Posted On: August 8, 2008, 1:31 pm CDT

Posted By: Frequency Kenneth

"United, a mortgage insurer, posted a $440 million operating loss in the second quarter. 'AIG waded into waters it did not fully understand. It is typically an insurer, but really spread out into different risky assets that have only now come home to roost,'"

Anyone who understands the true nature of the U.S. monetary system-i.e., a monopoly on money and credit creation by a central bank-saw this coming. If you don't believe this check archived articles at websites such as lewrockwell.com, mises.org, & garynorth.com (as well as many others)which were written as far back as 2005. That AIG didn't shows that they don't understand the laws of economics and believed that wealth can be created by merely printing money and extending credit to anybody & everybody. Of course, that's no surprise because that's what the most prestigious universities preach (and I mean "preach" in its most literal sense, i.e. as in religious). The unflagging belief in the invincibility of a central bank is probably the world's most widely practiced religion.