EXTEND & PRETEND: Uncle Sam, You Sly Devil!

The Market Oracle ^ | 4-30-2010 | Gordon T Long

[blam]

EXTEND & PRETEND: Uncle Sam, You Sly Devil!

Interest-Rates / Credit Crisis 2010
Apr 30, 2010 - 10:20 AM
By: Gordon T Long

The modus operandi (MO) of deviant behavior aids investigators in doing criminal profiling. Forensic accounting takes a similar approach and leads us to some unnerving conclusions about Uncle Sam. As Tax Payers we place our sacred trust in our elected officials and government. Is that trust being handled similarly to how Goldman Sachs apparently has been handling its fiduciary responsibilities?

Has our government been playing accounting games like European tax payers discovered in Greece and like many angry tax payers are now discovering in local, city, state and sovereign governments across Europe and the US? All are now learning how the use of off balance sheet accounting and cleverly structured Interest Rates Swaps have been applied to obscure visibility to toxic debt levels from the very tax payers who will be responsible for the debt obligations.

Is our government playing the role of Jack Nicholson in “A Few Good Men” when he condescendingly justified his behavior, yelling in the courtroom: “You can’t handle the truth!”

If you can handle the truth then let me explain some very suspicious behavior of our trusted Uncle Sam.

WHALES MAKE WAVES

In two recent articles in the Extend & Pretend Series, I laid out eight suspicious anomalies that few professionals can presently explain.

Though there are more suspicious anomalies than the above list reflects, I want to add a ninth before we proceed with attempting to make sense of them.

SUSPICIOUS CLUE #9 – US TREASURY PURCHASES ARE SUDDENLY COMING FROM THE CARRIBEAN & UK (Channel Islands)

[snip]

[OneWingedShark]

Good read; a bit dense but quite illuminating/frightening bit of speculation on how we, the taxpayers, are being played as the fools in this big ‘game.’