Thursday, Nov. 10th, 2011 – With the developments in the Italian bond market, we see that the Eurozone debt crisis is threatening to get out of control. The costs of operating national governments and keeping cash flow going are becoming an unsurvivable load. Fiat currencies are the equivalent of feeding a starving man, cardboard.
According to the Supreme Court decision in the case Screws vs. United States, public officials are held to a higher standard than the general public. They are presumed to know the law. Filing criminal complaints against clerks for filing false instruments and dereliction of duty would change this situation.
The foreclosure issue is a tangled mess. that won’t go away. Under the surface, the fraud issue threatens to undermine the mortgage industry, Efforts to avoid and evade prosecution only spread the risks and infect every aspect of the economy.
We will be watching who jumps ship to save their hides. Politicians and bankers are thieves to begin with. Now, they’re getting caught, trying to steal from each other.
The debt load required to pay for all of this assistance is an intolerable load against the economy. The only product of government assistance is dependency. Government encourages a dysfunctional society.
The economic house is getting cold. The solution is not to start burning the furniture. The demands are starting to salvage the house for fuel.