By Stephen Wellman
(Note: click illustrations to enlarge.)
To be exact more like September 30, 1999 at the US Treasury …
The US Treasury FY1999 numbers are first. These are the numbers for the entire FY1999, under Clinton. We can all admit that 1999 was a good year for the economy and stocks and real estate. Things were booming! Nobody called 1999 a “recovery” …
The numbers in the red boxes are for half (H1) the FY2014 under Obama. We are supposedly in a recovery, but according to Keynes the US Treasury would only have to go into debt and spend a lot if there was a recession or depression. In other words government would fill the spending gap the private sector couldn’t, so in essence a true recovery could be defined by less government debt and spending not more. By that definition we are not in a recovery and the numbers below prove it.
Okay, so what stands out the most in those red boxes? I would say the Debt Limit is like a sore thumb! In FY1999 US Debt was only $5.95TRIL and now half way through FY2014 it’s at $17.51TRIL and notice there is no more “limit” as it has been suspended until next year March 2015!
Now go look at the Interest on Public Debt line item. For FY1999 total was $187BIL on $5.95TRIL in US Debt, yet on US Debt for FY2014 at $17.51TRIL the US Treasury will barely pay more than it did in FY1999 on debt that is three times larger. WOW-W-W-W!! THE POWER OF QE!!!!!!
In 1999 the Fed Funds Rate(FFR) was at 5.5% and the US Fed just raised it ¼ point then. Now imagine the FFR is at 5.5% today! Still say that QE is for the “economy” for “Main Street”?
EXXONIAN DESTRUCTION
Here at Kaimu Nursery we grow orchids and other tropical flowers. In my studies to increase production there are certain chemicals called “growth regulators” and “growth stimulators”. Money based on its quality can also cause the same economic results. Under our current monetary system we have increased population and consumption based on debt. What is debt? In simple terms it is borrowing from the future to consume in the present.
You can see these “debt effects” at the US Treasury. For instance on March 31, 2014 the US Treasury reported net debt increase of $863BIL over a six month period(H1) of FY2014. We can now equate that to a more layman’s view as to the consequences of that action by our government.
Now let’s take that $863BIL debt and see how it looks by comparing it to Exxon. Exxon was formed in 1882 under the Standard Oil Trust. That means Exxon (XOM) has been around in various incarnations for over 130 years. If you look up Exxon market cap as of last Friday it is at $420BIL. Now take that $420BIL XOM market cap and divide it into the six month $863BIL debt increase at the US Treasury. You get 2.05! That means in six months the US Treasury issued enough debt to buy over two 130 year old Exxons.
It took Exxon over 130 years to drill and risk capital to find oil and gas to service the needs of the USA. It took the US Treasury a few weeks to input debt auctions that resulted in $863BIL. The US Treasury usually holds these auctions on Tuesdays and Thursdays. What did the US Treasury risk and does the US Treasury have a product that can create an Exxon that creates jobs and services for the needs of the global masses? Or does the US Treasury simply create a product (debt) that only has a use for the maintenance of their entrenched political and monetary monopolies?
My question is this. Why would we entrust a corrupt government and central bank who devised this monetary system to be responsible and credible and efficient in the way they construct this massive debt and its distribution? It seems our modern money is backed by nothing more than the human condition and resultant whims of politicians and their bankers. Not very stable in my opinion and certainly wide open to massive infinite corruption.
It’s moving closer to $18TRIL!!!!
ORWELLIAN FED FUNDS RATES
It is interesting how history is molded by those in power, both politically and monetarily. It is in fact Orwellian following the books of George Orwell’s 1984 and Animal Farm. The idea is to exclude the parts of history that do not support the current monetary monopoly owned by the US Fed.
Go to the New York Fed website about the historical Fed Funds Rates and you would think that the Fed Funds Rates started in 1971 and there was nothing prior.
In fact did you know the Fed Funds Rate started in 1955 at 1.78%? More amazing is that by 1969 the rate was at 8.2%. Did you know that in 1969 with the FFR at 8.2% the 10yr US Treasury rate was at 6.67% and the Prime Rate charged by banks in 1969 was 7.96%. In 1969 there was no such animal as a 30yr US Treasury bond. The 30yr bonds did not start until 1977.
