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    This past Thursday marked the one-year anniversary of the US stock market’s death when stocks saw their last high. Market bulls have spent a year looking like the walking dead. They’ve...

Occupy Wall Street and Occupy the Fed: Two Sides of the Same Coin

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Mon, 10/10/2011 - 06:13 | 1756746 Achaean 5
Achaean 5's picture

The OWS crowd is here to stay.  The dollar will no longer be a safe haven.  If you are a silverbug and you are looking to get more at these levels, don't wait to long. 

Mon, 10/10/2011 - 04:20 | 1756673 dolly madison
dolly madison's picture

I couldn't agree more GW, but it's more too.  It's also about corporations controlling our governments in other ways too like buying off the FDA to not label genetically engineered food, or to keep no limits on additives in food.  Even transfats are still legal, and there is no real reason to have them.  They can easily be replaced with other fats that do not cause disease, but they have long shelf life, and the corporations like that.  It's about the FDA letting out drugs early that kill people.  Three different diabetes drugs from the same class were let out one after the other, and each was withdrawn after many deaths.  It's about the medical corporations taking over medicine in recent years and massively profiteering off of it.  It's about TOO BIG.

Mon, 10/10/2011 - 04:01 | 1756661 bjennings
bjennings's picture

Mr. Washington:

It should probably also be mentioned in your article that along the lines of The Federal Reserve acting as private corporations when it suits them and therefore not subject to these Freedom of Information laws that they are making that argument via their counsel, Mathew Collette -- Justice Department Office of Legal Counsel.

I'm wondering, if I as a citizen or non-government entity was in need of legal counsel, would I be given access to the legal resources of the Justice Department.

Mon, 10/10/2011 - 01:52 | 1756588 OldPhart
OldPhart's picture

Repost of my own reply earlier on another thread

Ok, first we had the TEA Party rising up over a number of individual perceptions. These included the destruction of the Rule of Law by a President and his political party by negating the claims of small, mom and pop, bondholders of Chrysler and General Motors; destruction of the United States Constitution where Congress unilaterally declared that it possessed the right to demand individual American Citizens to purchase a product from a private entity; and that trillions of taxpayer funds were used to benefit political donors in the form of Unions, Banks and Wall Street.


While the origins of the TEA Party were organic, politicians of the Republican Party rushed to place their personal charisma, such as it were, over the mass.  Then they worked to divert goals of the TEA Party into personal channels of power, position, and political ambition.


Many believe that the Republicans were successful.


Now we give rise to another protest, again with a number of individual perceptions.  These include the demand for jobs, education, direct democracy, removing money from politics, ending the Federal Reserve System, raising minimum wage, and a host of other competing themes.


And again we see Politicians, this time Democrats, rushing to place their personal imprint on the movement in an effort to channel demands to meet political ambition.


Many believe that the Democrats will be successful.


My advice:  Avoid Politicians.  They serve their own interests, Republican or Democrat, and their interest is to be reelected.  To be reelected they rely on large, lump sum donors such as Unions, Banks, Wall Street and other Mega-Corporations.  You, as an American citizen, are less than peanuts in the scheme of things.


It would seem there are some common points that shared by both the “Occupy X” and the TEA Party.  Chief of which is that our Congress is bought.  They are merely employees of the Banks, Wall Street and Mega-Corporations. 


No one will get radical solutions from those that are merely employees.  To get relief you have to go to the root; to the ultimate boss.


The root here is our monetary system.  Our monetary system is mathematically designed to extract from the least of the 99% to benefit the 1%.  There are many online articles and videos that make in-depth explanations of the phenomenon.  Suffice to say that, under our current system since 1913, for every $1 produced, $1 + X must be returned.  ‘X’ indicates interest payment.  And if only $10 produced, where does the extra ‘X’ come from?


The Big Boss is the Federal Reserve Bank.  And the Boss should be the target of all activists, left or right, before any meaningful talk of resuming citizen control of our Government can begin. 


Expect vicious resistance against killing the Federal Reserve System. But once that nest of vipers is eliminated all else will work itself out.


