Remember those old ads showing a senior couple lounging on a warm beach, captioned “Let your money work for you”? Or the scene in Mary Poppins where young Michael is being advised to put his tuppence in the bank, so that it can compound into “all manner of private enterprise,” including “bonds, chattels, dividends, shares, shipyards, amalgamations . . . .”?
And you thought you knew how capitalism worked? It isn't just the same Dime Savings Bank account that you saved those quarters from Grandma in so many decades ago when you were a kid.
Banks want to be able to take your money if they need it... to say nothing about charging you money to keep your money in the bank - negative interest rate !!! You have to smile at that one.
Odd that there was no mention of them paying a fee to use your money to bail them out in case of disaster (as defined as them getting caught or simply messing up with extraordinary incompetence and an unrestrained greed).
Worse... if they took our savings (and not even a 'please' would be heard) to give them a handy 10 trillion bail out fund (a banker's savings account using our money to protect them from their own shenanigans) to be used whenever necessary...
... what happens if their repair and restoration efforts don't work? How do we get our 10 trillion back again.
Hell I feel like I'm gambling in Vegas just by putting my money in a bank these days except in Vegas the house doesn't have odds that these bankers have. In Vegas there is always a small chance that you could win.
Stream of consciousness:
- Harrington Solar Storm event (wiping out electrical grids)
- Hacking of computers--think Target, Govt. Employee Records, a variety of other entities
- Massive data lost "in the blink of an eye" at Wall Street's twin towers during a certain sudden event
- High tech: "Dog ate my homework" excuse...
What better way to eliminate paper trails than to turn the entire web of data over to the bankers, the same felons who gamed the global economy so that the house would take all... those chums, the taxpayers for a PORTION of what they've got.
Now, with those same banks stronger than ever and NOTHING significant done to rope in their felonious tactics and unprincipled practices, they're gaming for the NEXT "Big Take."
Any HONEST assessment of global economics recognizes that the so-called Financial Market has mortgaged everything of value. By setting up gargantuan wealth streams tied to the ABSENCE of product (these monies are mathematical algorithms based on expected future loan payments), they've so over-leveraged the system that they need the public's savings--as lifeblood--to sustain the graft.
Zombie bankers, indeed run the place!
Since elite powers now own most politicians, and as Catherine Austin Fitts has brilliantly explained, the government has become a subsidiary of these global corporate behemoths, they are very apt to push TPP and TIPP through. With the precedent of the public's bailout on the books, it should not be difficult to set up negative interest rates which is just a fancy way of saying--stealing what's left of citizens' savings.
If only it was as simple as getting a few of these criminals-in-$5000 suits into the guillotines! THAT might work as an overdue deterrent to global corporate crimes of so massive a magnitude.
Anytime the Repugs. talk about "balancing the budget," it never includes properly (as in a progressive tax system) taxing the rich, putting the obese military-industrial complex on a diet, or closing the dam that hemorrhages funds (via long-established subsidies) to Big Agri and Big Oil, etc. But the idea of giving workers a raise or investing in back-to-works programs are kept off-limits.
The bastards know that "trickle down" economics doesn't work, that NAFTA and treaties like it ship jobs to the lowest paying labor markets (where a lack of environmental rules is also valued), and that Austerity does nothing but further cripple an economy--from the standpoint of its working families.
"Consumers today already have very little discretionary money. Imposing negative interest without first adding new money into the economy means they will have even less money to spend. This would be more likely to prompt them to save their scarce funds than to go on a shopping spree."
The entities that are redesigning Nature into sterile uniform fields with every living thing allotted a price-tag, and fomenting wars (while selling weapons to both sides, or making sure that enough are left behind to equip the "enemy du jour"), and sending funds to the top of the financial pyramid could CARE LESS about improving societies. That is not "their department," neither a concern to these card-carrying sociopaths.
One of the insights I endeavor to bring to this forum is the understanding that NOTHING of significance occurs due to ONE factor.
This is very likely true:
"Economist Martin Armstrong goes further and suggests that the goal is to gain totalitarian control over our money. In a cashless society, our savings can be taxed away by the banks; the threat of bank runs by worried savers can be eliminated; and the too-big-to-fail banks can be assured that ample deposits will be there when they need to confiscate them through bail-ins to stay afloat."
Just this morning it occurred to me that the 3 branches of our unique government design intended to ensure that power never concentrate into one entity alone--congress, courts, and presidency or legislative, judicial, and execute--have been replaced by the big corporations, Military-media industrial complex, and the big bank titans.
The quote above depicts the banksters' role (and hand) in the New World Order. (And I think the term Order equates with the fascist version of an orderly society).
There are also the composite contributions of the corporations--through their financial control over lawmakers, and the intimidating muscle of the Military Industrial Complex, its stockpiles of weapons and thousands upon thousands of armed guards conditioned to follow the orders that come down the command chain.
And lately, scum like Clapper marking high-caliber citizens like Edward Snowden--as a dead man.
