What should have happened in 2008? A massive reset, economically, socially and morally that was a necessity... and it is still yet to happen. Tough to chew, I know, but nutritious in truth none-the-less. Detroit was a melanoma that America ignored. It's government and its society just kept proverbially sun-baking, whilst continuing to admire their tan and flexing their financial muscles in the economic mirror. Meanwhile, they're rotting from the inside.
You need to think of America's monetary policies as AIDS. If you continue to medicate, the patient can keep infecting others (indebting the future generations without their permission). Or, you stop medicating it...and it dies. Will it be painful? Yes. But necessary to safeguard the health of everyone else who protected themselves with safe monetary policies.
America is greedy for power and wealth, like a newly well-hung boy is hungry for sex. You don't care if it's safe but as long as it feels good, who cares! Now, you've been diagnosed with AIDS (financial collapse) and you want free medication so you can keep financially fu*king everyone?
But alas, no. The USA and the EU would rather infect the entire world with financial AIDS, so they don't look so sick in comparison. That kind of thinking is more 'whacked out' than a 14 yr old pregnant crackhead from Detroit.
Well, Iceland seems to be doing just fine after telling predators to "fu*k off, we don't need bailouts!" They jailed the bankers! Righteous! See the links:
- "Iceland Jailed Bankers and Rejected Austerity—and It’s Been a Success" http://www.commondreams.org/views/2015/06/12/iceland-jailed-bankers-and-rejected-austerity-and-its-been-success
"Instead of imposing devastating austerity measures and bailing out its banks, Iceland let its banks go bust and focused on social welfare policies. It has now repaid 85 percent of U.K. claims, and the Icelandic finance minister announced recently that all will be settled by the end of the year."
- "Iceland put bankers in jail rather than bailing them out — and it worked" http://www.vox.com/2015/6/9/8751267/iceland-capital-controls
"Iceland's prime minister, Sigmundur Gunnlaugsson, announced a plan that will essentially close the books on his country's approach to handling the financial crisis — an approach that deviated greatly from the preferences of global financial elites and succeeded quite well. Instead of embracing the orthodoxy of bank bailouts, austerity, and low inflation, Iceland did just the opposite. And even though its economy was hammered by the banking crisis perhaps harder than any other in the world, its labor didn't deteriorate all that much, and it had a great recovery."
Who are these governments that decided to bail out the banks? Are these the same governments that by not supervising the financial system led millions to unemployment, to the loss of their houses and their lives? Are these the same governments that imposed a draconian measures in dozens of countries in order to bailout the banking system? Are these the same governments we elected to protect us? I am not sure about protecting us, but sure that they are protecting those who supply money for their lavish style of living.
Those who don't know the past (history) can't see what is happening in the present and are not able to create the future. What do you expect from monkeys in suits? Monkey business! Not only do they run things to the ground, get a bail out on the backs of the tax payer, but paid themselves huge bonuses and expense packages. The bailouts and carrying on with the same system is like putting a plaster on an infected wound. What really we need is to amputate the limb. Let's just face it - humanity has no idea how to handle money or the power associated with it, and I personally doubt that we ever will.
“This institution (the privately owned central bank) is one of the most deadly hostility against the principles of our Constitution… suppose a series of emergencies should occur… an institution like this… in a critical moment might overthrow the government.”
~ President Thomas Jefferson, 1803
Needless to say, many of the governments, including the US, have since been overthrown.
Cyclical economics are not natural; they are contrived.
“The depression was the calculated 'shearing' of the public by the World Money powers, triggered by the planned sudden shortage of supply of call money in the New York money market. The One World Government leaders and their ever close bankers have now acquired full control of the money and credit machinery of the U.S. via the creation of the privately owned Federal Reserve Bank.”
~ “Franklin Roosevelt, My Exploited Father-in-Law,” Curtis Dall, 1968
There's really only one cause behind the Great Financial Crisis, and that's excess liquidity. Everything else comes after, or because of that. The low interest rates set by Western central banks encourages all sorts of reckless behavior. The only times benchmark interests should be low is when you're buttressing against deflation (during bad economic times). Maintaining low interest rates during periods of booms will understandably lead to nonessential investments as all that excess liquidity (money) has to go somewhere and additionally, it also weakens the effect of low interest rates in aiding recovery following the succeeding crash.
