The Market has a Name. It is Goldman Sachs

"Money is a new form of slavery, and distinguishable from the old simply by the fact that it is impersonal - that there is no human relation between master and slave." Leo Tolstoy. From What Shall We Say? in the Complete Works of Leo Tolstoy

Corporatocracy

Ken Clarke, the justice secretary and former chancellor, said that it would take two to three years for Britain to get out of the recession.

"People have got to understand it is going to be a long haul,” he said. “We have got ourselves into a real mess."

Meanwhile Mervyn King, the governor of the Bank of England, has warned that UK take-home pay will continue to be squeezed.

You get the feeling we may be being softened up by statements such as these: that we are being prepared for a permanent reduction in our living standards rather than a temporary one.

A pay freeze alongside rising inflation means an effective pay-cut. We are seeing massive cuts in our public services and large scale redundancies. Restructuring of the NHS means privatisation by the back door. Libraries are closing. The lift on the cap on council house rents will lead to a form of social cleansing, as poorer people in wealthy areas are forced to leave.

Bankers bonuses, on the other hand, continue to rise. CEOs of large corporations continue to receive the kind of pay and benefits that would keep whole nations afloat.

The narrative being used to justify all of this is one of economic competence. There is a massive black hole in our budget which needs to be filled. At the same time, the government’s economic advisors - the ones who are prescribing these austerity measures - are also the same people who entirely failed to predict the financial crisis in the first place.

Worse: they are the very people whose economic theories brought the financial system to the brink of collapse. Remember, it was these same “experts” who argued for bank deregulation and a liberalisation of the markets. Wherever these policies have been instituted they have lead to financial chaos and a break down in the social order, as wealth flows upward, from the poor to the rich.

Is this deliberate? Are we seeing the creation of a form of corporate feudalism in which a capitalist aristocracy – a corporatocracy - lords it over the rest of us, with democracy as a convenient front?

Look around you folks: it is already here.

Lloyd Blankfein "doing God's work".
Lloyd Blankfein "doing God's work".

The Market

In an interview on BBC News 24 on the 26th of September 2011, Alessio Rastani, an independent trader, made certain predictions about the economy.

He said that the euro will crash. “Markets are ruled by fear,” he said. “The big funds don’t buy this rescue plan. They know the market is toast. The stock market is finished. They’re moving their money away to other, safer, assets.”

The interviewer asked him if there’s anything that governments can do to prevent it? “I don’t care,” he said. “If I see an opportunity to make money, I go with that. People don’t remember, but the 30s depression wasn’t just about the market crash. There were some people who were prepared to make money off that crash. It’s not a time right now for wishful thinking hoping that the government is going to sort things out. Governments don’t rule the world. Goldman Sachs rules the world.”

Goldman Sachs, in case you don’t know, is the world’s most powerful investment bank.

Some of you may remember an interview in the Times with Lloyd Blankfein, CEO of Goldman Sachs. In it he said that he was “doing God’s work.” That interview came out as a response to an article in Rolling Stone magazine by Matt Taibbi, which accused Goldman Sachs of being like “a great vampire squid wrapped around the face of humanity.”

The article was called The Great American Bubble Machine. I recommend you read it.

Taibbi was very clear. Not only did Goldman Sachs make money from the depression, but it engineered it as well. In fact Taibbi goes on to list a whole series of economic crises that Goldman Sachs specifically engineered in order to make money from them, including the sub-prime crisis which brought about the financial collapse of 2008.

It’s a measure of the veracity of the information in the article that Goldman Sachs never sued him over it.

So the next time you hear someone on the TV telling you what “the market” demands, you should remember this.

The market has a name. It is Goldman Sachs.

Michael Hudson on the public option for banking and Occupy Wall Street

Debt

So our nation is in debt. It is so horribly in debt that it will take several generations to pay it off. It doesn’t matter what party is in power, the end result is the same. It’s job cuts and pay cuts and austerity measures for the foreseeable future.

All nations throughout the western world are in debt. There is so much debt, according to financial experts, that there isn’t enough money in the entire world to pay it off.

Stop and think about that for a second. The human race is in debt to itself for more money than there actually is in existence. Even if we all tightened all of our belts and starved ourselves to death to pay off the debt, we still couldn’t succeed. There just isn’t enough money to do it.

