Archive for the crash Category

The rise of Bitcoin: and the challenge to the global domination of big money

Posted in alternative, analysis, banks, capitalism, class, collapse, corporate fascism, corporate rule, corporations, corporatism, corporatocracy, crash, currency, debt, deficit, dollar crisis, economic collapse, economics, economy, Financial coup, geopolitics, globalism, globalization, money, neo-feudalism, political economy, politics, sociology, sovereignty, tipping point with tags , , , , , , , , , , , , , , , , , , , , , , on December 11, 2013 by jtoddring

The following article was written on October 25. I wanted to read it over once more before publishing it, then got busy with other things and forgot about it. In the roughly six weeks that have passed since the writing of this article, the Bitcoin prices have gone from roughly $200 to over $700. There have been fluctuations, as there are with all currencies, and particularly so since this is a new currency, but the overall trend is up, and in fact, Bitcoin is skyrocketing, as we predicted. People will say, well, it is fluctuating, as if that means that it is not stable. That is a foolish view, since all currencies fluctuate, and more importantly, because the overall trend has been to astronomical growth. What other currency do you know that increased its value twenty fold in just over a year, and then increased another 400% in less than two months? That’s right, none. If you had bought Bitcoins in November of 2012, they would have cost you $10 each, and they would now be worth almost $800 each. Can you think of any other investment or currency that performs remotely as well? This is extraordinarily rare. Those who are ahead of the curve tend to catch the best opportunities, and Bitcoin is no exception. Sociology and political-economic implications aside, which are very large and possibly quite profound, Bitcoin is giant in terms of investment and savings opportunities. From what I have seen, the analysis below still holds, and in fact is re-affirmed by the accuracy of its predictions as to the continued rise of Bitcoin, which we have seen in its nearly 400% jump in six weeks. Bitcoin has great potential, in a number of important ways, and we would be wise to look more into it.

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I first came across Bitcoin from the website of Max Keiser. Since Max seems to be the single most lucid person on the planet when it comes to global finance, I thought, this must be something worth looking into. Then last night my brother-in-law started talking to me excitedly about Bitcoin, and he is a pretty smart guy, so I thought, it is definitely time to look into this. And it turns out, it is a phenomenon that is exploding. Even the habitually staid and blinkered investment community is taking notice.

BERLIN, GERMANY - APRIL 11:  The bitcoin websi...

(Courtesy of Getty Images)

“Bitcoins are a virtual currency that can be used to pay for goods and services around the world.  To participate in the bitcoin market, one needs a digital wallet, which can be filled either by purchasing bitcoins for goods, services or currency, or by acquiring them through a complex process known as “mining.”  (Better termed, “minting”.) The bitcoins can then be used to purchase goods or services, or sold on an exchange.  While virtual currencies have traditionally been used to purchase illicit substances, like guns and drugs, they are now accepted by numerous legitimate businesses for everything from gift cards to jets and yachts.”

– Forbes

Until recently, Bitcoin was an obscure alternative currency that seems to have been used primarily for online trading, purchases and sales, among the few businesses and individuals who have decided to make use of it – anything from illegal drugs bought and sold on Silk Road, which the FBI just took down, to wine and muffins, as one Forbes columnist described it.

But now, Bitcoin is being accepted by pubs in Berlin as a form of payment. A Federal US judge in Texas has ruled that Bitcoins are a form of money – a bit slow on the uptake, but better late than never. And the giant internet company in China which is the peer of Google, has started to accept payment in Bitcoins. So the threshold has been reached. Bitcoin seems to have definitely arrived.

Businesses like Bitcoins because it saves them money. Using Visa or Amex as a means of financial exchange costs businesses 2-3% per transaction. That may not sound like much, but for a small business, and even for many large businesses, that can add up to large, painful costs. By comparison, businesses can accept Bitcoin as a method of payment, and it only costs them 1%. That is very attractive to business owners.

Bitcoin came under some negative press due to the Silk Road trade in illegal drugs using Bitcoin, and the price or exchange rate of Bitcoin compared to other currencies dropped for a time, but it has since risen. Business owners and investors seem to feel better now that Silk Road is gone and the currency is not associated with drug trade.

But really, that would be an insane reaction on the part of the public to shy away from Bitcoin because a few of the people who use it, use it to buy or sell drugs. The main currency used for the global drug trade was US dollars until recently, and it is still one of the two main currencies used for the trillion dollar a year illicit drug trade and the money laundering that goes with it, the Euro now being reportedly more popular among big time drug traffickers.

All of the big banks are involved with laundering drug money – hundreds of billions of dollars of it a year – and they handle drug money mainly in US dollars and Euros. But nobody says, I cannot use US dollars or Euros, because that is drug trade money. The irrationality comes out of ignorance and denial. Bitcoin, as far as I can see, is every bit as legitimate as US dollars, Euros or Yen, and probably more stable.

In fact, after the FBI raided Silk Road, they confiscated millions of dollars in Bitcoins. So the US government, and specifically the FBI, is now one of the biggest investors in Bitcoin, holding roughly five percent of the global currency. Strange bedfellows indeed.

But governments and the big banks do not tend to like Bitcoin (despite the fact that the FBI is holding billions of dollars in Bitcoins) because it threatens their control of the global financial system. So the backlash is on. However, if government and the big banks are attacking Bitcoin, then we can reasonably guess that it is because it threatens their power, and for that reason, Bitcoin may really have the potential to liberate the people from the money masters who now rule the world, or at least help in that endeavour.

“Bitcoin, an enticingly anonymous “cryptocurrency” designed to wrest the international currency system from the hands of central bankers…must face a force far larger and immensely more powerful than mere lobbyists. The status quo that cryptocurrencies threaten is the international monetary system. Its opponents are therefore the current custodians of that system — namely the governments of the world. Bitcoin was never subtle about the challenge it posed. The very first sentence of the abstract in Nakamoto’s 2008 paper promised to “allow online payments to be sent directly from one party to another without going through a financial institution.” The paper then described a way to originate — that is to “mine,” or perhaps more accurately to “mint” — Bitcoins. Yet history teaches that sovereigns of all stripes guard two prerogatives with particular zeal: the right to wage war and the right to mint currency. Bitcoin thus explicitly threatened one of the two fundamental, defining powers of government.”

– Bruce Abramson, Forbes

What Abramson failed to mention, in his otherwise excellent article, was that the Federal Reserve is not part of the US government. It is a private bank, controlled by the Wall Street and London banking elite. In fact, the majority of central banks in the world are private. That means that the banking elite control the printing of money, and not the people, through a publicly owned central bank, run and overseen by a democratically elected government.

The founding fathers of the United States felt so strongly about keeping control of the printing of money in the hands of the people, and not private banking elites, that they wrote it into the Constitution that no one shall have the power to print money other than Congress.

