I’m an Economist. There I said it. Don’t hate me, well maybe you should. I have a piece of paper from a University which says that I am. I did my time in the capitalist soldier factory during the Keating/Hawke years of Australian financial systems deregulation. I was believer of these “reforms” and their supposed benefits for the greater good of our economy. I was a capitalist free market clone. As time has passed as I've worked in financial services I'm struggling to deal with the real evils of our free market systems and stop feeling like a hypocrite.
Sadly there is a more sinister elitist agenda which has successfully managed to control governments, wealth and real social justice throughout the decades. The central role of government should be the creation of legislation to support the functioning of society. Idealistically, the broad interests of the public should be the first priority of government. Unfortunately history has shown, this is not and has rarely been the case. Rather, government as we know it is really a ‘parent’ corporation to all the other corporations working within the country’s economy pretending to be acting in our best interests.
You might notice in your life how removed what you actually do is to providing for your basic physical needs. You’ve probably also noticed real and perceived ongoing decay in our social structures, morals, values and the increasing gap between the rich and poor – not to mention the changes to our natural environment.
We live in the richest times in terms of the "things" we have yet we are increasingly unsatisfied? Whats wrong? Why is there so much volatility in investment markets? I think it all began with our economic system which has been left to spiral of control. We have a Monetary economic system which serves only one goal, and that is profit. We are new age slaves to the pursuit of the money we want for mostly unimportant "stuff". Our resources are deliberately made scarce and allocated to produce a cyclical consumption pattern which is only based on the short term and planned obsolescence.
Sadly there is a more sinister elitist agenda which has successfully managed to control governments, wealth and real social justice throughout the decades. The central role of government should be the creation of legislation to support the functioning of society. Idealistically, the broad interests of the public should be the first priority of government. Unfortunately history has shown, this is not and has rarely been the case. Rather, government as we know it is really a ‘parent’ corporation to all the other corporations working within the country’s economy pretending to be acting in our best interests.
You might notice in your life how removed what you actually do is to providing for your basic physical needs. You’ve probably also noticed real and perceived ongoing decay in our social structures, morals, values and the increasing gap between the rich and poor – not to mention the changes to our natural environment.
We live in the richest times in terms of the "things" we have yet we are increasingly unsatisfied? Whats wrong? Why is there so much volatility in investment markets? I think it all began with our economic system which has been left to spiral of control. We have a Monetary economic system which serves only one goal, and that is profit. We are new age slaves to the pursuit of the money we want for mostly unimportant "stuff". Our resources are deliberately made scarce and allocated to produce a cyclical consumption pattern which is only based on the short term and planned obsolescence.
"Understanding the institution of monetary policy is
critical to understanding why our lives are the way they are.
Unfortunately, economics is often viewed with confusion and boredom.
Endless streams of financial jargon, coupled with intimidating
mathematics, quickly deters people from attempts at understanding it.
However, the fact is: The complexity associated with the financial
system is a mere mask. Designed to conceal one of the most socially
paralyzing structures, humanity has ever endured." - Peter Joseph
What have been the biggest financial issues of the last few years and even as I write today, as the share markets tumble; Money supply and DEBT!!
"The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented ... Bankers own the earth. Take it away from them, but leave them the power to create money, and with a flick of the pen they will create enough money to buy it back again ... if you want to continue to be slaves of the bankers and pay the cost of your own slavery, then let bankers continue to create money and control credit." - Sir Josiah Stamp, Head Of The Bank of England, 1781.
The Fractional Reserve Policy of lending first introduced by the USA Federal Reserve has spread in practice to the great majority of banks in the world. Our money is created out of debt held massively disproportionate to the assets (deposits) backing it. In Australia and the massively in the USA, banking rules were relaxed during the Bush-Clinton Govt years. This saw the banks lending at unheard of debt to asset ratios. Coupled with the invention of increasingly complex lending and scantly regulated and understood investment products we've built a corrupt debt based system which eventually collapsed in the Global Financial Crisis (GFC) of 2007/2008.
It has become really a system of modern slavery. We submit to employment to pay debt off. We need money to live and buy disposable stuff too but if money only can be created out of loans, how can society ever be debt free? It cant. This is the system which is sold to us as being one which promotes freedom and one which is equitable and just.