You wonder how this came about. One branch of the human family is in debt to the other. A very few people have so much money they couldn’t spend it in a thousand lifetimes, while large numbers are so poor they can’t even afford the basic necessities of life.

Here’s the problem. Money is created as debt. Banks issue money, but they charge interest on it, so in order to pay the money back the economy as a whole is forced to borrow even more money. It’s a vicious cycle which will go on forever. There can never be enough money to pay off all the accumulated debts.

As a consequence money is always depreciating in value. The term “pound sterling” arises from the fact that originally a pound in money represented a pound weight in silver. At the current rate a pound of silver is worth £316 in sterling. That’s how far the value of our money has depreciated. Where has all this value gone?

Why has gold gone up recently? Actually it hasn’t: it is paper money that has gone down.

Something has gone horribly wrong with our financial system. Since when did we give control of our money supply to a handful of private corporations? The banking system is a parasite on the real economy, and the cause of, not the solution to, the financial crisis.

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Comments 60 comments

the bunco squad profile image

the bunco squad 5 years ago from Savannah GA

This is a most awesome hub. The concepts that we live under are simple yet so few want to understand them. They would rather vote pro life or anti Mexican. Many years ago I went to a Billy Graham revival. The main topic of this particular service was reaching out to what he determined were cults like Mormonism, today I heard his son talking politics with Glenn Beck (an insane Mormon) and wondered how Christians could so easily sell their souls to a Party.


Syzygy 5 years ago

Great but profoundly depressing article... As you have previously described, we are being deliberately driven into Neo-feudalism or Plutonomy. The richest 1000 UK citizens have quadrupled their wealth to 400 billion, since 2008. They alone could pay off the so-called structural deficit, and would still have made a tidy profit. Instead of which, the disabled are having to take to the streets tomorrow to demonstrate to protect their basic needs. It is appalling and cynical.


Hillbilly Zen profile image

Hillbilly Zen 5 years ago from Kentucky

Bravo, CJ. This could just as easily have been written about the U.S. economy/government. Those who say corporate greed isn't destroying the global economy would do well to read this Hub. Up and awesome.


Nils Visser profile image

Nils Visser 5 years ago from The Low Countries

Yup, news just out here is that 100 of the most important pension funds no longer have all the money we "entrusted" (this is mandatory,you're not allowed to earn a salary unless you fork monthly sums over to the pension funds) to them. Put simply, you lend someone 100 quid, they give back 70. Unfortunately the rest was gambled away. I've been robbed in clear daylight, the thieves have government support and even get bonuses for their great work.


fen lander profile image

fen lander 5 years ago from Whitstable

I have to say, I couldn't read that all the way through - fills me with despair and a sense of no answers... I think that thinking won't solve the disease.... schisters will run the banks and the governments will always be beholden to the schisters... revolution is the only answer, and I believe in non-violent direct action. What do we do now?


FitnezzJim profile image

FitnezzJim 5 years ago from Fredericksburg, Virginia

I felt good and bad about this article.

It is good to note that America is not alone with it's economic problems.

It is sad to note that America is not alone with it's economic problems, that in fact it is a world wide problem.


Pam F 5 years ago

An excellent post, which accurately sums up a situation. The greedy rule the world. But there are more of us. Our destiny is in our hands.

Pam @earwiggle


Paraglider profile image

Paraglider 5 years ago from Kyle, Scotland

Hi Chris - the trouble is that even though more people are beginning to understand the debt-interest scam, it is very difficult to defeat it. Mass protest is a start, but actually the only way would seem to be opting out of the economy, via barter and local currencies. The powers aren't keen to let that happen!


Red Henry 5 years ago

How about suggesting a positive alternative to the current parasitic banking system, as in 'A People's Monetary Manifesto' - see http://eu-social-nationalist-manifesto.blogspot.co...