The banking elite tried to get the central bank of the US privatized early on. Thomas Jefferson fought them and defeated them. Abraham Lincoln fought them and defeated them, and some have felt that he was assassinated for that reason. Andrew Jackson fought them and defeated them, and also took a bullet for it, but lived. He even had it written on his tombstone: “I killed the bank.”

Then, as the History Channel and others have recounted the story, The Money Masters, the most powerful business elites in the US, met together on Jeckyl Island, and hatched the plan to finally succeed in gaining control over the money supply. Woodrow Wilson was duped into going along with it, and in 1917 signed into law the Federal Reserve Act, which created the private central bank which became known as the Federal Reserve. Woodrow Wilson later came to profoundly regret his error, and said that he had effectively destroyed his country without knowing it.

Now the control of the money supply and the right to print money is in the hands of the banking elite – and whoever controls the money, effectively controls the nation – or, by now, the world.

It used to be the case that “He who holds the gold makes the rules.” But after the US unilaterally abolished the gold standard, things have changed. Now the fact of the matter is this: he who controls the printing of money rules the world. And that makes the banks very happy. It should make the rest of us shudder.

As US President James Garfield said, “He who controls the money supply controls the nation.”

Or as one of the members of the leading banking elite family dynasties in the world, Mayer Amschel Rothschild said, “Give me control of a nations money and I care not who makes the laws.”

Or as the former Prime Minister of Canada, William Lyon Mackenzie King said, “Once a nation parts with the control of its currency and credit, it matters not who makes that nation’s laws. Usury, once in control, will wreck any nation. Until the control of the issue of currency and credit is restored to government and recognized as its most conspicuous and sacred responsibility, all talk of the sovereignty of Parliament and of democracy is idle and futile.”

Reclaiming control over the money we use to buy and sell and trade, is therefore of supreme importance. Bitcoin may indeed become a part of the answer to that central and critical task.

The more central task is for the people to reclaim their governments and their democracy, and having done that, to restore the power to print money to the hands of the people, through a public central bank, owned and governed by the people through their elected representatives in Congress or Parliament. All talk of social change, justice, democracy or freedom is both idle and futile until and unless this is recognized and acted upon.

But let’s have some more history and information on Bitcoin before we consider such monumental changes to our world, and the potential liberation of human beings from the banking elite who now dominate the planet and effectively rule the earth. (See the Swiss systems analysis study, which I have written about earlier, and which confirmed that a handful of corporations, mainly banks, effectively dominate the entire world economy, if there is any doubt as to the accuracy of such a statement.)

The alternative currency known as Bitcoin has seen its price rise from $10 per Bitcoin in November 2012, to over $200 in less than a year. While other currencies are highly unstable for a number of reasons – including the US dollar, the Euro, the British Pound, and also the Canadian dollar, which is foolishly tied far too closely to the US dollar and the US economy – Bitcoin may prove to be much more stable. It does not compare to gold or silver for stability, but it may prove to be a safer bet than the paper money which the global economy now floats on, which is a bubble that is about to soon burst.

(see my previous articles on the rise and fall of the petrodollar, the global economic crisis, and one that I think was titled, Stock broker shocks BBC reporter, saying, The collapse is coming, and Goldman Sachs rules the world.) 

I have only begun to look into Bitcoin, but it certainly seems to show some promise, and definitely warrants further investigation, for anyone who does not want to see their bank account or their money go up in puff of smoke when the paper currencies fall, as they most assuredly will.

(See Max Keiser and Gerald Cenente for more on this.)

What we definitely need is an alternative currency which is stable and can be used for savings, purchases, sales and trade at the local level, nationally and also internationally. The presently ruling paper currencies are simply unstable and unreliable, as anyone knows who has looked into the subject in any depth. Gold and silver are stable and hold their value well, but it would be far more convenient to trade in an electronic currency than in gold or silver coins. Bitcoin just might provide a much needed, and in fact, an urgently needed solution.

Until and unless national governments, or local communities, create stable currencies which are not pure fiction, and which have more value than the paper they are not printed on, we need an alternative currency. And probably even after governments get their financial acts together, alternative currencies will remain important, as a safeguard. Do not put all your eggs in one basket.

The US dollar is definitely going to crash, and when it does, it will bring down virtually all other currencies in a cascading collapse, because all of the central banks of the world are chocked to the gills with US dollars as reserves. The shell game of moving money from one currency to another will not save us, nor will it last much longer.

This all seems inconceivable to most people, and cryptic as well as unbelievable. But it is easily understood. A fourth grader can understand it, if it is explained in simple terms and the official jargon and doublespeak is stripped away.

Look at what happened in the Weimar Republic. The German government was in debt, and started printing money at an accelerating pace to pay the debt, until finally, the value of the currency collapsed, and you literally had to take a wheelbarrow of money to the store to buy a loaf of bread. That is what is coming. Your money will soon be worthless.

The over-printing of money always devalues and ultimately destroys a currency. And that is exactly what the US Federal Reserve and the other major central banks are doing. As Max Keiser said, the paper money apocalypse is coming. And as Gerald Celente has said, it will mean a greater depression than the Great Depression.

To give the Fed some credit, they simply have no choice, or so they believe, but to continue to dump billions of dollars a month into the economy – namely, by flying a helicopter over Wall Street and shoveling money out the door: dumping billions of dollars a day into the biggest banks to keep them afloat, and in the process, keeping afloat the deceitful and dishonest ideology of trickle-down economics. (Trickle-down should really be called trickle-on: the money goes to the rich, and the poor and middle class never see it – they just get yellow rain.)

The Fed seems to believe they have no choice but to do what they are doing, because if they stopped dumping money into the economy, the economy would collapse. And they are right. They could give billions a day to home-owners and citizens, and stimulate the economy that way, but they choose to give it to themselves – the banking elite. But one way or another, they have to keep pumping money into the economy to keep it from collapsing.

But – and here is the catch – by pumping money into the economy, they have to first have money from somewhere to put into it, and as they lack that – or at least, they are unwilling to use their own multi-trillion dollar private assets which sit in offshore accounts – they have to resort to printing money out of thin air. And when you print money out of thin air, you devalue the currency. So the Fed is printing money like there is no tomorrow, in order to prop up the economy and keep it from collapsing, but in doing so, they are devaluing the currency, which is guaranteeing that the currency will collapse. By trying to stave off a major market readjustment, meaning, an economic collapse and a depression, they are guaranteeing that when the collapse does come, it will be utterly severe and simply catastrophic in its impact.

They know this perfectly well. They know full well that their wild printing of money is going to cause the dollar, sooner or later, to be devalued, and to collapse, as holders of US dollars and Treasury Bonds lose confidence in the currency, for obvious reasons, and begin to divest themselves of this worthless paper.

The sell off which will ensue as the world flees the sinking US dollar will mean the dollar will become worth only one or two percent of its present value. This is exactly what happened in the Wiemar Republic, when precisely the same pattern of over-printing money brought on radical devaluation of the currency, and the German Mark became worth only one one-thousandth of its former value, and hyper-inflation set in.

