Time to Hang the Speculators?

[georgephillip]

Chris Hedges offers his POV:

"Money, as Karl Marx lamented, plays the largest part in determining the course of history.

"Once speculators are able to concentrate wealth into their hands they have, throughout history, emasculated government, turned the press into lap dogs and courtiers, corrupted the courts and hollowed out public institutions, including universities, to justify their looting and greed..."

"Speculators at megabanks or investment firms such as Goldman Sachs are not, in a strict sense, capitalists.

"They do not make money from the means of production.

"Rather, they ignore or rewrite the law—ostensibly put in place to protect the vulnerable from the powerful—to steal from everyone, including their shareholders.

"They are parasites.

"They feed off the carcass of industrial capitalism.

"They produce nothing.

"They make nothing.

"They just manipulate money.

"Speculation in the 17th century was a crime.

"Speculators were hanged."

Chris Hedges: Overthrow the Speculators - Chris Hedges - Truthdig

Should subprime auto loans blow up in the same way subprime mortgages did five years ago, and Republicans AND Democrats in DC are unable to bail out the speculators the way they did in 2008-09, another possible solution was recently displayed in Cyprus where the idea was floated to allow speculators to use government to raid the private bank accounts of individuals with more than a $100,000 balance.

Imagine what would happen if Wall Street and its Republican/Democrat handmaidens tried that in the "Land of the Free" around November of 2016?

Should we steal from the 1% or hang the speculators?

Or both??

 

[eagle1462010]

We should look back in time and see what allowed it to be so....................

Should Amend the Constitution to end the Federal Reserve and take the power of producing our Currency away from the stock Holders..................

Look to history and why the Glass Steigall Act was made a law and make it so again.............

Stop the speculation of Commodities and limit trading on vital items under the SEC again............

Jail.............Yes, many should rot in Jail..................

Nice history we have over the last few decades.............S & L, ENRON, Y2K, Dot Com, and of course 2008 by the USURPERS of our country...........Who produce nothing of real value but damage all by FIAT CURRENCY MANIPULATION.

 

[eagle1462010]

No Politicians or those in the Gov't are listening..............Never have and never will unless we vote them all out...........

As far as sending them to jail for being part of the crime, they'll never prosecute themselves so it will never stop unless we VOTE them all out both sides.

 

[georgephillip]

No Politicians or those in the Gov't are listening..............Never have and never will unless we vote them all out...........

As far as sending them to jail for being part of the crime, they'll never prosecute themselves so it will never stop unless we VOTE them all out both sides.

When you have a few minutes, please take a look at Chris's article.
He lays out steps we can take without raising taxes or FLUSHING congress:

"We can wrest back control of our economy, and finally our political system, from corporate speculators only by building local movements that decentralize economic power through the creation of hundreds of publicly owned state, county and city banks.

"The establishment of city, regional and state banks, such as the state public bank in North Dakota, permits localities to invest money in community projects rather than hand it to speculators.

"It keeps property and sales taxes, along with payrolls for public employees and pension funds, from lining the pockets of speculators such as Jamie Dimon and Lloyd Blankfein.

"Money, instead of engorging the bank accounts of the few, is leveraged to fund schools, restore infrastructure, sustain systems of mass transit and develop energy self-reliance."

Chris Hedges: Overthrow the Speculators - Chris Hedges - Truthdig

 

[JimmieD]

Chris Hedges offers his POV:
"Once speculators are able to concentrate wealth into their hands they have, throughout history, emasculated government, turned the press into lap dogs and courtiers, corrupted the courts and hollowed out public institutions, including universities, to justify their looting and greed..."

Who are these speculators?

"Speculators at megabanks or investment firms such as Goldman Sachs are not, in a strict sense, capitalists.

"They do not make money from the means of production.

How do they get money to speculate with?

"Rather, they ignore or rewrite the law—ostensibly put in place to protect the vulnerable from the powerful—to steal from everyone, including their shareholders.

Why doesn't this seem to bother the shareholders?

 

[eagle1462010]

No Politicians or those in the Gov't are listening..............Never have and never will unless we vote them all out...........

As far as sending them to jail for being part of the crime, they'll never prosecute themselves so it will never stop unless we VOTE them all out both sides.

When you have a few minutes, please take a look at Chris's article.
He lays out steps we can take without raising taxes or FLUSHING congress:

"We can wrest back control of our economy, and finally our political system, from corporate speculators only by building local movements that decentralize economic power through the creation of hundreds of publicly owned state, county and city banks.

