JOE 6 PACK LEARNS FROM BERNANKE AND GOES TO THE POKEY

JUST DOING WHAT OUR LEADERS DO -
While scanning the news I was struck by the irony of this story from the San Francisco CBS affiliate.
Samuel Kioski was arrested recently for an inventive application of Ben Bernanke's magical printing tricks.

http://sanfrancisco.cbslocal.com/2011/05/26/technician-faces-charges-of-cleaning-out-bay-area-atms/

REPLACING WORTHLESS DOLLARS WITH WORTHLESS PAPER
Allegedly, Mr. Kioski was an ATM technician who replaced almost $200,000 of real money for fake copies of dollar bills.  In his "rampage" Samuel opened up a total of 7 machines, grabbed the real cash, and dropped in bad forgeries into the cash dispensers.  The police stated that the fake money was not even a good attempt as he simply made the bills on a copy machine. 

The repairman was able to sneak away since last July with his haul, but was found two weeks ago in Arizona. 

YOU NEED TO BE A BANKER TO GET AWAY WITH THIS
See, Mr. Kioski didn't quite understand that you must have a PHD from Yale or Harvard and also deal in billions rather than hundreds of thousands to get away with this sort of trick.  Our central bankers have pulled off the exact same scheme, but instead of going to jail, they are lauded as heros.  Think back to the scary days of the economic collapse.  When the full impact of the Lehman implosion was being felt, we watched as Goldman Sachs, Bank of America, JP Morgan, and others swapped their toxic assets with us for clean, crisp, and freshly printed digital dollars.  We taxpayers (our leadership and the Fed) were more than happy to trade worthless paper (MBS) for our currency in the name of avoiding disaster. 

Compare the TARP swap with the trade Mr. Kioski made and you'll find little difference between his moves and those of the Fed, Treasury, and the bankers; little difference besides that it was a small amount and not sanctioned by the thieves at the NY Fed. 

WHO IS THE BIGGER CRIMINAL?

RULES TO STEAL BY -

So the takeaway from this story is that if you are going to pull a fast one and take money from folks, you must follow these rules to get away with your booty.

1)    Take money from taxpayers, not banks

2)    Rip folks off for billions or trillions, not thousands

3)    Wear suits and talk about the end of the financial system, everyone will hand over the money immediately

4)    Go to Davos, not somewhere like Arizona

5)    Take your wife with you, then she won't file a missing persons report

GOATMUG



INSIDE JOB - WATCH A REAL LIFE HORROR MOVIE - FREE

INSIDE JOB - HOW WALL STREET GOT YOUR MONEY
Are you still wondering about the 2007 and 2008 Financial Crisis and what exactly happened?  This acclaimed documentary has a great view of the causes of the collapse that threatened to shatter the ponzi scheme that governments and the financial industry have been running for years.  While I'll be the first to admit that not all of what they show is spot on (everyone has an angle and prejudice), I'll say that they nail a heck of a lot of it. 

I suggest that you hit full screen to get the most enjoyment of your viewing.

(I took down the embedded video because the source video was nailed by Sony for copyright infringement.) Here is another link to a blog I found that had the video still in tact. http://www.distressedvolatility.com/2011/04/watch-inside-job-full-video.html  )


It's odd to think that this is all past, that with the simple creation of the TARP fund, QE I, and QEII we are suddenly all fixed and ready to get back to life as usual.  Where are the losses?  Where are the handcuffs?  Nothing has changed, you just got scammed as a taxpayer.  "Each crisis has caused more damage while the industry has made more and more money".  I can't wait to see the next one, it should be on schedule in about 3 to 4 more years.
If you have about an hour and a half, you will agree that it is not a waste of time.  Be careful!

GOATMUG!