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August 9, 2018 | Do We Repay Scoundrels for Burying Us In Debt?

Rick Ackerman

Rick Ackerman is the editor of Rick’s Picks, an online service geared to traders of stocks, options, index futures and commodities. His detailed trading strategies have appeared since the early 1990s in Black Box Forecasts, a newsletter he founded that originally was geared to professional option traders. Barron’s once labeled him an “intrepid trader” in a headline that alluded to his key role in solving a notorious pill-tampering case. He received a $200,000 reward when a conviction resulted, and the story was retold on TV’s FBI: The Untold Story. His professional background includes 12 years as a market maker in the pits of the Pacific Coast Exchange, three as an investigator with renowned San Francisco private eye Hal Lipset, seven as a reporter and newspaper editor, three as a columnist for the Sunday San Francisco Examiner, and two decades as a contributor to publications ranging from Barron’s to The Antiquarian Bookman to Fleet Street Letter and Utne Reader.

I wrote here yesterday that Trump’s plan to pay off the national debt with tariff revenues would place a huge new tax on consumption, triggering a Second Great Depression. Here’s an interesting response from Rick’s Picks forum regular John Jay:

Actually, Trump and the NY Times are on the same page on this issue. They are both going along with the setup that all that debt, financed by the Fed out of thin air, MUST be repaid. Well, let’s think outside the box on this issue, shall we? What the Big Banks, through their proxy, the Fed, have been doing since Easy Al replaced Volcker, is create money out of thin air to monetize the debt. It is not some mysterious, special skill; anyone who can fire up a computer and hit the “0” key can manage it. They have just abused their power to enrich the handful of scoundrels at the top of the heap.

Anyone telling you all that debt needs to be repaid to those scoundrels is running the “Big Con,” and hoping there is no repeat of the Gaius Marius Proscription Lists to put “Paid” to this “Debt”. Which has happened time and again in history, from Gaius Marius to the Romanov Reset. Bernie Sanders and the dimwit chick Ocasio are straws in the wind for what can happen real quick if the scoundrels push their luck on getting repaid.

A Failed Revolution

Right now we are at the 1905 failed Russian Revolution level in this country. As the electorate gets dumber and then dumbest, the 1917 version is becoming ever more likely. What follows will be ten times worse that what we have now, but the mob will have its way, regardless of the consequences. Let’s face it: Have the “Scoundrels” from Nero, to the Bourbons, to the Romanovs, to Marcos ever restrained their greed and given back even 10% to placate the rabble? Or do they always go too far, and lose it all when the mob turns against them? Another terminal case of “A Bridge Too Far!”

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August 9th, 2018

Posted In: Rick's Picks

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