Amanda Severn profile image

Amanda Severn 5 years ago from UK

These are worrying times. The spiral of debt and desparation is exactly what has historically led to revolution. There are solutions, but they're not easy ones. The ideal would of course be for all the major powers to put their egos aside and draw a line under the current situation. Debt could be written off, re-structured, at the stroke of a pen. That won't happen of course, so the solution must come from the people themselves. In America and Australia, where credit unions are widespread, people have an easy way of hurting the banks. Move your money. Don't give the big banks your business. In the UK there aren't so many credit unions, although their numbers are increasing. There are, however, still a number of independent building societies and smaller banks around. Protests are great for expressing general discontent, but action is what's really needed. If banks are the problem, don't feed them. Keep them hungry.


Bard of Ely profile image

Bard of Ely 5 years ago from Lisbon, Portugal

Voted up for this brilliant hub that tell it like it is! I have already seen that Alessio Rastani video and posted it on my Facebook wall a couple of weeks back.


Christoph Reilly profile image

Christoph Reilly 5 years ago from St. Louis

It is a dire situation that has been in the making for many years. There have been warnings along the way, but we failed to heed them. Oh, we may have noticed, but nothing was done, and where has that led us? To the brink of utter ruin. Sadly, I think even this we will not learn from. Getting money out of politics would be a start, but as you point out, it's too little too late. Generations will suffer.


Rob Bell profile image

Rob Bell 5 years ago from London

What dark and evil forces are at work behind the scenes today.

Greed and waste. Too many bankers not enough people making things. The Chinese might be on to something.

I know some are putting their money in gold bars kept in safe storage. If there is going to be a major depression it would make sense to take your money out of the banks.

If the banks collapse a lot will lose their savings. Money will be worthless whereas things will become very valuable. Maybe better to invest in things.


CJStone profile image

CJStone 5 years ago from Whitstable, UK Author

Apologies to everyone who has left a comment here. I put this hub up late last night and I've been out (and working) all day, so haven't got round to answering any of you. Thanks you all for your comments. I will try to respond to them tomorrow.


CJStone profile image

CJStone 5 years ago from Whitstable, UK Author

BTW, for those of you looking for solutions, as opposed to simply underlining the problem, there are now some links, above, which may give us all something to think about.


CJStone profile image

CJStone 5 years ago from Whitstable, UK Author

"Money will be worthless whereas things will become very valuable. Maybe better to invest in things."

Rob, that could be the motto for the entire economy. Isn't that the problem? The bankers have lead us to believe that money can be made from money, whereas real wealth can only be made by making things.

"Getting money out of politics would be a start, but as you point out, it's too little too late. Generations will suffer."

Christoph, yes that would be the start, and I think it should be one of the key demands of the Occupy movement. Hopefully we will all wake up from this nightmare soon and realise that actually money is a fiction, in which case, all this debt can be cancelled overnight.

Thanks Steve. The video is frightening isn't it, though people now say he might be a scammer.

Amanda, you know it was the historical norm to write off debt every so often? Debt is a fiction really. The banks never leant us anything in the strict sense of the word. No physical exchange ever took place. They merely wrote up our debts as their assets. It's a scam, and can easily be reversed.

Hello "Red Henry": I've added the link, above.

Paraglider, no it's not so difficult to defeat. There are a number of suggestion in the links box above. We need governments to take the power back for us by making it illegal for banks to issue money, and then issuing our own debt-free currency as a substitute. Money is a utility, and no one should profit from it, as Michael Hudson suggests in the video above.

FitnezzJim: no need to feel bad about it. The first step is to realise what is going on. It's a world-wide phenomenon. It's us, the people, vs the banks.

Fen: "I think that thinking won't solve the disease.... schisters will run the banks and the governments will always be beholden to the schisters... revolution is the only answer, and I believe in non-violent direct action. What do we do now?"

I think the Occupy movement is the start, don't you? Direct action of the old-fashioned kind. After that we need to start putting pressure on our governments to withdraw their support for this corrupt system and to institute and public banking option, as Michael Hudson suggests above.

Nils, what you describe amounts to fraud. It is time we punished the perpetrators of this crime, rather than giving them bonuses from the public purse.

Hillbilly Zen (still like your name): yes it's a world-wide phenomenon. Hopefully we are all waking up to what is going on.

Syzygy: no need to be depressed. There are solutions available, we just need to realise what they are.

Thanks bunco: yes it is simple. Kenneth Galbraith said: "The process by which banks create money is so simple the mind is repelled." It's about time we changed it.


