Flawed US Economic System Mathematically Guarantees Fraud.

[georgephillip]

It never ceases to amaze me how liberals advocate for expanded federal power then act shocked when the rate of cronyism, lobbying, quid pro quo, legal exemptions, and fraud explodes. This is the government liberals asked for.

Well no what liberal people are demanding is honest government, Pub.

Their real mistake is believing that honest government is possible under our current system.

And of course their other major mistake is believing that anyone in power in government is really a liberal (or a conservative for that matter).

How can honest government exist in a two party system when both parties compete for the favors of 1% of voters?
If we solve that problem by diminishing the power of government, how does that affect the power of private wealth to influence whatever vestige of government that's left?

 

[Publius1787]

I'm thinking the blame for the virus and the bad medicine is private wealth.

Gee, if we could just have public wealth instead huh? I kind of like the boom and bust cycle. Its a hell of a lot better than the death cycles experienced by those places where wealth wasn't private. In anycase, this is what private wealth has done for the world.

[ame=http://www.youtube.com/watch?v=jbkSRLYSojo]Hans Rosling's 200 Countries, 200 Years, 4 Minutes - The Joy of Stats - BBC Four - YouTube[/ame]

I couldn't help noticing your animation consists of data points labeled "countries."
Geographical regions composed of peoples with distinct political/economic interests containing public resources that have been redistributed over the last two hundred years for the enrichment of 1% of private citizens. Gee...maybe boom and bust and war and debt aren't all that great, after all?

All property is not theft; however, theft becomes possible only through property.

Funny, you ignored the increased life spans.

 

[Publius1787]

It never ceases to amaze me how liberals advocate for expanded federal power then act shocked when the rate of cronyism, lobbying, quid pro quo, legal exemptions, and fraud explodes. This is the government liberals asked for.

Well no what liberal people are demanding is honest government, Pub.

Their real mistake is believing that honest government is possible under our current system.

And of course their other major mistake is believing that anyone in power in government is really a liberal (or a conservative for that matter).

Limited constitutional government = more honest government. Big government = more corrupt government. Democrat or Republican, Socialist or Libertarian, no one can deny this fact.

 

[eagle1462010]

Unheralded Warnings from the Founding Fathers... | Gather

"Usury has existed for thousands of years, and may have been perpetuated by every worldly creed. Untold multitudes have died in the perpetual struggle against usury. Jesus Christ Himself was crucified soon after His famous demonstration at the temple of the money changers.

In a train of events that would eventually inspire the American colonies to revolution, a German-born embezzler, trained by his father in matters of money and trading that he could become a Rabbi, rose from a Jewish slum to become the present world's father of international bankers. He would change his name from Mayer Amschel Bauer to Mayer Amschel Rothschild.

Mayer Amschel Rothschild and his sons -- equally trained in unearned profit (usury) and its vital complements of corruption, subversion, and deceit -- would comprise the House of Rothschild, intervening upon production, consumer and government altogether, to amass, at the expense of everyone but the perpetrators, the greatest forfeitures of prosperity the world could know.

Thomas Jefferson speaking on the first attempt to establish a central bank in America:

"The system of banking is a blot left in all our Constitutions, which, if not covered, will end in their destruction. I sincerely believe that banking institutions are more dangerous than standing armies; and that the principle of spending money to be paid by posterity is but swindling futurity on a large scale."

"The end of democracy, and the defeat of the American revolution will occur when government falls into the hands of the lending institutions and moneyed incorporations."

"If the people ever allow the banks to issue their currency, the banks and corporations which will grow up around them will deprive the people of all property, until their children wake up homeless on the continent their fathers conquered."

James Madison speaking on the first attempt to establish a central bank in America:

"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 its issuance."

"If the people ever allow banks to issue their currency, the banks and corporations which will grow up around them will deprive the people of all property, until their children wake up homeless on the continent their fathers conquered."

I don't remember the first time I read that particular quote.
The first time I remember understanding what Jefferson meant was during the summer of 2008 when I was homeless and living beneath a bridge just west of downtown LA. My question is, if banks don't issue our currency, who does?

The Gov't does and is not charged by the Constitution. We shouldn't have to pay a fee to the bank JUST TO CREATE currency and then turn around and pay INTEREST on CREATING CURRENCY.......................