So in 1969 there was a bit of contango whereby Prime Rates were less than the Fed Funds Rate so we in the public got our own “discount window” briefly. However our “discount” did not come close to the US Fed member banks discount window rate of 5.87%. Also notice that the mortgage rate in 1969 was at 7.81% on new homes, which is below the Fed Funds Rate of 8.2%. See the Table B-73 below. The table below is from the Government Printing Office.
GPO LINK: http://tinyurl.com/mvvqj9z
To say that FFR things have radically changed since 1969 is an understatement. To say that “infinite government debt” was unleashed onto an unsuspecting world in 1971 was an even greater understatement!
In reality not much was constant during the final gold standard years. The Fed Funds Rate moved in a range from 1.78% to 8.2% from 1955 to 1971. Shortly after Nixon closed the gold standard down in 1971 the Fed Funds Rate moved up to a high of 20% in 1981. To be sure the gold standard years never saw any rates above 8.2% and nothing lower than 1.78%.
In fact here is what debt markets looked like from 1929 to 1954 …
The first thing you notice is there was no 6mth, 3yr, 10yr or 30yr for most of that period, only 3mnt rates. You can see what the 1929 stock market crash did to rates, but noticeably absent is any quoted rates on mortgages for new homes.
CONSENT OF THE CONSUMERS
Perhaps there needs to be a new Congressional Amendment to the US Declaration of Independence to say …
“ … Governments are instituted among Men, deriving their just powers from the consent of the CONSUMERS …”
Well, since 70% of US GDP is consumption it seems appropriate. Yet, can you govern consumers? Can you make people spend? Both George Bush and Obama have tried to with various stimulus, but have not been successful. Consumers just use whatever direct stimulus or tax breaks to pay off debt. Perhaps the stimulus should be to forgive debt. Go right to the heart of the issue instead of dancing all around it.
Since the major US banks created the mortgage fraud when they securitized derivatives full of less than stellar loans then I would say it is time to forgive 25% of the value of all existing mortgages. And if you had a mortgage between the years 2008 to now then you get a check for 25% of your loan value as of Sept 2008, when Lehman Bros filed Chapter 13.
Not a good plan? Well, here is what the head of the vaunted Univ Of Michigan Survey of Consumers says about it.
I have been reporting on the economic implications of the latest twists and turns in consumer expectations at this conference for nearly four decades. From the heights of expansions to the depths of recessions, consumers had never deserted their bedrock belief that the economy would produce ever increasing levels of affluence. The Great Recession, unlike any other downturn in the past half century, has not only tarnished the American Dream, but has prompted some fundamental changes in consumer expectations and behavior.
Major fundamental changes happened. What are they according to Mr Curtin?
In past recessions, consumers would have relied on rising incomes and asset values as well as debt cutbacks to speed their rebalancing efforts. With stagnant incomes and deep declines in home values, people had no other viable choice but to reduce their spending. Consumers reluctantly accepted the fact that their prior, more optimistic, economic expectations were now unrealistic.
If I didn’t know better I’d think the head of Michigan Survey of Consumers was colluding with the NFIB with regards to the same outcome of “optimism”. In fact the Chart #1 below could have come from the NFIB!
According to the Chart #4 above consumers are worse off now than the worst year under George Bush and that would include the years of the banking crisis. Look at Q4/2013 compared to FY2008. Yet somehow in FY2008 the DOW crashed to the 6800 level yet the DOW is over 16000 today. Reread the chart above. It shows that 91 is average in Q4/2013 it was at 55.
This next Chart #6 reflects my outlook with regards to being a small business owner in the discretionary spending category. Two words come to mind … “extremely anemic”!
Next we have the issues of d-e-b-t!
And one of the major factors are Americans still stuck in mortgages that erode too much of their working capital. In Chart #21 you see that consumer debt still has not been reduced any and in fact has risen a bit. Now imagine what this chart would look like if the US Fed under Yellen were to raise the FFR to 1%? To 3%? In 2015 they think maybe 4%! Nevermind the debt service burden on the US Debt when FFR rates go back up to 4% since the US government can print money, but none of the consumers can print money. We all actually have to work for it and earn good credit scores and be honest taxpayers.
