Ian Fraser’s introduction: Paul Moore, the ‘HBOS whistleblower’, has launched a new organisation, the New Wilberforce Alliance, which aims to free the world from the modern-day slavery caused by the financialisation of our culture that took root in the 1980s. Here, Moore explains how the recent revelations of rampant immorality and criminality in the banking and financial sector are galvanising change
http://www.ianfraser.org/emancipate-yourselves-from-financial-slavery-none-but-ourselves-can-free-our-minds/
Visar inlägg med etikett Bailouts. Visa alla inlägg
Visar inlägg med etikett Bailouts. Visa alla inlägg
lördag 11 augusti 2012
söndag 29 juli 2012
Max Keiser: fictitious capital with Michael Hudson
In this edition of the show Max interviews Michael Hudson from Michael-Hudson.com. He talks about the fictitious capital; what it is? And who is pushing it? Michael Hudson is President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City and author of Super-Imperialism: The Economic Strategy of American Empire (1968 & 2003), Trade, Development and Foreign Debt (1992 & 2009) and of The Myth of Aid (1971).
http://www.youtube.com/watch?v=SRzJ8rMP-WY&feature=player_embedded
http://www.youtube.com/watch?v=SRzJ8rMP-WY&feature=player_embedded
torsdag 26 juli 2012
the last chance for the justice system – the only thing which stands between criminals on Wall Street and pitchforks
Mainstream economist Nouriel Roubini said
recently:
Former British prime minister Tony Blair – currently employed as a senior adviser to JP Morgan – said today:
Where’s all of this coming from?
The American government’s top official in charge of the bank bailouts writes:
Economics professor Randall Wray writes today:
Economics professor Michael Hudson agrees … saying that the banks are trying to make us all serfs.
Top economists say that fraud caused the Great Depression and the current financial crisis, and that the economy will never recover until fraud is prosecuted.
Leading experts say that fraud is not only widespread, it is actually the business model adopted by the giant banks. See this, this, this, this, this and this.
Indeed, the big banks – with the help of the government – have basically become criminal enterprises. And yet the Bush and Obama administrations have made it official policy not to prosecute fraud.
Economics professor Steve Keen says:
Nobel economist Joseph Stiglitz said in 2009 that Geithner’s toxic asset plan “amounts to robbery of the American people”.
That’s why people are so mad at bankers.
I noted 7 years ago:
The fact that even Tony Blair and Nouriel Roubini are talking about hanging bankers shows that this is the last chance for the justice system – the only thing which stands between criminals on Wall Street and pitchforks – to work.
http://www.zerohedge.com/contributed/2012-07-24/tony-blair-don%E2%80%99t-hang-bankers
Nobody has gone to jail since the financial crisis. The banks, they do things that are illegal and at best they slap on them a fine. If some people end up in jail, maybe that will teach a lesson to somebody. Or somebody hanging in the streets.
Former British prime minister Tony Blair – currently employed as a senior adviser to JP Morgan – said today:
We must not start thinking that society will be better off “if we hang 20 bankers at the end of the street” .
Where’s all of this coming from?
The American government’s top official in charge of the bank bailouts writes:
Americans should lose faith in their government. They should deplore the captured politicians and regulators who distributed tax dollars to the banks without insisting that they be accountable. The American people should be revolted by a financial system that rewards failure and protects those who drove it to the point of collapse and will undoubtedly do so again.
Only with this appropriate and justified rage can we hope for the type of reform that will one day break our system free from the corrupting grasp of the megabanks.
Economics professor Randall Wray writes today:
Thieves … took over the whole economy and the political system lock, stock, and barrel. They didn’t just blow up finance, they oversaw the swiftest transfer of wealth to the very top the world has ever seen. They screwed workers out of their jobs, they screwed homeowners out of their houses, they screwed retirees out of their pensions, and they screwed municipalities out of their revenues and assets.
Financiers are forcing schools, parks, pools, fire departments, senior citizen centers, and libraries to shut down. They are forcing national governments to auction off their cultural heritage to the highest bidder. Everything must go in firesales at prices rigged by twenty-something traders at the biggest and most corrupt institutions the world has ever known.
***
I see two scenarios playing out. In the first, we allow Wall Street to carry on its merry way, as the foreclosure crisis continues and Wall Street steals all homes, packaging them into bundles to be sold for pennies on the dollar to hedge funds. All wealth will be redistributed to the top 1% who will become modern day feudal lords with the other 99% living at their pleasure on huge feudal estates.
***
That is the default scenario—the outcome that will emerge in the absence of action.
In the second, the 99% occupy, shut down, and obliterate Wall Street.
Economics professor Michael Hudson agrees … saying that the banks are trying to make us all serfs.
Top economists say that fraud caused the Great Depression and the current financial crisis, and that the economy will never recover until fraud is prosecuted.
Leading experts say that fraud is not only widespread, it is actually the business model adopted by the giant banks. See this, this, this, this, this and this.
Indeed, the big banks – with the help of the government – have basically become criminal enterprises. And yet the Bush and Obama administrations have made it official policy not to prosecute fraud.
Economics professor Steve Keen says:
“This is the biggest transfer of wealth in history”, as the giant banks have handed their toxic debts from fraudulent activities to the countries and their people.
Nobel economist Joseph Stiglitz said in 2009 that Geithner’s toxic asset plan “amounts to robbery of the American people”.
That’s why people are so mad at bankers.
I noted 7 years ago:
I am NOT calling for the overthrow of the government. In fact, I am calling for the reinstatement of our government. I am calling for an end to lawless dictatorship and a return to the rule of law. Rather than trying to subvert the constitution, I am calling for its enforcement.
***
The best way to avoid all types of revolution would be for the government to start following the rule of law. I passionately hope it will do so.
