| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
The Broncos Don’t Need “Plan B” – We Better Pray Bernanke Has A “Plan B” That Works
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
truthingold.blogspot.com / By Dave in Denver / October 16, 2012
Plan B? No we don’t have Plan B. We’re goin’ Plan A! - John Elway in response to a reporter’s qustion about what the Broncos would do if Peyton Manning couldn’t play because of his neck injuries - LINK (worth the 12 seconds to see Elway’s grin)
Anyone who watched last night’s Monday Night Football game knows that Elway took a big risk and it’s paying off. He doesn’t need “Plan B.”
But anyone paying attention to the smoke signals coming from the Too Big To Fail Banks understands that, so far, Bernanke’s Plan A isn’t working and he better have Plan B lined up and ready or our entire system could collapse.
Originally I was going to write more about how Citibank’s earnings report yesterday was comprised largely of fictitious accounting gains and was total b.s. But you can read the details here: LINK If you don’t want to read the details, suffice it to say that Citi fraudulently took a big gain from reducing its loan loss reserve at the same time that the default rate in its large home equity loan holdings spiked a lot higher.
Furthermore, despite the view being propped in the media about U.S. household debt levels declining, the truth is that the middle class in this country isn’t deleveraging. The average household is defaulting away its obligations, leaving systemic losses that are either being absorbed by accounting chicanery, per Citi’s and JPM’s earnings reports, or are being papered over by the Fed.
Thanks to BrotherJohnF
2012-10-16 21:43:02
Source:
