Screw the Banks and Investment Firms

[cowboyangel]

It’s official. Mark your calendars. The crash of the U.S. economy has begun. It was announced the morning of Wednesday, June 13, 2007, by economic writers Steven Pearlstein and Robert Samuelson in the pages of the Washington Post, one of the foremost house organs of the U.S. monetary elite.

Pearlstein’s column was titled, “The Takeover Boom, About to Go Bustâ€

[can't sit still]

Cowboy, Cook does some great writing. What I find is that all writers are avoiding stating the obvious. The US did everything on borrowed money. When forced to rely on our own productivity, WE can't support half of the Starbucks,,, half of the auto manufacturers,,, half of the banks AND half of the GOV. GOV spends 36 % of the GDP.
I don't see any writers calling for the GOV to diminish itself by 50 %.

[cowboyangel]

That Gov spending especially on the defense dept and all its toxic appendages, is unlikely to cease because that's the only thing that gives the dollar strength. The Gov and its handlers in the Fed and Wall St. will let us rot in our homes to maintain control over the economy. They are getting what they want....the third-worldization of the US and fire sale prices on tangibles. Just today, California floated the idea of off shore oil drilling to help pay for its budget and Schwarzenegger is talking about selling San Quentin...in a depressed real estate economy, that nice chunk of land would probably go at fire sale prices as well. Who benefits? We must ask this question over and over.

The government is beyond fixing. It is hopelessly corrupt. That means only one thing. Wake up America.

[cowboyangel]

on another note, isn't it interesting that this thread has 513 replies and a total of 13,302 views. Who's watching?

[Elderberry]

on another note, isn't it interesting that this thread has 513 replies and a total of 13,302 views. Who's watching?

Well, when you hear the helicoptors and the knock on your door in the middle of the night, I guess you'll know.

JK

[cowboyangel]

on another note, isn't it interesting that this thread has 513 replies and a total of 13,302 views. Who's watching?

Well, when you hear the helicoptors and the knock on your door in the middle of the night, I guess you'll know.

JK

yeah...and that from your friend the Obama Administration, new champions of Wall St.Treasury management, Renewed Military Tribunals in Gitmo, Soon to be witnessed attacks on Social Security and Medicare, (Bush couldn't even do that) 97 billion more for our illegal wars, extensions of the Patriot Act......gee...if it looks like Bush, acts like Bush....it must be a BUSH!

[Toolmaker]

on another note, isn't it interesting that this thread has 513 replies and a total of 13,302 views. Who's watching?

I'm watching!

Just another member of the choir here..

I think alot of the Obama folks are gonna go crazy soon. Alot of them really belived that plutocrat when he promised change. They really didn't get that he was promising pocket change. Eventually they will all have to admit that hes no different than the predecessors. Just another corp lackey representing those that gave him the money to buy the election.


A great man once said..

"make friends with a farmer"

[Elderberry]

I'm still OK with Obama.

Another person once said "You can please some of the people all of the time, all of the people some of the time, but you can't please all of the people all of the time."

Time will tell.

JK

[can't sit still]

We got fucked good in 1913 with the creation of the FED. 16 years later, we entered the great depression because of a good rogering by the FED. That is why our constitution allows only GOV to print and coin money. Canada used the Guernsey example to coin their own money. It brought them prosperity. Eventually, the bankers convinced the politicians to allow the bankers to once again print money. Destitution followed. Destitution is a guarantee until we follow our constitution and throw out the bankers.

SNIP

On October 16, 1816, the government of the Island of Guernsey needed to spend 5,000 pounds, but only had on hand 1,000 pounds. Under Brock's leadership, it decided to issue 6,000 pounds in 1 pound notes and declared that "in this manner, without increasing the debt of the Island we can easily succeed in finishing the works undertaken, leaving in the coffers sufficient money for the other needs of government." From that small beginning, the managed currency system of Guernsey Island grew until 1837 when after issuing and using in the twenty year period over 80,000 pounds, there still remained in circulation some 55,000 pounds of State notes.

