Financial Elite’s Behaviour Has Opened Floodgates for Gold
By: Lorimer Wilson
www.FinancialArticleSummariesToday.com
In spite of philosophical differences in many areas of politics and economics, Ron Paul and Simon Johnson agree that the cosiness that exists between the U. S. Congress and the financial elite has not worked, and is not working, in the best interest of the average American. They both suggest that major changes must be made in that relationship to strengthen the American economy. Is it too late, however, to avoid the repercussions of an even weaker greenback, rising inflation and the opening of the floodgates in the price of all investments related to gold and silver?
"When Treasury Secretary Tim Geithner was Chairman of the New York Federal Reserve, he urged AIG officials not to disclose to the Securities Exchange Commission relevant details of agreements with banks to bail out Goldman Sachs. Apparently he felt at the time that regulators and the public would be angry that taxpayer money was used to fully compensate bankers who made some horrifically bad investment decisions. These banks should have suffered the consequences of the huge risks they were taking. After all, they kept plenty of rewards when times were good. Instead, the Fed found a way to socialize these major losses so these banks could survive and continue making more bad decisions, at the expense of the American people and the value of the dollar." So says Dr. Ron Paul in a recent article entitled 'Why the Fed Likes Independence'.
Paul's comments are a perfect follow-up to earlier comments by Simon Johnson in his article entitled "The Quiet Coup" in which he said that the finance industry had effectively captured our government going on to say:
Financial Elite’s Behaviour Has Opened Floodgates for Gold
Editor-in-Cheif
Lorimer Wilson
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