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All The Presidents' Bankers: The Hidden Alliances That Drive American Power

Tyler Durden's picture


The following is an excerpt from ALL THE PRESIDENTS’ BANKERS: The Hidden Alliances that Drive American Power by Nomi Prins (on sale April 8, 2014).  Reprinted with permission from Nation Books. Nomi Prins is a former managing director at Goldman Sachs.

NIXON’S BANKERS: When What Was Good for Wall Street Was Good for the President

Wall Street’s War

While the protests against the Vietnam War intensified in the first years of the Nixon administration, the financial elite was fighting its own war—over the future of banking and against Glass-Steagall regulations. National City Bank chairman Walter Wriston was a steadfast warrior in related battles, as he fought with Chase chairman David Rockefeller for supremacy over the US banker community and for dominance over global finance.

Rockefeller’s sights were set on a grander prize, one with worldwide implications: ending the financial cold war. He made his mark in that regard by opening the first US bank in Moscow since the 1920s, and the first in Beijing since the 1949 revolution.

Augmenting their domestic and international expansion plans, both men and their banks prospered from the emerging and extremely lucrative business of recycling petrodollars from the Middle East into third world countries. By acting as the middlemen—capturing oil revenues and transforming them into high-interest-rate loans, to Latin America in particular—bankers accentuated disparities in global wealth. They dumped loans into developing countries and made huge amounts of money in the process. By funneling profits into debts, they caused extreme pain in the debtor nations, especially when the oil-producing nations began to raise their prices. This raised the cost of energy and provoked a wave of inflation that further oppressed these third world nations, the US population, and other economies throughout the world.

Bank Holding Company Battles

When Eisenhower signed the 1956 Bank Holding Company Act banning interstate banking, he left a large loophole as a conciliatory gambit: a gray area as to what big banks could consider “financially-related business,” which fell under their jurisdiction. In practice, that meant that they could find ways to expand their breadth of services while they figured out ways to grow their domestic grab for depositors. On May 26, 1970, the “Big Three” bankers— Wriston and Rockefeller, along with Alden “Tom” Clausen, chairman of Bank America Corporation—appeared before the Senate Banking and Currency Committee to press their case for widening the loophole.

During the proceedings, Wriston led the charge on behalf of his brethren in the crusade. Tall, slim, elegantly dressed, and the most articulate of the three, he dramatically called on Congress to “throw off some of the shackles on banking which inhibit competition in the financial markets.”

The global financial landscape was evolving. Ever since World War II, US bankers hadn’t worried too much about their supremacy being challenged by other international banks, which were still playing catch-up in terms of deposits, loans, and global customers. But by now the international banks had moved beyond postwar reconstructive pain and gained significant ground by trading with Cold War enemies of the United States. They were, in short, cutting into the global market that the US bankers had dominated by extending themselves into areas in which the US bankers were absent for US policy reasons. There was no such thing as “enough” of a market share in this game. As a result, US bankers had to take a longer, harder look at the “shackles” hampering their growth. To remain globally competitive, among other things, bankers sought to shatter post-Depression legislative barriers like Glass-Steagall.

They wielded fear coated in shades of nationalism as a weapon: if US bankers became less competitive, then by extension the United States would become less powerful. The competition argument would remain dominant on Wall Street and in Washington for nearly three decades, until the separation of speculative and commercial banking that had been invoked by the Glass-Steagall Act would be no more.

Wriston deftly equated the expansion of US banking with general US global progress and power. It wasn’t so much that this connection hadn’t occurred to presidents or bankers since World War II; indeed, that was how the political-financial alliances had been operating. But from that point on, the notion was formally and publicly verbalized, and placed on the congressional record. The idea that commercial banks served the country and perpetuated its global identity and strength, rather than the other way around, became a key argument for domestic deregulation—even if, in practice, it was the country that would serve the banks.

The Penn Central Debacle

There was, however, a fly in the ointment. To increase their size, bankers wanted to be able to accumulate more services or branches beneath the holding company umbrella. But a crisis in another industry would give some legislators pause. The Penn Central meltdown, the first financial crisis of Nixon’s presidency, temporarily dampened the ardency of deregulation enthusiasts. The collapse of the largest, most diverse railroad holding company in America was blamed on overzealous bank lending to a plethora of non-railroad-oriented entities under one holding company umbrella. The debacle renewed debate about a stricter bank holding company bill.

Under Wriston’s guidance, National City had spearheaded a fifty-three-bank syndicate to lend $500 million in revolving credit to Penn Central, even when it showed obvious signs of imminent implosion.

Penn Central had been one of the leading US corporations in the 1960s. President Johnson had supported the merger that spawned the conglomerate on behalf of a friend, railroad merger specialist Stuart Saunders, who became chairman. He had done this over the warnings of the Justice Department and despite allegations of antitrust violations called by its competitors. With nary a regulator paying attention, Penn Central had morphed into more than a railroad holding company, encompassing real estate, hotels, pipelines, and theme parks. Meanwhile, highways, cars, and commercial airlines had chipped away at Penn Central’s dominant market position. To try to compensate,
Penn Central had delved into a host of speculative expansions and deals. That strategy was failing fast. By May 1970, Penn Central was feverishly drawing on its credit lines just to scrounge up enough cash to keep going.

The conglomerate demonstrated that holding companies could be mere shell constructions under which other unrelated businesses could exist, much as the 1920s holding companies housed reckless financial ventures under utility firm banners.

Allegations circulated that Rockefeller had launched a five-day selling strategy of Penn Central stock, culminating with the dumping of 134,400 shares on the fifth day, based on insider information he received as one of the firm’s key lenders. He denied the charges.

In a joint effort with the bankers to hide the Penn Central debacle behind a shield of federal bailout loans, the Pentagon stepped in, claiming that assisting Penn Central was a matter of national defense.5 Under the auspices of national security, Washington utilized the Defense Production Act of 1950, a convenient bill passed at the start of the Korean War that enabled the president to force businesses to prioritize national security–related endeavors.

On June 21, 1970, Penn Central filed for bankruptcy, becoming the first major US corporation to go bust since the Depression. Its failure was not an isolated incident by any means. Instead, it was one of a number of major defaults that shook the commercial paper market to its core. (“Commercial paper” is a term for the short-term promissory notes sold by large corporations to raise quick money, backed only by their promise to pay the amount of the note at the end of its term, not by any collateral.) But the agile bankers knew how to capitalize on that turmoil. When companies stopped borrowing in the flailing commercial paper market, they had to turn to major banks like Chase for loans instead. As a result, the worldwide loans of Chase, First National City Bank, and Bank of America surged to $27.7 billion by the end of 1971, more than double the 1969 total of $13 billion.

A year later, the largest US defense company, Lockheed, was facing bankruptcy, as well. Again bankers found a way to come out ahead on the people’s dime. Lockheed’s bankers at Bank of America and Bankers Trust led a syndicate that petitioned the Defense Department for a bailout on similar national security grounds. The CEO, Daniel Haughton, even agreed to step down if an appropriate government loan was provided.

In response, the Nixon administration offered $250 million in emergency loans to Lockheed—in effect, bailing out the banks and the corporation. To explain the bailout at a time when the general economy was struggling, Nixon introduced the Lockheed Emergency Loan Act by stating, “It will have a major impact on the economy of California, and will contribute greatly to the economic strength of the country as a whole.” After the bill was passed, not a single Lockheed executive stepped down.

It would take several years of political-financial debate and more bailouts to sustain Penn Central. One 1975 article labeled the entire episode “The Penn-C Fairy Tale” and condemned the subsequent federal bailout: “While the country is in the worst recession since the depression and unemployment lines grow longer every day, Congress is dumping another third of a billion dollars of your tax payer dollars down the railroad rat hole.” (The incident was prologue: Congress would lavish hundreds of billions of dollars to sustain the biggest banks after the 2008 financial crisis, topped up by trillions of dollars from the Fed and the Treasury Department in the form of loans, bond purchases, and other subsidies.)

More Bank Holding Company Politics

Despite the Penn Central crisis, the revised Bank Holding Company Act decisively passed the Senate on September 16, 1970, by a bipartisan vote of seventy-seven to one. The final version was far more lenient than the one that Texas Democrat John William Wright Patman, chair of the House Committee on Banking and Currency, or even the Nixon administration had originally envisioned. The revised act allowed big banks to retain nonbank units acquired before June 1968. It also gave the Fed greater regulatory authority over bank holding companies, including the power to determine what constituted one. Language was added to enable banks to be considered one-bank holding companies if they, or any of their subsidiaries, held any deposits or extended any commercial loans, thus broadening their scope.

President Nixon signed the bill into law without fanfare on New Year’s Eve 1970. In fact, his inner circle decided against making a splash about it. They didn’t think the public would understand or care. Plus, they realized that there was a prevailing attitude that the Nixon administration had favored the big banks, and though it had, this was not something they wanted to draw attention to.

The End of the Gold Standard

The top six banks controlled 20 percent of the nation’s deposits through one-bank holding companies, but second place in that group wasn’t good enough for Wriston, who noted to the Nixon administration that his bank was really the “caretaker of the aspirations of millions of people” whose money it held. Wriston flooded the New York Fed with proposals for expansion. His applications “were said to represent as many as half of the total of all of the banks.” The Fed was so overwhelmed, it had to enlist First National City Bank to interpret the new law on its behalf.