Money, or even barter, a market place, personal gain, all these things aim to secure a personal surplus. So, I'm no socialist, but this current market mentality is poisonous... I think we need to re-adjust our attitude of value, we seem to value things over people. Black Friday shopping comes to mind, and the attitude that vast wealth makes one better than another, or entitles the holder of that wealth to make the decisions affecting the rest because somehow we are not capable of clear rational thought or decision making, when really all they want to do is protect the interests that give them that vast wealth, so it's not the system really, it's the perceptions that need to be addressed. If you take money out of politics, I feel that a lot of this shit would be fixed. In 2012, Obama and Romney collectively spent 2 billion on campaigning to get a job that pays $500K a year, if that doesn't scream that the system is rigged I don't know what does. But who do you vote for when both parties are controlled by the same corrupt entity - The Elite...
What we have in the USA is not really capitalism. It is more like corporatism. The big financial institutions own the government.
It's sick. Money always prevails in a monetary economic system. And all those high donors are going to get the most attention from the elected officials. That's the spooky part. Same with the people in general. They can be manipulated by non-contribution funds from the same rich contributors as they do their own SUPER PAC to do their own advertising that influence the masses. That's how politicians are bought. The top 1% being able to buy politicians is insanely unfair. In a free market monetary system your opinion on anything will never be more valuable than a fat paycheck to any politician.
Us against them. Not left against right. Politicians love that we divide behind them, and confront each other... in their name. It should be the people vs the Government. Instead we allow them to lead us into frivolous red herring arguments about benign social issues. A large part of politics is the control and allocation of communal resources.
A vicious cycle to exhaust and ultimately destroy humanity. It is not the only option. Humanity is tired, and we need to look outside the box we are all conditioned into, and enslaved in, including those who might be at the top of the "food chain" who "benefit" the most, all, by design, even if they think they are free and the "winners," and entitled "elite." We must start opening the conversation for new possibilities (possibility= an unprecedented future). Maybe we don't have "The" perfect alternative yet, but the conversation for possibility has begun, and it is gaining momentum... or else! I speak sincerely, not argumentatively. We must all come together. We will find a way, or many ways, though sadly, some might not get the chance to benefit, but life goes forward, and hopefully community and compassion will prevail, once again. In time, money will be a thing of the past, and so will dis-empowerment and control of Humanity, lessening the suffering dramatically. IMHO and profound hope... for All of We, The People and living beings, and Life.
- Beverly Oats:"The Bible talks about Judah grinding the faces of the poor. The scriptures says it this way. What do you mean to grind the faces of the poor Judah? Judah can charge interest to the Gentiles, but not to his own people. A good deal of people are of the tribe of Judah, but goes unrecognized by Judah himself. I say shame to Judah for those of us who do study the Bible and know it well. There were twelve tribes of Israel and our Creator scattered them abroad out of the middle east. Some of those people recognize who they really are. Judah, you are grinding the faces of the poor, just as the scriptures say. Judah after seven years are suppose to grant debt forgiveness. Only when our Father in heaven returns can anything be done about all of this mess in this world."
- Paul Johnston+Beverly Oats:"Way to take biblical quotes out of context. You omitted the preceding text:The LORD enters into judgment with the elders and princes of His people, "It is you who have devoured the vineyard; The plunder of the poor is in your houses". God's "people" in verse 15 is typically the descendants of Abraham (Jews). Taking verse 14 into consideration means that it was the wealthy and powerful who were taking advantage of the poor and meek Jews and Gentiles alike (and it's the meek who shall inherit the earth, in the end, according to Jesus, aka Yeshua).
For those who take the time to actually read the Bible there's plenty of sound financial advice, especially in the book of Proverbs. And there's even more to be said in the Bible on the perils of corruption."
- Daniel H:"The Bible isn't the best textbook for corporate finance...or anything else for that matter. In this case I recommend a corporate finance textbook."
- Poppadop1:"Jesus said unto him, 'Thou shalt love the Lord thy God with all thy heart, and with all thy soul, and with all thy mind. This is the first and great commandment. And the second is like unto it, Thou shalt love thy neighbor as thyself.'"
~ Matthew 22:37-39
Perhaps leaving that mentality out of "corporate finance" is why these economic crashes keep happening in the first place...
“Whoever controls the volume of money in any country is absolute master of all industry and commerce... And when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate.”
~ President James Garfield, 1881; 2nd assassinated president
- ken thomas:"History should have taught people that they cannot allow a wealthy class to exist. In politics, as in economics, et al, those who have wealth will use it to enslave those who do not have it. Like it or not, it is a dog eat dog eat dog world. Those who cling to fuzzy, sentimental notions about the brotherhood of man will always be dominated by those who don't."
- Rob Mews:"That's it . A Eureka moment !! - We will enforce liberty on others ! That will be fair and make them 'Free' !! Then that new 'Freedom' can be Nationalized and Rationed and enforced even more strictly so everyone gets an equal share !"