Paraglider profile image

Paraglider 5 years ago from Kyle, Scotland

Chris, you said "We need governments to take the power back for us by making it illegal for banks to issue money, and then issuing our own debt-free currency as a substitute".

That is exactly right. There should be no privately owned 'for profit' banks, and and the debt-interest economy should be abolished. It's very simple in principle, but where is the will to do it?


CJStone profile image

CJStone 5 years ago from Whitstable, UK Author

I agree Paraglider. Banking is a utility and needs to be publicly controlled. As for how we go about instituting these necessary changes, well the start is in the Occupy movement, I think. We need to sit on their doorsteps and to remind them of who the boss really is. Easier said than done, of course, but at least we are making a start.

PS Christoph is involved in one of the Occupations I think, and I've some friends up in the City.


Matt Price 5 years ago

Great article CJ, you obviously know what you're talking about. I am in complete agreement with the points raised, and would like to add that at the general assembly at the 'Block the Bridge' protest in Westminster there were murmurs of a protest currency. I'm not sure how exactly this would be brought to fruition but an idea to share for sure.

I do have concerns about reform though. Not that I'm against it or anything, it's just that I don't know how we can make the governments work in our interests. Right now the Conservatives are in power in the UK (and indeed throughout the world; scaremongering the ignorant into voting), funded by the banks. Legislation is bought. The powers that be don't give a damn about what we do. I saw a video of the rich types drinking champagne and laughing at OWS as they marched past.

I am of the belief that violence be-gets violence, and thus violent revolution will lead to instability. Permanent, peaceful change can only be achieved by evolution, education, enlightenment. However, I can't see peaceful protesting making any difference in this particular issue. Although, perhaps general strikes would work. If everyone united and brought the country to a standstill, for a prolonged period of time, it would show those in office who really holds power (us!). There is a general strike 30th November in the UK, it would be great to see it spread around the world.

Sorry if some of this sounded very negative and hopeless. I'm not wanting to moan people into inaction or apathy, It's just that I have been feeling quite disillusioned lately.. Nothing I do seems to be making a blind bit of difference.


Nils Visser profile image

Nils Visser 5 years ago from The Low Countries

Matt, you're not the only one who feels like that. I'm appalled that the most common reaction to the pensions news seems to be interest in a Ajax-Feijenoord football match. Many people seem to think it doesn't matter what they do or feel, we get screwed over anyway. Again, the insurance/pensions companies here are backed by the government. There will be no inquiry, no investigation, no blame, just bonuses. They're laughing in our face.


Christoph Reilly profile image

Christoph Reilly 5 years ago from St. Louis

I watched a documentary last night called "The Ascent of Money," by Niall Ferguson, which is a fascinating and enraging look at money from it's creation to now and how it has become so important and, as you say, a fiction. Smoke and mirrors, the truth behind bonds, derivatives, etc. I think it was on the BBC. Everyone should watch this, but it's 5 episodes at 1 hr. each, and the whole thing is currently available. It's eye opening, to say the least. http://www.brainpickings.org/index.php/2011/06/07/...


CJStone profile image

CJStone 5 years ago from Whitstable, UK Author

Christoph: damn, I can't see that programme as it has been blocked in the UK by its makers.

Matt, no you don't sound negative. These are difficult times and I think everyone is feeling confused wondering what is going on? Mind you I haven't heard about the General Strike. You are right: if that spread around the world that would be it. The trick the banking shysters have played upon us is the idea that money creates wealth, which is entirely false. It is work that creates wealth. Once we stop working for them, then everyone will know where the real source of wealth is.


Nils Visser profile image

Nils Visser 5 years ago from The Low Countries

Is the general strike a UK one? Can we try and create a FB viral, get people from all EU countries to pressure their unions to participate?


CJStone profile image

CJStone 5 years ago from Whitstable, UK Author

To be honest Nils, I haven't heard of it, which doesn't bode well for its success does it? It would be great to see though....


Nils Visser profile image

Nils Visser 5 years ago from The Low Countries

You're right, twice.


