What is Digg?544 Comments
- CloakandSwagger, on 04/04/2009, -28/+282"Sign of the times, conspiracy to overthrow the mind
Behind every fortune there's a crime"
-Method Man - principle, on 04/05/2009, -33/+237The Federal Reserve System is a swindle in which the Fed extracts value out of economy by printing money based on debt rather than value. The Fed’s member banks engage in a confidence scheme in which they pretend to have money when they actually owe at least ten times more than they have.
- rcook18, on 04/05/2009, -34/+212What a bunch of sheep who watch themselves being robbed and do nothing.
- bigp3rm, on 04/05/2009, -17/+169If you have a bank/savings account with Bank of America, Chase (Wamu), Wells Fargo close it. Open an account with a local credit union.
Buy a safe. - normlsparky, on 04/05/2009, -2/+143Well, where's the Pecora investigation?
http://en.wikipedia.org/wiki/Pecora_Commission
That's the question that everyone should be asking Obama right now. A full, non-partisan investigation into the cause of this economic disaster is mandatory. If laws were broken or fraud was perpetrated, those who caused the problem should be brought to justice. Their assets should be seized to pay for the cost of fixing the economy instead of tax dollars. - Miraclerock, on 04/05/2009, -22/+148I hope we can finally get put these guys in jail and get rid of the Federal Reserve Scam
- inactive, on 04/05/2009, -13/+109Don't trust Geithner.
A guy who is head of New York Fed and now the Treasury department shouldn't be someone who forgets to pay taxes. This guy did forget to pay his taxes, and now he is in charge of the IRS and tax collection. Also as head of the New York Fed which is in charge of some financial regulation he should have seen a financial crisis coming. Strangely he did not.
Obama's other buddy Emanual sat on Freddie Mac, Fannie mae oversight board in 2000. They only met six times a year, he was paid over $300,000 and stock and when he left 2 years later an independent committee criticized the oversight board for seemingly accomplishing nothing. Now this guy is Chief in Staff. He was very much part in the decision to bypass writing in bill that would have kept AIG from giving bonuses. But Dodd took the fall alone. - DangerCollie, on 04/05/2009, -7/+91I've been on both sides of the regulatory issue and it's entirely possible the banks and mortgage lenders actions were legal. That doesn't mean they were ethical but that's a different realm of enforcement. The financial system had lobbyists on staff at many Congressional offices. They wrote the rules.
Ultimately I think that's the real problem. The inmates were running the asylum. So many people were supporting candidates on social issues like their stand on abortion rather than their competence and integrity as legislators. - richmomz, on 04/05/2009, -10/+86In Capitalist America, the banks rob YOU!
- peaceninja, on 04/05/2009, -2/+77it's sad that a year or two ago, you would have been buried for being an alarmist.
- joe122370, on 04/05/2009, -13/+88if you want to crash the global economy to propose your "one-world government and currency", you have to start somewhere
- inactive, on 04/05/2009, -17/+82Ultimately, said Black, the financial downfall of the United States in the wake of the Bush years is due to "the most elite institutions in America engaging in or facilitating fraud."
"When will Americans wake up and hold the real criminals - Banksters - accountable for their actions, and pressure the government to enact systemic changes to prevent future abuses?"
There it is. I don't take pride in it, and I feel pity with the poor americans who will suffer, but it has to happen, the beast has to die and the population of the US must finally rize up like a beast in anger, howling like a lion, grab them, grab every single one of them and drench the streets in blood. I am talking guillotines, hundreds of them chopping away, 24/7, on the washington mall. CEOs, bankers, lawyers, politicians, sell-outs, deniers and shills. - Samwizen, on 04/05/2009, -7/+69At the very least, seems we are heavily rewarding those who are criminal, negligent, &/or incompetent. And we're told it's for our own good.
Imagine if local politics/justice systems operated that way. - bksuperfly, on 04/05/2009, -8/+63yeah, you are doing so much...
- antime1, on 04/05/2009, -6/+57"Better sign of the times is trying to sound smart by quoting a crack head."
