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The Fourth Reich

US Commentary

It is historical fact that the United States “recruited” heavily from Hitler’s “Third Reich”, the Nazi regime which terrorized the world before and during World War II. Primarily, the U.S. wanted Hitler’s scientists, which it used to construct the world’s first Doom’s Day weapon – which it then immediately used on Japan, twice.

Given this disturbing pedigree; it is not entirely surprising that the United States has risen up in the image of Nazi Germany. The parallels are stark and numerous.

It has created the world’s largest war-machine (even more dominant than Hitler’s). It has turned its former democracy into a fascist, two-party dictatorship. It has no respect for international law. It has no respect for its own, domestic law.

The U.S. Constitution might as well have been burned, as this two-party dictatorship routinely ignores its mandates, passing illegal “laws” which flout those provisions, generally in the name of stripping personal liberties/human rights. A nation which used to be famous for building highways and bridges now devotes nearly all of its construction dollars to building secret prisons and hi-tech surveillance facilities (while its highways crumble, and its bridges collapse).

Like the Third Reich, the Fourth Reich is a rabidly racist and xenophobic regime. It has alternated hating/fearing/persecuting blacks, Latinos, (non-white) Muslims, and any other demographic not WASP’ish enough to meet its standards for racial purity.

Like the Third Reich; the Fourth Reich is an extremely belligerent regime. It indiscriminately engages in the use of military force, leaving a large wake of dead, innocent civilians in its litany of war crimes. It tortures, it detains people without charges, without evidence, and without habeas corpus (i.e. “indefinite detention”). It claims the “right” to assassinate anyone, anywhere, simply by pointing its finger at a target and claiming that they “deserve it”.

Perhaps more disturbing are the efforts of its massive propaganda machine to warp the minds of its own population. The resultant cultural insanity – this Binary Insanity – has made the U.S. population literally incapable of even considering “moderation”, in anything.

Deliberately divided into two opposing, hate-filled political camps; there is no longer any objective Truth in the minds of these Binary Drones. Rather, every single issue in their lives has either a “Republican truth” or a “Democrat truth” (depending on the political affiliation of individual drones).

But where objective Truth does not exist, there cannot be any “reality”. Instead there is simply the Propaganda Matrix (Republican version, and Democrat version); into which these Binary Drones willingly “plug” their own minds.

A legitimate news media is comprised of roughly 80%  reporting of facts/information, and 20% opinion/analysis. The Propaganda Matrix is the precise, perverse opposite of this. Small amounts of heavily-filtered, fictionalized “news” are accompanied with endless, repetitive rants – as Republican propagandists and Democrat propagandists preach to their respective, Drone zealots.

The Drones are not simply told (again and again and again) how to interpret this “news”; they are told how to think. There is no longer any diversity of opinion. Rather, this Corporate Media preaches to the Drones as a single, monolithic herd – the classic trademark of any propaganda machine – except bifurcated into two parts, to create the illusion of “choice” (and illusion of democracy).

Proof of this two-party dictatorship comes simply from observation. While the two-halves of this dictatorship (neatly) alternate between titular control, the policies never change. The foreign policy remains identical. The monetary policy remains identical. The economic policy remains identical – subject to the fact that all these policies become steadily more extreme/radicalized.

While one could write chapters about the structure and evolution of this hate-filled society, this would fail to capture one of the most-important realities of this social, political, and military monstrosity. The Fourth Reich is, itself, a Puppet Regime.

 

Precious Metals Markets: Welcome to ‘The Matrix’

Gold Commentary

There will be few readers who are not at least partially familiar with the stylish, thought-provoking film classic, The Matrix. For those readers not among that group; The Matrix is a sci-fi drama which postulates a future where intelligent machines have seized control of the planet, and enslaved humanity – by hooking-up all of them to a gigantic virtual-reality machine.

These human Drones (the energy-supply for the Machines) are entirely oblivious of the fantasy-world in which they dwell (as slaves). They waste away their lives, content to be Drones in the Matrix. At this point, informed readers have already heard enough to know this comes very close to describing our own “reality.”

Clearly, there is one, crucial difference: we have no secret, gigantic virtual-reality machine – into which all of the minds of humanity are plugged. No, our Matrix has been a creation of our own minds, fueled by year after year after year of saturation propaganda. Many readers will see such an allegory as hyperbolic. Not for long.

