Christian based commentaries and observations.

Quote of Note

Billy Graham's Prayer For Our Nation



: 'Heavenly Father, we come before you today to ask your forgiveness and to seek your direction and guidance.
We know Your Word says, 'Woe to those who call evil good,' but that is exactly what we have done.

We have lost our spiritual equilibrium and reversed our values. We have exploited the poor and called it the lottery.

We have rewarded laziness and called it welfare.

We have killed our unborn and called it choice.

We have shot abortionists and called it justifiable.

We have neglected to discipline our children and called it building self esteem.

We have abused power and called it politics.

We have coveted our neighbor's possessions and called it ambition.

We have polluted the air with profanity and pornography and called it freedom of expression.

We have ridiculed the time-honored values of our forefathers and called it enlightenment.

Search us, Oh God, and know our hearts today; cleanse us from every sin and Set us free.
:
: Amen!'
:


Wednesday, March 25, 2009

A Higher Shoe


Well, no sooner had I made my last post when Ben Bernacke of the Federal reserve announce that the "Fed" would buy up 1 trillion $ of those bonds floating around out there. Bernie Madoff's lawyer just fell out of his chair. The government has entered the Ponzi scheme business. The Fed is printing money to buy up the printed money of the Treasury. HHMMMM!
Here on Cape Cod, and I'm sure in other places too, a scheme became popular where a criminal would open up several checking accounts at different banks with overdraft protection. After drawing down the majority of the required opening deposit, he/she would begin to write checks to themselves rolling one bank at a time. The proceeds would be dumped into the last bank in the chain. The checks would get bigger and bigger until, finally they withdrew the funds and left the second to the last bank holding the bad paper. Timing for banking holidays and week ends was the crucial part of the whole scheme. One bank on Nantucket got stuck with a $14,000 bad check.
One has to wonder if "Bernie Bernacke" and "Ben Madoff" ever shared a ferry ride to the island for a summer vacation, picked up the newspaper, on a certain day, when the check ponzi scheme on that Nantucket bank was announced. I wonder if the both went, "HHMMMM"!
One has really got to wonder how the Fed plans to eventually unwinde thier new position in junk securities. You cannot even sell a million a day to get out of a trillion. Some congressman recently made the statement that, " if you spent a million dollars a day since Jesus was born, you still would not have spent a trillion"!
The shoe to drop just got raised a little higher!

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