If the whole world is too much to think about, let’s narrow the question down to our beloved America. Let me ask you this. What do the Bank of America, the Federal Reserve, Joe Biden, Obama and his Alinsky acolytes and, the OWS crowd have in common? The answer: they have all gone mad, as in crazy, as in insane. They all seem hell-bent on crashing this country to the ground. Is it a conspiracy or is just bad karma that has become contagious?
If it sounds like the old gringo in Venezuela is hyperventilating, it’s because HE IS! Folks, I couldn’t sleep last thinking about the bizarre crap I’m about to share with you. I am boiling over mad, as in angry, as in I want to punch somebody’s lights out and I am scared; very, very scared. here is what put me in this state of mind. As I was finishing up my rounds of my favorite blogs last night, I visited the great Spellchek blog where the author was upset about this Bloomberg article about the Bank of America (BoA). I then went by the always informative Frankenstein Government blog where Brian was also talking about the same story.
That the deposit banking side of Bank of America Corporation (BAC) is Bank of America (BoA) is in trouble and in serious need of recapitalization is not new news. Please read the Bloomberg article. It is a bit difficult to follow so let me try to simplify it. The parent company has an investment arm called Merrill Lynch and a deposit banking arm called Bank of America (BoA). The parent company’s investment rating has been severely down graded by Moody’s to barely investment grade. BoA, a deposit bank protected by the Federal Deposit Insurance Corporation (FDIC), has also been down graded by Moody’s but not nearly as much as for the parent company. The problem for the parent company has to do with the fact that Merrill is sitting on, now get this, $75 trillion of derivatives (think high risk). So, the parent company has this great idea on how to protect their investors. They will transfer $53 trillion of these derivatives to the deposit bank side of the business, BoA, which is protected by FDIC. When I say FDIC, I mean you and I, the taxpayers. And guess what? Mr. Bernanke at the Fed thinks this is a good idea. The FDIC not so much.
Think about this, folks. We are not talking about millions of dollars or even billions of dollar but TRILLIONS of dollars of derivatives. Do you suppose Moody’s will see this a good thing for BoA? Are you beginning to see why I am so upset? This is INSANE! In the Frankenstein Government’s post, Brian linked a short article at The Golden Truth where the author sums up my feelings perfectly:
That the BAC upper management would be so completely devoid of ethics and do something like this is a tragedy. That Bernanke, Geithner and Obama would allow BAC to do this is a testament to the fact that our system is collapsing.
So, going back to the question I raised at the beginning of this post, what do the Bank of America, the Federal Reserve, Joe Biden, Obama and his Alinsky acolytes and, the OWS crowd have in common? I said they were all hell-bent on crashing this country to the ground. No I don’t think it is a conspiracy. I don’t think that Obama and Bernanke and the Bank of America sat down and planned an Armageddon for America. But that is what is coming, my friends. Think about it , please! Look at what is happening in Greece today as they enter their second or third day of a nation-wide strike and hundreds of thousands of people are rioting in the streets. Do you really think that can’t happen here? Well it can happen here.
If the credit bubble burst first in Europe or here in America is not important. When it burst, and it will burst, there will be a world-wide economic meltdown. We already have the OWS idiots in the streets claiming all our problems are due to capitalism. And, who is behind the scenes fanning the flames of violence. Obama and friends, that’s who. Take a look at this post by William McCullough at Political Realities yesterday. He is referring to comments made by Joe Biden while in Ohio:
Biden while addressing a crowd of public safety employees in Ohio declared that if Chairman Obama’s ‘jobs bill’ was not passed then police, firemen and teachers were going to lose their jobs. He also added the horrible specter of rampant crime and mayhem taking to the streets as a result. (emphasis added)
That of course made me wonder was he encouraging that type of violent reaction from not only criminals, but from the anarchists and radical socialists running the ‘occupy’ Wall Street debacle? One might speculate that given Obama’s Alinskyite agenda to tear down and rebuild the country in his own ideological image, that Biden’s statements might possibly be a segway into events of that nature.
Unfortunately, Mr. McCullough does not give us a link to Biden’s remarks. Be that as it may, I do belive these kinds of remarks are a subtle means of fanning the flames of violence. At the risk of being tagged a tin hat, I beg of you, do not under estimate what Obama and friends are capable of doing to stay in power. These are not rational America loving patriots. They are insane with their vision of transforming America.
Let me say this bluntly. Obama, Biden, Reid, Pelosi, Geithner, Bernanke, et. al., are certifiabley crazy for what they are doing. Yet, most of my fellow conservatives think that it is the one man who has seen this coming and has warned us that it is coming and who has a plan to save America is the one who is crazy. I’m referring, of course, to Ron Paul.
If the credit bubble should burst before the elections, there will be riots in the streets of America. people will be in a state of panic. And, Obama and friends, including the MSM, will claim it is the fault of capitalism and because people will be so scared, they may just believe it and that will be the end of the America as we know it story.
If the credit bubble does not burst until after the elections, we are all going to wish we had Ron paul at the helm to guide us out of the chaos and restore the America we all love.
One last thought. This story about the Bank of America and the Fed needs to go viral. The American people deserve to know what is going on.
Well, that’s what I’m thinking. What are your thoughts?