The fact that even Tony Blair and Nouriel Roubini are talking about hanging bankers shows that this is the last chance for the justice system – the only thing which stands between criminals on Wall Street and pitchforks – to work.
http://www.zerohedge.com/contributed/2012-07-24/tony-blair-don%E2%80%99t-hang-bankers
onsdag 25 juli 2012
Apollyon Rising 2012
In his 1913 book The New Freedom, President Woodrow Wilson (1913 to 1921) stated:
"Since I entered politics, I have chiefly had men´s views confided to me privately. Some of the biggest men in the United States, in the field of commerce and manufacture, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they had better not speak above their breath when they speak in condemnation of it."
Dr. Thomas Woodrow Wilson (28 December 1856 -- 3 February 1924)
http://www.youtube.com/watch?v=uyQGy12FU5c&feature=related
"Since I entered politics, I have chiefly had men´s views confided to me privately. Some of the biggest men in the United States, in the field of commerce and manufacture, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they had better not speak above their breath when they speak in condemnation of it."
Dr. Thomas Woodrow Wilson (28 December 1856 -- 3 February 1924)
http://www.youtube.com/watch?v=uyQGy12FU5c&feature=related
tisdag 24 juli 2012
ALL AMERICANS WILL RECEIVE A MICROCHIP IMPLANT IN 2013 PER OBAMACARE
A major news story broke on AOL
and countless other mainstream news media outlets, this past week, that the
Obama Health Care Bill will require all U.S. citizens and babies to receive a
microchip or Medchip by March 23, 2013. Whether or not the microchip requirement
in the bill is implemented by 2013, remains to be seen.
In 2010, my
book “Are You Ready for the Microchip?” was released, and I asked the question,
“Is the microchip implant hidden in the Healthcare Bill? Are newborn children
starting in 2013 going to receive a microchip shortly after birth?” Then in the
book, I wrote, “ In the massive US HEALTHCARE BILL, which your elected
representatives voted for without reading, there is a section titled: Subtitle
C-11 Sec. 2521 – National Medical Device Registry which states:
“The
Secretary shall establish a national medical device registry (in this subsection
referred to as the ‘registry’) to facilitate analysis of postmarket safety and
outcomes data on each device that—‘‘(A) is or has been used in or on a patient;
and ‘‘(B) is a class III device; or ‘‘(ii) a class II device that is
implantable.”
tisdag 17 juli 2012
Derivatives Should Be Banned From Financial Markets
The next time some derivatives proponent says that derivatives reduce risk, increase transparency, and are well hedged, stop them in their tracks and ask if they believe in tooth fairies, Easter bunnies and leprechauns. Actually, it's safer betting on the leprechauns than in the soundness of modern derivatives finance. Since markets seem not to have learned from past disasters, one should expect worse to come.
http://www.usnews.com/opinion/blogs/economic-intelligence/2012/07/16/derivatives-should-be-banned-from-financial-markets?s_cid=rss:economic-intelligence:derivatives-should-be-banned-from-financial-markets&utm_source=twitterfeed&utm_medium=twitter
http://www.usnews.com/opinion/blogs/economic-intelligence/2012/07/16/derivatives-should-be-banned-from-financial-markets?s_cid=rss:economic-intelligence:derivatives-should-be-banned-from-financial-markets&utm_source=twitterfeed&utm_medium=twitter
fredag 13 juli 2012
CrossTalk: Libor or Lie-more?
What will be the implications of the Libor scandal? Will anybody get into prison for the wrongdoing? What message does it send to the authorities? Should there be more regulation, or can banks regulate themselves? CrossTalking with Richard Wellings and William Black.
http://www.youtube.com/watch?v=2qxz4jQC_GM&feature=player_embedded#!
http://www.youtube.com/watch?v=2qxz4jQC_GM&feature=player_embedded#!
Bill Black: Our System is So Flawed That Fraud is Mathematically Guaranteed
Bill Black is a former bank regulator who played a central role in prosecuting the corruption responsible for the S&L crisis of the late 1980s. He is one of America's top experts on financial fraud. And he laments that the US has descended into a type of crony capitalism that makes continued fraud a virtual certainty - while increasingly neutering the safeguards intended to prevent and punish such abuse.
In this extensive interview, Bill explains why financial fraud is the most damaging type of fraud and also the hardest to prosecute. He also details how, through crony capitalism, it has become much more prevalent in our markets and political system.
A warning: there's much revealed in this interview to make your blood boil. For example: the Office of Threat Supervision. In the aftermath of the S&L crisis, this office brought 3,000 administration enforcements actions (a.k.a. lawsuits) against identified perpetrators. In a number of cases, they clawed back the funds and profits that the convicted parties had fraudulently obtained.
Flash forward to the 2008 credit crisis, in which just the related household sector losses alone were over 70x greater than those seen during the entire S&L debacle. So how many criminal referrals did the same agency, the Office of Threat Supervision, make?
http://www.youtube.com/watch?v=i9JfmzUtlWM
In this extensive interview, Bill explains why financial fraud is the most damaging type of fraud and also the hardest to prosecute. He also details how, through crony capitalism, it has become much more prevalent in our markets and political system.
A warning: there's much revealed in this interview to make your blood boil. For example: the Office of Threat Supervision. In the aftermath of the S&L crisis, this office brought 3,000 administration enforcements actions (a.k.a. lawsuits) against identified perpetrators. In a number of cases, they clawed back the funds and profits that the convicted parties had fraudulently obtained.
Flash forward to the 2008 credit crisis, in which just the related household sector losses alone were over 70x greater than those seen during the entire S&L debacle. So how many criminal referrals did the same agency, the Office of Threat Supervision, make?
http://www.youtube.com/watch?v=i9JfmzUtlWM
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