"How Do I Protect Myself From This?"

11-05-2010 • Market-ticker.denninger.org/

It's your dollar. This nation is yours. It's currency is yours. And the actions of these people - Bernanke, Congress and the rest - ultimately only happen because you consent. Are you going to continue to consent? Once more, can I ask why? Do you like being screwed? Do you like high taxes - especially illegally-imposed back-door taxes used to fill in the holes in the fraudsters' balance sheets - the very holes that were created through the process that caused you, or your neighbor, to wind up with a bubble house and an un-affordable mortgage - one that was or will be foreclosed upon? Let's assume you refuse to continue to consent. If you choose to protest, to withdraw consent, and to engage in every lawful act available to you to stop it, when do you consider the job "done" and stop? That's up to the politicians, but I'll put forward my standards for what would be "sufficient" for me to call my job done and stop writing Tickers. The politicians can choose tomorrow to initiate forensic audits, mark everything to the market, force the bogus loans out into the open and, likely, take these firms into receivership. Detonate the bad debt, renegotiate the loans that are viable and have a lower loss in doing so rather than foreclosing, clear the balance sheets. Break the big banks up, bar the executives from any financial or publicly-traded firm for life. Refer anything crooked found to prosecutors with instructions to not only prosecute but seek forfeiture of all the ill-gotten gains. Impeach Bernanke and make clear, through changes to law if necessary, that "price stability" means just that - we all go to the store seeking mild deflation every day, and we insist that The Fed both stop trying to prevent it and leave those with savings able to earn a decent low-risk return by ceasing their tampering with interest rates and protection of scammers and frauds. If and when they make that decision, we the people stop, because we will no longer have anything to be ****ed off about. Until then, we don't - and if that means that the banksters and politicians wind up with hair down to their ankles, a leaky roof, a broken car and a hundred people waving signs in their faces every time they open their door? So be it.