By mid-1971, the Fed had approved thirteen and rejected seven of Wriston’s applications. His biggest disappointment was the insurance underwriting rejection. The possibility of converting depositors for insurance business had been tantalizing. It would continue to be a hard-fought, ultimately successful battle.

Around the same time, New York governor Nelson Rockefeller (David Rockefeller’s brother) approved legislation permitting banks to set up subsidiaries in each of the state’s nine banking districts. This was a gift for Wriston and David Rockefeller, because it meant their banks could expand within the state. Each subsidiary could open branches through June 1976, when the districts would be eliminated and banks could merge and branch freely.

Several months later, First National City Bank was paying generous prices to purchase the tiniest upstate banks, from which it began extending loans to the riskiest companies and getting hosed in the process; a minor David vs. Goliath revenge of local banks against Wall Street muscle.

By that time, the stock market had turned bearish, and foreign countries were increasingly demanding their paper dollars be converted into gold as they shifted funds out of dollar reserves. Bankers, meanwhile, postured for a dollar devaluation, which would make their cost of funds cheaper and enable them to expand their lending businesses.

They knew that the fastest way to further devalue the dollar was to sever it from gold, and they made their opinions clear to Nixon, taking care to blame the devaluation on external foreign speculation, not their own movement of capital and lending abroad.

The strategy worked. On August 15, 1971, Nixon bashed the “international money speculators” in a televised speech, stating, “Because they thrive on crises they help to create them.”16 He noted that “in recent weeks the speculators have been waging an all-out war on the American dollar.” His words were true in essence, yet they were chosen to exclude the actions of the major US banks, which were also selling the dollar. Foreign central banks had access to US gold through the Bretton Woods rules, and they exercised this access. Exchanging dollars for gold had the effect of decreasing the value of the US dollar relative to that gold. Between January and August 1971, European banks (aided by US banks with European branches) catalyzed a $20 billion gold outflow.

As John Butler wrote in The Golden Revolution, “By July 1971, the US gold reserves had fallen sharply, to under $10 billion, and at the rate things were going, would be exhausted in weeks. [Treasury Secretary John] Connally was tasked with organizing an emergency weekend meeting of Nixon’s various economic and domestic policy advisers. At 2:30 p.m. on August 13, they gathered, in secret, at Camp David to decide how to respond to the incipient run on the dollar.”

Nixon’s solution, pressed by the banking community, was to abandon the gold standard. In his speech the president informed Americans that he had directed Connally to “suspend temporarily the convertibility of the dollar into gold or other reserve assets.” He promised this would “defend the dollar against the speculators.” Because Bretton Woods didn’t allow for dollar devaluation, Nixon effectively ended the accord that had set international currency parameters since World War II, signaling the beginning of the end of the gold standard.

Once the dollar was no longer backed by gold, questions surfaced as to what truly backed it (besides the US military). According to Butler, “The Bretton Woods regime was doomed to fail as it was not compatible with domestic US economic policy objectives which, from the mid-1960s onwards, were increasingly inflationary.”

It wasn’t simply policy that was inflationary. The expansion of debt via the joint efforts of the Treasury Department and the Federal Reserve was greatly augmented by the bankers’ drive to loan more funds against their capital base. That established a debt inflation policy, which took off after the dissolution of Bretton Woods. Without the constraint of keeping gold in reserve to back the dollar, bankers could increase their leverage and speculate more freely, while getting money more easily from the Federal Reserve’s discount window. Abandoning the gold standard and “floating” the dollar was like navigating the waters of global finance without an anchor to slow down the dispersion of money and loans. For the bankers, this made expansion much easier.

Indeed, on September 24, 1971, Chase board director and former Treasury Secretary C. Douglas Dillon (chairman of the Brookings Institution and, from 1972 to 1975, the Rockefeller Foundation) told Connally that “under no circumstances should we ever go back to assuming limited convertibility into gold.” Chase Board chairman David Rockefeller wrote National Security Adviser (and later Secretary of State) Henry Kissinger to recommend “a reevaluation of foreign currencies, a devaluation of the dollar, removal of the U.S. import surcharge and ‘buy America’ credits, and a new international monetary system with greater flexibility . . . and less reliance on gold.”

With the dollar devalued, investors poured money into stocks, fueling a rally from November 1971 led by the “Nifty Fifty,” a group of “respectable” big-cap growth stocks. These were being bought “like greyhounds chasing a mechanical rabbit” by pension funds, insurance companies, and trust funds. The Chicago Board of Trade began trading options on individual stocks in 1973 to increase the avenues for betting; speculators could soon thereafter trade futures on currencies and bonds.

The National Association of Securities Dealers rendered all this trading easier on February 8, 1971, when it launched the NASDAQ. The first computerized quote system enabled market makers to post and transact over-the-counter prices quickly. With the stock market booming again, NASDAQ became a more convenient avenue for Wall Street firms to raise money. Many abandoned their former partnership models whereby the firm’s partners risked their own capital for the firm, in favor of raising capital by selling the public shares. That way, the upside—and the growing risk—would also be diffused and transferred to shareholders. Merrill Lynch was one of the first major investment bank partnerships to go “public” in 1971. Other classic industry leaders quickly followed suit.

Meanwhile, corporations were finding prevailing lower interest rates more attractive. Instead of getting loans from banks, they could fund themselves more cheaply by issuing bonds in the capital markets. This took business away from commercial banks, which were restricted by domestic regulation from acting as issuing agents. But bankers had positioned themselves on both sides of the Atlantic to get around this problem, so they were covered by the shift in their major customers’ financing preferences. While their ability to service corporate demand was dampened at home, overseas it roared. Currency market turmoil also led many countries to the Eurodollar market for credit, where US banks were waiting. Thus, the credit extended through international branches of major US banks tripled to $4.5 billion from 1969 to 1972.

The market rally, cheered on by the media, was enough to bolster Nixon’s fortunes. In the fall of 1972, Nixon was reelected in a landslide on promises to end the Vietnam War with “peace and honor.” Wall Street reaped the benefits of a bull market, and more citizens and companies were sucked into new debt products. The Dow hit a 1970s peak of 1,052 points in January 1973, as Nixon began his second term.


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Sat, 04/05/2014 - 21:09 | 4629103 Ban KKiller
Ban KKiller's picture

Does the book have home addresses? Looks like a great read. 

Sat, 04/05/2014 - 21:12 | 4629108 Arrowflinger
Arrowflinger's picture

Hail to the Thief.

Sat, 04/05/2014 - 21:18 | 4629125 nope-1004
nope-1004's picture

I C 4 pscs of scum.


Sat, 04/05/2014 - 21:23 | 4629132 Terminus C
Terminus C's picture

That really isn't fair to scum everywhere.

These fuckers think they are gods, look at the smirk on Lloyd's face.  That cum slurper thinks he owns the world.

A little shitgum would fix him up right.


Sat, 04/05/2014 - 22:28 | 4629215 Groundhog Day
Groundhog Day's picture

thats the smirk i want on his face as the guillotine comes down....fuckin scumbags

Sat, 04/05/2014 - 23:06 | 4629253 MontgomeryScott
MontgomeryScott's picture

Back some centuries ago (all right, about 10 years or so), I understood that this woman's first name was NAOMI, not 'NOMI'.

Put seven people on an island, all stranded. Each one is assigned a job. One hunts, and one fishes. One cooks, and one washes up. One builds shelters, and one fashions tools to do all these things.

The SEVENTH one (a banker) is given a job as well (as he is unable to perform any other function).

HIS job is to EAT.

How many weeks will pass before the other six realize that the banker is consuming everything that they do, and conspire together to rid themselves of this parasite?



Sat, 04/05/2014 - 23:22 | 4629277 Keyser
Keyser's picture

If I were Nomi Prins, I would be heading somewhere remote, avoid tall buildings and nail guns. Not necessarily in that order.


Sat, 04/05/2014 - 23:59 | 4629313 gmrpeabody
gmrpeabody's picture

Glass-Steagall act..., seventeen lousy pages, is all that stood in their way.

Sun, 04/06/2014 - 01:28 | 4629345 macholatte
macholatte's picture


I started here......


John Mack, the former CEO of Morgan Stanley and one of the more irritatingly unrepentant dickheads of the crisis era,


Ex-Morgan Stanley Chief Jams Foot in Mouth, Complains of CEO Abuse


By Matt Taibbi



...... but after scrolling o the bottome of Tabbi's article I ended up here .....


Sports Illustrated’s 50 Greatest Swimsuit Models



I got confused




Sun, 04/06/2014 - 06:57 | 4629534 negative rates
negative rates's picture

Wished the story had gone on.

Sun, 04/06/2014 - 09:26 | 4629678 markmotive
markmotive's picture

Not just American power. Global power.

The Money Trap - BBC Documentary on how banks control the world via debt

Sun, 04/06/2014 - 14:56 | 4630205 angel_of_joy
angel_of_joy's picture

Best news of the day is to hear that another one of them just decided to "nail" himself... or something like that.

For better effect, they should get together and pull a Jim Jones...

Sun, 04/06/2014 - 06:12 | 4629509 mc225
mc225's picture

glass-steagall was no panacea. banking should be wholly unregulated. anyone should be able to start a bank; float their own currency; backed by anything or nothing at all. why allow only a small number of people to do this?

