William Bradford reminds us of a rather famous exchange from the time of the Great Depression:
Upon his capture in 1934, the legendary bank robber Willie Sutton was asked by FBI agents, Why do you rob banks, Willie? Sutton, who believed the question to be rhetorical, replied, dryly, Because that's where the money is.
I think it should be obvious that our national policy is going to have to start paying attention to the banks and the other financial institutions that are currently dominating our economy. That's where the money is.
At a time of economic crisis, when the nation is seriously contemplating a default on our debt, and when we are not currently paying for the things that we deem necessary for the common good (some of which actually are necessary for the common good), we are going to have to start taxing the financial transactions from which Wall Street and the banks are deriving their too great profits.
We are going to have to start taxing financial transactions because that's where the money is.
http://online.wsj.com/news/articles/SB10001424052702304066404579129102492582662
My thoughts are that we have to give the investment bankers and hedge funds that currently rule this planet a hair cut or you, your children like you, and your grandchildren after you will be slaves to these banks in a system of debt peonage that currently sinks the world in an ocean of unsecured debt in the form of toxic mortgage instruments called credit default swaps. There are over six hundred trillion dollars of CDS worldwide currently, it's what I call the Bottomless Pit; because it is biblical in the proportion of its size. See www.bis.org for the Bank for International Settlement in Switzerland, the only free country in world, a notion who system of commerce monetizes lies and deception. That's the current denomination of fiat currency that rules the world through fear. But I've learned through many years in and out of the world of politics that once you are afraid; that's when you loose. In a world where the only right we have left really is free speech I am not afraid to express my free speech rights through petition the courts, i.e., law suits. So I am suing the investment bankers who are trying to steal my home and duplex, I am suing the federal government for the California energy crisis and politicians giving our tax dollars to their political cronies, I am suing the state CPUC for not making PG&E pay me for my PV solar power produced since 2001, and I'm suing the City of Santa Cruz for stealing my money along with their co-conspirators at the SqCWD for their desal boondoggle too. Why? Because America is still a free country where free speech matters. My conclusion therefore is that America defaulting on its debt would be a great thing for the world because we would stop paying the investment bankers and hedge funds, and the Feds would stop printing eighty five billion dollars fiat currency a month to keep the "too big to fail" bankster's ponzi scheme alive. So pray for defaulting on the banks...I did in 2010 with bank and I am here to tell you don't be afraid or you loose they win.
ReplyDeleteTime to send the investment bankers to SuperCuts? Sounds about right!
ReplyDelete