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Gifts for Ketchim and the Rest

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2 weeks 16 hours ago #380522 by mapoui
Let Skunt Captain take this one dong too. this crap too right Scaptain?


www.paulcraigroberts.org/2020/03/14/econ...ld-be-revolutionary/

Paul Craig Roberts

Coronavirus and globalism will teach us vital lessons. The question is whether we can learn vital lessons that do not serve the ruling interest groups and ideologies.

Coronavirus will teach us that a country without free national health care is severely handicapped. Millions of Americans live paycheck to paycheck. They cannot afford health care premiums, deductions, and copays. Millions have no insurance. This means millions of people infected with coronavirus who cannot get medical help. The morbidity from this is intolerable in any society.

Shutdowns associated with efforts to contain the spread of coronavirus will deny income to millions of Americans who live paycheck to paycheck. What do they do for food, shelter, transportation? You don’t have to think very long along these lines to see a very frightening scenario.

Globalism has taken down the ladders of upward mobility by exporting American middle class jobs to Asia. A population once able to save now lives on debt, the service of which is interrupted by recession/depression and by debt service absorbing all net disposable income.

Globalism has also reduced the survivability of our society by making it dependent on externally produced goods, the supply of which can be cut off by disruptions in other societies, by policy disagreements leading to sanctions, and by an inability to export enough to pay for imports, which is what the offshored production of US firms is.

The United States has an unprotected population and an economy in trouble. For years corporate executives have run the companies for the benefit of their bonuses, which are largely dependent on rises in their company’s share price. Consequently, profits and borrowings have been invested in buying back the companies’ shares and not in new investment in the businesses. Corporate indebtedness is extreme and will threaten many corporations and many jobs in a downturn. Boeing is a case in point.

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2 weeks 16 hours ago #380523 by mapoui
michael-hudson.com/2020/01/front-running/

Transcript
FRONT RUNNING: 2020

MAX KEISER: Front Running: 2020 with me, Max Keiser, and Stacy Herbert. As we look ahead to all the excitement of the 2020 elections, every episode we dig deep into something new. This time we’re going to look at the wealth tax, Stacy.

STACY HERBERT: That’s right. We’re looking at all the economic policies being presented by the Democratic candidates. Many of them are very radical. Bernie Sanders, says, “Billionaires should not exist.” And to find out whether or not they should. We have guests with us. Dr. Michael Hudson, and Prof. Steve Keen. Steve, we’ll start with you first.

PROF STEVE KEEN: Well, I have a very complicated position on this because part of my research is into Minsky, what’s called the Financial Instability Hypothesis, that explains where the 2008 crisis came from. Out of that, part of what I discovered from the mathematical modeling idea was that there’s a simple relationship between an increase in level of private debt and a fall in the amount of money going to workers.

As you had a rising level of debt, which is what led to a crisis, that rising level of debt meant a rising amount of money going to the bankers. And rather than the capitalists being the ones who paid for it, in fact, it was the workers. There was a falling income going to the workers. Now look at the empirical data, that’s what’s happened as well. The rising level of private debt has meant more money going to bankers, less going to workers, and capitalists fitting in the middle.

MAX: How come this issue is so misunderstood by the Democrats? They seem to be financially illiterate, and this idea, do we need billionaires should be really rephrased as, “Where do billionaires come from?” In other words, how do you get billionaires? Right? And it seems like there’s a lot of area to examine in the banking system, in the central banking system where they seem to have engineered, if you will, using what in economics is called the Cantillon Effect, where the Central Bank prints billions, hundreds of billions, and somehow it never circulates in the economy and it goes to the same people’s pockets all the time. Where do billionaires come from? That’s the question.

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2 weeks 16 hours ago #380525 by mapoui
russia-insider.com/en/us-ponzi-economy-s...assive-scale/ri28071

Financial services as currently structured is the most pernicious, predatory and corrupt industry on earth. Moreover, it’s the deliberately complex and opaque nature of the industry which then limits public debate when some problem arises and governments and central banks are called upon to take emergency measures to “save the system,” which is just a euphemism for enormous sums of corporate welfare being funneled to people and institutions who couldn’t survive otherwise.

One of the main reasons big finance is able to pull off scam after scam in plain sight relates to the complexity, opacity and esoteric jargon associated with the industry. Repo is a perfect example. The market had a spasm in September and the Fed immediately rushed in with billions to bring the rate down without offering any transparency or a credible explanation of what was going on. Meanwhile, as the crisis continued over subsequent months and the central bank response grew larger and larger, we actually seem to be learning less with each passing day.

Instead of providing the public with the transparency it deserves, Fed officials run around pretending to be financial surgeons called in to perform an unexpected emergency operation on a patient after a freak accident. In reality, central banks are merely pumping billions into an already dead body while enriching connected and powerful individuals and institutions in the process. They know exactly what they’re doing and we need to stop pretending otherwise.

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2 weeks 16 hours ago #380526 by mapoui
www.globalresearch.ca/the-federal-reserv...eight-families/25080

The Four Horsemen of Banking (Bank of America, JP Morgan Chase, Citigroup and Wells Fargo) own the Four Horsemen of Oil (Exxon Mobil, Royal Dutch/Shell, BP and Chevron Texaco); in tandem with Deutsche Bank, BNP, Barclays and other European old money behemoths. But their monopoly over the global economy does not end at the edge of the oil patch.

According to company 10K filings to the SEC, the Four Horsemen of Banking are among the top ten stock holders of virtually every Fortune 500 corporation.[1]

So who then are the stockholders in these money center banks?

This information is guarded much more closely. My queries to bank regulatory agencies regarding stock ownership in the top 25 US bank holding companies were given Freedom of Information Act status, before being denied on “national security” grounds. This is rather ironic, since many of the bank’s stockholders reside in Europe.

One important repository for the wealth of the global oligarchy that owns these bank holding companies is US Trust Corporation – founded in 1853 and now owned by Bank of America. A recent US Trust Corporate Director and Honorary Trustee was Walter Rothschild. Other directors included Daniel Davison of JP Morgan Chase, Richard Tucker of Exxon Mobil, Daniel Roberts of Citigroup and Marshall Schwartz of Morgan Stanley. [2]

J. W. McCallister, an oil industry insider with House of Saud connections, wrote in The Grim Reaper that information he acquired from Saudi bankers cited 80% ownership of the New York Federal Reserve Bank- by far the most powerful Fed branch- by just eight families, four of which reside in the US. They are the Goldman Sachs, Rockefellers, Lehmans and Kuhn Loebs of New York; the Rothschilds of Paris and London; the Warburgs of Hamburg; the Lazards of Paris; and the Israel Moses Seifs of Rome.

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