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Forum Post: A Public Central Bank - On Reclaiming Our Central Bank And Monetary Policy -

Posted 11 years ago on Aug. 22, 2012, 4:36 p.m. EST by ExposeTheOligarchs (37)
This content is user submitted and not an official statement

"The money powers prey upon the nation in times of peace and conspire against it in times of adversity. It is more despotic than a monarchy, more insolent than autocracy, and more selfish than bureaucracy. It denounces as public enemies all who question its methods or throw light upon its crimes. I have two great enemies, the Southern Army in front of me and the bankers in the rear. Of the two, the one at my rear is my greatest foe." ~ Abraham Lincoln

Clearly, a public central bank is a subject many go to great lengths to avoid today. In fear for their status and position they quickly poo-poo the idea - and this, as if the founders were idiots!

Yet, in this crisis, for the first time in my memory we have more people now realizing the real nature of the problem - and so considering the very idea of a public central bank and returning to a Constitutional setup. Despite the massive debt and interest set upon the public the very malady-causing institution remains private and without audits of either institution or its mega-rich and powerful owners. To complete the coup, members of its own fed-owning institutions (Goldman-Sachs, et.al.) serve as "our" Treasury Secretaries in what is a massive conflict of interest and ongoing effort to forestall any public interest or power in their system.

Full Article here....


Expose the Oligarchy!!!



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[-] 5 points by LeoYo (5909) 10 years ago

A Union Reserve Bank can be established in the 24 ballot initiative states immediately freeing nearly half the country from the fed.


It's really all in the hands of the people if they should truly want it.

[-] 3 points by shadz66 (19985) 10 years ago

''Four Horsemen'' is one of the few documentaries that takes on the foundations of the modern world and does not fail to look at solutions.

To be honest, whether or not you think those solutions are viable may not be the most important thing to ponder here. It’s more about the awareness that solutions are at hand and I very much appreciated the optimistic undertone of this excellent film which I am recommending to you and all.

Ultimately, the film actually discusses a different model of progress beyond apocalyptic scenarios and makes the fact that we might soon have to 'swing on a thinner material hammock', seem less dramatic than it might sound. It’s about taking personal responsibility, a new way of clear thinking and last but not least self-education and organising accordingly. One never knows but one day, it might just help save our lives and make the lives of coming generations a lot better.

You'll get this LeoY but you'll have to hurry & watch as this link is not gonna be around for long before the same goons that have made ''Heist'' so hard to find, get there beady eyes on this link. Solidarity !

respice, adspice, prospice ...

[-] 4 points by LeoYo (5909) 10 years ago

Greg Palast: Why Are the Greek People Agreeing to Their Own Destruction?

Friday, 09 August 2013 00:00 By Michael Nevradakis, Truthout | Interview


In his career as an investigative journalist, economist, and bestselling author - Vultures' Picnic, Billionaires and Ballot Bandits, The Best Democracy Money Can Buy - Greg Palast has not been afraid to tackle some of the most powerful names in politics and finance. From uncovering Katherine Harris' purge of African-American voters from Florida's voter rolls in the year 2000 to revealing the truth behind the "assistance" provided by the International Monetary Fund and the World Bank to ailing economies, Palast has not held back in revealing the corruption and criminal actions of the wealthy and powerful. In a recent interview on Dialogos Radio, Palast turned his attention to Greece and to the austerity policies that have been imposed on the country by the IMF, the European Union, and the European Central Bank.

"To me, Greece is a crime scene," said Palast. "Greece is dying, and austerity is one of the things that killed it." He rebuked the recent proclamations made by Greek and EU officials deeming Greece an economic "success story," describing them as "nonsense."

"Austerity has destroyed Greece and the euro has destroyed Greece," said Palast. "Austerity in the middle of a recession is a death sentence."

One of the hallmarks of austerity programs is privatization. Palast, who has investigated the impact of privatization programs in Latin America, drew parallels between those countries' experiences and the demands now being imposed on Greece.

"You see the kind of brutal practices which were first tested on Argentina, Ecuador and Brazil brought to Greece with more severe consequences," said Palast. "You get ripped off. You still need water, you still need electricity. You privatize these things, you're still going to have to buy water and electricity, but now you'll pay a fortune to German and American and Canadian companies."

In his critique of privatization programs, Palast referenced Joseph Stiglitz, the Nobel Prize-winning economist who had been the World Bank's chief economist prior to being fired for expressing dissent against its policies. "[Stiglitz] called privatization 'briberization' because ... when we talk about privatization, we talk about a couple of guys who are close to the government in Greece, who are close to the German government, and they pick up the properties for next to nothing."

One of the biggest controversies in Greece over the past year has involved the Skouries gold mine. Originally transferred to private hands by the Greek state in 2004 for the paltry sum of 11 million euros, the mine has since come into the possession of the Canadian company Eldorado Gold, which has commenced mining activities. This has resulted in a vociferous grassroots movement, protesting the mine on both economic and environmental grounds. According to Palast, companies like Eldorado Gold prey on vulnerable countries. "What they do is, they wait for the moment where a nation is really weak and on its back, and has to give away its gold. Tanzania sold its gold mines for nothing under IMF pressure to Barrick Gold. They've made billions and billions and billions."

"Let's not kid ourselves," added Palast. "Nobody gets a gold mine without making a payoff to the powers that be. That's just how it is ... they're not privatizing, they're stealing your gold."

For Palast, the solution for Greece is to leave the Euro.

"You don't want to be in the euro, take my word for it," said Palast. "To stay in the euro zone is like saying we want to stay in the leper colony. The euro is a monstrous creation. The euro is not about having a happy trade zone. It's about imposing the elimination of the progressive state. The euro is the Fourth Reich ... and you have to give it up."

Palast drew upon the paradigm of several Latin American countries as examples that Greece could follow.

"The Argentines ... disconnected from the dollar; they told the creditors to go to hell and they are a booming economy," said Palast, adding that determined leadership is needed in Greece in order to accomplish this.

"The difference between Greece and Argentina is that the Greek people are gutless. Greek people are cowards by nature, whereas the Argentines are tough. I'm trying to push people to not give up. There's no one standing up against the euro. You had one independent party [Syriza] which completely caved in ... you do need that third voice." Such third parties, according to Palast, were able to attain electoral success in Latin America by saying no to the IMF and to policies imposing austerity and privatization. As a result, he argued, those countries' economies are now booming.

Palast was sharply critical of Germany for its role in the Greek crisis. "I keep saying that the Germans want to change the name of the euro to the Panzer. They're accomplishing through economic manipulation what they tried to do with tanks during World War II. You're going to become a German colony unless you get out of their currency."

