I used to like Business Insider as a fluff news site....but they have now become one of the biggest mouth pieces for wall street, the fed and it's banking cronies....This fairly new start up web site was developed by its founder and first rate white collar criminal, Henry Blodgett and his cabal of elitist thugs. Their goal is becoming apparent, indoctrinate us all to the New World Order.
In case you don't remember who Blodgett is, maybe this will remind you....
"In 2002, then New York State Attorney General Eliot Spitzer, published Merrill Lynch e-mails in which Blodget gave assessments about stocks which allegedly conflicted with what was publicly published. In 2003, he was charged with civil securities fraud by the U.S. Securities and Exchange Commission. He agreed to a permanent ban from the securities industry and paid a $2 million fine plus a $2 million disgorgement."
Henry Blodgett has never gotten my ire up before, but when his colleague and fellow elitist cronie penned this I became livid.
"Why should the decline of a relatively irrelevant commodity such a reaction?
There's two reasons for this:
- Gold bugs are frequently jerks.
- This vindicates the economic ideas of the economic elites.
The latter point is the most significant.
To respond to the economic crisis, economists and mainstream policy makers have favored highly unusual policy measures (massive Fed balance sheet expansion, massive stimulus, etc.). These are usually based on years of traditional economic research (Keynesianism, monetarism, etc.).
All of these ideas have been slammed by heterodox types like Austrian economists, who have warned of hyperinflation, and gold going to $10,000.
So the collapse in gold is not about gold, but about vindication for a large corpus of belief and economic research, which has largely panned out. It's great that our economic elites know what they're talking about, and have the tools at their disposal to address crises without creating some new catastrophe.
Things aren't great in the economy, but the collapse/hyperinflation fears haven't panned out, and the decline in gold is a manifestation of that."
Let me get this straight, HE WANTS TO VINDICATE THE ECONOMIC IDEAS OF THE ELITES!!!! The same group of people that caused the collapse in the first case!!!!!!!!!!!!!
Am I insane or something!!!!!!!!! (Don't answer that! lol) He believes the TBTF Banks, bailed out by you and me remember? The elitist economist, who believed their was no housing bubble and Bernanke's Fed who just months and weeks before Bear Stearns collapsed told us all that the US economy was in great shape. This idiot wants us to vindicate these traitors and wealth stealers!!!!!!!!!!!!
Well no sir. I will not follow your lead. I will not delight in the manipulated decline of gold by the forces you work for, nor will I stand and cheer for the men and women that have brought pain and suffering to millions of Americans. I deplore your elitist attitude and your Ivy league silver spoon swagging mouth that allows you to opine messages of absurdity to the people who will suffer the most from your reckless verbiage!!!!!!