I hope you’re already signed up to Mickey Fulp’s free (yeah, free) membership subscription service. If you’re not, here’s the link to go learn all the about the guy and get yourself organized.
Anyway, I wanted to share with you an excerpt from the latest Mercenary Musing that hit my inbox last night. The general subject was on the ownership of gold (something I fully agree with doing and for the very same reasons as Fulp), but this paragraph made me laugh and shout “Correctooo!” at the same time.
“…The Executive comes to Congress screaming “World financial collapse imminent unless we act immediately and decisively.” Congressmen without bothering to read the bill vote for taxpayers to “loan” $170 billion in bailout dollars to AIG. This monopoly money is then created by the Fed with a few strokes of the keyboard. AIG gives $165 million (less than 1/1000 of the new money created) to its executives as retention bonuses. After all, these are indispensable employees in great demand in the world of financial engineering. Who else could they find to perpetrate the chicanery of their toxic credit default swaps and collaterized debt obligations? These derivative instruments were so efficiently disseminated thru out the world that even a municipality in Norway went bankrupt….”
Eschew solid male bovine waste material. Read Fulp.