Palast also had harsh words for Greece's political establishment. Describing Greece's two major parties, New Democracy and PASOK, as "indistinguishable," he stated: "Morally, the leadership of both main parties is equally responsible for lying to the people and causing massive harm to the public, and I think that they should be held accountable."

Palast cited the actions of Goldman Sachs and other banks in helping successive Greek governments hide the country's deficit."It was a fraud, and they charged almost a half a billion dollar fee to the Greek government to help it hide its deficits. Why would you hide your deficits? For a single reason: to stay within the euro."

Palast's harshest criticism was addressed towards Theodoros Pangalos, a prominent former government minister with PASOK. Palast recently interviewed Pangalos at the Eurasia Media Forum in Kazakhstan.

"I couldn't resist the temptation to interview him," said Palast. "He weighs about 300 pounds, he has a stomach that's about three feet ahead of him ... If someone's overweight, that's usually a personal issue, but in his case, it isn't, because you have people in Greece that are literally starving ... and he's saying that if you complain about austerity measures, you're a communist or an anarchist. You're not a communist or an anarchist: you're just someone that's trying to feed your kids."

"Pangalos has a phrase, 'We ate it all together'," added Palast. "No we didn't. He's fat, and other people are starving."

Palast urged the people of Greece to respond to the crisis by protesting the ongoing austerity measures. "Why are the Greek people agreeing to their own destruction? It's crazy! This is when you have to act. You cannot give up now ... I've seen successful movements formed around the world by people who thought their situation was hopeless."

Palast stated his desire to provide his support to Greece, while expressing his interest to hear from ordinary Greeks, in advance of his upcoming visit to the country in September.

"I would like people to contact me and give me their stories, their ideas, their information, and when I come to Greece, I want to meet you and speak with you. I would like to really speak with people about what the people of Greece think are the best solutions. Let's work this out together, and I will bring the best minds in the field of economics to your side, to discuss how movements are formed."

Copyright, Truthout.

[-] 4 points by LeoYo (5909) 10 years ago

Thanks for that. I was surprised to see the film makers' awareness about taxing consumption instead of production. Most people just don't get it and even oppose it in order to pursue a desire to 'soak the rich' so to speak.

I think that the Union Reserve Bank is perhaps the most important thing that OWS should pursue as it is purely a task of the people to establish, bypassing any opposition from the elected corporaticians and transcending any partisan affiliations. The 23 ballot initiative states without state banks can establish them while all of the municipalities throughout the country can establish their own public banks and utilize the creation of Union Reserve Notes as a parallel currency. Add to that the patronage of a national credit union and mutual insurance company, the predatory elite will be defanged.

[-] 1 points by shadz66 (19985) 10 years ago

I am a big fan of Greg Palast and the quote from above : "Morally, the leadership of both main parties is equally responsible for lying to the people and causing massive harm to the public, and I think that they should be held accountable." - made me smile wearily. Even though it was said by GP of the Greeks it clearly applies inter alia - in The U$A & UK too.

Re. ''The Four Horsemen'', for a selection of clips and interviews that did not make the final edit, please also see : http://www.fourhorsemenfilm.com/video/ and any links that you may care to recommend re. ''the Union Reserve Bank'', would be appreciated & further to your comment, I append and cross link the following here for consideration :

e tenebris, lux ...

[-] 2 points by LeoYo (5909) 10 years ago

There are no links for the Union Reserve Bank other than links to my own posts.

9.The separation of corporation and state being necessary for the independence of a democratic government in serving the needs of the people, no public service shall be under the management of a private sector entity and each State of the United States shall have a state bank collectively forming the Union Reserve Bank of the United States with a state appointed bank official from each State to compose the Union Board of Governors exercising all the responsibilities of the Open Market Committee.


The Liberty Bill amendment for a Union Reserve Bank in particular can be publicly pursued to form an interstate cooperative of public banks that utilize Union Reserve Notes instead of Federal Reserve Notes thereby allowing the state economies of the affected public to be independent of the corporate owned Federal Reserve Bank.


Politicians, being of the same class of people as the elites are never going to act in the best interests of the People. Only the people of the 23 remaining ballot initiative states can establish their own state banks that with the Bank of North Dakota can form the Union Reserve Bank and only the people of municipalities throughout the country can establish their own public banks. No politicians or political parties can prevent them from doing that. Once any number of state banks can form the Union Reserve Bank, the economic differences between them and the rest of the national economy will become apparent perhaps resulting in a demand from the citizens of the other states to make the Union Reserve Bank national, especially if those citizens have already established their own municipal public banks.

When the private banks no longer have the power, their criminal elites will no longer have the government protection to avoid justice.

There simply has to be a political campaign in each ballot initiative state to establish state banks and throughout the country to establish municipal banks. It could be accomplished within the next two years. It won't happen any other way.

Since it doesn't involve politicians or political parties and it does protect the public by taking a significant amount of power away from the 1% Wall Street elite, I can only wonder why such an endeavor is not a priority for Occupy.

[-] 4 points by shadz66 (19985) 10 years ago

''Occupy Shocker : A Realistic, Actionable Idea - From the West Coast, the Move for Public Banking Is Within Reach'', by David Wiedner :

In some ways, the Bay Area's Occupy movement is a cheap imitation of the Wall Street version.

Camps are more like parties. There's hip-hop music blasting. The smell of pot smoke is noticeable, and on school days the Berkeley camp thins as students choose classes or sleeping in over conflict.

For all the faults, though, protesters in the Bay Area, especially Occupy San Francisco, have something their East Coast neighbors don't: a realistic plan aimed at the heart of banks. The idea could be expanded nationwide to send a message to a compromised Washington and the financial industry.

It's called a municipal bank. Simply put, it would transfer the City of San Francisco's bank accounts — about $2 billion now spread between such banks as Bank of America Corp., BAC, UnionBanCal Corp. and Wells Fargo & Co WFC — into a public bank. That bank would use small local banks to lend to the community.

Backers of the plan aren't using a reckless approach. They're proposing a three- to five-year transition period and the relocation of just $500 million initially. It would be chartered as a credit union, member-owned and insured.

To keep everyone honest, small banks that get money from the credit union would be required to participate in what are called partnership loans, putting their capital next to taxpayer money, in an effort to get their skin in the game.

The end result: "low-interest, long-term loans for projects located in San Francisco," according to a proposal made by the San Francisco Community Congress, a group linked with the area's Occupy protests.

So far, the proposed Credit Union of San Francisco has gained traction among a few of the city's politicians, including John Avalos, a city supervisor who recently finished third in the city's mayoral race to Ed Lee.

Mr. Avalos began thinking about municipal banks about three years ago, after speaking with Karl Beitel, a researcher with the local teachers' union. Mr. Avalos didn't pick up the idea again until earlier this year, but he asked a city legislative analyst to study it. A report was issued in August.