Sun, 04/06/2014 - 10:45 | 4629743 Kirk2NCC1701
Kirk2NCC1701's picture

Have you actually thought things through, or are you being sarcastic?

Sun, 04/06/2014 - 14:47 | 4630181 hot sauce technician
hot sauce technician's picture

Sir, I gave you that down arrow. Your comment itself would seem to justify the shenanigans of the central banking leviathan. The above poster was simply demonstrating, and correctly, using an apriori argument, the duplicity and dishonesty of today's bankers.

You and I, or any shmoe ftm, have a natural right to distribute legal tender currency without any one party enjoying advantages over the other stemming from a possession of a "monopoly on violence" (as that dingbat Weber put it).

Sun, 04/06/2014 - 11:33 | 4629789 centerline
centerline's picture

And right there is part of the paradox.

It is not the "what" is regarding money.  It never has been.  Even gold is just a token.

It is the "who" that controls it.

Without control, any system is doomed to failure.  But, that sort of control is way too much power and will always corrupt.  At the same time, even the notion of control is flawed in the sense that it has to accept inequality.  That there is no utopia.  And thus we have inescapable moral hazard.  There is no good solution.  Only optimal solutions - and they themselves are only valid for brief periods of time.


Sun, 04/06/2014 - 12:29 | 4629893 RiverRoad
RiverRoad's picture

And we have Sandy Weil to thank for smashing Glass-Steagall.

Sun, 04/06/2014 - 07:15 | 4629546 Jerome Lester H...
Jerome Lester Horwitz's picture

Number seven also sounds comparable to lifelong welfare recipients.

Sat, 04/05/2014 - 23:04 | 4629255 Tabarnaque
Tabarnaque's picture

Great article. On the positive side, 10 years ago, very few people knew and understood these facts. I graduated as an economist and like all my peers, knew absolutely nothing about what money is. Now we are quickly growing in number. The word is spreading quickly, thanks to web sites like Zero Hedge, KWN, Jim Sinclair and so many others. Not to forget excellent videos such as; The Money Masters, Money as Debt and Wake Up Call. Those scum bags are finally being revealed for what they are.

Sun, 04/06/2014 - 07:21 | 4629550 Jerome Lester H...
Jerome Lester Horwitz's picture

As an economist it is imperative to read Pieces Of Eight: The Monetary Powers And Disabilities Of The United States Constitution by Edwin Vieira. It is an expensive book but well worth the cost.

Sun, 04/06/2014 - 10:09 | 4629697 Sean7k
Sean7k's picture

You can get the books from Edwin Vieira. Warning: 1600+ pages in legal language- an overview of our money and banking system as defined by the Constitution and the Supreme Court. $155 dollars well spent.

I would suggest all people need to understand these concepts in America, though not necessarly in this depth of meaning. Great comment.

The two-volume set will cost $149.95 plus $6.50 (shipping & handling), for a total of $156.45 (Virginia residents should add $7.50 for sales tax).

2. By no later than 31 August 2009, each potential subscriber must send
(i) a personal check for $156.45, made payable to “Edwin Vieira, Jr.”, with the notation “book subscription”, and dated 31 August 2009; and
(ii) a self-addressed, stamped envelope to Edwin Vieira, Jr., 52 Stonegate Court, Front Royal, Virginia 22630. 

It is sold on Amazon as well, but for $199.

Sun, 04/06/2014 - 14:55 | 4630201 Offthebeach
Offthebeach's picture

I work construction. I'm talking dirt, lift, nail and pour. At least half the population knows of the Fed Reserve, fiat and feel the union of gov and fiance is corrupt, fundamentally.

(By the way, Hitachi makes the best framing spikegun.)

Mon, 04/07/2014 - 10:28 | 4632104 prains
prains's picture

paslodes new 3-1/2 inch has more power so will penetrate the skull so as to not to be removed easily, has to many plastic parts now trying to be lighter to work with but will travel well in a back pack. needs a good source of compressed air

Sun, 04/06/2014 - 11:39 | 4629806 ImGumbydmmt
ImGumbydmmt's picture

up arrow for s-gum reference to the typo in the ABN amro article!

I think we have a new code word for such events.

"another banker dealt a nasty case of "shitgum"

kinda reminds me of Bernie Bots every flavor beans, ..."Alas, earwax"

Sat, 04/05/2014 - 21:27 | 4629138 LetThemEatRand
LetThemEatRand's picture

"I C 4 pscs of scum."

I hope they all eat their own shitgum.

Sat, 04/05/2014 - 22:07 | 4629180 Drifter
Drifter's picture

Adolescent name-calling like this is too prevalent on ZH, but is the only response the adolescent-minded majority of Americans seem able to make.

Ditto for empty threats of revolt guillotines lampposts etc. Typical adolescent behavior.

No wonder Blankfein is smirking. No wonder bankers think they're gods. They have a nation of children to loot and plunder.

Sat, 04/05/2014 - 22:08 | 4629187 FredFlintstone
FredFlintstone's picture

Let's roll!

Sun, 04/06/2014 - 00:02 | 4629322 gmrpeabody
gmrpeabody's picture

" They have a nation of children to loot and plunder."

New around here, are you?

Sun, 04/06/2014 - 00:59 | 4629377 Colonel Klink
Colonel Klink's picture

Let the guillotines roll!

Sat, 04/05/2014 - 22:17 | 4629201 cynicalskeptic
cynicalskeptic's picture

children grow up.  sheep are always sheep.

Sat, 04/05/2014 - 22:23 | 4629211 nmewn
nmewn's picture

So Drifter, how many bankers have you killed today? ;-)

Sat, 04/05/2014 - 23:04 | 4629256 acetinker
acetinker's picture

nme, maybe yer bein' a bit harsh with the drifter?  Sometimes I wanna take up my AK and kill everyone that seems like a stupid fuck, but then I wonder- what if I'm the stupid fuck?

Sat, 04/05/2014 - 23:39 | 4629298 LetThemEatRand
LetThemEatRand's picture

Blankfein went to his shrink, said "doc, everyone hates me."  Shrink said, "don't be ridiculous.  A lot of people haven't even met you yet."

Sun, 04/06/2014 - 00:00 | 4629318 acetinker
acetinker's picture

Blankfein's shrink would have to be a saint to refrain from puttin' a bullet in his head.  That said, I reckon Lloyd doesn't visit a shrink---- he thinks he's 'normal'.  A normal psychopath, that is.

Sun, 04/06/2014 - 10:05 | 4629709 CH1
CH1's picture

Sometimes I wanna take up my AK and kill everyone that seems like a stupid fuck, but then I wonder- what if I'm the stupid fuck?

Sounds like an old Mencken quote. :)

The solution is simple: Stop obeying and feeding the parasites. Until we do that, why should anything change?

Tue, 04/08/2014 - 21:53 | 4637801 acetinker
acetinker's picture

Some of us are more conflicted than others.  The banksters and their minions feed on that, and there are a shitload of people dependent on the status-quo that steadfastly believe that they are productive, but are not.

From Etienne de la Boetie-


  • Poor, wretched, and stupid peoples, nations determined on your own misfortune and blind to your own good! You let yourselves be deprived before your own eyes of the best part of your revenues; your fields are plundered, your homes robbed, your family heirlooms taken away. You live in such a way that you cannot claim a single thing as your own; and it would seem that you consider yourselves lucky to be loaned your property, your families, and your very lives. All this havoc, this misfortune, this ruin, descends upon you not from alien foes, but from the one enemy whom you yourselves render as powerful as he is, for whom you go bravely to war, for whose greatness you do not refuse to offer your own bodies unto death. He who thus domineers over you has only two eyes, only two hands, only one body, no more than is possessed by the least man among the infinite numbers dwelling in your cities; he has indeed nothing more than the power that you confer upon him to destroy you. Where has he acquired enough eyes to spy upon you, if you do not provide them yourselves? How can he have so many arms to beat you with, if he does not borrow them from you? The feet that trample down your cities, where does he get them if they are not your own? How does he have any power over you except through you? How would he dare assail you if he had no cooperation from you? What could he do to you if you yourselves did not connive with the thief who plunders you, if you were not accomplices of the murderer who kills you, if you were not traitors to yourselves? You sow your crops in order that he may ravage them, you install and furnish your homes to give him goods to pillage; you rear your daughters that he may gratify his lust; you bring up your children in order that he may confer upon them the greatest privilege he knows — to be led into his battles, to be delivered to butchery, to be made the servants of his greed and the instruments of his vengeance; you yield your bodies unto hard labor in order that he may indulge in his delights and wallow in his filthy pleasures; you weaken yourselves in order to make him the stronger and the mightier to hold you in check. From all these indignities, such as the very beasts of the field would not endure, you can deliver yourselves if you try, not by taking action, but merely by willing to be free. Resolve to serve no more, and you are at once freed. I do not ask that you place hands upon the tyrant to topple him over, but simply that you support him no longer; then you will behold him, like a great Colossus whose pedestal has been pulled away, fall of his own weight and break in pieces.
Sat, 04/05/2014 - 22:47 | 4629246 nope-1004
nope-1004's picture

The gov't, IRS, CIA, and Justice Dept are all complicit in the fraud Drifter.  I don't see any name calling, other than outright disgust by the average working American.  Banks are the scum that runs the earth right now.  They are satanic cults where white collar crime, narcotics trading, money laundering, and account theft happen every fucking day.  The fact that you cry that you see people pissed but not at the fact that we're all being systematically stolen from every hour of every day is just plain ignorance on your part.


