In the "House" the Fox will still rule! The oppinion of thse masses means squat!

The following outlines sequentially what we are "entitled" to expect!

THE FACES OF THE POLITICIANS MAY BE DIFFERENT THEIR OWNERS ARE NOT

In advanced, sic failing, democracies such as America, both political parties are owned by the bankers who control the government and the nation by controlling the flow of credit. Although the will of the American electorate was overwhelming opposed to the bank bailout bill, the President, congressional leaders of both houses and both parties, and the two presidential candidates were united in their support of the bailout bill and were consequently united in their opposition to the will of the people.

Democracy, gas become Government of the sheep, by the shepherds, for the wolves.

L.A. Rollins, The Devil's Lexicon.

THE CASINO OF PAPER MONEY

Our present economy is best understood as a casino. In the casino, house chips in varying denominations, e.g. dollars, euros, pounds, pesetas, pesos, yuan, yen, krona, drachma, won, etc have been substituted for gold and silver.

This is because the casino is run solely for the profit of the bankers; and through control and issuance of their paper chips, the bankers are able to control much of what happens on the casino floor.

The bankers make sure that the governments who issue the paper chips do so at the direction of central banks. Through their influence over the central banks, the bankers control the flow of chips without which the patrons cannot play.

Question: Who are the patrons and what role do they play in the casino?

Answer: The patrons are the producers, savers, and entrepreneurs without whose activities the casino would come to a halt. In the casino, they are known as marks, suckers who provide the on-going profits of the casino.

The casino’s hidden skim: Through the constant issuance of paper chips, governments insure the value of previously issued paper chips will fall thereby forcing patrons to gamble their earnings at the casino tables in order to preserve their paper savings and to perhaps gain by so doing.

The casino’s hidden advantage; While the casino patrons, sic marks, can only bet their earnings and savings on a 1:1 basis, in the private gaming rooms upstairs, the casino owners are able to draw on house credit and leverage their bets by 20, 30, or even 40 times their original sum.

What went wrong: After 1999, the casino owners began betting the savings of the downstairs patrons (bank savings deposits and insurance investments allowed by the repeal of Glass-Steagall) and bet this money on subprime CDOs, credit-default swaps, derivatives, emerging market equities, commodities, etc. and used house credit to leverage their bets far beyond the original amounts.

At first, winnings skyrocketed driven by the vast amounts of leveraged money available from the repeal of Glass-Steagall, providing even more incentive for the casino owners to borrow and wager even more. But, in 2007, the luck of the house changed

Even in rigged games, if the sums bet are large enough, the losses can be staggering and can break the bank, sic the house/casino. With bets leveraged 40:1, a fall of only 2.5 % completely wipes out the bettor. A fall of 100 % takes out not only the bettor but the enormous amount of credit extended to the bettor by the house.

Some of the losses incurred by subprime CDOs are as high as 90 %. The losses on Lehman’s bonds are over 90 %. The reason why financial markets are in such trouble is the trillions of dollars in credit extended by the banks is now gone and, as a consequence, almost all banks are bankrupt.

With the casino now broke, governments have announced that they will guarantee the value of all paper chips issued by the casino. Governments do not want bettors to cash in their paper chips because they know the banks are broke and do not have the cash to cover either their bets and/or the chips they issued.

Now the casino patrons are being forced to subsidize the casino while their governments are frantically issuing more chips hoping that by so doing the now terrified patrons will return to the now empty tables and continue to bet what little they have left.

Good luck.

The full article can be read on kitco.com.

RUF

Anybody out there actually cast a ballot? For what?