- Mark Pope :"I can honestly say I hate these greedy bastards. Obama plays golf with them."
- Poppadop1:"[The founders] Lockean social-contract political philosophy taught them that the preservation of individual liberty was the goal of politics. Its basis was the surrender of a portion of man’s original, natural freedom to a government that would protect the large remainder of it better than any individual could do on his own — the freedom to make your own fate and think your own thoughts without fear of bodily harm, unjust imprisonment, or robbery.”
~ “The Americanism of the American Revolution,” “City Journal,” Myron Magnet, Autumn 2012
The majority will always be sheep. Those in charge can either be sheepdogs that protect the sheep or wolves that prey on the sheep. Take your pick." /watch?v=MWnp28QkdfI#t=3m07s
- ken thomas:"Yes, good comment. Plato, in the Republic, taught that we should give our selves up to the ruling class. He 'assumed' that, being of noble birth, they would rule fairly, justly."
- Rob Mews:"I like that - perhaps we should have no rights at all. That would be the ultimate of the political idealist's goals. To give ourselves entirely to politicians in a political Nirvana. What a fulfilling life - think not !!"
- Poppadop1:"Not sure if you noticed, but the banker gangsters and other criminals don't care what you think.
"The rich will strive to establish their dominion and enslave the rest. They always did... they always will. They will have the same effect here as elsewhere, if we do not, by the power of government, keep them in their proper spheres."
~ Gouverneur Morris, one of the primary authors of the US Constitution, 1787
- Brad Raiche:"Actually, the banker gangsters and other criminals DO care about what I think, which is precisely why they strive to control the messaging to the public through mainstream media. Do not think for a second that they do not care; they care deeply. Their biggest fear is that enough people will wake up and refuse to continue playing along with the rigged system.
Trust me, I understand very well how those with vast resources, not merely the "rich," always have and always will "strive to establish their dominion and enslave the rest." But where your logic fails is in the fallacy that "by the power of government, 'we' (whoever THAT is!) can keep them (whoever THEY are) in their proper spheres (whatever EXACTLY "proper" means)."
Our founders also understood well that power corrupts and absolute power corrupts absolutely. They knew, as modern Classical Liberals know, that the government that governs least governs best. The overriding function of government, particularly as set out by our founders, is to protect Individual Rights - not to be the provider of everything under the sun.
If you want to get money out of politics, if you want to get those dirty rich folks out of your life, if you want to make sure that no one politically powerful group can dominate over others, then you don't give power to government in the first place.
*SO LONG AS GOVERNMENT HAS POWER, THERE WILL BE THOSE WHO PAY TO ACCESS AND EXPLOIT THAT POWER.* Our founders knew that, which is why they gave us a REPUBLIC and NOT A DEMOCRACY ...if we can keep it ...which we have not because there have been too many individuals willing to usurp the Constitution for political and personal gain.
To agitate for more government in order to control government is about as foolish as it comes. You interpret the words of Governor Morris as meaning to suggest that the best form of government is one driven not by fairness and reason by but political brute force, so expecting any outcome other than a corrupt one is pure folly. Even as a Federalist who believed that the United States should be a single state rather than a group of individual states united, Governor Morris understood well that government power is to be LIMITED! Using his words to support a claim that government needs even more power in order to curb the power that it already has is an incredibly dangerous notion, yet, because it "just makes sense" to the average person, here we are with a system of corruption by both parties that work as two wings of a single party: government.
Before falling into the trap of criticizing the so-called rich, stop and think about the fact that the only way those with vast resources can satisfy their drive to enslave the rest of us is if they can get control of the reigns of government so they can have made legislation that legitimizes their illegitimate behavior.
As an American, you should, just as all our founders, have a healthy distrust of government. Do not let yourself be mislead: the more power government has, the more corruption that WILL OCCUR without exception. The way to fix corruption is to remove the power source. Government's primary function is to protect Individual Rights, not merely those of the rich or those of the majority. We are a REPUBLIC, not a democracy and not a plutocracy."
- Poppadop1:“Do not think for a second that they do not care; they care deeply.”
Sorry, I should have been more specific. I meant they don’t care about your notions of “leave us to our own faculties.”
“...if you want to make sure that no one politically powerful group can dominate over others, then you don't give power to government in the first place.”
You do realize the banksters have options of exerting force outside of a country’s government, right? Other countries’ governments, private military contractors, mercenaries, street thugs, terrorists, assassins: If a government is not powerful enough to resist corruption militarily, it will get corrupted and “small government” flies out the window anyway.