A few weeks later, as the city's mayoral race went down to the wire, Mr. Avalos was deep into his campaign, working 12 hours a day when he was asked to give a speech to a group downtown.

"I didn't know there was even an 'Occupy' protest going on," he recalls. "That's how out of touch I was."

Mr. Avalos talked to more than 1,000 protesters outside the Bank of America building about municipal banking. He got big cheers and probably a few votes. He lost to Mr. Lee based on absentee votes.

Municipal banks aren't a new idea. They've just stayed off the radar as big, private banks have consolidated, grown and pressured state and local governments to keep banking jobs in the community. San Francisco activists pushed for a similar bank as far back as 1975.

But the financial crisis and the vocal opposition to the industry have thrust the idea of public banking back into the debate. Proponents argue that big banks often abandon markets because they deem them as unprofitable or risky. In effect, they say, San Francisco's capital is used to finance developments in Florida or even Finland when the city's deposits are held by global financial institutions.

In contrast, municipal banks would keep profits and investment in the community.

Proponents also point to the Bank of North Dakota, a state bank founded more than 90 years ago by farmers upset with Eastern banking practices. The bank, with $4 billion in assets, is run by the state, earning taxpayers more than $61 million last year. In 2008, North Dakota's bank reported a profit of $57 million, while Bank of America had a $1.2 billion net loss.

Creating a municipal bank won't be easy. California law forbids using taxpayer money to make private loans. That would have to be changed. Critics also argue that San Francisco could be putting taxpayer money at risk.

"It's still in the idea phase," Mr. Avalos concedes.

But in the short term, Mr. Avalos sees opportunities. In February, the city treasurer will begin soliciting new bids for city bank accounts. Mr. Avalos and other officials are requesting that part of the bid include bank promises on community lending, social responsibility and clear policies regarding lending practices to consumers, including foreclosures.

It might not be a gun to the head of banks, but it wouldn't have happened without the support of Occupy San Francisco.

"The work I'm doing and Occupy is doing are parallel," Mr. Avalos says. "If we work together, we'll have more power to create change.

"There are a lot of public officials not unlike myself who are frustrated. There's mistrust [on the public's side] about how to interact with government. It's an early stage. Everyone wants to see greater accountability, and here are allies in government that can help create it."

Government officials in New Mexico and Santa Cruz, Calif., recently switched banks based on their local record. But San Francisco's nascent municipal-bank movement is the boldest institutional stroke yet against banks targeted by the Occupy movement.

"We have an opening now," Mr. Avalos says. "Social change is happening. Occupy Wall Street is a big part of that bubble, that change. We may see change in how we structure our economic system, and I'm really excited about that."


veritas vos liberabit ...


I copy this Dec. 2011 article, under 'Fair Use' from the link above, as it goes to the heart of what you say re. 'Public Banking'. I extracted the article from a link embedded here :

Occupying Public Banking - goes right to the heart of all things 'Occupy' and it is a developing Occupy meme. It attacks Wall Street right where it hurts and thus we can expect maximum MSM smoke and mirrors and pro-corporate bankster, double speak and dissembling on the matter in future.

The upcoming generation has to discover theses ideas and run with them. Thanx Leo for all your posts and comments on the matter of 'Public Banking'. This thread and important forum-post is as good a place to start as any for information on this matter & further to the two links above, I again append :

radix omnium malorum est cupiditas ...

[-] 1 points by shadz66 (19985) 10 years ago

"What we must remember is that what is behind much of the wars, the hunger, the suffering and strife is an economic and banking system, worldwide, that exploits the many at the hands of the few." Amen and using this essential comment by bw on this thread to cross fertilise this important thread by 'EtO' with this one by you LeoYo :

One never knows for sure but one hopes that someone, somewhere at sometime - may read, realise and repeat what they may encounter here for the betterment of all. Hubris much lolol ?! Solidarity !!

per aspera ad astra ...

[-] 4 points by enough (587) 10 years ago

Too bad we have a bought-off congress and president, who protect their benefactors on Wall Street at every turn. The big banks should have never been bailed out. Now they are bigger and more arrogant than ever before. The banksters have learned that they are untouchable because the Federal Reserve, the U.S. Treasury, the U.S. Justice Department, and market regulators consider bringing them to justice for criminal fraud and criminal negligence a systemic threat to our financial system. Actually, that is simply an excuse to protect their financial contributors and everybody knows it. Meanwhile, Main Street Americans have suffered the consequences of Wall Street greed and are beyond angry that the elitists who inflicted ongoing economic damage on them remain above the law and continue to prosper at our expense.

[-] 3 points by BradB (2693) from Washington, DC 10 years ago

Looks Great ... study it tonight ..

[-] 3 points by shadz66 (19985) 10 years ago

''The Bank of North Dakota, the nation’s only state-owned bank, has posed no risk to depositors or the state’s taxpayers in nearly a century of successful operation. Further, in this latest recession it has helped the state achieve a nationwide low in unemployment (3.2%) and the only budget surplus in the country. Meanwhile, the recent wave of bank scandals has shifted the focus to whether local governments can afford to risk keeping their funds in Wall Street banks.

''The question today is whether cities and counties can afford not to set up their own municipal banks, both to protect their money from confiscation and to take advantage of the very low interest rates and other perks available exclusively to the banking club. A government that owns its own bank can keep the interest and reinvest it locally, resulting in government savings of an estimated 35% to 40% just in interest. Costs can be reduced, and taxes can be cut or services can be increased. Banking and credit can become public utilities, sustaining the local economy rather than mining it for private gain; and banks can again become safe places to store our money.'' from :

No end of ''study'' on this matter Brad and all roads lead to North Dakota ;-)

dum spiro, spero ...

[-] 2 points by shadz66 (19985) 10 years ago

Re. Public Banking, also for perusal :

fiat lux ...

[-] 3 points by inclusionman (7064) 11 years ago

Expose the Oligarchs!! Start public banks/grow consumer unions

End the Fed


[-] 3 points by shadz66 (19985) 11 years ago

Re. 'OWS', 'Banking and Banksterism' is THE Key Issue around which almost everyone from Anarchists, Socialists, Liberals, Conservatives and Libertarians & many points inbetween can unite around ... and 'The 0.01% Parasite Class' know it !!!

When money drives almost all activity on the planet, it's essential that we understand it. Yet simple questions often get overlooked - questions like : Where does money come from ? Who creates it ? Who decides how it gets used ? And what does that mean for the millions of ordinary people who suffer when money and finance breaks down ?