Of course, when a depression hits, the financial and business elite have an orgy of looting and a feeding frenzy, buying up real estate, businesses, factories, farms, homes and other assets at fire sale prices, so they are perfectly happy with this result.

The banking elite love disaster – they feed off of it. So do not think the Fed or the rest of the banking elite are going to protect you from an economic collapse. They are the ones bringing it on, and they are the ones who are going to benefit astronomically from it when it comes.

Ben Bernanke said of the last Great Depression, and the role of the Fed and the private banking elite who control it, in that Depression, “We did it.” The banking elite who control the Federal Reserve and the money supply created a credit bubble by flooding the country with cheap money and credit, then they pulled the plug and burst the bubble, by contracting credit and cutting off the money supply. The result was the Great Depression. Massive human suffering was created across the Western world, but the super-rich got even richer, so they won, while everyone else lost.

We should take a lesson from history, and not allow the money masters, or “the monied aristocracy”, as Thomas Jefferson called the banking elite, to do this again. But I am afraid that the people are not yet sufficiently awake, or awake in sizable enough numbers, to reclaim their power before the manufactured disaster is upon them; therefore, I would say that the collapse will not likely be avoided, and that it is a virtual fact, due to the passivity of the people themselves.

 

The paper money we rely on is going to fail us. You can be sure of that. We had better start thinking about what we would do if our paper money becomes worthless, because it is going to.

Gold and silver are the smartest places to put your money, next to land you can garden on, and mortgage-free, rent-free accommodation. But Bitcoin may well be the next best place to diversify savings, and not have them disappear.

There are other alternative currencies, such as LETS, Ithaca Dollars, Toronto Dollars, etc, and they definitely merit attention as well. Most of them are strictly local currencies however, and they probably will need a secondary currency of some form for inter-community, national and international trade, even if they ever do become the main currency in use in a given town, city, county or region. Again, Bitcoin may bridge that gap. 

But again, I am new to the phenomenon, so while the need for a stable alternative currency is real and great, even urgent, whether or not Bitcoin fits the bill is something I am not yet sure of. Do your own research, would be my recommendation. It is my recommendation for every topic, in any case.

In sum, the importance of Bitcoin, if it really does prove to be a stable currency, is that it is stable, while all others – with the exception of gold and silver – are not. That means that it may prove to be a safe haven, and a way that we can continue to buy and sell and trade goods and services – to get paid for our labour and to buy things we need – after the paper money collapses.

It is definitely strongly advisable to shift money from paper money to land, tools, solar panels, wind power, seeds and garden tools, and secondarily, into gold and silver. It may be very smart to look more into Bitcoin as well, and I would say it would be wise to invest in Bitcoins as well.

Two new phenomena may end up transforming the world of banking, money and finance, and they are crowd-sourced funding and Bitcoin. The former is a definite strong contender as a catalyst for serious, major social change. Bitcoin my turn out to be the sister element to a whole new global economy, but again, I would have to look into it much more to say that with any confidence. Right now, it seems to be just a possibility – one scenario among many that could unfold in the near future.

As Forbes said, “Smart money always bets on government in the short term and technology in the long term.” The government seems too big to fail, but we know from history that governments can and do fail, and their currencies and economies as well. Look at France in the late 18th century: the government was in serious debt, and the Treasury finally went bust – that was the trigger which brought on the French Revolution. In Germany under the Wiemar Republic, the government failed utterly, the currency collapsed, and instead of a popular revolution, the German people and the world got fascism and the Nazis. So things can go either way when governments, currencies or economies collapse – a liberating revolution may ensue, or we may end up with tyranny and fascism, depending on how the people react. But what is certain, however it unfolds and whatever follows, is that collapse can and does happen. And it is coming.

Whatever you do, take your money out of banks, put it in credit unions and co-op banks, or better, in a safe – and divest yourself completely of your paper money, keeping only as much as you need for liquidity, and daily or monthly purchases, and putting the rest into something safe: like land, tools, silver and gold, and maybe Bitcoins as a minor element as well.

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What is the significance of Bitcoin?

Security, Investment, and Revolution

 

Bitcoin seems to me to have three major points of significance as a social phenomenon. First, it offers people increased material security. The paper currencies which now dominate the global economy and which people rely on to buy their daily bread and whatever else they may want or need and can afford, if they can afford it, are simply unstable. In fact, with the currency wars that are being waged now, currencies are being systematically devalued, which means the purchasing power of paper money, or fiat currency, as it is properly called, is shrinking, prices are rising in relation to purchasing power, which is called inflation, of course; and worst of all, with the fiat money paper currencies being systematically devalued, they are guaranteed to collapse, and soon. Bitcoins are not subject to such radical devaluation or collapse, because they are in limited supply, unlike the paper money which is being printed in the trillions of dollars. So Bitcoins can be used as a safe place to store money when virtually all other forms of investment and all paper monies are extremely unstable and heading for collapse. That is the first significance of Bitcoin – it provides increased financial and material, economic security for people who are smart enough, or have enough foresight, to make use of it.

Secondly, Bitcoin offers investment opportunity. Bitcoin’s value has risen 200% over the past year. The New York Stock Exchange is at an all-time low in relation to Bitcoin. While the paper money of fiat currencies approach collapse, and the global economy approaches collapse, meaning most investments and also savings will be wiped out, Bitcoin remains strong and continues to rise in value, along with gold and silver. Bitcoins were trading at a price of just over $10 in November of 2012. As of this October they are selling for over $200. [As noted, this figure is as of October 25, 2013, when this article was written. When the article was reviewed by the author on December 10, 2013, the value of Bitcoins had risen to nearly $800.] With a limited supply of Bitcoins and falling values of paper money currencies, the price of Bitcoins is likely to rise to over $1,000.

Remember that I advised people to invest in gold and silver in 2006, when I warned that an economic collapse was coming – predicting the global financial crisis of 2007-2008, while virtually everyone was saying that things are just rosy. Silver and gold have doubled and tripled their value since then, respectively, and of course, the severe global economic crisis that I predicted did hit, and hit severely. So when I say, buy Bitcoins, and buy gold and silver, there is a proven track record of accurate predictions to back that up. This is not coming out of thin air.

Thirdly, Bitcoin may prove to be truly revolutionary. That word is wildy over-used, and used to puff and promote and hype everything from toothpaste to toilet paper, but in this case, it just may apply. We will see. Bitcoin certainly has the potential to challenge the global dominance of the banking elite in their world hegemony over the global economy and monetary system. If enough people start to use Bitcoin, then it could empower the people, while reducing the excessive powers of the global financial elite; and this, in combination with other grassroots political and economic actions, could actually bring about a much-needed revolution. Bitcoin could be one more powerful tool which the people have, with which to reclaim their power, and to dethrone the bankers and other business elites who have essentially taken over the global economy as well as the political parties, governments, media and nations of the world.

