Confirmation is conformation

The confirmation of the chairman of the Federal Reserve System consummates the conformation of an International Financial Cartel and the US Government. Conformation illustrates another example of a non violent capture of the US Government. Taxpayers are constantly told that the bailout saved the world from another Great Depression.

Truth told the bailout only covered the losses of speculator who were caught exposed to global defaults. Confidence was disabled, disrupted and destroyed when counterparties involved in a counterfeit shadow monetary system stopped payments. Taxpayers were convinced by government to fall on the debt sword and save a global financial system.

This mantra will persist at a lowering volume until the last financial institution is out of the TARP system. Fed, SEC, CFTC and other agencies failed to perform their fiduciary duty. A failure to monitor the capitalization requirements of financial institutions under agency jurisdiction also provided cover to justify a bailout

It was default of debt that caused the current recession. As long as the powers that be ignore defaulting debt this recession will get worse. There are defaults coming from the top of Wall Street to the bottom of Main Street. These defaults are the moral hazard of fraud and complacency.

Taxpayers have been exposed to an unsustainable repayment structure. A retailer and staff abandoned a liquor store which is opposite a senior high school. All doors were unlocked and left wide open. The retailer and staff are delusional if expecting no alcohol missing when they return.

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