Sat, 04/05/2014 - 23:24 | 4629280 MontgomeryScott
MontgomeryScott's picture

Hey, nope,

Don't even bother.

This one is too far gone to understand. It is probably 'controlled opposition' from D.C. or NYC or Haifa.

Sat, 04/05/2014 - 23:12 | 4629260 acetinker
acetinker's picture

I didn't vote you one way or the other, but I'm pretty fkn sure you can't reform a system as ingrained as ours.  The only thing you can do is to resolve yourself to withdraw support from the parasite.  When, not if, this happens (it's inevitable, and utterly chaotic), we can have a beautiful world, again.

Sat, 04/05/2014 - 23:22 | 4629267 MontgomeryScott
MontgomeryScott's picture

The sleeper IS awakening, 'Drifter'.

If I was YOU, I'd be getting scared shitless about now. Your shit talking, and bullshit psychoanalizing lies don't have any effect, any more.

Keep trying, though. PUT the target on your head. KEEP ON your course.

WE do not forget. WE have seen, and remember who states what; about WHAT. WE are watching the game, and are armed to the fucking TEETH.

YOU pre-suppose thet WE do not have self-control. YOU are sadly mistaken. YOU, in fact, are the adolescent. YOUR fits of whining and puling are akin to nappy-wearing infants who cry out in fear and trembling when mommy State isn't showing her teat to you, as you shit your diaper and whine louder; realizing that you wholly STINK of the FECES that your corporate body produces.

TELL YOUR HANDLER of this. IT is a simpleton with a 'rank' within the machine that you serve, as well, and IT isn't any smarter than YOU.

Was THIS 'too adolescent' for you, boi?




Sun, 04/06/2014 - 08:18 | 4629335 Drifter
Drifter's picture

"WE are watching the game, and are armed to the fucking TEETH."

And that's far as you'll ever go, just armed.

Amazing isn't it. So many weapons, so many (empty) threats, and that's all.

America will be the first communist nation with 400 million privately owned guns.

We're almost there now.

Btw thanks for the downvotes, confirmation I'm touching some nerves out there.

Sun, 04/06/2014 - 09:30 | 4629680 XitSam
XitSam's picture

They're going to be sad when they find out.

Sun, 04/06/2014 - 09:32 | 4629683 Keyser
Keyser's picture

Don't pat yourself on the back too soon, counter-intuitive posts usually receive down votes around here. It is evident that you are one that will not be prepared if the SHTF, whereas others around here know and fear the future because there is only one outcome to our current path. So keep on, keeping on with you grande low-fat mochachino, kids soccer practice and racking up debt on the old CC. It's the American way after all. 

Sun, 04/06/2014 - 11:45 | 4629814 centerline
centerline's picture

I like how you are shaking it up here.

Let me counter differently though.

Your suggestions here assume a level of control that simply is not going to be possible.  What is more likely is a Soviet-style break up of the United States along with disintegration of the EU.  Straight from our faux-democracy (that was supposed to be a republic anyhow) to a disaster with who knows what in terms of governance and border controls  (YMMV depending on location).

The temporary alternative is war of course - but still leads to the same outcome anyhow since so much of the promises that have been made cannot be met anyhow and the free shit army will burn the place down in most areas when the support fails (or fails to be enough).

What will happen along the way is some sort of battle between the banker class, political class, MIC and NSA/CIA/etc.  We may already be witnessing this with the string the banker deaths.  Perhaps got a little whiff with the whole Pelosi "don't spy on me, spy on them" comedy.  Etc.

Sun, 04/06/2014 - 07:56 | 4629585 WhiteWolf
WhiteWolf's picture

The only handle we need is on a carbine with a scope.  FU

Sun, 04/06/2014 - 15:59 | 4630346 sgt_doom
sgt_doom's picture

Begin locally:  look in LinkedIn for anyone self-described as a BPO or Offshore Specialist (BPO stands for Business Process Offshore, same as jobs offshoring specialist) then let the hunt begin.

Sat, 04/05/2014 - 23:48 | 4629281 LetThemEatRand
LetThemEatRand's picture

Drifter -- I'll bet you're a lot of fun at parties.  

The people are waking up.  ZH is catching on and even gets an occasional Drudge link.  Books like this one are starting to be widely read.  Former insider guys like Paul Craig Roberts and David Stockman are starting to go balls deep talking about the corruption and intellectual dishonesty of both Teams.  Most importantly, some high level banker scum are starting to off themselves.   These guys only do that when they think something really bad is going to happen to them.   It's a party.  Let your hair down and stay a while.  

Sun, 04/06/2014 - 11:48 | 4629818 centerline
centerline's picture

LTER, see my post above.  I just wonder if we what we are seeing is some heat coming externally instead of internally regarding the recent string of banker deaths.  Something just stinks here.

Sat, 04/05/2014 - 23:40 | 4629300 acetinker
acetinker's picture

Whoa!  So the banksters are laughing at us?  They should.  Lots of 'traders' here on ZH.  They decry the system they daily support, but don't have the common sense to realize that they are the very ones who habitually populate, and support it.

Cog Dis is aware of this, I'm sure.  He could articulate this much better than me.

Sun, 04/06/2014 - 04:55 | 4629480 Philalethian
Philalethian's picture


Another point blank winner here, folks!

The crew is cooking on this thread.

As a historian of the rise and fall of the American dream, it is heartening to be a witness to so many finely tuned in commenteers. You all rock, and we must all remember the Law of One. We are afterall, all One. One in the fact that the human body is made up of the four basic elements of this planet, and two, the spiritual beings we all are is the fifth element that animates that pile of air, water, fire, and earth.

All energy is one energy. All souls are energy. The karmic-swan is around the corner and when these clown farts of hell fire the first shots, the games will begin. Nothing will matter anymoar. Mere survival and something to eat will be the mainstays of the new post war days if this is not all stopped RIGHT NOW. Who wants to live carelessly and have only one desire to find those responsible for the mayhem, and then to dig them out of their holes to burn and tar.

No moar Polly wanna cracker clown shows, or warmongers pulling off False Flag Events for moar woar and profits to gain from. No mas, period!

Sun, 04/06/2014 - 07:52 | 4629578 FredFlintstone
FredFlintstone's picture

Yep, you had a handful of ex-hippies protesting Bush's war in Iraq. This time you will have tens of millions of solid, upright citizens pissed as hell if Obama (or Hillary or whoever comes next) tries any shit like that say in Syria, Ukraine, or Iran. When the air leaves the sails of this fragile economy and a leg gets kicked out from under this bullshit propped up market, TPTB better hunker down, run for cover, or take their private jets to their private islands.

Millions know we are being ass fucked now and tens of millions of our slower counterparts will soon when the SHTF.

Banks and the MIC are taking turns humping our collective asses, while the good old NSA is keeping a lookout and helping to hold us down. Politicians are complicit. I think the biggest mistake TPTB made was to put someone in office who is so foreign and offensive to the rank and file American. Someone we cannot relate to and consequently cannot trust. Mr. Hope and Change who wanted to get all hostile with Syria. That left a lot of young people who either voted for him or were sympathetic to him shaking their heads, They could start to see behind the curtain.

The Executive branch is currently a bunch of power drunk thugs that have no respect for the country, citizens or laws.

Have a good day!

Sun, 04/06/2014 - 23:07 | 4631265 acetinker
acetinker's picture

O' brother, where art thou?  The rabbit hole is actually more like a mobius strip and we keep popping up, discovering each other, only to disappear down another rabbit hole.

There will  be WWIII.  History demands it.  The bankers want their crimes hidden, and there's no better way to deflect attention from their crimes than worldwide chaos.

I wish it weren't so, but I wouldn't bet one dollar against me.

Sun, 04/06/2014 - 08:27 | 4629591 Drifter
Drifter's picture

"Lots of 'traders' here on ZH. They decry the system they daily support"

Yes hypocrisy is thick here, people with bank and brokerage accounts supporting bankers they claim to hate, deeply in a system they tell others to get out of.

Just having a job is deep in the system when part of your pay is handed to IRS before you get the rest. IRS is agent of Fed bankers not US govt.

In the system isn't the problem. It's pretty difficult to not be in the system.

Hating bankers is the problem. They simply do what govt allows them to do, as most everyone here would do if they were in that privileged position.

Hating bankers doesn't change anything except raise your blood pressure. Hating corrupt politicians doesn't change anything. Ask political prisoners in American prisons and Russian gulags.

Adolescent name-calling doesn't change anything. It just shows how adolescent your mentality is.

Founders didn't spew hate all over the internet, or newspapers back then. They had little to say publicly. They channeled their fury in productive ways, planning how to end the tyranny.

And they did first things first, gather together representatives from the colonies and draw up a public declaration of intent, a legal requirement so-called "patriots" overlook today.

But then adolescents wouldn't know such legal matters, spending their time spewing hate all over the internet (and cleaning guns for a fight that won't ever come).

P.S. All you "patriots" please take your fake patriot sabre rattling over to FreeRepublic, a site claiming to be leading the fight for freedom in America, when they haven't done one single thing. Just another bunch of adolescent name-callers spewing hate on the internet.

