Why are Americans in the street? The reasons abound and it’s a sad commentary on our country that more people are not in the streets. It’s the bread and circuses phenomena, the great hoarding mass is obsessing over the modern day gladiator battles, while suckling on a teat that mainlines toxic sustenance directly to the moribund corpse.
If people did manage to tear themselves away from the television and understand what is occurring around them, they might actually start to feel some emotion again. All those retirees and investors who look at their investment account statements and think they mean something….well, they’re all fiction. Numbers created out of thin air……..the real money long gone, blown up some traders nose and sent abroad through wire transfers and trades…..The question always,
“If all the investors and account holders wanted real money instead of statements, could our financial system convert?”
Just think that through. If any portion of the invested world wanted to cash in the chips and convert the alleged assets into something fixed….say gold or real estate or farmland, could Wall Street cash them out? And if Americans wanted their money out of bank accounts to buy anything or just to see what their money in bank accounts felt like in $100 bills, could the banking system cash them out?
Chew on that one for a bit…..
CITIGROUP is lucky that Muammar el-Qaddafi was killed when he was. The Libyan leader’s death diverted attention from a lethal article involving Citigroup that deserved more attention because it helps to explain why many average Americans have expressed support for the Occupy Wall Street movement. The news was that Citigroup had to pay a $285 million fine to settle a case in which, with one hand, Citibank sold a package of toxic mortgage-backed securities to unsuspecting customers “” securities that it knew were likely to go bust “” and, with the other hand, shorted the same securities “” that is, bet millions of dollars that they would go bust.