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alstry (35.87)

Is It Time For Government To Own Everything?

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November 22, 2010 – Comments (0)

When GM went bankrupt, the government stepped in....wiped out the shareholders and most of the bondholders, and took over control of the company.....

Just last week, Buffett thanked the government for saving Berkshire and the banks from bankruptcy.

No mention of the tens of millions of Americans who were not saved.  No mention was made of GM shareholders or bondholders.....

Clearly a lot of thought went into this letter before it was written as Buffett knew it would get a lot of scrutiny.

Since when, and under what legal basis, did America morph into a nation where so much welfare was distributed to so few and so little distributed to so many?

It is basic fraud to let otherwise insolvent banks lie about their financial condition......and Buffett knows this....it is fraud for banks to make loans that they know can't be paid back......

Bill Gross now calls the Fed behavior more extreme than a Ponzi Scheme.....

Former Bank Prosecutor Bill Black argues banks are operating fraudlently.....

Buffett admits Berkshire would have been bankrupt but for government welfare.......

We now call fraudulently loaning even more money to an otherwise insolvent entity a "bailout?"

As each day goes by....it is getting clearer and clearer to more and more that pretty much everything is bankrupt.....and the bankruptcy is being masked by deceptive accounting and/or fraudulent lending....and our currency has devolved into a printed piece of paper.

By fraudulently lending to some and not others is destroying the fundemental property rights of American citizens......it becomes impossible for those without access to such lending to compete.

We have morphed into fruadulent lending and spending nation......the rule of law has been made a mockery of a mockery of a sham..........and as the law continues to break down.....fewer and fewer will trust.......and if you can't trust.....what is an economy?

If everything is basically bankrupt.....and our currency is being served up for Thanksgiving.......then who gets to hold title to the property in a system where everything inside of it is bankrupt or functioning fraudulently?

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