In general terms; how would we describe any fantasy-world/Matrix? While the English language is rich in adjectives, I would suggest that the following trio encapsulates the concept here completely and precisely: perverse, absurd, and unreal. Indeed, simply use those three adjectives together, and readers will deduce from the context alone that one is referring to some sort of Matrix/fantasy-world – without even the need to explicitly include any noun.

Now let’s look at the Precious Metals Matrix. The usual starting-point in this trip “through the Looking Glass” is with a  visit to the entity which claims to represent the global gold industry: the World ‘Gold’ Council. Recently, the WGC issued its own proclamations on third-quarter global gold demand:

Global gold demand fell by 21% year-on-year in the third quarter to 868.5 metric tons, mainly due to a further exodus out of exchange-traded funds by investors in Western nations, the World Gold Council said Thursday. [emphasis mine]

It doesn’t get much clearer than that. According to the WGC, the gold market collapsed in Q3 because investors were selling a lot of “gold”.

What happens when you sell anything into a market? Inventories go up. What happens when you sell a lot of something (i.e. an “exodus”)? Inventories go straight up.

What happened in the gold market during the third quarter, in the real world? Inventories went straight down. Indeed, during this entire, supposed “exodus” out of the gold market, faithfully reported by the WGC; Comex gold inventories have plummeted now by 80%, in aggregate.

This is the Real World. A sustained collapse in gold inventories, at a rate unprecedented in the modern history of markets. There is no more single piece of conclusive evidence on the status of any market than inventories. The report by the WGC is perverse, absurd, and unreal.

There are only two possibilities in this Precious Metals Matrix of the WGC. Either everything reported by the WGC about the gold market is simply complete fabrication; or investors were selling something in Q3 (and Q2), but they weren’t selling gold. In other words, some/most (all?) of these paper-gold “funds” are nothing but paper, paper-called-gold.

Can we be more certain about our conclusion here? How about a confession directly from the Bankers who flog this paper-called-gold that they are knowingly (i.e. fraudulently) selling paper, but calling it “gold”?

 

GATA Now Funded With Rothschilds’ Dirty Money

Gold Commentary

It’s with a heavy heart that I write this commentary: the corruption of what was formerly an entity of information and truth. My own discovery of this dirty-little-secret came personally.

For approximately four years GATA (the “Gold Anti-Trust Action Committee”) had been publishing my commentaries, and with increasing frequency over the past year, in particular. Then, abruptly, all such publishing instantly and permanently halted.

The basis for this sudden (and total) censorship of my commentaries? I was told that “one of GATA’s most significant individual supporters” had claimed that there were “anti-Semitic” undertones in one of my (more than 1,000) commentaries: “The One Bank”.

There are numerous problems with this false-accusation, beginning with the fact that none of my commentaries (including the one in question) ever mention the ethnicity of any individuals discussed, for the simple reason that this is “analysis” – and only relevant data is included in such analysis.

What, then, was the basis for this false-accusation? I simply used the name of a Jewish family – Rothschild – in one commentary. There was not a single reference to their ethnicity in the entire commentary. There was not a single reference to their ethnicity in any of the research material cited in that commentary. It’s like being accused of “homophobia” for simply mentioning the name of a gay individual, even though never revealing or alluding to their sexual orientation.

Further proof comes in the fact that it took this mysterious, financial “supporter” of GATA an entire month to come forward with this accusation. Indeed, the accusation came immediately after a massive, sustained “cyber-attack” directed against our website had failed to destroy it.

Additional proof comes in the fact that all my work is now censored at this now-corrupt entity, including any/all commentaries which contain no references of any kind even to the original commentary. GATA is not censoring “anti-Semitism”; GATA is censoring “Jeff Nielson”.

More particularly; GATA is censoring the name “Rothschild”, a family so wealthy (and powerful) that they deem it an unpardonable sin for anyone to even mention their name publicly. This naturally begs the question: what do they have to hide?

The answer to that question comes inside the very commentary which was/is the basis for my censorship: their “One Bank.”

The very existence of the Rothschilds’, gigantic financial monopoly – which by itself “controls 40%” of the global economy – is illegal. It is a violation of our “anti-trust laws” (ironically the very laws which GATA seeks to have enforced), which are the principle foundation of our entire, capitalist economic system. Not surprisingly; the operators of this Crime Syndicate don’t want to see their illegal entity ever mentioned by any media source.

