Forum Post: The Collapse of Our Corrupt, Predatory, Pathological Financial System Is Necessary and Positive.
Posted 12 years ago on Nov. 7, 2011, 8:26 a.m. EST by jph
(2652)
This content is user submitted and not an official statement
There is a great article over at Zero Hedge detailing how the banking system has been working, and WHY it is in so much trouble now.
The article, like all of what they do at Zero Hedge, is a bit technical, as the site is basically for financial system insiders, however it is very clear and as concise as it could possible be.
I post it here, mostly for all those folks that think or at least pretend to believe, the financial collapse has something do do with "deadbeats" defaulting on mortgages,. this is a bankster propaganda point, meant to deflect attention away from the real source of the problem, the corporate banking system itself. The same stodgy old divide-and-conquer, blame-the-victim, with a bit of the flip-the-script technique thrown in.
This failing system comes down one way or the other, we can just let nature take it's course, or we can keep pushing for substantive change before things get even worse.
Amen. Let's get the bastards.
Corzine/MF Global ripped off customer funds. II
read more -- http://overthecoals.blogspot.com/
CNBC broadcasters reported that the CME Group is searching for $600,000,000 that vanished from customer segregated accounts that no one except Corzine had the power to rip off unless Corzine specifically involved other people. CNBC broadcasters actually believe that the $600,000,000 might be hiding someplace and might magically reappear from its hiding place. Also CNBC reported that the Obama appointed commissioner of the CFTC, Gary Gensler recused himself (after he spoke with Corzine) from his own job.
This will be the same as the NYC Judge and DA who protected Strauss-Kahn from a trial for raping the black hotel maid. They are going to protect ex NJ governor, ex US Senator, ex Goldman Sachs colleague Corzine from being arrested for his crime. If OWS sitting in the park near Wall Street (as if being blocks away from Wall Street gives them some knowledge) had any idea of why they are protesting, they would be screaming about the Corzine $600,000,000 crime and his privileged status by the FBI.
America has become a nation of dolts in a trance. The most powerful American leaders and their shills reporting on TV are ignorant crooks. Go back and read prior SCREWED AGAIN reporting about the CFTC and CME Group as it concerns the PIMCO fraud. The OWS protest actually believe that sitting and freezing on the ground in the park will magically force a happy ending for the misery of 50,000,000 Americans whose work is now being done by Chinese slaves. The 50,000,000 Americans have been told by the privileged to go back to school and learn a new occupation so they can return to the middle class life they had enjoyed.
Yes, that is one scam coming to light, made possible by a system that is rife with them. In fact the system is corrupted to it's core, and demands such ripoffs by it's very nature.
This is what the OWS protests are about. I do not follow your post. You talk about the problem, then attack OWS as if the problem is created by the people active to change the broken system. What?
My point is a simple fact. Until OWS BEGINS TO grasp the only solution is to elect legit people to office -- like me in the CT 4th district as a Green candidate.
Sitting in the park for 10 more years will accomplish nothing.
If elections could change anything, they would be illegal.
There is a reason the system is devised the way that it is. It stops any candidates that would support real change from ever gaining office. Don't push yourself as the only solution, that is pure egoism.
Is your objective to keep losing by irrational, ridiculous nonsense? Attacking me won't benefit anybody. There is no sense for me to argue with nonsense. I'm not going to do it again.
"Elections would be illegal if they could change things" -- is stupid on its face.
Hi Jph, Excellent post. Best Regards, Nevada
Collapse is fine. What do we replace our financial system with after it collapses?
Is the answer an end to fractional reserve banking? Is it conversion to a resource based economy? Whatever it is, how do we build this alternative?
There are lots of wise people that have been thinking about his for many years. They have proposed a slew of alternatives to our current broken system, one only needs to start looking at what people have already come up with to begin to see the possibilities.
Here is one to start with; http://livingeconomiesforum.org/ And of course Paul Krugman has much to be considered as well; http://krugmanonline.com/
But just start looking and you will see that the alternatives are many and all seem to be massive improvements over what we have bee suffering.
