tag:blogger.com,1999:blog-19580203.post8408266172104784321..comments2024-03-25T16:03:36.810-07:00Comments on The Existentialist Cowboy: Wall Street Pulls Off the Biggest Heist in World HistoryAnonymoushttp://www.blogger.com/profile/04598093941551759917noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-19580203.post-36327621133631662422009-03-09T22:34:00.000-07:002009-03-09T22:34:00.000-07:00We must do away with the Federal Reserve, until ou...We must do away with the Federal Reserve, until our country can fire them it is hopeless.<BR/><BR/>Economically they have us by the jugulars. I personally believe Obama made a pact with the devils to be elected.<BR/><BR/>Look the media was told to back Obama, it was a decided election. Why, because I firmly believe the New World Order Group had his word that he would bail this group out of their financial problem, and so he has.<BR/><BR/>I read all about Obama during the primary's I did my research. I new from his Chicago days he was the consummate pay-to-play type of politician.<BR/><BR/>From his sleazy business relations with Tony Rezko, to the Governor Blako of Ill. One already in jail and the other one not far from jail.<BR/><BR/>I won't bore all of you with the fine details but they are there if one only would look at the pay to play connections from these guys. A few really good investigative writings have been done about this. One the writers, Evelyn Pringle once googled will illuminate all the unethical dealings of Obama and the Chicago gang. Of course the our standard media would not look at this. Why because Obama being a pay to play guy was going to now play for them, for the bankers, Rockefeller's, and Wall Street. Now, he was the anointed one.<BR/><BR/><BR/>Diane BAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19580203.post-58174986810660008422009-03-09T18:24:00.000-07:002009-03-09T18:24:00.000-07:00We are so screwed, Len. The only thing we can cou...We are so screwed, Len. The only thing we can count on is a steadily declining standard of living. <BR/><BR/>The only rational thing to do is to read good books, learn to play a musical instrument and love your children and your wife as much as you can.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19580203.post-19874585901822726412009-03-08T21:40:00.000-07:002009-03-08T21:40:00.000-07:00Credit default swaps are lottery tickets. Wall St...Credit default swaps are lottery tickets. Wall Street gamblers bought about $55T of them. The Bush-Obama billionaire bailout plan is simply to let Wall Street gamblers keep the winning tickets while requiring working Americans to buy the losers at face value.<BR/><BR/>Of course, we don't have that kind of money, so we have to borrow it. From Wall Street gamblers.<BR/><BR/>Our children and grandchildren will work like dogs their entire lives to pay back to Wall Street gamblers the trillions that Bush-Obama is borrowing from Wall Street gamblers to give to Wall Street gamblers.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19580203.post-45492218224620008062009-03-08T17:23:00.000-07:002009-03-08T17:23:00.000-07:00Anonymous said... arithmetic correction: 8.6 trill...Anonymous said...<BR/><BR/><EM> arithmetic correction: 8.6 trillion divided by every woman, man & child in America=$28,667. Otherwise, point made</EM><BR/><BR/>Correction noted and made. Thanks for the heads up. <BR/><BR/>tiago said...<BR/><BR/><EM>The Corporate rip off of the American Treasury is much worse than you relate in your post. </EM> <BR/><BR/>I don't doubt that. I had hoped to make the point graphically, but ran out of digits on my calculator. <BR/><BR/>I double checked anonymous' post with google and with a larger calculator. Anonymous is correct. <BR/><BR/><EM>In all likelihood, this crisis is leading us to the privatization of the State, where activities hitherto under government jurisdiction will be transferred into private hands.</EM><BR/><BR/>At that point --a full scale revolution will be absolutely necessary. It was my belief that the government under Bush was ILLEGITIMATE. I am still withholding judgement on Obama who is a mixed bag so far. I had hoped for a dramatic and unambiguous REPUDIATION of the Bush years and, frankly, have not got it. <BR/><BR/>REVOLUTION NOW! <BR/><BR/><EM>This public debt crisis is all the more serious because the US federal government does not control monetary policy. All public debt operations go through the Federal Reserve,</EM><BR/><BR/>Indeed! <BR/><BR/> Problem Is said...<BR/><BR/><EM>You sum it up nicely.</EM> <BR/><BR/>But for the math error. <BR/><BR/><EM>Perhaps we should do what the Wall Street titans, many US Corporations and many Obama cabinet candidates do ... don't pay any taxes.</EM><BR/><BR/>If everyone stopped paying taxes immediately, it might make the point. Better, I think, would be to STOP PAYING TAXES LEGALLY. <BR/><BR/>That is done by NOT MAKING MONEY that is 'legally' money. Bartering comes to mind. I had friends who bartered back in the seventies. They often traded services for 'goods' or 'in kind' services. <BR/><BR/>If you must spend money, spend it on items that can be depreciated substantially. <BR/><BR/>INCORPORATE YOURSELF. I believe this is still possible in Delaware or Nevada. Make sure you EARN NO PERSONAL INCOME AT ALL. <BR/><BR/>Pay yourself an 'executive salary' NOT in currency but 'in kind' or other ways that cannot be assessed an income tax. <BR/><BR/>Check with your lawyer. <BR/><BR/>Barter with him. Make sure that everything you do is legal. No moral victories are won in jail. <BR/><BR/>At last --screw the system by 'cutting up your credit cards', paying cash if you cannot barter, walking instead of driving, or, on longer trips, take the public bus. <BR/><BR/>Sell your four bedroom home for what you can get for it and make do with much less. If you can live rurally, try SQUARE FOOT GARDENING. It will feed you and it is environmentally friendly and healthier. <BR/><BR/>Whatever you do --get free of the mortgage and the car payment. These things are SLOW DEATH, an economic noose.Anonymoushttps://www.blogger.com/profile/04598093941551759917noreply@blogger.comtag:blogger.com,1999:blog-19580203.post-44746710893568547032009-03-08T15:59:00.000-07:002009-03-08T15:59:00.000-07:00You sum it up nicely. Perhaps we should do what th...You sum it up nicely. Perhaps we should do what the Wall Street titans, many US Corporations and many Obama cabinet candidates do ... don't pay any taxes.