Can Bitcoin be stopped? The banking and corporate elite, and their henchmen in government certainly would like to stop it, since it threatens their power, their global dominance and their astronomically high profits, but I don’t see how it can be stopped. Bitcoin, like the internet, has no single focal point, but rather it is distributed and decentralized. The internet was built by the Pentagon’s Defence Advanced Research Projects Agency, or DARPA, to be a fail-safe that could not be destroyed, by reason that if one node goes down, data would flow through another route, as Max Keiser has also described. Being based on the internet and being decentralized, Bitcoin is the same. The only way Bitcoin could be stopped, Max said, would be to shut down the entire internet – but even then, Bitcoin could work offline, on thumb drives. So Bitcoin appears to be unstoppable. And it is exploding in growth, with people using it every day all around the world.

Whether or not Bitcoin helps to spark a revolution, it certainly tips the scales back in favour of the people, and away from the global business elite, and that is most definitely a good thing. It is one more way that the people can empower themselves.

And in the process, it can also give people more economic security and improved material well-being, and in these uncertain and difficult times, that is also a very good thing.

J. Todd Ring,
October 25, 2013

 

Forbes has some interesting articles on Bitcoin here:

http://www.forbes.com/sites/kashmirhill/2013/10/23/five-possible-reasons-for-bitcoins-most-recent-surge/

http://www.forbes.com/sites/davidthier/2013/10/24/why-this-entrepeneur-thinks-bitcoins-are-here-to-stay/

http://www.forbes.com/sites/realspin/2013/10/08/the-bitcoin-backlash-is-underlay-by-a-quivering-status-quo/ 

But don’t take Forbes word as gospel, of course. Far better, listen to what Max Keiser has to say about Bitcoin – the man who has the most-watched financial analysis TV show on the planet, the most widely trusted financial analyst in the world, the insider’s insider who wrote the software for the New York Stock Exchange, and probably the person who understands the global financial system better than anyone alive.

Max Keiser on Bitcoin Currency | Interview with Max Keiser

Is Bitcoin money? – Max Keiser
http://www.huffingtonpost.com/max-keiser/is-bitcoin-money_b_2849031.html

 

 

 

Mexico City: A study in impermanence, and a lesson to us all

Posted in activism, alternative, alternatives, analysis, anthropology, collapse, consciousness, conservation, crash, disaster, ecological crisis, ecology, empowerment, end-game, global warming, Mexico, must-read, political economy, politics, politics of oil, post-carbon, social theory, sociology, sustainability, tipping point, truth with tags , , on October 19, 2013 by jtoddring

pablo lopez luz photographs the concrete waves (or carpet, as he puts it) of Mexico City

 

The unbelievably sprawling concrete carpet of Mexico City seen in these photos make me think… Gorgeous country, beautiful culture and people, horrible government, amazing capital city – but utterly unsustainable, as most cities are. Watch for the ruins – like those in Palenque or Tikal, the ruins of the fallen, once-great cities of the Maya, now covered over by jungle.

Watch for the ruins of most of our present sprawling modern cities, as the people flee the collapsing infrastructure, brought on by our own unwillingness to live in ecological balance.

Sayonara.

Return to nature? We will soon have no choice. As Matt Stein, Ronald Wright, Jared Diamond, David Suzuki and many others have told us, we are bringing on a collapse of our civilization, due to our ecological neglect. We will go back to nature, and learn once again to live more simply, as well as more richly, rest assured. Some of us will do it voluntarily, and with foresight. Others will be forced into it, by necessity as infrastructure breaks down.

Foresight is always the wiser path.

The work to protect nature and all life on earth must go on, of course, and so too must we work towards a sustainable society, both sociologically and ecologically. But we must now also man the life boats. The ship is sinking. Of that, there is no longer any doubt. Human beings will carry on, but not without some major challenges ahead. It is time to face the music, and deal with the facts as they are, and not as we wish them to be.

J. Todd Ring,
October 18, 2013

Are we alone? More importantly, are we even awake?

Posted in activism, alternative, alternatives, analysis, anthropology, books, collapse, consciousness, conservation, cosmology, crash, disaster, ecological crisis, ecology, end-game, environment with tags , , , , , , , , , on October 19, 2013 by jtoddring

The “man the life boats and head for the stars” answer to our present human dilemmas is simply delusional. We can and should explore space, but if we don’t get our act together here on this planet immediately, we’re dead – extinct: plain and simple.

A recent book seems once again to miss that point entirely, sadly, judging from an interview with the author in The Atlantic, titled, Are We Alone?

http://www.theatlantic.com/technology/archive/2013/10/are-we-alone/280706/

A better question might be, Are we awake? Because at present, all indications are that we are sleep-walking into our own self-annihilation, as David Suzuki, Ronald Wright, Jared Diamond and others have said.

The Atlantic asks, “What are the big intellectual questions today?” Well, we can say this much: the big intellectual questions do not include asking how we can build a space ship to fly a handful of the richest people on Earth to some fantasy space colony and leave behind billions of our fellow species and the vast majority of our fellow human beings to slowly drown in the excrement we have left as our legacy.

Even if this were technologically possible within the remaining time-span before our civilization’s infrastructure crumbles under the weight of our own self-created ecological holocaust – which it is not; it would be grossly irresponsible, inhuman, obscenely callous and cold-hearted, and unethical in the extreme.

And by the way, if the scientists who are star-struck and mesmerized by these dreams of escape into space from a world we are actively destroying, think for a moment that their seat on the grand interstellar lifeboat is secure, they had better think again.

Firstly, space colonization is, by all reasonable assessments, 50 years off, if we are wildly optimistic, and more realistically, 100 to 200 years away: but, by World Bank and other estimates, at our present pace of ecological destruction, we will be extinct in 50 years – and our civilizations infrastructure, including our capacity to build or utilize advanced technology, will have collapsed quite some time before that. So it is pure fantasy to begin with.

And second, even if this somehow did magically come to fruition, there would only be a few seats available, in all likelihood – and they would, of course, go to the super-rich who will fund such projects and who can afford the seats. The rest of us may get lip service, but will simply be left to go down with the ship. And the scientists will be shoved out the door when their job is done, have no doubt; and will be left behind like the rest of us – were such fairy tales ever to become reality at all.

But let’s return to the first point: the basic facts as to our present capacity for colonizing space.

Firstly,do we remember the project to build a self-contained and self-sustaining miniature ecosystem on earth? I forget what it was called, but it is forgotten, and not mentioned, and the reason is, that it was a complete failure. We have no idea how to set up a self-sustaining ecosystem that would support even the simplest forms of life, much less human beings.

As geneticist and environmentalist David Suzuki has said, our understanding of life is still very rudimentary. Optimism is great, but if it is not grounded in reality, in an honest assessment of where we presently stand, then it is not optimism at all, but sheer foolishness.

We are far from having the knowledge to create the life-support systems that would replicate another earth. So all such talk is grand speculation, and such feats are at least generations away, even if they are possible or desirable.