“Thus it may be known that the leader of armies is the arbiter of the people's fate, the man on whom it depends whether the nation shall be in peace or in peril.”
~ Sun Tzu’s “The Art of War”
And before you mention private citizen militias, this may have worked hundreds of years ago, yet they will not work in modern mechanized warfare. Will there be tanks and drones on Kickstarter? What happens when plutocrats start buying out these militias? What keeps the militias from collapsing due to poor logistics and support or reverting into gangsters for capitalism themselves?
“...the more power government has, the more corruption that WILL OCCUR without exception.”
The problem is not too much power; it’s too little virtue. A virtuous government would use the minimum amount of power it takes to counter virulent forces and protect the people’s commonwealth because its members believe that’s the right thing to do.
"Statesmen, my dear Sir, may plan and speculate for Liberty, but it is Religion and Morality alone, which can establish the Principles upon which Freedom can securely stand. The only foundation of a free Constitution is pure Virtue, and if this cannot be inspired into our People in a greater Measure than they have it now, They may change their Rulers and the forms of Government, but they will not obtain a lasting Liberty. They will only exchange Tyrants and Tyrannies."
~ President John Adams, 1776"
“Abuse of words has been the great instrument of sophistry and chicanery, of party, faction, and division of society.”
~ President John Adams, 1819
What I find particularly scary is the 2010 US Supreme Court opinion in Citizens United v. Federal Election Committee, which allows unlimited corporate spending on political contributions as "free speech" and probably assures that meaningful campaign reform shall never occur. Fascinating documents!
Somebody said:"If you took the money out of politics there would be nothing left...." I would say TAKE LOBBYISTS OUT OF POLITICS because LOBBYING = LEGALIZED CORRUPTION! No position for lobbyists means any private firm has to succeed or fail based upon their own efforts. After all, with lobbying out of politics, there's no one to bribe and have regulations that make competition near impossible whilst protecting so called private business.
Uphold the constitution and the bill of rights by protecting individual rights. That it, nothing else.
The fortunate thing is that smart people don't continue to do the same as they did in the past. They look for improvement in what they did to fit the changes around them. There should be no more of Malthusianism. (Malthusianism is a belief in the future based solely on the present which takes no changes into account and accounts for no learning from the past to make improvement".
Watch the documentary “Will Work for Free” if you haven’t already. That kind of future would be here already if it weren’t for you-know-who.
“From the moment when the machine first made its appearance it was clear to all thinking people that the need for human drudgery, and therefore to a great extent for human inequality, had disappeared... Even if it was still necessary for human beings to do different kinds of work, it was no longer necessary for them to live at different social or economic levels. Therefore, from the point of view of the new groups who were on the point of seizing power, human equality was no longer an ideal to be striven after, but a danger to be averted... The earthly paradise had been discredited at exactly the moment when it became realizable.”
~ “1984,” George Orwell
It seems we’re steadily progressing in the Orwellian direction. Orwell saw an omniscient surveillance state: That’s shaping up nicely: http://rt.com/news/156660-snowden-everyone-under-surveillance/
Orwell saw perpetual war: The War on Communism hit a snag, but the War on Terror is filling in okay.
Orwell saw waste, fraud, and abuse to keep the people dumb and desperate in spite of technological advances: Check and check.
- ken thomas:"This society is already Orwellian in its nature. Incredible. Orwell was right. Power wants to dominate simply for its own sake. The beast can never be fed enough. Humvees, tanks and AK-47s for police dressed like Darth Vader: Are we supposed to believe that's for our protection? And what do you suggest? "When the people fear their government, there is tyranny; when the government fears the people, there is liberty. "
Thomas Jefferson. "
- Brad Raiche:"Of course the militarization of police is for our protection ...just like having our privacy violated in order to keep us free ...just like saddling my kids with trillions in debt to go to war was to make us safe. Or as doublespeak says, "War is peace. Freedom is slavery. Ignorance is strength."
You, +ken thomas also have your head screwed on correctly and are aware of the realities of today. Both of you, like me, must be enjoying the entertainment that comes with watching what seems to be a transformation (or possible transformation) of politics in America. I love watching the Bill O'Reillys and Ed Schultzes dig their own graves as they defend authoritarianism and big government. This is an exciting time with real hope that things will change ...for the better.
The only way society will change, the only way government will change is when enough individuals say "ENOUGH IS ENOUGH, WE WANT OUR FREEDOM BACK" ...and that is happening increasingly.
