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Thursday, May 7, 2009

Stress Test Fnord

There's been a lot of hype about the banking industry "Stress Test". Each large bank is required to prove that they have sufficient reserves to withstand another severe deflationary recession/depression. Banks that don't qualify must sell assets or raise more capital.

This is merely one big fnord designed to distract attention from the real issue, which is the immoral nature of fiat debt-based money.

Insiders are pretending to severely scrutinize the banking industry, to insure that there is no repeat of the recent recession/depression. Via the Compound Interest Paradox, the rules of the monetary system guarantee an occasional severe economic crisis.

The whole "Stress Test" process is designed to provide the illusion of sound regulation of the financial industry, and cover up the fact that the USA has a completely corrupt monetary system.

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