People should have an opportunity to bank with ethical and perhaps publicly owned banks. The very best ethical practices should be present in the 'market place' and should be encouraged, incentivised, promoted and rewarded 'in the market place' so We, The People - The 99% - can make informed choices and arguably only 'Publicly Owned Banks' can do this - which is exactly why The Infernal Banksters will fight this idea tooth and nail !!!

Further, some other points on the matter of 'Publicly Owned Banks', which would allow :

1) The Democratic Accountability & Oversight over such behaviour as led to The 2008 Financial Crisis ;

2) Prevention of a culture of short-termism, 'moral-hazard', 'perverse incentives' and 'regulatory capture' ;

3) Profits to be ploughed back into "Society" rather than to 'private shareholders' (Foreign or otherwise) ;

4) Driving out 'bad banking practice rewarding greed' and favour & instil 'ethical' practices and behaviour ;

5) Genuine rewarding of savers - NOT fleecing them and driving them towards 'sharks' ;

6) A far more fair, rational, longer-term & more socially responsible outlook for lending ;

7) The urgent reintroduction of 'Glass Steagal' and a "Financial Transaction/Tobin Tax" ;

8) Reigning in dubious practices ("Innovative Financial Products" - CDOs, CDS's, 'Mortgage Backed Securities', et al & fraudulent behaviour - Bernie Madoff, Jon Corzine/MF Global, PMF, 'LIBOR' etc ;

9) Re-instilling Public Confidence by Accepting / Realising that Banking & Financial Services can NOT just be left to 'Selfish Short-Term Profit Motives' & Banking to be seen as a 'Strategic Public Utility', & ...

10) Have you ever heard of 'The State Owned "Bank Of North Dakota" ? & IF NOT, then why not d'you think ? ( http://en.wikipedia.org/wiki/Bank_of_North_Dakota and http://banknd.nd.gov/ ) ;

There is some degree of overlap in my points and almost guaranteed that one could argue the toss, so I end with something more substantial to read, reflect and ruminate upon :

radix omnium malorum est cupiditas ...

[-] 3 points by inclusionman (7064) 10 years ago

A new bit on public banking to resurrect this good concept/post.



[-] 2 points by shadz66 (19985) 10 years ago

"The politics depends on us.

"Wall Street interests will oppose public banking, of course, and their lobby is overwhelmingly powerful. But banking lobbies have been defeated before. Let’s hope it doesn’t take another crisis – or worse – to create the political will to fight them.

"Public banking isn’t complicated.

"Fundamentally, this isn’t a complicated idea. It boils down to a very simple principle: We control our currency, and for too long we’ve ceded that control to corruptible private parties.

"Private-sector bankers should run banks, not the economy. Public banking can help to reinvigorate economic growth while restoring balance to our financial system."

Excerpted from your excellent link. Thanx & also fyi :

fiat lux ...

[-] 3 points by inclusionman (7064) 10 years ago

Excellent description of bankster power/control. (like the StarWars ref)

I have said we ought to punish banks (for the crimes of the crash) by forcing abolishment of at least 50% of high interest credit card principle for working class borrowers. Also cap interest at 9%, Fees penalties cut to 5-10 bucks,

In addition I support building up public bank/consumer union lending industries to be real competitors. That means govt (Fed?) capitalizing them over big banksters. And encourage these small banks to take over debt at much lower rates.

Imagine if these smaller institutions were really competitive when banksters mugged us by saying all lending will stop during the crash in 2008.

Certainly I don't really have the answers and my suggestions are long shots to achieve but we must agitate for real change in the bankster cartel.

Thx as always

[-] 3 points by shadz66 (19985) 10 years ago

There's no option to constant agitation and education in the hope that enough of us will come together and start to organise and I also append :

From which I excerpt : "In America and everywhere in the Western world or the entire world, telling the truth is unpopular. Indeed, in the USA telling the truth has been criminalized. Look for example at Bradley Manning, held for two years in prison without bail and without a trial in violation of the US Constitution, tortured for one year of his illegal confinement in violation of US and international law, and now put on trial by corrupt prosecutors for aiding “enemies of the US” by revealing the truth, as required of him by the US military code. US soldiers are required to report war crimes. When Bradley Manning’s superiors showed themselves to be indifferent to war crimes, Manning reported the crimes via WikiLeaks. What else does a soldier with a sense of duty and a moral conscience do when the chain of command is corrupt?

"Julian Assange is another example. WikiLeaks has taken up the reporting function that the Western media has abandoned. Remember, the New York Times did publish the Pentagon Papers in 1971, which undermined the lies Washington had told both to the public and to Congress to justify the costly Vietnam War. But today no newspaper or TV channel any longer accepts the responsibility to truthfully inform the public. Julian Assange stepped into the vacuum and was immediately demonized, not merely by Washington but also by left-wing and right-wing media, including Internet. It was a combination of jealousy, ignorance, and doing Washington’s bidding. Without WikiLeaks and Assange the world would know essentially nothing. Spin from Washington, the presstitute media, and the puppet state medias would prevail. So the word went out to destroy Julian Assange.

"In contrast with “freedom and democracy” US and UK, the “authoritarian,” “communist,” “oppressive” Chinese government when confronted with Chinese dissident Chen Guangcheng’s defection to the US embassy in Beijing, let him go. It is an upside down world when America and the British refuse to obey international law, but the Chinese communists uphold international law."

e tenebris, lux ?

[-] 3 points by frovikleka (2563) from Island Heights, NJ 10 years ago

Yes I totally agree, "There's no option to constant agitation and education..."


[-] 1 points by shadz66 (19985) 10 years ago

"The Economy Unites Us: What’s wrong with the economy and how we can fix it", by Margaret Flowers and Kevin Zeese :

"Democratized economic institutions are being put in place throughout the world and support for a democratized economy is growing within the US. Given the current risks for another recession or perhaps another crash in the US, these systems may serve as protection from increased poverty that would otherwise be the result."

Solidarity @ The 99% struggle.

per ardua ad astra ...

[-] 2 points by frovikleka (2563) from Island Heights, NJ 10 years ago

I woud have expected something like this from the cons, but for this to be Obama's plan, Wow, it's outrageous!


[-] 2 points by shadz66 (19985) 10 years ago

I'm assuming your reply was to Richard Eskow's excellent article above. For your further consideration in due course, I append the following 'cause it sits so well here & 'cause it goes to the heart of matters :

Consider : "The future lies in building bridges within and between the millions of exploited, excluded and dispossessed who have lost everything and have finally recognized that only via the class struggle can they recover their humanity and a dignified standard of living."

pax, amor et lux ...