Sun, 04/06/2014 - 08:29 | 4629609 GetZeeGold
GetZeeGold's picture



Anything else? 


Just checking.

Sun, 04/06/2014 - 14:16 | 4630125 Drifter
Drifter's picture

Nope, that's it for now, class dismissed :)

Sun, 04/06/2014 - 08:41 | 4629620 FredFlintstone
FredFlintstone's picture

Why don't you shine a light on the path you propose? Drawing up a declaration of intent? Then what?

Or maybe you just want us all to shut up and play along for a couple more decades? Are you an enlightened leader type or a troll?

Sun, 04/06/2014 - 09:58 | 4629660 Drifter
Drifter's picture

See folks, he doesn't have a clue.

Nor do most of you.

Just go back to trading your stocks and options and such (on those banker exchanges). Be good compliant sheep ...and drop the fake bravado.

Btw, hypocrisy destroys you from the inside out. Not healthy.

Sun, 04/06/2014 - 10:15 | 4629712 FredFlintstone
FredFlintstone's picture

I don't claim to have a clue, that is whay I am here (to learn). I have been a corporatate slave my whole life. My guess is that you are clueless too, which is why you haven't answered my question.

Mon, 04/07/2014 - 00:02 | 4631300 acetinker
acetinker's picture

Drifter, you probably don't give a fuck about the junks.  Nor do I.  Here's the thing, and this is no lie-

Be nice.  I know I'm not always nice but *shut the fuck up little voice on my shoulder* but you don't attract bees with vinegar.

Nme is not a bad guy, nor is Fred, and I don't know why they don't want to help you- guess you struck them wrong.

The stuff I've read from you is painfully correct.  Most people will hate you for that.  Such is life- Welcome.

Sun, 04/06/2014 - 09:09 | 4629656 nmewn
nmewn's picture

"Founders didn't spew hate all over the internet, or newspapers back then. They had little to say publicly. They channeled their fury in productive ways, planning how to end the tyranny."

Well, actually, they did. They just didn't sign their real names to it out of an abundance of caution that the kings troops not pay them a visit. And anonymity is a highly prized right (and tool) of the free man, it is why the founders placed freedom of the press (away from governmental & religious editors) into our Bill of Rights, that is to say, the Peoples document.

Thomas Paine, for example, wrote Common Sense anonymously:

And Jefferson later after a successful revolution on the banks:

"And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale." - letter to John Taylor in 1816

"Bank-paper must be suppressed, and the circulating medium must be restored to the nation to whom it belongs." - to Eppes

But yes, you're right, they were definitely planning something and thats not my red.

Sun, 04/06/2014 - 09:45 | 4629677 Drifter
Drifter's picture

"Common Sense" showed way more intelligence than "scum sucking banker bastards" (which sounds sorta redneck actually).

And yes they were doing something beyond that. Not long after "Common Sense" came "Declaration of Independence".

Compare that with "roll the guillotines" and similar fake bravado bullshit.

Yep, no wonder Blankfein is smirking.

Sun, 04/06/2014 - 09:50 | 4629695 nmewn
nmewn's picture


Well, maybe its just shorthand (not really redneck at all) for something like this:

"SOME writers have so confounded society with government, as to leave little or no distinction between them; whereas they are not only different, but have different origins. Society is produced by our wants, and government by our wickedness; the former promotes our happiness POSITIVELY by uniting our affections, the latter NEGATIVELY by restraining our vices. The one encourages intercourse, the other creates distinctions. The first is a patron, the last a punisher.

Society in every state is a blessing, but Government, even in its best state, is but a necessary evil; in its worst state an intolerable one: for when we suffer, or are exposed to the same miseries BY A GOVERNMENT, which we might expect in a country WITHOUT GOVERNMENT, our calamity is heightened by reflecting that we furnish the means by which we suffer."

Sun, 04/06/2014 - 09:34 | 4629685 Keyser
Keyser's picture

Perhaps YOU should wander back over to HuffPo because the general population on ZH is like minded. It appears you are the odd one out. 

Sun, 04/06/2014 - 21:17 | 4631080 Stares straight...
Stares straight ahead's picture

Well, while you wait for the violent revolution you can try this:

Sun, 04/06/2014 - 08:26 | 4629608 Oldwood
Oldwood's picture

They see us as children. They want us to respond as children, on one hand completely dependent on them, or alternatively if we fail to adopt, with seemingly irrational violence. Both actions serve their cause, and given our circumstance both seem perfectly sensible. The reality is that our freedom depends on our non-participation. No dependence and no violence, simply make them as irrelevant as possible in our lives. I know it is hard. I know it has some severe costs, but short of trench warfare, it is our only real option.

Sun, 04/06/2014 - 09:58 | 4629704 Sean7k
Sean7k's picture

Nicely said Drifter. It is easy to curse and fantasize when the real work of withdrawing from the system requires true sacrifice. Heck, if you get enough people worked up, they just might spend enough of their energy to never challenge a single banker ever...and they get to sound real tough too.

Sun, 04/06/2014 - 12:48 | 4629942 robobbob
robobbob's picture

there comes a time when all the sophisticated rhetoic, the erudite soliloquy, and all the trappings of enlightened education become nothing more then the props and sleight of hand of liars, con men, theives and the instigators of genocide.

compromise will not work. negotiation will not work. there is no mutual benefit to arrive at.

Utlimately, at the end of the rope, the tip of the spear, the shattering blast, there is no glory, no insightful remark, and no transcending moment. it is what it is, and plain simple language is the most appropriate means of communicating it.

Sun, 04/06/2014 - 15:06 | 4630228 Offthebeach
Offthebeach's picture

Complaints against the British Crown took off 70 years before the American Revolution. Slavery agitation, for and against, existed at the Revolution, 90 years before the Civil War. Russian Communist agitation was near 50 years until the revolt.

So, you have to shape the national soul somewhere. When I was a kid it was punk trustfunders in Mao hats. Now. Its everywhere, everyclass. Not even the FSA will fight for the existing Ancient Regime, save a thin hard corps of mouth breating knuckle draggers.

Sat, 04/05/2014 - 21:14 | 4629115 Timmay
Timmay's picture

And so the Fed "buys" $55 Billion in "Assets" each month with money that came from where? Or perhaps I should ask from WHEN? So buying real things with printed up things, great gig if you can get it.

Credit is fucking up this country at light speed. Shuffle paper and call it work, Borrow from the future and call it growth today.

The banks are a plague upon this earth.

Sat, 04/05/2014 - 22:34 | 4629228 nope-1004
nope-1004's picture


Sat, 04/05/2014 - 23:29 | 4629284 MontgomeryScott
MontgomeryScott's picture

Clarke and Dawe discuss 'Quantitative Easing':

This should answer Timmah's question as well.

Sun, 04/06/2014 - 09:16 | 4629662 NoClueSneaker
NoClueSneaker's picture

Next bailout comes through the planetary fiat from IMF. Quadrillions of SDR will be given to globalized Squids. Six BNs of Muppets will be forced to tap their "Organs Equity" due to continue their rehypotecated lives ....

250 yars old sociopaths will enjoy an improvement in maintenance

of their containers. Bullish for FrankensteinMed Inc.


Sat, 04/05/2014 - 21:14 | 4629116 cifo
cifo's picture

It's going to be a bestseller and hopefully a wake up call.

In any case, nice photo. The left hand in the pocket exudes (over)confidence, if not arrogance.

Sun, 04/06/2014 - 11:21 | 4629776 Pinche Caballero
Pinche Caballero's picture

... or fingers crossed.

Sun, 04/06/2014 - 08:36 | 4629614 NoClueSneaker
NoClueSneaker's picture

Try "The Nation" or "Daily Beast". Nomi Prince ist columnist in both of them .

Sun, 04/06/2014 - 12:16 | 4629865 Mr Giggles
Mr Giggles's picture

All suit is theif.

Boris I think ?

Sun, 04/06/2014 - 16:04 | 4630355 sgt_doom
sgt_doom's picture

Looks like a great read!

And in the same vein, always please recall that the oldest and longest continuing corporation in the Western Hemisphere is not coincidentally involved and located and behind the global speculation capital, London:

The City of London Corporation

Sun, 04/06/2014 - 20:17 | 4630942 Jumbotron
Jumbotron's picture

Son....of....a.....BITCH !!!

Wow....all these years.  I remember in my Citizenship class....(that's right....a seperate class apart from History) at this private school I attended from 1st grade to 12th, we held a mock presidential election.  I remember being somewhat much as a second grader could be....on the major points that Nixon and McGovern were running on.

I remember voting for Nixon because he was more law and order.....and conservative.  I understood the first....the other was more my father's beliefs so I sided with him....not really knowing what Conservative really meant but if Nixon was like my father then that was ok by me.

Even though it was obviously meaningless.....that vote still haunts me.  Now, after readinng just this excerpt, I see once again, why I am justified in having dropped out of the voting system since my last disasterous vote of George The Retard in 2000. 

From Alexander Hamilton pushing for a Central Bank in order for America to be an unconquerable empire, to the formation of the Federal Reserve in order for fat cats like J.P, Morgan never to have to put up personal funds to bail out America.....just put that on the citizens backs....but allow the banks to reap the Nixon trying to save America from collapse and dishonor only to once again give even more power to the banksters just to save his political the destruction of Glass the mess we have now in MBS's, CDO's and HFT.