After giving a somewhat exhaustive review of the use of "national currency" to relieve the situation and to restore prosperity, the report goes on to state: "It is said, the powers of the human mind in society, lies at times torpid for ages; at other, are roused into action by the urgency of great occasions, and astonish the world by their effects. This has, in some measure, been verified in this Island, for though nothing done in so small a community can cause a general sensation, its exertions may yet produce wonderful results, within its own sphere. It is the duty of the States to show that, roused by the deplorable situation as described, they took, and have since pursued the steps best adapted to meet the exigency of the case, and that those steps have been attended with complete success".

Quite naturally, the bankers organized themselves against Brock, and upon the ground that "the privilege of issuing paper currency was the vested right of the bankers which the government had no right to disturb" they overwhelmed Brock's opposition and induced the representatives of the people to restrict the right of the government of the Island to issue paper currency and to share that right with the private banks. In his message to the States meeting held on September 21, 1836, he unsuccessfully warned the people against giving up the right to issue their own money. One hundred years later that Guernsey experiment reached all the way to Canada to make a big difference in the lives of all Canadians from 1935 to 1974.

In Canada during the distressed hardship years of the 1930's, Gerald Gratton McGeer, Vancouver Mayor, Canadian Senator, Liberal MP, twice B.C. MLA, a brilliant lawyer K.C., a natural economist and well researched monetary-reform historian became greatly inspired by Brock's indisputably proven "success" on the Island of Guernsey; the "verified effects" of which should "astonish the world." McGeer, with excellent insight, solid economic knowledge, powerful rhetoric, armed with solid "down-to-earth" logic was able, single-handedly, to sideline, in 1933, the Lord Macmillan Banking Commission and their banker backers and convince politicians of the day to adopt a policy that worked so well on the Island of Guernsey. Only government has the legal right to create the "State's" currency for the social and public needs of the country.

To quote Gerald Gratton McGeer from his book, The Conquest of Poverty: "Necessity now compels all to recognize that the creation and issuance of the medium of exchange, the monetization of public credit, the circulation of the medium of exchange, and the general supervision of the monetary system must be restored to government."

McGeer's recommendations were written into the Bank of Canada Act. The Act was approved and received Royal assent on July 3, 1934. Those recommendations are still there today and could be re-applied.

McGeer's boss, the new Prime Minister of Canada in 1935, spoke these words: "Until the control of the issue of currency and credit is restored to government and recognized as its most conspicuous and sacred responsibility, all talk of the sovereignty of Parliament and of democracy is idle and futile ... Once a nation parts with control of its credit, it matters not who makes the nation's laws." Thus, the Bank of Canada was born. It opened its doors on March 11, 1935 and immediately printed "legal tender" on behalf of the people of Canada to put people to work and to put into circulation the money needed for its citizens to buy from each other was produced and what needed. Private bank money was phased out over the next 10 years. As a result of that government management using our new National Bank of Canada, we became a nation that put everyone to work, fought a war, built the third largest navy in the world, gave grants and free university education to returning veterans and then built the excellent infrastructures, social programs and services that are still with us today. For the next 35 years our national debt remained low. In 1974 it stood at a mere $18 billion dollars. That is less than half of what our B.C. debt is today. The Fraser Institute in Nov 2006 listed our current direct national debt as $798 billion, upon which we collectively, with our tax dollars, pay over $40 billion a year in interest.

In the mid-1970"s the private bankers once again "induced the representatives of the people to restrict the right of government" to issue and control the national currency. Canadians now are deeply in debt, public assets are being sold to help fund the social programs that are cut back for want of money. Gambling, lotteries, marathon runs are now promoted to help fund hospitals and research programs.

Sir Isaac Brock's brother Delisle, showed the world that there is a better way. Our unacknowledged, "greatest Canadian", Gerald Gratton McGeer was able to implement that better way for a few years right here in Canada, and it worked.

Information source: Gerald Gratton McGeer's book The Conquest of Poverty published in 1935, not available in our public libraries, Guernsey Island Archives, The Guernsey Experiment and the Canadian Encyclopedia.

[cowboyangel]

Bankers plotted to assassinate President Andrew Jackson for attempting to restore the right to print and issue money to the government. This band of evil brothers commands military powers and by inference, smaller level hit squads. See the Banco Ambrosiano scandal and murder of Vatican connected banker, Roberto Calvi in 1982 These people will use any means to gain control over state and global finance. Obama invited the cesspool foot soldiers of the financial elite high command into his administration, where they keep a watchful eye over him. Try to nationalize the banks, destroy or weaken the Fed, reign in the abuses of derivatives traders and their off shore shelters, and he will end up like Calvi too.

