THE PUBLIC DEBATE IS SHAPED BY THE RICH
9/15/2008 Amid worries that the bankruptcy of Lehman Brothers and the sale of Merrill Lynch over the weekend might not be enough to stop the downward spiral, stocks fell sharply in the last half hour of trading.
By the end of the day, the Dow Jones industrial average had dropped 504.48 points, or 4.4 percent, as a record volume of more than 8 billion shares traded hands on the New York Stock Exchange.
It was the biggest decline since Sept. 17, 2001 — the day the index reopened after the 9/11 terrorist attacks — when it fell 7 percent or 684.81 points.
MERCHANTS AND BANKERS ARE CONSIDERED LOW CLASS PEOPLE.
“Merchants have no country,” wrote Thomas Jefferson in 1814.
“The mere spot they stand on does not constitute so strong an attachment as that from which they draw their gains.”
Ronald Reagan‘s OMB Director on the true cause for the explosion of America’s debt.
David Stockman was the Director of the the Office of Management and Budget for President Ronald Reagan from January 21, 1981 to August 1, 1965.
“This debt explosion has resulted not from big spending by the Democrats, but instead the Republican Party’s embrace, about three decades ago, of the insidious doctrine that deficits don’t matter if they result from tax cuts.” ~ David Stockman .. 60 Minutes
HOW TO MAKE A MINT: THE CRYPTOGRAPHY OF ANONYMOUS ELECTRONIC CASH
Laurie Law, Susan Sabett, Jerry Solinas
National Security Agency Office of Information Security Research and Technology Cryptology Division 18 June 1996
MIT produces thieves and Psycopaths
Of the 1% By the 1% For the 1%
Larry Summers explains Washington to Elizabeth Warren in one sentence: “In the spring of 2009, after the panel issued its third report, critical of the bailout, Larry Summers took Warren out to dinner in Washington and, she recalls, told her that she had a choice to make. She could be an insider or an outsider, but if she was going to be an insider she needed to understand one unbreakable rule about insiders: ‘They don’t criticize other insiders.’“
Like the Wall Street tycoons whose systemic fraud triggered the 2008 global financial crisis, Hillary Clinton who is backed by Wall Street is a protected insider. It’s rigged! Winners bail out Winners not losers.
INSIDERS DON’T PROSECUTE OTHER INSIDERS
THE PUBLIC DEBATE IS SHAPED BY THE RICH
PRIVATE INTERESTS SHAPING PUBLIC EDUCATION
IS FINANCIAL MISEDUCATION
Since 2002, the number of states that require students be tested on their economics coursework has dropped from 27 to 16. In 2013 only 14 states require students to take a personal finance course in high school; 22 require a course in economics. But all this information could be integrated into social studies, math, english and geography.
All these F’ing geniuses: Ezra Klein, expert-driven journalism, and the phony Washington consensus 9/14/14
Ever wonder why the eCONomic experts never seem to change, keep coming back, despite racking up such shattering failures as the housing bubble and the financial crisis and the bank bailouts? Ever wonder why a guy like Larry Summers gets to be chief economist at the World Bank, then gets to deregulate Wall Street, then gets to bail Wall Street out, then almost gets to become chairman of the Fed, and then gets to make sage pronouncements on the subject of—yes— inequality? It’s for the same bad reasons: Because D.C. worships expertise and because Summers, along with a handful of other geniuses, are leading figures in a professional discipline dominated by what a well-informed observer once called a “politburo for correct economic thinking.”
2008
Warren noted that at the time of its bankruptcy, Lehman had $639 billion in assets; today, JPMorgan has nearly $2.5 trillion in assets. Warren also said that Lehman had 209 subsidiaries when it failed; today, JPMorgan has 3,391 subsidiaries, or more than 15 times the number Lehman had when it went under. Before delivering the stat about how many subsidiaries JPMorgan has, Warren said, “I almost couldn’t believe this when I read it.” In response, Yellen said the Fed is continuing to work with firms to give them feedback regarding their plans, a response Warren wasn’t thrilled with, asking Yellen, “[Has JPMorgan] ever gotten to a plan, which you can stay with a straight face, is credible?”
Of the 1% By the 1% For the 1%
A system that accords treatment based on who someone is, rather than what they’ve done, is the opposite of one conducted under the rule of law. It is, instead, one of systemic privilege.
Larry Summers explains Washington to Elizabeth Warren in one sentence:
“In the spring of 2009, after the panel issued its third report, critical of the bailout, Larry Summers took Warren out to dinner in Washington and, she recalls, told her that she had a choice to make. She could be an insider or an outsider, but if she was going to be an insider she needed to understand one unbreakable rule about insiders: ‘They don’t criticize other insiders.‘“
Wall Street tycoons whose systemic fraud triggered the 2008 global financial crisis, backed by Wall Street is a protected insider. It’s rigged! Winners bail out Winners not losers.
INSIDERS DON’T PROSECUTE OTHER INSIDERS
Ultimate Insider:
FBI Director James Comey, an Obama appointee who served in the Bush DOJ condemned Clinton on the ground that she and her colleagues were “extremely careless in their handling of very sensitive, highly classified information,” including Top Secret material.
Comey explained, the FBI is recommending to the Justice Department that Clinton not be charged with any crime. “Although there is evidence of potential violations of the statutes regarding the handling of classified information,” he said, “our judgment is that no reasonable prosecutor would bring such a case.” It is NOT his place to say who is “reasonable”!