Mon, 10/10/2011 - 01:08 | 1756547 OC Money Man
OC Money Man's picture


It would seem a little embarrassing to have to inform the “Occupy Wall Street” movement (OWS) that the corporate icon they are protesting – The New York Stock Exchange – was already sold to the Germans.  But the real motive behind the protests are a spin job on the basic instruction set drilled into young law school students about how to win Courtroom arguments:

            “When the facts are in your favor; pound the facts.  When the law is in your favor; pound  
            the law.  When neither the facts nor the law are in your favor; pound the table.”

The facts are that from 2008 to 2010, the Left controlled the Presidency and a filibuster-proof-Congress for the first time since the 1977 to 1979 days of Jimmy Carter.  The Left used their iron-fisted dominance to pass laws to engage in massive stimulus spending and interventionist restructuring of the American economy.  As a result of these historic actions; our federal debt grew in 3 years by more than during our first 222 years and our credit rating was downgraded; while unemployment rose and is about to go even higher.  With a record like this; it should not come as any surprise that the Left has been reduced to taking to the streets to pound the table.

After gaining control of government, the Left screamed that the economy was facing a depression and needed the type of large government stimulus spending programs enacted by Franklin Delano Roosevelt (FDR) and his filibuster-proof-Congress in 1933.  But after three years in office, FDR’s federal spending only hit 10.2% of GDP; whereas current federal spending is estimated to have risen to 25.3% of GDP.  After three years in office; FDR’s stimulus spending helped reduce unemployment 2.6%; versus the 4.3% rise in unemployment we have suffered over the last three years.  In fact, from 1940 to 2008 unemployment only exceeded 9% for one year; but unemployment has been over 9% for each of the last three years. 

More foreboding, the chart below from Lombard Street Research demonstrates employment trends lag U.S. GDP by approximately 12 months.  Given GDP growth peaked in the 3rd quarter  

of 2010, plus it takes at least 150,000 new jobs per month to keep unemployment from rising due to population growth; unemployment appears to be on the verge of a big jump!   

Furthermore, the most interventionist economic restructuring laws passed by the Left are just now starting to take effect.  The Congressional Budget Office estimates the Patient Protection and Affordability Care Act (Obamacare) will cause 800,000 job losses in healthcare and banks recently announced they will cut another 150,000 jobs due to the Dodd–Frank Act (DONK).

In one of the biggest boomerangs to the Left; their spending and interventionist actions has had the unintended consequence of savaging local tax revenues.  The deteriorating economic situation caused the loss 35,000 state and local jobs last month and 267,000 in the last three years.  Mark Zandi, Chief Economist for the prestigious Moody's credit rating service, estimates that state and local government will lose another 400,000 jobs in the year ahead.    

Self-appointed economic spokesman for the Left, Paul Krugman, summed up his frustration that America has not appreciated the historic spending and economic restructuring he championed:

            “A weary cynicism, a belief that justice will never get served, has taken over much of our  
            political debate — and, yes, I myself have sometimes succumbed. In the process, it has  
            been easy to forget just how outrageous the story of our economic woes really is.”

Krugman clearly intends “fill in the details” to usurp the young Occupy Wall Street protester’s agenda in attempt to regain credibility with the American people for the Left’s failed agenda:

            A better critique of the protests is the absence of specific policy demands. It would
            probably be helpful if protesters could agree on at least a few main policy changes they
            would like to see enacted. But we shouldn’t make too much of the lack of specifics. It’s  
            clear what kinds of things the Occupy Wall Street demonstrators want, and it’s really the
            job of policy intellectuals and politicians to fill in the details.”

The arrogance of the Left’s intellectuals and politicians will not allow them to acknowledge the obvious facts that their initiatives have been abysmally destructive to our nation.  Don’t be surprised if the Occupy Wall Street protests turn violent.  After all; violence is the highest form of pounding the table.

Mon, 10/10/2011 - 03:50 | 1756655 bjennings
bjennings's picture

You shouldn't try to make this thing a left vs. right debate.  I see it more as an us (the people) vs. them (corporations, 1%, other special interests).  The author of this article is trying to bridge the gap for us between what is considered the Tea Party crowd and the Occupy Wall Street crowd -- both essentially wanting the same thing.  I will ignore the Koch Brothers, Sarah Palins, Michelle Bachmans, etc.. in the Tea Party movement if you ignore the Unions, Solidarity verbage, etc.. in the Occupy Wall Street movement.  It seems pretty clear to me right now that the Left would prefer to bankrupt the country in their own special way and the Right is pretty Hell bent on bankrupting the country in their own way and it is to both their advantages to keep us (the people) divided.  I hope this becomes clear to you someday.