"The establishment of city, regional and state banks, such as the state public bank in North Dakota, permits localities to invest money in community projects rather than hand it to speculators.

"It keeps property and sales taxes, along with payrolls for public employees and pension funds, from lining the pockets of speculators such as Jamie Dimon and Lloyd Blankfein.

"Money, instead of engorging the bank accounts of the few, is leveraged to fund schools, restore infrastructure, sustain systems of mass transit and develop energy self-reliance."

Chris Hedges: Overthrow the Speculators - Chris Hedges - Truthdig

I did a quick read and wonder why he quotes Karl Marx instead of our Founding Fathers who state the same thing...........................

The Glass Stegall Act did all that he stated already.............By repealing the Act it in essence put 1,000's of banks out of business over the decades from the early 80's into the hands of a shrinking number of banks after a key provision was repealed...........

http://www.fdic.gov/bank/historical/history/3_85.pdf

 

[iamwhatiseem]

Nothing we can do at this point is going to stop the continuance of the greatest robbery in the history of man. We cannot go to our government, because the government is as much a part of the crime as the entire financial markets are.
The infamous video of Dylan Ratigan (MSNBC) who went nuts on air literally screaming "we are being extracted, the United States is being extracted by the entire financial system!!!!!!" - was exactly right.
And what does this system depend on the most??
Elected officials maintaining the illusion of the two-party system. As long as Americans maintain the party division - they will never join together to demand real change. And thus the financial markets will continue to enrich themselves while we suffer.
And let me just add - this President has not done a fucking thing to stop it. In fact, he is the best friend to the wealthy elite and the markets than any President before him PERIOD.

 

[eagle1462010]

Chris Hedges offers his POV:
"Once speculators are able to concentrate wealth into their hands they have, throughout history, emasculated government, turned the press into lap dogs and courtiers, corrupted the courts and hollowed out public institutions, including universities, to justify their looting and greed..."

Who are these speculators?

Hedgers, Shadow Traders, and all those assiciated with the Banking elite with Stock Holder Ties to the Federal Reserve......................

"Speculators at megabanks or investment firms such as Goldman Sachs are not, in a strict sense, capitalists.

"They do not make money from the means of production.

How do they get money to speculate with?

Federal Reserve Discount Window...........0% to 1/4% loans into interplanetary space. Currently loaning money to pay the margin calls.

"Rather, they ignore or rewrite the law—ostensibly put in place to protect the vulnerable from the powerful—to steal from everyone, including their shareholders.

Why doesn't this seem to bother the shareholders?

Bubble Machine, if you are at the bottom of the Pyramid you made the money, but if you are at the top of the Pyramid you could get your ass handed to you when the cards are pulled out at the bottom.

 

[eagle1462010]

http://www.sanders.senate.gov/imo/media/doc/GAO Fed Investigation.pdf

Page 144....................

Yeah that's them sir................I saw them rob the Federal Reserve....................

Who helped them............Why Congress did.............

How did you find out about it.................

SCOTUS made the Gov't Disclose the loans............

Yeah, I seen them make the bubbles and rob the Federal Treasury..............

Do you have any info on the Derivatives...........

We lost their trail when they passed Pluto headed out into space............


Great system there...........

It's good to be the king....................

 

[JimmieD]

Nothing we can do at this point is going to stop the continuance of the greatest robbery in the history of man.

What's being robbed?

Bubble Machine, if you are at the bottom of the Pyramid you made the money, but if you are at the top of the Pyramid you could get your ass handed to you when the cards are pulled out at the bottom.

What "bubble machine" are we talking about? What do you mean when you talk about this pyramid scheme? It sounds like a bunch of buzz words to me. Maybe you should insert the word "ponzi" in there too to add to the flare.

 

[dblack]

Chris Hedges offers his POV:

"Money, as Karl Marx lamented, plays the largest part in determining the course of history.

"Once speculators are able to concentrate wealth into their hands they have, throughout history, emasculated government, turned the press into lap dogs and courtiers, corrupted the courts and hollowed out public institutions, including universities, to justify their looting and greed..."

"Speculators at megabanks or investment firms such as Goldman Sachs are not, in a strict sense, capitalists.

"They do not make money from the means of production.

"Rather, they ignore or rewrite the law—ostensibly put in place to protect the vulnerable from the powerful—to steal from everyone, including their shareholders.

"They are parasites.

