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Monday, September 26, 2016

Pre-Occupied With Fairness: The Moral Crisis Of Modern Capitalism

There’s no good explanation for why Wall Street continues to suck up vast amounts of money except that there is a flaw in the system itself.

The Occupy Wall Street protesters were not immune to the news of Steve Jobs’s passing. “A ripple of shock went through our crowd,” Thorin Caristo, a leader of the movement’s web outreach, told the Associated Press. He later called for a moment of silence from the stubborn assembly at Zuccotti Park, and the 99% paid tribute to an exceptional member of the other club.

The gesture failed to move some. National Review’s Daniel Foster envisioned “viscera of a thousand heads exploding from the sheer force of cognitive dissonance,” while conservative columnist Michelle Malkin said that the protesters honoring Jobs’s life and work “without a trace of irony” provided the “teachable moment of the week.” The lesson, it seems, is that one cannot critique capitalism without also rejecting every single capitalist, a conclusion that is not only logically flawed but one that was famously rejected by William F. Buckley, Jr., the ideological avatar of the modern conservative movement and a founder of the National Review.

  • doane

    I have permission from [email protected] to post this copy and though it is long, it is well worth a read:

    “We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.”
    Our Peamble is being challenged .
    If it were possible to sum up the single greatest flaw to the American form of democracy would it be :It allows for the “most powerful force in the universe”… to quote Einstein, compound interest to be used against that democracy ?
    That would be something like ”free will”, which can be used for or against the greater good.

    this possible fatal flaw to the American Democracy’s economic and monetary policy, may be ”the use of the most powerful force in the universe” …compound interest, being used by a group not for the betterment of all, rather for their own betterment only.
    When money is acquired thru interest ,it is not new money, it is merely a redistribution. A lender of any amount could lend 100% with an interest of 7.2% over a period of 10 times, and actually double its money.The lender becomes the owner of the money and based upon the act of compounding at any rate within a long period of time become the sole owners of all the money.
    The present system has to change .Private banks are lenders to the taxpayers who become borrowers.They are allowed to charge interest to taxpayers for the use of their own money.
    They are allowed to “create money” by fractionalizing money on hand and use that
    newly created money to gain more money. A cycle that commands total money control or it must bust.The real kicker is that the borrower by today’s system guarantees the lender they will not lose there money by covering any of their losses.The taxpayers are guarantors of their own servitude !
    The solution;The Federal Bank of America.
    Adam Smith’s “Invisible Hand” guided by Sheila Blair (FDIC)and Edward DeMarco (FHFA) can restore the American financial system,and put America on the road to prosperity.As a settlement to the legal actions brought against Bank of America,both the FDIC and FHFA can agreed to Bank of America’s insolvency !(11-01-11. This could read JPM Chase,or both BAC and JPMC.OR ANY AND ALL BANKS ) Bank of America is to be placed along with Freddie,Frannie and Sallie,along with the FDIC, and FHFA, and the Federal Reserve into one new agency; “The Federal Bank of America”(FB of A).The Federal Reserve will no longer be needed as its mandate will be passed on to THE FEDERAL BANK OF AMERICA.Also the FDIC and FHFA as their mandates will no longer be required.Private banks will have to get their own insurance .
    THE FEDERAL BANK OF AMERICA (FB OF A) will be a fully taxpayer owned bank.It will be operated by the people,of the people and for the people.
    THE FEDERAL BANK OF AMERICA will be the source for the American borrower to acquire funds and the interest paid shall be revenue income for the funding of their government.
    The first order of business will be securing of all deposits as allowed by the FDIC and the selling of these deposits along with all assets with the exception of any and all loans.All loans are to be retained by FB of A , as well as all offices and buildings as they will provide the brick and mortar for the new agency.
    The shortfall,the amount of money needed to restore the loans to Fair Market Value could exceed $10 trillion.This includes the most recent transactions in derivatives and other market ventures,which an audit may show that are in an amount of over $80 trillion (That’s only Bank of America’s portion)(Worldwide it is said to be more than $800 trillion).
    THE FEDERAL BANK OF AMERICA
    The Federal Bank of America will be the maker of all loans,not guarantee them for others, they will be the maker of these loans and will retain all profits.Profits which by law will be turned over to the US Treasury,as funds for Congress for government expensive’s.
    The Federal Bank of America:
    -Will no longer allow the paying of interest for the use of its own money.
    -Will not take deposits from anyone other then the US Treasury.
    -Will not be involved in any financial investment services.
    The Federal Bank of America will be the sole lender of legal tender.Any financial institution that wishes to loan American Dollars must acquire any legal tender that it may need from the Federal Bank of America,as all loans must be backed with a 100% reserve (Either dollars on hand or borrowed from the FB of A)
    The Federal Bank of America may raise or lower rates of interest to insure the quality and quantity of the American Dollar.
    The Federal Bank of America shall be funded by the US Treasury which shall as mandated by Congress request the US Mint to produce a platinum “coin” with a DOLLAR VALUE of $100 TRILLION.This value will be electronically deposited to the account of the American people into the Federal Bank of America.The actual “coin” will be placed on display next to the US CONSTITUTION.
    The board of directors shall be selected by a non-partisan vote.