Mon, 10/10/2011 - 00:48 | 1756508 Quantum Nucleonics
Quantum Nucleonics's picture

Anyone participating in these occupy wall street events is as Lenin put it, a useful idiot.

Mon, 10/10/2011 - 05:10 | 1756701 BigDuke6
BigDuke6's picture

I'm on holiday out in the boonies, with global roaming costing me a $/min, just checking Zh before i crash and I thought I'd specially log in to say "fuck you maggot"
Its been disappointing to see how many zhers have been dismissive of the protests - I say to them
'you are the sleep walking drone, get off your ass and join em cos this could b ur last chance before they figure how to stop this in the future '

Here in oz we didn't get hit by the gfc but if we had their would have been hell to pay, c'mon ows , run with it all the way

Mon, 10/10/2011 - 05:41 | 1756725 Sathington Willougby
Sathington Willougby's picture

List of demands from occupywallst.org, suck on this.  You think I'm gonig to throw in with a bunch of piece of shit communist party tools with the ultimate pigman Soros trying to pull off an Argentina/Venezuela?  FUCKING FORGET ABOUT IT :

Demand one: Restoration of the living wage. This demand can only be met by ending "Freetrade" by re-imposing trade tariffs on all imported goods entering the American market to level the playing field for domestic family farming and domestic manufacturing as most nations that are dumping cheap products onto the American market have radical wage and environmental regulation advantages. Another policy that must be instituted is raise the minimum wage to twenty dollars an hr.

Demand two: Institute a universal single payer healthcare system. To do this all private insurers must be banned from the healthcare market as their only effect on the health of patients is to take money away from doctors, nurses and hospitals preventing them from doing their jobs and hand that money to wall st. investors.

Demand three: Guaranteed living wage income regardless of employment.

Demand four: Free college education.

Demand five: Begin a fast track process to bring the fossil fuel economy to an end while at the same bringing the alternative energy economy up to energy demand.

Demand six: One trillion dollars in infrastructure (Water, Sewer, Rail, Roads and Bridges and Electrical Grid) spending now.

Demand seven: One trillion dollars in ecological restoration planting forests, reestablishing wetlands and the natural flow of river systems and decommissioning of all of America's nuclear power plants.

Demand eight: Racial and gender equal rights amendment.

Demand nine: Open borders migration. anyone can travel anywhere to work and live.

Demand ten: Bring American elections up to international standards of a paper ballot precinct counted and recounted in front of an independent and party observers system.

Demand eleven: Immediate across the board debt forgiveness for all. Debt forgiveness of sovereign debt, commercial loans, home mortgages, home equity loans, credit card debt, student loans and personal loans now! All debt must be stricken from the "Books." World Bank Loans to all Nations, Bank to Bank Debt and all Bonds and Margin Call Debt in the stock market including all Derivatives or Credit Default Swaps, all 65 trillion dollars of them must also be stricken from the "Books." And I don't mean debt that is in default, I mean all debt on the entire planet period.

Demand twelve: Outlaw all credit reporting agencies.

Demand thirteen: Allow all workers to sign a ballot at any time during a union organizing campaign or at any time that represents their yeah or nay to having a union represent them in collective bargaining or to form a union.

These demands will create so many jobs it will be completely impossible to fill them without an open borders policy.

Mon, 10/10/2011 - 00:31 | 1756474 zombiebank
zombiebank's picture

They should occupy K Street too. That's where a lot of dirty deed doers hang out - the lobbyists. Maybe they should take a few hostage and demand the tax payers get paid back the trillions of dollars the bankers gambled away. Of course they should only accept payment in gold bars.

Sun, 10/09/2011 - 23:50 | 1756391 Yancey Ward
Yancey Ward's picture

The Left isn't interested in getting rid of the Fed.  All they really want is to utilize it's powers solely for political purposes.  The Right isn't really interested either because they are attached at the hips to the financial system and the large corporations.

The OWSers would be appalled at how constrained the Federal Government would be without the Federal Reserve and the TBTF banks.