Regular readers are very familiar with the crimes of this financial cabal. (Criminal) manipulation of the $500+ trillion “LIBOR” debt market. (Criminal) manipulation of global currency markets. Serial “laundering” of the money of known drug cartels, and “terrorist” organizations. (Criminal) rigging of all markets, most particularly global commodity markets.

A much more-detailed chronology of the more-than-one-hundred-year history of this ruthless Crime Syndicate can be found in the superb documentary “The Money Masters.” The only thing “new” about the Rothschilds’ 21st century crimes is their sheer magnitude.

   

Gold Standard: the Perfect Prescription

Gold Commentary

Boiled down to the simplest terms; all economies must choose one of two “systems” in which to operate. They can choose a credit-based (i.e. debt-based) economy, or they can choose a “cash” (i.e. pay-as-you-go) economy. This is a simple tautology, and so beyond debate.

This brings us to simple arithmetic. For any society which chooses the credit-based system; this necessarily implies the steady/relentless accumulation of debt. Any (so-called) “credit-based system” where there is no accumulation of debt is, in fact, just a cash-based system.

In turn, the relentless accumulation of debt necessarily implies ever-increasing interest payments, to service all that debt. This brings us to the proposition of simple arithmetic: to make ever larger interest payments and maintain a constant rate of growth is only mathematically possible in an exponential-growth model.

This is where simple arithmetic gives way to insanity. Again as a tautology; an exponential-growth economy is only possible in an infinite system. But we residents of the Planet Earth occupy a finite system – a very finite system.

As we simultaneously confront shortages of oil, drinking water, arable land, and a host of other vital resources; the delusion that our (finite) planet is an infinite system goes from being irrational to insane.

Put another way, pushing the accelerator pedal of an automobile to the floor when there is a brick wall directly ahead is merely “irrational” when that brick wall is 1,000 meters away. But it becomes insane to continue doing so when the brick wall is only 10 meters away. This describes Western economies of today perfectly: pedal-to-the-metal, with a brick wall 10 meters ahead.

Western insolvency has become farcical. Many (most?) Western governments are already at the point where they can only avoid immediate debt-default (i.e. bankruptcy) by fraudulently maintaining interest rates near-zero: assigning near-zero “risk” to the debts of hopelessly insolvent debtors, even after one of those debtors (Greece) has already defaulted. Even that isn’t enough for the U.S. and Europe’s Deadbeat Debtors.

They must also (pretend to) “buy” virtually all of their own debt, with newly-printed paper, conjured out of thin air; backed by nothing – worth nothing – because there are no longer any legitimate buyers for all this bad debt. These economies are now open Ponzi-schemes, and as with all Ponzi-schemes they will soon implode.

The time to discuss what sort of economies we should/must have after Debt Jubilee resets the economies of debt-bloated Western regimes is today. Even after these astronomical bond-debts are erased so that our economies once again become solvent (i.e. sane); we still face the choice of a debt-based or cash-based system.

However, as previously illustrated; this decision amounts to a choice between a rational system (finite growth in a finite system) or an irrational system (attempting infinite growth in a finite system). If we once again choose an irrational system; we already know there is a brick wall looming ahead of us.

But because we are already facing myriad “resource crises” today, we will arrive at that brick wall in much less time than was required in our last lemming-charge. Thus choosing to continue to attempt infinite growth in a finite system is no longer merely irrational, it is simply insane.

 

The Truth About Western (Un)Employment

International Commentary

Structural unemployment” (i.e. permanent unemployment) is nothing new in Western societies. Indeed, it has been a constant fact-of-life in our economies ever since the Industrial Revolution. What is new is the choice by Western governments to ignore this problem – which is now a gigantic crisis.

The dynamics here are as simple as they are unequivocal. At the dawn of the Industrial Revolution; the normal “work week” was approximately 7 days a week, 12 hours a day, more than double the current work week.

What happened? Have Western workers simply gotten “lazier” and “lazier”? Hardly. Rather, they were the recipients of – and now victims of – the Dynamic of Technology. The principal is simple: technology always eliminates the need for labour faster than it creates new employment opportunities.

This has been a constant and unequivocal parameter of Western economies for more than two centuries. With less and less work available every year; the length of the work week must be steadily reduced – as the only possible means of maintaining full employment. Yet in the Age of Computerization (the most-rapid elimination of labour in history), our corrupt/sadistic government have chosen to ignore this dynamic, needlessly causing enormous structural/permanent unemployment in our societies.