I consider the present to be a Dark Age; but I also know that the wheel of time turns and the greatest hubris of warriors is to think they can retain control of human beings granted the right to the pursuit of happiness by their Creator.
These individuals--corporate moguls, heads of banks that command more money than entire nations, and those with Kill Powers at their fingertips--imagine themselves to be demigods, masters of the universe.
And yet what ideals do they serve but spreading death, destruction, and destitution. They serve a dark god, indeed and his mantra might well be:
"I am become death, destroyer of worlds..."
Life cannot be entrusted to such as these. The world will come to understand this lesson and indeed, this lesson is global even if the central Cancer (M.I.C) began inside our own Cancer (July 4) nation.
Let the Banksters set monetary policy and what happens?
ALL money is theirs, not ours.
Instead of printing its own money our govt borrows from the Banksters.
Despite the Constitutional authority to print its own.
OK .. "coin" its own .. but it amounts to the same thing.
That is the problem.
It's time to break up the Big Banks.
And that includes the Biggest Bank - the Fed.
Bring back Abraham Lincoln's United States Note.
They worked fine from 1862-1971.
I love and admire Ellen Brown's recipe for State Banks or a National Bank. However, as is true of even the best minds (and the formula they bring to the table), blind-spots appear. Or perhaps I would better define it as getting lost inside one's own paradigm.
I am referring to the concluding statement:
"Consumers will hit the malls when they have some new discretionary income to spend."
It probably could be argued that the European Education model that stresses a "separation of the disciplines" leads to an academic form of Savant.
Such persons are indisputably expert in their own arena of research and study but don't look much outside it.
Humanity has entered a period in which the whole premise of consumerism must be greatly altered. It's one thing to see group exchange programs, fair systems of barter, and Time Banks that exchange services and things only where necessary.
The Earth--as LIVING BEING--is overtaxed everywhere--from her sea salinity levels to her burning forests, from her deserts turned overnight into anomalous flood zones, to her newly awakening volcanoes.
More consumerism may be a solution within a model that grants primacy to man-made economic models, but it is almost as dangerous to the sustainability of life-supporting habitat as are war and mono-crop agriculture spread by the immoral likes of Monsanto and Bill Gates.
Computers (hopefully with encryption designed by humanitarian ecologists) could set up underground Time Banks. With every person's contributing hour rendered an equivalent value, then if I need an hour of massage and can trade your child an hour of homework tutoring; we exchange these contributions SANS money, electronic or otherwise.
Imagine if entire communities adopted such a measure. That would be a trans-money society. And where would that leave... the banksters?
I just got a flash of Saturday Night Live doing a parody on "Leave it to Beaver," in the form of "Leave it to the Bankster!"
A scenario would be shown where the banker looks like he's aching over sums (financial tallies) in a book. Next scene he's driving a fancy car and people are banging on the bank doors crying, holding up paper that's worth nothing.
In other words, his solution is the fancy car for himself... at direct expense to everyone else.
The voice-over makes light of this behavior, dismissing it as a form of adolescent mischief: "Leave it to the Bankster..."
And if the concept became a regular feature, other scenarios that advantage the self/Bankster at the expense of others would also be depicted.
Remember--in times of authoritarian lock-down, typically only the fool (comedy) can tell the king/dom the truth.
Hi, I was already over the recommended word limit so limited my "solution" to a paragraph, but I'm glad you gave me a chance to address that. Of course we don't want people buying unnecessary trinkets. But renters SHOULD be homeowners, to avoid extortion from landlords; people SHOULD have enough to eat, and to be able to afford healthy organic food; they SHOULD be able to afford college, etc. Bernie Sanders is promoting Roosevelt's Economic Bill of Rights: that means getting more money in people's pockets. There are plenty of ways to employ people and spend into the economy that not only don't use scarce resources but that save on their use -- education, research and development; more efficient infrastructure; more efficient energy use; environmental cleanup, etc. Personally, I would favor some central planning on that: earmark the money for environment-saving use. But the point of my article was that if the central bankers are really trying to stimulate the economy, they're going about it wrong; and if they're up to something else, we should know and be alert.
I think we can figure things out ourselves, but it's nice that you are working so hard to help out here, SR. Personally, I like a lot of what you write until you start bringing in your personal belief system (astrology, channeling, reincarnation, with little Greek gods etc), then you lose me.
"Negative interest." Don't you just love the semantics games these people play. An honest description would be" we are going to help ourselves to a percentage of your money until it's all gone or you move it somewhere else." Eliminating cash would involve more than banks, though, since it is the purview of the Congress to issue currency and regulate it (Article I Section 8 US Constitution). I rather doubt banks would have an easy time of it.
Also, not many people know that JFK did much the same thing. For a brief while, the banking notes did not say: FEDERAL RESERVE NOTE, but SILVER CERTIFICATE. And that was almost never reported by the MSM, but after the assassination of JFK, one of the first things that changed was the elimination of silver certificates.
