armstrongeconomics.com / By Martin Armstrong / February 8, 2013
Tim Geithner has resigned as US Treasury secretary. He was the man who protected the bankers no matter what they did. The “Geithner Doctrine” applied this theory of “Too Big To Fail” to corrupt bankers that manipulate everything they can for quick profits. They constantly blow up for they view it as they have done a reverse takeover of government. The bullshit is – government will go bust without them. Who will sell their debt? The debt is what creates such political corruption that it does not matter if we are talking about Republicans or Democrats – they both have their hands out with the bankers.
The debt has also rendered the USA with erectile dysfunction. Why do you think both China and Russia are pushing Japan around? They both know the USA could NEVER go to war against them because they rely on their political adversaries to fund the bonds. What do you do now? Excuse Mr. China, here is a few trillion in bonds we would like you to buy so we can wage war against you? Come on. Japan is on its own. The USA has lost all power because of the debt. It can beat its chest all it wants, but it has erectile dysfunction politically.
Geithner and his band of thieves has totally screwed the USA and the world economy. There is NO bank that is “Too Big to Fail.” There is a whole level of banks ready to step up to the plate. Goldman Sachs is not even a bank in real terms. They do not take deposits from little old ladies. They are traders using other peoples’ money – that’s it. We do not need the debt and almost 70% is going to interest anyway. It is the total destruction of everything everyone believed in their whole lives. Geithner institutionalized the corruption. Why should banks do anything but risk it all all the time when they know if they win, they keep everything and when they lose, the Taxpayer eats their losses. Goldman even had the balls to get their new offices under the the 911 Liberty Zone so they didn’t have to pay taxes. Talk about using the dead bodies for profit.
