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Fed Program Meant to Help Workers Amid Pandemic Prioritized Wall Street Investors Instead: Analysis

Originally published at http://www.commondreams.org/news/2020/09/23/fed-program-meant-help-workers-amid-pandemic-prioritized-wall-street-investors

This is what corporate rule looks like.

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Government has been completely reconceived and reconfigured to be nothing except government of, by, and for predatory corporations. That is what government means now.

Government no longer has any public service dimensions. It is all about SERVING TRANSNATIONAL CORPORATIONS AND PREYING ON, DISPOSSESSING, THE PEOPLE AND THEIR COMMONWEALTH.

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If the committee wanted to be fully transparent, it would have provided the list of companies in each category they cite. Shareholders do not know whether their company was among the companies not listed in the committee report.

Wash, rinse, repeat…this has been going on since we began bailing out various corporations, from the car companies in the late 70’s, to the Savings and Loan scams in the late 80’s, to the grand bailouts of 2008-09. Until we truly scare the plutocrats that we will turn hard left and go socialist, taking their ill-gotten gelt to fund a green revolution, nothing will change. The minimal programs of the 30’s, while appearing to be socialist, were just crumbs tossed to the hungry masses. FDR famously said, " Better to give a small amount of your fortunes to preserve the rest of it, meanwhile knowing it will increase once again."

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Thats very true, and its on a global scale. Why do people here think that further endorsing this group is going to help, all its going to do is gauarantee another financial crisis like the ones that in other countries stole entire nations jobs, savings and retirement.

We’re going to be hit with the same “shock treatment” that the institutions we control have imposed on so many others.

Thats going to be the result of further endorsing this system. We can bet on it.

We need to stand up for our rights and democracy and refuse to rubber stamp their theft of everything from everybody or we’re going to be its next victims.

Read up on the history of the past 40 years or so. People have no idea the things we have done. A vote for Trump or Biden is a vote to keep on stealing the planet. Biden seems likely to me to be particularly sleazy, in that he stands for the exact opposite in many cases what people think he does.

The people here who know this but who still hide it share the culpability.

How much more of this lying are you willing to tolerate ? Seems as if many of you are pushing this agenda which you couldnt possibly support unless you are total hypocrites.

You must realize by now that its the total opposite of what they say.

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In a capitalist system, the capitalists, like shareholders in a corporation, say they should be entitled to the company’s profits because they have their own money at risk. But the Fed (representing the public) has $7 trillion at risk in these corporations, (boosting the market and shareholders & CEO’s wealth beyond avarice), but gets no share of the profits, only a minute interest rate.

How’s that for the public being taken for a ride? Socialism for the wealthy.

How’s that for ending the Reagan nonsense, what has always been fraudulent or stupid, “the government is not the solution. The government is the problem”. Well, it’s not the problem for those at the top.

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The Fed is a private bank, isnt it?

The $2.2 trillion CARES Act provided Treasury with an additional $454 billion that can be used to backstop the Fed’s programs.

There’s something wrong with a system that would have the power to print the nation’s currency in the private hands of a few.

I don’t know myself how ownership of the Fed is structured. But I do know that it should belong to the public.

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Hmm… I just saw something abouut that. I am around 3/4 of the way through a pretty interesting read. It was written by Chakravarthi Raghavan, who is Editor Emeritus of the South-North Development Monitor (SUNS). You might want to check his “Financial Services, the WTO and Initiatives for Global Financial Reform” - Its about the period the WTO and its regulation of services began, and the period up to and including the recent Global Financial Crisis. Its not about the parts of the crisis that get written up in the US press, its about the global regulatory part. But its very interesting nonetheless. its on the web site of the Group of 24,

Or g24 dot org

— the problem is with corporations being people, they are seen as the public, in that they are the only group that has standing at the international level in some contexts, Generally the US agreements allow suits (called investor-vs-state or ISDS suits) by corporations agaisnt governments.

Not natural persons. We dont exist at all at the level of global economic governance.

WTO agreements only allow suits between countries on behalf of their people (corporations) US is a big advocate for corporate rights - suits by corporations against governments and their taxpayers.

However, on one day out of every year, people (the natural kind) can attend guided tours of the huge and visually stunning WTO building, while its closed for vacation.

Thats as far as they go as far as letting people be involved. People can make an appointment to go on the next one of these tours which is probaly a little less than a year from now.

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A fifth grader knows that to help workers you put money into the workers’ hands. So Jerome Powell, are you smarter than a fifth grader or just speak with forketh tongue?

" total opposite of what they say ". Mr. Powell? Donald Trump? Mnuchin & Co.? Congress? The Corporate Republicans? The Corporate Democrats? The Corporate MSM?
I can’t keep up with the list of suspects.
Could they all be in on it together? My best guess is they are. Orwellian Rules for MBAs!

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Trade agreements take more and more policy space out of the hands of the governments irreversibly. They all individually make up stuff to explain this lack of power.

There is a good discussion I saw the other day about this issue on Youtube. Please watch it even if you dont understand it.

It contains a lot of things which would help raise the level of discourse a LOT if US voters understood them.

~https://www.youtube.com/watch?v=0VyRiDCO5k4

Orwellian is right. Re-read your copies of 1984, and Animal Farm!

Orwell was very aware of how governments conspire between one another to capture everything, especially interpretations of things, and how elites set up onion like layers of knowledge.

The goal is to keep the people in the most extreme state of unawareness imaginable.

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Your comments are greatly appreciated.
Yes; trade panels, gov’t commissions and int’l financial organizations…
Sounds like organized crime panels. { snark }

yes it is, its the most sophisticated organized crime ever and its coming for everything people still have without exception. It plans and will almost certainly succeed in stealing the country (and planet) from its people. Soon.

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They want workers to accept dirt low wages, also the government is not allowed to inhibit the profits of banks and payday lenders, etc. Foreclosures are the payoff for banks when borrowers default on loans.

People might have noticed the shift, interest rates above certain amounts - what used to be called usury is now protected by international treaties.

Huge fiancial disasters come like clockwork every few years to make certain the market is profitable.

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They can tell us how to run our country now in many ways, even though they cant actually reach in and change our laws, the effect is the same, unless we want to lose billions of dollars.

. Thats a huge change thats happened which most people have no idea has occurred.

For example, they may be able to take over deciding who gets visas to come here and work for five years or more, for very low wages.

Since its not permanently.

Why hire expensive workers if you can get them for a third of the price?

Business is ecstatic about this because they feel as if supply and demand gives them an entitlement to wages falling a lot. Below our minimum wage, although we now require foreign firms pay a legal wage, $6.50 an hour for an engineer was too low.

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I believe you are right. I think there are some videos about it on youtube