Spare Me The Outrage....
The Market Ticker - Commentary on The Capital Markets
2017-10-11 10:34 by Karl Denninger
in Editorial , 639 references Ignore this thread
Spare Me The Outrage....
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.... about some women -- and probably even kids -- being harassed and, maybe, even raped by Weinstein.

Yes, it's outrageous that there is evidence that a news story in 2004 was spiked to "protect" him.  Yes, it's outrageous (to the point of my refusal to believe it) that his wife didn't know anything about any of it.  Yes, it's outrageous that dozens of actors who had to know, at least at a level of rumor, did exactly nothing because they loved the career boost that he "gave" them.

Of course the biggest outrage of all is that he didn't "give" anyone anything. He bought it, including from both Hillary Clinton and Barack Obama!

But spare me the outrage because I'm not outraged any more.  I merely look at articles like this:

While we can understand policymakers’ concerns, we at PIMCO – currently one of the largest non-government investors in GSE-issued mortgage-backed securities (MBS) – believe a draw on the Treasury by Fannie or Freddie would not be a market event, nor would it reduce our demand for these securities. Instead, we believe the policy focus should be on what agency MBS investors really care about: making the government guarantee explicit.

Let me remind you that The Federal Reserve is prohibited by law from buying or holding any debt that does not have the "full faith and credit" of the United States government behind it, with one small exception for "Revenue Anticipation Notes" issued by the States.  That law dates to 1913.

Let me further remind you that back when the financial crisis was just starting and The Fed announced it was going to buy Fannie and Freddie paper I posted a front page of their debt offering prospectus on which was emblazoned the fact that there was no such guarantee.

That made the entirety of the Fed's actions it that regard, which have continued daily since that time and in fact continue today, an illegal act.  Yet not one Fed governor has been referred for prosecution, not one such transaction has been ruled void as an illegal act, not one person has raised the fact that financial offenses which involve banks and a pattern of conduct are deemed Racketeering and in fact not one question has been asked and followed up as to exactly where the Fed acquired the ability to arrogate to itself the power to rewrite law to suit is own decisions.

Let me further remind you that in every single year since that time the Federal Government and Federal Reserve have in fact conspired to emit into the market enough credit via Treasury as a percentage of GDP to exceed the amount of growth in the economy.  In other words there has been no actual growth since that time, every economic statistic saying otherwise has been an intentional fraud and the entire group of same has been emitted by the press and the government for the explicit purpose of screwing you, the common person, with the sum total of same now amounting to more than $10 trillion dollars.

It would be nice if it ended there but it doesn't.  The scam in health care has resulted in, at this point, every single American family being scammed out of the mortgage payment on a middle-class house each and every month!  That's right -- every single American family is literally having a house stolen from them daily, monthly, annually and continually.

Then of course we have, as I've written on, Las Vegas where the LVMPD and CCSO take acclaim as "heroes" when in fact they deserted from their jobs and in doing so allowed hundreds of rounds to be put into innocent people, killing nearly 60 and injuring more than 500, when they could have stormed the hallway.  They might not have stopped him from shooting but they would have drawn his fire and thus would have certainly stopped him from shooting at innocent, unarmed people.  In addition they would have forced him to fire "blind" and we already know the results of that; he emptied 200 rds into the hallway and got one non-fatal injury out of it to the security guard.  So instead of taking a few rounds to themselves the cops allowed that jackass to rain close to 1,000 rounds down on innocent people where more than half of them were "hits" in order to avoid taking 1 in 200 rounds to one of their own.

Utterly none of these events, or the dozens of other outrageous events similar to it that either bankrupt or even kill people by the score register enough outrage for the American Public to rise, demand that it stop and that everyone involved go to prison right damn now.

So spare me the outrage over Weinstein.

His ability to get away with it for as long as he did -- and profit from it -- is a direct result of your refusal to get off your ass collectively and put a stop to the blatant and outrageous criminality throughout our political, financial and judicial system for the last several decades.

Oh, that includes most-especially all the women who went along with sucking-and-****ing Weinstein, encouraged his actions or enabled him for their own personal profit.

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