We get charged for something that shouldn't cost a cent, except in De-valuation of the dollar. Now we get that and have to PAY THE BANKS FOR IT..............

That's not saying that I believe that Congress or the POTUS is more responsible than the banks, as they are COMPLICIT IN WHAT THE FEDERAL RESERVE DOES................

Congressional oversite..........Yeah guys.........Give yourself 17 TRILLION...........We'll hide that for you and say the whole thing is about TARP.....................

 

[eagle1462010]

It never ceases to amaze me how liberals advocate for expanded federal power then act shocked when the rate of cronyism, lobbying, quid pro quo, legal exemptions, and fraud explodes. This is the government liberals asked for.

Well no what liberal people are demanding is honest government, Pub.

Their real mistake is believing that honest government is possible under our current system.

And of course their other major mistake is believing that anyone in power in government is really a liberal (or a conservative for that matter).

Limited constitutional government = more honest government. Big government = more corrupt government. Democrat or Republican, Socialist or Libertarian, no one can deny this fact.

Both sides are GUILTY..............

Both sides look the other way as the PONZI schemes hosed over the country. Whether it be the S & L Scandal, ENRON, Y2K, DOT COM, or the DERIVATIVES to an ALTERNATE UNIVERSE PROBLEM in 2008 and NOW.

Our Gov't no longer serves the people. They only serve themselves. PAID WHORES TO THE HIGHEST BIDDER....................

 

[georgephillip]

Well no what liberal people are demanding is honest government, Pub.

Their real mistake is believing that honest government is possible under our current system.

And of course their other major mistake is believing that anyone in power in government is really a liberal (or a conservative for that matter).

Limited constitutional government = more honest government. Big government = more corrupt government. Democrat or Republican, Socialist or Libertarian, no one can deny this fact.

Both sides are GUILTY..............

Both sides look the other way as the PONZI schemes hosed over the country. Whether it be the S & L Scandal, ENRON, Y2K, DOT COM, or the DERIVATIVES to an ALTERNATE UNIVERSE PROBLEM in 2008 and NOW.

Our Gov't no longer serves the people. They only serve themselves. PAID WHORES TO THE HIGHEST BIDDER....................

With the next Ponzi scheme waiting in the wings:

"Rates are low, credit is easy, underwriting is shoddy, and sales are booming.

"There’s your thumbnail sketch of today’s 'surging' auto market.

"It’s a carbon copy of the subprime mortgage fiasco that plunged the economy into recession 5 years ago. Now the same nightmare is unfolding in Cartopia, the emerging credit Shangri-la where anyone who can transport himself onto a carlot in an upright position can drive away in a shiny new vehicle no-strings-attached.

But how can this be happening, you ask?

"Didn’t the US Congress pass strict new regulations, like Dodd-Frank, to prevent the banks and finance companies from lending billions of dollars to borrowers who don’t have the ability to repay the debt?

"Not exactly.

"The fact is, the powerful auto lobby snuck in a neat little provision that exempted them from those nitpicky rules..."

Easy Lending to Risky Borrowers Makes a Comeback » CounterPunch: Tells the Facts, Names the Names

 

[georgephillip]

Gee, if we could just have public wealth instead huh? I kind of like the boom and bust cycle. Its a hell of a lot better than the death cycles experienced by those places where wealth wasn't private. In anycase, this is what private wealth has done for the world.

Hans Rosling's 200 Countries, 200 Years, 4 Minutes - The Joy of Stats - BBC Four - YouTube

I couldn't help noticing your animation consists of data points labeled "countries."
Geographical regions composed of peoples with distinct political/economic interests containing public resources that have been redistributed over the last two hundred years for the enrichment of 1% of private citizens. Gee...maybe boom and bust and war and debt aren't all that great, after all?

All property is not theft; however, theft becomes possible only through property.

Funny, you ignored the increased life spans.

My bad.
Private wealth provided the raw material for today's longer life spans, and the public trust (government) through progressive taxation turned private wealth into increased public longevity. It doesn't seem like increased life spans would have happened without a true public/private collaboration.

 

[SteadyMercury]

Have You Heard About The 16 Trillion Dollar Bailout The Federal Reserve Handed To The Too Big To Fail Banks?

According to the GAO audit, $16.1 trillion in secret loans were made by the Federal Reserve between December 1, 2007 and July 21, 2010. The following list of firms and the amount of money that they received was taken directly from page 131 of the GAO audit report....

