Just over two weeks ago, Bernie Madoff’s accountant finally plead guilty to fraud after six years of defending himself.
He was sentenced to 30 years in prison at the age of 78.
While he admits to falsifying records, to this day he claims he had no idea that Madoff was running a ponzi scheme.
The prosecution has called b.s.
Why? Because as they noted, you can’t spend your career pouring over the finances of a ponzi scheme and not know it’s a ponzi scheme.
Let’s think about this case in the context of a larger fraud:
The US Economy is also a ponzi
That the US economy is also a ponzi scheme, is now plainly visible to anyone who is paying attention. “Growth” in the centrally-planned, virtual-economy of the USA no longer arises organically through the traditional means of productivity, labor, savings and investment — it comes artificially in much the same way that “growth” was achieved by Bernie Madoff’s now-imploded fund. “Growth” is goal-seeked by central planners and their foreign cohorts who long-ago abandoned the principals of free-market economics in favor of protecting the status-quo.
This is no secret, of course: The many exposés of our artificial engines of growth have come thick and thin in the past few years with countless books, articles, documentaries, blog posts and rants all proving beyond a shadow of a doubt the the US economy is a mirage. The death of free-market economics, and the rise of our monetary-mandarins has hardly gone unnoticed by the public…
Despite the obvious artifice, countless mainstream economists (cough, on the fed-payroll cough) spend their days publicly trying to think of some “way out” of the miserable situation the US economy finds itself in — as if the disaster which now looms large on the horizon is somehow avoidable. To which we would ask:
Was the final “collapse” of Bernie Madoff’s ponzi scheme avoidable?
And if not, why should it be avoidable for the USA?