[Elderberry]

I feel like I'm watching episodes of "The Outer Limits" reading this thread at times.

JK

[ygmir]

I feel like I'm watching episodes of "The Outer Limits" reading this thread at times.

JK

not much different than the blind faith some put in the "new messiah" in washington.........just sayin............

hehehehe

[Elderberry]

I feel like I'm watching episodes of "The Outer Limits" reading this thread at times.

JK

not much different than the blind faith some put in the "new messiah" in washington.........just sayin............

hehehehe

really? first, i don't agree that it's blind faith and second, there is a BIG different.....IMHO.....



JK

[cowboyangel]

Last three paragraphs of Michael Hudson's scorching analysis of bubble analysis books and the crooks who run this country:


Just the last three paragraphs....


Unfortunately for us – and for reformers trying to rescue our post-Bubble economy – the history of economic thought has been suppressed to give the impression that today’s stripped-down, largely trivialized junk economics is the apex of Western social history. One would not realize from the present discussion that for the past few centuries a different canon of logic existed. Classical economists distinguished between earned income (wages and profits) and unearned income (land rent, monopoly rent and interest). The effect was to distinguish between wealth earned through capital and enterprise that reflects labor effort, and unearned wealth from appropriation of land and other natural resources, monopoly privileges (including banking and money management) and inflationary asset-price “capitalâ€

[Elderberry]

well then, it looks like the only answer is for the American working public to stop working.

JK

[can't sit still]

"Wisdom is the reward for a lifetime of listening ... when you'd have preferred to talk."
Enlightenment is what you receive after you wasted a lifetime listening to people who are idiots and shouldn't have been talking. Better to study history rather than listen to people who's internal mental maelstrom periodically emits verbal diarrhea.

[can't sit still]

This is a very good paper arguing against the advantages enjoyed by banks and corporations;
http://groups.yahoo.com/group/footnotelink/message/7 It's well worth a good read.
Dan

[**burn**]

This will make your eyes cross
http://usdebtclock.org/

[ygmir]

yikes, that made me dizzy.....er.........

[can't sit still]

Every country that had public controlled banking prospered. Every country that changed over to private banking and issuance of credit has crashed;
http://www.rense.com/general86/ending.htm
Both OZ and Canada did fine until they allowed private bankers to control things,,, then it turned to shit. Dan

[cowboyangel]

That Hitler spawned an evil empire that committed atrocities is a given. That he led Germany out of its depression in two years by placing the new currency (Feder Dollars) under state control and sidelined private banking is not that well known.

[Elderberry]

Hmmm....now you're advocating for STATE control of something??? I thought you guys wanted government to control less, not more.

JK

[littleflower]

That Hitler spawned an evil empire that committed atrocities is a given. That he led Germany out of its depression in two years by placing the new currency (Feder Dollars) under state control and sidelined private banking is not that well known.

funny, i always thought hitler solved germany's economic problems by putting the people to work ... building his war machine.

great idea, that... we use the same model ... hee

[Toolmaker]

This will make your eyes cross
http://usdebtclock.org/

Reminds me of this one

http://costofwar.com

[can't sit still]

Hitler pulled the country out of the Weimar mess and put everybody to work 2 years before he did any arming. When he became successful, it became obvious to the banking cartels that they needed to destroy him so that others wouldn't try the same plan.
Just as the US attacks any country that sells oil in any currency but the dollar, the banks attack any country that shows how profitable it is to exorcise the banks.
The more successful Hitler became, the more the bankers choked off raw materials. One of his first attacks was the Plotski oil fields.
http://www.oilcompanies.net/oil1.htm

[cowboyangel]

That's true. Hitler ascribed to Feder's ideas on currency. The state printing money is no different to what Lincoln did with government printed greenbacks to finance the Civil War. The bankers at that time wanted to charge the US 30% interest to issue money for the War.