This is very misleading claim, as anything would be taken from economiccollapseblog as source.

They never had 16 trillion in outstanding loans, the 16 trillion is the total of many much smaller loans made over that time period, many of them for as short as a day. It is the equivalent of you loaning me a dollar every day for a year that I pay back the net day, then you saying you loaned me $365. You did, but you never had an outstanding loan of more than a dollar.

From the same GAO report:

Table 8 aggregates total dollar transaction amounts by adding the total dollar amount of all loans but does not adjust these amounts to reflect differences across programs in the term over which loans were outstanding.

For example, an overnight PDCF loan of $10 billion that was renewed daily at the same level for 30 business days would result in an aggregate amount borrowed of $300 billion although the institution, in effect, borrowed only $10 billion over 30 days.

The total outstanding balance peaked at a bit over a trillion in the peak of the economic crisis, and was pretty much all paid back by 2010:

 

[william the wie]

SM, I disagree with you on one fact:

Regulation and therefore corruption is predicated on the assumption that equilibrium exists, which is false.

Madelbrot disproved that with Fractal Analysis and his proof can be found in his "The (Mis)behaviour of Markets"

Pre-von Mises the Austrian school used what would now be called proto-Chaotic to create a general disproof of equilibrium but did not identify the strange attractors that give the illusion of equilibrium.

Minsky demonstrated with complex numbers that equilibrium was not possible.

If you want economicintercept.com publishes such disproofs from time to time but for specific data series rather than a general disproof.

As long as a dominant strange attractor exists the illusion of equilibrium that supports corrupt regulation can be sustained. So, I don't think you can achieve your political goal.

 

[Publius1787]

I couldn't help noticing your animation consists of data points labeled "countries."
Geographical regions composed of peoples with distinct political/economic interests containing public resources that have been redistributed over the last two hundred years for the enrichment of 1% of private citizens. Gee...maybe boom and bust and war and debt aren't all that great, after all?

All property is not theft; however, theft becomes possible only through property.

Funny, you ignored the increased life spans.

My bad.
Private wealth provided the raw material for today's longer life spans, and the public trust (government) through progressive taxation turned private wealth into increased public longevity. It doesn't seem like increased life spans would have happened without a true public/private collaboration.

Exactly when did this public/private collaboration start with respect to increased life spans? Fin the year and go back on the chart. Then ask yourself who made all of that food.

 

[Publius1787]

Well no what liberal people are demanding is honest government, Pub.

Their real mistake is believing that honest government is possible under our current system.

And of course their other major mistake is believing that anyone in power in government is really a liberal (or a conservative for that matter).

Limited constitutional government = more honest government. Big government = more corrupt government. Democrat or Republican, Socialist or Libertarian, no one can deny this fact.

Both sides are GUILTY..............

Both sides look the other way as the PONZI schemes hosed over the country. Whether it be the S & L Scandal, ENRON, Y2K, DOT COM, or the DERIVATIVES to an ALTERNATE UNIVERSE PROBLEM in 2008 and NOW.

Our Gov't no longer serves the people. They only serve themselves. PAID WHORES TO THE HIGHEST BIDDER....................

How does this change the fact that expanded government is the cause?

 

[eagle1462010]

http://www.law.yale.edu/documents/pdf/cbl/fedgov_reply_foxbr.pdf

Supreme Court Case on the Federal Reserve forcing release of information.


Search - Supreme Court of the United States

The Clearing House Association L.L.C., Petitioner
v.
Bloomberg L.P., et al.
Docketed: October 26, 2010

By Bloogberg to the Supreme Court............Forcing disclosure of loans made.



Fed Will Release Bank Loan Data as Top Court Rejects Appeal - Bloomberg

Clearing House Association

“Fortunately, Congress was well aware of the sensitivity of disclosing this information,” the Clearing House Association said in its statement. “As part of the Dodd-Frank Act, Congress adopted a specific rule to ensure that in the future this confidential information will not be disclosed prematurely to the detriment of our financial system.”

The New York-based Clearing House Association, which has processed payments among banks since 1853, includes Bank of America NA, Bank of New York Mellon, Citibank NA, Deutsche Bank Trust Co. Americas, HSBC Bank USA NA, JPMorgan Chase Bank NA, U.S. Bank NA and Wells Fargo Bank NA.

