Sunday, January 9, 2011

If the Fraud Stops, the Financial System Collapses

by Charles Hugh Smith from his blog

Unfortunately, this is the only entry I could find for today--and I found this at the last minute before my deadline of noon, Seattle time. Briefly, I think he makes many good points, but where I differ is that I believe that the capitalist system is INHERENTLY corrupt--the system IS organized crime. And it has always been that way, only now it is much worse.
Fraud, collusion, embezzlement, manipulation and misrepresentation of risk are not isolated incidents, they are now the essential fabric of our entire financial system.

Though fraud and complicity are presented in the mainstream media as isolated conspiracies outside the status quo, the truth is that the status quo is now entirely dependent on fraud and complicity for its very survival. Every level of the status quo would immediately implode were fraud and complicity suddenly withdrawn from the system.