Second Chance: for Your Money, Your Life and Our World by Kiyosaki Robert T

Author:Kiyosaki, Robert T. [Kiyosaki, Robert T.]
Language: eng
Format: mobi
Tags: Business & Personal Finance
Publisher: Plata Publishing, LLC
Published: 2015-02-04T05:00:00+00:00

President Ronald Reagan (1981-1989)

President Reagan was in office during the 1987 stock market crash, known as Black Monday. The chart of that crash is pictured below.

To prevent future stock-market crashes, in 1988, President Reagan created The President's Working Group on Financial Markets. Today, it is known as The Plunge Protection Team, or the PPT.

Q: What does the Plunge Protection Team do?

A: No one really knows… or few people are willing to talk about it.

Q: What happens?

A: Today, whenever a crash occurs, a mysterious no-name-buyer enters the game, via futures markets, purchasing massive quantities of "derivatives" through giant banks such as JP Morgan, Goldman Sachs, and off-shore accounts. These mysterious, invisible buyers have the power not only to stop a crash, but prevent other markets, such as the gold and silver markets, from rising. The next time you see a market crash that "miraculously" recovers, it could be Foxy Loxy in action. The government's Plunge Protection Team at work, keeping the markets propped up… until the day when the manipulations will no longer work.

Q: Is this why rich dad's prophecy of a giant crash in 2016 may not occur?

A: Correct. Manipulated markets can be propped up, preventing the crash.

Q: For how long?

A: Who knows?

Q: What's wrong with manipulating the financial markets?

A: It protects gamblers. And goes against the free market forces. Today, millions of people invest foolishly because they know the government will not let the markets crash.

Q: So what's wrong with that?

A: It prevents investment money from going into businesses and factories that create jobs. The money stays in the markets—the casinos—not the economy.

Foxy Loxy will tell you he's protecting you, but he's really protecting the big banks and their casinos.

Q: How does he do that?

A: Again, there are many ways. One way is through the FDIC, the Federal Deposit Insurance Corporation.

Q: What does that organization do?

A: It insures savers' deposits. When the 2007 crash began, the banks were afraid that people would start withdrawing their savings. So the government instructed the FDIC to increase the deposit insurance ceiling to $250,000.

Q: What's wrong with that?

A: It makes savers careless. Rather than assess the soundness of the bank, the saver blindly puts their money in any bank that offers FDIC insurance.

Q: And what's wrong with that?

A: The FDIC is broke. It does not have enough money to cover the next crash.

Q: What's wrong with that?

A: If there is another crash, the FDIC will go bust. And the taxpayers will once again bail out the banks—to the tune of up to $250,000 per savings account.

Q: So what's wrong with that?

A: The losses will be in the trillions. Your children and their children will be bailing out the banks via their taxes for years and years.

Q: So Foxy Loxy says, "Your savings are insured," but he fails to say that the FDIC is broke and the taxpayer will foot the bill if those insurance payments need to be made?

A: Yes. Foxy Loxy will always say what you want to hear and want to believe.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.