    THE SOLUTION:THE FEDERAL BANK OF AMERICA .
    FB of A will purchase ALL residential and commercial loans outstanding at Fair Market Value.Any private lender may retain any loan it has by simply showing 100% reserve.The American people will be the lenders and no longer will they be the victims of private greed.No longer will they allow the banks that they have entrusted with their money to use that money to make profits for themselves .Profits will be made by the people,of the people, for the people. Taxpayers bailout for Taxpayers by Taxpayers paying compounded interest to Taxpayers .These loans would provide trillions of dollars as TAXPAYER PROFIT (REVENUE)! Compound interest will cause any amount to double over a certain period of time.(Rule of 72). A 4% compound yearly interest rate will double the base amount in 18 years. The taxpayers will be the direct lender and make the profit (interest).This doubling alone will provide an enormous income stream.If loans are made for $100 trillion,the incoming payments would exceed $5 trillion a year.What a magnificent way to fund a government.Pay off all old debt and never need to go in debt again because we the people would demand that there be a reserve.
    As Einstein said,“Make it simple.”
    TERMINATE THE STUPID PRACTICE OF PAYING INTEREST ON OUR OWN MONEY TO PRIVATE BANKS .A PRACTICE THAT CAN ONLY END WITH A FINANCIAL BUST !
    State Banks are taxpayer owned and are for taxpayers to make and retain any profit.The Federal Reserve Bank as it stands now is a bank that is owned (shareholders) by other banks.This is the greatest banker fraud of all,and we know how Freddie and Fannie turned out.No more GSE’s.And because the Federal Reserve Bank is the bankers bank,they are using taxpayers dollars to HELP THEIR BANKS more than to help people.When the banks made federal guaranteed loans,the FEDS guaranteed the loans with taxpayer dollars.Now they are supplying the banks with almost free money.This is exactly what we the people should do-become the owners of our money,the owners of the fruits of our labors.
    The next wave of stuff that will hit the fan may be the “CRISIS in the derivatives market” if you think stuff was “too big to fail” before,join me in sleepless nights knowing the derivatives market is more than $800 trillion ! ! That’s $800,000,000,000,000 !
    Read: “Web of Debt” written by Ellen Brown ( Ellen Brown ,she turns her skills to an analysis of the Federal Reserve and “the money trust.” She shows how this private cartel has usurped the power to create money from the people themselves, and how we the people can get it back).
    Read: A state owned bank,The Bank of North Dakota makes and retains profit for its owners-the taxpayers of the state. The State Bank of ND’s Return on Investment to taxpayers was 19% this year.(Google “State owned bank THE BANK OF NORTH DAKOTA)
    Could you imagine the profit (read income revenue) The Federal Bank of the United States of America would make? Taxpayers paying interest as revenue income for the taxpayers government.

    Put the insolvent banks in receivership.
    The next set of banks that are to go into receivership by the FDIC are to have all assets that are not loans sold off.(read just in case Bank of America is “too big to fail” or read just in case JPMC and CITI refuse to sell them out.).FDIC will sell all assets ( minus loans) and keep the offices and all its branches.The renamed bank will be called “THE FEDERAL BANK OF AMERICA . It will be funded by the US TREASURY.
    The Federal Bank of AMERICA will replace the Federal Reserve and will be mandated to preserve the quantity and quality of the US Dollar and to provide Congress with funding for the general welfare,life,liberty and the pursuit of happiness
    Just like that ,we the people may just have solved our financial crisis , housing crisis,monetary crisis and started on to the path to a greater prosperity.
    SOLUTION TO FINANCIAL,HOUSING, MONETARY CRISIS AND CREATION OF MILLIONS OF JOBS IMMEDIATELY AT NO COST TO THE TAXPAYERS;RATHER AT A PROFIT (READ INCOME) TO THE TAXPAYERS.
    THE FEDERAL BANK OF AMERICA would be the only legal tender provider for all residential and commercial real estate loans,private personal and business loans.It would have branches in every state and territory.The FB of A shall control the money supply by setting terms and conditions for the loans,thereby fulfilling their mandate to control inflation,deflation,and stagnation. .Affordable loans at low rates and longer terms ( 2011 Private loans would be at 4% for 40 years as rates will be changed depending upon economic conditions .2011 Business loans would be at 2% for 6 (six) years with no payments for the first year.)This would create at least 4 million jobs immediately and may even reduce the unemployment to under 4% within that year by creating the jobs and homes and products needed for this new prosperity that would be a result of this new monetary policy.
    The Federal Bank of AMERICA will replace the Federal Reserve and will be mandated to preserve the quantity and quality of the US Dollar and to provide Congress with funding for the general welfare,life,liberty and the pursuit of happiness
    AMERICAN GOLD.
    The American Dollar will be based upon THE AMERICAN TREASURE (“ITS GOLD”) !
    That is the full faith and credit of the American people backed up by the US Constitution and all assets physical and intellectual..Americans shall and will pay all debts,foreign and domestic.The American people have tremendously more assets then the worlds gold.Why would we limit our future to only a single metal ?We have all the elements as assets that are greater and in more abundance than gold and intellectual assets that are limitless,why trade them for such a finite amount of gold,gold that is already owned by others?
    We the people will create millions of jobs with commercial loans that will insure positive growth and employment.
    We the people will have special terms and conditions for student loans that will insure the educational growth of all Americans .Extremely low rates, only used to cover losses. (read Ellen Brown”QE4- Jubelee”’ ).
    Ben Franklin,Thomas Jefferson,and many more used this method ,the lending of taxpayers money , to start the colonies on the road to financial success.Then the lender banks took it away from the people by having legislators replace the practice allowing them to make the loans (make our money) and keep the interest for themselves,and at the same time guarantee that they the lenders get paid.We the people will no longer pay interest for the use of our own money,or guarantee lenders that they will be paid interest on our money for making loans.