[-] 2 points by frovikleka (2563) from Island Heights, NJ 10 years ago

Buiding Bridges both within and outside of Occupy will be paramount to our success

While the divides that we have had with many of the groups we will need in our struggle were promoted by the corrupt neoliberal system

We cannot honestly go on, until we recognize our own culpability in having abandoned mostly minorities who felt the extemely detrimental consequences of this system long before most of us of 'white privlege' did

When these wounds are healed and they will be, our opponents will be dealing with a very formidable foe

The community Beyond The Bars workshop that i attended at Columbia University last week which dealt with immigration, incarceration and the negative effects it had on society was proof positive to me that good people from all walks of life are working hard to see that those wounds get healed

Professor Petras summation to his article reminded me of another closing to a speech, first Petras again, "The future lies in building bridges within and between the millions of exploited, excluded and disposessed who have lost everything and have finally recognized that only via the class struggle can they recover their humanity and a dignified standard of liiving."

Now Rose Scheiderman's closing to a speech she made at the Old Metropolitan Opera House on April 2nd, 1911. "I know from my experience it is up to the working people to save themselves. The only way they can save themselves is by a strong working-class movement."

Then a few days ago Frontline aired a comprehensive doc on how the Drug Wars (not available on line yet) targeted minorities from the beginning, and it showed how inner city communities were being torn apart by policies that did far more harm than they did good

Anyway Ms. Scheiderman's prescription for her stuggle's success transcends time as evidenced by Professor Petras recent composition

We should heed their advice if we ever hope to overturn the "class struggle" that has been waged on us


[-] 2 points by shadz66 (19985) 10 years ago

Many thanx for this thoughtful and thought provoking reply and I again submit your important link :

Furthermore, your bold quote in bold ;-) deserves repetition and real reflection :

  • "I know from my experience it is up to the working people to save themselves. The only way they can save themselves is by a strong working-class movement." (Rose Scheiderman, 1911)

Therefore, accordingly I am appending herewith :

Solidarity @ you, yours and all @ OTS & OWS.

dum spiro, spero ...

[-] 2 points by frovikleka (2563) from Island Heights, NJ 10 years ago

Thanks shadz for that great link. I like the way that Mr Alpervitz presented the options of the different kinds of political systems, stating both the possible pros and cons, as well as the possibiltiy of hybrid systems

He seems to be in the same place as I am in at this point, as he seems to know that "capitalism" is not worth saving, and we should start looking for something new

Having "capitalism run amuck like it has, hence having caused so much pain world-wide has served to create the 'crisis' we are in, and the opportunity we need to make the changes we must,

The reasons though for looking for alternatives go far beyond economic and political ones alone, but also into the most important one, and that is having a sustainable world where we can have a healthy environment, and

The fact that near double the people have looked up the terms "capitalism" and "socialism" in the 2012 Merriam Webster's on line dictionary is a good sign that people are beginning to look at not only "socialism" in a new light, but the need alone to do 'something,' as to do 'nothing' is no longer an option

That combined with the fact that people between the ages of 18-29 have a "favorable reaction to the term "socialism" by a margin of 49 to 43% ...well that portends very well for our struggle

In order for us to get the broad-based support that we need, and to change the dialogue, we must keep this a non-partisan movement,

Otherwise we will just be reviving the hate-filled politics of the past that has got us to where we are now, and will hinder us in moving forward, and having the 'climate' we need in searching for and implementing the new ideas to address the dire straits we are in

Solidarity - ~Odin~

Edited 4/18/13 - this link added from an April, 2012 post


[-] 3 points by shadz66 (19985) 10 years ago

Yes, "the fact that people between the ages of 18-29 have a "favorable reaction to the term "socialism" by a margin of 49 to 43% ...well that portends very well for our struggle" and thanx for your link and thought provoking comment. I reply with & strongly recommend this half hour of very interesting audio :

fiat lux et fiat justitia ...

[-] 4 points by frovikleka (2563) from Island Heights, NJ 10 years ago

Thanks for the audio interview with Francis Wheen, the biographer of Karl Marx. It was very enlightening to me.

The "proletariat" is awkening to the emergence of slimey "capitalism" and the detrimental effects of "exploitation and alienation" that it promotes

"Take Heart' shadz in knowing that many of the people that are close to the heart of our rev are bright and determined

One OWS 'projectionist' (?) who through consensual agreement changed their plans on a 'dime' after the recent (April 15th Tax Day) tragedy, at the Boston Marathon

Said OWS's own 'Lucky', "We remembered how there was this unified moment of 9/11 that quickly became a culture of fear and a culture of war"

"...the collective decided the message should change into something people could unite around"

"To take those symbols of rivalry [Yankees vs Red Sox] and unite them and show that we are here in unity. It was a really beautiful moment."

This lovely young man who was educated down the road from you shadz at Cambridge is typical to the Occupy that I know,

And the fact that you are very likely to find him in an old dilapidated warehouse at night working on OWS projects with other bright dedicicated OWS people ....(where i found him one night when I escorted a young woman there)....after working as a cancer researcher at a prestigious uni hospital during the day ... well that should be 'heartening' to all of us

Just as his parents were 'Lucky' to have him as a son, we are extrememly 'Lucky' to have him and so many other people like him on our side

I feel honored to have called him a friend for the past 18 months now, and I still owe him a one more promised pitcher of lager for having given up his freedom for our cause



Many thanks to the Verizon Corporation for ....errr letting us project our past messages on the side of their building....lol

[-] 1 points by shadz66 (19985) 10 years ago

I highly recommend the NPR interview with Francis Wheen as well as your excellent link. Thanx again for the heart centred report from the front lines. Big Style Solidarity @ you & OTS :-) & back on point :

veritas vos liberabit ...

[-] -2 points by factsrfun (8310) from Phoenix, AZ 10 years ago

Who do you think sent me this?

odinson No Profile Information

Private Messages

send message

odinson said 11 hours ago at April 17, 2013, 5:02 p.m. EST (delete) You're outa luck, Senate 54 to 46....Ya lose!!!


Joined April 16, 2013


[-] 2 points by frovikleka (2563) from Island Heights, NJ 10 years ago

I'll need it, luck that is...I know, but just as I am sure you are well aware of the unusual quirks/weaknesses of 'Flat-Landers,' I too have become a student of 'Woodchucks' ...;-)

Hence, my all-out efforts in trying to convert you will start on the first day of hunting season


[-] 2 points by frovikleka (2563) from Island Heights, NJ 10 years ago

I suspect you are right, as creating division on here is something that is unfortunately a big part of why some people are here

I will do my best to see that does not happen between us, all the while of course trying to bring you around to may way of thinking

I would expect nothing less from yoo too...;-)



[-] 1 points by quantumystic (1710) from Memphis, TN 10 years ago

you ready? got seed?


