"If the Fraud Stops, The Financial System Collapses"

[Bones]

Guest Post: The United States Of Organized Financial Crime - "If the Fraud Stops, The Financial System Collapses" | zero hedge

It's depressing that the United States' financial system is rife with fraud. Smarmy lying crooks like Ben Bernanke and Timothy Geithner get away with monetary murder while a good chunk of the working class commoners struggle to pay for food and rent.

I wish 'End the Fed' was more than a mere slogan.

 

[loosecannon]

there is a LOT of truth to that entire premise

 

[Sallow]

there is a LOT of truth to that entire premise

Sure there is..

But it's the sort of thing that needs time..and a slow careful audit to sort out.

And maybe one of the cases where the "cure" is worse then the disease.

Ugly as that may be.

 

[Revere]

Banks had some usefulness to the American public when they were actually making loans to them.

 

[loosecannon]

there is a LOT of truth to that entire premise

Sure there is..

But it's the sort of thing that needs time..and a slow careful audit to sort out.

And maybe one of the cases where the "cure" is worse then the disease.

Ugly as that may be.

It will never be sorted out and while I seriously doubt that the cure is worse than the disease we as a society made a firm choice not to find out when we committed to saving "too big to fail" banks rather than risk a rumored economic Apocalypse.

That single fact, that social concession, dooms us. We are still debt slaves and we have no possible remedy for our condition. Whereas if we had said "fuck this shit" and raised hell we could have fixed our core problems.

It's the ancient "he who would choose security over freedom, deserves neither" conundrum. IMO.

 

[loosecannon]

Banks had some usefulness to the American public when they were actually making loans to them.

Sort of, on their best day private banks are somewhere between pushers and docs pushing experimental prescription cures.

 

[william the wie]

The fraud will stop and the financial system will collapse one way or the other within the decade. As to abolishing a Fed that has no longer has a banking system to lend to I kind of doubt it. Like the British colonial office it will keep on going and growing.

 

[Revere]

Banks had some usefulness to the American public when they were actually making loans to them.

Sort of, on their best day private banks are somewhere between pushers and docs pushing experimental prescription cures.

Before government crashed the system by demanding they make loans to people who could not pay them back.