What would mainstream economists have advised Bernie Madoff to do?

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?

Read the full post on NotQuant

6 comments on “What would mainstream economists have advised Bernie Madoff to do?
  1. mijj says:

    Political, Economic and Mass-Info-and-Perception Management .. all inter-related in their utter fraudulence and deception – all designed as a system of Power management.

  2. mijj says:

    we need to be clear about exactly what kind of scum are destroying us:

    Das Ich – Kannibale

  3. William says:

    The UNITED STATES OF AMERICA (ALL CAPS) is a corporation incorporated in Puerto Rico.

    The United States of America (small case)is a country.

    US Treasury notes are sold by the UNITED STATES OF AMERICA. All they need to do is declare bankruptcy, just like any other corporation.

  4. tom not terrific says:

    And now all of Wall St. can say, “look, we were punished.”

  5. JB says:

    It’s NOT a Ponzi Scheme as long as the Government gets their fair cut.

  6. jischinger says:

    this is how the free market should works – with greedy people making greedy decision and losing their greedy shit and this greedy guy going to jail and losing his greedy shit

    sad we the tax payers have to pay for his upkeep

    end usury

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