-macmcraeart
Look how smart I am now. - sangjmoon, on 04/05/2009, -26/+76The fraud started with the creation of Freddie Mac. Whenever the government "helps" on a large scale, it ends up hurting the country far more in the long run. The next disaster that will hit our country hard, caused by goverment "help", is the biggest ponzi scheme ever created: Social Security.
- edstate, on 04/05/2009, -5/+52YES YES YES!!! Something nobody has even ASKED much less ANSWERED:
How did all those securities, which everyone KNEW KNEW KNEW were *****... get AAA ***** ratings!?
That, my friends, is the epicenter. - inactive, on 04/05/2009, -15/+57The corporate person is the greatest con job outside organized religion.
- drlha, on 04/05/2009, -9/+49If you want to know how Obamas made their "millions" you can simply look it up on the internet. It mainly comes from a few businesses, Michelle's being a lawyer, and money from books. Its hardly as neferious as you make it sound, and not really that much money (in 2006, their income didn't break $1m, in 2007 it was $2.5m, mostly from book revenues). These numbers hardly put them in the oligarch category.
As for the Clintons, where on earth did you read that they were billionaires? - slapded, on 04/05/2009, -17/+51allow me to quote jon stewart several years ago..
"BUY GOLLLLLLLD!!!!" - jeffiek, on 04/05/2009, -1/+35You can't eat or drink paper either. Your point?
- kouchan21, on 04/05/2009, -6/+39It's time to bring back the guillotine
- inactive, on 04/05/2009, -7/+40I have a feeling there is a storm brewing. It is difficult to rouse this beast but we may be close to the dragon rising up in rage.
- kanojo1969, on 04/05/2009, -5/+37You know, as horrifying as this guy's testimony is, simply watching it streamed from PBS isn't going to do anything. You have to get out in the streets and declare real physical war on the people at the top who are perpetuating this. A revolt is the only way any justice will be done.
Writing a bunch of letters to your congressman isn't going to do *****. Blogging about it is even more pointless. Exchanging incredulous looks with the people you bump into at the water cooler isn't any good either.
What is needed is hundreds of thousands of furious citizens marching to where these people work and occupying the buildings. Blood in the street. And not your usual lefty tree huggers, either. It needs to be the middle class who revolts this time.
For all the whining you do about protecting your 2nd amendment rights, are you actually going to use them? Are you? If not, you are deserve all that you get.
And it's not just about getting the economy to recover. It will recover anyway, it always does. This is about justice and holding people accountable for the crimes they commit. A lot of these suits should be behind bars and yet somehow I just can't see it happening. - kkonarik, on 04/05/2009, -0/+32Already did that :). It isn't being an Alarmist it is a means of trying to cut them off. If enough people stopped supporting the BIG banks they would have to shut down.
- inactive, on 04/05/2009, -8/+40Since the Federal Reserve has been incharge of the money supply the dollar has lost 97% of it's purchasing power. That's just fact. Kind of shoots your whole argument out of the water, doesn't it?
- MWeather, on 04/05/2009, -1/+32"It is criminal to steal a purse, daring to steal a fortune, a mark of greatness to steal a crown. The blame diminishes as the guilt increases" - Johann Friedrich Von Schiller
- OiPunk, on 04/05/2009, -2/+32Just because you don't like Method Man, doesn't make that lyric any less poignant.
- bombula, on 04/05/2009, -2/+32http://www.pbs.org/moyers/journal/04032009/watch.h ...
Full interview. Digg up this article, contact your congressperson and senator, demand a formal investigation. - FiatFaux, on 04/05/2009, -6/+35BIG BEN BERNIE'$ FED didn't have A Clue... Right?
Neither did Treasury Secretary, Mr. GoldSacks, who terrorized congress to rush passage of THE TARP TRAP.
A Classic "Bait & Switch": 100$ of BILLION$ got diverted to Big Buddy Bankers ala Paulson's Goldman Sachs.