Secondly, the study of other earth-like, potentially habitable planets, or exoplanetology, is in its infancy. We are at least decades away, in all likelihood, from even discovering a potential candidate for a new planet to call home – to say nothing of finding the means to get there, and then, to successfully colonize it.

Thirdly, even if we somehow found what appears to be a perfect candidate for a second home on some distant earth-like planet, we are a century or more away, if we are lucky, from developing the means even to travel there, much less to live there.

So we are really talking science fiction here, and would be better off watching Star Trek, and munching on popcorn, than devoting serious time and energy to such things, when we are approaching impact with a civilization-shattering and possibly species terminating ecological cataclysm of our own creation.

At least if we are watching Star Trek, we are not distracting or misguiding anyone with our drivel about how we’re going to save humanity by such ungrounded fantasies of colonizing space before the ship of our civilization is sunk by our own hands.

No, if we are to have lifeboats, as we wisely should, they must be earth-bound. We need contingency plans, fall-back plans, but they will be earth-based, or they will be merely whimsical, and based in sheer self-deceit and illusion.

I would say that we have a better chance of being beamed up and rescued by friendly aliens than we have of building a starship and colonizing space in time, before our civilization collapses and such questions are mute, as the technological capacity for them has been laid to waste, even if the theoretical know-how is achieved.

Dream of the stars, but live on the earth. We will go to the stars one day, most likely, but not in this generation, and not for several generations to come – and no human beings will live to see it unless we get our act together and learn how to live on this planet, and in very short order.

The big questions today do not revolve around grand schemes of techno-fantasy and the colonization of space. They are grounded in the real world, here on planet earth.

The big questions today – aside from the perennial questions, the deeper questions, of who we are, what is real and what is the true nature of our own being – the most pressing of questions today, are these:

1. How do we survive the next 25 to 50 years without going extinct?

And,

2. How do we live in justice, harmony and peace on this small, fragile, beautiful planet we call home?

If we fail to answer these two questions, and answer them in practice, and not just in theory, then we will have failed our children, our grandchildren, and all of our fellow human beings – not to mention the rest of the living beings we share the planet with.

And if we insist upon obsessing about other, ultimately more trivial matters, then we are either sleep-walking toward our collective suicide, or else, we are sociopathic, or simply mad.

First things first. End wars and empire. Restore or create authentic citizen’s democracy, with freedom and human rights for all. End poverty and injustice. (There is more than enough money and resources to accomplish this – it is simply a matter of will, and resource distribution.) And find ways now to live on this earth without destroying the basis of all life on the planet.

By this time, we really would have to be wilfully ignorant, if not simply self-deluding, to believe that there are other, more pressing issues – or any way around these issues, than to confront them directly.

Time to wake up.

We have run out of time for daydreams and technophilic fantasies. We need to learn how to live in peace and ecological balance on this planet, right now.

The writing is clearly on the wall. We have run out of time for obfuscations, reality-avoidance, or waiting to see what happens. It is time for decisive and clear-minded action.

Now.

J. Todd Ring,
October 18, 2013

 

US government shutdown, and other fairy tales and examples of political theatre

Posted in American politics, analysis, banks, Barack Obama, Canada, Canadian politics, Chomsky, collapse, consciousness, corporate fascism, corporate rule, corporations, corporatism, corporatocracy, crash, crisis of democracy, debt, deficit, democracy, democratic deficit, Democratic Party, economics, economy, elite, empire, empowerment, far right, fascism, fascist, fiscal conservative, freedom, geopolitics, health care, imperialism, money, neo-feudalism, neocon, neoconservatism, neoliberalism, Obama, police state, policy, political economy, politics, propaganda, psychology, Republican, Republican Party, right, right wing, sociology, the right, truth, U.S., war, war on democracy, wellness with tags , , , , , , , , , , , , , , , on October 1, 2013 by jtoddring

I’m not sure what to make of the hoopla going on in the US right now. I’m inclined to think it’s all just political theatre, as Gerald Celente calls it, designed to distract the people from the real issues – the central one being, who controls the government and the nation? Wall Street, the big banks and largest corporations, or the people? After all, both of the major parties are controlled by the same six big banks, the private banking cartel which is the Fed, the military-industrial-security complex, Wall Street and the biggest 500 corporations on the planet, so what is this charade really about? As Celente said, it’s WWF – the World Wrestling Federation: it’s all scripted; it’s all political theatre. They all work for the same people.

Some Americans, mainly on the right, and mainly the rich, want to shrink government and abolish social programs that help and protect the poor, as well as the middle class – and half of Americans are now living below, at, or just above the poverty line, so that means 50% of the American people would get badly shafted, and far more would be badly hurt.

Some Americans – the overwhelming majority, well over 70% – favour public, universal health care, such as Canada, Britain, Europe and most of the civilized world has. But Obamacare is nothing of the sort. Obamacare is Romneycare – Obama simply took Romney’s package and made it his own. Obamacare, like Obama’s entire presidency, is designed to appease and sooth the masses and post-pone real political action, popular uprising or social unrest, while continuing the facilitation of the rape and pillage of the nation and the world by the largest corporations and the wealthiest 0.01%. What is amazing is that more people do not yet recognize these facts, although a great many, and a growing number do. The Obamacare package averts public, universal health care, which the people want, props up a crumbling private, massively subsidized for-profit health care system, and will put even more money into private, for-profit health insurance and health industry corporations, with dubious benefit to the people, if any. So the entire debate is dishonest to begin with, and radically out of joint with reality.

Furthermore, for those who want to cut government debt and spending, it should be noted, and made clear, that one of the best ways to do that, along with ending war and de-funding the massive military-industrial-security complex, the imperial storm troopers, the goon squads and the surveillance state, is to switch to a public health care system. (See Chomsky for a clear-headed and honest analysis of these points.)

The for-profit private health care system of the US has been shown repeatedly to cost far more than the public, not-for-profit health care systems of Canada, Britain and Europe. So once again, the debate is a farce; is filled with deceit; and again, radically out of sync with reality.

In the face of all of this, I don’t know whether to laugh or cry. I tend to worry greatly for the American people, as I do for human beings and all life on earth generally; but I trust they will resolve these problems. In the meantime, I pray, and will do all I can to seek out and share the best information and ideas I can find – from the left, right, centre, and anywhere I can find them.

Will the government shut down? Hardly likely, it seems to me. If it does, it will be disastrous for millions of people – even though the US government is the biggest criminal syndicate on the planet, next to the billionaire oligarchs who control it, along with virtually every other nation and government on earth. But a shutdown of the US government probably would not last long in any case, and the big bureaucratic machine of the state will restart again, if for no other reason, than because the people who control it – the super-rich, the corporate and banking elite, rely on it as a cash cow, a welfare state for the rich, a constant source of dizzying subsidies, bail-outs and forced wealth transfers from the people to the ruling plutocrats (they call it a “stimulus” package); and as a protective hired thug which can be, and is being used to keep an increasingly unruly rabble and frustrated populace subdued and under control, so that the great global looting spree can continue unabated.

