…people’s careful savings of a lifetime could be wiped out in the blink of an eye if we go into another 2008-style meltdown and the Fed once again stands ready to “create money without limit.”
Eric King: “What are the chances that we go back into some type of 2008 – 2009 style collapse? Because you are basically saying that the bank regulators can’t go in and do their jobs. That’s what this woman was trying to say who revealed these (Goldman Sachs) tapes. Everybody is in on it. Wall Street is running everything. The leverage is through the roof. There is no way to stop this monster. And going back to Greenspan’s speech were he said (five times), ‘We stand ready to create money without limit,’ if we do fall into another 2008-style derivatives collapse, do ‘we stand ready to create money without limit?’ Could this whole fiat system just blow up?”
Huszar: “We have an issue of an overly-financialized U.S. economy, where the U.S. banking sector, on a relative basis, is literally twice as big today as it was 30 years ago. And so Wall Street is now the largest corporate sector in America. Over 30 percent of U.S. corporate profits are bank profits. And so there is a real question as to where we go from here?….
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