...he is ACTIVELY DEFRAUDING American taxpayers by GIVING the big banks BILLIONS of taxpayer dollars for their MASSIVELY FRAUDULENT mortgage and financial papers, as he and his White House Staffers and government officials relentlessly OBSTRUCT JUSTICE, much less give a detailed accounting of the titanic "bailouts" larceny to America's besieged taxpayers.
ZeroHedge.com has the dirty details: a "BRILLIANT" Harvard, Yale, or Princeton economist can advocate the SELLING of U.S. gold bullion "reserves," making the very notion of "reserves" FARCICAL, and, what-do-you know, putting BILLIONS upon billions of dollars of TAXPAYER OWNED assets that are soaring in value... into the hands of privileged, entitled, and connected "investors" - who get the INSIDE DEAL on OUR nation's gold.
And this SHEER LARCENY of an "economic policy" WILL BE TAKEN SERIOUSLY by Barack Obama's "Goddamn-Sachs Insider Corruption & Obstruction-of-Justice R Us" White House!
ZeroHedge: Yale Ph.D., And Former Fed Member Tells Obama To Pull A “Gordon Brown” And Sell All Of America’s Gold"Tyler's" exasperation - that the INSANELY CORRUPT Barack Obama White House and Nancy Pelosi Congress would TOLERATE the THEFT of America's gold, for PRIVATE CONSUMPTION ("ownership") by CONNECTED INSIDERS, is echoed in a seemingly unrelated matter by Christopher Whalen at BusinessInsider.com. Whalen forcefully argues that Bernanke & Greenspan's ZERO interest rate policy is DESTROYING AMERICA - is TRANSFERING BILLIONS upon trillions of dollars FROM savers, TO connected insiders who have access to that effectively ZERO Fed "money creation" interest rate money.
by Tyler Durden on 10/12/2010
Edwin Truman, a senior fellow in the Peterson Institute, who is of course a former Fed member, and of course a Yale Ph.D., writes in the FT, suggesting the brilliant idea that it is high time for the US to sell its gold. In other words do precisely what [former Britain Prime Minister] Gordon Brown did a few [years, and a few] thousand percent ago, and now has to defend against allegations he did so merely to protect the LBMA cartel which was on the verge of being margin called into oblivion. And even if one ignores the fact for a minute that there has not "really" been an audit of the US gold holdings in who knows how long, who is to say that Goldman, of all people, may not be right and gold will be at $1,700 in a year? (cont'd)
GOLD is the measure of how much Ben Bernanke - AND BARACK OBAMA - are DEVALUING the U.S. dollar - so "selling" America's gold stocks to private "investors" AS Bernanke, Obama, Geithner, & co. continue to PRINT BILLIONS of fait dollars, ensuring that gold will rise in value in the future, is akin to George W. Bush's RIGHT-WING REPUBLICAN presidency selling huge oil & mineral leases on public lands to private, connected, insider mining cartels in rigged auctions at HUGE DISCOUNTS from the real value of those resource assets.
But our take on Barack Obama's INSANE CORRUPTION and OBSTRUCTION OF JUSTICE presidency tonight is just getting started: as the ZeroHedge article alluded, NO ONE KNOWS how much gold the U.S. Treasury and Fort Knox hold - because, frankly, the government of presidents Bush, Clinton, and Obama have been selling (stealing from the public) America's gold to their insider pals for decades now. As Dylan Ratigan explained on his show tonight:
"...know one knows how crooked the financial system is - that's why they have been PRINTING MONEY to COVER IT UP for the past few years. And that's what's going on right now with OUR HOUSING MARKET in particular .... that's why we all need to demand an investigation, to open the books at Fannie, Freddie, and the FEDERAL RESERVE, and find out how many BAD LOANS, fraudulent loans, were made by banks, and sold to the government, paid for with your money, hidden by the government, and the fees for those loans CONTINUE to BE COLLECTED by the very banks that pay off the politicians."Harvard Law Professor Katherine Porter spent her entire segment on following Dylan's above DR show intro basically saying that it would be IMPOSSIBLE for the United States government to investigate, unwind, and prosecute FRAUD in those tens of thousands of Loan documents that the Banksters SOLD TO Fannie, Freddie, and other government agencies! Indeed, she started her comments with an even more outrageous, blatant bit of DISINFORMATION, saying "It would really require a level of investigation that we've never seen before, it would really be unprecedented to go THAT DEEPLY INTO THE BOOKS" - entirely forgetting that the United States did exactly that just over a decade ago, William Black and other prosecutors sending ONE THOUSAND fraudulent financial officers to prison in the mid 1990s while unwinding the Reagan + Bush-I era Savings & Loan debacle - Ms. Porter seems to be ENTIRELY IGNORANT of William Black, former Director of he Financial Industries Reform, Recovery, & ENFORCEMENT Act (FIRREA, 1989), or the many prominent financial officials who went to prison in the mid 1990s, including CHARLES KEATING, MICHAEL MILIKEN, and CenTrust's David Paul - all the above which we we able to pull up in less than five minutes, putting us, apparently, light years ahead of a so-called HARVARD 'LAW' PROFESSOR!
