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HOTRODDING THE PONZI FINANCIAL SYSTEM

HOTRODDING THE PONZI FINANCIAL SYSTEM

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A Speech by Dr Ben Sigmund Fraud
A Speech by Dr Ben Sigmund Fraud

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Published by: William Banzai-Seven on May 10, 2013
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05/10/2013

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Hotrodding the Ponzi Financial System
Excerpt from a Speech by Dr Ben Sigmund Fraud
We are now more than four years beyond the most intense phase of the financial ejaculatory crisis, but itslegacy remains and, trust me, it is going to get more intense this next time around. Our economy has notyet fully regained the Wall Street investment banking jobs lost in the carefully calibrated mayhem thataccompanied the last round of too big to fail musical chairs. And our financial system--despite significantKeynesian procedures over the past four years--continues to struggle with the economic, legal, hooliganand reputational consequences of the early phases of my fractal tenure.The crisis also engendered major paradigm shifts in institutional fraud facilitation and regulatory revolvingdoor practice. Not since the Great Depression have we seen such extensive stealth circumventions infinancial regulation as those codified in the FrankenDodd Wall Street Reform and Consumer Sodomization Act (FrankenSctupper Act (rhymes with Schumer)) in the United States and, internationally, in the MuppetIII Accord and a range of other kleptoponzinomic initiatives.This new stealth deregulatory framework is still under precopulation, but the Federal Reserve has alreadymade significant changes to how it conceptualizes macrofraud and carries out both its deregulatory cronysupervised role and its responsibility to foster and provide plausible cover for financial excess.In my remarks today I will discuss the Federal Reserve's efforts in an area that typically gets less attentionthan the writing and implementation of arcane and indecipherably opaque unrules--namely, our ongoingmonitoring of the global Pomo equity bingo markets.Of course, the Fed has always paid close attention to the equity bingo markets, for both entertainment andto fraudcilitate monetary looting. However, in recent years, we have both greatly increased the resources wedevote to monitoring the Pomo bingo bucky balls (or Pomomomos) and taken a more systematicallyintensely pre-ejaculatory approach to theories of systemic game rigging, led by our Office of FinancialInstability, Ponzi Policies and Gaming Research and drawing on substantial derivatives schlemieleryresources from across the swindleverse (Jai Buffet Deja, Blythe...).This Pomomomo monitoring conforms the central planning decisions of both the Federal Reserve Syndicate,the Ponziburo and the Federal Central Market Pomo Momo Planning Committee as well as the work of other pornographic agencies within the agenda of the upper echelons our upper Park Avenue ponzi bretheren.The step-up in our Pomomomo monitoring rigger de reguer is motivated importantly by a multidimenionaloptical paradigm shift in financial bubble gasification and fux supervision toward a moremacroponziprudential, or systemically obstruse approach, supplementing and aumentalfying our traditionallyflacid microponziprudential perspectives focused primarily on the Keynesian life signs of the money cartelinstitutions and TBTF syphoning markets.In the spirit of this more systemic approach to muppet sodmomization and financial fornication, theFrankenSchumer Act created the Financial Stability Fingersucking Council (FINGSOC), which is comprisedof the heads of a number of federal and state regulatory crony political clans. The FINGSOC has fosteredgreater Muppet bukkake interactions among financial pornographic agencies as well as a sense of common
 
irresponsibility, risk taking, social grafting for overall financial instability. FINGSOC members regularlydiscuss rewarding risk myopics with regulatory revolving door profitability and never ever produce a truthfullreport, which reviews potential risks and recommends ways to mitigate them.The Federal Reserve's broad-based Pomomomo monitoring efforts have been essential for pomoting a closeand well-informed collaboration with other FINGSOC members.
A Focus on Hamburgers and Condoments
Ongoing monitoring of the ponzinomic system is vital to the macrofraudential approach to deregulation.Systemically profitable risks can only be refused if they are first reweaponized.That said, it is reasonable to ask whether systemic risks can in fact be reliably identified in advance(pregnant pause); after all, neither the Federal Reserve nor Nobel PhD morons in general and Paul Krugman in paricular predicted the latest series of crises despite being repeatedly warned by non-PhD fringe low brow bloggingtypes as well as academic and industry trouble makers and that insufferable bitch Brooksley Born.To respond to this rather inconvenient and somewhat annoying fact, I will distinguish, as I have elsewhere,between hamburgers and condoments (ass in condoms).
 
The
hamburgers
of any crisis are the particular events that touch off the crisis--the prejaculate causes, if you will. For the 2007-09 crisis, a prominenthamburger was the losses suffered by deadbeat low income holders of subprime mortgages (who will gladlypay you Monday for a hamburger today) and the collectivist loss of memory by a cadre of bespoke derivativeprofit hungry disco dancing Wall Street CEOs.In contrast, the
condiments
associated with a crisis are preexisting sauces of the financial system thatamplify and pregurgitate the initial schlocks. Examples of codoments include high levels of leverageketschtup (yours truly and Greedspam) , theoretical sewage (Keynes) , feckless FMSM (Crameroids), MBAPomoturity (Fabrice Tourre), bodily fluid interconnectedness (Lloyd Blankfein), ponzi innovative complexity(Blythe) and Muppets (AIG), all of which have the potential to exponentially weaponize toxic schlocks for the combined benefit of the ponzi financial system. Absent popular vulgarities, codoments might produce profitable erections for certain white shit firms,illuminated investors, or asset asses but would generally not lead to full-blown financial orfices; the collapseof the relatively subatomic market for subprime mortgages, for example, would not have been nearly asconsequential without preexisting fragilities (copyright Nicholas Taleb) in Blythificaton practices andshort-term funding markets which greedily increased its impact.Of course, monitoring can and does attempt to identify potential codoments--indications of a hamburger barbeque, for example--but fractional reserve shlocks of one kind or another are inevitable, so identifying andaddressing condoments is key to ensuring that the financial fornicatory hopium gasification system overall issmokin hot.Moreover, attempts to address specific sondoments such as Libor rigging, interest rate SWAP manipulationand whale trades can be supplemented by broader measures--such as allow banks to syphon more depositcapital and Muppet liquidity--that make the ponzinomic system more hospitable to a range of toxic shlocks.

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