I recently had the opportunity to see the 2010 documentary titled “Inside Job“, via a rented Netflix DVD. It describes the background and aftermath of the 2008 global credit crisis. I highly recommend it. We are still paying for the mistakes (and crimes) described therein, as the bailout of the financial sector and bubble re-inflation continues, to the tune of $85 billion per month, via Quantitative Easing (QE). Regulators have done nothing to rein in the risk created by the global derivatives casino, which is now even bigger than in 2007. The Fed and the Treasury are busy re-inflating the credit and housing bubbles to even larger proportions. When the next credit collapse occurs (and it will, once B.S. Bernanke and Company lose control of interest rates), it will be cataclysmic for the markets, for the purchasing power of the Dollar, and for the livelihoods of the American people. Be ready for this: Minimize your exposure to Dollars, hedge into tangibles, get out of debt, and develop a second source of income.
Over at Zero Hedge: JPMorgan Says “Buy Gold”
Ron Paul – Bernanke Said The US Economy Is In Bad Shape! He’s Getting Out Before Collapse!
Items from The Economatrix: