Sadly most of the public was buying that “hook, line, and sinker”!
The public swallowed the official excuse hook, line, and sinker.
In March of 2015, two Supreme Court Justices Kennedy and Breyer testified before Congress stating bluntly that the US criminal justice system does not work
Max continues his interview with Chris Powell of GATA about negative GOFO rates in the gold market.
What will the economy look like to the man on the street when the economy finally takes a fall? Celente predicts, “It’s going to be inflation, but it’s going to be currency devaluation rather than commodity inflation, for example: oil. We see oil prices coming down. As the currency becomes devalued, it will cost you more to buy that commodity because they just continue to print more money and put it into the global system. It’s not only the United States, look what’s going on in China. There are estimates that there are 70 million luxury apartments they can’t sell in China. You read the data, and you see the government is boosting the economy.”
Well, one issue I had is that although I warned not to securitize the loans, there was no way—I was blocked off, especially after I had raised complaints, from being able to see any of the data or the diligence process, which right there shows that something was wrong. So, after I left JPMorgan, I actually had no idea, for a full four years, that the loans had been securitized.