This is a 200 year + coup by the bankers and they have won.


Sat, 04/05/2014 - 21:11 | 4629106 Seize Mars
Seize Mars's picture

Well good points here but the same exact data points were in G Edward Griffin's "Creature from Jekyll Island." The Penn Central bailout and so on.

I would read Jekyll if you haven't already if you want to know what happened, and what's about to happen.

Sat, 04/05/2014 - 23:38 | 4629294 MontgomeryScott
MontgomeryScott's picture

Naomi Prinz is an acolite (a student, as it were) of G.E. Griffin, as far as I have seen.

Who duh fuck is 'NOMI', though?

People don't read any more, so perhaps this video might give them some entertainment.


Sun, 04/06/2014 - 16:05 | 4630358 sgt_doom
sgt_doom's picture

That's Nomi Prins, douchey!

Sat, 04/05/2014 - 21:11 | 4629107 Arrowflinger
Arrowflinger's picture

Banking deserves a 21 nail gun salute.

Sat, 04/05/2014 - 21:30 | 4629140 LetThemEatRand
LetThemEatRand's picture

Long bridges, tall buildings, and shitgums.

Sat, 04/05/2014 - 22:39 | 4629234 RafterManFMJ
RafterManFMJ's picture

I been in West Virginia mountain country and most folk, men and even women, had shitgums.

Sun, 04/06/2014 - 11:09 | 4629765 waterwitch
waterwitch's picture

...and polonium, rope, and guillotines.

Sat, 04/05/2014 - 21:16 | 4629119 CrashisOptimistic
CrashisOptimistic's picture

It Doesn't Fucking Matter.

If you have oil, the only thing that DOES matter, you should not be trading it for this stuff.  That includes gold.  It doesn't matter.

Trade oil for finished goods or better, storable calories.  If the Saudis and Russia both did this, all the insanity would end.

Sat, 04/05/2014 - 21:16 | 4629120 Yen Cross
Yen Cross's picture

  Top  six banks, proposals, currency parameters, Chicago Board of trade, Credit extended.

  Sleep well my little liberal "purple junksters".

Sat, 04/05/2014 - 21:36 | 4629145 Angus McHugepenis
Angus McHugepenis's picture

Yen my friend. No junk for you from me. Always +1

I can't help thinking that if I dressed like a bankster and tried walking down a REAL street I would immediately be pummled about the head and neck just for looking like I had rehypothecated the suit I was wearing.

Dead bankster... it's what's for dinner.

Sat, 04/05/2014 - 21:38 | 4629147 LetThemEatRand
LetThemEatRand's picture

The other white meat.

Sat, 04/05/2014 - 22:16 | 4629200 Angus McHugepenis
Angus McHugepenis's picture

Rand: Or dark meat. Depends how you like your Turkey. Good to see you around. As Boris would say, I be sick like dog for a while with nasty communist viral inflections. Good thing I have email address of Manipuflation so I can transmit my disease via Al Gore intertubes to that crazy fucker.

Keep your stick on the ice, your head up. Use duct tape for bandages.


Sun, 04/06/2014 - 08:50 | 4629630 NoClueSneaker
NoClueSneaker's picture

Hm, dual use. Harvest of 1943 was a record one in WWII . Reich used organic fertilizer - treating the human bones from very profitable concentration camps ans silesian mining sites with carbonic acid .

 Achievement of that economy was supervised by the BIS. COO Alan Dulles was proud of his bussiness partners.

  So let's switch from Monsanto to Organic Bankster Fertilizer.

(  Traces of politicians manure possible ).


Sat, 04/05/2014 - 21:47 | 4629155 NoDebt
NoDebt's picture

"Sleep well my little liberal "purple junksters"."

Two suggestions from my modest time here:

1.  Don't count your down-arrows.  A little trick I learned from the BLS.

2.  Care for and nurture your loyal down-voters.  They're your most loyal readers!

If you're not getting down-votes, you're not trying hard enough.  Be well.

Sat, 04/05/2014 - 23:48 | 4629306 MontgomeryScott
MontgomeryScott's picture

SO, should I give you an up-vote for your comment that I agree with, or down-vote you (so that you will continue to let me see the Bostich nail-gun avatar, and keep reminding me of the suicidal ways of bankers who are about to come clean)?



(I upvoted your post, in case you are interested. I don't give a shit what others think about me, as I am quite secure in my beliefs; which seem to align with the majority of opinions of those who, under other circumstances, would be happy to agree with me in expressing the same).

Like water off a duck's back, I shall keep on in my course of enlightenment. How about YOU?

Do I have a lot of 'downvotes'? Is it because I'm BLACK? (no, I'm not, but I had to ask, as taught by Jesse Jackson)

Sun, 04/06/2014 - 07:46 | 4629572 newdoobie
newdoobie's picture

I agreed with your post so much I immediately gave you the big purple shaft.

Sat, 04/05/2014 - 21:17 | 4629121 noob
noob's picture

Bloodsucking parasite fucks!

Sat, 04/05/2014 - 21:17 | 4629122 Sinnedi
Sinnedi's picture


CFR is your best friend and get rid of the secret societies

Sat, 04/05/2014 - 21:22 | 4629130 Terminus C
Terminus C's picture

Hmmm, sounds just like today.  Seems that nothing changes in the banking world.  The oligarchs will fuck their grandmothers/grandchildren for a quick buck and ego.

Hubris and greed... same as it ever was.

Sat, 04/05/2014 - 21:34 | 4629143 LetThemEatRand
LetThemEatRand's picture

Photo caption:  "I swear to tell lies, big lies, and nothing but the lies.  So help me doing God's work."


Sat, 04/05/2014 - 21:43 | 4629153 nmewn
nmewn's picture

The small print on the bottom of the Community Reinvestment Act, the Financial Services Modernization Act, the Affordable Care Act or the Dodd–Frank Wall Street Reform and Consumer Protection Act? ;-)

Sat, 04/05/2014 - 23:37 | 4629293 disabledvet
disabledvet's picture

"40 acres and mule" by another name.

Promises, promises, promises. "And the only delivery comes from the taxpayer." All to keep pricey real estate...pricey.

REIT's are still the best performers YTD...not gold. The fact that the Federal Government is now all in on REIT conversions of ordinary businesses (very favorable tax treatment) says to me "State and Local Governments beware."

I doubt they are listening.

Sat, 04/05/2014 - 21:37 | 4629146 km4
km4's picture

terrific and factual expose !

Sat, 04/05/2014 - 22:32 | 4629226 Drifter
Drifter's picture

Knowing the truth about corruption doesn't change anything except raise your blood pressure.

Evil flourishes when good men doing nothing.

Good men have done nothing so long now it's beyond saving. It's hopeless.

Sun, 04/06/2014 - 00:23 | 4629321 MontgomeryScott
MontgomeryScott's picture



Roll over. Take it. take it again. PAY ATTENTION to other things. YOU cannot do anything.

You are POWERLESS to save yourself or any other ones.

Give up.

YOU are a FLUKE of the UNIVERSE.

YOU are CRAZY if you even try to prepare.


YOU are not going to HELP if you TELL others. THEY are not going to respond. GIVE UP ALL HOPE, ALL THOSE WHO TRY.

(no, not 'sarc', just the ironic truth as stated in response to the posting above)



Here's a song for you, personally.


Post script:

'Deteriorata': This CIA cointelpro psyop song was released in response to the Kissinger OPEC/French gold repatriation response con-job that Nixon bought in to, and in opposition to the will of the response of the American people, in 1972.



Sat, 04/05/2014 - 21:46 | 4629156 Yen Cross
Yen Cross's picture

 Angus and Rand  are honest people.  You gentlemen exist, and I would give both of you the shirt off my back.

  Telling the truth was never easy!

Sat, 04/05/2014 - 21:47 | 4629159 Latitude25
Latitude25's picture

Back in 2008 amid calls for bringing back Glass-Steagall the banker argument (lie) was that the law was too old and that we need more modern regulation.  Now we're totally screwed with "modern" regulation (corruption).  String the bankers up.

Sat, 04/05/2014 - 22:01 | 4629176 nmewn
nmewn's picture

Seems the same thing was said under Rubinomics Guidelines, recessions are a thing of the past!, we were told...we're now so technologically advanced that a Service Economy is whats called for going Forward!

Repeal it!!!

Well, here we are ;-)

Sat, 04/05/2014 - 23:17 | 4629268 Miffed Microbio...
Miffed Microbiologist's picture

Recessions are a thing of the past nmewn. Problem for you is you still see 4 fingers.

Look at my hand, Winston. Right now, you see indeed four fingers held up to you. But as you can see (O'Brien uncovers his thumb, showing all five fingers), I have in fact five fingers. That is the essence of the Party, Winston: you think you know the truth by seeing things with your senses, but as you can see, your senses can disappoint you. The Party knows everything, is everything: the Party knows that there are five fingers here, even if you only see four of them. The Party knows the truth that you cannot see from the place you are standing at, because you are weak alone. The Party is strong and omniscient, and therefore if the Party says that two and two equals three, or five, it will always be right: you, by yourself, cannot know the truth.


Sat, 04/05/2014 - 21:59 | 4629172 starman
starman's picture

hangem high!

