JP Morgan: The $592trillion Ponzi scheme is a time bomb ticking under your house

JP Morgan: The $592trillion Ponzi scheme is a time bomb ticking under your house | Mail Online

Increasing the money supply by loans for speculation at the expense of main street just sucks. Yet the banks are doing that very thing today. Add to this the revelation that CDS swaps insured everyone (including the insurers) in order to play this game and you see why the only party not insured, your government, had to pay up.

We are held hostage to a ponzi scheme that forces bubbles to happen, that forces main street and your government to pay continually. The bankers need more good capital and more bad capital if they can't find good capital. What better way to do this than to bid up house prices, cause a crash, and force the government to have a deficit, and issue more bonds. 

To make it palatable to the American people, the bankers want the safety net pared back. That way there is a bigger backstop for them, and more bonds will be issued without the rich having to pay their fair share of taxes. 

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