Absolutely Unacceptable!

Yep, and they knew to expect this. With the absence of the Glass–Steagall Act it was really just a matter of time.

The repeal of provisions of the Glass–Steagall Act of 1933 by the Gramm–Leach–Bliley Act effectively removed the separation that previously existed between investment banking which issued securities and commercial banks which accepted deposits. The deregulation also removed conflict of interest prohibitions between investment bankers serving as officers of commercial banks. This repeal directly contributed to the severity of the Financial crisis of 2007–2011 by allowing Wall Street investment banking firms to gamble with their depositors' money that was held in commercial banks.
Source: en.wikipedia.org...

It sucks to be so owned! It has been impossible to distinguish between elected officials and concentrated capital in this country for a very long time. In a system where special interest can pull its backing and in effect destroy a candidates re-election chances, is the same as being fired by your boss! The law should be accountable to the people, but alas we were born into the Fascist states of America!

The OWS is most certainly barking up the right tree, but I dont think that anything short of mob justice will effect any real change.

We may also be in the midst of a Currency War. Which would suggest the goverment is indeed in control and using the banks like pawns, but you know who is to say what is right.

When a country is suffering from high unemployment or wishes to pursue a policy of export led growth, a lower exchange rate can be seen as advantageous. From the early 1980s the International Monetary Fund (IMF) has proposed devaluation as a potential solution for developing nations that are consistently spending more on imports than they earn on exports. A lower value for the home currency will raise the price for imports while making exports cheaper.[6] This tends to encourage more domestic production, which raises employment and gross domestic product (GDP) – though the effect may not be immediate due to the Marshall–Lerner condition. Devaluation can be seen as an attractive solution to unemployment when other options, like increased public spending, are ruled out due to high public debt, or when a country has a balance of payments deficit which a devaluation would help correct. A reason for preferring devaluation common among emerging economies is that maintaining a relatively low exchange rate helps them build up their foreign exchange reserves, which can protect them against future financial crises.
Source: en.wikipedia.org...

It seems pretty clear though I guess.
Glass–Steagall Repeal + Fleecing of America + End of Minimum Wage + End of Unions + End of EPA = The next China.

Mussolini said it best when he said "Fascism should rightly be called Corporatism, as it is the merger of corporate and government power. " It is very clearly a hostile take over, and America has fallen.

Originally posted by projectvxn
reply to post by popsmayhem

 

About 2 years ago or so I postulated that China would have been smart enough to divest itself from that situation.

They haven't been and may wind up going down the tubes with us.

HOWEVER, China has actually decreased it's holdings of short term treasuries by 97% over the course of a few years. If anything this acknowledges their lack of confidence in our ability to pay back our debts in the short term. Which leaves me at a loss for words to explain why they are still so heavily invested in the US considering the last years worth of economic developments.

There is one reason my friend, the USA is also there dealer, and they have become hooked in selling the USA and Western world cheap walmart crap... they will have massive internal problems if they turn the spigott off to quick, the difference is they have their addiction under control and are slowly weaning off it.

Originally posted by Jim Scott
There is not 75 trillion dollars in the entire World. money.howstuffworks.com... That immediately makes the article suspect. Checking into the sources of the information shows that there is a 404 for that source. www.theblaze.com... It's all just horsefeathers...

edit on 10/24/2011 by Jim Scott because: More info.

No there isn't 75 trillion in the world.

And THAT is why leverage requirements are necessary.

There are many pieces of these contracts out there that are collectively valued that high. However everyone knows that if there was ever a time when those contracts were all called in that there wouldn't be any money to pay for it.

The deleveraging would be enormous and many banks would simply cease to exist.

reply to post by projectvxn


Imagine having a pet bull elephant. Every time your car is tuck in the snow, you have the elephant pull you out.

