Category Archives: money

BAILOUT: THE MOVIE

Youtube.com

Bailout is the tale of an unemployed Chicago lawyer who stops paying his mortgage and enlists four friends (also unemployed) to join him in a Winnebago trip to Las Vegas. Their plan is tear a page out of Wall Street’s playbook and piss away the bank’s money by gambling and partying their asses off. Along the way our gang discovers first hand how Americans have been adversely affected by the financial crisis, principally through foreclosures. S ee first-hand how politically powerful banks are systemically eliminating America’s middle class through off-shored job losses and fraudulent home foreclosures.

 

 

MAD AS HELL from sean fahey on Vimeo.

An enigma wrapped in Doc-hybrid form, Bailout is a social documentary that explores American anger with the Wall Street elites who survive and thrive on their cancerous system of bailouts, fraud, and political corruption that actively work in concert to destroy Main Street. From entry-level workers in northeast Indiana RV factories to Congressional leaders to rock stars, Bailout tells the story of recent American economic events through the mouths of people who labored through thick and thin–what it was and how it has affected us all. The film focuses on unchecked financial fraud and the refusal to punish such fraud that lies at the root of our nation’s illness, examined through the well informed filter of its lead character, John Titus and his “dukes of moral hazard”. While many financial documentaries have done a great job of enraging audiences and leaving us shaking our heads, Bailout is a call to action inspiring Americans to exercise their right to speak out against injustice and take their grievances to the streets until their voices are heard. The film features well-known personalities from both sides of the political aisle leveling blistering attacks on the anything-for-big-banks culture that pervades all of politics today. Noam Chomsky, Chris Hedges, and Yves Smith deliver critiques from the traditional “left,” counter-balanced by MSNBC’s Dylan Ratigan, Florida Tea Party co-founder Karl Denninger, and Wall Street banking analyst Christopher Whalen. 

 

 

Tens of Trillions of Dollars are Being Extracted From The United States of America.

 

A Short History Of Paper-Money And Banking

 

The Best Way To Rob A Bank Is To Own One

 

 

 

 

US Economy Is A House Of Cards

 

by Dr. Paul Craig Roberts

 

The US economy is a house of cards. Every aspect of it is fraudulent, and the illusion of recovery is created with fraudulent statistics.

American capitalism itself is an illusion. All financial markets are rigged. Massive liquidity poured into financial markets by the Federal Reserve’s Quantitative Easing inflates stock and bond prices and drives interest rates, which are supposed to be a measure of the cost of capital, to zero or negative, with the implication that capital is so abundant that its cost is zero and can be had for free. Large enterprises, such as mega-banks and auto manufacturers, which go bankrupt are not permitted to fail. Instead, public debt and money creation are used to cover private losses and keep corporations “too big to fail” afloat at the expense not of shareholders but of people who do not own the shares of the corporations.

 

 

 

Profits are no longer a measure that social welfare is being served by capitalism’s efficient use of resources when profits are achieved by substituting cheaper foreign labor for domestic labor, with resultant decline in consumer purchasing power and rise in income and wealth inequality. In the 21st century, the era of jobs offshoring, the US has experienced an unprecedented explosion in income and wealth inequality. I have made reference to this hard evidence of the failure of capitalism to provide for the social welfare in the traditional economic sense in my book, The Failure of Laissez Faire Capitalism, and Thomas Piketty’s just published book, Capital in the 21st Century, has brought an alarming picture of reality to insouciant economists, such as Paul Krugman. As worrisome as Piketty’s picture is of inequality, I agree with Michael Hudson that the situation is worse than Piketty describes.

Capitalism has been transformed by powerful private interests whose control over governments, courts, and regulatory agencies has turned capitalism into a looting mechanism. Wall Street no longer performs any positive function. Wall Street is a looting mechanism, a deadweight loss to society. Wall Street makes profits by front-running trades with fast computers, by selling fraudulent financial instruments that it is betting against as investment grade securities, by leveraging equity to unprecedented heights, making bets that cannot be covered, and by rigging all commodity markets.