Orwell's protagonist Winston Smith most hoped for an eventual uprising by the proles. Unlike Orwell's allusion to an unwillingness or inability of the proletariat (proles) to organize politically, however, today there is the Internet, and already it has revolutionized the sharing of ideas ...just as we are doing here.
Ideas still matter. Liberty and Natural Rights still matter. Continue challenging bad ideas driven by fear and hate. Spread the message of Liberty, Love and Hope. Power to the informed.
The solution is already known: LIMITED GOVERNMENT.
Government with no ability to control every aspect of individuals' lives is a government that no rich person or any one will agitate to get control over. Cronyism is possible only when government has power to exploit. That is why seeking to use government to control government is about as stupid as it gets.
- Poppadop1:"It's not a good idea to give a group of people the power to use violence in your benefit."
“No government can be maintained without the principle of fear as well as of duty. Good men will obey the last, but bad ones the former only.”
~ President Thomas Jefferson, 1814
As Jefferson pointed out, bad people only respond to fear and violence; that's part of what makes them bad. Do you think the plutocrats and war racketeers are afraid right now? Are you personally going to make them afraid, or are you hoping someone else will do that for you?
+Brad Raiche "That is why seeking to use government to control government is about as stupid as it gets."
Take a closer look at the more lawless sections of Mexico, Ukraine’s plutocrat-funded “volunteer battalions,” or the “Islamic State:” How are these criminal syndicates any different from a criminal government? And how can a crime syndicate, cartel, gang, etc. be effectively stopped by anything but a virtuous government with the power to do it?
"Power never takes a back step — only in the face of more power."
~ Malcolm X
Simply limiting the government is not enough, as evidenced by the US's once "limited government" and its hostile takeover by the banking cartel. Government still needs to have the power to fight corruption while having the virtue to use that power morally.
“A general dissolution of principles and manners will more surely overthrow the liberties of America than the whole force of the common enemy. While the people are virtuous they cannot be subdued; but when once they lose their virtue then will be ready to surrender their liberties to the first external or internal invader.”
~ Samuel Adams, 1779
But the politicians just can't keep their dirty hands off let alone run the county's finance in a accountable way. That’s probably because politicians are not really running the finances.
“The treasury, lacking confidence in the country, delivered itself bound hand and foot to bold and bankrupt adventurers and bankers pretending to have money, whom it could have crushed at any moment… These jugglers were at the feet of government. For it was not, any confidence in their frothy bubbles, but the lack of all other money, which induced… people to take their paper… We are now without any common measure of value of property, and private fortunes are up or down at the will of the worst of our citizens.”
~ President Thomas Jefferson, 1815; one year after the 2nd Bank of the US was chartered and two years after the War of 1812 ended
“Whoever controls the volume of money in any country is absolute master of all industry and commerce... And when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate.”
~ President James Garfield, 1881; 2nd assassinated president
Watch “All Wars Are Bankers’ Wars” if you have not already.
View this VIDEO to understand: "Global Financial Meltdown - One Of The Best Financial Crisis Documentary Films"
Meltdown is a four-part investigation into a world of greed and recklessness that brought down the financial world. The show begins with the 2008 crash that pushed 30 million people into unemployment, brought countries to the edge of insolvency and turned the clock back to 1929.
But how did it all go so wrong? Lack of government regulation; easy lending in the US housing market meant anyone could qualify for a home loan with no government regulations in place. Also, London was competing with New York as the banking capital of the world. Gordon Brown, the British finance minister at the time, introduced "light touch regulation" - giving bankers a free hand in the marketplace.
Meltdown moves on to examine the epidemic of fear that caused the world's banks to stop lending and how the people began their fight back. Finally, it asks how the world can prepare for the next crisis even as it recognizes that this one is far from over.
We hear about the sheikh who says the crash never happened; a Wall Street king charged with fraud; a congresswoman who wants to jail the bankers; and the world leaders who want a re-think of capitalism.