CONSUMER SURVEY LINK: http://www.sca.isr.umich.edu/fetchdoc.php?docid=48864
CONSENT OF THE GOVERNED
It seems Ukrainian politicians are finding out what the concept of “consent of the governed” means. From the US Declaration of Independence …
“ … Governments are instituted among Men, deriving their just powers from the consent of the governed …”
The politician being beaten up in the photo below has discovered that what he thought were “just powers” wasn’t exactly what his constituents thought were “just powers”. This is where government largess gets neutralized. Kudos to the Ukrainian people for implementing “human action” in the face of extreme corruption, arrogance and hubris. All global politicians, including the US Congress, need to take note. There is massive global unrest in the world and for good reasons. The governed are fed up with the corruption. I am sure that King Putin is not very happy with his puppets!
Here’s the part of the US Declaration of Independence about the “consent of the governed” …
We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. — That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, — That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.
Ukraine? Nope Boston!
72 People Killed Resisting Gun Confiscation in Massachusetts
Reuters USA-March 16, 2014
Reuters; Boston, Ma. – National Guard units seeking to confiscate a cache of recently banned assault weapons were ambushed by elements of a Para-military extremist faction. Military and law enforcement sources estimate that 72 were killed and more than 200 injured before government forces were compelled to withdraw.
Now here is the reason for this mass killing …
Speaking after the clash, Massachusetts Governor Thomas Gage declared that the extremist faction, which was made up of local citizens, has links to the radical right-wing tax protest movement.
Extremists? Isn’t that one small tiny step away from “terrorists”? There’s more …
Ironically, the local citizenry blamed government forces rather than the extremists for the civilian deaths. Before order could be restored, armed citizens from surrounding areas had descended upon the guard units. Colonel Smith, finding his forces over matched by the armed mob, ordered a retreat.
Wow, and we all thought it was Idaho where all the nut job survivalists hung out …
On July 4th, 1776 these same “right wing anti-tax extremists” signed the Declaration of Independence, pledging to each other and their countrymen their lives, fortunes, and sacred honor. Many of them lost everything, including their families and their lives over the course of the next few years. Lest we forget…
Now … if you read the above Reuters news release then you would have been scammed. Those 72 people were not killed in 2014 but they did die in 1775 in the Battle of Lexington against the British who were trying to confiscate arms from civilians.
This was a great history lesson in that it demonstrates that you believe history can and will repeat. It also shows you how with simple changes a news story can create havoc and cause unrest. It shows you that what George Orwell warned us of so long ago is still a very real possibility.
Yet USD flatlined …
Speaking of US Dollars … 1968 ones!!!!!
BULLITT POINTS
Not sure you can have sustainable community whilst the community members contend with unsustainable debt, either per capita public debt or per capita private debt. In 1953 per capita private debt was $10,315 and by 2008 that had grown to $149,600 per capita. Add in per capita public debt in 2008 of $33,200 and you have total per capita gross debt in the USA of $182,800.
From 1918 to 1973, a 55 year period private debt grew at a pace of 450%, averaging 8.2% per year. After the 1971 Nixon monetary default private debt from 1973 to 2008, the same 55 year period grew at a rate of 1,450%, averaging 26.3% per year. Clearly a substantial increase and clearly a direct benefit to bankers, not communities. Essentially debt levels are still at historical tip of the iceberg levels. A correction needs to occur and that deflationary correction is what the global governments and central banks are fighting tooth and nail to prevent, essentially by adding more debt to the equation.
Adding to that debt burden is the added burden of devalued labor units due to monetary corruption that causes a loss of value in the monetary unit, the purchasing power. For instance if you had a minimum wage job in America in 1953 you made $1,530 per year. You could pay off the average new home cost of $9,950 in 6.5 years. While the generations now working minimum wage in 2008 make $13,362 with an average home price of $245,300 it would take 18.35 years to become mortgage free. Of course we all know the cost of food and fuel and taxes make it near impossible to own a home on a minimum wage income. This is where further stress comes to bare on the community because it takes at least two adult workers to sustain a mortgage and household now rather the single earner income in the 1950s. Add to the stress that each of the two earner families now probably must have multiple jobs to make ends meet.
