Posted by Silverfuel:

I read 'confessions of an economic hitman' a year ago. It was really an eye opener. I should probably go back and read it again. Perkins has been challenged but I think he is telling the truth.

The first part is ****ing shocking dude. I didn't know that money was created out of thin air. It sucks! Anything we can do about it?

I don't know. It looks like our president of change (who I voted for and support) is working his ass off to make sure nothing changes.

The governments and financial corporations are in such tight beds with each other they are virtually indistinguishable from one another.

I feel like the wealth of this country over the last 40 or so years has been little more than a Madoff ponzi scheme. The deeper you look the less you have.

That rollingstone article is unreal. I read it this weekend and let me tell you, I feel like a complete loser. I am working my ass off to pay off my student loans and to save money to buy a house etc. Meahwhile these guys are robbing us of billions!! And then they laugh about it. I felt like a helpless loser. Cassano needs to be in prison.

First, it should be illegal to take something fundamentally insecure (loans to pimps and crackheads) mix it with other stable loans and trade it as a CDO.
Second, it should be a illegal to insure these ridiculous CDO's.
Three, if you are guilty of the above two, you should have to pay for the damages.

Posted by Silverfuel:

Posted by BlueSeats:

The governments and financial corporations are in such tight beds with each other they are virtually indistinguishable from one another.

This is what scares me the most. The article you posted below says they paid off republicans and the democrats to repel the glass steagall act. If both sides are working with the banks that are robbing us, we are screwed. The more I know the more I hate this. Ignorance really is bliss.

The banks have basically hedged their bets. They donate crazy amounts to both Parties and it's not just the banks all the major industries in this country from Pharmacutical, Weapons Manufacturers, the piece of shyt Airline Industry, Auto, and the list goes on. So whose going to say enough is enough and actually start serving the American people? Washington is so heavily entrenched in lobbyists and special interests groups that EVERY politician is in some way or another indebted to some corporate interest.

It's interesting that you mention the Glass-Stengall Act because what about the Sherman Anti-trust Act how are these banks becoming too big to fail. Why isn't that question being posed because as long as Washington continues to ignore that our financial system is broken we will never rid ourselves of these economic diasters.




[Edited by - bitty41 on 03-23-2009 2:55 PM]

This isn't conspiracy theory, we all we all know it's true, we just tune it out.

Priceless. Everybody everybody sing sing.

And I thought there were only right-wing conspiracy nuts.

Then again, nothing's been the same since Marxism went out of style.

BlueSeats....honestly....i never knew you rolled that way...

What's this deal about FEMA secret prisons and crap that FOX Noise has been yapping about?

Posted by BlueSeats:

http://video.google.com/videoplay?docid=7065205277695921912

Anybody watched this yet? I highly recommend it.

Goes into the fractional banking system and how it's used for social and political domination.

I found the first half gripping and quite factual, at least as far as I understand things. The second half gets more speculative as it gets into possible solutions.

With the corporatocrasy in control of the money supply and the cost of basic commodities we are left to leap like lemmings in whatever direction they choose. This isn't conspiracy theory, we all we all know it's true, we just tune it out. That we collectively tolerate it only demonstrates how powerless we truly feel.

Great post Blueseats. There are actually three videos by them. Each one is 2 hours. I think what you are seeing on google is pieces of each video.

Ok - I started watching this video and I am big into conspiracy theories, but the whole monetary system thing is a spun to make it look worse than at actually is.

Part of the reason 90 billion is made from 10 billion is that people are borrowing it and creating debt instruments which they have promised to repay.

The U.S. government is supposed to keep gold that covers the amount of money that has been printed (at least this is how it used to be) and I see no mention of it in here. They dont just print the money although it seems that way, they do have to promise to back it.

Its pretty obvious that if you put more money into the system that it lowers the value of the dollar. That is economics 101, so I am not sure what he is getting at here. All of this information is available in text books, he just makes it sound ominous and bad but this is how the world works. Monetary policy also has effects on trade inflows and outflows.

Yes money is created through debt - would you want the government to be able to go to the Fed and get money without offering anything in return? It seems like they can get the money whenever they want as it is, but take a look at Zimbabwe's hyperinflation and study that - we arent even close.

Granted there are big problems in the U.S. but there is no massive conspiracy here. You can learn about all of this stuff if you want to - most people choose not to and that ignorance is their choice.

I will watch more of this later and add more thoughts but right now I dont see the problem - then again I am only 17 minutes in.