The Plan?

[TheBreeze]

I think the government does have a plan to ‘resurrect’ the economy, but it does not involve reform, change, or anything that would disrupt the financial oligarchy’s stranglehold on money and power. Instead, I think the government’s plan is to gun the markets, distract the people with sideshows (firing of GM CEO), all the while offloading the tons of bad loans to taxpayers. I agree with Mish that this plan is doomed to fail.

The first part of the plan involved using AIG as a conduit of taxpayer dollars straight to the banks:

Guest Post: The Banks Were Profitable In January And February Thanks To… AIG

Here’s the really amazing/frightening/unbelievable part of the above article:

During Jan/Feb AIG would call up and just ask for complete unwind prices from the credit desk in the relevant jurisdiction. These were not single deal unwinds as are typically more price transparent – these were whole portfolio unwinds. The size of these unwinds were enormous, the quotes I have heard were “we have never done as big or as profitable trades – ever”.

So the government purposely directed AIG to massively overpay the banks on their CDS contracts in January and February. These huge payouts which came straight from taxpayers through AIG to the banks allowed the banks to say they were profitable:

http://optionarmageddon.ml-implode.com/2009/03/27/the-ultimate-bait-switch/

As the news of the banks ‘profits’ started to seep out, the market started going up. This was around early March.

At the end of March (March 29th), Zero Hedge posted the reason for the banks ‘profitability’ (i.e., the massive taxpayer payouts through AIG). The next day, March 30th, Obama asked the GM CEO Wagoner to step down:

http://www.politico.com/news/stories/0309/20625.html

Coincidence? I think not. This was to distract the bloggers from the massive taxpayer theft that occurred through AIG. It certainly seemed to work on this blog as so many were captivated by Obama’s actions.

Now we have the next part of the plan: obfuscation of the bank’s asset values through suspension of mark-to-market.

http://www.marketwatch.com/news/story/FASB-approves-more-mark-market/story.aspx?guid={33F70684-4207-4EDD-B7C3-1B82B7A7F6B6}

Along with this, you will see the pundits come out and recommend buying the banks. Cramer had an article out this morning saying that Citigroup has to be bought off this news.

By the way, Japan suspended mark-to-market in 1992 when the Nikkei was around 15K. It’s difficult to tell, but it looks like this may have sparked a rally to 20K:

http://en.wikipedia.org/wiki/File:Nikkei_225(1970-).svg

However, I think today the Nikkei is around 9K or so.

In any event, I believe the governmet does have a plan. The plan is to help the financial oligarchy maintain power at all costs:

http://www.theatlantic.com/doc/200905/imf-advice

To me, it looks like we are in for a extended decline down (with stock market bumps along the way caused by tricks like those above). The only way to stop it will be to unhinge the oligarchy’s death grip on money and power.

[Arraya]

[img_assist|nid=10730|title=G-20|desc=Quit complaining. They fixed everything at the G-20|link=node|align=left|width=665|height=600]

[Arraya]

[img_assist|nid=10730|title=G-20|desc=Quit complaining. They fixed everything at the G-20|link=node|align=left|width=665|height=600]

[Arraya]

[img_assist|nid=10730|title=G-20|desc=Quit complaining. They fixed everything at the G-20|link=node|align=left|width=665|height=600]

[Arraya]

[img_assist|nid=10730|title=G-20|desc=Quit complaining. They fixed everything at the G-20|link=node|align=left|width=665|height=600]

[Arraya]

[img_assist|nid=10730|title=G-20|desc=Quit complaining. They fixed everything at the G-20|link=node|align=left|width=665|height=600]

[Coronita]

[quote=arraya][img_assist|nid=10730|title=G-20|desc=Quit complaining. They fixed everything at the G-20|link=node|align=left|width=665|height=600][/quote]

Lol.

Hey, the markets are up 300+ pts. Please, Obama, don’t talk today in the U.S and give a speech.

Riddle me this…What do folks think about this statement:
“There is no mainstreet without wall street”.

[Coronita]

[quote=arraya][img_assist|nid=10730|title=G-20|desc=Quit complaining. They fixed everything at the G-20|link=node|align=left|width=665|height=600][/quote]

Lol.

Hey, the markets are up 300+ pts. Please, Obama, don’t talk today in the U.S and give a speech.

Riddle me this…What do folks think about this statement:
“There is no mainstreet without wall street”.

[Coronita]

[quote=arraya][img_assist|nid=10730|title=G-20|desc=Quit complaining. They fixed everything at the G-20|link=node|align=left|width=665|height=600][/quote]

Lol.

Hey, the markets are up 300+ pts. Please, Obama, don’t talk today in the U.S and give a speech.

Riddle me this…What do folks think about this statement:
“There is no mainstreet without wall street”.

[Coronita]

[quote=arraya][img_assist|nid=10730|title=G-20|desc=Quit complaining. They fixed everything at the G-20|link=node|align=left|width=665|height=600][/quote]

Lol.

Hey, the markets are up 300+ pts. Please, Obama, don’t talk today in the U.S and give a speech.

Riddle me this…What do folks think about this statement:
“There is no mainstreet without wall street”.

[Coronita]

[quote=arraya][img_assist|nid=10730|title=G-20|desc=Quit complaining. They fixed everything at the G-20|link=node|align=left|width=665|height=600][/quote]

Lol.

Hey, the markets are up 300+ pts. Please, Obama, don’t talk today in the U.S and give a speech.

Riddle me this…What do folks think about this statement:
“There is no mainstreet without wall street”.

[Enorah]

For those who are aware, awake, & conscious, I believe we are getting a bit of a respite now, so we can reevaluate what is important to us and then make it so.

Make it so

*heart*

[Enorah]

For those who are aware, awake, & conscious, I believe we are getting a bit of a respite now, so we can reevaluate what is important to us and then make it so.

Make it so

*heart*

[Enorah]

For those who are aware, awake, & conscious, I believe we are getting a bit of a respite now, so we can reevaluate what is important to us and then make it so.

Make it so

*heart*

[Enorah]

For those who are aware, awake, & conscious, I believe we are getting a bit of a respite now, so we can reevaluate what is important to us and then make it so.

Make it so

*heart*

[Author]

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