Another monetary anecdote is the movie Bullitt with Steve McQueen. Shot in 1968 there is a clip in the film where he parks his Ford Mustang in a hotel parking lot. As the camera pulls back you see a sign on the side of the hotel advertising rooms for $1.75 per night or $7 per week. You might think that is the slum or skid row, but where he parked was the Embarcadero area of San Francisco, not exactly a typical poverty stricken slum. In that same year, 1968, minimum wage was $1.60, so in an 8 hour day you made $12.80. That is enough to stay at that hotel on the Embarcadero for a week and have enough left over for food. Try making that happen today as the price of a hotel room on the Embarcadero today is at least $200 per day, or $1,400 per week. With current minimum wage at $7.25 a day’s work would yield $58 not even enough to buy a six hour stay at a hotel in San Francisco. You’d be starving and homeless! Is it that the cost of things have gotten very expensive or is it that the value of our money has been decimated? I’ll go with the latter.
There is no question that the per capita debt has burdened the communities of America. Debt enslaves people and causes the debtor to spend more hours away from family while causing stress on the community in the form of psychological and physiological impairments. The cost to treat these stress related ailments, which includes addictive behavior, makes every community less sustainable as the productivity and overall health and happiness of the community suffers. There are these relatively unseen and seemingly unrelated consequences for the role of expanding debt on the world. Its a vicious cycle whereby more debt adds more burden. Your behavior changes in a profound way when you take on a mortgage and car loan commitment.
The sustainability of the community needs to factor in corrupt monetary policy of government in order to survive. I would say one of the single greatest stressors to community now is our corrupt monetary system. My 1970 labor units have been decimated by this central government central bank regime. Unfortunately our leaders today seem to mistakenly believe this will affect them and their families little going forward and so they place a low priority on any monetary changes that in my opinion should be the top platform on any Presidential campaign, but instead it is an issue widely ignored and in some ways forbidden to even discuss in a national TV forum. It’s the 900lbs gorilla sitting in the Oval Office! The way forward is not to ignore the current monetary crisis. When it comes to a corrupt monetary system we are the 100%!
WRAPOLA
Is the US Treasury the only one that has not figured out that you cannot make a “real” copper penny for a penny anymore?
From plastic to paper … The US Treasury unveils the $100 bill on YouTube in 20 languages!
Something every Ukrainian needs when dodging Putin’s bullets …
We have a culture here globally that wants the life of Wolfie as depicted in the movie The Wolf of Wall Street. They are titled “traders”, but in fact are just highly paid shufflers of other people’s money. Here we have an obscure currency trader from UBS who just got suspended for possible fraud.
First off all the following photos were publicly posted by this UBS trader himself. It is public information on Facebook, Youtube, Instagram and a myriad of other social media.
Second, I do not post these photos to make people look bad, but to show you the “culture” that has risen to the top of the global banking industry. Hardly a day goes by now without a new scandal. This is the “culture of easy money”! It is the “culture of monopoly”! It is the culture of people who really produce nothing useful for humanity. Their products skim profits from those who actually do produce a useful product for humanity.
Arrogance would be an understatement here as Hollywood has idolized this same culture, this lifestyle of power and greed. It cannot help but be intoxicating. The basis of all this extended bubblemania are governments and central banks and the corrupt money they employ to monopolize the markets.
Moving on! The man … the trader … the UBS employee … is Onur Sert.
UBS Said to Suspend Traders in New York, Zurich, Singapore
UBS AG (UBSN) suspended foreign-exchange traders in the U.S.,Singapore and Switzerland as its investigation into the alleged rigging of currency markets widened, according to a person with knowledge of the matter.
They include Onur Sert, an emerging-markets spot trader based in New York, and at least three more worldwide, said the person, who asked not to be identified because of the probe. Sert and Dominik von Arx, a spokesman for UBS in London, both declined to comment on the suspensions.END
On his twitter account he describes himself as this …
Onur Sert
@trywalker
just a vain spot monkey learning how to fall into inevitable peace from the top of an imaginary windmill.
New York · trywalker.com
You drill deeper and go to trywalker.com and you get a page full of currency trades.
LINK: http://www.trywalker.com/
HA! That name TRYWALKER. On the FOREX … TRY is Turkish Lira! On his first article dated April 9 he talks about a TRY/ZAR short position. A ZAR is a South African Rand. Hmmm … obviously the website seems abandoned, perhaps he gave it up when UBS hired him!