PETER LUMETTA profile image

PETER LUMETTA 5 years ago from KENAI, ALAKSA

CJ, an astute analysis of the money fiasco. Just a reminder, JFK had put together a proposal to eliminate the "FED" and was assasinated within a short time. They will not go qietly into the night. They will destroy countries and armies if they have to to preserve their power. The mass movements in the world now must take the steps to get us off the debt wagon and eliminate the Large banks like Goldman Sachs, BofA, etc. If these banks can be eliminated, the governments could do it by just writing off the debt to them, then we could be freed from this insidious hold they have on all of us. The governments of the world just keep going along with them and accepting their dictates. Someone must stand up like the USA or Germany or China and kick them out and jail the perpetrators. Then the world will see that everything doesn't end just their control. Great Piece CJ Thanks,

Peter


CJStone profile image

CJStone 5 years ago from Whitstable, UK Author

Thanks Peter. Hopefully we are doing our bit to alert the world of what is happening. Our governments are in hock to the banks. We need to be able to put pressure on them to change their policies.


the bunco squad profile image

the bunco squad 5 years ago from Savannah GA

I have the easiest solution to all of the problems. The Federal Government needs to print money, and lots of it. If we intentionally devalue our currency several things will take place.

1) We will reset the rules for trade with China and other currency manipulators.

2) That money can be injected into the economy and bust the recession.

3) If the amount printed equals the amount held by the upper percentile of wealth holders it will bring back balance to our economic system.

4) We are the biggest purchasers on the planet; it would give us the ability to set the standards for trade.

6) If we put laws into place that deter the raising of prices in compensation of the greater currency circulation, no inflation will occur.

7) Finally, putting ourselves on an equal playing field with our trading partners will bring business back to this country.


CJStone profile image

CJStone 5 years ago from Whitstable, UK Author

You don't have to print notes, you just issue credit, as the banks already do. You use this for public infrastructure projects to give people work. The people then have money to spend and work gets done. That was how the New Deal worked. But you also have to take the right to issue credit away from the banks. The solution is above in the AMI link: Congressman Dennis Kucinich's money reform bill. Also the Positive Money link is useful as there is a simple video to go with it.


the bunco squad profile image

the bunco squad 5 years ago from Savannah GA

You are correct C.J.

I am aware of the A.M.I.’s proposal, and it would be the best answer to the problem. However, I am a realist. All one has to do is remember the lies and distortions propagated by the Right during the Healthcare debate to understand that a proposition like this would never make it past congress no matter who occupied those seats. Can you imagine the propaganda that would be generated? I have taken a lot of flack for over simplification in my articles, but I do this because I understand the mentality of the Right. If the Fed just pumps in the money there is nothing that they can do to stop it and all of the debate and propaganda will be after the fact. At that point the A.M.I.’s solution might become a viable debate, and could garner support from both parties since the Right would be looking for anything to lay their hat on.


CJStone profile image

CJStone 5 years ago from Whitstable, UK Author

Trouble is, as I understand it, the Fed isn't a government agency. It is owned by the banks, hence the need to legislate first. Mind you part of the problem is that you don't really have a "left" in America. Your left equates to our right. Obama has a mandate. He could easily be taking on the media and appealing directly to the people who put their faith in him. Unfortunately he was only ever a brand, never really a true reformer. Bring back Roosevelt.


dave 5 years ago

hi chris

thought you might like this appeal:

http://arirusila.wordpress.com/

by Mikis Theodorakis, composer and former resistance fighter, and Manolis Glezos (man who famously climbed the Acropolis to cut down the massive swastika flag the Nazis hung there after they invaded).

I don't quite agree with all its formulations (just like I don't agree that fiat currency is the root of all evil, rather than a symptom or mechanism).

But still, it's making the point that it's not just restricted to Greece, but something the peoples of Europe (and beyond) have got to do something about together.


CJStone profile image

CJStone 5 years ago from Whitstable, UK Author

Of course it's only a mechanism, Dave, but it is THE mechanism, the main mechanism, and it has remained hidden for a long, long time. Meanwhile the assault on our living standards is gaining pace and we are headed for a new dark age I feel, a new era of barbarism. Thanks for the link. I've included it in the article.


the bunco squad profile image

the bunco squad 5 years ago from Savannah GA

Actual the Fed is both government and private, as odd as that sounds. But the purse strings are held by the Treasury Department. However my thoughts were more along the line of a public referendum demanding either the removal of the Fed or an appropriate monetary infusion to balance the economy and pay off the debt. This would carry us out to about the ten year mark thus giving plenty of time to do tax reform that would keep the balance in check.

