Debt is a “soft” form of slavery. In America today, it is not legal to bind people up with chains and force them to work for you, but that doesn’t mean that there are not millions upon millions of slaves in this country.
When you borrow money, you willingly become a servant to the lender. Sadly, there are millions of Americans that will spend the rest of their lives working to pay off their debts, but they will never escape the endless debt slavery that they have gotten themselves into.
SHORT STORY: Pick something of value, make bets on the future value of “something”, add contract & you have a derivative. Banks make massive profits on derivatives, and when the bubble bursts chances are the tax payer will end up with the bill. This visualizes the total coverage for derivatives (notional). Similar to insurance company’s total coverage for all cars.
Lets take a look at what banks have the biggest Derivative Exposures and what scandals they’ve been lately involved in.
The question is all the more perplexing, because the United States is not only producing more crude oil but also using less of it. As a result, net oil imports have dropped a third since 2005. With such good fortune, America’s soaring pump prices seem to defy the laws of supply and demand — except for one fact: It’s increasingly not just about us.
(6) Oil Speculation: As a result of speculation among these and other major players, an estimated 60 percent of the price of oil per barrel was added; a $100 barrel of oil, in reality, should cost $40 [source: Engdahl]. And despite having an agency created to prevent just such speculative price inflation, by the time oil prices skyrocketed, the government had made a paper tiger out of it. http://money.howstuffworks.com/oil-speculation-raise-gas-price1.htm
That Wells Fargo has fraudulently processed mortgage documents using a process called robo-signing has been evident for nearly two years, since scandal enveloped the mortgage industry in 2010. That it kept doing it even after the scandal broke has been known for months. The practice, at Wells Fargo and other Wall Street banks, has led to waves of improperforeclosures and a $25 billion settlement with the federal government and state attorneys general.
*hyperlinks and video live at source*
The first 51 minutes of this video (following discussion here) from Claremont Colleges’ Center for Process Studies’ conference, “Money-Creation in a Finite World,” is Professor Mark Anielski’s presentation to explain how economics can, and should, be designed to enlighten, inform, and empower accomplishment of human happiness. Note: the bottom-right of the video has screen options to switch screen-in-screen and full-screen options.
The 99% must achieve factual command of the basic facts how money and credit are created, or else continue their debt-damned existence under an oligarchic and Robber Baron-era structure.
Only 3 percent of the $7.6 billion in TARP funds that are targeted for troubled homeowners facing foreclosure have been spent, according to a report by the Office of the Special Inspector General for the Troubled Asset Relief Fund.
The Hardest Hit Fund was created in 2010 to help struggling homeowners, but the Treasury Department has failed to distribute the vast majority of the money in the last two years due to “a lack of comprehensive planning,” the report said.
In July 1944, delegates from 44 nations met at Bretton Woods, New Hampshire – the United Nations Monetary and Financial Conference – and agreed to “peg” their currencies to the U.S. dollar, the only currency strong enough to meet the rising demands for international currency transactions.
“I’m fasting and praying to God that this company will be benevolent enough to see that the company is its workers,” cocktail waitress Dawn Vaseur said, pushing back tears. Vaseur, one of thirteen Station Casinos workers on a week-long hunger strike, is literally starving to protest the working conditions and the union-busting campaign taking place just outside the Las Vegas Strip.
The problem for Vaseur and her colleagues is, they are totally expendable, and can be fired and replaced in a heartbeat by the casinos’ owners and managers, particularly where decent-paying jobs are hard to find.
Unfortunately, this kind of scenario is playing out all over the country.
The Congressional Budget Office said Thursday that 45 million people in 2011 received Supplemental Nutrition Assistance Program benefits, a 70% increase from 2007. It said the number of people receiving the benefits, commonly known as food stamps, would continue growing until 2014.
Spending for the program, not including administrative costs, rose to $72 billion in 2011, up from $30 billion four years earlier. The CBO projected that one in seven U.S. residents received food stamps last year.
If these projections are correct, then no one in their right might can possibly characterize what is going on right now as an “economic recovery.”
U.S. companies made more money in the first three months this year than almost anyone expected. As earnings reports roll in, they’re beating the estimates of stock analysts at a rate not seen in more than a decade.
Yet stocks have languished. The Standard & Poor’s 500 index has fallen about 2 percent in April. So why aren’t investors impressed?
(*Here comes the hooey)
MONTPELIER, VT – With yesterday’s vote in the state house, Vermont is now the first state to call for an amendment to abolish the doctrine known as “Corporate Personhood” which gives corporations constitutional rights meant to protect people.
Hawaii and New Mexico have passed resolutions against the Citizens United v. FEC ruling by the Supreme Court, but the Vermont resolution goes beyond simply overturning that case and aims to remove corporations from the constitution altogether and make clear that money is not speech and that campaign spending and political contributions can be regulated by government…
(NaturalNews) The plaintiffs in a case seeking protection from Monsanto’s predatory patent lawsuits have filed a Notice of Appeal challenging the case’s recent dismissal by Judge Naomi Buchwald of the U.S. District Court for the Southern District of New York. The Organic Seed Growers and Trade Association (OSGATA) and dozens of other food freedom advocacy groups and family farmers originally filed the suit on behalf of small growers everywhere in order to defend them against Monsanto’s crusade of agricultural terrorism.