I am guessing on all this but the name TRYWALKER means he likes the Turkish Lira and likes the TV show Walking Dead where zombies are called “walkers”! He is a Turkish Lira Walker! HA!!
Now Google Onur Sert Trywalker and we get Intagram with his photo …
LINK: http://instagram.com/trywalker
Now go to Onur Sert photos on Twitpic and you see him at Standard Chartered trading desk in Singapore with one photo of him pointing to a computer screen and he entitles it “losing my marbles at the office”! He is half smiling perhaps he made a bad trade? He is definitely a boozer and likes the high life as these photos show. On page three he shows a EUR/USD trade only it is in Turkish. Lots of photos with booze, Metallica, soccer and on page three half way down he is sandwiched between two Asian girlies(?) with the caption “I LOVE ASIA”!
TWITPIC LINK: http://twitpic.com/photos/trywalker?page=3
Wow, no wonder he made it to Nirvana in Wall Street he fits their profile! A guy willing to compromise all morals and ethics to get to the top! A true Wall Streeter! What a loser …
Here is his photo with Asian hookers(?) …
LINK: http://d3j5vwomefv46c.cloudfront.net/photos/large/319381651.jpg?1307814796
He admits he is a “vain spot monkey”! He thinks he is Wolfie Jr!!!
MAN … I love the internet!
Losing my marbles …
He loves an Asian sandwich … I LOVE ASIA (his actual caption)
Metallica THE GOD THAT FAILED
His own private Whiskey label …
Here Onur, Wolfie, Jr., is pissing on a sign …
I gotta admit it … Onur looks like one crazy ass dude to party with! Imagine the stories he could tell about his life shuffling money and which client he screwed over this week … Wow …
Onto another scandal over at Morgan Stanley …
Bond Traders From JPMorgan to RBS Said Placed on Leave
Mortgage-bond traders at JPMorgan Chase & Co. (JPM), Morgan Stanley and Royal Bank of Scotland Group Plc (RBS) were placed on leave in recent weeks or months, according to people familiar with the matter.
JPMorgan’s Ben Morganstein and Inga Norton,
- Morgan Stanley’s Nicholas Bonacci
, and Adam Siegel of RBS were told not to come to work, the people said, asking for anonymity because the matter is private. It’s unclear why or if the actions are connected, the people said.END
Well here is Nicholas Bonacci or “Nick” who was a mortgage bond trader from Morgan Stanley. The photo and stats below are from his Dartmouth Lacrosse days back in 2007. So it took Nick about seven years to end up in hot water on Wall Street. Nick got high on the money!
His job at Morgan Stanley was trading mortgage bonds, bonds backed by mortgages of differing ratings. What productive purpose does his job serve for humanity? I see what it does for him and Morgan Stanley, but it does nothing for me and the other 5.8 billion people on the Planet. Am I being too harsh and unreasonable here? I mean maybe he just wants to make as much money as possible in the shortest possible time so he never has to work again. Maybe? Your Prozac awaits you sir? The world is littered with the broken bodies of those dreams!
Besides little does Nick know, or maybe he does, that his bosses’ boss, his company’s boss, the US Fed and the US Congress, all our ultimate bosses, are working very hard to make sure no matter how much money Nick makes in his “productive years” that it is never enough! The Dartmouth genius “attackman” is focused on attacking the monetary symptoms of his unproductive goals. In fact it is not just Nick who spends his whole life “attacking symptoms” … we all do! This entire country has been chasing monetary symptoms since 1913!
Now we go to that same 2007 Dartmouth review of Nick Bonacci and we get this description of Nick’s character.
I guess he took his “attackman” attitude too serious over at Morgan Stanley.
Still it makes me wonder what he could have done had he channeled that “aspiration too be excellent” into a more productive career, like a doctor or an engineer or a software designer or a research scientist or even just a plain old small business entrepreneur. Honestly, I have never met anyone or known anyone who said they wanted to be a “trader” when they were in high school trying to decide their future career. I am sure Nick was lured by the BIG MONEY! Is this our country’s fate to have our “best and brightest” sold off to Wall Street?
