Charles Hugh Smith has a thought-provoking piece on Business Insider today. The opening statement says it all:
Anyone who believes the foreclosure crisis can be contained is deluded, because the real issue in play is the citizens' trust in their government's ability to govern the nation's Financial Elites according to the rule of law.
He then paints a picture of a government that favors a powerful minority over the majority:
Clearly, our government has failed its citizens--utterly, completely, totally, at every level of governance (Federal, State, local) and at every level of oversight and regulation.
The bitter truth is that the nation's Financial Power Elites are not constrained by rule of law, and as a result of this revelation Americans' trust in their government and political class has been shattered.
After explaining how the Fed has devalued the dollar in order to boost exports, Smith ends with a warning:
If they haven't already lost faith in the Federal Reserve, the citizenry soon will. They have already lost trust in the Federal government and the political lapdogs who occupy the seats of power. The Great Unraveling has just begun, and there is much more to come.