By Numerian posted by Michael Collins
“This breakdown in the debtor-creditor relationship has been entirely of the banks’ making and has been encouraged by powerful interests, including the Federal Reserve, the main regulator of the big banks.” Numerian
Joe Nocera, financial columnist for The New York Times, had an interesting conclusion to his recent article on Bank of America:
I admit it: I want to see the banks feel some pain. Most people do, I think. Banks did terrible things during the subprime bubble, and they still haven’t paid any real price. I find myself rooting for judges to rule against banks in foreclosure cases. I would love to see these big investors put the serious hurt on Bank of America, which will encourage other investors to pile on. I know this colors my thinking. I can’t help it.
Yet I also know the flip side. If the foreclosure lawyers start winning a lot of cases, if judges halt foreclosures on a widespread basis, if investors start to extract billions upon billions of dollars from the banks — and if banks become seriously weakened as a result — we’ll be right back where we were two years ago. The banks will need to be saved for the good of the economy. The taxpayers will have to come to the rescue. That’s an appalling prospect too.
Banks: We can’t live with them, and we can’t live without them. It stinks, doesn’t it?
This brief flourish of disgust for the banking industry received a lot of attention, almost all of it favorable. Millions of Americans want to see “serious hurt” put upon the banks, especially the big banks that are in the Too Big To Fail category. Why do we hate the banks so?
By The Daily Bell
AlterNet published an article by the Southern Poverty Law Center mocking “the Right” for ten conspiracy theories. The Daily Bell responds to the charges below. When the Left agrees with the Right, the SPLC calls them both “extreme” — that is, anyone who doesn’t believe government propaganda and disinformation. This is a common psychological technique employed by governments and their agents: marginalize those who don’t go along with the program. ~ Ed.
Posted in 4th Estate, 911, Bioweaponry, Censorship, Constitution, Economy Economics, Energy, Environment, Human Rights Civil Liberties, Labor, Military, NWO, Prisons, Psy-Ops, Weather Modification
Tagged 911, african union, alternet, central banking, chemtrails, class war, disinfo campaign, EU, Fed, nafta, NAU, New World Order, one world government, psyops, southern poverty law center, splc
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By Mike Whitney
On Tuesday, the Fed announced that it will reinvest the proceeds from maturing mortgage-backed securities (MBS) into US Treasuries. The process is called Quantitative Easing. In theory, QE increases inflation expectations so that consumers spend more and rev up the economy. That’s the theory. But adding to bank reserves when the banks are already loaded to the gills, achieves nothing. It doesn’t put money in the hands of people who will spend it, generate more economic activity or increase growth. It’s a big zero.
What we are witnessing today is simply the entire foisted-upon-us “interdependency” idiocy coming home to roost. To repair and reform, we need to break out of the fascist trade and banking straight-jackets and rebuild local, national and regional freedoms – all according to real democratic processes and prerogatives.
Friday 07 May 2010 TruthOut
by: Kent Welton
Were there no European union there would be no Greek crisis beyond Greece, Greece would have retained its currency and paid its price for budget problems in the value of its currency.
But the stitching together of so many diverse countries and cultures into one unit, with one currency, has presented far more problems than it has solved and, worse, has removed national and cultural liberty, sovereignty, as well as necessary freedom for tariff-based re-balancing mechanisms.
As a result, we now have synchronized global pain and ruin serving to give the banksters more opportunities to gain evermore resources and power over our lives with their out-of-thin-air private money machines.
Worst of all is exactly this private central bank contagion, in which nations have given up their rights to create their own money and credit, and without interest if they see fit. The world-wide sovereign debt problem is essentially a private central bank, debt-money, problem. It’s the interest, stupid. Its the inevitable Kondratieff wave of debt-money.
Posted in COTO2 News, Economy Economics, Neoliberalism, NWO, Obama and Company
Tagged banksters, Debt, Fed, Global coup, Globalism, liberty, Ologopoly, Peonization, Power, sovereignty, WTO