[-] 1 points by quantumystic (1710) from Memphis, TN 10 years ago

CISPA cybersecurity bill approved by the House of Representatives http://www.youtube.com/watch?v=iaNgddLyiA0


[-] 1 points by frovikleka (2563) from Island Heights, NJ 10 years ago

Replying here. Thanks Zen, you have my word that was not from me. For better or worse, only one pseudoynm for me.



[-] -2 points by factsrfun (8310) from Phoenix, AZ 10 years ago

I agree a fella that once went by odin, I think, I believe he calls himself frovileka or some such shit now


[-] 1 points by shadz66 (19985) 10 years ago

So you think some moniker usurper like this ''odinson'' points to it being Odin ?!!! Then you think that whining to me is warranted despite our recent contretemps on : http://occupywallst.org/forum/president-obama-dont-cut-social-security/ ?!! Are you for real ?!

Read and meditate upon what Zendog has said here and read Odin's comment above. IF you are still none the wiser, don't hesitate to seek urgent medical help. I'll diagnose your need for that straight from your own words : http://occupywallst.org/forum/president-obama-dont-cut-social-security/#comment-959110 and leave it at that. So much for your facts being fun and don't bring your petty personal prejudices to me again or else I may get petty and personal !!

verum ex absurdo ...

[-] 0 points by factsrfun (8310) from Phoenix, AZ 10 years ago

so you're sexiest too, thinking only women can be little bitches? this will be fun, saddle up



[-] 1 points by shadz66 (19985) 10 years ago

Hey factsRfukt ! Are you trying to measure up ?!! I'm about 6" but as per your links - it could be more about girth and staying power than just frequency !!! Grow up or fuck off or both but mos def, seek help.

From the link : "We do not live in a true democracy. We live in a country controlled by corporate interests and wealthy individuals. They are the rulers and they determine who does and doesn’t serve in public office and what those people can and cannot do. They choose the politicians before we know their names and Barack Obama is exhibit A in that regard. There is a nationwide casting call made up of rich, influential people who give a thumbs up or down to potential presidential candidates. The people who promise to work on their behalf get the yea vote before anyone votes in Iowa or New Hampshire. That is how the ruling class works."

veritas vos liberabit ...

[-] -2 points by factsrfun (8310) from Phoenix, AZ 10 years ago

A threat?

Bring it on you little bitch

[-] 1 points by shadz66 (19985) 10 years ago

You may wish to fantasize that I'm a chick and that may be how you speak to women but please stop parading your piss poor manners and/or your mental instability on this forum and try to stay on topic :

Now hush your toilet mouth, STFU & go do some reading cos your facts-R-fukt & stinkles r all u've got !

fiat lux ...

[-] 2 points by frovikleka (2563) from Island Heights, NJ 10 years ago

Gee shadz the content in that link could be a blue-print in moving forward to the world we need. Thanks and Solidarity....


[-] 2 points by shadz66 (19985) 10 years ago

Here's a dark corollary : "7 Chilling Facts About Retirement in America That Should Make Obama Tremble Before Cutting Social Security and Medicare" :

"Obama's plan would be economically irresponsible, socially disruptive and morally repugnant."

e tenebris ...

[-] 3 points by frovikleka (2563) from Island Heights, NJ 10 years ago

I hope more people wake up to the fact that Obama is not our savior, but rather just another one in now a long string of Presidents who have signed onto the neoliberal policies that prioritize corporate and banking interests over our's



[-] 2 points by shadz66 (19985) 10 years ago

"Obama’s Social Security Cuts Are Our Wake-Up Call", by Richard Eskow :

Thanx for your comment with which sadly, I'm forced to totally agree. Solidarity.

pax ...

[-] 2 points by inclusionman (7064) 10 years ago

Your right. Andthere are many people challenging our stifling conytol of info like Aaron Swartz and others.


but we gotta keep pushing.

[-] 1 points by shadz66 (19985) 10 years ago

RIP Aaron Swartz & as ever, we must educate, agitate and pray that we start to organise :

dum spiro, spero ...

[-] 2 points by inclusionman (7064) 10 years ago

Land value tax,& basic income, are excellent ideas that would go a long way to correct the war on the poor,sick, & elderly that the US also engages in.

Courage IS required for passage, and creating that courage falls to the people. By organizing massive widespread protests like we have yet to see might encourage movement towards these desirable ideas.

As you know, in the US we are trying in vain to keep the austerity forces from trying to "balance the budget" on the backs of the poor, sick,& the elderly. So we aren't discussing the right alternatives, but our opposition is maturing quickly.

Our challenge is continuing that growth, and staying focused on the right goals.

That is MY hope, while I breath. Hope for the future.

[-] 1 points by shadz66 (19985) 10 years ago

Opposition is indeed maturing, especially in the light of such as this :

spero meliora ...

[-] 2 points by inclusionman (7064) 10 years ago

I'm with you.


[-] 1 points by inclusionman (7064) 10 years ago

How do you feel about public banking?

[-] -2 points by reggielove (-5) 10 years ago


[-] 1 points by inclusionman (7064) 10 years ago

The topic of this thread is 'public banking', Not the childish subject of your now removed comment.

[-] -1 points by Builder (4202) 10 years ago

Stop manufacturing consent. dickhead.

You use fake ID's to vote yourself up, and others down, to give a phoney impression that someone thinks you know what you are talking about.

If you don't like seeing this information, then the answer is simple; STOP DOING IT, DICKHEAD.

[-] 1 points by inclusionman (7064) 10 years ago

Please stop Spamming me! Harassment is a poor use of your engineering ability.

[-] 0 points by jrhirsch (4714) from Sun City, CA 10 years ago

Inclusionman has a lot in common with the greedy elite. Both are so concerned with raising their score, that they will do anything necessary, legal or illegal to achieve that goal.

[-] 2 points by inclusionman (7064) 10 years ago

What are you talkin about?. All I do here is post honest information and encourage action regarding the issues Occupy has taken a stand on.

Why don't you stay on the topic of public banking instead of spewing ignorant, childish, false, personal attacks against me.

You and your friend are preoccupied with scores not me.

[-] 1 points by Builder (4202) 10 years ago

Yes, and despite my many admonitions, he's still doing it.

Clearly an illness. I guess we should pass the hat around for him.

[-] 3 points by shadz66 (19985) 10 years ago

Ardour in administering admonitions actually appeared almost always against any aspired ambition !!!

I was on here earlier when you were both spamming the shit out of each other & though neither of you refrained from mixing it, it did stop me posting. It wasn't pretty and didn't look good. Go easy 'B' and Google 'agon' sometime and I'll also append :

pax et lux ; hic et ubique ; nunc et semper ...

[-] 3 points by Builder (4202) 10 years ago

Thanks Shadz.

It's my bullshit~O~meter. Gets wound off the dial sometimes.