He is also a member of this prestigious club at Facebook …
Enough of Nick now let’s get on to another “money shuffler”! I have covered a “shuffler” from Turkey, one form the Ivy League USA and now one from Asia, a female money shuffler …
Yet another recent scandal this time over at Deutsche Bank in the UK …
DEUTSCHE BANKER
Forex Scandal Hits Singapore Central Bank
City A.M. (UK)
By TIM WALLACE
Friday April 11, 2014 7:25 PM
A SUSPENDED Deutsche Bank trader may have had inappropriate links to the Monetary Authority of Singapore (MAS), it emerged yesterday.
London-based sales director
- Kai Lew
was put on leave last month as part of the bank’s internal probe into alleged foreign exchange benchmark manipulation.
The action was taken because she had communicated improperly with MAS, the Wall Street Journal reported yesterday.END
Below is Kai Lew’s LinkedIn page and it is hardly surprising that she has worked at Goldman Sachs in her past. At Goldman Sachs she learned how to sell derivatives to unsuspecting clients. The after the derivatives failed she sold them Debt Syndication.
For starters the Asians, who make up a large part of the global population, need to quit learning the western ways of fraud if they want their countries to thrive.
Kai Lew who was just recently suspended by Deutsche Bank …
The photo below shows Kai Lew (far right) in attendance to a charity event to raise funds for TUSK, a British based charity that conducts various wildlife and sustainable living projects in Africa. Mostly the projects are more about wildlife than the poverty ridden African people. Next to her is Andrew Pitts-Tucker(middle) another Deutsch Bank employee.
According to the TUSK website the charity has raised $30MIL USD since 1990. My calculations show this is only $1.25MIL per year. If you look at the list of corporate partners and individual supporters you see major European banks and even some “Sirs” and royalty. In fact the Duke of Cambridge joined TUSK in 2005. Seems like a paltry sum for such highly paid corporations and CEOs and celebrities and royalty.
Given that TUSK has raised so few funds over a 24 year period it seems the organization is more focused on relieving rich people, bankers and CEOs and celebrities and royalty, of their global guilt. I would hazard to guess that the lists of corporate partners and their CEOs spend way more than $1.25MIL on new Porsches ever year.
TUSK LINK: http://www.tuskusa.com/
So much bank scandal these days … Will it ever end?
WESTOLA VIRUS
The Asian countries are suffering from what I call the “Westola Virus”. This is similar to the Ebola Virus only on a monetary and financial level. The “West” has infected not only the Asian governments and markets but the entire world.
The Asians who are in power politically and financially have been sending their kids to the USA and UK to be educated for decades now. They are educated at the most influential universities there are. That would be schools like Harvard and Oxford and all the other ivy leagues. These are not so much centers for learning as they are centers for entry into the elite class. You are educated and trained to be an elitist. Most of the people I have met from those institutions have the superiority complex that goes with it!
To a layman who was not educated at those schools it is amazing that they still carry so much clout. If these schools really did create these marvels of genius then why is this world in such decay and corruption? From every angle the world is worse off than it was fifty years ago. The governments are more corrupt. The banking system is more corrupt. The corporations are more corrupt. The academia is more corrupt. Society is more corrupt. It seems to me the basis of all this corruption can be traced back to one source … THE MONEY! When money loses purchasing power and earnings cannot keep up with cost of living then people get desperate and “cut corners” and resort to less than ethical behavior to get ahead or to just “survive”. If I were an elitist I would insist on a world where there was a more equitable money system and free market economy. Very few dictators live long or have rewarding lives. Elitists seem to follow dictatorial pathways utilizing monopolistic tactics.