2001 Thanksgiving thousands of well meaning bitcoin folks told their friends and family to buy and hold only bitcoin (when it was $60,000) for the next 10 years and they did.
Now the folks who thought they were doing something good for their friends and family feel terrible and don’t know how to face them this thanksgiving.
THANKSGIVING 2002
MIT INSIDERS FAIL
MIT Media Lab
MIT grifter Jeffery Epstein
MIT Sam Bankman Fried
MIT Gary Gensler
Bottom Line:
Gary Gensler only allowed a Crypto ETF NEVER a BITCOIN SPOT ETC
Money going into gold ETFs does nothing for the gold stocks, it just lines the pockets of the Investment Banks that dreamed up these ETFs and derivatives. It is doubtful that it even creates gold demand as these ETFs only have paper claims to gold and no clear physical custody. The prospectus is sketchy and for sure there is no audits of gold holdings. It is on the word of these Investment Banks and we know how good that has been in the last several years.
DID YOU KNOW?
SAME THING APPLIES TO GRAYSCALE ETF
Joseph Bankman, the father of embattled FTX founder Sam Bankman-Fried, helped Sen. Elizabeth Warren, D-Mass., draft legislation to simplify the tax code in 2016 Tax Filing Simplification Act in April 2016.
Joseph Bankman, a law professor at Stanford University, penned a letter of support for the bill, which other scholars signed.
SBF’s father, Joseph Bankman, is an expert on tax shelters and a professor at Stanford…
the legal org chart of FTX… HQ in Bahamas, and the main holding companies were registered in Antigua, Cayman, BVI, Seychelles, Delaware… all with 0% profit tax… but hey, tax the rich…
Warren who currently hates bitcoin chairs both the Senate Banking Committee’s economic policy subcommittee and Senate Finance Committee’s fiscal responsibility subcommittee.
Gensler wants to take over Janet Yellen’s job but needs Elizabeth’s vote.
Gary Gensler’s daughter works for Elizabeth Warren.
SBF sought regulation in meetings with Gensler to control the crypto space in a way that would give him a monopoly.
Gary Gensler is at fault for suppressing the value of bitcoin by disallowing a Spot ETF and only permitting a gamblers ETF to exist. This was the exact same thing the SEC did with gold, which led to LIBOR.
Because Gensler never gave any rules for regulation Gensler pushed business off shore . Gensler represents wall street.
Caroline Ellison parents are Glenn And Sara Fisher Ellison
Where FTX’s Money Went and the law firms that helped.
No one is above the law
until they pay the appropriate campaign contributions
or go to work for the justice system
THIS EXPLAINS WHY THE VERY PEOPLE NOMINATED TO GUARD THE PUBLIC IS NO WHERE TO BE SEEN.
INSIDERS
DON’T PROSECUTE
OTHER INSIDERS
John Kerry Secretary of State’s “Forbes” ancestors were opium drug runners in China. The problems never change only the players.
Citizens must shrink K Street. The revolving door between a Government job and becoming a lobbyist.
11/23/22 New York bans new Bitcoin mining for 2 more years – Bloomberg
Etymology of Junk (CRYPTO)
“Chinese sailing ship,” 1610s, from Port. junco, from Malay jong “ship, large boat” (13c.), probably from Javanese djong.
Etymology of Junk Bond
Junk “worthless stuff,” mid-14c., junke “old cable or rope” (nautical), of uncertain origin, perhaps from O.Fr. junc “rush,” from L. juncus “rush, reed.” Nautical use extended to “old refuse from boats and ships” (1842), then to “old or discarded articles of any kind” (1884). The verb meaning “to throw away as trash, to scrap” is from 1916. Junk food is from 1971; junk art is from 1966; junk mail first attested 1954.Etymology of Junker “young German noble,” 1550s, from Ger. Junker, from O.H.G. juncherro, lit. “young lord,” from junc “young” + herro “lord.” Pejorative sense of “reactionary younger member of the Prussian aristocracy” (1865) dates from Bismarck’s domestic policy.
IT IS NOT A THEORY WHEN YOU CAN SHOW PROOF OF STRATEGY
The Erosion of Trust in the USA:
In No One We Trust
✔ Top 1% holds 40% of our nation’s wealth & top 20% holds 93% of it.
Bahamas Government Orders FTX “Hack”
Bahamian authorities ordered Sam Bankman-Fried, previously the main figurehead of the collapsed FTX exchange, to transfer hundreds of millions of dollars of crypto from FTX to a wallet controlled by the Securities Commission of The Bahamas.
The Commission confirmed it ordered the transfer in a Thursday press release. In the statement, the Commission said that on November 12 officials “took the action of directing the transfer of all digital assets of [FTX] to a digital wallet controlled by the Commission, for safekeeping.” The note added that FTX was ordered to move the assets “to protect the interests of clients and creditors.”
Opinion: Stay away from anything to do with “crypto” it isn’t Bitcoin. Bitcoin is Bitcoin. Bitcoin is the only savings that is OUTSIDE their system. It is the only asymmetrical savings.
THE FIGHT FOR CONTROL
OF THE WORLD’S WEALTH
IS BETWEEN MERCHANTS AND ROYALTY
The very essence of the banking system, is to make us all slaves to debt. Those who control the debt, control everything.
‘Forever chemicals’ destroyed by simple new method