Capitalism Stumbles: by Robert Kiyosaki, Yahoo April 14, 2008, 12:00AM
"Most of us are aware of the sacrificial slaughter of Bear Sterns. Some people call it a bailout, but I call it a handout -- a government handout to some of the richest people on Earth, paid for by American taxpayers.
It's the survival of the richest, and the poorest be damned. There's something dismal about a society that operates by those values....
When Capitalism Stumbles
Bailing out the rich means over $800 billion from the Fed's magic checkbook entered the market. Immediately, the stock market rebounded and the price of gold and silver declined. The U.S. dollar strengthened against the euro. While this looks like a good sign, I'm afraid the problem isn't solved. The inevitable may only have been delayed.
Our problem is a toxic U.S. dollar. Printing funny money steals from the poor and middle class, savers, and the elderly. It may be legal, but it isn't moral or ethical. As long as the Fed is allowed to wield its power at will, the prices for food and fuel will only go up.
So will the price of gold and silver. Some are calling for gold and silver to go over $2,500 and $200 an ounce, respectively. Some even believe gold will go as high as $5,000 an ounce. I hope not. While I get excited about seeing the gold I purchased for less than $300 an ounce flirt with $1,000 an ounce, I also begin to worry.
The rise in the price of gold is a sign that capitalism has stumbled. And when capitalism stumbles, workers' wages buy less and savings are wiped out. Even gains from the stock market are diminished because our dollar gains are worth less..."
Norton's comments: dollar devalution is a not so hidden tax increase; so is the Bear Stearns bailout, the FED cure by swapping junk derivatives for US treasury collatoralized loans / buyouts
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