Western Rifle Shooters Association

Do not give in to Evil, but proceed ever more boldly against it

Saturday, October 16, 2010

The Banks, Or The Country

Karl Denninger links to Charles Hugh Smith in discussing Foreclosuregate and its consequences; read both articles in full.

Key grafs:

...Either there is due process of law or you have a kleptocracy/"banana republic" oligarchy. At present, that is the decision we face as a nation. If the banking Elites and their partners in the Central State (Fed and Treasury) are allowed to "win" and gut the property laws of the states, then the U.S.A. will be revealed as a kleptocracy/"banana republic" oligarchy.

If state [mortgage and land title] laws are upheld, then the "too big to fail" banks are insolvent and they will fail. Then the question of kleptocracy arises once again: will the banks be allowed to fail as per Classic Capitalism, that is, their owners and managers will have to absorb the losses of that bankruptcy/failure, or will the Central State use its powers to collect taxes and cover the private losses of the Bank/Financial Power Elites? Privatizing profits and socializing losses has been the entire game plan since the global house of cards collapsed in 2008.

It's decision time, citizens. Either the banks/Central State "win" and we are a kleptocracy/ "banana republic," or they lose and the U.S. mortgage/ banking sector implodes and is either formally socialized (i.e. owned lock, stock and barrel by the Central State) or rebuilt from scratch without big banks, Federal guarantees and the Fed's incestuous interventions. ("We create the credit that enables the mortgage, you issue the mortgage, and then we buy the mortgage.")

There is no "fix" or half-measure that can patch this over now...

And when the facts of our "banana republic" status and the death of the rule of law is clear, expect more lawlessness.

From all corners...


Blogger sofa said...

This is the crux of the biscuit.

October 16, 2010 at 5:34 PM  
Anonymous will said...

Denninger's link doesn't work...

October 16, 2010 at 5:40 PM  
Blogger pdxr13 said...

The same laws that no longer protect me and my 3-5 digit finances and life, no longer protect their 11-15 digit finances and lives. They need to consider how valuable all of this paper/digital loot is with the rough touch of hemp around the collar.

I already know the answer: without a working law-based USA, it ain't worth $h1t. Welcome to the jungle, baby.


October 16, 2010 at 5:58 PM  
Blogger Concerned American said...

Fixed link to KD. Thanks.

October 16, 2010 at 6:02 PM  
Anonymous Defender said...

"Rough touch of hemp." That's poetry.

A photographer who tried for years finally got the shot he was trying for last week: The Statue of Liberty being struck by lightning.
Of course it happens quite often. A tall metal structure surrounded by water. Just, people don't catch it.
An omen.

October 16, 2010 at 7:51 PM  
Anonymous Defender said...


Deliberate high-risk, "affirmative action" lending to help people who would never have been able to afford [big, expensive] homes at all, says Andrew Cuomo.
With the knowledge that the bottom was designed to drop out of the economy at any time.

My wife and I bought our sufficient house for $78,000 in 1994 or so. As-is, vintage 1970s fixer-upper, not a McMansion.

October 16, 2010 at 8:29 PM  
Blogger Taylor H said...

Crux of the biscuit? More like the edge of the fire after leaving the frying pan!

October 16, 2010 at 8:31 PM  
Anonymous Anonymous said...

Agree. Good article and well said. However, I offer one correction:
A Kleptocracy as defined by Murphy, is a "government of thieves".

October 17, 2010 at 3:39 PM  
Anonymous Anonymous said...

Their power vs. your feelings.

How will you reconcile those two? Seriously. Will guns be the answer?
You've got to be freaking kidding. This ain't 1775.

October 18, 2010 at 5:20 AM  
Blogger Dedicated_Dad said...

mustmustmust read:

include the comments!

October 18, 2010 at 8:11 AM  

Post a Comment

Subscribe to Post Comments [Atom]

<< Home