The US government has handed the biggest banks and the global banking elite $14 trillion since the economic crisis of 2007-2008 erupted – enough to pay off the mortgages of every American, and every student debt and credit card debt, and all personal debts in the US, with approximately $13 trillion left to spare: which is enough to eliminate global poverty many times over, or, enough to eliminate global poverty, and create the global infrastructure for a truly sustainable society. Other corporate sectors are receiving smaller sums, in the range of a mere few tens or hundreds of billions of dollars a year, in regular subsidies, bail-outs and props. The six biggest banks now control a huge swath of the US economy, yet they are now fully dependent on on-going government subsidies just to survive. Their profits now are roughly equal to what they are receiving in regular government “stimulus” moneys, meaning, they would be forced out of business if they had to go without massive public funding from the government. This is to say nothing of the giant military-industrial-security and surveillance complex and its over $1 trillion annual cash flood coming from Washington and the Federal budget. Do we really believe that the same people who fund and control both of the two major parties want this gravy train to end? Think again. Not on your life.

No, the true rulers, the global business elite, need the US government, and will not let it be shutdown for long, if at all. So again, I am inclined to view all of this melodrama and hyperbole as so much theatre: bread and circuses, my friends, bread and circuses.

Keep the people divided – divide and conquer being rule number one for any good power-monger; and feed them bread and circuses to keep them distracted while their pockets are picked, and to keep their eyes diverted from the shackles and chains around their necks, wrists and legs. And sometimes, soap operas, sit-coms, “reality tv,” sports and celebrity gossip are not enough – political theatre is also needed; and so, it is provided.

The reality is, there are far too many pigs that are neck deep with their heads in the trough for the government to shut down for long. The ruling oligarchs simply won’t allow it, so let’s be real here, and keep such facts in mind while the hysteria mounts.

If the US government, or either of the major parties was truly interested in reducing the debt and deficit, then the on-going wars of empire would be ceased immediately and sworn off, all foreign US military bases would be closed, the military-industrial-security complex would be radically de-funded and the global surveillance and police state apparatus shut down, with savings of close to $1 trillion a year – which would mean that were is no more fiscal crisis.

If, in addition to this, universally accessible, publicly funded not-for-profit health care was brought in, further enormous cost savings would be made, and there would be a windfall of money available for real economic recovery, job creation, infrastructure and urgently needed environmental programs.

But none of this is on the agenda, none of this is even open to discussion, for the simple reason that the ruling class of plutocrats and corporate tsars and robber barons don’t want this, because that wouldn’t benefit them.

This is the real story; the rest, a mere charade.

J. Todd Ring,
September 30, 2013

BBC speechless as trader tells truth: “Collapse is coming… and Goldman Sachs rules the world”

Posted in alternative, alternatives, analysis, banks, class, collapse, crash, currency, dollar crisis, economics, economy, elite, empire, empowerment, Feudalism, globalism, globalization, must-read, political economy, resources with tags , , , , , , on November 3, 2011 by jtoddring

Move your money now – put it into gold, silver, and if you can, more importantly, a piece of land that can feed your family, tools for self-reliance such as solar and wind energy, seeds and garden tools, a trailer, teepee, yurt or cottage, in case you have to fall back on these.  Equally, or more important: build relationships of solidarity and mutual aid with neighbours, friends, family and community members so you can help one another through any possible hard times ahead.

Forget the U.S. dollar, by the way. It may hold up and even rally after the Euro falls, but the U.S. dollar is definitely going to collapse, for a number of major reasons, and when it does, it will take down the world’s economy, as it is the reserve currency of the world, held by all of the central banks. U.S. Treasury bonds will be worthless when the U.S. Treasury officially becomes insolvent, which it will. The only safe currencies now – or investments or savings – are gold and silver. But even gold and silver cannot feed you if the economic system truly collapses, which it almost certainly will. Real assets, hard assets, like garden space, seeds, tools, home-based renewable energy, knowledge, practical skills, and above all human solidarity, are the safest places to put your confidence and protect your future.

Don’t say you weren’t warned. Take it as you like. Remember, I warned people of a fast-approaching economic meltdown in 2007, one year before it happened, when virtually everyone was saying things are just rosy. I will not enjoy being right again. I would rather be wrong, but I don’t think that will be the case, and in any event, prudence is best.

Living hand to mouth, in debt, beyond our means, and with no real safety net, as most people are now living, is unwise to say the least, and also, in most cases, unnecessary. Do what you can, while you can. As the Italian saying goes, putting your head in the sand will not make the headache go away.

We will get through this hard time, but as ever, those who are prepared and have their eyes wide open, are likely to fare better. They will also be in a better position, due to their willingness to face both the pleasant and unpleasant truths directly, to be of help to their families, friends, communities and others. Better to follow the boy scout motto, I think: always be prepared. Or said another way, hope for the best; prepare for the worst.

Be well. This too shall pass.

JTR,
November 3, 2011

BBC speechless as trader tells truth: “Collapse is coming… and Goldman Sachs rules the world”

Reclaiming democracy for the common good – and for the survival and future of our children: the political economy of environmental sanity and democratic renewal

Posted in activism, alternative, alternatives, analysis, books, capitalism, collapse, consciousness, conservation, corporations, corporatism, corporatocracy, crash, debt, deficit, disaster, ecological crisis, ecology, elite, environment, Kropotkin, must-read, policy, political economy, political philosophy, political theory, politics, renewable, resources, social theory, sociology, sustainability, tipping point with tags , , , , , , , , , , , , , , , , , , , , , , , , , , , , on September 28, 2011 by jtoddring

Yesterday, September 27, the Global Footprint Network declared as Earth Overshoot Day: the day that humans have used up all renewable resources available for the year. Not good. This obviously cannot continue. Limitless growth in material consumption and “production” clearly cannot be sustained on a finite planet. (We can have limitless growth in culture, the arts, science, the mind, spirituality and quality of life, but not in material production and consumption.) We are depleting our collective inheritance: which should rightfully be shared equitably, through democratic popular control of the commons to which we all share usafructory rights – despite our present unjust and unwise socio-economic, legal and cultural norms – as well as used wisely and compassionately, and not squandered. We are rapidly draining nature’s capital, to put it in crass economic terms, which are the only terms most politicians and pundits and corporate elites seem to understand.

We are racing towards ecological bankruptcy at an ever-accelerating rate, and will see our children live as beggars in an ocean of toxic waste if we don’t change our course, and fast. Of course, most people – aside from the business and political elite – understand this by now. But awareness is not enough. It is high time for much more serious action.

Addressing the present and rapidly escalating environmental crisis which humanity undeniably faces will require more of us than a simple act of recycling or “buying green.” It will require, above all, a restoration and a renewal of democracy – a reclaiming of democracy from the ruling and highly pathological corporate elite.

