Monday, July 4, 2011

To Big To Fail: The Backlash Is Gathering Pace

It is time for a beef about 'To Big To Fail'.

People around the world are waking up to the ponzi scheme of debt financing. They are beginning to cotton on that they are the ones being asked to pay for the losses incurred by the greed of the large banks, institutions and individuals. The 'TBTF' (too big to fail) organizations that used easy money from the credit bubble good times from 2000 to 2006.

And what is more, the politicians are in on the game. Their world would crumble if they didn't conform to the ways of the large money organizations that fund their insatiable need for power.

The slow awakening is here, and could pick up pace rapidly. We live in a media rich world and it takes days, not months or years for movements to form and gather momentum. In the markets, it takes milliseconds for prices to make irrational high and low swings. From Tunisia to Greece and the UK, the natives are restless and calling for heads to roll.

Yes, even the dour public service in the UK is now out on the streets. Spain, Italy, Portugal, France, Ireland, the USA are all next. Wealth by stealth is being exposed and people are getting angry. They have listened long enough to the fear talk of bankers and politicians about 'the end of the world' coming if you don't let us bail out the TBTFs.

How is it that normal, hard-working middle-class people are now saddled with the debt that TBTF banks foistered upon them in their greed to make quick profits. Are these people not right in saying the TBTFs should take the losses and go out of business? After all, they took the risk, why don't they take the hit?

We hear the Greek people on the streets telling us that the banks should suffer for their losses and not them. Maybe we think of those Greek workers as lazy and expecting too much from a broken system. But they may be right. Many people are realizing that they were fools in the good times. Binging on debt. Spending their future now. So now they hunker down and begin to pay off this debt. The right thing to do. But lo and behold, they find they are responsible for not only their own debt, but the debt of the people that put them into debt.

And we wonder why they are angry.

No organization is TBTF. Don't believe it. If you do, your kids and their kids may be destined to debt slavery for many years hence. If they aren't already.

World leaders need to get together soon and thrash out a monetary system based on sound stable money values. A true gold standard can work. They should put self-interest aside, otherwise the tumult may only get worse.

The World is too big to fail.

Gold in New Zealand dollars: $1796.59 per oz
Previous all time high: $1955.10 per oz

Silver in New Zealand dollars: $40.91 per oz
Previous all time high: $48.58
per oz

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The Anglo-Far East Company
The Original Private Bullion Custodian
Your reference: an-001
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