The Federal Reserve and the US Treasury’s “Plunge Protection Team” aid the looting by supporting the stock market with purchases of stock futures, and protect the dollar from the extraordinary money-printing by selling naked shorts into the Comex gold futures market.

The US economy no longer is based on education, hard work, free market prices and the accountability that real free markets impose. Instead, the US economy is based on manipulation of prices, speculative control of commodities, support of the dollar by Washington’s puppet states, manipulated and falsified official statistics, propaganda from the financial media, and inertia by countries, such as Russia and China, who are directly harmed, both economically and politically, by the dollar payments system.

As the governments in most of the rest of the world are incompetent, Washington’s incompetence doesn’t stand out, and this is Washington’s salvation.

But it is not a salvation for Americans who live under Washington’s rule. As all statistical evidence makes completely clear, the share of income and wealth going to the bulk of the US population is declining. This decline means the end of the consumer market that has been the mainstay of the US economy. Now that the mega-rich have even more disproportionate shares of the income and wealth, what happens to an economy based on selling imports and off-shored production of goods and services to a domestic consumer market? How do the vast majority of Americans purchase more when their incomes have not grown for years and have even declined and they are too impoverished to borrow more from banks that won’t lend?

The America in which I grew up was self-sufficient. Foreign trade was a small part of the economy. When I was Assistant Secretary of the Treasury, the US still had a trade surplus except for oil. Offshoring of America’s jobs had not begun, and US earnings on its foreign investments exceeded foreign earnings on US investments. Therefore, America’s earnings abroad covered its energy deficit in its balance of trade.

The economic stability achieved during the Reagan administration was shattered by Wall Street greed. Wall Street threatened corporations with takeovers if the corporations did not produce higher profits by relocating their production of goods and services for American markets abroad. The lower labor costs boosted earnings and stock prices and satisfied Wall Street’s cravings for ever more earnings, but brought an end to the rise in US living standards except for the mega-rich. Financial deregulation loaded the economy with the risks of asset bubbles.

Americans are an amazingly insouciant people. By now any other people would have burnt Wall Street to the ground.

Washington has unique subjects. Americans will take endless abuse and blame some outside government for their predicament–Iraq, Afghanistan, Libya, China, Russia. Such an insouciant and passive people are ideal targets for looting, and their economy, hollowed-out by looting, is a house of cards.

 

About Dr. Paul Craig Roberts

Paul Craig Roberts was Assistant Secretary of the Treasury for Economic Policy and associate editor of the Wall Street Journal. He was columnist for Business Week, Scripps Howard News Service, and Creators Syndicate. He has had many university appointments. His internet columns have attracted a worldwide following. Roberts’ latest books are The Failure of Laissez Faire Capitalism and The Failure of Laissez Faire Capitalism and Economic Dissolution of the West and How America Was Lost.

 

 

 

OOPS! Is It Art or Is It Trash?

Missing Painting sold in HK for $3.7 million may have gone out with the trash

(Reuters) – A painting that was auctioned for HK$28.8 million ($3.7 million) two days ago has gone missing, police said, with media reports on Wednesday suggesting cleaners may have inadvertently thrown the artwork out.

The 2012 painting “Snowy Mountain”, by Chinese artist Cui Ruzhuo, was reported missing by Chinese auctioneers Poly Auction on Tuesday afternoon after the auction on Monday, police told Reuters.

Ming Pao newspaper reported that police had checked CCTV footage at the Grand Hyatt hotel, where the auction took place, which showed cleaners removing the painting. That raised fears that the painting had been sent out with the garbage to the city’s landfill.

Los Angeles Times: Painting may have been tossed in trash just after selling for millions 

 

$3.7M Painting Suspected to Be Mistakenly Trashed by GeoBeats

 

Huffington Post: Arthur Pinajian Art Worth $3o Million Found In Garage

Sometimes it pays to buy the former house of an obscure Armenian-American artist, a lesson recently learned by lucky new home owners Thomas Schultz and Lawrence Joseph.