Western structural unemployment has been allowed to grow to such an obscene size that it now ranks as the greatest economic plague in our modern history (i.e. since the Industrial Revolution). U.S. data will be used to illustrate the magnitude of this plague simply because it is most easily available; but the plague applies (more or less) equally to all Western economies.

Total employment” in the U.S. is just over 144 million people, in a population of 317 million. This translates into 46% of the population of having jobs, and 54% not working. Yet we have the U.S. government claiming an “unemployment rate” of just over 7%. Obviously the government lies.

The familiar chart below shows how the U.S. economy has been losing jobs throughout this supposed Recovery; while fraudulent employment reports claim “new jobs created” every month.

As illustrated in my most-recent commentary; during this current Greater Depression, U.S. wages have fallen all the way back (in “real dollars”) to “Great Depression” levels. For the Working Poor; this means that two-wage earners are now required in most households just to stay above the Poverty Line.

In overall numbers; this translates into over 50 million unemployed Americans who want/need jobs today – if they were allowed to work. If we add those 50+ million unemployed Americans to the 144 million who have jobs; we get a “total workforce” which (for the sake of convenience) we will round-off to 200 million. With 56 million unemployed out of a total workforce of 200 million; this translates into an unemployment rate of 28% -- four times the fictional, “official” rate.

   

The Great Inflation Lie

US Commentary

Low inflation is not good for the economy because very low inflation increases the risks of deflation, which can cause an economy to stagnate. The evidence is that falling and low inflation can be very bad for an economy.

- B.S. Bernanke, Chairman of the Federal Reserve, October 2013

The economic Revisionism above is arguably the most-evil lie being propagated in the world today. While there are numerous ways to demonstrate the economic perversions implicit in this falsehood, let’s start with one point. The Bankers who continually tell us how “good” inflation is for us never define what they mean by “inflation”.

As regular readers know; definition of terms is the starting point of all legitimate analysis. If you want your audience to understand your argument; first (obviously) you have to ensure that the audience actually comprehends the terminology which you are using.

Conversely, Con-Men have a precisely opposite modus operandi. They deliberately use terms which are poorly-defined/poorly-understood, because when doing so it’s much easier to trick and scam people. In merely explicitly defining inflation; we can reveal these banker Con-Men as the malevolent thieves which some know them to be.

Inflation (in the simplest terms) is the speed at which our money loses its value. This definition is easily proven with empirical evidence. When you go to the supermarket to buy a dozen eggs, and those eggs cost 10% (or 20%) more than they did six months ago, the eggs haven’t changed – in either quantity or quality. It is your money which has lost 10% of its value over that six-month period.

Obviously anyone with a functional mind knows that it is not “good” for our money to relentlessly lose its value; every minute of every day, every day of every month, every month of every year. Who wants the paycheque which they work so hard to earn to shrink (in actual purchasing-power) every time their receive a new one?

Our governments understand this. This is why they not only conceal the nature of inflation, they also lie about its magnitude. A particularly flagrant example of this constant lying occurred in July of last year, and has been cited in many previous commentaries.

In the same month that the World Bank was warning that global food-inflation was increasing at an annualized rate of over 100%, and governments in Asia were having an emergency-summit about this global “food-price shock”; the U.S. government was reporting (as its “broadest measurement” of inflation) a rate of literally 0%.

Assuming that the entire (gluttonous) U.S. population didn’t all stop eating for that entire month; the inflation number reported by the U.S. government that month (in this era of “globalization”) wasn’t simply a lie, it was an enormous lie. But as has been explained to readers previously; the Inflation Lie is a multi-purpose lie.

One of its primary purposes can be seen below: deceiving the Little People (the bottom-80% of the population) so that they don’t realize the speed/extent at which their paycheques have been destroyed.

 

U.S. Hyperinflation and Cultural Insanity

Gold Commentary

Hyperinflation is an insidious, economic killer. It inevitably (but insanely) creeps up on its Victims in plain sight, before decimating them with an always unexpected ambush. How can one of the most-obvious of all economic phenomena always end up as a “surprise”?

Because none of the Victims ever believe that hyperinflation is possible. Point out that the U.S. dollar has lost 98% of its value in the 100 years that the Federal Reserve has been responsible for preserving its value, and people will yawn – it’s old news. But then assert that it is about to lose the last 2% of that value, and (amazingly) the response will be laughter and/or derision.

