Thursday, April 15, 2010

You don't say?

Greetings good citizen,

This IS NOT another rant about the inexplicable performance of the financial markets, although, if you are ‘allergic’ to commentary on/about the markets then this piece is not for you!

That said, it is, er, ‘interesting’ to see how many sites are remarking about the market’s persistent rise. Why this suddenly strikes the rest of the world as ‘unusual’ when it has had me baffled for months is a conundrum beyond reckoning, but there it is.

One can only guess this is due to the markets rising while nothing has actually changed for the better…

Or wait, could it be that the markets are ‘celebrating’ NOT being over run by torch bearing, er, ‘peasants’ who (accidentally) destroy all evidence of their misdeeds while protesting their exploitation? (Beware torch bearers in suits!)

Stranger shit has happened good citizen…

Which is to ask if these pricks are actually celebrating ripping the rest of us off with impunity?

Let us delve into tonight’s offering for a closer look..

[Hat tip: Some Assembly Required]

11 Examples Of How Insanely Corrupt The U.S. Financial System Has Become

If you ask most Americans, they will agree that the financial system is corrupt. It is generally assumed that just like most politicians, most big bankers are corrupt by nature.

But the truth is that the vast majority of Americans have no idea just how corrupt the U.S. financial system has become.

The reality is that the American Dream is literally being stolen from millions of Americans right out from under their noses and they don't even realize it. The corruption on Wall Street has become so deep and so vast that it is hard to even find the words to describe it. The level of greed being displayed by many Wall Street firms would make Gordon Gecko blush. It seems that the major financial players will try just about anything these days - as long as they think they can get away with it. But in the process they are contributing to the destruction of the greatest economic machine that the planet has ever seen.

Here's 11 Examples Of The Insane Corruption On Wall Street >
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Price manipulation of gold and silver [This is a Power Point presentation if you follow the link, thus the ‘double labels’ in text mode…]

Price manipulation of gold and silver
An industry insider "whistle blower" has come forward with "smoking gun" evidence that major financial institutions have been openly and blatantly manipulating the price of gold and silver. But so far those who are supposed to be regulating these firms have been sitting back and doing nothing about it.

"Gold deposits" with no relation to actual gold

"Gold deposits" with no relation to actual gold
It has also now come out that most "gold" that is traded on the markets is not backed by the actual metal itself. For years, most people have assumed that the London Bullion Market Association, the world's largest gold market, had actual gold to back up the massive "gold deposits" at the major LBMA banks. But that is not the truth at all. Industry insiders are now revealing that LBMA banks actually have approximately a hundred times more gold deposits than actual gold bullion. When most people think they are buying gold what they are actually buying is pieces of paper that say that they own gold. Meanwhile they are being charged huge storage fees to store the gold.
No punishment for AIG-destroyer Joe Cassano

No punishment for AIG-destroyer Joe Cassano
The guy who helped bring down AIG is going to get off scott-free and will be able to keep the millions in profits that he made in the process. It must be nice to be him.
Backstab hedging at Goldman Sachs

Backstab hedging at Goldman Sachs
Goldman Sachs is denying that it "bet against its clients" when it changed its position in the housing market in 2007. But the reality is that is exactly when they did and a lot of things that are even worse than that. The corruption at Goldman Sachs is very deep and very entrenched, but they will never be fully investigated because they have such close ties to the U.S. government.
Predatory deals against American cities

Predatory deals against American cities

LA's desperate mayor Antonio Villaraigosa
It is being alleged that the biggest banks in the United States are ripping off American cities with the same predatory deals that brought down the financial system of Greece. Of course the big banks will rip off just about anyone these days if they think they can get away with it.
"Repo 105"

"Repo 105"
Several major Wall Street banks are being accused of using accounting techniques similar to those utilized by Lehman Brothers in its final days to mask the size of their balance sheets at the end of reporting periods.
The Federal Reserve Ponzi scheme

The Federal Reserve Ponzi scheme
The Federal Reserve bought up the vast majority of U.S. government debt in 2009. Many analysts claim that this is the same as "printing money out of thin air", while others are openly calling it a Ponzi scheme.
Even the Fed bets on state defaults

Even the Fed bets on state defaults
It turns out that the Federal Reserve holds credit-default swaps on the debt of Florida schools, and on debt owed by the states of California and Nevada. So the Federal Reserve would profit if one of those states defaulted on its debt. Talk about a conflict of interest.
Record bonuses during and after the financial crisis

Record bonuses during and after the financial crisis
Executives at many of the firms that received large amounts of money during the Wall Street bailouts are being lavished with record bonuses as millions of other average Americans are suffering intensely. Even the CEOs of bailed-out regional banks are getting big raises.
Invasive data mining by credit card companies

Invasive data mining by credit card companies
We may not know much about what is going on inside some of these banks, but they sure do know a lot about us. For example, it has been revealed that the data mining operations of the major credit card companies are becoming so sophisticated that they can actually predict how likely you are to get a divorce.
A national debt that dooms our children

A national debt that dooms our children
But the biggest financial fraud of all is being committed against the American people. The exploding U.S. national debt threatens to destroy the financial future of literally generations of Americans. It is obscenely immoral to saddle our children and our grandchildren with the biggest mountain of debt in the history of the world. If they get the chance, future generations of Americans will look back and curse this generation for what we have done to them.
Don't miss...

Don't miss...

15 Mind-Blowing Facts About Wealth And Inequality In America
Tags: Wall Street, Features, Corruption
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If I may, I would like to take on a topic that I find truly disturbing, statements like THIS: “A national debt that dooms our children”

The hugely mistaken notion here is that there is ‘a way forward’ carrying this debt, there isn’t.

More preposterous is the idea that any of this ‘debt’ is ‘legitimate’! If someone provides you with something that costs them nothing, what do you ‘owe’ them (besides gratitude?)

Come on people, the answer is in the damn question: NOTHING!

But a contract is a contract…HA! (Only if you’re STUPID enough to honor it! What is the first ‘rule’ of contracts? Come on, everybody knows this one… “Contracts were MADE TO BE BROKEN!”)

The ‘Dirty Dozen’ (ish) on display above didn’t come about through playing by the rules, did they?

Like many things in predatory capitalist land, a contract is only good until it isn’t…then the ‘chase is on.’ Or, as we all know “How much is it worth to ya?” Which is another way of pointing out that it is one thing to be awarded a judgement and something else entirely to actually COLLECT it!

Everybody KNOWS this but for some (truly bizarre) reason, they pretend the ‘fantasy world’ (How we’re ‘taught’ things work) actually exists.

Lies DO NOT = FACTS…(just in case you were wondering…)

I’m sure some of you are nodding along with me, denying that what I have stated here isn’t the absolute truth as you know it. (Because living in the ‘pretend world’ is safer and more secure than the one you actually occupy.)

I honestly do make an effort NOT to flip you out good citizen…but sometimes there’s nothing for it. We all need a little ‘dope slap/reality check’ every once in a while or the ‘How do the rotten bastards keep getting away with it’ factor will make our heads explode! (And some other poor bastard will go on a rampage with a firearm because they can’t take it anymore…)

Um, Thanks for letting me inside your head…although I’m not so sure you appreciate my messing with your mind like this…


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