- Zoran Filipovic:"Nice documentary to get a general idea how it all went down. But while watching this, you need to have one thing in mind. NO ONE was surprised by this 'sudden' meltdown (except the regular people). It didn't take the banksters by surprise.. it was all well planned and projected. They did it on purpose, just like the big wall street stock market fail in the 1900's and so on. There is so many examples through history..basically every bigger financial crisis in the world. Keep in mind if you follow the money trail, you get to understand that absolutely EVERY bank in the world (no matter the country) is in the same hands. That goes for central banks of every country as well, except for North Korea, Cuba (?!) and probably Iran. So it's all well planned, and result is always the same.. ITS ALL JUST A SHOW. And we are all just the unfortunate spectators.. System is flawed on purpose." 18 Likes
- ERIKA AHLSTRÖM :"Every voter should take notice that there is no candidate out there who will address the banks counterfeiting money, and the illegality of the income tax for most Americans, and the lack of investigation of 9/11. Did I mention that banks counterfeit money or that the truth about 9/11 will end the wars in the middle east? Not Rand Paul, Not Bernie Sanders. Most of the Congress are neutered because they are being controlled with $. But how many Americans fully understand the core problems? How many Americans are sitting at home watching television taking sides between Jeb Bush and Hillary Clinton who are obviously working for the complete and plenary corporate takeover? How many Americans get ALL their information from television and proceed to vote? Those that actually know or are motivated to know are but a minority. I am going to ride my new pink carbon fix bike. I like the color pink. You guys bore me. Look what you need to understand that is that commercial banks are criminal syndicates. They deal in Counterfeit money. Today our economy runs on electronic money. But electronic money is not legal tender yet it accounts for more than 90 percent of the economy. So margin investment is really just dealing with economics of counterfeit. All of the economy and court cases is just trying to safeguard the counterfeiting elements. This is not going to change because people don't read. people complain about banks and abuses but they turn around and vote for the people that are financed by the very people that abuse them. America is in full tard mode. Okay enough am going to go ride my bicycle."
- JruHoliday:"Yeah, but who do you vote for when both parties are controlled by the same corrupt entity - The Elite. Who elects the heads of finance? ... exactly?"
- Helder Costa:"Not trying to defend Capitalism, I think it went the same way with Communism... A bit less GDP might not be such a bad thing - for the environment and for us. By any metric we're not happier with more 'stuff'. Indeed depression and obesity/lifestyle 'diseases' is/are on the rise."
- Vesta:"Socialism is by far the best model!"
- Chris Duane:"But what we have in the USA is not really capitalism. It is more like corporatism. The big financial institutions own the government. All we did was kick the can down the road, another crash which will be bigger is on its way.."
- Bman Chu:"That is the ultimate result of capitalism - corporatism. Money = power."
- MCJ6:"Price fixing and central financial planning by government -sponsored central banks is capitalism? Who knew? The western financial system/way of life was saved by something that cost as much as 1 year of military spending!"
- Helder Costa:"Precisely...and we need to detach ourselves from it... we need to push in the right direction though, not everything is lost, though we are not able to fight corporatism right now we will be able to do it in the future by better controlling our governments...how??? Participative democracy...we need to bring back decision in to our hands and we need a reform of democracy in order to achieve it...we have left our governments unsupervised for to long... Political systems are created by well intentioned theorists as a response to growing social unease, the the problem is that politicians spent to much time bending regimes in their favor from the inside, and by that destroying all hopes...we now live in the age of information, never have we had so much power...don´t you think we should aim for a reform of the regime structure itself..I mean, do we really need politicians, do we really need to be treated like children...how can we be happy if we are grown up men and women treated like a mindless mob, fed the same political crap for the last 50 years?"
- Yobachi2007 :"I call complete bull on 2:29:29. Plenty of people saw this collapse coming. It was necessarily inevitable. Can you predict every single chain reaction at every node, maybe not. But the principles at play here are pretty simple and age old.
There's a reason why Glass-Steagle was instituted after the great depression to keep commercial banks separate from securities firms; there's a reason why there is a prime interest rate and loans are typically not done below prime; there's a reason why the bankers were disguising and selling off their toxic sub-prime loans; because we know what the inevitable outcomes of these activities are already.
People just buried their heads in the sand and acted like they didn't see it coming because the good times were rolling. Even in this documentary there were quoted emails from the bankers saying that this was all going to collapse. They all knew, but they also knew the government would bail them out and transfer wealth from the working class to the rich; because it's what the government always does and always has because the politicians work for the banks, not for people! It's been that way since the government footed the bill to start the first privately own central banks in England and the U.S., and then gave these private company's power to regulate our economy. What do you think they're using the power for?" 15 Likes
- Brian UK:"And it's the bankers that control the governments.
Rothschild bankers control us all."
- Joe mariconadas:"Bro, you're right, but the average Joe is also responsible in part of all this. People are stupid and gullible for almost anything. If you're not very well informed about something that ain't your field. DO SOME RESEARCH. Today it's easier than it ever was. With the internet there is SO MUCH INFO that can educate you on how to protect yourself. But, mental laziness is basically the problem. Most folks react when it's too late. We basically live in a reactive society rather than a proactive one."
