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Thursday, August 11, 2011

What is really wrong with our ECONOMY?

Standard and Poor's is just one of three rating entities - the other is Moodys and the one that I am about to mention Fitche.

Now, here is the joke that we must all pay attention to.

Those of us who were alive and thinking in the year 2008 - remember the sub-prime loans and derivatives - mostly worthless loans - that banks and entities like J.P. Morgan and Goldman Sachs - passed on to these rating agencies to evaluate.

Guess What?

All these three agencies rated the worthless, fake, dubious sub-prime loans and derivatives - and gave them a AAA+ - rating.

Imagine rating cow dung AAA+ - that is what these rating agencies did. This analogy is not far from truth - these boxes and boxes of sub-prime documents and derivatives - are sitting and no one has the guts to analyse and rate them - now.

Missing in the millions an important document linked to these loans - "assignment of mortgage".

Hired guns with no knowledge what they were doing were hired to sign as Presidents and Vice-Presidents - to create these vital document - years after the mortgage documents were evaluated, re-sold three, four, five times. All this by those who were GREED the likes of Goldman Sachs and J.P. Morgan - Bernie Madoff.

What are these worthless over $600 billion - derivatives and sub-prime loans - still floating around - worth?  You guessed it - crap.

So, now that that one of these three rating agencies has awoken up - namely, Standard and Poor's and dared to rate our Treasury Bonds as AA+ - there is a hue and cry - why?

For years S&P have been farting - and we have been nodding our heads. Typical of folks that are NOT educated on issues. Typical of folks that cannot analyse - and listen to our Main Media and all the crap they talk - about our ECONOMY - that is spiraling downward - and will take years to - recover.

Ten years if not more.

In fact Standard and Poor's made a mistake - they underestimated the amount - that is the total debt our Nation owes - by $2 trillion dollars!

Moody's and Fitch are sitting on the fence and laughing at our Nation - while laughing all the way to the bank.

So are the rogue large Financial Institutions - like J.P. Morgan and Goldman Sachs - making hay while the sun shines.

It has not deterred these large financial institutions,  today - after all the ploys and machinations - to give their Presidents and Vice-Presidents, others - millions of dollars in bonuses.

All this while millions are out of work, have lost their savings, are suffering from hunger - how EVIL can one get?

Where is the compassion, the standards, the ethics?

In fact these large financial institutions work closely with the U.S. Government, the U.S. Treasury, and those that are involved in ploys and machinations on the highest level.

The victims of all these shams - The United States tax payers - you and me - those that continue to pay our taxes.

Here is a solution that needs some balls - and no one has them.

Revert to the GOLD STANDARD - and just like that everything else will fall in place.

This was done before - not too long ago - by Richard Nixon - yes, that President that was removed from office, a Republican - but check the facts - he did it.

The over $600 billion derivatives must be taken off the books.

The banks told to pay all their loans. Entities like J.P. Morgan and Goldman Sachs - taken over.

All banks strictly controlled - in particular Citi Bank, Bank of America, Chase Manhattan, Wells Fargo - and the others that I can but will not name.

Consult Carl Levine the man did a good job - reading thorough the thousands of pages - consisting of shams - and exposing Goldman Sachs for what they are - in a Congressional hearing.

Exposing shams - the kind never seen in recent history - linked to finance and fiduciary responsibilities.

Notice, recently how AIG is going after Goldman Sachs and Citi Bank. Then soon others will be going after Wells Fargo and Bank of America. One thief going after the bread crumbs of another - thief.

Our Nation is in peril -unless we revert within a short time to the GOLD STANDARD.

Millions of dollars are now being stashed in some big banks.

The banks are imposing fines just to stash these millions of dollars.

In the meantime the Federal Reserve ( which has nothing to do with our Federal Government) as we know it - is printing billions of dollars.

The Federal Reserve Bank recently bought $20 billion of our own Treasury Bonds - think about this transaction? The deeper you think about this episode - the clearer the picture - gets.

Just like the agencies that rate our Credit Cards - these entities that rate our Treasury Bonds - are inept, immoral, and have no ethics.

One of them was caught this time with their pants down and the hands in the cookie jar - S&P. Moodys and Fitche are the same - if not worse.

In the meantime Wall Street is becoming a place to watch - ping pong. Today we loose hundreds of points and some one gobbles the shares - the next day - we gain some - and some one makes millions - just like that.

Those that have billions to spare are the ones making more. The ones that have some are depleting their accounts - time to stash your money in your mattress!

Wake up America.