Having watched the republican primaries with little enthusiasm. I can now say with confidence that Ron Paul is the only candidate who could offer a compelling and fundamentally different philosophy than Obama’s come the election next year. Romney, Cain, Bachmann, Perry are all the same inside party candidate of government. I actually disagree with Ron Paul on several philosophical issues, however he understands that government – the civil service in league with the international banking cartel is the enemy.
The economic death-spiral that America finds itself in requires that the American common man must launch political war on the public sector (the permanent civil service) of the US government.
As Kyle Bass has recently commented that America has roughly 3 to 5 years before a bond market default, and that is fairly optimistic regarding Europes’ economic woes.
The national debt which must be serviced by future taxes, obviously, is the symptom of Americas New-Deal civil service bureaucracy. The usual suspect banks make money on buying and selling this debt as the primary dealers at the government bond auctions. They directly benefit from government deficit spending. In return the government has its (perpetual and permanent) funding issues resolved by the cheap debt that the banks provide. This is the policy that Greece recklessly pursued, Goldman Sachs had actually provided Greece’s bureaucracy with the derivative, off balance sheet, accountancy tricks to remove debt from their books. That is how Greece evaded the 3% of deficit to GDP limit imposed by the Eurocrats.
The government requires the large banks capital and financial engineering for its own ponzi welfare schemes, and in return protects them through selective regulation.
This is lost on the Occupy Wall Street crowd, who seem to be made up of the same professional protesters of most other selective movements. It has got nothing to do with the 1%, or banks. A majority of banks are small retail banks, they make little money. Its the large monopolistic investment banks, such as Goldman Sachs, JP Morgan, HSBC, Morgan Stanley etc. who rig the market as Martin Armstrong has experienced, with the help of government bureaucrats and regulators. Many of these same bureaucrats later (or previously) work for the Banks, eg Robert Rubin and Hank Paulson. More regulation isn’t the solution its how you regulate wall street and Ron Paul at least to the best of my knowledge grasps this. Its the government bureaucracy that is fighting for its life all around the world in the arena of the debt markets. The biggest bureaucracy of all is the EU, followed by Washington.
America requires cutting around 1 trillion dollars of spending from its budget to just stay solvent. This can be done, but we all know who would lose out.That leaves money printing as the final option so that the establishment bureaucrats and their banking allies can save their hides. It will be interesting to see how the establishment handles Ron Paul, so far he is being ignored by the Media regardless of the good polling.