You don’t have to be anti-business to be opposed to corporate rule, by the way: to be opposed to rule by corporate elites is simply to favour democracy; and frankly, to call it as it is: to oppose fascism. Corporatism, as Mussolini himself defined, is the merger of business with the state. Anyone who values freedom or democracy must therefore oppose corporatism: which is the unchecked power of business elites, and an empire of corporate dominance over all aspects of society, including the economy, politics, culture and the media. To be anti-corporatist is not to be anti-business: it is simply to understand that any form of unchecked power invariably leads to tyranny and the destruction of freedom; and therefore, to be opposed to such unchecked powers by any kind of elite.

You don’t have to be anti-business to oppose the take-over of democratic government by business elites – you simply have to be sane. You can be pro-business and anti-corporatist: and anyone who truly values democracy must, of logical and practical necessity, be anti-corporatist, regardless of their views on business. I am belabouring the point because the corporate-owned and dominated media repeatedly portray any kind of critique of unchecked corporate powers as leftist lunacy. Here is breaking news for anyone who still buys into this red-scare propaganda that lingers from the McCarthy era, like a can of rotting tuna stinking up the entire house and driving the people to nausea and revulsion: people on the right and the left and in the centre politically are, by an overwhelming majority, in favour of constitutional democracy, and opposed to any kind of dominance over the democratic political process by any kind of elite, including the now globally dominant business elite.

Where once we had to wrest power from the church and the aristocracy who were overstepping their bounds, in order to secure democracy, human rights and freedom, we now must wrest power from an unwieldy and overbearing, frankly tyrannical and self-serving business elite – and everybody who is in the least way sane and rational, and who hasn’t been living under a rock for the past fifty years, knows it.

Support for constitutional democracy and checks on corporate power, and the resultant or concomitant opposition to corporate rule, now cuts across the political spectrum. The people are no longer fooled by the red-scare tactics, nor by the broader corporate spin which seeks to mask the obvious: the emperor has no clothes, and everybody knows it – corporations have usurped democratic political powers, and are far over-stepping their proper bounds. Conservatives, liberals and progressives alike now understand this, and know this quite viscerally – and are rightly concerned and rapidly running out of patience in the face of an intolerable situation of corporate oligarchy that seeks limitless powers for itself, while undermining every human value and endangering our very survival on this earth.

The reality, which virtually everyone knows, is that the democratic governments of the world are now in hoc, in debt, in dependency and in servitude to a globally dominant international business elite; and virtually all of the major political parties are now the servile lackeys to the ruling corporate empire. Meanwhile, the people increasingly see through this whole pathetic charade, and are becoming quite fed up with it.

You don’t have to lean toward the left politically to be opposed to corporate rule: and at the level of the grassroots, people from the right and the left, conservatives, liberals and progressives, are now beyond wary of unchecked corporate powers – and wish to see democracy reclaimed by the people. What is needed now is a coalition of all those who favour democracy over corporate empire and corporate rule. This is beginning to emerge, and none too soon.

The suicidal kleptocracy of our presently reigning global order of neo-feudal corporatism must end – and now, before we extinguish ourselves from this small and beautiful, fragile, little blue planet. Democracy must be restored: and with power returned to the people, where it rightfully belongs, the commons can once again be protected and shared, wisely and judiciously, for the benefit of all.

If we wish for survival, for a future worth living, or for any future for our children and the children of the earth, then it is absolutely necessary that democracy be reclaimed by the people. This is the most urgent necessity of the time. If Thomas Paine, Thomas Jefferson, Abraham Lincoln, George Washington or Voltaire were alive today, they most assuredly would be urging it. We should heed their call, the call of their distant but ever-near voices of reason and common sense, and reclaim our power. Restore democracy now. Bring the power back to the people, and let us begin again.

Let it begin. The great turning is here. A new renaissance is being born. Let us work together to bring about a better future and a better world for all. The power is in our hands. We must simply own it, and acknowledge that it is ours.

We have run out of time for idle chit-chat, partisan zealotry and pleasant euphemisms, for polite evasiveness and meek avoidance of the realities that we face. Let us now renew and reclaim our democracy: and we shall in the process, and by this means only, renew and reclaim the commons, for the common good of all. It is this, or it is a dark age ahead – make no mistake. Make your choice wisely. Our future, and our children’s future, depend upon the choices we make now.

Be bold I say, and let us reclaim our future, and the future of humanity – if not for ourselves, then most certainly and assuredly, for the sake of the children of this earth. Their lives and their future cannot be written off, even if we are willing to write off our own. Act now.

“The other superpower” is beginning to stir: humanity is beginning to awake. And nothing, no reactionary force, can stop the rising tide of an awakened humanity. The future is in our hands. I urge all of us now to embrace that power, and to act together to reclaim our future and our world, by first reclaiming our democracy and our power.

Unite now, and let us restore democracy to its proper place – in the hands of the people. Our future and our children’s future hangs in the balance. Let us not hesitate now – we cannot afford to do so. Let us begin, or begin again with renewed energy and a deepened commitment: for we shall succeed, and humanity shall have a new day.

I would like to end this conversation, which I hope will be only the beginning of an ongoing conversation, and more importantly, the basis of strong, bold and dedicated collective action, with one of my favourite quotations, which seems ever-fitting – and especially so now:

“There is more day yet to dawn.
The sun is but a morning star.”
– Henry David Thoreau

And a second, which is equally powerful, equally apt, and equally appropriate to our time:

“It is within our power now to begin the world anew.”
– Thomas Paine

And one last quote: one that is oft-used, and yet profoundly underappreciated – and also extremely relevant to our time and to the task at hand:

“We must all hang together, or assuredly, we shall all hang separately….
United we stand, divided we fall.”
– Benjamin Franklin

As Arundhati Roy so eloquently and beautifully put it, another world is not only possible: she is already being born. Go now – reflect, read, ponder and discuss: then let us act together to bring in a new day and a new dawn for humanity and this earth. I urge you, act now. It is not too late, and what we do or fail to do now, will decide our future, and the future of humanity.

Above all, unite the people to reclaim their democracy. This is the most pivotal and most urgent of tasks at hand. Unite now, and let democracy reign!

The people will reclaim their power. It has already begun. The writing is on the wall. The corporate empire – the last of a series of empires that have risen and fallen through the past five thousand years of history, the clay feet that David spoke of – is teetering and about to fall. It is a wounded and dying, and still yet a dangerous beast, to be sure, but this latest of empires is now crumbling – even while it flails madly in its death throes to preserve its life and maintain its power, and flaunts its power with brazen disregard and sheer contempt for humanity, democracy and life on earth. Its legitimacy is destroyed, by its own acts of malfeasance and abuse of power; and it is only a matter of time before its final demise. The people should see and clearly recognize the opportunity, and reclaim their power and their democracy now.

Rise now and unite. It is time for the full flowering of democracy, and the healing of this fair earth and all our communities. Unite! And let us take back our democracy, for the benefit of all, and for the future of all life on earth, including our own children, and our children’s children. Act now. The time has come for a new dawn.

