Friday, February 20, 2009

Volcker - "The Mother of All Financial Crisis."

Really want Volcker to be in charge? Careful what you ask for...

Volcker has become somewhat of a folk hero lately due to the fact that he developed an "anti-Greenspan" reputation for doing what he thought was right in the 1980 time frame by raising interest rates to 20%. Yes, that broke the back of inflation only 9 years after Nixon took our currency off the gold standard.

But prior to him doing so we used to have USURY laws that prevented "Guido" interest rates like those you see on today's credit cards. The undoing of the concept and enforcement of usury is one of the roots of today's current problems. Please think about that.

Also, Volcker is on record supporting the "one world" financial concept. A concept where the central bankers are at the heart of the fiat debt based money system of the world.

At any rate, here he is speaking today. Did he see this crisis coming? No? If I can see it coming, why can't he? Sorry, age alone does not translate to being an adult or a leader. Where is that adult leader? Is Volcker it?

Volcker: Mother of all Financial Crisis (7 minutes):