Larry Summers, engineer of the housing bubble and gold price suppression, is returning to power on Monday. Ditto, the folks who lost $3.3 trillion at the Pentagon.
Now Paul Volcker, former Fed Chairman appointed the leader of the new Administration’s economic recovery team, is popping out a plan to redo our financial system. Turns out the “solution” to what ails us is to give vastly increased powers to the very parties who perpetuated the problems.
A government that does not have financial sovereignty is not a government. It is a bureaucracy that represents private interests that control through debt and invisible force.
As Bill King says, “You just could not make this stuff up.”
Volcker Presents Plan to Alter Global Financial System
Washington Post (15 Jan 2009)
Volcker’s Recommendations to Improve the Global Financial System
Group of Thirty: Financial Reform
Paul Volcker’s Wikipedia Bio
wikipedia.org
Paul Volcker’s Resume
Financial Economics Today