And I couldn’t agree more with the rest of your comments. But the alternative to the President is a crop of rotten eggplants. And again with the technology that is at our disposal a national referendum is more than possible. We need someone like you to write the petition and get the ball rolling.


CJStone profile image

CJStone 5 years ago from Whitstable, UK Author

OK Bunco, you put it all down and I'll try to jazz it up a bit. But how would we disseminate it? I'm not all that hot on technology. I'm just a word man.


the bunco squad profile image

the bunco squad 5 years ago from Savannah GA

Give me a couple of days and I’ll email it to you.

I have some good super geek buddies that would love to help the cause. And I still have a few connections in the news business that owe me favors.


CJStone profile image

CJStone 5 years ago from Whitstable, UK Author

Look forward to seeing it. It could start off as a hub maybe.


dave 5 years ago

I don't even agree that it's the main mechanism, Chris. The main mechanism is the extraction of private profit, and the main issue is who has ownership and control.

Lots of what can be more or less be called petty-bourgeois radicals have been banging on about currency reform and "sound money" for ages -- I seem to recall it was one of the many bees in Ezra Pound's bonnet. They come in all shapes and sizes, some quite left wing, others, like Pound, very reactionary, however much I like him as a poet.


CJStone profile image

CJStone 5 years ago from Whitstable, UK Author

Dave, you should at least be pleased that the average American is beginning to wake up to some of this material. I remember you saying a long time ago that until there is a revolution in the United States we are all buggered. It looks like we might have the beginnings of that now. Meanwhile have you read any of Michael Hudson's work? http://michael-hudson.com/ Highly recommended. Chris.


dave 5 years ago

yes, chris, I am bloody pleased.

some of those Americans don't know how revolutionary or even socialist they really are. There a massive potential there.

I'll check out the michael hudson, thanks


dave 5 years ago

I'm bloody happy they're at last beginning to wake up.

I think sometimes a lot of Americans don't realise how revolutionary, even socialist, they really are. There's enormous potential there and it's only just starting.

thanks for the hudson link, I'll check it out.


CJStone profile image

CJStone 5 years ago from Whitstable, UK Author

Dave the main force of the left in the US is anarchism I think: Chomsky and the Wobblies being the most famous examples. Hudson is an American Marxist.


dave 5 years ago

"the main force of the left in the US is anarchism"

not sure that's totally true, Chris, but even if it is,

you know, Marx moved the 1st International from Europe to New York partly to get away from the pernicious influence of the Proudhonists and Bakhuninites in Europe.

I'm sure he'd be rather pissed off if the main "left" force in the US turned out to be anarchism -- and I'm not really sure that it's particularly "left" in any case.


CJStone profile image

CJStone 5 years ago from Whitstable, UK Author

Personally I have an immense affection for the Wobblies as men and women of real integrity and Chomsky is simply incomparable. Where would the world be without him? Where would America be without him? He's kept the flame burning, almost alone, for the last almost fifty years. Don't know if any of them were/are "Proudhonists and Bakhuninites" or not. Chomsky calls himself a "Libertarian Socialist". I'll buy that. I call myself that too.


CJStone profile image

CJStone 5 years ago from Whitstable, UK Author

Chomsky was once asked if he was a Marxist, and he didn't deny it. What he said was that he didn't like philosophies that are named after a person as this tends to create a false sense of loyalty. You don't have Einsteinianism versus Newtonianism in physics, he said, you just have physics.


SanXuary 5 years ago

I love when we have solutions to problems that are not problems for those who created the problem and will never allow a solution to happen in the first place. Obviously the rich are never rich enough and we our not poor enough to make them happy. This sounds like a lousy relationship that is not going to work out at some point in the future. I was born into a ponzi-scheme the hell with voting just give me a picket sign and a gas mask. I am guessing that they will still profit from my death.


lpanfil profile image

lpanfil 5 years ago from Cleveland, Ohio

Aren’t some political candidates proposing the continuation of huge tax breaks and loopholes for the very corporations that running the country into the ground? I pulled all my money out of the stock market when my financial planner foreclosed on his house. I thought it might be wise to follow my own intuition rather than that idiot. To add insult to injury, he lived on my street. So, the bank giving away his home has negatively impacted my home’s valuation.


