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alstry (34.97)

When a Nation Adopts a Culture of Fraud

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August 27, 2009 – Comments (4)

For the past two hundred and thirty years....America has stood for Freedom and Liberty.  It has endured and overcome tremendous obstacles.  It has stood strong when many fell around it.  The foundation for much of America's sucess has been the principal of integrity and responsibility.

Integrity in all aspects of the culture from Government, to its people, to its finanicial system.  Investors from around the world brought their wealth to America for safety from the fleeting financial institutions and economies of their homeland.  America was the place for integrity and safety for their wealth....and we Americans were tremendous beneficiaries of the influx of capital.

Back in March, when we allowed banks to lie about the value of the assets on their books, we threw out generations of trust and accountability in an instant.  No longer would our banks be forced to be truthful about the value of their assets....and could continue to borrow and lend despite their questionable solvency.

If a citizen even remotely tried to engage in similar behavior, if caught, they would be immediately arrested, prosecuted, and likely convicted and jailed for criminal behavior.

For a nation that was founded on the principal that justice is blind.....it has now turned a blind eye to principal.  We are basically living in a culture of fraud and most are too scared to question it.

The only reason citizens are not being forced to face up to the responsibility of our current financial situation is that we have a President and Congress that is spending TWICE as much as it is taking in.....NEVER BEFORE HAS THIS HAPPENED IN AMERICAN HISTORY. 

OUR GOVERNMENT IS SPENDING ILLUSORY MONEY.

Our forefathers would have never permitted the nation for emasculate the principals it was founded upon.  Instead we are permitting insolvent banks to screw the American citizens by tightening credit and charging higher interest rates on money that they ordinarily wouldn't be able to lend.  Our citizens are suffering great distress as a result.  Ironically, we are cheering on the fact that trillions are being deceptively spent that doesn't even exist and in the end we will be held accountable.

At some point, the charade will come to an end....someone will refuse to accept our currency, a war will break out, or some other convulsive event.....when it occurs we will learn, just like many nations that have preceeded us who have similarly tried to fruadulently counterfeit an economy....our nation is broke.....and the longer we fake it.....the more pain will befall the citizens.

At this point our wilful indifference to face the reality is allowing the fraud to perpetuate....slowly the anger is beginning to perculate.....the SEC took a similar perspective to Markopolis' letters warning about Madoff for SEVEN YEARS.  In the end, once Madoff ran out of access to new money, the fraud came to an end.....a similar condition will likely happen to us.......it is just a question of what the triggering event will be?

And how will our government react once it is forced to tell its citizens that it is broke?

 

4 Comments – Post Your Own

#1) On August 27, 2009 at 4:07 PM, alstry (34.97) wrote:

While the bankers and politicians dispense more fraud and BS....the citzens must suffer with the consequences of living with reality

SAN FRANCISCO (MarketWatch) -- Toyota Motor Corp.'s  board voted to close the automaker's Fremont, Calif.-based plant by March, according to media reports Thursday. The plant housing New United Motor Manufacturing Inc., a joint venture with General Motors Co., employs about 4,600 workers, according to reports.

There goes 4600 more taxpayers leaving the burden on fewer and fewer.

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#2) On August 27, 2009 at 4:26 PM, jason2713 (< 20) wrote:

Alstry

Do you think we are the only nation dooping their citzens?  China..the supposed one country that is growing by leeps and bounds, is involved in just as much fraud as our country.

What-chinese-depression

Some excerpts:

Chinese officials have a funny way of counting. When products are shipped from the factory, for example, they are counted as ‘sales’ even though no one may actually buy them.

Well, here’s a question for you: if China were really growing at 8% per year, how come its electricity consumption is going down?

Answer: Because the Chinese bureaucrats can jiggle and jive the numbers for employment, GDP, and inflation. But the number of kilowatt-hours consumed in China is just a number. It is not computed. It is not seasonally adjusted. It is not tortured by statisticians nor tormented by economists. It is just a number. And that number is a smaller number than it used to be.

Oh, and here’s another number. China’s exports for July were down 22% from the year before. Here’s another question: how can an export led economy grow when its exports are collapsing?

Again, we have an answer: when it is not really growing.

According to the meddlers, China is growing because meddling works. China is spending $586 billion (proportionally nearly 3 times as much as the US) to keep its economy booming. The program must be working, say the economists, because China’s economy is still growing.

“Keep in mind,” says The Richebächer Letter’s Rob Parenteau, “China needs at least 9% growth to soak up the 24 million new Chinese workers who come of age each year – something even the Chinese Premier doesn’t like to mention.”

Read the article people, get informed.

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#3) On August 27, 2009 at 5:08 PM, LydiaVorst (< 20) wrote:

Alstry wrote,

"Instead we are permitting insolvent banks to screw the American citizens by tightening credit and charging higher interest rates on money that they ordinarily wouldn't be able to lend.  Our citizens are suffering great distress as a result."

Now, with another turning of the screw on the citizen, bad credit will make it difficult to get a job. Even if, ironically, the reason you are behind on your bills is because you are recently unemployed. See the MSN article below, with the photo of the fearful man in a business suit here:

http://articles.moneycentral.msn.com/Banking/YourCreditRating/YourCreditRatingDyn.aspx?cp-documentid=21179546&GT1=33001

People need to stop being afraid. People need to stop worrying or even caring about their credit reports.  The people need to  take back their government from politicians that no longer have even a pretense of an interest in "promoting the general welfare"  but, rather appear to be bent on the destruction of individual citizens and their liberties.

The Preamble to the American Constitution makes it quite clear why the Constitution was written:

``We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common Defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America."

It was written for the benefit of ourselves and future generations of Americans.

 

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#4) On August 27, 2009 at 10:23 PM, JerseyShoreGirl (< 20) wrote:

Yesterday I suggested that everyone watch Glenn Beck because he is revealing a lot of information this week that no one else in the media is.  Looks like a lot of others tuned in to hear him .. he's blowing away the competition .. Considering he's on a 5pm, he's pulling in a huge audience (for good reason) ..

5PM – P2+ (25-54) (35-64)
Glenn Beck– 3,040,000 viewers (888,000) (1,385,000)
Situation Room—688,000 viewers (141,000) (271,000)
Hardball w/ Chris Matthews—536,000 viewers (139,000) (217,000)
Fast Money—215,000 viewers (55,000) (80,000)
Prime News–267,000 viewers (97,000) (109,000)

Friends, I've been watching Glenn all week and what he is revealing should be seen by EVERY AMERICAN, regardless of party affiliation ....

Well, I found a site that has linked up the entire show (without commercials) for every night this week .. I urge you to listen if you haven't (starting with Monday, of course) .. I think Glenn is providing many pieces to our country's puzzling crisis .. and how we have become a nation that has adopted a culture of fraud. 

Here's the link ..

http://www.patriotsnetwork.com/

 

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