Posted on 02/05/2014 5:32:42 AM PST by blam
Is Anyone Really Surprised That The System Is On The Brink Again?
Phoenix Capital Research
Zero Hedge
02/04/2014 15:07 -0500
We find it truly extraordinary that anyone is surprised the financial system is under duress again.
After all, what have the Central Banks accomplished in the last five years?
1) Did they clear out the bad debts that caused the 2008 collapse? NOPE
2) Did they implement structural reforms to insure another 2008 didn’t happen? NOPE
3) Did they punish fraud or corruption in any way to insure that the system was clean? NOPE
So what did they do?
They cut interest rates over 500 times and funneled over $10 trillion into the financial system, over 98% of which went to the very players (key banks) who nearly blew up the world in 2008.
And people are actually surprised that the system is back in trouble again? Would you be surprised if giving another shot of heroin to a drug addict who was in a coma didn’t bring him to health?
Honestly, did anyone think this would really work? I know that the connected elites loved it because the whole process allowed them to hand off their garbage investments to the public while leveraging up to acquire more assets via the Fed’s cheap money… but what about those who DON’T work for a top 20 global financial institutions? Did anyone actually believe this would work?
So here we are today, Europe’s already insolvent banks are now potentially on the hook for $3 trillion in Emerging Market investments.
When your entire banking system is leveraged at 26-to-1 it really doesn’t matter who you lend to… you’re bust. But in this case, the bad emerging market investments are just the icing on the rotten cake that is Europe’s banking balance sheets.
(snip)
(Excerpt) Read more at zerohedge.com ...
Punish?
NASA’s budget was 20 billion a year,
and the bankers were given 800 billion per whine
as they and the DNC/RINOs tanked America into debt
for generations.
With the money, they have bought stock and gold.
3) Did they punish fraud or corruption in any way to insure that the system was clean? NOPE
Socialists desire to practice legal plunder, not illegal plunder. Socialists, like all other monopolists, desire to make the law their own weapon. And when once the law is on the side of socialism, how can it be used against socialism? For when plunder is abetted by the law, it does not fear your courts, your gendarmes, and your prisons. Rather, it may call upon them for help. - Bastiat
Socialism Is Legal Plunder
http://bastiat.org/en/the_law.html#SECTION_G020
This is very interesting! I never thought about it this way.
The Lawyers’ Party,
By Bruce Walker
The Democratic Party has become the Lawyers Party.
Barack Obama is a lawyer. Michelle Obama is a lawyer.
Hillary Clinton is a lawyer. Bill Clinton is a lawyer.
John Edwards is a lawyer. Elizabeth Edwards was a lawyer.
Every Democrat nominee since 1984 went to law school (although Gore did not graduate).
Every Democrat vice presidential nominee since 1976, except for Lloyd Bentsen, went to law school.
Look at leaders of the Democrat Party in Congress:
Harry Reid is a lawyer. Nancy Pelosi is a lawyer.
The Republican Party is different.
President Bush is a businessman.
Vice President Cheney is a businessman.
The leaders of the Republican Revolution:
Newt Gingrich was a history professor.
Tom Delay was an exterminator Dick Armey was an economist.
House Minority Leader Boehner was a plastic manufacturer.
The former Senate Majority Leader Bill Frist is a heart surgeon.
Who was the last Republican president who was a lawyer? Gerald Ford, who left office 31 years ago and who barely won the Republican nomination as a sitting president, running against Ronald Reagan in 1976.
The Republican Party is made up of real people doing real work, who are often the targets of lawyers.
The Democrat Party is made up of lawyers. Lawyers produce nothing. In essence, they are scavengers, feeding off those who actually produce something. Democrats mock and scorn men who create wealth, like Bush and Cheney, or who heal the sick, like Frist, or who study and teach history, like Gingrich. The Lawyers Party sees these sorts of people, who provide the goods and services that people want and need, as the enemies of America.
Against whom do Hillary and Obama rail?....Pharmaceutical companies, oil companies, hospitals, manufacturers, fast food restaurant chains, large retail businesses, bankers, and anyone producing anything of value in our nation. This is the natural consequence of viewing everything through the eyes of lawyers. Producing nothing, they are parasites, surviving only by sucking blood from those who actually work. They then feather their beds by taxing those who produce and giving to those who do not, thereby winning votes. Lawyers seek to have new laws passed, they seek to win lawsuits, they press appellate courts to overturn precedent, and lawyers always parse language to favor their side.