More than a koala can bear.

[-] 3 points by shadz66 (19985) 10 years ago

Cool n' the Gang 'B' {:-p) When the joey gets too much for the pouch, you feel you've got to react and exclaim before things get too 'macadamia ....' !!! I get that !! It's all grist to the mill as we all partake of the bread of life here together ! Onyer cobber ;-) & ...

fiat justitia ruat caelum ...

[-] 4 points by Builder (4202) 10 years ago

Hmmm, the former link is an excellent essay, Shadz. I passed it on to some American colleagues for perusal. The latter link surprises me not in the least. A country that can't admit that it condones torture and calls sensory deprivation and simulated drowning "extraordinary rendition" is already fascist in both intent and definition.

The fact that most people accept "news" in soundbytes, and have the memory of a goldfish, doesn't help the movement at all.

[-] 4 points by frovikleka (2563) from Island Heights, NJ 10 years ago

Maybe we should mimic their "sound bytes" with 'truth bytes

If it worked for them, well.....


[-] 3 points by Builder (4202) 10 years ago

Need a song and dance routine to bolster the truth.

Maybe introduce them during the superbowl?

[-] 2 points by frovikleka (2563) from Island Heights, NJ 10 years ago

I'll work on coming up with some


[-] 1 points by frovikleka (2563) from Island Heights, NJ 10 years ago

That would cost a bundle

But really if we came up with a few key phrases and repeated them over and over and over and over........


[-] 4 points by Builder (4202) 10 years ago

You have the methodology down pat.

I was being facetious above.

I know I'm getting very tired of seeing ActionAlert.

It has lost all meaning for me.

"Show me your austerity" would be a good one to use, in light of the discovery of all that cash sitting in offshore accounts.

"Why tax us?" is another relevant claim. There's so much hypocrisy happening lately, most people are probably just shutting it out with inanities.

[-] 4 points by shadz66 (19985) 10 years ago

Sadly it's so true when you say : "A country that can't admit that it condones torture and calls sensory deprivation and simulated drowning "extraordinary rendition" is already fascist in both intent and definition." & thus in compliment, I further append :

fiat lux et fiat pax ...

[-] -1 points by inclusionman (7064) 10 years ago

'Extraordinary rendition' refers to moving a detainee to 3rd country/location. Not specific torture methods (sensory deprivation, simulated drowning) as you suggested.

And of course we have admitted we condoned torture and have re committed to not doing so. I can't say we are not, but I know we have begun drone assassinations in place of detaining/torturing so that isn't much better.

But you clearly don't understand the issues.

[-] 1 points by Builder (4202) 10 years ago

Sounds like torture to me, twinkle-fingers. (quote)the practice of moving prisoners from one state to another in a way that is illegal, often so that they can be questioned and hurt to make them give information(unquote)


[-] -1 points by inclusionman (7064) 10 years ago

The definition you linked proves my point.

extraordinary rendition is the practice of moving prisoners in order to hurt (torture them).

You state it WAS torture when clearly it is used to facilitate torture.

You double down on your mistake because you are too vain, and/or egotistical to admit failure?

[-] 3 points by ExposeTheOligarchs (37) 11 years ago

Sneaky MSM ba$tard$ !! There's a PublicBankingInstitute and they've managed to keep something this big hushed from the masses?!

http://publicbankinginstitute.org/home.htm .

[-] 4 points by PublicCurrency (1387) 10 years ago

That is a great site. Ellen Brown J.D is the best . .

Here is another great site of hers.


Another great site is


[-] 2 points by ExposeTheOligarchs (37) 10 years ago

Thanks kindly 'PC'! Ellen Brown rocks! Solidarity @ U!!

[-] 3 points by PublicCurrency (1387) 10 years ago

Yes, she does! Solidarity @ U!!

[-] 1 points by imagine40 (383) 11 years ago

Continued bankster abuse of the 99%.


Please sign/push this petition. Payday loans are loanshark level interest that trap the poorest into indentured servitude.

They must be made illegal.

[-] 4 points by shadz66 (19985) 11 years ago

Some of the nation's largest banks are looking to make obscene profits by exploiting some of the country's poorest people, and we need to make sure federal banking regulators put a stop to it.

Banks like Wells Fargo, U.S. Bank, Fifth Third Bank and Regions Bank have started marketing payday loans to their customers.

These short-term, high-cost loans are blatantly predatory. The fees charged for making these loans are equivalent on average to more than a 300% annualized interest rate.

And while payday lenders like to pretend it's a solution to a short-term cash crunch, the fact is that they make their money when loan recipients pay off one loan by taking out another payday loan, thereby falling into a cycle of debt that's hard to escape.

I extract the above from your link & further append :

fiat justitia ruat caelum ...

[-] 5 points by beautifulworld (23760) 10 years ago

Occupy Wall Street as a movement should get back to just that, occupying Wall Street.

[-] 3 points by jrhirsch (4714) from Sun City, CA 10 years ago

Well said. We've drifted so far off course here. Time to trim the sails and grab hold of the tiller.

[-] 1 points by OTP (-203) from Tampa, FL 10 years ago

Easier said than done. Our attention span leaves a bit to be desired.

[-] 3 points by beautifulworld (23760) 10 years ago

Never give up! What we must remember is that what is behind much of the wars, the hunger, the suffering and strife is an economic and banking system, worldwide, that exploits the many at the hands of the few.

[-] 2 points by imagine40 (383) 11 years ago

Thank you. It is so disgusting that people aren't protected these destructive practices.

Just an extension of the "buyer beware" mentality.

[-] 3 points by shadz66 (19985) 10 years ago

Re. "these destructive practices" - here it is in black and white from the inestimable Prof. William K. Black - the man who took on and cleaned up the worst excesses of the 'Savings & Loans' debacle and 'fraud-fest' & I can NOT recommend this 8m video and the following article enough :

radix omnium malorum est cupiditas ...

[-] 1 points by imagine40 (383) 10 years ago

With enough pressure we may force these criminals to pay.!

[-] 2 points by shadz66 (19985) 10 years ago

"Warren vs. Bernanke: Too Big to Fail ?", by Thom Hartmann :

From which : "It's time to stop propping up the banks, and end "too big to fail." One way to do that is to bring back the Glass-Steagall Act. Under Glass-Steagall, we had two kinds of banks. One, like your neighborhood bank, did checkbooks, home loans, and savings accounts. Their technical name was "commercial banks."

"The second kind of bank was what were called "Investment Banks," places like Merrill Lynch used to be, where you bought and sold stocks, bonds, and commodities. Betting banks.

