Amazing text on the stark realities that face us today. Should people in full faith respect contracts with financial institutions that have over the decade done nothing but sell you short for every sort of profit possible… Where is the breaking point?
The ‘bailout’ of big Wall st. banks will most likely backfire. Apparent reserve requirements of these banks has been done with ‘assets’ that are actually none at all… its basically fraud. If this thing blows up again (which the way things are going looks like ti will) the blow up will happen on the balance sheet of our government and the Federal Reserve —- which is what backs the dollars value…. So basically in a nutshell our over leveraged, greedy, fraudulent banks have not only bankrupted the public but they also have sold off there ‘toxic’ no for good assets to the the Fed and government which is now backing the value of the dollar.