Michael Krieger - The Giant Cover Up

The Giant Cover Up

By Michael Krieger
Zero Hedge
Published: November 11, 2010

From Mike Krieger of Kam LP

An end to "banking as we know it" is fine with us. The "banking" in today's Western economies is simply a monopoly-distribution point for the dissemination of fiat currency. Central banks have got to distribute money through banks because the alternative – simply distributing it to people – would reveal the scam for what it is. By filtering the money-printed-from-nothing through banks, the process retains a mysterious quality. It is also rendered more complex, which is necessary when one is promoting a Ponzi scheme. Finally, bank distribution allows for a debt add-on that further controls the process. The situation is incredibly destructive, ruinous and benefits, essentially, on a very people who are the most direct beneficiaries of central bank funding stream.

– The Daily Bell, Staff Report
http://www.thedailybell.com/

The Giant Cover Up

Much has been written about QE2, too much really. However, today I want to take a step back and look at it from another angle. QE2, or the latest round of Federal Reserve quantitative easing is in all reality just a move of extreme desperation by what Max Keiser appropriately calls “financial terrorists” to cover up the recent coup d’etat of what was left of America’s wealth by special interests across the spectrum from politicians themselves, the military industrial complex and crucially the big Wall Street firms that gamble with taxpayers money all the while calling themselves banks. At the center of the theft is and continues to be the Federal Reserve. Using the financial collapse of 2008 as a smoke screen, the totally bankrupt large Wall Street firms using their puppet ex Goldman Sachs CEO and then Treasury Secretary Hank Paulson sufficiently scared our politicians to give them unlimited sums of money, suspend accounting for their bad assets and then go right back to gambling again and paying huge bonuses all the while never accounting for their assets at market value. The hope from the perspective of the Federal Reserve has been that by pumping virtually unlimited amounts of newly printed money into the banking system (which is what quantitative easing is) they could create another fake Keynesian economic boom that would get people back to work and back to sleep again. Housing prices would start rising again and none would be the wiser until the system collapsed again a few years later (which it would be guaranteed to do) but then it would be much too late to stop it.

Continued. . .