Look at a chart showing a 98% decline in anything, and the expectation will be that the last 2% is also about to be lost. Or, in market vernacular; “the Trend is your friend.” It is irrational, bordering on insane to expect such a chart to reverse itself, or even stabilize. Indeed, it is charts of this nature which spawned the expression “past the point of no return.”

Yet when people look at charts of currencies, in this case worthless paper currencies; the mere suggestion that a currency could go to zero is a concept literally beyond the comprehension of nearly all of our populations. If a person finds it impossible to conceptually conceive of lions, then a lion could simply walk up and eat that person.

We will not/cannot protect ourselves from a “risk” which we do not believe to be within the realm of possibility. One does not take precautions to protect themselves from the “risk” of man-eating butterflies, or killer-bunnies. Thus is hyperinflation perceived by the masses: the Threat of the Killer-Bunnie.

In less-extreme forms; the inability to acknowledge/accept (obvious) reality could be described as “normalcy bias”. Because almost all Change (even large changes) is impossible to perceive in real-time; it is a common human intellectual flaw to expect tomorrow to be like today (or yesterday). A tomorrow which is not like either today or yesterday is not perceived to be within the realm of possibility.

However, with respect to hyperinflation we are not dealing with mere Normalcy Bias, but rather its substantially more-extreme cousin: Cultural Insanity. There are several empirical reasons for reaching this more dramatic diagnosis.

Obviously hyperinflation is not a Killer-Bunnie. There are numerous, documented historical examples of this economic killer. There is a very recent historical example (the Zimbabwe dollar), and there are several extremely obvious examples of hyperinflation currently in progress (Western, paper currencies).

It is normal/sane not to believe in the existence of Killer-Bunnies, unless one has read about people being devoured by Killer-Bunnies, has watched Killer-Bunnies devouring people, and is watching Killer-Bunnies devouring people. In such a reality; it would be insane not to believe in something which can (easily) be empirically perceived.

Regular readers have seen the chart below on the U.S. dollar on numerous occasions. It clearly and unequivocally depicts a hyperinflation-in-progress: a vertical line as supply (of U.S. dollars) goes to infinity. It is a fact of mathematics/economics that as the supply of anything goes to infinity its price must go to zero.

But readers will no longer see this chart in the future (unless one chooses to use an older version), because it no longer exists. Meet the new-and-improved version of this chart of the U.S. monetary base from the Federal Reserve.

   

China Moves Closer To Ending Dollar Hegemony

International Commentary

The prequel to this commentary summarized the anti-climactic ending of the U.S. Debt-Ceiling Farce, and the fraudulent non-reaction to this circus by the Western financial system in general, and Western credit-rating agencies in particular.

By its own admission; the world’s largest economy, with the world’s largest debts and largest deficits came within hours of defaulting on payments to its creditors (otherwise known as bankruptcy), and there was essentially no reaction at all from Western credit-rating agencies to this latest exercise in brinksmanship – other than mild applause.

This comes despite the fact that absolutely nothing was resolved in this episode of The Farce, and the exact same parameters have been set up by the Puppets in Washington for an exact repeat of the latest episode, in only three months time. No reaction, that is, in the West.

There was, however, reaction elsewhere in the international financial community. One (as yet) quiet Voice raised a note of discord, in contrast to the usual, expected chorus of “Don’t Worry, Be Happy” coming from the Western credit-rating agencies. A Chinese credit-rating agency, Dajong Global Credit Rating immediately cut the U.S.’s credit rating by one notch.

Naturally the (Western) Corporate Media paid minimal attention to this ratings cut, being too busy hyping the fraudulent non-reaction of Western agencies. However, this news out of China is highly significant in two respects.

First of all; the rating cut by Dajong Global did not take the U.S.’s credit rating one notch below the entirely absurd “AAA” rating bestowed upon it by the West’s charlatan-agencies. It was a reduction from “A” to “A-”, about a half-dozen notches below its lofty perch in the West. Indeed, by the time the Washington Puppets finish staging their repeat of this Farce in January/February; U.S. sovereign debt could have an international credit rating near (or at) “junk” – even if there is no default next time the Puppets play their Russian Roulette.

