George Soros knew all along. . . So did Congress, the Fed and the Banksters.

“The collapse of the financial system as we know it is real, and the crisis is far from over,” Soros said today at a conference in Vienna. “Indeed, we have just entered Act II of the drama.”


Karl Denninger:
The government's refusal to hold The Fed accountable to it's mission has effectively forced people to "invest" in what amount to serial Ponzi Schemes in an attempt to have anything at all for retirement!

Why would government do this? 

Because it forces dependency. 

The problem isn't The Fed, it's Congress.  

Regulation and law without enforcement is no law at all.

When the disaster then strikes we have people cry poverty of foreknowledge, claiming that "nobody could have predicted this" and "nobody saw it coming."

Baloney.

If you drill oil wells with an inoperative blowout preventer than eventually you will drill a hole that blows out and you will be unable to stop it.

If you make liar loans and sell securities based on them claiming to have "good paper" when it is in fact trash, eventually the number of suckers available to continue to ponzi scheme will be exhausted and the financial market(s) associated with same will collapse.

The day in which one may rob a bank or poison a waterway through regulatory malfeasance and corruption and go free, yet the same crime committed with a ski mask, hold-up note and a gun draws a 20 year sentence must end.

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