16 Mar 2013

Former US Treasury Official - US Financial System To Collapse

I can point out three giant bubbles that threaten the remains of the American economy ... When these bubbles pop, the consequence is obvious:  The wipeout of the remaining wealth from bond and stock collapses, and a very strong domestic inflation from the rise in the import prices.”

... It is frightening, and it shows the extent to which the economic policy of the United States is misused in support of four or five big banks that are ‘too big to fail’ ... We now have one bank, JP Morgan, which has derivative exposure equal to the (entire) world’s GDP.... 

How are you (the Fed) going to contain the inflation?  Are you going to jack interest rates up and wreck what little is left of the economy?  The whole thing is a disaster waiting to happen.   And they (mainstream media and government officials) avoid it.  There is no talk about it.  It’s so obvious.  How can you not see it?  And yet they never mention it.  So I just feel compelled.  It’s my responsibility to mention it.”

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