[can't sit still]

One day, Georgie boy turned to Hank and said, Hank, how come people aren't paying for their houses? Hank replied, well George, we spent all the money. George said, well can't we just give them more money to spend? We make it for free. Hank replied, no, no, no ! You can't give the people money. That would be a very bad precedent. Better that you give it to the banks and they'll loan the money to people. We do banker magic to the money and there's 10 times as much.
George said,,,OK, you're the expert. Just do whatever it takes so that I get to the end of my term without any more problems.

Barak said to Timmy, it doesn't seem like that $ 700 billion did very much. Timmy said, well of course not. Bush just didn't know how to think big. You need to make a BIG statement. So, Barak said,, OK here's the keys to the treasury. Timmy said, we'll have things back to normal in no time.
A while later, Barak took Timmy aside and said; the people don't seem to be able to get any money from the banks. Timmy said,, well, we ran into a problem. We discovered that the banks need the money to cover bad loans.
Just give us a truck load of money and things will improve. Barak said, why don't we give the money direct to the people. Timmy said,, no you can't do that. Give it to us and we'll do banker magic and make it ten times as big.
Then Ben asked Timmy,,, where is all this money going? Timmy replied; well you remember all those default clauses on all those loans? Well ,it seems that so many loans are going bad that the bankers need to make the payments. Ben said,, you mean the bankers are making loans payments to themselves? Well, yes, of course, replied Timmy. If the loans become non-performing, the default clause kicks in.
It's cheaper for the banks to service the loan than it is to pay the default. Ben said,, are you sure?
Timmy replied,,, well of course. The default clause is leveraged so high that it would break the banks.
So, Ben asks,, what are your future plans? I mean, after all, the default rate is going to climb much higher.
Timmy replied,, well, we don't really have a plan. Fulfilling all the default obligations would cost a few hundred trillion dollars. We can't service our own loans forever. Ben said,, well I can't print you a few hundred trillion. Somebody will complain.
Then Ben and Timmy agreed; They'd do lunch tomorrow at the new Italian restaurant.

[cowboyangel]

7 Days In May, someone please...

[littleflower]

Hitler pulled the country out of the Weimar mess and put everybody to work 2 years before he did any arming. When he became successful, it became obvious to the banking cartels that they needed to destroy him so that others wouldn't try the same plan.
Just as the US attacks any country that sells oil in any currency but the dollar, the banks attack any country that shows how profitable it is to exorcise the banks.
The more successful Hitler became, the more the bankers choked off raw materials. One of his first attacks was the Plotski oil fields.
http://www.oilcompanies.net/oil1.htm

so .... it was the greedy bankers, rather than a wacko power hungry dictator, that caused world war II?

this is where you two ALWAYS lose me. you are just talking about moving power around ... and power corrupts. always has, always will. i say it's best to keep it spread around .... bankers, corporations, government, media, &c. they all have their power. give too much to the government, and things may well get worse, even much worse... and we are heading in that direction.

you both criticize the government like crazy, then advocate giving them more power ... it makes no sense....

[cowboyangel]

Hitler plus his industrial/military and other ideologue colleagues started hostilities, sure. Just remember that wasn't a one way street. Germany was kicked in the nuts and oppressed by the Allied powers after WWI. Fixing the economy by eliminating the banker middlemen, was a great idea and not original, as Lincoln tried that and it worked for the North. Government and corporations/bankers are hopelessly corrupt. At least government has some scant oversight that banking gets away with. What's wrong with eliminating the greedy, bloated, humanity hating banking industry from the money printing business? Jackson, Lincoln tried it it worked. Hitler tried it and it worked for the German people. Just because we support restoring governments right to print money, doesn't mean we support what Hitler eventually ended up doing to the world, nor does it mean that we support corruption in government. Where does one start? You gotta start somewhere, so how about simply enforcing and applying the goddamn US Constitution, which gives the government the right to issue currency?

You may think there is a right and a left, that is the lie they (Gov-media-talking head industry) tell us to keep us from recognizing the real villains- Big Banking, wall St. and their puppets in Government. We are people with diverse beliefs and opinions. It is an insult to categorize any of us as stricktly left or right. Fuck that.

Know your real enemy, and that is the leech industry of the global money controlers. They decide, eventually, everything.