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Four Numbers to Make Us Fight Mad. And One Way to Fight


#1

Four Numbers to Make Us Fight Mad. And One Way to Fight.

Paul Buchheit

If revolution is to happen, we Americans must be made aware of the destructive failures of the free-market system, and we must be angry enough to act, and, most of all, we must agree on a single demand of the people with money and power who have perversely redistributed our national wealth. First some maddening facts:

1. For Every BILLION DOLLARS of New Stock Market Wealth, Most of Us Averaged ONE DOLLAR in Stock Gains


#2

There is no class war in America?


#3

I deeply respect Mr. Buchheit's work and astute analyses of today's economic warfare system. What's missing however, is honestly scrutinizing the NATURE of all this paper-money "wealth." The Ponzi scheme works because many of its bureaucratic operators have gotten a little extra capital. This perk works to shut a lot of people up and placate them. In other words, it purchases complicity on a grand scale. Face it: in a society where capital is needed to purchase anything from a meal to a home, to a large extent Capital Rules.

The trillions of dollars merely printed and then distributed to banks to shore up the economy, starting with amply rewarding those in high places (in particular, members of the 1% who were directly responsible for the crash they knew would inevitably result from the evisceration of the Glass-Steagall Act since that particular measure was put in place after the First Depression's miseries had led to its necessity) is decoupled from actual measures of labor, product, and true indicators of worth.

So long as the scheme is maintained and goes without question, fake funds can be used to amass real assets in addition to purchasing lobbyists and through them, lawmakers and other political puppets.

Rather than come up with fairer dispersals of massive amounts of illegitimate "gain," it's time that the system be recalibrated, in general. Let those who created the debt through their wars of choice and bank bailouts pay the price of a global RESET.

The current amounts arguably owed go beyond what the entire global economy can produce. The Earth Mother is already mortally wounded in a great many places as plankton levels drop, oceans acidify and Fukushima sends its radioactive breath pulsing on the night winds.

The criminals who masterminded this unconscionable heist are not the ones who can or will fix it.

It's time for something else to replace the temples that today's Wall St. Midas built.


#4

If there was a class war the 1% won it when they installed that drooling old idiot from California! stuck_out_tongue_winking_eye


#5

The financial system had to crash the world economy in order to gain control of the world economic system and now the empire is cleaning up all the nations that still pose a threat to their autonomy.


#6

Americans have developed such a desire and preference for money that the public self-consciousness and commons seems to have ceased to exist.


#7

This sentence doesn't fit into the story: "The upper class is defined here as the top 10%, families with minimum wealth of $660,000 and minimum income somewhere between $114,000 and $140,000."

I know more than a few folks in that income/wealth description, and they are nowhere near that top 10%.

No doubt we will hear more about the America Permanent Fund. Where will we get the political party that will legislate it?


#8

Please! why does everyone refuse to see the wood in the trees?
There is one, and only one, cause of all our economic woes. During the early 1900's our stupid/corrupt politicians signed away our Sovereign "rights" , that allowed us to print and issue our own interest free, debt free money; and since then we have all become "debt slaves". Our rights to print and issue our own money out of thin air were ceded to private banking Corporations, thus now, we borrow all our money from them, and they simply print it out of thin air, and charge us interest for the privilege. Given the nature of our economic cycles, the booms and busts, it is virtually impossible for us ever to repay all such debts, especially since, when they print our borrowings, they do not also print the money to cover the interest repayments. This particular economic consequence was recorded centuries ago in the well known fable about the boy who possessed a goose that laid "golden" eggs; he sold the goose for a paltry sum and forever thereafter he was destitute.

The remedy for our problems is simple; we abrogate any agreement previously made, reclaim our Sovereign "rights" to print and issue our own debt free interest free money.

This will enable us to stop income-taxing of individuals; we may pay everyone that needs it a social wage, based on a break even computation, this will eliminate poverty and deprivation; those in receipt of the Social wage will be encouraged into employment, without loss of this Social wage, and to work for any employer for additional income, mutually agreed between them. this gives control of work and income to the "workman". Employers will gain a workforce of people willing to accept much lower wages than previously paid, thus making the employer production cost significantly lower; plus, the employer no longer collects taxes for the Government. The employer Corporation/business will pay tax annually as usual. The collection of V.A.T. or G.S.T., consumer taxes will cease.