- Brian Smith:"Are you saying that there were opinions expressed in opposition to Reaganomics? I am shocked because no one expressed those opinions at the time .... oh, wait a minute .....in fact every single intelligent economic analyst did just that and sometimes in less-than-flattering terms such as "Reagan's voodoo economics." Actually there WAS a lot of opposition to the brewing nightmare in the public press at that time; there WAS a lot of 'talk on the street' AT THAT TIME. Fast forward a couple of decades and those making the decision to invest, the majority being under 10 during Reagan's destructive administrations, chose to look at all the future $$$ through rose-tinted glasses and decided to dismiss the educated predictions, assuming they had bothered to look at them at all. They were helped in their delusions by the governments and the lenders continuing efforts to downplay, sideline and silence the naysayers. The subprime mortgage scheme was just one effect of Voodoo Economics - I was advised in '95 or '96 by one of Bear Stearns high power players to get out of any Bear Stearns investments and I was fortunate to liquidate my holdings with BS over the next few years, but not before my BS executive/adviser had transitioned out of that toppling company 10 years before the meltdown. Reagan needs to be remembered as the architect of the deregulatory atmosphere that allowed the global economic meltdown to occur rather than the pretended victor of the Cold War - that would have occurred without his hot air anyway."
- dmoneytron:"True but during the saving and loan crisis they went to prison for fraud. Same fraud perpetrated in 2008 and they are back in business. I cannot support even 1 politician who takes any money from a bank because they will enable the fraudsters. The corrupt legislators, like McCain, the worst regulators and many others wormed themselves back into positions of control. All the savings and loan crisis did was delay the inevitable by a decade. Since the same CEOs are in charge I expect the next crash to be much more devastating."
- Yobachi2007:"A few went to prison, and there was still a massive bailout, were most of the perpetrators still came out with millions. The stage was set for the greater bailout of 2008, with the bar lowered for the expectation of prosecutions. Look back at news clippings for back then, the justice department made the same kind of "it's hard to prove fraud" arguments for not having done more prosecutions. Basically it let bankers know if you lie, deny and make sure things are sufficiently complicated that the justice department won't hardly even try. They'll at best only pick the low-hanging fruit."
- Watchman for Truth End Times:"CAT stands for Caterpillar and EMP stands for Electro Magnetic Pulse. Three letter satanic symbolism in all alphabet soup policing agencies. FBI, CIA, NSA, DEA, DoD, etc..."
- Jaymax - Josef:"So these Bank fuckers ruined the world we live in and now we have no choice but to suffer...I don't want to live on this planet anymore."
- urduib:"Nothing changed, no regulation. The derivatives in Us was 370 trillion dollars when it collapsed. Right now they are +750 trillion. 9 million house loans are about to default if interest move above Zero (feds plan to raise it in 2-3 months time). Now we also have a bond bubble and a Gold Paper bubble and a dollar collapse happening. Basically American Government sell bonds and buy them back with printed money, voila money is created. They also do this with gold paper. They drop 5 billion dollars in false gold paper, then buy them back 2 hours later. 54 countries just signed the China bank union to avoid the dollar that is basically worthless and collapsed. Germany - UK - India signed, so America is actually in a collapsing debt bubble as we speak. I predict a collapse this year. China dumped 80% of their dollars into real estate in the US. Buy gold silver and bitcoins and dump all currency you have. The world is in a downward spiral. Anything can happen now."
- llunaticraven:"Just my opinion, we should have let it fail, yes things would be hard, but there would be a chance to rebuild, can't help but feel we delayed the inevitable."
- eGGzis10nce:"We should have let it fail?" If a private business fails, taxpayers don't bail them out. period. That's capitalism. How they wrangled this amazes me. Too big to fail is as funny as the Y2k bug in 2000, scams, scams, scams, but what do you expect from monkeys in suits? Monkey business."
- blathermore:"Yes...we are spectators and actors...the directors write the play decades ahead. However, even directors can only set the stage...human beings can surprise even them. Don't you think the US was "written" for a totalitarian dictatorship in 1932? Or Britain for a violent Revolution in 1750? I believe miracles of uncreated Grace came because of the strong faith residing in the populations. You see, the directors are cynical and full of hubris...they are blind to humble hearts. Humility and self denial for others... not on the charts. They imagine everyone wants to be them!!"
- Robert Black:"And why is it that no bankers went to jail over this debacle?"
- Frank Black:"Goldman-Sachs is nothing but a Jewish financial criminal enterprise. The other shoe is about to drop with the collapse of the Chinese market. My suggestion to these criminals is to leave the country while they can."
