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Tuesday, September 7th 2010

10:42 AM

My Seeking Alpha Article About the Tea Party and Basel Three Caused a Tempest!


My recently published Seeking Alpha Article is entitled: Does the Tea Party Understand the Attack by Basel 3 Against Taxpayer Sovereignty?

In all fairness, it is a question and an attempt to educate. However, in the comments sections I was attacked by these no names who come and comment and never reveal who they are. That always bothers me that they cannot man up and disclose their identities. I am called a leftist because I oppose fascistic melding of the banking, industrial and government sectors. I am called a Tea Party basher because I have not seen any evidence that they are opposed to government guarantees for the GSE's, and because I fault them for blaming the borrowers rather than the lenders for the ponzi housing scheme.

Frankly, I am mad about the responses, but that is what you get when you stick your neck out into the public eye. Still, I stand by my convictions. If the Tea Party comes around to attacking Basel 3 I will let you know here. I am still waiting, and waiting.

My hope is that the Tea Party would come around. But what will really happen is that they are not too keen on blaming the TBTF banks and the central banks for the ponzi meltdown. They would rather blame the borrowers and divide mainstreet. They need to start putting the blame where it belongs, and they need to provide an intelligent understanding of the issues instead of a knee jerk anger at politicians which does no good. They will be used and thrown away just like other movements that have sought to gain approval of the major financial powers.

Don't be fooled: the Tea Party wants to either destroy social security or deliver it to Wall Street for their manipulation and profit. This is just one of many ways in which this movement wants to attack mainstreet.

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