill Gross — boss of Pimco, the world’s biggest bond fund, and a cheerleader for governmental intervention ever since Bear Stearns’ hedge funds went “hiccup!” — says the “troubled auction recovery program” will need another $500 billion on top, just for starters.” 

Adrian Ash, 29. september

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