- gordy threehorses:"Just wait, you haven't seen nothing yet this next meltdown will be the final nail in the coffin of the "GLOBAL ECONOMY" governments all over the world are going to lose complete control of their populations. supermarkets will not have food on their shelves, their will be no police, firefighters, or any other first responders on the streets, just tanks and armed troops with orders to shoot on sight."
- Rodolfo V Gonzales:"Over the past three decades, the Republican party has followed a familiar strategy — get elected to executive office by preaching fiscal responsibility, make a complete mess of things fiscally by deregulating, and then, when a Democrat comes in to clean up the mess, blame them endlessly for not fixing it fast enough. These processes and procedures have been more divisive and destructive at the local and state level as Gerrymandering has rendered many without adequate representation. So it was with president Obama! We see this currently, with the insipid Republican candidates blaming President Obama for our current debt level, despite the fact that Republican policies created the 2008 meltdown at the end of Dubya's administration! https://www.youtube.com/watch?v=VQzEWeGJLP0
- Trent Hogan:"BINGO! It was deregulations or as the right-wing media and spin doctors call it "Small Government" that caused both this great recession (GW Bush's deregulation) and the recession of the early 1990s( Regan's deregulation)."
- TaxGuru 91:"Clinton & the democrats started the deregulation...they wanted everyone to live the american dream. The high risk mortgage loans fueled the economy...And when people began defaulting on mortgages home prices fell for the first time in history. People lost their homes...Banks inherited the leftovers. don't defend either Party..don't believe theirs lies...propaganda...& the use of class warfare to change our thinking. 9/11 - was an inside job. Every-time they say we must lose our freedom so the Government can protect us. And their solution for protecting us...Prison walls . How can we have twice as many incarcerated people than any country has. If our society is that out of control...chaos would be rampant."
- Michael Alexander:"Amazing how White Wall Street smart as hell Wharton School of Business graduates, White guys with some of the highest SATs school on the planet, during an 18 month hijacked $12 and a half trillion dollars and yet none of them went to jail."
- Dan Harris:"I was looking for a good term for the systemic corruption that seems to pervade...everything. I am glad I read the comments. Hidden in plain sight. That is the term I was looking for. Its right in front of your eyes and once you see it, it seems all pervading, but the masses somehow live their lives and never see it. Hidden in plain sight indeed."
- rich b:"The Wall Streeters should have been walked into the street and executed. We did not do that and the Wall Streeters have continued to rob the worker. Shame on us."
- Closely Distant:"We started thinking that debt is OK because people who were educated in the matter told us that it was OK. They showed fancy graphs and flashing lights to people who had no idea what they meant. As much as our actions - of foolishly investing - led to this, there is no denying who's fault it is. That said - deciding on who's fault it is is actually trivial. The question is how to prevent it from happening. And while seeing that the world leaders are still talking about it is good, the only real way to keep the sharks at bay is to kill all of them. Or, less dramatically, re-route all trading to make sure that it happens through government, any government, channels so that all trading is constantly monitored. It can be done, we have the tech and it's fairly simple to train people to monitor numbers. And then, as soon as find inconsistencies, prison the fu*kers responsible."
- rich b:"I own my home, paid cash, no loan, still do and no second loans. Wall Street should direct the wealth of the nation into investments that will better the nation. All Americans have been hurt by this, not just those in the markets, nice try. The bailout was paid back early, it should have not have been. that money needed to stay out in circulation. The banks never did what they were supposed to do."
- Golden Eagle:"Who pays for it? Billionaires should. About time they actually contributed to society rather than rinse people dry."
- Mickey O:"So long as gov't don't dish bailout, everything is fine" There won't be another bailout. The govt has made it legal in Dec 2012 for a "bail-in", similar to what happened in Cyprus. This means when the banks get into another financial crisis, they will be able to garnish the money you have in the bank. Also in Dec 2014 the govt now guarantees the bank's derivatives by FDIC. This means the taxpayers are on the hook for $20-$40 Trillion of the bank's derivatives. A 3%5%% rise in interest rates means the derivatives bubble and the bond bubble will both burst. The banks will come in and take the money out of your bank accounts. FDIC has approx $40 billion to cover $10 trillion in deposits and $20$40 trillion in derivatives. A rise in the bond yield means ALL TAX revenues will be going to pay the interest on the debt, with nothing left over. Do you see a problem here? The only way out is to print trillions of dollars which will devalue the dollar and create hyper-inflation. Game over."
Zerohedge.com is one of the best financial sites on the web for those looking for great financial pieces.
I incorporated the comments of the people under the film on u-tube in my article.