Dear CIGAs,
This note from CIGA Annette is so timely.
Today, Volcker fell from grace.
The wheel of a lifelong chariot (right action) descended and touched the ground as Paul publicly blessed the utterances of asset value lies to the public with clean audits. That is so WRONG. There is no redeeming aspect of this decision. Paul’s blessings support the permitting of crime. Permission does not make a crime a right act, nor criminals good people.
Yes, Gold is the only lifeline now, as there is no honorable person left amongst the power brokers who have broken the financial world. There is no earned Karma that demands this group be bailed out.
If Volcker is so petrified of what he sees that he would be willing to give up a life of right actions, as he did today, can you imagine what is really out there?
What happened to Death before Dishonor Paul?
Dear Mr. Sinclair,
This is an excellent article from the NYT (June 1987) to remember whenever Mr. Greenspan makes the rounds in the financial press:
TREASURY NOW FAVORS CREATION OF HUGE BANKS
By NATHANIEL C. NASH, Special to the New York Times
Published: Sunday, June 7, 1987
Top officials at the Treasury Department have concluded that the Government should encourage creation of very large banks that could better compete with financial institutions in Japan and Europe.
The Treasury plan, which would permit the acquisition of banks by large industrial companies, was also endorsed by Alan Greenspan, in an interview before President Reagan nominated him this week to be chairman of the Federal Reserve Board.
Mr. Greenspan said the plan would provide multibillion-dollar pools of investment capital for a banking industry that was ”severely undercapitalized.” Mr. Greenspan has declined to be interviewed while he awaits confirmation by the Senate.
Please also note Mr. Volcker’s opposition to the proposals being floated and later enacted.
Of course Mr. Volcker was replaced shortly thereafter by Mr. Greenspan.
The latest effort they have this most experienced man (Volcker) working on now is a proposal on increasing tax collection…
Gold is truly our only hope.
Best regards,
CIGA Annette
