January 3, 2011 – Even with storm warnings all unfurled Wall Street moguls continue to hold comparatively weak positions in gold bullion. They are not naïve, so do they truly believe that they are too big to fail? In a word, yes, or more precisely, the US, which continues to subsidize their excesses, is too big to fail.
With a direct pipeline from taxpayers’ pockets to corporate coffers, the wealth of the top 1% continues to balloon while the average American’s net worth shrinks to nothing. But there is a limit, and we have reached it. As Wall Street’s shenanigans are being exposed on the internet as never before, more and more Americans are seeing the light and refusing to be drawn into the stock market ripoff.
Americans deeply believe in the freedom to acquire all of the wealth our wit and resources allow, but we have an equally strong sense of fairness. Something is very wrong when our states have to let teachers go for lack of funds while the firms that got us into this mess in the first place hand out $90 billion in bonuses to their already overcompensated employees.
As American families watch their life savings evaporate just to stay afloat, it is hard to swallow an economic policy whose purpose, as stated on www.mybudget360.com, is "To aggregate as much wealth into the banking system while eliminating the American middle class by a slow systematic dilution of their currency and financial well being and standard of living."
When the Wall Street house of cards finally comes down the fat cats will rush to gold to preserve their ill gotten gains. Those who had the foresight to be strongly positioned in gold bullion will at last have their revenge.
