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alstry (35.70)

Is Bernanke Next???? What happens to America????

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June 19, 2009 – Comments (11)

Madoff, Petters, Stanford, Scrushy.......Bernanke??????

WASHINGTON – A House panel has subpoenaed documents that lawmakers say could shed new light on Federal Reserve Chairman Ben Bernanke's role in Bank of America's acquisition of Merrill Lynch.

The subpoena comes ahead of a hearing next week in which Bernanke is scheduled to testify.

Lawmakers have accused Bernanke and President Bush's treasury secretary, Hank Paulson, of pressuring Bank of America Corp. Chief Executive Kenneth Lewis into the deal and urging him to keep quiet about Merrill's financial problems.

http://news.yahoo.com/s/ap/us_bank_of_america

What would happen to America if its citizens woke up one morning and learned its entire economy as one big Ponzi Scheme run by the Federal Rerserve just like the clients and shareholders of the above named individuals????

My friends....soon you will learn there is just no money. 

No money to fund out schools.

No money for our hospitals.

No money to pave our roads.

No money for welfare or unemployment.

No money for our military or many dozens of bases around the world.

No money for our police and firefighters.

No money to keep our airports operating.

Unless of course we can convince others to lend us MORE money than they have......Good luck.

Next week could be electrifying!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Prepare.

11 Comments – Post Your Own

#1) On June 19, 2009 at 4:16 PM, RonChapmanJr (98.37) wrote:

Really prepare...

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#2) On June 19, 2009 at 4:34 PM, Evlampius (23.30) wrote:

total bullcrap, another psychotic kool-aid drinker...

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#3) On June 19, 2009 at 4:35 PM, alstry (35.70) wrote:

Ron,

Believe it or not......Alstry is really not a doom and gloomer.  The only thing I am analyzing is the world's biggest bankruptcy.  In the investing world, it sucks if you are an equity player.......in real life I view it more as a rebirth setting the foundation for future REAL growth.

Think of it like the biblical Jubilee days when the incoming King would forgive all debts......Alstry doesn't think of it as the biblical Armageddon.

I know many Fools think Alstry is a doom and gloomer.....but he is not.....Alstry is passionate for ferreting out the facts and drawing reasonable conclusions.

Think of what we are going through is similar to the experience a catapiller morphs into when becoming a butterfly....the process is convulsive.....but when he comes out the other side he is flying high.

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#4) On June 19, 2009 at 4:43 PM, alstry (35.70) wrote:

Evl,

It is not the end of the world....THERE IS JUST NO MONEY!!!!

SACRAMENTO, Calif. – With California slipping into a financial sinkhole, Gov. Arnold Schwarzenegger is proposing to save more than $180 million by cutting short the sentences of thousands of immigrants in the state's prisons and turning them over to federal authorities for deportation.

The idea faces certain hurdles — for one thing, commuting some sentences will require court approval — and immigration authorities warn that a mass release of inmates from California and other states could swamp the federal system, which is already at capacity.

But Schwarzenegger spokeswoman Lisa Page said: "Every dollar not spent to house an undocumented immigrant inmate is a dollar that can be spent on health care services and education and other important programs to Californians. These inmates are the federal government's responsibility and California taxpayers shouldn't be paying the bill."

THE PROBLEM IS THE DEFICIT IS OVER $24 BILLION AND GROWING....A FEW HUNDRED MILLION IS NOT REALLY EVEN A START!!!

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#5) On June 19, 2009 at 4:45 PM, starbucks4ever (99.56) wrote:

Would absolutely love to see Bernanke join Madoff, but there's a little chance they will actually put him in jail after all those trillions that he printed for them...

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#6) On June 19, 2009 at 4:51 PM, brwn8484 (91.07) wrote:

"Loot hundreds of billions through AIG, Fed backstops and liquidity injections, game the share market, re-capitalize through sharking small investors drunk on hope, and then magnanimously pay back a few bil in TARP money so your CEO can re-decorate the summer house in the Hamptons with the $20,000 Italian toilet and $100,000 Persian rug without some know it all screaming about abuse of public money. You have to admire the sheer chutzpa of the Wall St pigmen, if stealing was an art form they'd be Michelangelo."

"Since the onset of the financial crisis nine months ago, the government has become the nation’s biggest mortgage lender, guaranteed nearly $3 trillion in money-market mutual-fund assets, commandeered and restructured two car companies, taken equity stakes in nearly 600 banks, lent more than $300 billion to blue-chip companies, supported the life-insurance industry and become a credit source for buyers of cars, tractors and even weapons for hunting.