In trying to shield the documents from disclosure, the Clearing House invoked a FOIA exemption that covers “trade secrets and commercial or financial information obtained from a person and privileged or confidential.”

The cases are Clearing House Association v. Bloomberg, 10- 543, and Clearing House Association v. Fox News Network, 10-660.

 

[eagle1462010]

Have You Heard About The 16 Trillion Dollar Bailout The Federal Reserve Handed To The Too Big To Fail Banks?

According to the GAO audit, $16.1 trillion in secret loans were made by the Federal Reserve between December 1, 2007 and July 21, 2010. The following list of firms and the amount of money that they received was taken directly from page 131 of the GAO audit report....

This is very misleading claim, as anything would be taken from economiccollapseblog as source.

They never had 16 trillion in outstanding loans, the 16 trillion is the total of many much smaller loans made over that time period, many of them for as short as a day. It is the equivalent of you loaning me a dollar every day for a year that I pay back the net day, then you saying you loaned me $365. You did, but you never had an outstanding loan of more than a dollar.

From the same GAO report:

Table 8 aggregates total dollar transaction amounts by adding the total dollar amount of all loans but does not adjust these amounts to reflect differences across programs in the term over which loans were outstanding.

For example, an overnight PDCF loan of $10 billion that was renewed daily at the same level for 30 business days would result in an aggregate amount borrowed of $300 billion although the institution, in effect, borrowed only $10 billion over 30 days.

The total outstanding balance peaked at a bit over a trillion in the peak of the economic crisis, and was pretty much all paid back by 2010:

LOL

Now add in the discount window data............

FRB: Press Release--Federal Reserve releases detailed information about transactions conducted to stabilize markets during the recent financial crisis--December 1, 2010

The Federal Reserve is committed to transparency and has previously provided extensive aggregate information on its facilities in weekly and monthly reports. As provided by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, transaction-level details now are posted from December 1, 2007, to July 21, 2010, in the following programs:

Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF)
Term Asset-Backed Securities Loan Facility (TALF)
Primary Dealer Credit Facility (PDCF)
Commercial Paper Funding Facility (CPFF)
Term Securities Lending Facility (TSLF)
TSLF Options Program (TOP)
Term Auction Facility (TAF)
Agency MBS purchases
Dollar liquidity swap lines with foreign central banks
Assistance to Bear Stearns, including Maiden Lane
Assistance to American International Group, including Maiden Lane II and III
Additionally, discount window and open market operation transactions after July 21, 2010, will be posted with a two-year lag.

The Supreme Court Ruling forced disclosure of the DISCOUNT WINDOW LOANS during the crisis...........At 0% to 1/4% loans the banks made to themselves..............

0% to 1/4% to themselves..............It must be nice to own the dang currency and banks of the United States of America.............Cranking out Trillions. Plenty there to buy off Congressmen and Senators.............

Our Gov't purposely tried to HIDE THIS SHIT.............Your post shows that it works.........I've found the hidden docs before from the GAO and Reserve. Looking again, as they don't want you to see it.

 

[eagle1462010]

GAO report. Page 144 discloses the amounts in the investigation. Required only after a Supreme Court Ruling under the Freedom of Information act. Filed by Bloomberg and another by Fox News....

GAO Fed Investigation

 

[eagle1462010]

Limited constitutional government = more honest government. Big government = more corrupt government. Democrat or Republican, Socialist or Libertarian, no one can deny this fact.

Both sides are GUILTY..............

Both sides look the other way as the PONZI schemes hosed over the country. Whether it be the S & L Scandal, ENRON, Y2K, DOT COM, or the DERIVATIVES to an ALTERNATE UNIVERSE PROBLEM in 2008 and NOW.

Our Gov't no longer serves the people. They only serve themselves. PAID WHORES TO THE HIGHEST BIDDER....................

How does this change the fact that expanded government is the cause?

It doesn't. It confirms it.

 

[georgephillip]

Both sides are GUILTY..............

Both sides look the other way as the PONZI schemes hosed over the country. Whether it be the S & L Scandal, ENRON, Y2K, DOT COM, or the DERIVATIVES to an ALTERNATE UNIVERSE PROBLEM in 2008 and NOW.