An example is the latest market scandal at Deutsche Bank whereby Kai Lew, a foreign exchange trader, was put on suspension for “benchmark manipulation”. She is UK based now but is from Hong Kong and educated at Oxford with a Bachelors in PPE(Philosophy, Politics & Economics). After that she went to work for Goldman Sachs in 2000 learning Fixed Income Derivatives and Debt Syndication. She left the culture of superiority at Goldman Sachs and went to Deutsche Bank at FX Sales. All she has done is led an “elitist” life from Oxford to Goldman Sachs to Deutsche Bank. What product has she produced that has made a better life for the masses? She sells derivatives and debt! Great for her and her monopoly but the rest of the world suffers the “toxic fallout” from elitist greed. Even in her social life she is elitist. I have photos of her at an art auction for the charity TUSK, which has such patrons as the Duke of Cambridge. The auction was sponsored by American Express held in London. She is shown sipping wine with another Deutsche Bank comrade and some Asian model. These elite people’s feet never touch the ground! They exist in an Alice in Wonderland world where they can manipulate everything including bank rates with no real repercussions. This sort of culture of power and greed is encouraged and rewarded. It is a “carte blanche” life …
Just like England and the British Empire the British went around the world converting Africans and Asians and Americans into “Little Englands”! The “American Empire” has done the same, picking up where the Brits left off, only we go around the world converting Africans and Asians to “Little Americas”! Our government spends huge quantities of taxes and debt to make the world conform to our view of life. We want them to use our money, use our banks, use our democracy, use our fraud and enforce it with our military and our advanced weapons.
So at the point where China takes over for the American Empire then the “Chinese Empire” will go around the world making “Little Chinas”! The sad reality is all the “Little Empires” have almost no noticeable differences. They are worlds where the rich and the elite still occupy the most privileged lives, mostly done through the manipulations of monopoly and fraud. Like I have said before: “We can put a man on the Moon, but we can’t devise a fair money system on Earth?”
Will the human race ever learn from history? It seems highly doubtful.
What’s gotten “globalized” most is FRAUD …
All these “bad bankers” could be a remake of the Stanley Kubrick film “A Clockwork Orange” …
The common thread for all these huge banks who are part of the US Fed cartel and the many “traders” they employ is their desire to “print money”. They make their salary by printing products that serve no use other than to enrich themselves and their employer. Take a bunch of over rated bonds bundle them and sell those paper bundles and there ya go! YOU JUST PRINTED MONEY!
Why do we put up with this huge malinvestment of not only capital, but human potential? Surely you can see that all of this points to a desperation of sorts, maybe not overt, maybe it is overt, but it seems this corrupt money system promotes “malinvestment” across the board spanning all countries and all of humanity.
The youth of today born after 1971 have no reference point, no concept of “purchasing power”. When I speak to youth they cannot fathom that gasoline was once less than $0.50. That for one dollar you could have bought a Big Mac with fries and a vanilla shake. That once a California two bedroom, two bath apartment utilities included was just $200 a month. They cannot conceive that a new Chevrolet or Ford car was once less than $4,000. They cannot conceive that movies were $0.10, double matinee. They have no idea what a “double matinee” is now. A nice new home in a nice neighborhood for $10,000? A time when you could retire on $100k? GO back and reread my “Bullitt Points” section. Back in the 1960s you did not have to work very hard to get by and families did not need two “earners”. All gone now!
What to do? How do we get back our purchasing power our labor units? The answer is to complete scrap the system of money we have now. It cannot be reformed enough to make a significant difference. Besides those who are in power like the “traders” and Congress, who also “shuffle” other people’s money like this corrupt system as it is. It serves their needs and when you are powerful it seems human condition dictates that “your needs” are what matters most. It is a beginning to void the Federal Reserve Act, but who among us voters is smart enough to elect a Congress that will do that? Who in Congress would voluntarily do that now? I think I can count how many Congressmen would do that with three fingers … um … maybe four … out of 535! Hardly a majority is it?
Take your choice … Sofa Party or Tea Party? We are all the 100%!
“When the stock market crashed, Franklin Roosevelt got on the television and didn’t just talk about the princes of greed. He said, ‘Look, here’s what happened.” – Joe Biden, current US Vice President
“I don’t know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we’ve been talking about today or anything anybody else was talking about.” – Alan Greenspan, 1999
“Everyone has the brainpower to follow the stock market. If you made it through fifth-grade math, you can do it.” – Peter Lynch, of Merrill fame
“But we have to ask ourselves, what’s the purpose of the stock market? It’s supposed to be a source of capital for growing business. It’s lost that purpose.” – Mark Cuban, owner of HDTV Magnolia Pictures
“Agriculture is not crop production as popular belief holds – it’s the production of food and fiber from the world’s land and waters. Without agriculture it is not possible to have a city, stock market, banks, university, church or army. Agriculture is the foundation of civilization and any stable economy.” – Allan Savory, the Savory Institute