The Great Bailout Swindle

Perhaps the most striking fact revealed by the global financial crash -- or rather, by the reaction to it -- is the staggering, astonishing, gargantuan amount of money that the governments of the world have at their command. In just a matter of days, we have seen literally trillions of dollars offered to the financial services sector by national treasuries and central banks across the globe. Britain alone has put $1 trillion at the disposal of the bankers, traders, lenders and speculators; and this has been surpassed by the total package of public money that Washington is shoveling into the financial furnaces of Wall Street and the banks. These radical efforts are being replicated on a slightly smaller scale in France, Germany, Italy, Russia and many other countries.

...Year after year, the ordinary citizens were told by their governments: we have no money to spend on your needs, on your communities, on your infrastructure, on your health, on your children, on your environment, on your quality of life. We can't do those kinds of things any more...

This should be a constant -- and galvanizing -- thought in the minds of the public in the months and years to come. Remember what you could have had, and how it was denied you by the lies and delusions of a powerful elite and their bought-off factotums in government. Remember the trillions of dollars that suddenly appeared when the wheeler-dealers needed money to cover their own greed and stupidity.

...So remember well the lessons of this new October crash: The money to make a better life, to serve the common good, has always been there. But it has been kept from you by deceit, by dogma, by greed, and by the ambition of those who have sold their souls, and betrayed their brothers and sisters, their fellow human creatures, for the sake of privilege and power.

http://www.counterpunch.org/floyd10132008.html


Remember the next time your hear the mantra: "But there's nooooooo mooooney...."

The money has always been there.

Funny though how someone like Donald Rumsfeld by his own admission lose $2-3 trillion in Iraq and none of these fiscally conscious politicians raised so much as an eyebrow. There's "no money" if it isn't someone's pet project in government or corporate America. But get the right people interested in something and surprise surprise! They'll find a way to get it done.

Sooner or later it will trickle down to us...oh, wait..

If the money had "always been there" why did the federal government have to borrow to fund the bailout and stimulus?

"Teh stoopid hurts" it so big.

any issue with borrowing money? They can only do it to serve the failed rich but not to help the rest of us?

Your knee-jerk apologetics for Wall Street criminals is what hurts.

That's the most articulate post of yours I've ever read! Congrats! At least it's not full of WSWS misinformation -- it's just authentic, uh, emotional, ahh, whatever! That's better than affirmatively made up stuff any day.

:hi:

You already know that every dollar the government spends is borrowed, you also know that our entire currency system originates with debt.

The very value of the dollar is created by an agreement to pretend that there is some value to it.

And you also know who controls this system, but they butter your bread, don't they?

"It is hard to make a man understand when his paycheck depends on his not understanding".

"You already know that every dollar the government spends is borrowed, you also know that our entire currency system originates with debt."

No, I don't know that. I know that is false.

In the same vein, I don't "know" that Franklin Delano Roosevelt was a godless commie who tried to destroy the country, that the New Deal was a socialist plot or that the Civil Rights Movement was backed by the Soviets.

There are many bat shit crazy things I don't "know."

See and, just for a second there, I thought you might come clean. Oh well...
:eyes::crazy::eyes:

How many times have I posted that for the last 10 years, I've worked in non-profit education and in writing?

"Dag, the stoopid hurts!"

Anyone who disagrees with you just has to have Goldman Sachs options, right?

economics and currency. The worst part is that you really believe you are liberal.

But, I'm the stupid one.:eyes:

and specifically in asset backed securities. So yes, I consider myself an expert on mortgage backed securities because I used to design them. I have zero financial interest in what I write about. My interest is in correcting the staggering amount of misinformation about finance and economics that gets thrown around here -- for example, your anti-Fed rubbish. Do you know where that nonsense comes from? The far, far right.

The people who think what you wrote also write that the Fed was created so that "the Jews" could keep a stranglehold on the US economy and that Roosevelt was actually Rosenfeld. It's anti-New Deal, John Birch society stuff. Those are the people who came up with the "out of thin air" fairly tale. And it gets spouted here as "liberal" analysis of the Fed.

There are many valid ways to criticize the Fed, but that anti-Semitic crap isn't one of them.

bolster an argument, no matter how ridiculous, does not change the facts.

The meeting that took place to establish the outline for what would become The Fed and those in attendance (with nary a Jew participating) was a fact. The methods used to get it through are also facts.

The power to establish and control our currency was explicitly reserved to The Congress for very good reasons, chief among them was to shut out the European Banking cartel and avoid their time honored traditions of blackmail and theft. The fact that Congress did it badly and then abrogated their duty does not change the facts.

There are many additional facts regarding the theft of our sovereignty, more than enough to fill several books, and the fact that you have been thoroughly inculcated into this system of theft and prospered from it, doesn't alter the fact that it is theft and that there are numerous alternatives to running a national economy that do not involve placing the interests of a small band of parasites above the needs of the nation.

:eyes:

Never mind that the middle class contributes the majority of those taxpayer dollars. :argh:

will hand down on this disaster.
:kick: & R