Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in
ArticlesNewsFlowGold & Silver PricesMarket Briefing

Well Meaning and Clueless, or Reckless and Self-Absorbed

IMG Auteur
Jesse
Le Cafe Americain
Published : December 03rd, 2014
390 words - Reading time : 0 - 1 minutes
( 1 vote, 2/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Disclaimer
Category : Crisis Watch


The Bailout
“When bad men combine, the good must associate; else they will fall one by one, an unpitied sacrifice in a contemptible struggle.”

Edmund Burke

In general, I to to apply the maxim that one ought never to attribute to bad intent what can more easily be attributed to well-intentioned stupidity.

I bring this up now, because I continue to struggle with the thought processes of a government and a central bank that seem intent on creating another bubble and subsequent financial crisis.

The first time it was shame on them, and this was the tech bubble and Y2K, that were quickly forgotten in the tragedy of 9/11.

The second time it was the housing and credit fraud bubble, and it was shame on us for idly standing by and allowing ourselves to be robbed and denied justice in the bailout. But in our defense, frightened people often agree to do and accept foolish things.
I also wish to remind ourselves of the obvious, that this is not the US or the Fed acting alone.  There seems to be an almost unnatural unanimity in this amongst the Western powers.  The bubble breaks, and some people somewhere are victimized, even if they had relatively little to do with it.  The story is always painted, that they are lazy and foolish, and had it coming to them.

Will there be a third time, yet another financial crisis that shakes the financial system?   Powerful and reckless people often find the changes enabled by a crisis to be both rewarding and exhilarating, in the exercise of raw power and the stuffing of their own pockets.

So, if there is in fact a third financial crisis in the world, we might well expect to see the furtive hand of the financial system reaching into the public's pockets once again, supported by their politicians urging them to give way to save themselves.  And this may happen again in any part of the Western world.

And at that point the most effective course of action may be for the public to gather themselves as a people and say 'enough!'  And with all due process, civility, and respect for justice and the law, to cut that hand off, figuratively speaking.  And then they may proceed on to the difficult business of reform.

Have a pleasant evening.
<< Previous article
Rate : Average note :2 (1 vote)
>> Next article
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
MOST READ
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Gold Editorials | Gold Resource News | Gold Fundamental | Gold Discoveries and Drilling Results | Gold Exploration and drilling | Gold In the News and Medias | Gold Most Read Press Releases | List of Copper mining companies | List of Lead mining companies | List of Nickel mining companies | List of Zinc mining companies | List of Gold mining companies | List of Silver mining companies | List of Platinum mining companies | List of Diamonds mining companies | 金銀市價 | सोने_की_कीमत_और_रजत | Precio del oro y plata | أسعار_الذهب_الفضة | ราคาทองคำและเงิน | gold und silberwechselkurs
Contact us Privacy policy Disclaimer About us
copyright 24hGold