CJStone profile image

CJStone 5 years ago from Whitstable, UK Author

As I understand it lpanfil, they are. The theory is if the rich get rich we all get rich as a consequence, the rich being seen as "wealth creators". It's not true, of course. The rich are "wealth extractors", as they get richer, so the rest of us get poorer. It sounds like you made the right move pulling all your money out of the stock market.


CJStone profile image

CJStone 5 years ago from Whitstable, UK Author

SanXuary, Adam Smith, the economist put it best of all: "The vile maxim of the masters of mankind," he said: "all for ourselves and none for other people." No, we'll never be poor enough for those people who think they have their wealth by right.

I like your line about being born into a ponzi scheme. How true. I've been thinking the same myself, and plan to write a hub about it.


htodd profile image

htodd 5 years ago from United States

Great post..Thanks


CJStone profile image

CJStone 5 years ago from Whitstable, UK Author

Thanks


Sanxuary 5 years ago

It is called trickle up economics or squeezing a lemon that you made someone else grow but never paid for. You can not own the farm and have no one who can afford to buy your produce. Capitalism no longer works if you win the game by owning everything and you keep demanding greater profits. Your vote does not count when the Politicians receive more then 75 percent of all there funding from outside their districts and even their own states. When lobbyist for major corporations write their own laws and conduct their own research and even approve their own products and call them safe. When Politicians make 20 times more money by becoming lobbyist or spokespersons in a revolving door that spends more then 400 dollars per person who votes you really have no chance.


Fiction and life profile image

Fiction and life 5 years ago from Miami Fl

great post and i have to agree 100% with it.


CJStone profile image

CJStone 5 years ago from Whitstable, UK Author

Thanks Fiction. Glad you liked it.


SD Dickens profile image

SD Dickens 5 years ago

I wonder why the Goldman lackey would make such bold statements on tv. I read the article in Rolling Stone that you referenced and of course I think that perhaps GS is trying to make the markets move for their own benefit by making comments like this in the media. I wonder how many people sold stock and bought treasuries after this aired?


SanXuary 5 years ago

The reason these people say anything is called out of touch. These people live in a world you can not even imagine. They refer to common people and the poor like serial killers refer to their victims in utter contempt of humanity. They blame their victims for their position in life and tell us to buy more of there lie in order to better our lives. They sit in denial of all truth and employ others to take their blame. Simply put they are the pigs that they are and we our better people if we are dead by not becoming one of them.


CJStone profile image

CJStone 5 years ago from Whitstable, UK Author

If you're talking about Alessio Rastani when you say "the Goldman lackey" he's meant to be an independent trader, though there's been some question about his authenticity since. But, yes, you are right, GS wouldn't make statements unless they were intending to move the markets in a particular way. Food for thought. Thanks for your comment.


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CJStone 5 years ago from Whitstable, UK Author

SanXuary, I've heard somewhere that they call us "the Inferiors", but am not sure exactly where I heard that. In Chomsky somewhere. The Jewish term "Goyim" is also used. It means "cattle", meaning we are there to be milked.


SanXuary 5 years ago

Harsh I know but a true analogy that I noticed by being around such people. Take a visit to Palm Springs and visit a few stores of the high and mighty sometime. I will not mention actual locations on here but they are pretty easy to figure out. It is actually stunning and no a lot of these people are not on the same planet as me, not even close. Visiting these people actually opens your eyes to the people who think and want to be like them. Its humorous to meet people who are trying to be arrogant. These people do not try they are mentally disabled and have no clue about the pathetic lives of us little people.


Sanxuary 3 years ago

There is no way you our ever getting out of debt when every corporation and its wealthiest citizens pay nothing in taxes. Still they use all your infrastructure and pollute it every day for free. My understanding is that Europe has a territorial tax system and now you can not even tax these people. My fear is that Europe’s monetary dictatorship will try to be implemented by the same criminals in our country. Keep telling people the truth and tell them to stand together. At a certain point its no longer about money but principal. Eventually, life is not worth living so why live it? Paying taxes grants citizen ship and if they are not paying its obvious they should leave and stop profiting from our labour.

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