Rathbun: Too big to fail, too big to jail and too big to succeedWritten by Gary Rathbun | | GaryRathbun@PrivateWealthConsultants.com
Eric Holder had some very interesting things to say the other day in testifying before Congress when he said:
I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if you do prosecute, if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy. And I think that is a function of the fact that some of these institutions have become too large.
When an institution becomes to big to fail and now to big to jail we have created a real problem in the United States. There is nothing to stop these guys from doing whatever they want in the economy because the Federal Government, i.e. the American taxpayer will pay for it.
Couple this with the Federal Reserve printing money to the tune of 118,000,000.00 dollars every hour 24/7; we have a perfect recipe for economic disaster. Finally, add to this mix a Congress that has no interest in cutting spending and doesn’t care about the national debt being over 17 trillion dollars, what are we supposed to think on a daily basis.
Should we convert all of our wealth to gold and hide in our homes clutching our AR-15? I don’t think so. I have said for many years that there is nothing I can about the collective stupidity of government other than figure out a way to exploit it. And exploit it I will!
There is no question that gold is a part of the solution. Gold and silver are real money. The paper in your wallet (yes, I know it is really cloth) is merely a debt obligation. It says right on it that it is a “Federal Reserve Note.” We are able to exchange it for other stuff we want only because the person we exchange it with believes that he or she can further exchange it for something they want.
The bigger the institution the easier it is to see what they are actually doing, if you know where to look. Likewise with the Federal Reserve. The motivation of the people making the decisions betrays their stealth. I know that the people in Washington only care about one thing, power. They will do whatever it takes to get re-elected and continue living and getting rich off the blood of the people.
As Jack Sparrow said in the movie “Pirates of the Caribbean,” it is infinitely better to do business with a pirate since you know that pirates lie and cheat than to do business with someone else you don’t know. Politicians are the same. I know what they want, I know how they work and I can count on them to be consistent in their actions
When they don’t get their way they will do everything they can to punish the people into changing their minds and giving them what they want. Sequester come to mind. Funny how in just a couple of days cuts that haven’t happened yet and are only half of the amount they say, is causing all kinds of havoc at the airport and the borders. They will eventually get their way and make you think they are doing you a favor by destroying you and your future.
I will eventually get my way also by taking advantage of their self-righteousness and predictability. I will not be afraid of them and the individual in us will prevail and succeed.
Gary L. Rathbun is the president and CEO of Private Wealth Consultants, LTD. He can be heard every day on 1370 WSPD at 4:06 on After the Bell, everyday on the Afternoon Drive, and every Tuesday, Wednesday and Thursday evening at 6 p.m. throughout Northern Ohio on Eye on Your Money. He can be reached at (419) 842-0334 or email him at firstname.lastname@example.org.