JTR,
September 28, 2011

(My apologies for the Surf-Canyon highlighted link on the word “clothes” – a shopping link, no doubt, and I certainly did not put that in there: another example – a mildly annoying one this time, unlike the subject of the survival of humanity – of corporate overshoot, and the over-stepping of proper bounds. Time to whack them on the nose with a rolled up newspaper, and push them back. Enough is enough – in so many regards.)

See Daly and Cobb, For the Common Good, as a prime example of economics that are not insane.

See also:

The Corporation – Joel Bakan (Canadian constitutional lawyer)

Power To the People (In Suits) – Paul Bigioni on Z Net

A Brief History of Progress – Ronald Wright

Collapse: How Societies Choose to Fail or Succeed – Jared Diamond

The Party’s Over: Oil, War and the Fate of Industrial Societies – Richard Heinberg

Power Down – Richard Heinberg

Mutual Aid – Peter Kropotkin

The Ecology of Freedom – Murray Bookchin

World As Lover, World As Self – Joanna Macy

Walden – Henry David Thoreau

The Poverty of Affluence – Paul Watchel

Small Is Beautiful- E. F. Schumacher

Year 501 – Noam Chomsky

Necessary Illusions – Noam Chomsky

Shock Doctrine – Naomi Klein

The End of America – Naomi Wolf

Escape From Freedom – Erich Fromm

The Power Elite – C. Wright Mills

Global Showdown – Maude Barlow

On Civil Disobedience – Henry David Thoreau

The Discourse on Voluntary Servitude – Etienne De La Boittee

The Great Turning – David C. Korten

Power to the People (In Suits) How a whole new kind of business lobby is a threat to democracy by Paul Bigioni

Fears of a corporate police state – David Sirota – Salon.com

Why Isn’t Wall Street in Jail? | Rolling Stone Politics

Three Things That Must Happen for Us to Rise Up and Defeat the Corporatocracy | Truthout

Big Ideas That Changed The World : DemocracyTony Benn

Talk – David Korten – The Great Turning – YouTube

Joanna Macy on The Great Turning – YouTube

The Corporation (complete, chapters 1 to 23) – YouTube

Life and Debt [HQ Full Movie] – YouTube

The Yes Men – Trailer – YouTube

The Secret Government: The Constitution In Crisis (1 of 9) – YouTube

The Shock Doctrine (2009) — Naomi Klein – YouTube – full length film

“The End of America” Full Length HQ Film – YouTube

Jared DiamondCollapse! part 1 – YouTube

Amazon.com: The Corporation: The Pathological Pursuit of Profit and Power (9780743247443): Joel Bakan: Books

The Corporation Film: About the Book

Orwell Rolls in his Grave (Full 3HR Documentary) – YouTube
Manufacturing Consent – Noam Chomsky and the Mass Media – 1/17 – YouTube
Confronting the Empire, by Noam Chomsky (Talk delivered at the III World Social Forum)
The Take – Trailer – YouTube
The Take (La Toma) English subtitles (1/9) – YouTube
The Project Gutenberg eBook – On the Duty of Civil Disobedience, by Henry David Thoreau

#Science Earth’s Annual Resources Used Up Today, Group Says bit.ly/n8flsq

Amazon.com: For The Common Good: Redirecting the Economy toward Community, the Environment, and a Sustainable Future (9780807047057): Herman E. Daly, John B. Cobb Jr.: Books

 

Why isn’t Wall St. in jail? And come to think of it, why isn’t Obama?

Posted in American politics, analysis, Barack Obama, capitalism, class, collapse, corporate fascism, corporate rule, corporations, corporatism, corporatocracy, crash, debt, economic collapse, economics, economy, elite, empire, must-read, political economy, politics, Uncategorized with tags , , , , , , , , on August 27, 2011 by jtoddring

If we want to understand better what is wrong with the economy and politics, this sheds more than a little light, and confirms the gut instincts of the great majority of people today. Yes, we live in a corporatocracy, and yes, the judges and attorney generals and SEC and the president are steadfastly if not gleefully supportive of their and our rulers. I don’t usually repost other people’s writings, but this article is too hard-hitting and important to pass up.

*

Why isn’t Wall St. in jail?

Excerpts from an excellent article by Matt Taibbi, from Rolling Stone:

Financial crooks brought down the world’s economy — but the feds are doing more to protect them than to prosecute them

As for President Obama, what is there to be said? Goldman Sachs was his number-one private campaign contributor. He put a Citigroup executive in charge of his economic transition team, and he just named an executive of JP Morgan Chase, the proud owner of $7.7 million in Chase stock, his new chief of staff. “The betrayal that this represents by Obama to everybody is just — we’re not ready to believe it,” says Budde, a classmate of the president from their Columbia days. “He’s really fucking us over like that? Really? That’s really a JP Morgan guy, really?”

Which is not to say that the Obama era has meant an end to law enforcement. On the contrary: In the past few years, the administration has allocated massive amounts of federal resources to catching wrongdoers — of a certain type. Last year, the government deported 393,000 people, at a cost of $5 billion. Since 2007, felony immigration prosecutions along the Mexican border have surged 77 percent; nonfelony prosecutions by 259 percent. In Ohio last month, a single mother was caught lying about where she lived to put her kids into a better school district; the judge in the case tried to sentence her to 10 days in jail for fraud, declaring that letting her go free would “demean the seriousness” of the offenses.

So there you have it. Illegal immigrants: 393,000. Lying moms: one. Bankers: zero. The math makes sense only because the politics are so obvious. You want to win elections, you bang on the jailable class. You build prisons and fill them with people for selling dime bags and stealing CD players. But for stealing a billion dollars? For fraud that puts a million people into foreclosure? Pass. It’s not a crime. Prison is too harsh. Get them to say they’re sorry, and move on. Oh, wait — let’s not even make them say they’re sorry. That’s too mean; let’s just give them a piece of paper with a government stamp on it, officially clearing them of the need to apologize, and make them pay a fine instead. But don’t make them pay it out of their own pockets, and don’t ask them to give back the money they stole. In fact, let them profit from their collective crimes, to the tune of a record $135 billion in pay and benefits last year. What’s next? Taxpayer-funded massages for every Wall Street executive guilty of fraud?

The mental stumbling block, for most Americans, is that financial crimes don’t feel real; you don’t see the culprits waving guns in liquor stores or dragging coeds into bushes. But these frauds are worse than common robberies. They’re crimes of intellectual choice, made by people who are already rich and who have every conceivable social advantage, acting on a simple, cynical calculation: Let’s steal whatever we can, then dare the victims to find the juice to reclaim their money through a captive bureaucracy. They’re attacking the very definition of property — which, after all, depends in part on a legal system that defends everyone’s claims of ownership equally. When that definition becomes tenuous or conditional — when the state simply gives up on the notion of justice — this whole American Dream thing recedes even further from reality.

Why Isn’t Wall Street in Jail? | Rolling Stone Politics

Obama Goes All Out For Dirty Banker Deal