"Glass-Steagall said that these two types of banks had to be different and separate, couldn't even be owned by the same people, and couldn't get into each others' business. So you always knew that your bank wasn't gambling in the back room with the money in your checking or savings account, and wasn't out hustling your mortgage to some foreign investment fund.

"But Republican Senator Phil Gramm and his banker buddies didn't like that at all. So in the final year of the Clinton Administration, they put an end to the Glass-Steagall act that had been protecting us ever since the Great Depression.

"The result, just like in 1929, was predictable. The banks gambled, lost, and crashed. And took us all down with them."

Personally. I'm waiting for some 'wise guys' to be ripped off by some bankers, so that the 'sleeping with fishes' can start !!!

spero meliora ...

[-] 1 points by imagine40 (383) 10 years ago

Ha, Nice criminals vs criminals, seems appropriate.

[-] 1 points by shadz66 (19985) 10 years ago

"Disaster Capitalism, Chicago-style" :

e tenebris, lux ...

[-] 3 points by imagine40 (383) 10 years ago

Da Chicago way!!!


[-] 2 points by shadz66 (19985) 10 years ago

Let the 'sleeping with fishes' start and a wee reminder of what O.W.S. is all about :

"Freedom is both one of the most basic and one of the most precarious rights. Freedom is meaningless if it does not ensure equal rights and therefore solidarity. This is why everything should be seen as a whole. The freedom which governs more and more the financialized markets, at the service of a few, and incompatible with equality and fraternity, has already caused considerable damage."

per aspera ad astra ...

[-] 2 points by imagine40 (383) 10 years ago

The big banksters have written the "freedoms which governs........the financialized markets"

So when we change who controls pols/govt/freedoms writings (regulations) we will see balance return.

Money out of politics and power to the people right on!

[-] 1 points by shadz66 (19985) 10 years ago

I concur wholeheartedly and topically append for your later calm consideration :

dum spiro, spero ...

[-] 1 points by imagine40 (383) 10 years ago

I will enjoy this article. But I can say if we have a Chavez he is frozen out of power by our political duopoly.

Best we can do is fight as a people, & organize many progressive groups to advocate for Chavezian policies.

Not as easy as it might be with a 'Chavez' at the head, but it's all we got.

[-] 4 points by shadz66 (19985) 10 years ago

Yes, the deeper truth and reality is that only a ''Mass Movement Of The Previously Mind-Managed and Manipulated But Now Thoroughly Awake' can do that which is needed. Viva OWS & we keep planting seeds and looking to the future.

Chomsky asserts that ''Capitalism as it exists today is radically incompatible with democracy" & the extraordinary film is about the creation of 'The American Corporation', its global economic dominance and its psychopathic tendencies.

respice, adspice, prospice ...

[-] 2 points by inclusionman (7064) 11 years ago

Sounds interesting. Perhaps cheap lending for low income people

[-] 4 points by TrevorMnemonic (5827) 11 years ago

.01% sound low enough?

that's often what the banks get when the fed creates trillions out of nothing to give to them. Then the banks put it on deposit which profits them with their interest accrual setup... pay huge CEO bonuses... and then they loan it out to the people at 5% to 29.9% interest.

GAO audit exposed 1 trillion was given to the fraudulent Bank of America. Another 15 trillion to hand picked banks and corporations.

Our current monetary policy issues currency through debt and inflation and it is used to prop up the banks and the 1% through it's biased settings . It's really stupid when you think about it.

We should have a monetary system that issues currency through job creation, city building, and more than reasonable loans for small businesses. THIS IS THE USA WE NEED GROWTH.

Hell we could even end inflation. Inflation is just a scam that gives banks more money all while decreasing the working man's dollar value during stagnant wages.

[-] 3 points by inclusionman (7064) 11 years ago

All this excessive trillions to the banks and their excessive profits off of us I am familiar with. The alternative you mention is somewhat hard for me and the average schmoe to digest. But I think I agree. I'm certainly against the way the FED is set up and how it helps the 1% screw us ever more. THAT definitely must change.

[-] 2 points by PublicCurrency (1387) 10 years ago

The best part is that the interest is returned to the people. Studies have shown that the average cost of interest on everything that is bought and sold is 40%. On government projects the average cost of interest is 50%.

The private banks take a 40% - 50% cut on everything that is bought and sold. That kind of monetary power is detrimental to a representative government.

Before the Federal Reserve Act of 1913 there was no Federal Income Tax. Federal funding was obtained by taxing imports. And there had never been a World War. Without the U.S., Europe could not have funded WWI since thei nations had spent most of their money on warfare.

[-] 2 points by inclusionman (7064) 10 years ago

Interest charged by the banksters is their most potent tool to turn us into indentured servants.

Public non profit banks/consumer unions are good answers to create the minimal competition to private banksters which does not exist.

[-] 2 points by shadz66 (19985) 10 years ago

Yes, "It’s the Interest, Stupid ! Why Bankers Rule the World", by Ellen Brown :

multum in parvo ...

[-] 2 points by inclusionman (7064) 10 years ago

Good article. The change we need will happen when we break the grip of banksters over all areas of life for the 99%.

[-] 1 points by shadz66 (19985) 10 years ago

Here's a graphic insight into "the grip of banksters over all areas of life" :

'Infographics' on the distribution of wealth in America, highlighting both the inequality and the difference between our perception of inequality and the actual numbers. The reality is often not what we think it is.

fiat justitia ruat caelum ...

[-] 2 points by inclusionman (7064) 10 years ago

That was so clear and powerful. the 1% has 40% of the estimated $54T total wealth of the US.

If it don't change we are in deep shit.

[-] 3 points by shadz66 (19985) 10 years ago

Further to the 'graphic insight' above, please also consider some very relevant audio :

"Prof Michael Hudson engages in a wide ranging analysis of the advantages to wealth that money printing and poor tax policy produce. From China to NY, Latvia to Greece, Spain to Australia this is the news we should be getting!" & I can't recommend this link enough.

fiat lux ...

[-] 2 points by inclusionman (7064) 10 years ago

Very creative podcaste. Unfamiliar with Prof Hudson.


[-] 2 points by shadz66 (19985) 10 years ago

In his critique of American political economy, Prof. Michael Hudson is second to none and on a par with the likes of Prof. Wm. K. Black, Prof. Richard Wolff, Prof. Noam Chomsky and Ellen Brown, imho and thus I append some further links fyi :

The penultimate link speaks directly to the subject of this important forum-post & re. the 'KPFA' audio link, click where it says "download" & is underlined, though there is no download as such as it will just go into the audio file. I recommend all the above for excellent insights into 'High Finance Crapitalism'.

pax et lux ...

[-] 3 points by inclusionman (7064) 10 years ago

Oh boy. You give me lot's to enjoy.

Thx. I'm sure it will be good.