This page has been archived and commenting is disabled.
Bankster Fraud Has Driven 100 Million Into Poverty, Killing Many
Fraud caused the Great Depression and the current financial crisis, and the economy will never recover until fraud is prosecuted.
Fraud is the business model adopted by the giant banks. See this.
The Obama administration has made it official policy not to prosecute fraud. Indeed, the “watchdogs” in D.C. are so corrupt that they are as easily bribed as a policeman in a third world banana republic.
The mouthpieces in Wall Street and D.C. pretend that financial fraud (like Libor) is a “victimless crime“.
But the World Bank notes that the financial crisis – you know, the one caused by financial fraud – has driven between 64 and 100 million people into destitution.
Some estimate the figure to be much higher. For example, one 2009 study estimated that 140 million people would be driven into poverty in Asia alone.
AP reported in 2009:
The global financial crisis has pushed the ranks of the hungry to a record 1 billion people … United Nations food officials said Friday in Rome.
This is not just a matter of having less money for entertainment or luxury goods. Increased poverty leads to an earlier death.
As the Los Angeles times notes:
Poverty appears to trump smoking, obesity and education as a health burden, potentially causing a loss of 8.2 years of perfect health.
This is not an abstract concept. A lot of kids will die due to Wall Street fraud:
The global financial crisis sweeping through Wall Street and the European banking sector will touch the lives of the world’s most vulnerable, pushing millions into deeper poverty and leading to the deaths of thousands of children, according to a new United Nations study.
***
The report highlighted the prospect of an increase of between 200,000 and 400,000 in infant mortality and that child malnutrition, already rising, will be one of the main drivers of higher child death rates.
While developing countries will be hardest hit, increased poverty and hunger are hitting the U.S., Britain and other first world countries are as well. The inability of the newly-poor to pay to heat their homes also kills.
Paul Moore – former Head of Risk at HBOS – says that the financial crisis has resulted in the greatest humanitarian crisis since WWII.
Moore says that we are witnessing a “financial holocaust” brought on by the banksters … with huge numbers of potential deaths in the works unless we fundamentally change the system.
»
- advertisements -
Please. This tired old line from the Bard has been used more than a 30 year old hooker in Mombassa.
Destroy Mordor nation.
Good grief. Are you 16?
Destroy Murdoch Nation
Destroy Murdoch Nation
The only thing that can be done is to break the machine and make a better one.
The responses here read like a totally defeated citizenry, resigned to accept their fate as opposed to a revolution, which is what it is going to take. It appears that we are indeed a nation of politically correct, weak people, no longer worthy of the freedoms we inherited.
Let me put it this way, Glomar. In a situation such as we currently find ourselves in, a prudent person must pick his/her battles. I think many feel this way. We realize what needs to happen.
http://www.youtube.com/watch?v=bAYiul6uyaI&feature=player_embedded
The alternative is death. The local police don't investigate. It's a federal matter. The number of "suicides" is rising dramatically.
http://www.youtube.com/watch?v=cD_iocm9H6E
For fuck's sake. Pay attention. We are all doing as much as we can. You boys sit around counting yoru money all day. YOU ARE THE SHEEPLE.
Seriously. Have you not been paying attention? Are you lost and confused? Perhaps waiting for your parents to die so you can get the inheritance or already living with them?
Christ Almighty!
Another one - met with silence from MSM
http://www.youtube.com/watch?v=01n-jTBknY0
It is too bad, because most of the powers that be don't have contact with anyone outside their circle.
The MSM is their feedback mechanisim.
By not honestly reporting things, they are going to eventually cause real problems.
Nothing new under the sun. This is from a speech by Senator Mcfadden in 1930's.
http://www.afn.org/~govern/mcfadden.html
"Recently in one of our States, 60,000 dwelling houses and farms were brought under the hammer in a single day. 71,000 houses and farms in Oakland County, Michigan, were sold and their erstwhile owners dispossessed. The people who have thus been driven out are the wastage of the Fed. They are the victims of the Fed. Their children are the new slaves of the auction blocks in the revival of the institution of human slavery."
Some quotes to read about credit (paper) money
http://www.fame.org/NotableQuotes.asp
"Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice." - George Washington to J. Bowen
Yep. I read a lot about monetary history before going PM crazed, and what you wrote there was a common theme. Recently read the demonetization of silver wiped out millions upon millions in India back in the day. Its no small wonder why they do cherish gold and I don't believe it is just because its pretty and shiny.
I believe it is possible to study history and find solutions to our current problems.
I believe it is possible to solve them with peaceful means by using the court system, education, etc.. Almost all of the people running the current system are decent people and have never even heard the alternatives. Once you see how the monetary system was originally designed in the Unitied States, it becomes self evident that it would be a superior system and result in prosperity if implemented again. With modern technology, it could be even better than the original system.