Harvard Law visiting professor - AND FRAUD APOLOGIST Katherine Porter:Dylan responds:
"It would really require a level of investigation that we've never seen before, it would really be unprecedented to go THAT DEEPLY INTO THE BOOKS, it would be quite hard at this point, because many of these fraudulent... many of these loans that are in foreclosure, go back, were made four, five, six, seven year ago, and as we know, the banks and services did a poor job hanging on to the paperwork, did a poor job documenting these loans in the first instance, so doing the autopsy to figure out just went wrong, and who is at fault would be challenging... THERE is NO REMEDY FOR THE TAXPAYER other than the [future] political process...." [as she rattles of a list of ENTIRELY INCOMPETENT governemnt agencies UNABLE to remedy taxpayers or defrauded homeowners!]
"Considering the amount of money the bankers are paying themselves for this SLOPPY WORK, considering the lack of lending and investment in this country, considering the size of the deficit this country currently has carrying this load, $1.6 TRILLION dollars, professor, and we don't know how much of that is garbage, and the barrier to doing that is 'that it is HARD'?"
Prof. Porter: "Well, it may not be just that IT'S HARD, Dylan, it may be that it DOESN'T MAKE a LEGAL DIFFERENCE"A HARVARD UNIVERSITY PROFESSOR, is making the argument, that THE UNITED STATES GOVERNMENT, is ENTIRELY INCAPABLE of assessing HOW MUCH IT WAS DEFRAUDED in buying BAD and OUTRIGHT FRAUDULENT LOANS from some bankers... and even if the government could figure out that it had been sold FRAUDULENT loans, there is NO criminal remedy the ENTIRE United States "justice" system could find to remedy the American taxapyer losses??!!!
For his part, WASHINGTON POST "financial reporter" Zachary Goldfarb was hardly any better, he basically apologized for TITANIC FRAUD in America's home mortgage and finance industries, by saying that the banks are very powerful players, and they can influence politicians legally, merely by withholding or advancing loans for other projects in a Congressman or Senator's constituency!
THE WASHINGTON POST, HARVARD LAW SCHOOL, and the OBAMA administration, are all APOLOGISTS FOR titanic FRAUD in America's critical financial markets!
And it's certainly not just visiting Professor Porter - HARVARD UNIVERSITY has been PARTY TO ALL this TITANIC FRAUD in America's finanical markets, Harvard University PRESIDENT Larry Summers is STILL, as we speak, INSTRUCTING President Obama on how to CONTINUE TO HIDE all the massive fraud his friends on Wall Street have pushed on the American people!
Dylan: "And the beautiful thing about the way this country is set up that we theoretically call a democracy, We've got a central government that is controlled by the banking industry, that is paying itself hundreds of billions of dollars to administrate this system, while foreclosing on homes that THEY MAY NOT OWN THE NOTE TO, and there is absolutely NO LEGAL RECOURSE whatsoever FOR THE TAXPAYER, is that a basic summary understanding of the current situation, Katherine Porter?
Prof Porter responds: "THERE is NO REMEDY HERE for the taxpayer, other than the kind of political process... Porter rattles off MORE USELESS government oversight Committees - for TARP, for consumer protection, etc.] ...Short of those kind of political and regulatory things, there is NOTHING THAT WE CAN DO."Well, folks, you just heard it from the mouth of a Harvard University "law" professor: the ENTIRE United States government is POWERFLESS to identify, much less prosecute, TITANIC FRAUD in America's critical financial markets!@ The thieves and liars at Harvard should just hand out "acid" tabs (LSD) for the American public, instead of all the insane Neo-Con tripe they are spewing out over America.