My point is that since our planetary financial system isn’t backed by anything tangible why doesn’t everyone just hit a refresh button on world debt for all nations, businesses and individuals to end this con game once and for all. Now a days it’s a given that “currency” is nothing more than computer code, zero’s and ones.
Take the Libor interest rate scam manipulating the $350 TRILLION dollars in the derivatives markets which in turn affected student loans and mortgage rates. And it’s been going on since at least 1991!!! Not one banker is rotting in jail over this with their institutions receiving slaps on the wrist with paying settlements.
Could it be because your buddy Eric Holder came out with his “collateral consequences” in 1999 because of his on again off again work for big banks including Bank of America's preferred law firm Covington and Burling? Isn’t that where LannyBreuer worked from 1989 to 1997 before landing at DOJ and relit as vice chair after he resigned from DOJ in 2013?
But they’re not alone in regards to the ever growing revolving door between world governments and the world financial system. Just last year you appointed Mary Jo White to head the SEC who came from yet another powerful law firm in the pockets of “banksters” - Debevoise & Plimpton, with clients such as AIG, Goldman Sachs, JP Morgan, and Deutsche Bank. Mary Jo also made a call to the then SEC director of enforcement Linda Chapman Thomsen about the investigation of John Mack, a potential candidate for the job of CEO at Morgan Stanley.
Unfortunately I find the firing of SEC investigator Gary Aguirre troublesome because he ratted out the SEC for not going after John Mack, former CEO and Chairman for Morgan Stanley, for insider trading. Gary was told Mack had too much “political clout” after giving GW Bush a shit load of cash for his 2004 campaign. Funny, but not in an amusing way, that Paul Berger of SEC, shortly after this mess, got a job with Mary Jo Whites law firm.
And what about Darcy Flynn saying the SEC “destroyed thousands of preliminary investigative” files on banks and was prevented from going after Deutsche Bank by Richard Walker, then the SEC director of enforcement, who left the SEC shortly thereafter to take a job with …… wait for it …… DEUTSCHE BANK!
By the way, what was up with that meeting you had with bankers behind closed doors in August of 2013? Or Fed Chair Ben Bernanke’s 84 secretmeetings with persons unknown between 1-1-2007 and 3-2008? And what’s up with all the “missing” gold that Germany, Mexico, Ecuador, Switzerland, and Poland can’t get back from the NY Federal Reserve? When Germany asked to see its 5 story below ground vault they were told there is “no room for visitors.” What makes me go “um” is that JP Morgan’s vault is just across the street and is also 5 story’s below ground.
And why would China accuse America in 2009 of manipulating and suppressing gold markets to strengthen the dollar? Or how about the story that Russia on 5-14-11 told IMF head Dominique Strauss Kahn that rogue CIA agents had informed them that there was no gold in Fort Knox, it’s gone! Maybe Harry Potter cloaked it? I find it more than suspect that when Kahn brought it up with American officials he was setup criminally just a few days later.
What I’m getting at is that it’s time for Spaceship Earth’s world leaders in government, finance and religions, come together to end this so called “free market” approach of capitalism. It’s not working for 99% of The Tribe and all of you know it. And The Tribe also KNOWS the reason nothing has been done for century’s is because you and yours enjoy being pampered privately and publicly with the funding of the 1%.
The first thing that needs to happen is to establish morally acceptable ethic’s in regards to the revolving door of finance and government officials. No one in government with oversight of particular industries should be hired or appointed to a post they previously worked in until at least five years after their departure from said industry.
Secondly, let government agencies such as the FBI and DOJ (and their counter parts in other countries) focus on criminal cases against the “too big to fail” multinational corporations. Agencies such as SEC and the IRS need to keep their collective focus on tightening revenue regulations. Monopolies need to be broken up and revenue loopholes need to be closed PLANETARY wide.
Thirdly, make fractional reserve banking illegal! At least in America the concept of a Federal Reserve was created in 1910 by just 6 men after a financial crisis. Their actions were purposely implemented to increase profits for banks so they could print their fake money, and signed off on by President Wilson. To quote economist Martin Wolf:
“Printing counterfeit banknotes is illegal, but creating private money is not. The interdependence between the state and the businesses that can do this is the source of much of the instability of our economies. It could – and should – be terminated.” And this:
“What is to be done? A minimum response would leave this industry largely as it is but both tighten regulation and insist that a bigger proportion of the balance sheet be financed with equity or credibly loss-absorbing debt. I discussed this approach last week. Higher capital is the recommendation made by Anat Admati of Stanford and Martin Hellwig of the Max Planck Institute in The Bankers’ New Clothes.”
“A maximum response would be to give the state a monopoly on money creation. One of the most important such proposals was in the Chicago Plan, advanced in the 1930s by, among others, a great economist, Irving Fisher. Its core was the requirement for 100 per cent reserves against deposits. Fisher argued that this would greatly reduce business cycles, end bank runs and drastically reduce public debt. A 2012 study by International Monetary Fund staff suggests this plan could work well. “
In closing, “the beast of muddy brain” are sick and tired of being treated like chattel and have awakened to the fact that life on Spaceship Earth wasn’t meant to be lived this way. All members of The Tribe are throwing off their individual and collective yokes and shackles in regards to income inequality. We all believed in your word energies of “Hope and Change you can Believe in” campaign motto. Now its time your actions speak as loud as your words.
With all due respect,
Cc: Janet Yellen, Jim Yong Kim, Christine Lagarde, Robert Reich, Jeffery Sachs, Pope Francis, Dalai Lama