Timidy Guideno didn't know either, while he was da Prez of da Top FED BanKing Ponzi System Branch in NY.
Maybe Bernie Madoff was just a big news distraction from the BIG BERNIE PONZI that's still screwing US All! - ElbowGeek, on 04/05/2009, -1/+30If you're referring to the common man who put his trust in the banking system, well the fact is that one should be able to trust the systems in place. We the people didn't know we were getting robbed, so we didn't watch. And we shouldn't have to worry about getting robbed, but we did.
But I've always observed that the whole stock market concept is a big ponzi scheme, thus the boom and bust cycles. - mal1964, on 04/05/2009, -6/+35Fraud, is a very strong word. How about just calling it. Big corporations payroll Lobbyist who get Politicians to pass huge loopholes to make larger profits for the CEO's bonuses
- Arcueid01, on 04/05/2009, -6/+34There is no doubt that this is true. I have been trying to explain this very thing to my friend who is a finance major. He doesn't seem to get it. I keep telling him that would should've and still should just let these bit lending institutions fail. They will lose tons of money and so will many Americans. However, instead of rewarding all of these executives we need to blow the lid off the whole thing so they can be sued for fraud. Then those millions upon millions in bonuses will go to paying back people who lost out on accounts and help with FDIC insurance. Face it even if we can't get them criminally, we can nail them to the wall civilly. I hate the state of affairs in this country. Sure we are all called sheep, but we are all scared that the brainwashed masses in this country won't rally behind a cause. The feeling is that why should we protest and why should I call my congressman because the rest of the people out there are utterly clueless. They watch the major news outlets and listen to their ***** slandered crap that they call news and think that they are informed. So they take that crap and speculate on it more and use that to fuel their opinions which end up so far away from reality you think that they are aliens. Truly sad state of affairs that we have today. And do you think our Congress and President are going to do a god damn thing about it? Hell no! What did Bush do? Bail out banks and go to war. What does obama do? Bail out banks and car companies and go to war. Change you say? Sure different idiot in the White House that told all the sheeple what they wanted to hear and the sheeple elected. Will it ever really change?
- forgiste, on 04/05/2009, -4/+31eager?? you kidding me? look at the price of 1 ounce of gold. Used to be $20 back in the good old days before the fed sank their teeth in, now it's like $1800 for the same amount of gold. Gold hasn't gone up, the dollar has gone down.
- Eorster, on 04/05/2009, -1/+25Did it two months ago. Moved all cash to a local bank. I actually received a letter and phone calls from JP asking if they could do anything for me. No thanks, I don't need your usurious credit card. I need my community and the businesses I do business with to be honest and not thieves looking to make a fast buck off of the unwitting for their bonuses.
- rpapi100, on 04/05/2009, -2/+26You guys should buy canadian currency. It's backed by oil, gold and uranium among other goods (Canada has a lot of natural resources), it's easily exchangeable in the U.S and more importantly it does not help a economic competitor (China, European Union, etc.) but your best economic partner (who is a natural ressource provider)... who just so happens to be the only member of the G8 without a mortgage crisis because it has the some of the strictest banking norms in the world.
I'm not usually a go-Canada guy but IMO it's a no-brainer.
If I knew more about the situation in Great-Britain or Mexico I might formulate the same recommendation. However Mexico does not have the best of reputations when it comes to monetary policies.
Anyway, Canada seems like a safe bet as banking is one of the things it's famous for while not being a fiscal paradise (oh and even if I hate the guy, the Canadian Prime Minister is an economist by training, but I guess in these times that is not worth much). - inactive, on 04/05/2009, -4/+28Let me expand on that a bit.
Technically your explanation of how a Central Bank should work is sound. As long as the bank only increases the money supply in an amount that is equal to the increase in the amount of assets in the economy, then a fiat currency could be stable. In theory.
In practice it has NEVER happened.
The reason that it has never happened and never will is that whoever runs the central bank will use the creation of new money as a means to achieve economic goals. In order to avoid a downturn the bank floods the market with money, just as we are doing today. But that causes inflation and the business cycle.