"They feed off the carcass of industrial capitalism.

"They produce nothing.

"They make nothing.

"They just manipulate money.

"Speculation in the 17th century was a crime.

"Speculators were hanged."

Chris Hedges: Overthrow the Speculators - Chris Hedges - Truthdig

Should subprime auto loans blow up in the same way subprime mortgages did five years ago, and Republicans AND Democrats in DC are unable to bail out the speculators the way they did in 2008-09, another possible solution was recently displayed in Cyprus where the idea was floated to allow speculators to use government to raid the private bank accounts of individuals with more than a $100,000 balance.

Imagine what would happen if Wall Street and its Republican/Democrat handmaidens tried that in the "Land of the Free" around November of 2016?

Should we steal from the 1% or hang the speculators?

Or both??

Hedges makes the same old mistake most socialists do: assuming that speculation and investment aren't valuable functions in an economy. But they are, and we can't make them go away. We'll always need some way of directing resources and labor toward the work that we want done. It's just a question of how.

 

[georgephillip]

Chris Hedges offers his POV:
"Once speculators are able to concentrate wealth into their hands they have, throughout history, emasculated government, turned the press into lap dogs and courtiers, corrupted the courts and hollowed out public institutions, including universities, to justify their looting and greed..."

Who are these speculators?

"Speculators at megabanks or investment firms such as Goldman Sachs are not, in a strict sense, capitalists.

"They do not make money from the means of production.

How do they get money to speculate with?

"Rather, they ignore or rewrite the law—ostensibly put in place to protect the vulnerable from the powerful—to steal from everyone, including their shareholders.

Why doesn't this seem to bother the shareholders?

What are they going to do about it, start their own private investment bank?

"Today’s speculators have created grotesque financial mechanisms, from usurious interest rates on loans to legalized accounting fraud, to plunge the masses into crippling forms of debt peonage.

"They steal staggering sums of public funds, such as the $85 billion of mortgage-backed securities and bonds, many of them toxic, that they unload each month on the Federal Reserve in return for cash.

"And when the public attempts to finance public-works projects they extract billions of dollars through wildly inflated interest rates."

Chris Hedges: Overthrow the Speculators - Chris Hedges - Truthdig

 

[eagle1462010]

Nothing we can do at this point is going to stop the continuance of the greatest robbery in the history of man.

What's being robbed?

Bubble Machine, if you are at the bottom of the Pyramid you made the money, but if you are at the top of the Pyramid you could get your ass handed to you when the cards are pulled out at the bottom.

What "bubble machine" are we talking about? What do you mean when you talk about this pyramid scheme? It sounds like a bunch of buzz words to me. Maybe you should insert the word "ponzi" in there too to add to the flare.

Ok. No problem...........It's a Ponzi scheme as well............

Are you happy now..............

Do explain how over a THOUSAND TRILLION in Derivatives in a few years betted is goof for the world...........

And how it of course didn't have anything to do with the crash of 2008, or the Dot com, y2k, and etc...................

It's all sooooooooooooo Innocent isn't it.........Just the markets man............Hey look, we raised the value of your house man...........It's now worth double what it used to be.................

Yeah, COOL..............POP............All gone................but NO BANKS FAILED MAN...............

16.2 TRILLION in Discount window loans to save the TOO BIG TO FAIL BANKS............sniff sniff.........as they blow up the markets without real economic recovery.........
and a Money Velocity that has basically died since the year 2000

HAPPY HAPPY NEW YEAR................STOCKS AT THE LARGEST LEVEL EVER................

YEAH................History will repeat itself...........and of course those who cause the next crash will blame everyone but themselves...............

Hanging them..............

Nope, Wall and firing squad.

 

[eagle1462010]

Derivatives and the Government Shutdown: Wall Street Bets One Thousand Trillion Dollars of Everybody Else?s Money | Global Research

The Lords of Capital (the “markets&#8221 are pure gamblers who have transformed the global financial marketplace into a machinery of perpetual uncertainty, in which all the wealth of the world is bet many times over by people who don’t actually own it, in a casino whose operators scheme against each other as well as their patrons, most of whom are not even aware that they are in the game – much less, that it is Russian roulette.

The notional value of derivative financial instruments is now estimated at $1.2 quadrillion – that is, one thousand two hundred trillion dollars. This statistic is fantastic in every sense of the word, amounting to 16.7 times the Gross World Product, which is the value of all the goods and services produced per year by every man, woman and child on the planet: $71.83 trillion. Derivatives are valued at six times more than the total accumulated wealth of the world, including all global stock markets, insurance funds, and family wealth: $200 trillion.