So first of all we see reality reflected in the credit rating of Dajong Global, and with China’s openly/official “centralized economy”; it’s widely understood that Dajong Global is speaking with the voice of China’s government.

The world’s largest debtor, with the world’s largest debts shows not the slightest inclination to even reduce its deficits (let alone reduce debt), and now it is displaying increasing and (highly-public) reticence to simply continue making payments on all that debt. Obviously a near-junk rating is the only rational rating for such a debtor.

But there is also a second, even more important facet to this melodrama which correlates to the reality/honesty reflected in the U.S. sovereign credit rating from Dajong Global (and China): increased international legitimacy (and prestige). There is an obvious agenda as Beijing slowly-but-steadily ratchets up the volume of its own international credit ratings (system) – its quest to relace the dollar as global reserve currency with the yuan.

There are three, obvious prerequisites in attempting to execute such a transition:

1) Sufficient economic mass to be able to practically supply/support a monetary base large enough to encompass most international global commerce.

2) Sufficient international financial infrastructure to regulate the flow of this currency into (and around) the global economy in a sound and orderly manner.

3) Perceived legitimacy.

 

Western Credit-Rating Fraud Exposed -- Again

US Commentary

The “good news” is that the latest Act of “The U.S. Debt-Ceiling Farce” has mercifully ended, and the curtain has come down on this puppet-theater. The bad news is that it ended (absurdly) with a mere three-month reprieve – before we get literally an instant replay of this contrived posturing and puffery.

Apart from the outrageous irresponsibility of the U.S.’s elected representatives staging these contrived “crises” (instead of doing their jobs); these quasi “shutdowns” of the U.S. government do serious short-term harm to the already-crippled U.S. economy – meaning medium- and long-term economic consequences from this staged theater. Yet as the dust settles from the latest Act; we see essentially zero reaction in the international financial community (with one, small exception).

The world’s largest economy, sitting with the largest debts and largest deficits in the History of the World openly “debates” whether or not to continue paying its bills, it ends up (supposedly) only hours away from official debt-default, and there is no reaction? Having regularly used words such as “drones” and “parrots” to characterize the ever-vigilant minions of the Western, Corporate Media; this one event alone provides absolute vindication.

During the worst days of the “Euro Debt-Crisis” (so far); European governments received regular downgrades to their sovereign debt on only the flimsiest of pretexts, sometimes due to nothing more than the (fraudulent) manipulation of credit-default swap rates on that debt (i.e. the multi-trillion dollar bets made that these governments will default on that debt).

The “insurance market” (credit default swaps) for the debt of many European debtors is greater than the actual debts themselves. The Tail does “wag the Dog” in our crime-ridden financial markets. And by fraudulently manipulating credit-default swap rates; Western banksters can (and do) manufacture downgrades on Euro economies (or vice versa) – and by doing so, they can drive interest rates to literally any number they desire…but they don’t do this in the USA.

With the U.S. government a mere hours away from debt-default, and sitting with (in actual fact) more than $200 trillion in debts/obligations; the U.S.’s Teflon, “AAA” credit rating remains intact. An economy which the Chairman of the Federal Reserve has now acknowledged is a Ponzi-scheme, retains a carved-in-stone “AAA” credit rating.

The obvious question is: would/will the U.S. economy be “downgraded” at all after it defaults on its astronomical debts and liabilities?

For those comatose members of the general public who still snicker whenever they see/hear the word “conspiracy”; spend just two minutes observing the Ultimate Accomplices of financial crime: the Western credit-rating agencies. Right up until (literally) the day after the made-in-Wall-Street U.S. housing bubble imploded; these credit rating Accomplices were rubber-stamping virtually all of the Bankster’s “securitized” mortgage-fraud products “AAA”.

This was ratings fraud: ratings agencies selling these (bogus) “AAA” ratings to Wall Street – which those Banksters then used to lure-in chumps for $trillions in securities fraud. And there wasn’t even any attempt made to hide the fraud. The ratings agencies openly acknowledged that they allowed their “clients” (the Wall Street Banksters) to tell them how to rate their fraud-products.

Not only did these (so-called) “credit rating” agencies not even employ enough staff to thoroughly/properly examine all the “products” on which they issued ratings; they openly acknowledged that they didn’t even understand some of the more convoluted Wall Street scams – and so they simply accepted the Bankster’s own explanations, essentially allowing them to “rate” their own fraud-products.

   

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