Wednesday, July 4, 2012
La Danse Macabre
Open your favorite newspaper and chances are you will see something about the "LIBOR" scam that has apparently rocked the UK Financial world and has "shocked" financial investors and regulators around the world.
Unfortunately though for the common investor/citizen this entire story is but a foregone conclusion. For years its been known by just about anyone who has cared to investigate high financial crimes, rigged markets, ponzi schemes and racketeering of financial regulatory committees (i.e. the Matt Taibbi's and Max Keiser's of the world) that this scheme has been going on for decades. So really what is the story here? I think its something more along the lines of we are finally willing to admit to ourselves that in fact we've been assaulted. It's as though the roofies have finally worn off and now we see the skin bruises and other signs of overt assault by the rapist who has since fled the scene. And so now we are faced with the question - do we suck it up and go on with "business/life as usual" or do we go to our corrupt police officials, bought and paid for politicians and myopic mainstream media outlets with this information and demand accountability in the form of immediate arrests of the perpetrators? Do we plunge forward into the abyss of "just how deep does this go?" or do we relegate ourselves to eternal victimhood and tell ourselves we deserved it because we are too stupid to know how the system really works anyways and besides who are we to question the judgement and wisdom of our ruling overclass? After all - they are the geniuses of our society that run the economy right?
Let's just assume for a moment that this LIBOR scandal does blow up and take down the top brass in the western banking nations to the point that basically everyone at the top of the financial food chain is implicated - just think for a moment what that would mean. It would mean that right now we are in the final descent into Hades - right now we are being forced to watch the "Danse Macabre", the great unwinding of all that is false upon which we have predicated our great nations and civilizations. All that we believed was "just" and "fair" and "meritocratic" will be shown to be what it truly is - an utter farce. All of our great leaders with their great ideas wont be able to save us once the rubicon has been crossed. It would be like driving on the highway and suddenly having someone call you on your cell phone to tell you that your brakes are missing - the best you can do is hope to guide yourself towards some safe landing zone or embankment but one thing is sure - you are going to crash and it would be completely undeniable in spite of whatever pep talk you give yourself. So that is, perhaps, where we are right now, in the opening act of "La Danse Macabre" to which we have a front row seat to watch the Grim Reaper known as "Reality" slowly conduct and lead the zombie banks and their zombie hedge fund managers, traders, arbitrageurs and racketeers through their final act of self-destruction before the dawn of a new age is possible....
La Danse Macabre