Sunday, July 30, 2017 by Martin Mavis
Because the corrupt government keeps bailing out toxic banks and investment funds, the “cleansing” of the financial system through bankruptcy and failure has now been allowed to take place. The result is a much LARGER and more devastating collapse that’s coming.
Podcast Transcript: “Don’t you find it interesting that nobody went to jail after the 2008 housing bubble implosion, where there was so much financial fraud, so much deception … The ratings agencies were deceiving people, the banks were committing massive financial fraud and defrauding investors at every level. Ultimately of course, the federal government had to them all out using essentially long-term taxpayer money and nobody went to jail. Isn’t that interesting. It also shows you that there’s a shocking unwillingness in the corrupt political banking system today, an unwillingness to allow bad banking practices to take their punishment, take their loses and unravel – and sort of cleanse the system. You know how a body can get toxic from eating to much junk food and engaging in what we might call bad food allocation decisions. Well, the banking system can also become toxic with bad financial allocation decisions. Every once in awhile you need a detox. You need a banking detox. That’s called a crash, implosion or a series of bankruptcies. Bankruptcies are a good thing for the long-term health of the financial system, because it allows the misallocation of resources to be cleansed out of the system…” Listen to the full podcast below: