Mega Banks Fail Shareholders, Shadow Banking System Fails Pensioners.
The big banks have concentrated 80% of the wealth of our nation into seven corporations who by US Treasury standards are “Too Big To Fail”. However, fail they will. The shadow banking system manages more and more of our pensioners’ capital. These pensioners do not realize that these “risk managers” have been devaluing these investments by simply “trading” off of market indexes without any real assets. The reality is that behind these so call investments that are simply allocations of other people’s’ money to their friends who have Ivy League MBAs, PhDs or were just college roommates is nothing. Our money is gone so what is the solution?
Liquidate any stock or bond positions and convert your assets into hard assets. Is this a reality or just an idea?
We need a responsible leader who understands…
- ERISA and Taft-Hartley and the inherent risks therein;
- Our fragile banking system;
- Re-engagement of community banks as local depository & fiduciary for our personal cash.
While being willing and able to acknowledge;
- Pensions are underfunded by at least 70%.
- Unfunded mandates will require 170 trillion dollars in the future.
- Our national debt clock is currently at 19.4 trillion dollars and climbing steadily.
- Tax hedge funds and private equity fund manger’s fees and carried interest as current income, annually.