Sun, 04/06/2014 - 00:44 | 4629369 MontgomeryScott
MontgomeryScott's picture

A little Van Halen is called for. The album is named 'Diver Down'. Last song, second side, I think. (I could be wrong, though. It might be the second song on the first side.)

Hang 'Em High:

Yeah, I was wrong. It was the second song on the first side.

Hey, I'm not talking about LOVE, here.

I've been to the edge. You know; I stood and looked down. I've lost a lot of friends there.

Most of them are running with the devil, now.

They asked me, and cajoled me. They BEGGED me to go along with their stuff. They saw ME as one of the 'illuminated ones'. They tried to THREATEN me. I fucking told them to FUCK OFF, because they were the totality of the realization of fucking EVIL; the HELL on EARTH.

( NO, NOT 'VAN HALEN', readers! 'Van Halen' was merely a VEHICLE; an 'AVATAR' of that which they promised.)

THEY really HATE IT when I use their song-scripts against them.







Sat, 04/05/2014 - 22:10 | 4629189 Atomizer
Atomizer's picture

All of the children are pitting against who will sit on the global seats.

Sat, 04/05/2014 - 22:22 | 4629210 Goldilocks
Goldilocks's picture

Melissa Etheridge - Bring Me Some Water (4:03)

Melissa Etheridge - Like The Way I Do (4:14)

Sun, 04/06/2014 - 01:12 | 4629383 MontgomeryScott
MontgomeryScott's picture

I didn't realize that Etheridge remade Eddie Money's original song, blondie.

Ether Ridge. Is that the point at which one tumbles over the Ridge, falling, as one is too drunk with the Ether to know what is transpiring in real time?


No sugar tonight!

Eddie's drunk on Money, and Mellisa's drunk on, well, whatever; like Ether-Ridges.

Bring me some water. I just shot a man... cool, cool water...

Have you ever studied Tesla's theories about the 'ether', and the ways that he tried to harness it, sweet one? How about 'The Green Book', by Mu'ammar al-Qadafhi?

Do you crave knowledge as you descend in to the so-called 'rabbit hole'?






Sat, 04/05/2014 - 22:27 | 4629214 Goldilocks
Goldilocks's picture

EMF - Unbelievable (3:42)

Sat, 04/05/2014 - 22:38 | 4629231 q99x2
q99x2's picture

That one on the left doesn't look human and the one next to him looks like he is lying.

Sat, 04/05/2014 - 22:48 | 4629249 Yen Cross
Yen Cross's picture

 I feel pretty darn good. Catch ya on the Sunday GMT open

   Long live Tyler!

Sat, 04/05/2014 - 23:15 | 4629264 rsnoble
rsnoble's picture

It's time.............dig a fucking hole. Anyone in their right mind would be glad to fill it.

Sat, 04/05/2014 - 23:20 | 4629274 earleflorida
earleflorida's picture

Can't Help Myself Dept:

"The Bank of New York Mellon"        Mellon was Sec. of Treasury for Harding, Coolidge and Hoover (1921-32)  He was a pinky... a closet communist? FDR knew?!?

Carnagie-Mellon, the Best of Friends?       (Carnegie/ Frick/ Mellon)      

Russian spies Alger Hiss and Wittaker Chambers were outed in 1948! It seems they, and hundreds moar had infiltrated the State Dept. and Congress?!?        *Hiss was vetted/vested by Carnegie                     

Important: In 1946 Richard M. Nixon was elected to Congress? Two years later he exposed Hiss as a communist spy, but Chambers beat him to it? Why? Alger Hiss was already outed, but the US NSA was secretly tracing his contacts to expose his entire organization (imposible to do because of small-cell-size, and total autonomy regarding double-agent infiltration). Someone must take his place [Hiss] in advance, knowing quite well Hiss gained notoriety exposing communist using fear and red-herring tactics through his vast network of governmental/ social contacts... already on the minds of most american's in the mid-late`40's-- communism, and the threat of its presence in the USA, with Presidential candidate Wallace campaigning for president in 1948 endorsing a soft progressive communism as healthy!          **FDR's 1st selection for VP-- Byrnes was #2 -- Truman a distant 3rd in 1944,_1946

Summary: Mellon merged July 1, 2007-- Note the DATE???    "GLOBAL STOCK MARKET CRASH 2008"       TIMING? UBTJ!

Mellon was a soft communist as was Carnegie, as was Nixon, as was Henry Wallace, (SCOTUS Justices) Felix Frankfuter/ Louis Brandeis

jmo, and how i feel about hidden alliances  (putting the cart before the horse makes for a lot of play-to-pay sense?)

Sun, 04/06/2014 - 01:24 | 4629397 MontgomeryScott
MontgomeryScott's picture



Mr. Thorton Mellon (a long-lost relative in the family lineage) seems to be really pissed at your derogatory comments regarding his family (and the Car-neH'-gie family, as well). These men are, well, EDJUMACATED!





Sun, 04/06/2014 - 01:36 | 4629402 MontgomeryScott
MontgomeryScott's picture

ANTIMONY: Definitons and uses:

For some time, China has been the largest producer of antimony and its compounds, with most production coming from the Xikuangshan Mine in Hunan. The industrial methods to produce antimony are roasting and subsequent carbothermal reduction or direct reduction of stibnite with iron.

The largest applications for metallic antimony are as alloying material for lead and tin and for lead antimony plates in lead-acid batteries. Alloying lead and tin with antimony improves the properties of the alloys which are used in solders, bullets and plain bearings. Antimony compounds are prominent additives for chlorine- and bromine-containing fire retardants found in many commercial and domestic products. An emerging application is the use of antimony in microelectronics.

Oh, I didn't understand.

YOU are talking about MATTER and ANTI-MATTER, and the subsequent theoretical reactions should these two theoretical constructs come in to direct contact in the same theoretical timeline.

For those who are not quite so travelled, the term 'time-homogeneous' means 'at the same time and the same place',  'simultaneously in existence'; 'both coming in to existence at the same time, and at the same location'.

This one WISHES that everything he ever need to know he learned from 'Star Trek' (but he was either too young, or too deluded to pay attention).

Sat, 04/05/2014 - 23:32 | 4629288 are we there yet
are we there yet's picture

Bankers swearing an oath of truth is like Mylie Cyrus twerking.

Sun, 04/06/2014 - 01:40 | 4629403 MontgomeryScott
MontgomeryScott's picture

A vision of Ben-Shalom Bernanke thrusting his hips out and asking to be fucked by his IMF boyfriend just crossed my mind briefly, upon reading your comment.

YOU are a really SICK man!

Sun, 04/06/2014 - 02:37 | 4629425 are we there yet
are we there yet's picture

I try, but your banker image outdoes mine.

Sat, 04/05/2014 - 23:34 | 4629290 Money Squid
Money Squid's picture

"... lucrative business of recycling petrodollars from the Middle East into third world countries."

I believe this statement above described the propaganda, but not the actual money flow. The book "The Hidden Hand of American Hegemony" describes how the petrodollars were deposited into the New York Fed which then loaned out the money to US companies and less than market rates to give US companies a significant financial advantage. Kissenger arranged for OPEC countries to only sell oil in US dollars and the OPECs were "encouraged" to put their dollars in US banks.

The World Bank and IMF "loaned" the money to developing countries at rates they could not afford based on overestimated natural resource predictions (by John Perkins and his company), which was designed to financially enslave the country so the assets could be sold off to western banks and fire sale prices when debt payments were missed. And, the big contracts went to US and other cooperative European companies.

Beer time !

Sun, 04/06/2014 - 08:49 | 4629628 Oldwood
Oldwood's picture

But that is how they attempt to enslave all of us. The difference is that they can offer bribes to people who should know better, who coincidentally also know they will never be personally be held to account. Oh...that's right, ...there is no difference!

Sun, 04/06/2014 - 00:45 | 4629370 Ms No
Ms No's picture

Harvest their organs!  We'll start the bidding for Dimon's liver at 2000.00.... we make it you bake it!

Sun, 04/06/2014 - 01:58 | 4629411 MontgomeryScott
Sun, 04/06/2014 - 03:48 | 4629458 B2u
B2u's picture

Dr. Lecter likes liver. " I ate His liver with some fava beans. ."      

Hannibal Lecter: [on telephone] I do wish we could chat longer, but... I'm having an old friend for dinner. Bye.

Sun, 04/06/2014 - 17:08 | 4630457 ljag
ljag's picture

Put me down for 5k on that liver. Gilead just informed me yesterday they want 180k for their "cure". Seems my Medicare & supp. Wasn't good enough. I told them I would pass.

Sun, 04/06/2014 - 01:58 | 4629410 WTFUD
WTFUD's picture

Ho Chi (mucky) Minge City
Labia Minora (labour minority)
Where there's muck there's Brass.

Sun, 04/06/2014 - 02:48 | 4629427 Nexus789
Nexus789's picture

Don't think 'drive' is the right word. I think destroy is more appropriate give the state of the US economy. They are leeches.

Sun, 04/06/2014 - 03:50 | 4629435 inky
inky's picture

According to the ancient mayan cycles we are now in the (Universal cycle) which started febuary 2011.Which means the human race is becoming fully conscious of everything and whats happening round the world.


Before this was the cycle of (galactic) which started 1999 which was Ethics.

Further back was (planetary) cycle 1755AD which was Power.

Even further back was (National) cycle 3115BC which was the creation of Law.