Thank you for clarifying; and of course I agree with you on all counts.
The impetus for a "Back to Work" program that retooled our nation for now inevitable climate-driven challenges and improved the infrastructure that The Army Corps. Of Engineers gives a grade-D to, are overdue.
Mr. Sanders gets a lot right. He's the first candidate I've committed to supporting with a small amount each month.
Thank you for conveying the understanding of what a just, profitable, and efficient banking system would look like.
I might "lose you" but I may also show others a way of seeing that is never spoken about.
I have always found it more than amusing that we live in an age where nothing intimate and sexually based remains in "the closet," but to espouse a belief system that lifts consciousness higher than the Flat-lands versions of "this, or that," "either, or," "team A or team B," "with us, or against us" remains taboo and yet is LONG overdue.
And since I am gifted in this field and freely share what I know, let those who benefit from this HIGHER vision do so. You are, of course, free to bypass my posts. Persons' adherence to orthodoxy inhibits them from making waves of change... when change is the lifeblood of the Life Process.
Several posters have pushed their intolerance on me in the form of their own version of political correctness. They also expose their authoritarian bona fides by sometimes trying to get my posts banned, determining what subjects they believe I can speak freely about, and censoring which ones they disapprove of. Or is that you think someone with knowledge in a field to which you are ignorant... requires your approval?
So long as those with limited mindsets get to determine what others see, come to know, and take for viable... the current cloud of Inverted Totalitarianism will maintain its grip.
Whether you realize it or not, your stance resonates with that of the old church-state in its wont to quell the voice of all "heretics."
It's ALWAYS the heretic who advances society, cat. Those who conform tread water within the existing status quo.
Of course TPTB will eliminate cash. So that they can track every transaction. This has for a long time obviously been the inevitable direction they will go in.
Just like broadcast TV was replaced by cable TV; NOT so that they can "provide more to consumers," but so that they can track everything everyone watches.
They "monetize" this data in myriad ways. Irrespective of terrorism or any other criminal consipiracies, "they" demand complete control over all parts and processes of "the system."
.. In the instance of this phenomenon, the WE-item is a tough sell.
Interesting. But why wouldn't they want to legalize banking services for state recognized and legal drug businesses, then? Confiscation is difficult unless it becomes illegal to purchase ( any ) things with cash. Which is pretty much a bridge too far. The underground economy runs on cash and the rich use it to much greater affect than the working classes. Of course, laundering drug money by int'l banks provides more " skim " opportunities than legal anything, I suspect. Bartering for services and things goes on, as well. There are lots and lots of things out there in the market place, already, to be swapped and traded for. Just go to an auto parts or gun and sportman's swap meet. " A billion here, a billion there, pretty soon you're talking about real money. " And, none of it has a President on it.
Great column by Ellen Brown. This is more evidence that our so-called capitalist system has turned into a nest of gangsters who prey upon the public. We almost got to that point with Obamacare. (I favor a universal Medicare system.) Consider this: Under Obamacare the federal government coerces, through the threat of heavy fines and perhaps eventually jail time, the public to buy private insurance policies that are designed mainly to suck money out of people's pockets. Any health benefit involved is almost a happy coincidence. Many of the policies are next to worthless, especially in cases of "moderate severity" -- that is, you can still go bankrupt before the government bailout provision kicks in to save you financially. And for all that most people pay stiff premiums to the greedy insurance companies. Why do Americans tolerate this kind of blatant abuse by our government and private industries? That's the big question. And the big answer apparently is: Because our "democracy" is a sham and we can't really do anything to stop it.
I guess my sin is that I refuse to drink the Kool-Aid, SR? You'll have to forgive my skepticism, have run into too many so-called "gifted" people who were basically just delusional narcissists. Not that I am saying you are, just explaining why I don't buy into the claim. But I do enjoy your posts sometimes and certainly would never try to stop you from expressing your beliefs. When I said you lose me, I meant claims only supported by astrology or some channeled spirit cannot be substantiated, so not validated. take that any way you like.
Based on US General Accounting Office (GAO Report 11-696, page 131) information from 2008 through June 2011 Congress put US taxpayers on the hook for more than $16 trillion in various bailout schemes benefiting the too-big-to-fail banks. You note that Obama's 2014 Dodd Frank rollback puts taxpayers on the hook for another $10 trillion.
I estimate that $26 trillion would cover 15 or more years of Bernie Sanders' proposed Medicare for all. Break up the big banks and fund Medicare with the bailout money with (contrary to Hillary's concern that Bernie can't do it without taxing us to death) nobody's taxes being increased.
i guess for me it's a case of the world being "both / and" rather than "either / or".
Another benefit of a cashless system to the coming out-of-the-closet totalitarian state, is the power to deny living expenditures to those who end up on a no-spending blacklist.
Don't support the State, then can't pay rent or buy food, and bartering of any kind but in particular with black listed individuals will be a criminal act.