If We Had Memories, We'd Remember The 30s

As thousands of poor souls are trying to get their retirement money back after the collapse of asset-backed commercial paper (ABCP) notes, I have mixed feeling for them.

On the one hand, these are regular, hard-working, trusting individuals who thought they were investing conservatively in what amounted to a sure thing. These people have been directed by financial advisers, banks, money managers, etc, to invest in these "low-risk" investments after watching ads showing their friendly, non-threateningly pudgy banker as someone who can "join the family," or "earn your trust."

On the other hand, I am tempted to say that they got what they deserved. As callous as that sounds, it is true: the information has been out there for all to find that there is no such thing as a low-risk investment and that this - or any other disappearance of investment capital can happen at any time with warning. More to the point: that it is part of a deliberate scheme that has repeated throughout history.

Now, to be fair, if only truthful history and finance were taught in school, or if these subjects were covered regularly and truthfully in our news media, I'm sure that almost none of these people would have invested in the first place. Who would invest their hard-earned in a system that is set up to steal it?

Historically, in the good times the stock market is a place of complicated and exclusive dealings of the super-elite.

Then, suddenly, one sees a massive increase in the baiting of average Joes to get into the stock market. Take the massive increase in financial services advertising in the last ten years - or, especially, in hugely misleading and baiting day-trader advertising - services such as E-Trade have exploded out of the gates, getting their services up and running almost as soon as the servers for the commercial Internet were built, then dropping ads that male you feel as if using E-trade will make you rich overnight (when, in fact, just like any form of gambling, the vast majority of investors lose money to the house in the lung run).

This type of baiting has only meant one thing in history: CRASH. The common people are used to float the boat as high as it will go, then they are liquidated when it sinks. The attempted bail outs of the 30s, 80s, and 90s (and soon the 2000s) accomplish nothing - the market still ends up bottoming out - except protecting the paycheques and payouts to the boards of the corporate perpetrators of these scams. The Bear-Stearns and S&Ls of the world are bailed out - while Average Joe is screwed. People's entire portfolios (and even cash bank accounts) are liquidated.

Perhaps now people will wake up, learn about how these banksters are scamming them, remove all their money from the fiat banking system, and buy silver and other precious metals. Because, when it hits the fan, you'll still be able to buy clothes and food with silver. Don't believe us? Just try buying anything with your ABCP investment now!

Posted by Enjneer at 9:33 AM