SGT Report – Jason Burack, co-founder of WallStForMainSt.com joins me to discuss the Bankers’ war against humanity which is now accelerating with calls to ban cash in both the EU and the United Sates. Jason explains how the middle class is systematically being destroyed by the bankster class and ruling elite. And with no end in sight, Jason warns that it will all get a lot worse in the near future.
https://youtu.be/q2JoVAfTCdA
SF Source SGTreport.com Feb 2016
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“While the earnings of a minority are growing exponentially, so too is the gap separating the majority from the prosperity enjoyed by those happy few. This imbalance is the result of ideologies which defend the absolute autonomy of the marketplace and financial speculation. Consequently, they reject the right of states, charged with vigilance for the common good, to exercise any form of control.
A new tyranny is thus born, invisible and often virtual, which unilaterally and relentlessly imposes its own laws and rules … In this system, which tends to devour everything which stands in the way of increased profits, whatever is fragile, like the environment, is defenceless before the interests of a deified market, which become the only rule.” Francis I
“He was a murderer from the beginning, not standing with the truth, for there is no truth in him. When he lies, he speaks of his own, for he is a liar, and the father of lies.” John 8:44
Jesse – It feeds on whatever is fragile, vulnerable, whether it be the environment, the public peace, the weak, the marginalized, the poor, the disabled, or the hearts and minds of children.
Peace and love are weakness; conquest and plunder are our calling.
There are a number of possible explanations for this recent cluster of untimely deaths on Wall Street.
They may be suicides. The culture of pressure and high stakes on Wall Street is notorious. Young bankers can literally work themselves to death for managers and institutions who have little or no value or appreciation for normal human life, except for the most cynical of public masquerades. Continue reading
““Information-sharing” can mean illegal collusion. Would the information-sharing here include such things as secret agreements among central banks to buy or sell particular currencies, with the concomitant power to support or collapse targeted local economies?” – E Brown
On December 11, 2014, the US House passed a bill repealing the Dodd-Frank requirement that risky derivatives be pushed into big-bank subsidiaries, leaving our deposits and pensions exposed to massive derivatives losses. The bill was vigorously challenged by Senator Elizabeth Warren; but the tide turned when Jamie Dimon, CEO of JPMorganChase, stepped into the ring. Perhaps what prompted his intervention was the unanticipated $40 drop in the price of oil. As financial blogger Michael Snyder points out, that drop could trigger a derivatives payout that could bankrupt the biggest banks. And if the G20’s new “bail-in” rules are formalized, depositors and pensioners could be on the hook.
The new bail-in rules were discussed in my last post here. They are edicts of the Financial Stability Board (FSB), an unelected body of central bankers and finance ministers headquartered in the Bank for International Settlements in Basel, Switzerland. Where did the FSB get these sweeping powers, and is its mandate legally enforceable?
Those questions were addressed in an article I wrote in June 2009, two months after the FSB was formed, titled “Big Brother in Basel: BIS Financial Stability Board Undermines National Sovereignty.” It linked the strange boot shape of the BIS to a line from Orwell’s 1984: “a boot stamping on a human face—forever.” The concerns raised there seem to be materializing, so I’m republishing the bulk of that article here. We need to be paying attention, lest the bail-in juggernaut steamroll over us unchallenged.
“Fraud generates risk, and risk eventually breaks out in the “safest” parts of the financial plumbing, the ones nobody gives a second thought to because they’re “low risk.”” – C H Smith
Let’s go all the way back to the last time a central banker actually spoke the truth in public: December 5, 1996, 18 long years ago. It was on that day that Federal Reserve Chair Alan Greenspan gave a typically dry speech that hinted stocks could actually become overvalued (gasp!) due to irrational exuberance and subsequently plummet when rational valuations returned:
Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets. We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past. But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
Global stock markets promptly sold off hard at the shocking revelation that stocks might actually become subject to unexpected and prolonged contractions. This sharp reaction to a fundamental truth about markets–that they are prone to the irrational exuberance of participants, and the computer trading programs keyed to this momentum magnify the irrationality–caused central bankers to avoid any upsetting truth from then on. Continue reading
“. . . large corporations that in many cases do not pay any taxes, will get 2/3rds of the tax breaks outlined in the legislation, including fossil fuel corporations, at the expense of clean energy.” – L E Rafferty
Now that we have celebrated Thanksgiving, I was struck by the news that Congress is considering legislation that would grant large tax breaks to corporate citizens and actually remove tax breaks for the poor and the middle class.
‘ “This Congress seems willing to give huge tax cuts to big businesses—who are already doing better than ever—but somehow can’t prevent tax increases on 50 million working Americans that will occur when expansions of the Earned Income Tax Credit and Child Tax Credit expire,” Harry Stein, the Associate Director for Fiscal Policy at American Progress Action Fund, told ThinkProgress. “This is a great deal for CEOs and a terrible deal for struggling families.”’ Nation of Change
One of the most amazing aspects of the proposed legislation is that it was reached as a compromise between Republicans and Democrats in the Senate. In light of the hug tax breaks for corporations, one is left wondering, just what did the poor and the middle class get in this “compromise”? The answer to that question is, not much. Continue reading