According to News 12 in Long Island, New York, the duo purchased a massive collection of artworks by little-known painter Arthur Pinajian along with his old Bellport cottage. They bought the rare find for $2,500 in 2007, on top of the$300,000 cost of the house, and proceeded to restore, frame and appraise the paintings, drawings and journals found in the garage.

Well, it turns out their decision to buy Mr. Pinajian’s art stash along with the house was a good one, as the collection has now been valued at a remarkable $30 million, according to the Wall Street Journal.

 

 

The Guardian: Cleaner clears up Hirst’s ashtray art

Nobody told the cleaning lady it was art

 

 

 

Michael Lewis: High-Speed Traders Have Rigged The Stock Market

(Reuters)

(Reuters) – The U.S. stock market is rigged in favor of high-speed electronic trading firms, which use their advantages to extract billions from investors, according to Michael Lewis, author of a new book on the topic, “Flash Boys: A Wall Street Revolt.”

High-frequency trading (HFT) is a practice carried out by many banks and proprietary trading firms using sophisticated computer programs to send gobs of orders into the market, executing a small portion of them when opportunities arise to capitalize on price imbalances, or to make markets. HFT makes up more than half of all U.S. trading volume.

Read the full article

CBS News: Is The U.S. Stock Market Rigged?

 

 

 

Why Is High Frequency Trading Tolerated?

Wikipedia: Front running

ebook preview: Flash Boys

 

 

 

‘I’m Forever Blowing Bubbles’ Sing The Globalists To Fleece The Public

 I’m Forever Blowing Bubbles

Lyrics

Verse 1

I’m dreaming dreams,
I’m scheming schemes,
I’m building castles high.
They’re born anew,
Their days are few,
Just like a sweet butterfly.
And as the daylight is dawning,
They come again in the morning.

Chorus

I’m forever blowing bubbles,
Pretty bubbles in the air,
They fly so high,
Nearly reach the sky,
Then like my dreams,
They fade and die.
Fortune’s always hiding,
I’ve looked everywhere,
I’m forever blowing bubbles,
Pretty bubbles in the air.

 

Economic bubbles are generated when governments work together with monopolies and cartels. The biggest monopoly is the Federal Reserve Bank, a privately owned monopoly that prints money out of nothing and charges principal and interest to the swindled debtor. Since the 1933 bank holiday by President Roosevelt, American taxpayers have been exploited by a ‘debt-money‘ system. This system ony creates the principal when a loan is made, the interest that is charged to the debtor is not created, so, like a game of musical chairs, only some of the debtors can pay off their loans. 

A debt-money system by definition is a fraud because it demands the impossible. There is not enough money in the economy for all the debtors to pay the principal+ interest because only the principal enters the economy. So debt must increase and we all, no matter how productive or wealthy, become slaves to a private monopoly enforced by the government.

Look at history: the South Sea Bubble, The French Mississippi Bank Bubble, The Roaring  20s Bubble and the crash of ’29, The numerous real estate bubbles, stock market bubbles, Dot-Com Bubble, Housing Bubble, Higher Education Bubble, Obamacare, all involve government in partnership with cartels and monopolies.

It’s a formula that worked in the past, is working right now, and will work in the future.

 Government + Monopoly =’Bubbles R Us’

Monopoly = 2 Big 2 Fail = Profits are private and only for the privileged few, while losses are public and become debts the taxpayers will pay.

 

 

 

The Best Way To Rob A Bank Is To Own One

John Law’s Mississippi French Bank Bubble

The South-Sea Bubble

Bill Black: Two Sentences Explain The Housing Bubble

The Federal Reserve Created The Roaring 20s Bubble and The Crash Of 1929 

ebook preview: The Demographic Cliff

The Higher Education Bubble

‘Artificial Scarcity’ Weapon Concentrates Wealth And Power!