Mon, 10/10/2011 - 00:01 | 1756413 Bastiat
Bastiat's picture

Many, maybe most would be but not all--they're a diverse group.

Most also want justice--if things aren't fixable they want it even more.

Oops -- just notice you confined your comment to the Left.  You're probably right.


Sun, 10/09/2011 - 23:19 | 1756325 Bastiat
Bastiat's picture
Cain: Move ‘Occupy Wall Street’ to 1600 Pennsylvania Avenue



No, Mr. Cain, the protestors are protesting at the top: they know who's in charge.

Mon, 10/10/2011 - 00:45 | 1756502 derek_vineyard
derek_vineyard's picture

If moved to 1600 Pennsylvania Ave. it will be met with force, disbanded and excluded from the network news.

Sun, 10/09/2011 - 23:38 | 1756365 Seasmoke
Seasmoke's picture

thats correct, why protest the puppets.....protest the puppet masters

Sun, 10/09/2011 - 22:12 | 1756164 vamoose1
vamoose1's picture

i  wonder how  that  filthy baby  faced psychopath dimon  is  sleeping , noises in the yard,   how  blankfeins work  with  god  is  coming  along, it  must  be  a  bit  interesting to be viscerally   hated  by  tens of  millions  of  your  fellow travellers, how  abbie hoffman  would  have  loved  this, movements  can  move  mountains, its  in  fact  the  simple  story  of  history.kent state  awaits, then  it  gets  colorful. 

Sun, 10/09/2011 - 22:09 | 1756156 reader2010
reader2010's picture

The root evil is the Infinite Growth monetary operating system. Until it gets smashed, nothing will be changed. Sorry to disappoint you all but that's the message from the Math Department back in 1972.



Sun, 10/09/2011 - 22:02 | 1756134 blueridgeviews
blueridgeviews's picture

Good point GW if the that were true. I am not concvinced that the OWS people are ticked at the big banks. There hasn't been a unified message. I hear a lot of stupid statements from the ignorant and a couple clear heads that are there for a real reason. Unfortunately the whole thing was organized by another George Soros funded group with Van Jones leading the charge.

Your point about the Fed and the large TBTF banks both need to be reeled in is spot on. The TBTF need to fail and the Fed at the very least needs to be audited by Ron Paul.

Mon, 10/10/2011 - 03:55 | 1756658 buyingsterling
buyingsterling's picture

I see it like this:

We're headed off the cliff, and what is happening is significant by any measure, so we must determine if this thing can be made to help soften the impact. Several things are apparent. First, if it is to make any difference, it will have to find a way to limit its focus to common ground and targets, and produce something compelling that is NOT what is expected. Second, this is now getting enough purchase that some kind of platform will be necessary. A congress of sorts is in order, perhaps using a lottery system based on daily presence - the more days you're there, the more tickets you get in the lottery. Set it for a week from now, at a place where it can be covered by cspan start to finish. Without a platform, the fight (in the minds of many) will remain one of law and order vs useless hippies. If it's done seriously, any finished product will be the object of planet-wide scrutiny. This may be an unprecedented opportunity.

How do we keep it free of self-defeating planks? This could be done by creating a mission statement for the congress, to perhaps include: 1. Our purpose it to find non-coercive ways to reform our broken system. 2. Our purpose is to offer solutions that do not require years of study and bureaucracy-building, solutions that can be adopted by legislation immediately and go into effect immediately. 3. Our purpose is to promote solutions which don't favor one American or group of Americans over another. 4. Members of this congress swear to adhere to these principles, and produce ideas consistent with them.

GW, if there's anything to this please pass it along.


Mon, 10/10/2011 - 00:42 | 1756495 snowball777
snowball777's picture

I knowz it cuz I saw the video on my AM radio.

Sun, 10/09/2011 - 22:16 | 1756117 essence
essence's picture

"The Federal Reserve and the giant banks are part of a single malignant, symbiotic relationship"

Yep George, that about right. Though let's not forget how the owners of these TBTF sit on the boards of the fortune 500 and seek to gin up the Military Industrial Complex and the American KGB (i.e. TSA/Homeland inSecurity) as it's good for profits and serves to keep the serfs in line via false patriotism or intimidation.   