Confined to the narrow practice of law, lawyers have a place in the market. But putting them in public office is an awful way to govern a great nation. When politicians as lawyers begin to view some Americans as clients and other Americans as opposing parties, then the role of the legal system in our life becomes all-consuming. Some Americans become adverse parties of our very government. We are not all litigants in some vast social class-action suit. We are citizens of a republic that promises us a great deal of freedom from laws, from courts, and from lawyers.
Today, we are drowning in lawyers; we are contorted by judicial decisions; we are driven to distraction by omnipresent lawyers in all parts of our once private lives. America has a place for laws and lawyers, but that place is modest and reasonable, not vast and unchecked. When the most important decision for our next president is whom he will appoint to the Supreme Court, the role of lawyers and the law in America is too big.
When House Democrats sue America in order to hamstring our efforts to learn what our enemies are planning to do to us, then the role of litigation in America has become crushing.
Perhaps Americans will understand that change cannot be brought to our nation by those lawyers who already largely dictate American society and business. Perhaps Americans will see that hope does not come from the mouths of lawyers but from personal dreams nourished by hard work. Perhaps Americans will embrace the truth that more lawyers with more power will only make our problems worse.
The United States has 5% of the world’s population and 66% of the world’s lawyers! Tort (Legal) reform legislation has been introduced in congress several times in the last several years to limit punitive damages in ridiculous lawsuits such as spilling hot coffee on yourself and suing the establishment that sold it to you and also to limit punitive damages in huge medical malpractice lawsuits. This legislation has continually been blocked from even being voted on by the Democrat Party. When you see that 97% of the political contributions from the American Trial Lawyers Association go to the Democrat Party, then you realize who is responsible for our medical and product costs being so high!
You should post that as a separate thread
All of those points show the interests of the Tea Party and Occupy Wall Street converging where the banks are concerned.
Interesting times.
All of those points show the interests of the Tea Party and Occupy Wall Street converging where the banks are concerned.
Interesting times
__________________
I have seen this coming for a while. They both have common enemies.
> Socialism Is Legal Plunder
That’s good. Needs to be on a bumper sticker.
I’ve always thought what you are saying to be the truth. That the reason we have a lot of problems with our political system is that it is a silver-spoon profession from the ground up, usually only consisting of lawyers and/or the mega-wealthy who usually have little or no concept of what it’s like to have to struggle like the average Joe if they came from an affluent background. When they pass laws, they pass it for the common folk and exempt themselves from it and don’t play by the same rules. For them, they can sidestep most problems with money and lots of it. They know how to game the system and they have plenty of fellow cronies to assist them in keeping their seat of power.
Time to put some “real”, normal, “walked a mile in your shoes” type of people into office. I’m seeing a lot of candidates that aren’t attorneys starting to run. I think that will annoy the status quo because they fear that they will be unseated by a “mere mortal”. I hope they are and I think they will be. People are tired of their games.
Print more money! Duh?
Well, at least the Pope is on-board with Obama now......sarc
Feb 4, 2014
Pope: ‘unjust’ unemployment can mean sin, suicide
By NICOLE WINFIELD
Associated Press
VATICAN CITY (AP) — Pope Francis extolled the benefits of sharing wealth with the poor on Tuesday, warning that “unjust” social conditions like unemployment can lead to sin, financial ruin and even suicide.
“When power, luxury and money become idols, they take priority over the need for a fair distribution of wealth,” he said in the short message. “Our consciences thus need to be converted to justice, equality, simplicity and sharing.”
I agree...and ping me
I want to email it to friends with the link leading back to a FR headline article. Thanks.
But they still managed to short gold at 11am with their fiat fractional reserve toilet paper.
We passed and ratified the “Original 13th Amendment” to the US Constitution 200 years ago, precisely because of this type of behavior. The Amendment basically REMOVED all Rights to vote and Citizenship for LAWYERS. Which means that NO LAWYER could ever hold any office of Trust.
bump tot the top
I think I’ll be plotting my ‘exit plan’ for the rest of the day.
Agree! Would love a link and a ping, please ;)
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