Artificial scarcity describes the scarcity of items even though the technology and production capacity exists to create an abundance. The term is applied to non-rival resources, i.e. those that do not diminish due to one person’s use, although there are other resources which could be categorized as artificially scarce. The inefficiency associated with artificial scarcity is formally known as a deadweight loss.   (Wikipedia)

Scarcity may be a weapon manufactured to concentrate wealth and power or advance an agenda.

Sugar  Tobacco  Opium  Oil  Diamonds  Tea Cotton Silk

Airline fares  McRibs   Disney

 

 

 

Have You Ever Tried To Sell a Diamond?

Your Freedom To Travel On Public Roads Is Under Attack!

Via: Activist Post

Drivers Forced onto Tollroads in Texas

by Aaron Dykes

Private Interests Inhibiting Free Travel on Public Roads – Paid for By Taxpayers 

The overlapping control grid of the Trans-Texas Corridor/ NAFTA Superhighway and Agenda 21 urban redevelopment in the Texas Triangle (ref: America2050.org) is taking over public roadways and directing human behavior.

Read Aaron Dykes full article

 

List of toll roads in the United States

Toll Roads and Double Taxation

Taxpayers Footing The Bill For Foreign-Owned Toll Road In Texas

Spain’s Cintra Goobles Up Sixth U.S. Toll Road Contract

Foreign Companies buying taxpayer funded roads and bridges

Dark Side to Globalization: Chocolate and Child Slave Labor

Via: Wikipedia

The widespread use of children in cocoa production is controversial, not only for the usual concerns about child labor and exploitation, but also because up to 12,000 of the 200,000 children working in Côte d’Ivoire, the world’s biggest producer of cocoa,  may be victims of trafficking or slavery.  Most attention on this subject has focused on West Africa, which collectively supplies 69 percent of the world’s cocoa, and Côte d’Ivoire in particular, which supplies 35 percent of the world’s cocoa. Thirty percent of children under age 15 in sub-Saharan Africa are child laborers, mostly in agricultural activities including cocoa farming. It is estimated that more than 1.8 million children in West Africa are involved in growing cocoa. Major chocolate producers, such as Nestle, buy cocoa at commodities exchanges where Ivorian cocoa is mixed with other cocoa.

Read the full article

 

John Robbins: Is There Slavery In Your Chocolate?

Examiner: How Much Child Slavery Is In Your Chocolate?

Stop Chocolate Slavery

 

“It’s A Wonderful Lie”: 100 Years of the Federal Reserve Stealing American Wealth

“Ending the Fed would be the single greatest step we could take to restoring American prosperity and freedom and guaranteeing that they both have a future.” – Ron Paul

“This [Federal Reserve Act] establishes the most gigantic trust on earth. When the President [Wilson} signs this bill, the invisible government of the monetary power will be legalized….the worst legislative crime of the ages is perpetrated by this banking and currency bill.” — Charles A. Lindbergh, Sr. , 1913

“History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and it’s issuance.” — James Madison

Click Here If Video Below Has Been Censored By Bogus Copyright Claim

How the Federal Reserve and Congress ‘Loot’ Americans

The Federal Reserve Monster

The Great Monopoly In This Country Is The Money Monopoly 

End The Fed

“Let Me Tell You About The Very Rich. They are Different From You and Me.”

Via: quotecounterquote.com

In 1925, Fitzgerald wrote a short story titled “Rich Boy.” It was later published in a popular book of his short stories titled All the Sad Young Men (1936). The story begins with this passage:

“Let me tell you about the very rich.  They are different from you and me. They possess and enjoy early, and it does something to them, makes them soft where we are hard, and cynical where we are trustful, in a way that, unless you were born rich, it is very difficult to understand. They think, deep in their hearts, that they are better than we are because we had to discover the compensations and refuges of life for ourselves.  Even when they enter deep into our world or sink below us, they still think that they are better than we are. They are different.”

Full Article

 

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