It would also be very possible to transition back to a Constitutional money system without harm to anyone. The key is re-estabilshing public mints and assay offices to allow the people to introduce new money into the system.
Read this book. It discusses one of the first departures from the Constitutional system by legislation. The change they made was very small but resulted in huge problems. You can gain understanding of how the original money system worked from reading the text.
http://archive.org/details/coinsfinancialsc00harvrich
Then read about the 1965 Coinage Act.
http://www.presidency.ucsb.edu/ws/?pid=27108
That act ended 172 years of the dollar being defined as a measure of silver and paper bank notes and government notes being redeemable for silver coin. It is important to understand that the Eagle was the unit of measurement for gold coin and the 'cent' or 'penny' for copper coin. The 'Dollar' was never on a gold standard. It was on a 'Silver Standard'. In 172 years the amount of silver it represented never changed. This was the great strength of the USA Money System. The Dollar was a weight and measure of silver. To say a Dollar of Silver was equivalent to saying a Gallon of Milk or a Pound of Butter. Everyone knew what you were talking about.
Consider also that the silver coin in circulation that Johnson mentions was part of the People's commonwealth and our heritage under the Constitutional Trust that was established. The wealth should be restored to them. The Gold coin that was removed from 1913 to 1933 shoudl also be found and restored into circulation. Look at how much silver coin he says was in circulation. Since matter is never created or destroyed, That silver and gold still exists somewhere.
All of those gold and silver values could be drawn back into the money system by establishing public mints and assay offices and passing proper coinage laws that regulated the value of the coins such that people (and banks and coprorations) would voluntarily turn in their gold and silver to receive the new coins. This is just a made up number but if they passed a law creating a 1/4oz '50 eagle' gold piece *worth* five hundred dollars, people would turn in their gold to have it minted into these new coins. They would then spend the coins into the economy. Other nations would be willing to trade with us to receive the coins, etc. Value for Value instead of trading Value for Debt It would stimulate the economy like crazy. The coins would pass from hand to hand and allow people to pay their debts. Like I said this is a made up number. Proper values depending on the total outstanding credit money would have to be determined. It could be done. It would not even be that difficult. They could even keep parts of the Fed in place like the check clearing system, etc.
Money is one of the things that makes civil society possible. The more corrupt the money system, the more it corrupts society and government. In 1910, The USA had no income tax (or tax on labour), We had a huge surplus in the treasury, We manufactured over 50 percent of the worlds merchandise and the Federal Government derived most of it's operating expenses from duties and tarrifs on imports and exports. Why can't we return to that system!
Read Jefferson's opinion. It is just as valid and self evident as truth today as when it was written.
http://avalon.law.yale.edu/18th_century/bank-tj.asp
Jackson's Veto is also fantastic - from back when men were men and you put your objections on the record. His warnings were prophetic. Look at what we have today.
http://avalon.law.yale.edu/19th_century/ajveto01.asp
We really need to stop pointing fingers and gain the political will as a people to fix this. The answers and solutions are right there in the history books.
All of the other stuff like 'healthcare' will be nothing if the monetary foundation of our Republic is restored. When my Mom had her first child, it cost $80.00 including a hospital stay. 80 Silver Dollars. Most people did not even have insurance. It was a non-issue. We had prosperity.
Veritas te Librum
You hit the nail on the head. Great post. None of this doomsday, revolution bullshit. Just positive workable solutions. Bravo.
revolution = turn.
I heard someone say that a 'revolution' was nothing more than turning around and going the right way.
It doesn't have to happen on the streets or in the government or with violence at the point of a gun
it can happen in everyone's hearts and minds. We had a war during the first American Revolution but most of it really happened in people's hearts and minds. One of the major reasons was education and the printing press. We have the freedom of the press back right now with the Internet. We have it far better than they had it back then with their pamphlets, moveable type and meetings under the Liberty tree. Look at what they accomplished! People are always talking about the 99 percent and the 1 percent. I have heard that they did it with about 10 percent (educated). Imagine if we could get 20! All of the books they used like the Weath of Nations, Blackstones and West's commentaries on the Law, etc. are still available. You have to dig through a lot of crap to find it, but when you see it, the truth is really self evident.
Veritas Te Librum
I agree. I suggested a revolution and storming of the FED and other institiutions to remove these tyrants but the responses are mostly those of the defeated. So in the end, people on average are choosing to be screwed over.
Read any of the empire decline histories. Rome, Ottoman, Mayans. The decline like a series of steps. Reform, if some of the corruption, for a while. But there is too much wealth and power in the imperial city. Rome or Washington. Why risk life and fortune when you can hang around our Versailles and the 5 wealthiest counties and rip off a nice big juicy hunk of federal pork?