Apparently human nature makes it irresistable for the people who own and run the central bank,
, in our case a consortium of rich international bankers, - slapded, on 04/05/2009, -4/+28ill take your gold if u dont want it. ill give you some pizza for it
- ThaATrain, on 04/05/2009, -0/+22Since when does weed = crack
- FiatFaux, on 04/05/2009, -10/+32THE FED FIAT FRAUD PONZI is UN-Constitutional & Expressly Prohibited!!!
Only CONGRESS has authority to Coin Money & Regulate the Value thereof!
FED Taxation without Representation by printing "money" & theft via inflation...
Founding Fathers & Patriots fought the US Revolutionary War over TYRANNY!!
Tea Party Revolution? Read Thomas Jefferson's famous "Tree of Liberty" speech - jeffiek, on 04/05/2009, -0/+21They do.
- inactive, on 04/05/2009, -4/+25The "money as debt" model is inherently flawed: in order to pay the interest on the debt money, more money must be created, which leads to more debt, which leads to more money ... and the money supply continually expands. As long as economic output grows at a rate larger than the interest rate everything is fine. But economic output cannot grow exponentially forever ("only economists and fools believe exponential growth goes on forever"), meanwhile the debt can and does grow exponentially. At some point the debt behind the money becomes un-payable.
- ProjectGSX, on 04/05/2009, -2/+22Hoarding cash, yeah, cause the currency can collapse. hoarde gold and you are in good shape.
- EricAnderton, on 04/05/2009, -0/+20@forgiste gets it.
Investing in gold only makes sense when you're attempting to get ahead of inflation. You buy up gold to "lock in" the value of your savings, and then cash back out to fiat money (dollars) much later. The cash out amount will be a much larger number, the longer you wait due to inflation But you're really not making any money since each of those new dollars is worth less than the dollars you used to buy the gold in the first place (again, due to inflation).
Also, keep in mind that gold is produced worldwide at a small rate. So plenty goes into use in electronics, jewelry and dentistry, and plenty more comes into the system. So that combined with it's rarity when compared to other metals is what keeps it so stable. - bombula, on 04/05/2009, -0/+20http://www.pbs.org/moyers/journal/04032009/watch.h ...
Astonishing. Everyone should watch the whole interview. - inactive, on 04/05/2009, -9/+29How about a federal investigation? The mortgage market was clearly tained by political operatives like Chiris Dodd, Barney Frank, Franklin Raines, and Jamie Gorelick. Phoney AAA ratings were given by the ratings agencies to mortgage securities that clearly did not deserve them. Low fed interest rates encouraged the explosive growth of credit. Lending fraud was common at the retail level.
- merlin5, on 04/05/2009, -48/+67I would ask; how did the Clintons became billionaires? How did the Obama’s become millionaires as simple community activists and how much will they be worth in 10 years? For a bureaucrat to make billions they must steal trillions in the name of phony causes.
- foontala, on 04/05/2009, -2/+20@ dOOBiEx213. This isn't about parties and any talk of such is a complete distraction from finding out where the 12.8 trillion of our dollars were spent, promised, or printed. Think I'm kidding about the amount? Have a look at the Bloomberg article below, and then please call your representative (whatever the affiliation) about HR 1207 - Federal Reserve Transparency Act of 2009, (58 cosponsors now);
http://www.bloomberg.com/apps/news?pid=20601087&am ...
Rep. Henry Waxman (D) just signed onto HR 1207 - Federal Reserve Transparency Act of 2009. For what it is worth, they say he's one of the most influential Democrats in the House of Representatives. So, it really does look like bipartisan support is being shown for HR 1207; A bill which simply is not about parties.
Way to go people! - Ne007, on 04/05/2009, -2/+20And instead of getting hung they get paid to do this.....BONUSES FOR EVERYBODY!
-
Show 51 - 100 of 553 discussions
© Digg Inc. 2009
— Content created and posted by Digg users is