Sunday, December 21, 2008

Bailout bungling and world unrest intensify

From Reuters:

Japan approved extra funding and Germany pledged new measures on Saturday to confront a financial crisis that has toppled banks, wrecked world growth and now played a part in the demise of Belgium's government.

So if you're keeping track, my personal friends have told me of the unrest in Vietnam. There's civil disobedience in Iceland, $300 million riots in Greece that Time suggests may extend to France and now it's reported that the economic crisis is directly related to the toppling of at least one government. But this should come as a surprise to no one... especially considering that even mega-companies, such as Citigroup, acknowledge that civil unrest is not unlikely. No wonder American risk operatives are considering the possibility of an "American Dollar Nightmare."*

I wonder if Ben Bernanke has the slightest inkling that his helicopter now appears to be hovering over a volcano that's spewing lava into the air... trying to douse it with his Helicopter Money.

Bernanke / Paulson / Geithner all need to go. We should make the move toward sound money to avoid the possibility of civil unrest coming to our shores.

Tim White

* It's worth noting that the "American Dollar Nightmare" would be a nightmare for the American Government, but not necessarily The People. If you hold commodities... there's not necessarily any nightmare. The only nightmare is for Bernanke / Bush / Obama when they realize no one wants their monopoly money anymore... and their House of Cards comes tumbling down.

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