All gambling with derivatives must end. Only a derivative hedge can be allowed. That is only a short treasury contract position.
The crooks need to be prosecuted but that will only happen by electing a 3rd party like me in 2012. CT 4th district.
read more in my blog.
Gambling, yes that is what the Wall Street system has become a Corporate Casino System that skims from everyone. If the bets go badly then that is off-loaded to the people, if it goes well, the profits are captured by the 1%. Privatized profits wit socialized losses.
Gambling the deposits of all depositors is a massive hydrogen bomb to campaign for me as the candidate in the CT 4th district.
This is for the OWS to win the protest. The only win is for election 2012.
yes there's so much wrong with the system - but i fear "collapse" would take everyone down. here's a reply to THAT wall street worker's letter that sums up my view: http://www.tocamu.com/?page_id=5665
That has nothing to do with the article that is the subject of this post. The collapse is already under way, and is only being slowed by propping up the broken system with bailouts;
"The irony is the propping up of a deeply, intrinsically pathological and destructive financial system is not saving the economy, it's the reason the economy is imploding. The Big Lie technique of propaganda is to reverse the polarity of reality: we are told up is down until we believe it.
We are told that liquidating the overhang of bad debt, leverage and hedges would "destroy the world as we know it." The truth is that keeping the zombie system from expiring and covering up the corruption with propaganda is what's actually destroying the world as we know it.
Thus the collapse of the current financial system of central banks, pathological Wall Street and insolvent banks would be the greatest possible good and the greatest possible positive for the global economy and its participants." - from the article
Perpetuity is a myth. All systems collapse and restart or change to another. It is best to let them run their course so a fuller solution can be seen. Trying to interfere will only prolong an eventual outcome and serves no purpose but momentary entertainment. Sometimes you gotta just sit back and watch. If you believe they caused it, let them fix it. If you were truly wiser than them, you'd be in their position.
The "truly wiser" would be corrupting democracy to take more for themselves? I don't think you know what wisdom is. Yes, systems do collapse, and fade into history. However we (some of us) are sentient people, and we can create new systems to replace this dying machine. We can also work to take down corrupt systems that are destructive to us and our allies.
So you're saying you're smarter than them? Those who try to reinvent the wheel usually come to similar, if not the same, conclusions at some point.
So now Occupy is advocating a Civil War?
Civil War? What is it you are talking about?
Advocating the failure of a "system" will cause the Anarchists to argue that the assets owned by people are no longer "legally" theirs and are now up for grabs by the "have-nots". This will invariably be the catalyst for war as hard working people who have dedicated their life's hard work will be unlikely to relinquish their assets to drugged-out hippies.
Count on it.
"We are being throttled by the Big Lie: we're told that if the predatory financial system implodes, we'll all be ruined. The opposite is true: the only way to save our economy is to let the corrupt, pathological and flawed financial system implode." This is the first line of the article, did you bother reading it?
If you fear your neighbors, you simply will not do well in the coming days. The collapse is happening now, it is not a choice. The article is about how we react to this reality. It merely points out that clinging to the dying broken system is much much worse than letting go of the dead weight.
"drugged-out hippies" really? Is is still the 60s? You tip your hand, and show your small minded time-challenged hatred.
Let's see there Einstein: STDs, druggies dying and people arguing that they should receive handouts?
Yes, "hippies" fits the bill.
Get a job and stop whining.
Cling baby cling,. your words show you to be a fool.
Your hatred of strong women with opinions is showing.
Go back to your Studebaker, Opie.
And now your playing the sexist card? Really? That is damn pathetic. Who is whining now?
Only more foolish words, with added nonsense to boot! Studebaker? Opie? I see you are unable to even address the issue. Allow me to reiterate; "The Collapse of Our Corrupt, Predatory, Pathological Financial System Is Necessary and Positive"
Oh look, MASH is playing!
Oh look a stupid Opie is acting like a tough man!
what pray tell is a "stupid Opie"? and why do you persist in your sexist attacks? Address the ISSUE at hand, and stop spouting nonsense.