Saturday, January 5, 2013

Any Questions About Why This Country Is Collapsing?


  1. i saw this gem months ago. pretty damning of an entire subculture of entitled ignorance by its own mouth. all we need now for the sake of balance and fairness is Jon corzine in the docket in front of Judge Judy.

  2. You focus on casualties of system versus the predators in the system...............

    Big money has polluted the political process and stifled discussion in the corporate media. And they treat this like some embarrassing cousin whom the family rarely discusses in public.

    It is the credibility trap. And it is crippling the Anglo-American economic system.

    Secret and Lies of the Bailout
    By Matt Taibbi
    January 4, 2013

    It has been four long winters since the federal government, in the hulking, shaven-skulled, Alien Nation-esque form of then-Treasury Secretary Hank Paulson, committed $700 billion in taxpayer money to rescue Wall Street from its own chicanery and greed. To listen to the bankers and their allies in Washington tell it, you'd think the bailout was the best thing to hit the American economy since the invention of the assembly line. Not only did it prevent another Great Depression, we've been told, but the money has all been paid back, and the government even made a profit. No harm, no foul – right?


    1. You are right on Anonymous. That video, as bad as it is, distracts from the much larger problems which need to be fixed FIRST.

  3. good interview...

    Eric Sprott ~ Sprott Market Insights

  4. no real comment-have to let the video speak for itself.

  5. My wife loves watching Judge Judy. I can't stand the show. It's a never-ending parade of morons, proud of their imbecility, who aren't smart enough to know how stupid they are. The saddest aspect of the show, however, is that it highlights the fact that morons like this are....everywhere! They are the majority. We are so screwed.

  6. You can see on his face that he can't even understand the point she's making. It is too much for his brain. And this is with 3 years of college. There are a LOT of people like this (enough to cause big trouble). What are we going to do with them? Let them starve in a collapse? Where will his anger go? Towards the government? Towards a store that won't give him hamburgers and coke? Toward an old lady with a can of soup? He _will_ band with others like himself to get what he thinks he deserves. After all, "me is me, know what I'm sayin'? [wipes nose]" Should he end up shot for stealing because he's stupid? Even without a collapse, how can he ever become a productive member of society? Should we banish the lazy and stupid?

    1. Yes, there are a lot of these people - there are now enough to tip elections.

    2. I'm sure the nose wiping was due to cocaine use

      your tax dollars at work...

  7. Why the major global banks have become the enemy of the State and should be treated in the same way as Organised Crime or Financial Terrorists!

    Talking about the redirection of global banks' financial ambitions, Naylor says this;
    "...Since the late 1970s, the world has also seen a dramatic rise in the organisational skills of white-collar criminals - specifically their ability to control illegal markets, to render the operation of legal markets illegal and to debauch the political systems that are supposed to keep their power in check. The financial counterpart of the growing power and scope of white-collar crime is the increasing use of the instruments of peekaboo finance and a parallel expansion of its machinery..."
    The financial crisis which has caused such damage to the economies of a wide group of Western economies, arose directly from the criminal activities of banks who had long since stopped seeking to provide conventional banking services to their customers, and who, through the use of Naylor's peekaboo financing, were looking instead for ways in which to continue to manipulate the world's sources of capital flows, with the view of enhancing their own profitability.

    Their real role is to facilitate the safe handling and onward transmission of Naylor's vast ball of hot, criminal money which rolls around the financial world, seeking temporary accommodation.
    They each take it in turn to earn a profit from their actions before helping the money to move on again to the next facilitator. That's what the major financial institutions in the UK exist to do and have done for many years, and vast fortunes have been built on this facilitation of such criminal activity. These banks (now on a global basis) exist to facilitate the ambitions of international organised crime, because they have the available capital which needs storing, housing, a safe haven, and onward transmission in a disguised form. These institutions are merely an extension of the criminal facilitation process, because the money which they seek to manage and attract is no longer the proceeds and profits of ordinary commercial businesses, but the proceeds of white-collar criminals, organised crime gangs, drug traffickers, and foreign dictators.

    The answer for them is how to find ways of handling that criminal money without being too easily identified and interdicted. Money laundering methods have become ever more sophisticated as the financial institutions have sought for ever more sophisticated ways of handling the money without getting caught too often.
    One of the ways in which they send this message is to persuade their home Governments and financial regulators that they are financial geniuses, who alone know how to continue to maintain the throughput of capital upon which so much of the well-being of the contemporary economy depends.
    This is a particularly subtle but cynical method for protecting their hegemony. They spread the message that those who are employed within the banking sector are financial geniuses without whom, the whole edifice would fail to function profitably. They reinforce this message by paying their staffs salaries and bonuses which outweigh anything normally dreamt of within the conventional meaning of the realms of avarice, they engage in wholesale and widespread tax-planning and aggressive fiscal avoidance schemes, and they encourage wholesale acts of internal criminal fraud against their retail clients.

  8. Thorsten Polleit discusses 'collective corruption'

    Episode 84: Andy Duncan talks to "Austrian" economist, Professor Thorsten Polleit, about a recent speech he gave entitled "What Do Bankers Know About Money and Banking?" Dr Polleit is Chief Economist for Degussa Goldhandel in Germany, and for 12 years until April of 2012 was the Chief German Economist for Barclays Capital. He lectures in Economics at the Frankfurt School of Finance and Management, and the universities of Bayreuth and Duisburg-Essen.

    Andy and Thorsten discuss the latter's monetary theory of how fiat currency tends to result in "collective corruption" in societies, and how this then leads to hyperinflation, despite the dangers to society that hyperinflation always brings. They also debate the development of global fiat currency over the last 40 years, and how increasing levels of debt may mark its terminal decline. Governments may plan for this decline by re-introducing gold-backing to Western currencies.

  9. Has anyone been looking at the VIX lately?

    The latest ondit, highly dubious rumor, is that the VIX has become the replacement for LIBOR. As you will recall the OTC derivatives blew out 92 on the USDX and 1,000 on gold some time ago. Well the banks recovered from this by fixing LIBOR (more than they did already) and creaming the derivatives. Now LIBOR has gone under the hammer, the VIX appears to be the replacement. Yesterday for instance it fell 5% to 13.83.

    The ondit goes that the gold can to be let go as it is hard to manipulate anymore and indeed it is absolutely irrelevant to anyone except a few unsophisticated central banks, coin collectors and gold bug hoarders, as the VIX is now the new canary in the gold mine.

    Do you think they can get the VIX down to 8 or will it stop at 5 or 6, this is the question?

  10. The character of a people is a true reflection of the character of their money.

  11. Folks this stupid should be exterminated, quickly and at lowest possible cost.

    Same goes for the exec's @ the TBTF.

    Stupid people and greedy bastards are destroying it for those of us that have a working brain and give a damn.

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