    To insure the funding of this great society there could be three streams of income.
    INCOME STREAM NUMBER ONE:
    1. REVENUE FROM DOLLAR LOANS.
    Lets use a start figure of $51 trillion in loans,that which is already in circulation.(guesstimate,hope it is more)It will go on the balance sheet as $51 trillion loan assets.This asset will double every 18 years….1 X 18 = 102 trillion,2 X 18 =204 trillion. Banks will be the only source for deposits and savings. Banks will no longer be allowed to do fractional banking .All loans will require 100% deposit backing..Banks may borrow from The Federal Bank of the United States of America and use that borrowed money for their own account for their own investing;at the prevailing rate and terms.NO MORE FREE RIDE !( Some say they may need over $200 trillion to unwind their derivatives.)
    Good-bye income taxes as they are known today.
    The Return on Investment could be $3 to $5 trillion a year.US TREASURY INCOME to be used to pay off debt,promote the general welfare .
    Good-bye income taxes as they are known today.
    THE SECOND INCOME STREAM:
    2. A one line form, INCOME TAX :” 0-10-20 -25″ . Annual income of up to $75,000,pays 0% taxes .Annual income of $75,001 up to $750,000 pays 10% taxes .Annual income over $750,000 up to $2,000,000 pays 20%,and the last category ;annual income over $2,000,000 pays 25%.There will be no need for any value added tax or consumer or sales tax.
    THE THIRD INCOME STREAM:
    3. A business tax.The business tax is also a one line item; ALL profit over a deduction of $100,000 per employee is taxed at 20%.

    THREE INCOME STREAMS:
    1-FEDERAL BANK LOANS:Taxpayers people and “people”(read corporations) paying interest
    2-PERSONAL INCOME TAX: 0-10-20-25
    3-BUSINESS PROFIT TAX: Profit @ 20% minus employees X $100,000
    THESE THREE WHOULD AVERAGE OVER $5 TRILLION DOLLARS A YEAR.
    We the people would demand the debt be paid off ,end the possible servitude of our heirs.
    We the people would demand a balanced budget.
    We the people would demand a real monetary reserve be left in THE FB of A.
    We the people would demand the general welfare,life,liberty,pursuit of happiness
    FOR ALL THE PEOPLE.

    CAUTION: They will try FEAR tactics to keep US away from our rights.Remember ,”We have nothing to fear but fear itself”
    They will use the fear producing words,”inflation, hyperinflation, stagnation”.
    You can answer with the words,”I will not be enslaved by the most powerful force in the universe because we the people can use that most powerful force for the betterment of mankind and prosperity.”
    “We the people will deal with the present possible economic sunami,one tidal wave at a time .
    We will eat this crisis -ONE BITE AT A TIME”

    PERHAPS,WE NEED A MILLION CITIZEN MARCH ON WASHINGTON ORGANIZED FOR JUNE 2012 .
    -WE NEED:
    TO CHANGE OUR ELECTED CHOICES!
    TO GET OUR CANDIDATES IN OFFICE!
    TO GET THOSE ELECTED TO OFFICE AGREE TO THE ONE MOST IMPORTANT ITEM OF CHANGE;THEY WILL ENDORSE THE FORMATION OF “THE FEDERAL BANK OF AMERICA”

    May God continue to bless America
    [email protected]