<BR/><BR/>Yeah, I will take the $28k in Krugerrands, thank you.Problem Ishttps://www.blogger.com/profile/11337813524829648531noreply@blogger.comtag:blogger.com,1999:blog-19580203.post-46710761758597355462009-03-08T15:53:00.000-07:002009-03-08T15:53:00.000-07:00arithmetic correction: 8.6 trillion divided by eve...arithmetic correction: 8.6 trillion divided by every woman, man & child in America=$28,667. Otherwise, point madeAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19580203.post-23044550704396274412009-03-08T09:56:00.000-07:002009-03-08T09:56:00.000-07:00Len; If I am to believe Michel Chossudovsky, (Prof...Len; <BR/>If I am to believe Michel Chossudovsky, (Professor of economics at the University of Ottawa), The Corporate rip off of the American Treasury is much worse than you relate in your post. <BR/>This was taken from an article in Global Research.ca, dated 2 March 2009.<BR/><BR/> Meanwhile, under the Obama budget proposal, 634 billion dollars are allocated to a reserve fund to finance universal health care. At first sight, it appears to be a large amount. But it is to be spent over a ten year period, -- i.e. a modest annual commitment of 63.4 billion. <BR/> Public spending will be slashed with a view to curtailing a spiralling budget deficit. Health and education programs will not only remain heavily under funded, they will be slashed, revamped and privatized. The likely outcome is the outright privatization of public services and the sale of State assets including public infrastructure, urban services, highways, national parks, etc. Fiscal collapse leads to the privatization of the State. <BR/>. . . In all likelihood, this crisis is leading us to the privatization of the State, where activities hitherto under government jurisdiction will be transferred into private hands. <BR/> Who will be buying State assets at rock bottom prices? The financial elites, which are also the recipients of the bank bailout. <BR/>. . . . . <BR/> In a bitter irony, the recipients of the bailout under TARP and Obama's proposed 750 billion aid to financial institutions are the creditors of the federal government.<BR/>. . . . .<BR/> We are dealing with a pernicious circular relationship. When the banks pressured the Treasury to assist them in the form of a major bank rescue operation, it was understood from the outset that the banks would in turn assist the Treasury in financing the handouts of which they are the recipients. <BR/> To finance the bank bailout, the Treasury needs to run a massive budget deficit, which in turn requires a staggering increase of the US public debt. <BR/>. . . .<BR/> This public debt crisis is all the more serious because the US federal government does not control monetary policy. All public debt operations go through the Federal Reserve, which is in charge of monetary policy, acting on behalf of private financial interests. The government as such has no authority over money creation. This means that public debt operations essentially serve the interests of the banks. <BR/>. . . . . <BR/>Financial Disarmament<BR/> There are no solutions under the prevailing global financial architecture. Meaningful policies cannot be achieved without radically reforming the workings of the international banking system. <BR/> What is required is an overhaul of the monetary system including the functions and ownership of the central bank, the arrest and prosecution of those involved in financial fraud both in the financial system and in governmental agencies, the freeze of all accounts where fraudulent transfers have been deposited, the cancellation of debts resulting from fraudulent trade and/or market manipulation. <BR/> People across the land, nationally and internationally must mobilize. This struggle to democratise the financial and fiscal apparatus must be broad-based and democratic encompassing all sectors of society at all levels, in all countries. What is ultimately required is to disarm the financial establishment: <BR/>• Confiscate those assets which were obtained through fraud and financial manipulation. <BR/>• Restore the savings of households through reverse transfers <BR/>• Return the bailout money to the Treasury, freeze the activities of the hedge funds. . <BR/>• Freeze the gamut of speculative transactions including short-selling and derivative trade.<BR/>http://www.gpoaccess.gov/usbudget/fy10/pdf/fy10-newera.pdf <BR/>I hope he isn’t playing ‘chicken little’. <BR/>Chossudovsky has taught as visiting professor at academic institutions in Western Europe, Latin America and Southeast Asia, has acted as economic adviser to governments of developing countries and has worked as a consultant for international organizations including the United Nations Development Programme (UNDP), the African Development Bank, the United Nations African Institute for Economic Development and ...<BR/>BTW; An economist is a person that can tell you tomorrow why the economic forecast he predicted yesterday did not materialize today.tiagohttps://www.blogger.com/profile/00354310296446288223noreply@blogger.com