I believe your prognostication is too aggressive. We will suffer a depression at some point, but I think they can kick the can down the road further. Yellen is already paving the way to reverse course on the taper. The only question is 'when' will the system suffer a correction of all the free money pumped into the system over the last 6 years! I'm afraid all the 'younger' people on these boards do not have any idea what we are talking about.....they will call you a Doomsday Prepper.....unfortunately, they never really lived in a 'free' enterprise and democratic system and do not know what it looks like.
All those created with debt likely will and that may hinge on the percentage of the Yuan to be backed by gold, the higher the more decimation it will bring. I wonder what the threshold amount to cause that effect might need to be? 40% perhaps?
If that is the case, then, just like in Iceland, we MIGHT (emphasis on “MIGHT”) just see some banksters having jail cell doors slammed behind them. That would be the just outcome. But who says there is any “justice” left in America? The fact that they probably realize this also means they’ll do whatever it takes to drag out the day of reckoning to some unknown future date measured in many more months or years.
The thing about that strategy is the farther into the future it takes for your rumor to actually take place, the more draconian will be the penalties assessed. Or as Howard Beale’s line (by Peter Finch) on Network went, “I'm Mad as Hell and I'm Not Going to Take It Anymore?” That, of course, is an allegory for the suffering that will transpire as many Americans find it is THEY who will be taking a wheelbarrow full of greenbacks to the market for a loaf of bread.
If you’d like to post a lineup of your predictions as to who these future jailbirds will be sharing cells not too distant from Bernard Madoff, please cast your votes.
He took it upon himself to request a taxpayer bailout of the largest financial firms, of which his previous employer, Goldman Sachs, richly rewarded him upon his return for his TARP support. Meanwhile the mega-banks that received TARP money gave their employees large bonuses and expensive company paid outings. Main Street businesses were unable to get loans from the very banks that received taxpayer assistance.
Those listeners to the Lush Rimbaugh rant will remember his support for the banks receiving the money, remarking that it was theirs to spend as they saw fit. Most of the rest of us would have stated this much differently. Rimbaugh might try to sugar coat this to make it seem like he sides with the People us, but we remember what he said about the banks being able to spend this money any way they saw fit.
You will NEVER hear Rimbaugh, by the way, making comments about the true nature of our economic debacle, which is the issuance of worthless “legal tender” by a private central bank, the Federal Reserve, a clear violation of the US Constitution, which he frequently states he ardently supports. Huh? He will NEVER state that specie is the true money of the United States, as it should be of all other countries internationally that deal with this country. That should tell you how wide and deep the corruption is by those that like to tag themselves as “conservatives” and populate most of the airwaves with their propaganda. In other words Rimbaugh is far from being alone on the airwaves as one who refuses to acknowledge the elephant in the room, unconstitutional counterfeit fiat monopoly money (the US Dollar). Further, he took it upon himself to mock Chris Savvinidis (Captain Midnight) for his public protest in the Occupy Wall Street protest. These are the people who will suffer because of those without the courage to use the electro-magnetic spectrum in the furtherance of true justice as cast into law.