Our Gov't no longer serves the people. They only serve themselves. PAID WHORES TO THE HIGHEST BIDDER....................

How does this change the fact that expanded government is the cause?

It doesn't. It confirms it.

Do the owners of the Federal Reserve qualify as part of "expanded government" or private oligarchs in search of their next Ponzi scheme? For that matter, does the public know who owns the Federal Reserve?

 

[eagle1462010]

How does this change the fact that expanded government is the cause?

It doesn't. It confirms it.

Do the owners of the Federal Reserve qualify as part of "expanded government" or private oligarchs in search of their next Ponzi scheme? For that matter, does the public know who owns the Federal Reserve?

Private Oligarchs................

Most of the Public doesn't know this. I tell people about this and they don't have a clue. Even in the current data posted I had to dig a little to find the GAO source.

 

[georgephillip]

It doesn't. It confirms it.

Do the owners of the Federal Reserve qualify as part of "expanded government" or private oligarchs in search of their next Ponzi scheme? For that matter, does the public know who owns the Federal Reserve?

Private Oligarchs................

Most of the Public doesn't know this. I tell people about this and they don't have a clue. Even in the current data posted I had to dig a little to find the GAO source.

Going back a little further, to the origins of our current central bank, do you believe the following source is credible?

"It is now apparent that there might have been no World War without the Federal Reserve System. A strange sequence of events, none of which were accidental, had occurred. Without Theodore Roosevelt’s 'Bull Moose' candidacy, the popular President Taft would have been reelected, and Woodrow Wilson would have returned to obscurity.*

"If Wilson had not been elected, we might have had no Federal Reserve Act, and World War One could have been avoided.

"The European nations had been led to maintain large standing armies as the policy of the central banks which dictated their governmental decisions. In April, 1887, the Quarterly Journal of Economics had pointed out..."

"'The finances of Europe are so involved that the governments may ask whether war, with all its terrible chances, is not preferable to the maintenance of such a precarious and costly peace.

"'If the military preparations of Europe do not end in war, they may well end in the bankruptcy of the States. Or, if such follies lead neither to war nor to ruin, then they assuredly point to industrial and economic revolution.'"

CHAPTER EIGHT World War One [SECRETS OF THE FEDERAL RESERVE By Eustace Mullins]

 

[eagle1462010]

Do the owners of the Federal Reserve qualify as part of "expanded government" or private oligarchs in search of their next Ponzi scheme? For that matter, does the public know who owns the Federal Reserve?

Private Oligarchs................

Most of the Public doesn't know this. I tell people about this and they don't have a clue. Even in the current data posted I had to dig a little to find the GAO source.

Going back a little further, to the origins of our current central bank, do you believe the following source is credible?

"It is now apparent that there might have been no World War without the Federal Reserve System. A strange sequence of events, none of which were accidental, had occurred. Without Theodore Roosevelt’s 'Bull Moose' candidacy, the popular President Taft would have been reelected, and Woodrow Wilson would have returned to obscurity.*

"If Wilson had not been elected, we might have had no Federal Reserve Act, and World War One could have been avoided.

"The European nations had been led to maintain large standing armies as the policy of the central banks which dictated their governmental decisions. In April, 1887, the Quarterly Journal of Economics had pointed out..."

"'The finances of Europe are so involved that the governments may ask whether war, with all its terrible chances, is not preferable to the maintenance of such a precarious and costly peace.

"'If the military preparations of Europe do not end in war, they may well end in the bankruptcy of the States. Or, if such follies lead neither to war nor to ruin, then they assuredly point to industrial and economic revolution.'"

CHAPTER EIGHT World War One [SECRETS OF THE FEDERAL RESERVE By Eustace Mullins]

Had Teddy not ran, Taft would have been elected. Spoiler Candidate.................

Whether or not another would have later created the Federal Reserve is an unknown.............

The last to stop this was Andrew Jackson who stopped the Second National Bank of America.................Further back in history.................

As far as the War, I don't believe it would have stopped it...............Germany believed these lands were theirs and wanted to take them...............

 

[william the wie]

With a full court press from the Jeckyl Island cabal we were going to get a central bank.

As to war central banking was developed to finance war by the Dutch. when adopted by the Brits in the 1600s it created the largest empire in history.

Sure we could have avoided WWI once the Great Pumpkin was on the case.