jerry
24th December 2014, 22:51
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Financial writer Bill Holter says the record stock market does not reflect reality. Holter explains, “This will go on until it doesn’t. Very quietly, this past week, they postponed the “Volcker Rules” for the banking system.
The reason they did that is they can’t allow the Volcker Rule to come into place. That would require increased capital ratios. It would bring mark to market back. We live in a financial fantasy land, and they need to continue the fantasy to prevent collapse.”
The recent spending bill passed by Congress, which puts taxpayers on the hook for more than $300 trillion in future derivative losses, is another ominous sign financial trouble is coming. Holter contends, “It tells me that they know something. They know something we suspect, and they know something they don’t want to tell us. They know a crash is coming and they are preparing. For the Republicans to vote “yes” on this after they won a landslide election is throwing the voters under the bus. People voted for change and we got change, but it was change into a greater direction of taxpayers being screwed.”
Financial writer Bill Holter says the record stock market does not reflect reality. Holter explains, “This will go on until it doesn’t. Very quietly, this past week, they postponed the “Volcker Rules” for the banking system.
The reason they did that is they can’t allow the Volcker Rule to come into place. That would require increased capital ratios. It would bring mark to market back. We live in a financial fantasy land, and they need to continue the fantasy to prevent collapse.”
The recent spending bill passed by Congress, which puts taxpayers on the hook for more than $300 trillion in future derivative losses, is another ominous sign financial trouble is coming. Holter contends, “It tells me that they know something. They know something we suspect, and they know something they don’t want to tell us. They know a crash is coming and they are preparing. For the Republicans to vote “yes” on this after they won a landslide election is throwing the voters under the bus. People voted for change and we got change, but it was change into a greater direction of taxpayers being screwed.”