Yes, the precipiate is painful to most in a once thriving civilization.
Now the water is being drained and it's every-man-for-himself.
And that Fed pork is never ending......just a big fat fraud target...same old shit, different civilization. Common denominator is humanity obviously.
http://s17nyc.org/
Occupy Wall Street invites you, the 99%, down to the Financial District for three days of education, celebration and resistance.The 1% is controlling our fates; we are drowning in loans, student debt, fraudulent mortgages. You are not a loan. Democracy is sold to the highest bidder, destroying our political process, our communities and our environment. Join a mass mobilization of the 99%. Stand and be counted. Let’s occupy our future, together.
They can steal your job, your home, your freedom, your vote.They can’t steal our ability to dream together.
Nothing is impossible once you refuse to live in fear.
Whenever Geithner speaks, Obama shuts up and listens!
The tax-cheat G. with the help of fraudster Dimon and heli-ben are running the country ....into the ditch. And there ain't one damned thing we can do about it.
Defeatist.
Until 2 miillion march on Washington peacefully, there will be no "American Spring", and nothing wil change. Done!
I wrote this 4 years ago ...
Fascism Is Over ... If We Want It
Many times, when I explain to people what's going on in our country today, they at first argue that things aren't really that bad, and that America could never go fascist.
After a couple of examples about what's been happening recently, and a brief overview of what fascism actually means, they get it.
But then they shrug their shoulders and say "there's nothing I can do", hoping that that's the end of discussion.
Are they right? Is there nothing we can do about fascism? Should we just hunker down and try to survive it?
Well, first of all, there is something we can do to break free of the fascist concrete which has been poured over America, before it really hardens.
Here is just one example:
1 million people surround the White House. 1 million more surround Capitol Hill. Everyone wears red, white and blue to show that we are pro-America (and because it will be such a sight to see that the news cameras will be attracted like flies to honey).
If that happened, the spell of fascism would be broken, things would start to get done, and America would be freed. Says who?
Well, its happened repeatedly throughout history whenever people have been willing to stand up. The Ukranian people stood up to tyranny and won. The East German people stood up to tyranny and won. The people of the Philippines, Serbia, Czechoslovakia, Indonesia and other countries around the world have won against tyranny whenever ordinary people have poured into the streets in massive numbers and demanded freedom.
And here in the U.S., even though Nixon said he didn't care what the American people thought, he backed off on dropping a nuclear bomb on Vietnam when hundreds of thousands of people turned out to protest an escalation of the war (and see this).
But, but . . .
Now you might raise all sorts of potential problems with this option. I'll get to that in a minute. However, I want to stress that if 2 million people did this, it would work, and the fact that we're not doing it is only proof that we're too lazy or lack the commitment to do anything.
Okay, here are some possible objections and rebuttals to the objections . . .
1. There has never been that large a protest. We can't organize that many people.
With the web, we can do it.
2. If we use the web to organize, it would be infiltrated.
Well, with government already spying on our web usage, emails and phones, of course it would be infiltrated. But that doesn't mean we shouldn't do it.
3. Police might try to disrupt the protest.
Yes, they probably will try. That's why everyone should bring cellphone cameras or videocams. If police turn violent or use agents provocateur to incite violence, we film it all, and broadcast it worldwide on the web. That would make the government look really, really bad. Also, everyone should sign paper pledges in advance to be peaceful and not use any violence under any circumstance. And if you see anyone trying to incite violence, have a group of people escort them away from the protest.
4. Too busy, don't have the time off from work, or don't have the money to participate.
Yes, we might have to call in sick to work, spend some scarce funds, rearrange or cancel some commitments. It might be a sacrifice, but we could do it if we really wanted to.
There are many other possible objections, but there are responses to all of them. In short, it is doable and would be effective.
Conclusion
The bottom line is that it is not true that we are powerless or that there is nothing we can do to prevent fascism from consolidating its hold on the United States.
The option of surrounding the White House and Capitol Hill with millions of peaceful protesters is only one of many options which would turn things around. If we are not implementing such options, it is because we don't really care, or don't want to be bothered, or are not really committed to saving our country. It is not because there is nothing we can do.
The people I talk to, (Family and Friends), know things are bad because we are living it every day. I think this is true also for the, "Honest Thinking", Americans, those of us without a political agenda. When I say political agenda I am referring not only to Federal, but State and Local authorities. The laws that govern us are a paradoxical knot, in as much as that they keep us tied together. We need laws to protect our life, liberty and the pursuit of happiness, however those same laws also inflict the oppression of the polar opposites. Once we figure out how to untie the paradoxical knot we will then be a country of greatness and opportunity.
George - nice vision but you are overly optimistic about the MSM. Fox will be running endless commentaries about commies/maoists disrupting peace and urinating everywhere.