Two very disturbing items I've read recently:

1) several republican members of the super committee have stated the Military budget should be exempt from any cost cutting

2) Homeland Security has approached a university think tank in the UK seeking methods to make  "Identity Management" measures more platable to the masses.

Chilling thoughts, both of them. But hey ... your tax dollars at work.
Let me restate that .. money extorted from you by the criminal Federal Government being used against you.






Sun, 10/09/2011 - 22:33 | 1756214 tickhound
tickhound's picture

"Let me restate that .. money extorted from you by the criminal Federal Government being used against you."

We definitely should keep our eye on that... BUT

..the REAL threat are these little socialist hippies running around trying to destroy the country.  They remind me so much of those teaklanners when they were trying to do the same thing.

Man am I GLAD they have this new suspicious activity hotline.  I heard NewsCorp has something too.  I never thought the real terrorists would be Americans, but THIS IS GETTING OUT OF HAND PEOPLE!


Mon, 10/10/2011 - 01:59 | 1756595 Money 4 Nothing
Money 4 Nothing's picture

Tick turd, let's just say, you ain't seen shit yet, the fat lady is just warming up her voice. This will end up in an Epic fail for everyone BUT, at least you will know where you stand in the NWO afterwards, graveling for food would be my best guess. Fight on your feet brother. This will go viral.  

Mon, 10/10/2011 - 02:36 | 1756614 tickhound
tickhound's picture

u shoulda' kept reading but its my fault... good thing ure adhd isn't viral.


Sun, 10/09/2011 - 22:46 | 1756246 essence
essence's picture


Are you for real, or perhaps some government software meant to distract.
Glad to have a suspicious activity hotline you are? My what a good little minion you are.

The real terrorists (and traitors) are in NewYork and WashingtonDC. Report that to your hotline.



Sun, 10/09/2011 - 22:55 | 1756273 Escapeclaws
Escapeclaws's picture

tin ear for sarcasm?

Sun, 10/09/2011 - 23:02 | 1756288 essence
essence's picture

That's right moron.

If the EU implosion sets off a derivative chain of events that could be a game changer.
As in lose ones job, savings, 401K.

At that point is like Gerald Celente says , once you have nothing left to lose... you lose it.


Sun, 10/09/2011 - 23:52 | 1756400 tickhound
tickhound's picture

yeah I'm not as polished as a few others are with sarcastic twist.  However, I thought is was quite obvious given the wink and all. 

So relax, just some humor given the hilarity in some of these protest threads.

Mon, 10/10/2011 - 00:59 | 1756533 Al Gorerhythm
Al Gorerhythm's picture

Don't quit your day job. That was truely obscure.

Mon, 10/10/2011 - 01:26 | 1756566 tickhound
tickhound's picture

"Don't quit your day job"

Damn, great line.



Little more clear that time?


Sun, 10/09/2011 - 21:48 | 1756091 GottaBKiddn
GottaBKiddn's picture

The right and the left have been wrong all along, and that's why we're where we are today. If people are going to accept their dumbing down, then they will have to be led by other dummies rather than to educate themselves on their own initiative and expense.  Marching in the street, geting your head bashed open, just so you can get your jollies by swearing at ignorant police thugs is not how you educate yourself about  the political and financial realities. I guess it works pretty well for the childish masses though, at least they seem to enjoy it. Rah. Now watch the violence ensue and away go some more of our freedoms. Are we smarter now?

Mon, 10/10/2011 - 04:07 | 1756667 dolly madison
dolly madison's picture

What they are doing at the protests is spreading the word to the propagandized people who depend on TV for their news.  At least some of those signs are getting on TV.

Sun, 10/09/2011 - 21:38 | 1756066 dlmaniac
dlmaniac's picture

Fed / Wall St are just one side of coin. They should occupy D.C. to make it full circle.

Sun, 10/09/2011 - 22:36 | 1756218 Rynak
Rynak's picture

Or rather, to get shot down. Ahem, ZHers, please let me update you on what you're "supposed to do":

- Go to WDC and get gunned down as terrorists, instead of having that annoying "popular public opinion"-shield of opposing bankers

- Don't do anything and just hope that you get to elect RP.