The great bulk of known derivative deals are held by banks that are considered too big to be allowed to fail, with the top four banks accounting for more than 90 percent of the exposure: J.P. Morgan Chase, Citibank, Bank of America, and Goldman Sachs.

We are told that derivatives are simply bets between knowledgeable partners – hedges against loss – and that every time one of these financial institutions loses, another gains, so that there is no net loss or threat of global collapse. But that’s a lie. Never in the history of the world has finance capital so dominated the real economy, and only in the past two decades have derivatives been so central to finance capitalism. The players do not know what they are doing, nor do they care. The meltdown of 2008 was caused primarily by derivatives, requiring a bailout in the tens of trillions of dollars that is still ongoing, with the Federal Reserve buying up securities that no one would purchase – that is, bet on – otherwise. Yet, the universe of derivatives deals has grown much larger than in 2008, effectively untouched by President Obama’s so-called financial reforms.

The casino has swallowed the system. The sums the players are betting are not only far larger than the value of the rest of their portfolios, but six times larger than the combined assets of every human institution and family on Earth, and almost 17 times bigger than the worth of humankind’s yearly output. Even if the whole planet were offered as collateral, it could not cover Wall Street’s bets.

Another bullet is in the barrel................Pull the trigger.................sounds like a movie.............the Deer Hunter had that scene................Welcome to Wallstreet.

 

[eagle1462010]

http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2011/09/Morgan Stanley FX.jpg

 

[CrusaderFrank]

Yes, the US Government has been emasculated.

Uh huh

Obvious

How do people as dumb as Hedges breed? "I have to put my what where?!!"

 

[eagle1462010]

Yes, the US Government has been emasculated.

Uh huh

Obvious

How do people as dumb as Hedge breed?

On Conservative values, most of the time we agree.................

On this issue, NEVER..................

I believe in Capitalism, not this BS..............

Our Founding Fathers WARNED us about this....................

And the Shadow Traders have destroyed us time and time again..........

I stand against them, and their NOTIONAL VALUES.............

 

[CrusaderFrank]

So maybe the government should stop guaranteeing the banks?

 

[eagle1462010]

So maybe the government should stop guaranteeing the banks?

Repeal the Federal Reserve Act............

If they tank us again, seize their assets to pay the bill on their speculation.

No more Discount Window loans............

After repeal they can no longer be the Stock Holders of U.S. Currency............

We will no longer pay them a fee, and 6% on bonds to create our own currency.........

If that is what you are implying then YES.

 

[georgephillip]

Nothing we can do at this point is going to stop the continuance of the greatest robbery in the history of man. We cannot go to our government, because the government is as much a part of the crime as the entire financial markets are.
The infamous video of Dylan Ratigan (MSNBC) who went nuts on air literally screaming "we are being extracted, the United States is being extracted by the entire financial system!!!!!!" - was exactly right.
And what does this system depend on the most??
Elected officials maintaining the illusion of the two-party system. As long as Americans maintain the party division - they will never join together to demand real change. And thus the financial markets will continue to enrich themselves while we suffer.
And let me just add - this President has not done a fucking thing to stop it. In fact, he is the best friend to the wealthy elite and the markets than any President before him PERIOD.

Hopefully we all remember the $900,000 Goldman Sachs donated to Obama's 2008 Hope and Change campaign. IMHO, November 2008 was a FDR moment; imagine if Ralph Nader had won that election? He would have spent 2009-'10 prosecuting the control accounting fraud on Wall Street that caused the Great Recession, and, based on a much smaller looting during the S&L looting of the 1980s when over a thousand bankers were charged with criminal counts and over 800 convicted, TEN TIMES THAT NUMBER OF SPECULATORS would have been locked up by now. Compare that to Obama and Holder (who will likely return to Wall Street related legal work when Obama departs) By the summer of 2010 Nader would have been ready for Medicare for All and 75% of us would've been behind him.

Third party candidates face long odds when trying for the presidency.
Not so much for House and Senate seats.
California ballots always offer three to five candidates for the House and Senate in addition to Republican AND Democrat FIRE sector tools.
Social media has the potential to convince millions of US voters to FLUSH dozens (hundreds?) of DC incumbent in a single news cycle.
Maybe Ralph can help (again)?
Or maybe he's already done his part