“heigh ho the derry oh

the rats take the cheese”

Every night and day the mind conditioning “entertainment” of television parades one or another “authority” on the complex world financial meltdown, giving the average human as much chance of deciphering as the Rosetta Stone. In reality the “meltdown” is the latest step in a highly placed bait and switch, a sideshow sleight of hand based on the basic rule of the midway: “something for nothing draws the rubes every time.”

The financial fraud on the American people has been running nonstop since the House of Morgan with its Bank of England ally purchased enough Congressional influence to establish the Federal Reserve, a privately held bank created to control the currency of the United States, something the Constitution thought better in the hands of Congress.

A few world wars later plus the removal of the gold standard (Nixon, Volker, Greenspan), more colonial wars (Vietnam, Iraq 1, Afghanistan, Iraq 2), removal of wage, price and environmental controls (Reagan, Bush 1, Bush 2), banking regulatory control stripped (Clinton, Rubin, Gramm), appointment of Goldman Sachs executive Henry Paulson as Treasury Secretary to set policy and engineer “bailouts,” Alan Greenspan followed by Bernanke drawing in the rubes through gross scale currency and interest rate manipulation, and the world’s largest three card monte was underway.

The recipe was simple enough: bundle house and commercial property mortgages – good bad or indifferent didn’t matter because the shill depended on volume not quality, declare these bundled debts “assets” (monetizing debt) then sell the “assets” as “financial instruments” to bigger banks, pension funds, money markets and hedge funds. Re-bundle, re-sell the “instruments” over and again nationally and internationally. The world’s biggest insurers join the sharks (AIG, Lloyds) by “guaranteeing” the “instruments,” generating more paper profits by selling more debt while keeping interest rates near zero.

The tent gets bigger and bigger with more rubes on board, ordinary people convinced their house is an ATM machine, the wealthy conned by music men like Bernie Madoff and Allen Stanford. One day the music stops, as it inevitably would, and a few of the gristers were short a chair: Bear Stearns, Lehman Brothers, Countrywide Mortgage, Wachovia Bank, a list of bad actors the people should be dragging to the tar pit with ample feathers but no, Paulson turns on the spin machine with the collusion of industry controlled financial media outlets, Bernanke rolls the printing presses, and the smoke and mirrors declare the side show “too big to fail” the midway “crucial to the country’s welfare” although it’s never grown an apple, a row of corn, made a car, doctored a horse or human, nothing but shell games and cheap toys from China.

At some point the midway must shut down and the circus leave town. People get enough cotton candy and carney tricks, take the few remaining coins and hard earned bucks left in their threadbare wallets and purses and tell the hucksters they’ve had enough sleight of hand and slippery tongue talk – they’re going home. Back to a life where what you have comes from decent work and earnest endeavor, where “something for nothing” is nothing, gristers gold, a cheap fake, and something for nothing is nothing worth having after all.

vpdonhynes.blogspot.com/2009/03/something-for-nothing-heigh-ho-derry-oh.html