Worse than Madoff …



Madoff will go down in history as a “legendary” crook. Yet it does not come close to some others, who go unpunished, them Bernie Madoff was not a saint, as we saw yesterday. But he never forced anyone to give him money, never embarked on counterfeiting to pay off his creditors, didn’t try to devalue his clients’ money, and never falsified the financial world whole to ensure that his scam can continue. He never caused inflation that will haunt entire countries, including innocent passers-by who had never heard of him. The team led by US Treasury Secretary Janet Yellen drew up a few “models” and came to the conclusion that more money printing would not be a problem. They could add $ 1.9 trillion in new spending to combat the Covid-19 malaise, and an additional $ 2.3 trillion in infrastructure spending to vaccinate the patient – and they would still have “manageable” inflation levels. If this debauchery of infrastructure is approved, it will bring the total stimulus spending – 2020 + 2021 – to more than $ 7,000 billion, almost twice the total spending of the federal government in 2016. These figures would worry any sane person. ‘mind. An honest man would be horrified. But imagine envy and admiration invading the heart of a crook! The authorities force their victims to pass them as much money as they think they can get them to accept, after which they print more money – as much as they want – and distribute it everywhere. The press sings their praises. And their “models” show them that they can go on almost indefinitely. Regrets At least Madoff had regrets: “I left shame as a legacy, as some of my victims say, to my family and my grandchildren. It is something I will live with for. the rest of my life. I’m sorry. “Yes, dear reader, there are things that are hard to distance yourself from – shame, for example. Or inflation, whatever “the models” say. You can realize, once you’ve caught 80, that you should have married this little redhead from the neighboring village 50 years ago. But it’s too late. We cannot go back. When you make cement, you put the sand and cement in the wheelbarrow. Then when the water is added the chemical process begins whether we like it or not. No need to ask questions. Likewise, when you unpin a grenade: you cannot change your mind. Better to throw the object, otherwise you will stupidly blow your head. With the scam going on, it was almost impossible for Madoff to stop it – even if he wanted to. He had to collect new money to keep paying the old money. He also needed it to finance the lifestyle his family had grown accustomed to. Likewise, as authorities fuel the system with newly printed counterfeit money, an increasing part of the economy depends on it. More and more people want it. Politicians who oppose money printing and stimulus checks are quickly escorted out of the building. Those who stay cannot cut spending. They can’t stop printing. They can’t put the pin back in the grenade. They can’t stop the bomb from exploding. But the blast won’t happen for months or maybe years. At that moment, the noise and the whirlwind of debris will veil almost everyone in a cloud of oblivion. The charges will fly in all directions – the rich the Republicans the Democrats and the real culprits will likely get away with it unscathed. In this sense, too, Bernie should be seen as a role model. He committed a crime, he served time in prison. Bernie, we didn’t know you. But you’ve set up a healthy old-fashioned scam. RIP. For more information and advice like this, it’s here and it’s free