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Credit Rating Mirages & Sovereign Illusion Defaults: Where to Perch?
They were betrayed by a Federal Reserve, Treasury and bank funded White House which encumbered or seized assets with opaque unconstitutional force majeure financial coup d’état. They did this without due constitutional legal process, painting rosy economic scenarios that have not come true.
The Commodity Futures Trading Commission and Securities Exchange Commission either did not enforce the rules, or enforced rules and regulations selectively for enemies or friends. The proposed combining of the two under the roof of the Fed, Treasury or a new bureaucratic umbrella may be likely to meet with the same results as the creation of Homeland Security and Department of National Intelligence.
It seems neither the current or last Secretary of the Treasury paid taxes like other Americans. That the Treasury oversees the IRS and Mint might be justified cause for concern. That the income tax system is broken and the US Treasury faces unserviceable deficits cannot be hidden indefinitely.
One of these days people may begin to appreciate our Constitutional fair, productive, transparent, uniform one percent or one mil transaction tax to replace the IRS. They may Does it not make sense to think about whether a transaction is economic before making it? They may appreciate our work to increase easy practical convertibility between dollars and precious metals with GoldX. It is only preserving, protecting and defending our Constitution which defines legal tender as gold and silver.
The billions of taxpayer dollars and debts recently “invested” in AIG, Chrysler, GS, GM and others by government officials may have de facto disappeared into the pockets of foreign counterparties, hedge fund speculators and union funds. We do not know clearly or fully because promised transparency was limited, despite Freedom of Information Act lawsuits and Congressional Inquiries with results rivaling stonewalling by the Central Intelligence Agency, or other government bureaucracies.
That America may face the prospect of becoming a banana republic, drove Copper up +574% from 60.5 cents to $4.08, Gold up +309% from $252.50 to $1033.90, Platinum +572% from $342.10 to $2299 and Silver up +464% from $3.67 to $20.73 so far.
To just catch up to 1980 peaks after inflation, they would have to go much higher.
