How fucking dumb do the Feds think we really are?

The last few days have been hilarious. First the FIFA arrests yesterday and now the indictment of former Speaker of the House Denny Hastert. (Wow...he avoided declaring a $952k cash withdrawal). He'll probably go to prison for the rest of his life.

Meanwhile the bankers steal trillions, manipulate and rig markets, commit wild, brazen, out of control fraud--ADMIT TO IT--then do it, over and over and over and nothing happens. Not a single bank executive is arrested or charged, never mind go to prison.

The Feds must think we are so fucking dumb. They arrest a bunch of two-bit soccer execs and now they take down a long-retired politician and that's supposed to make up for their total indifference when it comes to the massive crimes of finance? Nobody should give a fuck until lots and lots and lots of bankers go to jail.

Paying The Turkey, To Avoid Running Out Of Fiat :(

(Commentary posted by Roger Erickson)

Turkey ‘saved 442 billion lira’ with low rates

"The low interest rate environment of the past 11 years has saved Turkey from paying 442 billion Turkish Liras of additional cost ... "

[paid to itself?]

Maybe they need a Presidential pardon, so that they can go back to denominating ALL necessary transactions ... not just some of them? Let's just hope that they don't run out of public initiative before everything that needs to get done ... actually gets done. It'd be a shame for a whole nation to collapse, all for want of enough public fiat. (Ya just can't make this stuff up fast enough.)

'The low interest rate environment of the past 11 years has saved Turkey from paying 442 billion Turkish Liras of additional cost, Deputy Prime Minister Ali Babacan has said. 

 [Cost to whom, and paid to what recipient?]

“We [the ruling Justice and Development Party (AKP) government] have lowered interest rate spending and we provide services with the resources yielded from this,” Babacan said during a rally held for Rıza Gezer, AKP’s Etimesgut district candidate in Ankara on March 23. 

[BMHOTK! Parasitic fungi have nothing on bankers! In the hunt for more bizarre, opportunistic organism & cultural sub-types, it's surprising that ecologists don't study co-parasitism by bankers and de-co-regulators AND LOBBYISTS. :( ]

“We would have had to pay 442 quadrillion [billion in today’s currency] more, if the interest rate hadn’t declined over the past 11 years and the state would have continued to pay 66-percent interest rates,” he said. 

The AKP government has been vocally against high interest rates, which are blamed for hampering economic growth.

[It couldn't be their fiscal & tax policies, right?]

Prime Minister Recep Tayyip Erdoğan, who is also keen on maintaining economic growth ahead of an election cycle starting with the local elections on March 30, has been a vociferous opponent of higher borrowing costs, rallying against what he describes as an “interest rate lobby” of speculators seeking to stifle growth and undermine the economy.

The abundant liquidity environment that is supported by the United States Federal Reserve’s bond purchasing program and investors’ interest in emerging markets after the 2008 global crisis made the low interest rate policy sustainable. However, the analyst and the economy policy shapers of the government have been saying this era has come to an end with the Fed’s announcement of decision to cut its bond-buying that led to a huge emerging market sell-off. After resisting for months, the Central Bank of Turkey also hiked all of its key interest rates at the end of January." '

Emerging market sell-off? Who owns the assets of these countries, who's buying and who's selling  .... and WITH WHOSE PERMISSION?

Whatever. Just another day of breaking news from down the Rabbit Hole. Add Mad Turks to Mad Hatters. Or can someone just ask them to define "Economic Growth?" Or instead, just ban twitter. That'll fix it!

Jonathan Larson — The latest scummy bankster behavior

The World Economic Forum is being held right now in Davos Switzerland. This gathering of the über Predators is always good for a few "let them eat cake" quotes and this time is no exception. A guy named Ermotti thinks life is hard enough without folks picking on the moneychangers. Poor bastard doesn't quite understand why folks don't just LOVE the thieving classes.

Watching these scum start to squirm is satisfying only because we are deprived of seeing them marched off to prisons. Until we see the return to honest banking, all the other big problems—including climate change—cannot and will not be solved.

Real Economics
The latest scummy bankster behavior

Jonathan Larson

Bugger The Bankers, Official Video

commentary by Roger Erickson

By the Austerity Allstars

Orthodox economy endorses the enthusiasm, perverts it to a toast: "We'll shrink to that!"