The Ruling Elite Will Profit Greatly from Your Loss

"Therefore, if it comes to a choice between sacrificing the U.S. stock market and/or the U.S. economy by throwing it into a depression so as to save the dollar and the bond market, I have no doubt such steps would be taken. There is little doubt in my mind that that is what the ruling elite will do, not only because their very existence will depend on it, but also because they will have positioned themselves in advance to profit from a catastrophic economic decline of us common folks. The notion that we have policy makers who sincerely care about the American people is of course a notion that must be fostered to maintain civil order. But I think if you read books like "The Creature from Jekyll Island" by G. Edward Griffin, or "Confessions of an Economic Hit Man" or "The Shadows of Power" by James Perloff, to name just three sources, you will begin to understand that the President and the Congress are more or less puppets to those who fund their campaigns and print the money to keep government debt financed. In other words, the banks, major corporations, and the folks that have been cashing out of stocks over the past few years even as CNBC continues to encourage you to keep putting your 401-k money into stocks.

So, will President Bush and Alan Greenspan or his successor have the courage to throw the U.S. housing market, the U.S. economy, and the stock market to the wolves in order to restore balance to the global markets and thus save the dollar? I don't know about the courage of President Bush or the Fed Chairman. But what I am more confident about is that ultimately Mr. Bush will be guided to make the decisions that benefit the ruling elite, and when those choices conflict with the best interests of the American people, the American people will just have to suffer."

Jay Taylor on US Markets and Gold