Hedge Funds v. Obama's 'Rich' folks making $200,000 a year

[WhiskeyGirl]

Why hasn't Washington regulated or investigated Hedge Funds during the past 30 years?

How much have Hedge Funds contributed to the dollar's decline?  The collapse of 'our' financial system in 2008?

It only seems to be America's financial system when it collapses.  Where was Jesse Jackson?

Why isn't he demanding transparency with regard to hedge funds?  Asking them to pay their fair share?

Why hasn't Congress investigated the end recipients of the AIG pass through money to foreign banks?  Don't the little people deserve to know who got all our money?  How much they made while Americans on Main Street get stuck with TRILLIONS in debt?

While small savings on Main Street are devalued by the actions of the Federal Reserve, a private bank?

If the Federal Reserve were on Main Street, wouldn't people demand to know what the local bank was doing with all their money?

Why hasn't the Federal Reserve received a good robust comprehensive audit?  What does it do with all our money?  How much is it REALLY printing?

Maybe we need new financial managers for the nation?  An honest deal for Americans?

What about those hedge funds?  Are they paying their fair share of taxes to support Mr. Jackson's causes?

[WhiskeyGirl]

Soros Bets on U.S. Financial Collapse
 By Cliff Kincaid  Monday, November 8, 2010

Another financial expert is expressing his deep disgust with the Federal Reserve’s decision to print more money and buy more U.S. debt, saying it is a sign that the U.S. capitalist system is moving closer to collapse.

“This is the type of stuff we accused the communist and socialist governments of doing—interfering in free markets through currency manipulation,” declared Zubi Diamond, author of The Wizards of Wall Street. “What the Fed is doing is not good for free market capitalism and it is not good for America.”

In an interview with Accuracy in Media, Diamond went on to say, “The Fed is following the economic models of Third World countries by printing more money and devaluing their currencies. If you keep doing what Third World economies do, eventually you will become a Third World economy.”

The Fed’s new action, labeled “quantitative easing” or QE2, follows a first attempt at “QE,” known as QE1. QE means that the Federal Reserve is printing more money and buying more government debt. In total, according to Investor’s Business Daily, “the Fed will have created $2.5 trillion out of the blue.”

Diamond said the result of the Fed’s policy will be to “increase the debt, devalue our currency and create a bigger problem that won’t solve the crisis.” Eventually, America could “collapse under its own weight of massive debt,” he warned.

The QE2 “will devalue the dollar and lead to higher commodity prices, asset and price inflation. It may even lead to the end of the U.S. dollar as the world reserve currency,” Diamond predicted. He noted that Obama Treasury Secretary Timothy Geithner floated the idea of the dollar losing its status as the world’s reserve currency, “only to backpedal from it when it raised some eyebrows.”

“What is most troubling to me about this,” Diamond added, “is that the Fed’s QE2 is in alignment with George Soros’s agenda to destroy global capitalism.” The decline of the dollar “is what George Soros wants and what he has proposed in the past,” he noted.

Diamond’s criticism follows the shocking statements of Charles Ortel, managing director of Newport Value Partners, who told AIM that the Federal Reserve plan to buy $600 billion of U.S. Government securities “borders on the criminal” because the impact will be the devaluation of the dollar by 20 percent and the destruction of $10 trillion of household net worth.

Charles Ortel had told AIM that the result of the upheaval will be a new “global regulatory regime” to manage the U.S. and other economies. In this regard, talk of global taxes by the United Nations has increased recently and Obama himself endorsed the concept in a document adopted by the September 20-22 U.N. Summit on the Millennium Development Goals.

Senator David Vitter’s Senate resolution 461 would put the Senate on record against any global tax scheme.

Like Ortel, Diamond notes that previous attempts to “save” the economy through the actions of the Federal Reserve have demonstrably failed. Rather than allow the Fed to pour more printed money into the economy, Diamond said that the new Congress should be “following the money paper trail and try to recover as much of the stolen money as possible.” Instead of holding the looters accountable, he said that the Fed is allowing the looters to digest the stolen money and dig us deeper into the hole.”

Why do some just want a new world order that does not include their money?  Their prosperity?  Why aren't they sharing and moving into the new Obama ghetto?

The Securities and Exchange Commission (SEC), he said, should reinstate regulations designed to protect invested capital from the hedge fund short-sellers. “What is needed is the legal protection for the invested capital, protection for the value of our homes and policies that encourage capitalism and risk taking,” he said. The hedge fund short-sellers should be monitored and regulated like mutual funds, he said.

While Bernanke takes the brunt of Diamond’s critique, Diamond doesn’t lose sight of the President who re-appointed Bernanke to that post.

“President Barack Obama is doing everything he is not supposed to do—and is failing to do the things he is supposed to do—to fix this economic crisis,” he said.

Consider the matter of “stimulus” spending, for example. “Obama got $700 billion in stimulus money, supposedly for shovel ready jobs. But he later admitted there were no shovel ready jobs. So it is just more money down the drain, more debt and deficit, digging us deeper into the hole,” he said.

He concluded, “This is the person the pundits and talking heads on TV insisted is smart and intelligent. Misguided Americans may have inadvertently elected a dummy or an enemy agent as their President. Take your pick.”

I don't think Obama is a dummy.

read more here - http://canadafreepress.com/index.php/article/29682

jmho