To tie the derivatives market to the Fed and the public purse is like roping up the elephant to the SS Titanic as she sinks in the hope of pulling it back up to the surface. ....But duh! No hard to guess what will happen to the elephant on the pier as she goes down!

reply to post by projectvxn

This is a great way for us to be totaly gutted, and 99.95%of sheeple wont even understand what happened when BoA asks for trillions and trillions of dollars and finaly collapses the system due to the sheer weight of the request on the system. This is the doorway which the next act of this play which stared in 1910 will step in with a giant boot and take control, as sheeple will ask why are we bailing out Europe not understanding that BoA put this financial IED right here for us, make no mistake this is the financial equal of an IED, placed with intent and malice, and It Will Hurt.

It's been known about for a few days now, but really gross isn't it?

Someone should protest this kind of thing.....

Originally posted by gimme_some_truth
It's been known about for a few days now, but really gross isn't it?

Someone should protest this kind of thing.....

edit on 24-10-2011 by gimme_some_truth because: (no reason given)

Yeah, you're really original telling me to jump on the band wagon.

For the last time, NO. I don't need to jump on some leftist bandwagon.

I was dealing with these issues before any of these people got the wild hair up their ass to even bother trying to understand it. And they still don't.

reply to post by projectvxn


At least now you know why people are protesting.

Originally posted by shogu666
reply to post by projectvxn

 

At least now you know why people are protesting.

Another original post.

Again, this isn't my first walk in the park with banks.

And I don't need to belong to a bunch of economically illiterate protesters to get that point across.

OWS doesn't own dissent on bad banking.

A thought occures to me, money, like energy cannot be distroyed (of course in a phisical sence yes it can be, obviosly) but it is a crime to destroy currency, so if there is billions a billions which is being lost then there should
be an equal amount being gained somewhere. The value of currency may change but not the volume, so where is the money going to? or is the majority just electronic currency which is deleted from the system. anyway just a thought. If i think on it too mutch my head is going to explode (not in a physical sence of course).

reply to post by wondera


We have inflation and deflation controlled by the central banks.

They are the ones who both create and destroy money.

reply to post by projectvxn


If there is more to the story concerning Banks and the derivatives market than what you see on MSM, don't you think that, perhaps the same is true for other topics?

WHy such vitriol for your liberal brothers and sisters? If you have been protesting Banks and B o A and the corporate takeover of our fair Democracy, you have at least a little bit in common with these people you have decided are your enemy. I wonder if Faux News has anything to do with your hatred of the left...?

Conservatives and Liberals have to push Pause on the bickering now, and work together, truly and earnestly, to rid our Government of outside control. Turn the anger in your heart towards the People who justly deserve it.

Otherwise, you'll be helping the corporate stooges keep the publics collective eyes on a decoy.

reply to post by jimnuggits


My problem isn't liberals.

I know plenty that don't have their heads as far up their butts as the OWS crowd often does.
Liberals are not the same as leftists.

Lastly we don't live in a democracy. We live in a Constitutional republic.

Mob rule and collectivist ideology is not pro-liberty.

reply to post by projectvxn


Can you at least agree that OWS is filling a very necessary requirement for action?

Certainly they may not be the most effective, but it should do your heart good to see so many of your countrymen and women participating, and at least trying to reclaim what was Meant to be a Representative Democracy.

At least they are shining light in previously dark spaces, right?

Short answer it is too big to fail, taxpayers have to bail these banks out whether openly with a Tarp. Or secretly with the Fed, your best bet is to just go too your happy place when they bend you over, resistance is futile.

Originally posted by jimnuggits
reply to post by projectvxn

 

Can you at least agree that OWS is filling a very necessary requirement for action?

Let's see, a movement with no direction, no goals, and no way of meeting goals should they actually have any because they don't want to participate in the system.

I guess I can't agree there.

Certainly they may not be the most effective, but it should do your heart good to see so many of your countrymen and women participating, and at least trying to reclaim what was Meant to be a Representative Democracy.

It's a Constitutional Republic. It was never meant to be a democracy of any kind.

At least they are shining light in previously dark spaces, right?

Aside from a few astute members of the movement. No.

Existing thread here:
www.abovetopsecret.com...



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