The effects are rippling into nooks of the economy far beyond Wall Street and Detroit’s troubled car industry. The massive intervention has shifted the way companies do business in a host of ways — not all of them intended by the government. Increasingly, companies big and small are competing on the basis of their ability to tap government money. A divide is opening between gets and get-nots."

 

Indeed, the party in power may well become the biggest "pay for play"  extortionist in the history of the world.  And I fear the middle class is already dead as we speak.  We can all be sure of one thing... Our lives, our country, our freedoms are being taken away one at a time while the vast majority of politicians sit silently on the sidelines or trumpets the standard party line thst wall street and bankers were the sole criminal conspiritors in this deepening and sad financial mess.

 

 

 

 

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#7) On June 19, 2009 at 5:04 PM, AdirondackFund (< 20) wrote:

Yes, the crash starts in earnest next week.  If you read my other comment to you from a previous post, you will understand how this squeeze is going to be played out.  It is now firmly my opinion that Mr. Bernanke should be taken into custody and arrested for deliberately mismanaging our economy in order to cause it to fail.  The Banking Policies initiated under Mr. Bernanke are not only ILLEGAL, they are designed to in fact suck every last dime out of the U.S. Economy.  Welcome to our "Egghead Depression".

It is now time to storm the Bastille!!!!!!!!!

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#8) On June 19, 2009 at 5:38 PM, hhasia (61.16) wrote:

Ok Lets get a grip on the facts.  The FED Banking Act. When the USA declared bankrupcy in 1933, it went to the FED to strike a deal.

In exchange for the FED printing the notes needed to keep the government running, the Government pledged collateral. What was that collateral? All the goods, services and land of the USA. Read the fine print, the FED owns congress and the business that is the US government ( the corporation of easiest access). That dog wags the tail of the govt, not the other way around.

Think of the FED as the rope. The system the means by which to form the rope into a noose.  Who's the head? the economy and welfare of the "serfs". Get ready for a lynching.

HH 

 

 

 

 

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#9) On June 19, 2009 at 10:43 PM, vaylon1701 (< 20) wrote:

Its still a better system than any body elses.

If you want to see what a true free market economy without any regulations looks like?

Just look at most south american countries.

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#10) On June 21, 2009 at 9:39 AM, brwn8484 (91.07) wrote:

Excu se me ... but it "WAS A BETTER SYSTEM" before we gave up all our freedoms, levied taxes, increased taxes, invited all the enemy terrorists into our country, socialized the banking and insurance and auto industry, invited tax cheats to run our treasury, ignored the crooks and criminals that caused this financial crisis......

 

The list goes on and on. John Maynard Keynes said...

The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.
John Maynard Keynes

Its intersting that the very people who are running our government have bought into the marxist philosophies of a man who knew that only one man in a million would know why (or how) their freedoms and money were being taken away.  

It's not the finacial crooks I'm concerned about.  Read the quote from CS Lewis and you'll know why!

I like bats much better than bureaucrats. I live in the Managerial Age, in a world of "Admin." The greatest evil is not now done in those sordid "dens of crime" that Dickens loved to paint. It is not done even in concentration camps and labour camps. In those we see its final result. But it is conceived and ordered (moved, seconded, carried, and minuted) in clean, carpeted, warmed, and well-lighted offices, by quiet men with white collars and cut fingernails and smooth-shaven cheeks who do not need to raise their voice. Hence, naturally enough, my symbol for Hell is something like the bureaucracy of a police state or the offices of a thoroughly nasty business concern.



-C.S. Lewis, Screwtape Letters, preface Report this comment
#11) On June 21, 2009 at 10:05 AM, dmjst1145 (< 20) wrote:

THE GREATEST PONZI SCHEME IS STARTED 75 YEARS AGO AND ARE STILL IN PLAY.  SOCIAL SECURUTY.  IF YOU RETIRE AT 62 AND DRAW FROM SOCIAL SECURUTY FOR 6.7 YEARS,  THEN DIE THINK WILL BE FINE.  BUTIF YOU LIVE LONGER YOUR CHILDREN OR GRANDCHILDREN WILL BE FUNDING YOUR FRBs.

 

PERHAPS OUR ELECTED REPRESENTATIVE WILL CHANGE THE REQUIREMENTS TO RECEIVE SOCIAL SECURUTY BENEFITS OR UP THE WORKING REQUIREMENTS.....

 

LOL 

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