Remember - FOX works for the real owners of this country and they are not American or they have dual citizenship and behave like a Fifth Column.
Ditto CNN and all others.
-1.
You can't know what will happen until you try it. Fuck worrying about what FOX will do and start motivating those around you to motivate others around them.
If the people don't take charge of a solution, then a very unpleasant solution is about to be imposed by the ruling cadres ... and that solution will not be in your interests.
Amen. No more excuses. We are worthy of our birthright or not.
Maybe the pen isnt as mighty as the sword? Doesnt seem to be.
Yet you all want to maintain the status quo.
what the bankers did may be immoral , but not necessarily illegal
- Barack Hussein Obama
Like the smell of that one+100!
Barack Obama and his Banksters, are Immoral,and surely, Illegal!
Karsten Hansen!
Seasmoke
- Barack Hussein Obama
a middle name can say a thousand words..
its a bit like Ben Shalom Bernanke.
and so by implication not necessarily legal either ...
... besides, they bankrolled my campaign.
and my Karma.
Simple 7 step plan - for USA anyway:
1) Reinstate Glass Steagall. Unconsidered in it's 1999 repeal was how useless a rating agency between departments in the same financial organization becomes.
2) Implement a new law to limit a comercial bank to 1 federal reserve district. This will increase the number of banks beyond the ability of a politican, or administrator, from 'dragging them all into the back room to impose their political demands'.
3) Push the trading all security, and deritive products onto OPEN markets! If people could have been shorting those 'secret' MBS's, they never would have grown to balance sheet crushing proportions.
4) Return to trading stocks in fractions. This will dramatically reduce penny chasing HFT programs.
5) Repeal dodd-frank. The list of problems with this bill is longer than both the 2500 pages of it and the, so far, 50,000+ lines of new regulations it has created.
6) Audit the federal reserve and make ALL of their positions and transactions availabler to the public on a DAILY basis. There is also a glaring hole in the current fed policy that is allowing them to monetize government debt that must be closed. The fed must be held to their charter that forbids such a horrible action.
7) While these 6 steps are being implemented, we must improve the overall quality of EVERY financial regulatory agency!
Then, in a year or so, people should be able to see some stability.
Dear Crash2012,
Those are some great ideas. Sound & sane, without requiring a systemic collapse. Now we have to wrestle the politicians away from the banks and get it done. I am as pessimistic as anyone who regularly reads the Zedge, but this looks doable. I applaud your efforts.
Sincerely,
Beef
Good post. I love solutions, not just bitching and complaining.
-1 Step Program -
1) End The Fed
OK, after an audit so everyone will know why it must be ended. So 2 Steps maybe.
A 12 step program would be more appropriate:
My name is Barack - I'm a taxandspendaholic.
My name is Harry - I'm a taxandspendaholic.
My name is Nancy - I'm a taxandspendaholic.
My name is George W. - I'm a spendaholic.
We admitted we were powerless over the NWO and our lives had become unmanageable.
they all follow the goose step program
They'd have to hold that 12-Step meeting at Madison Square Garden -- 3 times a day to accommodate all of them.
The most likely prosecution of this massive fraud perpetrated against the masses will be street justice. The day is near when some scared shitless dude and his freaked out family are running down the street out of their particular palace because an angry mob with pitchforks and torches is gaining ground on them. Saddam Hussein was fortified and protected for only so long.
You're an optimist. That was Hussien's double.
Jon Corzine says, "cut your whining".
Do please tell us what you think a Republican president would do about fraud? Can you outline the steps? We already had the best ad about Mitt RoMONEY: Mitt RoMONEY, Bain and Company: how many American jobs did he send offshore?
I'd like to see the total amount of the bullcrap derivative products created via Phil Gramm and the repeal of Glass-Steagall. Republicans want deregulation; they're too dumb to understand deregulation in the finance sector leads to incxreased risk. Tell me the dollar amount from the bullcrap derivative products. Lay the charge at Phil Gramm's feet. Yeah, I know Bill Clinton signed off on it. He's no longer President, meaning he's either looking for a gigantic eraser or he's laughing his rearend off.
ENOUGH about Romney and Bain.
Private company - yes? NOT a fucking government entity - correct?
Bain could morph 2,000,000 fucking jobs into whatever the fuck they wanted.
Jesus you bought the fucking farm/Obama deflection/liberal shit-eating capitalism is bad song and fucking dance and paid for the sodas while you're at it.
Private companies can do whatever the fuck they want.
"ENOUGH about Romney and Bain.
Private company - yes? NOT a fucking government entity - correct?"
Private compnay yes, but:
From LA Times:
and from this:
Romney Bites the Government Hand that Feeds His FortuneAt that last link there's a pretty long list of Bain companies that received taxpayer subsidies, local, State, and Federal...in other words corporate welfare for Bain.