Now yr probaly thinking "WTF is inky on about" Well i cant be arsed to go into it all,but if you look into it ul get what im on about.

But briefly - in the LAW cycle came creation of laws (egypt)..

Then came POWER cycle = bankers/goverments which over powered law..

Then came ETHICS cycle  = which started to over power & beginning of the end of Bankers/goverments..

Now were in the CONSCIOUS cycle (which is the last cycle)= whole world is becoming collectively conscious (via internet etc ) of the true intentions of goverments/bankers and this hopefully is when the human race becomes free.


Have you all noticed how just recently over the past so many years the goverments & banks are getting more & more irrational/desperate to hide stuff from us to hold onto power and control !

They know their days are limited.

Also check out youtube theres stuff about it on there.


Sun, 04/06/2014 - 03:45 | 4629456 WTFUD
WTFUD's picture

Inky one would have to be in a coma not to notice the GubbaBanks irrationality ( eg Iraq war etc etc. . . ). Most painful, however, is the anesthetized sheep's acceptance of this LimboLand Status Quo.

Folks in gowns and flip flops are putting in a far more gallant effort not to succumb to the DISEASED ONES.

Your Mayan procrastinations hold little water or solace in this quarter.

Don't hold your breath or BANK on ANY AWAKENING without BLOOD SACRAFICE.

Sun, 04/06/2014 - 04:33 | 4629470 inky
inky's picture

@WTFUD "your mayan procrastinations hold little water or solace in this quarter"

Thanks for the heads up sheriff.

I just try to look at the world and everything in more than one way or direction.

Its what is called as having an open does not mean that this is my total and 100% beliefs.It means (what if) the mayans were right and were onto something.

The mayans were/are a very clever and advanced civilization and thought of & created stuff way ahead of their time while most of the rest of the world were eating bugs in caves.



Sun, 04/06/2014 - 09:39 | 4629688 WTFUD
WTFUD's picture

@ Inky

'Thanks for the heads up sheriff'

Did not mean to denigrate your open minded beliefs and the mayans sound like wonderfully interesting folks; in due course I intend to do a little research on the subject matter. Would be foolhardy of me to dismiss ANY group of people who were ahead of their time without researching thoroughly.

The main message in my post relates to the ' here and now ' and what realistically can/could/should be done to prevent further deterioration of the current system which appears to be propelling us towards WW111.

That said I am no sheriff; usually try to refrain from sticking my nose into other folk's business and would not hesitate to squeeze the life force out of anyone who stuck their nose into mine.

I can understand why my poor choice of words could be taken personally BUT the two other fucks who downed me are the 'real enemas' as the rest of my message holds up.


Sun, 04/06/2014 - 10:20 | 4629703 inky
inky's picture


Looking back at my first post i can see how it may have looked a bit out of place which was not intentional,I just thought the stuff i wrote may have relevence with whats happening in the world today.

Also i know the myan stuff was in the past,but from what i can gather some of their predictions & cycles have alot in common with how the human race is evolving.

Anyways peace out brother.

Sun, 04/06/2014 - 05:33 | 4629486 falak pema
falak pema's picture

Thank you for a good historical perspective of US banking and its stranglehold on the world political and financial systems since WW2.

Yes, US banks and their time line are one of the vital threads to understanding US hegemony of the Pax Americana age.

This retrospective stops just before Nixon/ Kissinger jumped from BW revoke and opened Eurodollar spigot in City, cementing the Petrodollar hegemony of 1973... That really started the fiat empire with no holds barred, as MORAL HAZARD went off the radar screen totally; at least for the USD, not so much for the other currencies...and their nation state oligarchies who had to play catch up ball in an inflation environment; all the while King Oil was being imported; killing their welfare state constructs under the petrodollar gun, leading to the great second Oil hike and subsequent Volcker interest rate temporary economic  freeze that ruined the third world loan markets, opening the gates of WS asset class shenanigans age.

One aspect of this update is that it kills; aka it should put to rest; a recurrent theme here on ZH that British financing ran the world via the Rothschild connection even after WW2.

It didn't, the City belonged to the US banks from DAY 1 of Eurodollar construct and this retro proves it quite clearly.

 Not saying that the Rothschilds and their network were not dominant in US finance along with their WASP counterparts; Wrinston/Mellon/Rockafella; they were, but thru their INVESTMENT banking networks that would DOMINATE US banking subsequently POST Reaganomics and big bang in CIty as in WS.

Its the supply side deregulated construct that put Investment banking (and shadow banking) center stage in finance.

It was Clintonian extension of Reaganomics that would make GS (Robert Rubin)  and Sandy Weill the kings of Wasp banks, creating the TBTF behemoths  harbingers of the derivative soup; heralding the no holds barred Casino economy under Greenspan's benign ZIRP (or so he thought) and after having gunned down MITI-Japan rival via Plaza accord under Ronnie/Bush Snr. 

It made the debt economy even more pungent as the Wasp banks only used debt in their LOAN operations during the pre-Reaganomics Nixonian period; whereas the Investment banks, thanks to takeover of deposit banks, made the Loan operations the bedrock of WS stocks and leveraged bonds games after Reagan/Thatcher said : Open Range!

Now the whole financial system was corrupted; aka Mike Milken/Madoff/GS/JPM/HF shadow banking globalised fiat Ebola disease! 

And that ladies and gentlemen was the crowning glory of financialised Pax Americana morphing; all after Bush Senior sang : "We tower over you like a colossus and its now OUR way or the rogue state byway".

Interesting that Bush Junior is now creating a portrait gallery of those Pax Americana shills; and some recalcitrant rivals; who iconise this corrupt age where the Oligarchy motto of the Carlyle ETHIC is printed for all to read : 


The leading question in that definitive statement is for whom and to what purpose?

I think we have the answer to that question in that gallery of portraits....Dorian Gray comes to mind! 


Sun, 04/06/2014 - 07:42 | 4629569 groundedkiwi
groundedkiwi's picture

FFS, G W Bush will always be remembered as the guy who grinned, and said, " Wall St got drunk".
He should have elaborated at that crony speech of his.
On my watch, Wall St got drunk.

Sun, 04/06/2014 - 18:37 | 4630659 falak pema
falak pema's picture

FFS, you must be a sailor marooned on land. 

I love one liners when they sound true to the core...Drunk on Hubris and immune to Moral hazard...

Now that makes sense even from a sailor's perspective, on the high seas of rigged markets. 

Sun, 04/06/2014 - 05:35 | 4629497 f16hoser
f16hoser's picture

It's time to Jettison these Assholes...

Sun, 04/06/2014 - 06:20 | 4629513 vyeung
vyeung's picture

sorry but you got it the other way round. The banksters are Oboso's boss, not the other way round. The banksters bosses are the BOE/Fed kingpin families. Oboso is just the Jim Carey of the US, to keep the general public amused.

Sun, 04/06/2014 - 07:11 | 4629541 Jerome Lester H...
Jerome Lester Horwitz's picture

I recall reading about all of this in The Creature From Jekyll Island but it is nice to read the accounts in that book backed by a Goldman Sachs insider.

Sun, 04/06/2014 - 07:33 | 4629559 groundedkiwi
groundedkiwi's picture

Shifting sands

Sun, 04/06/2014 - 08:21 | 4629573 buzzsaw99
buzzsaw99's picture

It's a good thing the bankers have a giant military machine + police state at their disposal. [/sarc]

Sun, 04/06/2014 - 07:49 | 4629576 BeetleBailey
BeetleBailey's picture

One good strafe with a machine gun would take out those 4 cunts holding their lying right hands up.

THEN to take out upper bank management, then the shit-eating lower managers - oh, and save a clip or two for those HFT machines these evil fucks installed and hard-wired into the casino markets....


For openers.....

Sun, 04/06/2014 - 08:07 | 4629586 tony wilson
tony wilson's picture

my daddy once tolds me dat adolf hiltler the dicktraitor had a banker i cante rememmembers his name began with a b eye think.

now dis fella was a jewish fella the b fella and he helped hiltler out and stuffs.

now dis b fella had a brudder who was also jewish and he was der banker of our presdent cante remmemebers his name der predent dat said infirmy infirmy those pearl harbour japs av got it in firm me.

you nose der guy in der wheel chairs in yalta.

anyways he said to 2 brudders where workin for opposite sides germany and usa butt at the same times workin together.

kind of likes paul macathy and stevey wonders ebony ivory workin in jewish harm many singin a lovely song but not meetin up for the video shoot.

sounded like shit to me i mean der video looked like faul mcarthy and stevie wonders where together anyways i side stepped the hollow cause has nothing to do with the creapy ex beatle actor who today plays paul.

what i ams sayins is



Sun, 04/06/2014 - 11:07 | 4629762 Seize Mars
Seize Mars's picture

tony wilson


Are you regressing into some primal baby-state?

If you have something to say, just say it.

Sun, 04/06/2014 - 11:41 | 4629809 tony wilson
tony wilson's picture

the moon and mars

jupiter and saturn

all satanic and a little jewish not to mention masonic.

what if cern was not higs bosum but worm hole.

hey ya hey ya i bet you think aronvsky is an amzing director you wanker

Sun, 04/06/2014 - 07:58 | 4629588 Atomizer
Atomizer's picture

Beijing China  | Ni Hao

Do NOT follow this link or you will be banned from the site!