All Government expenditures will be provided by the planned issue of our own debt free interest free money using legislation approved by Parliament. Health, Education, University courses, Infrastructure of all kinds, etc. etc.

Provided that all of these expenditures are actually "spent" into circulation they will not create inflation; inflation will occur, for instance, when too much money chases too few "goods". The Government must own and run it's own Bank, just like the original Commonwealth Bank. No Private Bank or Corporation will be permitted to create money, under any guise; our financial system will revert to one of "sound " money. Sound money is that which turns around sound borrowing and lending, controlled by being liquid cash, backed by the ownership of assets, and strict criteria keeping them in balance; borrowing and lending outside of these criteria, characterised as "high risk", will be permitted between parties willing to accept such risk, and then, only when it involves their own wholly owned assets.

Interest rates in the private sector will be set by the private sector. The floating exchange rate will be converted into "fixed" rates decided by Government, and as decided between Sovereign Nations and embodied in trade agreements. Our currency will not be traded on "Exchanges", our Nation will be immunised against the manipulated predations of the "Market".

The foregoing explains the broad brush strokes involved, but in summary we would have a Nation with little or no foreign debt, a Nation whose domestic economy sits on a solid unshakeable base, a Nation better able to compete in the wider World, a Nation without poverty whose peoples are empowered to think and work for themselves, a Nation rescued from the avarice of the "Money Lenders", and above all, a Government able to be free and Independent, instead of being owned by Corporate money and influence. This is named "The Universal Economy" because it will operate anywhere.

For those who doubt the efficacy of this proposal, I suggest they study the United States example. The clever banking Corporations engineered the U.S. dollar to be the Worlds reserve currency. Ever since the U.S. has been printing money out of thin air, the only Nation to do so, now they have military bases in more than one hundred and seven Nations, they have engineered regime change and wars in countless Nations, and recently have printed trillions of dollars, called quantitative easing, and poured it into foreign banks and financial Institutions trying to prevent the next meltdown; but it is not working because their printed money was not spent into circulation, instead it inflated the prices of shares and real estate, the bust cometh.


#9

Nicely stated, SR,

A Year of Jubilee were all debts are forgiven, especially the US government debt, which was mostly a fiction of illegitimate interest anyway (a private bank charging Americans for printing their own money) is what is needed. We've got to refuse to accept Federal Reserve Bank notes until that Central Bank has it's charter revoked.

Hard working students shackled by predatory tuition increases and loan sharks need to be liberated. $200 textbooks need to be regulated back to a reasonable profit margin. Green jobs that produce, not cars, but trains and solar and wind power generation have to happen, or we will not be long for this world.

The war economy and Globalization must be rejected as a major cause of global warming.

Things are so out of whack right now, that nothing short of a Complete RESET, as you put it, has to happen. Billionaires hiding their ill-gotton gains in Fake Charities like Gates and Buffet need to be confiscated. Corporate welfare to the arms and fossil fuel and biotech/biowarfare industries must be eliminated. Stolen Bank bailout money like TARP has to be returned to the taxpayers in the form of retroactive payments for cancelled benefits like food stamps and unemployment.

I suggest confiscating all wealth over a million dollars per individual. If you can't make it on a mill in assets or annual income, you're a burden to society. A millionaire is an unacceptable burden on society. A Billionaire is a curse.


#10

He left that analysis out because it's not true. QE is not printing money and it it not fueling the stock market rise. Low interest rates do make the stock market more attractive than fixed income investments but the expectation of future profits is what really drives stock prices.


#11

Not sure what you mean. If someone has a net worth of $660,000, they are at the bottom of the top 10% in terms of wealth (top of the bottom 90%).. If they have an income of $120,000 they were at the bottom of the top 10% in terms of income (top of the bottom 90%)..