- Disregard the movements - it's just another conspiracy - that is why the MSM and ZH-sockpuppets are mudslinging them at full force.

No, be a good citizen, and shut off your brain.

Mon, 10/10/2011 - 06:23 | 1756755 nmewn
nmewn's picture

Some of the people who were bailed out at taxpayer expense (tenured college professors for example) as the rest of us were thrown under the bus are being listened to by these kids...they are being led astray.



Sun, 10/09/2011 - 21:23 | 1756033 hawks5999
hawks5999's picture


Mon, 10/10/2011 - 00:44 | 1756501 tickhound
tickhound's picture

Um... Words that begin with T, ah, an object, a thing, a thing you're holding, uh.... uh, PASS!

Sun, 10/09/2011 - 21:19 | 1756025 Little John
Little John's picture

When democracy gives way to tyranny those with rifles will still get  to vote.

Mon, 10/10/2011 - 00:39 | 1756493 snowball777
snowball777's picture

A ballots dead
so a bullet's what I get
a thousand years they had tha tools
we should be takin' 'em
fuck tha g-ride
I want the machines that are makin' em

Sun, 10/09/2011 - 21:17 | 1756020 bill1102inf
bill1102inf's picture


Sun, 10/09/2011 - 21:15 | 1756014 Caveman93
Caveman93's picture

Would someone please tell#OWS to move it to K Street and be the wrath to all lobbyists in the land. They needs ta go!

Sun, 10/09/2011 - 21:14 | 1756011 Aeonios
Aeonios's picture
Occupy Wall Street and Occupy the Fed: Two Sides of the Same Coin


Cause all us poor folks down at that damn blog didn't realize that, or anything.

Sun, 10/09/2011 - 21:35 | 1756060 Freddie
Freddie's picture

Occupy The Fed sounds like the real deal.  OWS appears to have a lot of Soros involvement.

Mon, 10/10/2011 - 08:25 | 1756926 New_Meat
New_Meat's picture


"OWS appears to have a lot of Soros involvement."

here ya go (covering all bases), e.g.: on HuffPo, and AJ, and Bill O'Reilly, and the beat goes on.

Occupy Boston is right across from the Boston Fed on the "Rose Kennedy Greenway".  No discernable city permits, thousands of hours of police detail work, free electricity.  Saturday evening had a football-field-long "march" along the waterfront.  Maybe up to 200 "campers" last night.

Get together on the Boston Common today, no permits (as opposed to the TP event that had  them up the wazoo).

- Ned

Sun, 10/09/2011 - 22:28 | 1756204 Rynak
Rynak's picture


Why is your track full of OWS ? Do other topics not interest you so little? :-)


Mon, 10/10/2011 - 06:17 | 1756751 nmewn
nmewn's picture

Because its a topical event?

Mon, 10/10/2011 - 00:34 | 1756479 snowball777
snowball777's picture

He doesn't get paid for 'other'.

Sun, 10/09/2011 - 21:16 | 1756019 Caveman93
Caveman93's picture

Us 99%...we be clueless I guess **Shrugs**. 

Sun, 10/09/2011 - 21:13 | 1756005 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

Can someone please tell me why U.S. citizens bear arms? Do they see them as some sort of trinket to collect, like pokemon cards or old coins?


'Cause i just don't see them being used for their main purpose, so what's the point? If not now, when exactly?

Mon, 10/10/2011 - 03:38 | 1756637 Element
Element's picture


Can someone please tell me why U.S. citizens bear arms? Do they see them as some sort of trinket to collect, like pokemon cards or old coins?

'Cause i just don't see them being used for their main purpose, so what's the point? If not now, when exactly?


Because you get Libya ... times about 30 million ... think it's worth it? ... think a hard core of these thieves and mercs won't effectively fight it out ... and destroy everything? ... think they won't use the full arsenal? ...


That is exactly what the bankster scum want us to do. They want to change the subject, change the targets ... so that it is not THEM.


Edit: Just wanted to add one thing:  You do not destroy your own fucking country, and then throw a party and pretend you were freed by this epic destruction. That is the most backwards possible step ... the one the idiots-with-guns in Libya took. This should of course go without saying, but apparently it doesn't ... and the dip-shits in our respective MSM are all too willing to play to that narrative and it's dumbshit behaviour.

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