Whenever you hear someone talk of the goodness for everyone of a "free market" don't be alarmed to see that its only these same vocal proponents of the system who time and time again truly benefit. You see, they are also ready to take the good but they won't bare the cost of the bad or mistakes made. Its incredibly ironic how these "free market" capitalists turn to socialist means to fix the problems THEY created!! When capitalism fails who pays for it? Not the capitalists, they won't play by their own supposed free market "sink or swim" rules. Capitalism has been perverted. Its a become a system which profit is privatised and risk is socialised.
Just Josiah Stamp stated in 1781 this is also not a completely new aberation either:
"I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the Bank. ... You are a den of vipers and thieves".
Andrew Jackson, 1834, on closing the Second Bank of the United States;
Its been not more evident in our most recent financial crisis:
Does that sound like free markets and beauty of democracy the capitalist elite talk about? Since the implementation of Reserve Banking and deregulation (free markets) money, credit and financial services irresponsibility accelerated to a point of near destruction. I urge you to watch the documentary "Inside Job". This film details what happened during the recent Global Financial Crisis. More importantly it illustrates how the systematic accumulation of monetary power held with banking elite since Reserve Banking was introduced, culminated with the total failure of the monetary/capitalist economic system. And, its still going...
This week the United States Government doesn't have enough money to pay its bills and increased total borrowings debt ceiling. Guess who has to pay for all this again?
This week the United States Government doesn't have enough money to pay its bills and increased total borrowings debt ceiling. Guess who has to pay for all this again?
"Barack Obama has surrendered control of the budget to the Tea Party, whose operatives in congress used the same suicide-bomber tactic, threatening a catastrophic default unless the Democrats committed to a regime of steep spending cuts without any tax increases on the wealthy." - Matt Taibbi Rolling Stone.
I hope if you watch "Inside Job" you will be disheartened as you learn about how the individuals who created the GFC are the same banking whores who were appointed to "fix" the problem and still hold many positions of power and influence in President Obama's "Change, Yes We Can" government. Watch and listen to these champions of free markets and you tell me if any of these guys scare or disgust you more than "brutal" dictators, Marxists or God forbid - Commies!!?!
"But these guys don't openly cause wars, oppress or kill people, they're not as bad as those commie bastards?" - you'll hear the staunch capitalists cry. Let me tell you if you remove your blinkers are "we" worse!? What really disturbs me is if you dig a bit deeper and turn off your mainstream news sources, there is a purposely veiled link between the banking elite and the warmongering of our governments throughout our history. With lies and Bernaysian public relations type campaigns to justify these wars they deceitfully hide their actual financial and economic elitist motivations.
"But these guys don't openly cause wars, oppress or kill people, they're not as bad as those commie bastards?" - you'll hear the staunch capitalists cry. Let me tell you if you remove your blinkers are "we" worse!? What really disturbs me is if you dig a bit deeper and turn off your mainstream news sources, there is a purposely veiled link between the banking elite and the warmongering of our governments throughout our history. With lies and Bernaysian public relations type campaigns to justify these wars they deceitfully hide their actual financial and economic elitist motivations.
"..Like mafia tribes, the governments of the world seek to preserve their current positions of power, while aggressively working to strengthen their economic advantage. As far as social management, all a government can basically do is make laws , establish budgets, and declare wars . They are really monetary system creations. Sadly, due to the very nature of their power, history has become one constant chain of governmental corruption, ranging from the genocidal slaughter of peoples in opposing nations, to the deliberate oppression of a country’s own people in order to maintain the established order. The reason why all governments on the planet are corrupt is because they have to be in this system . Remember, they are no different than corporations, trying to survive in the monetary system. They are all in competition with each other, with periodic “world empires” emerging every couple hundred years or so. In order for any traditional government to keep control over its people, it must push a unified value system. If the leaders of a country want the public to support its wars, they will put statues of “great war heroes” in parks and have the media push the ‘nobleness’ of the military. They also very often cite “god” and allude to their wars as being some form of battle against “evil”. This manipulation keeps an uninformed public on ‘their side’ with a narrow worldview". The Zeitgeist Movement Observations and Responses.
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