Best of the Week
Most Popular
1. Gold Final Warning: Here Are the Stunning Implications of Plunging Gold Price - P_Radomski_CFA
2.Fed Balance Sheet QE4EVER - Stock Market Trend Forecast Analysis - Nadeem_Walayat
3.UK House Prices, Immigration, and Population Growth Mega Trend Forecast - Part1 - Nadeem_Walayat
4.Gold and Silver Precious Metals Pot Pourri - Rambus_Chartology
5.The Exponential Stocks Bull Market - Nadeem_Walayat
6.Yield Curve Inversion and the Stock Market 2019 - Nadeem_Walayat
7.America's 30 Blocks of Holes - James_Quinn
8.US Presidential Cycle and Stock Market Trend 2019 - Nadeem_Walayat
9.Dear Stocks Bull Market: Happy 10 Year Anniversary! - Troy_Bombardia
10.Britain's Demographic Time Bomb Has Gone Off! - Nadeem_Walayat
Last 7 days
BrExit Party EarthQuake Could Win it 150 MP's at Next UK General Election! - 18th May 19
Dow Stock Market Trend Forecast 2019 May Update - 18th May 19
US Economy to Die a Traditional Death… Inflation Is Going to Move Higher - 18th May 19
Trump’s Trade War Is Good for These 3 Dividend Stocks - 18th May 19
GDX Gold Mining Stocks Fundamentals Update - 17th May 19
Stock Markets Rally Hard – Is The Volatility Move Over? - 17th May 19
The Use of Technical Analysis for Forex Traders - 17th May 19
Brexit Party Set to Storm EU Parliament Elections - Seats Forecast - 17th May 19
Is the Trade War a Catalyst for Gold? - 17th May 19
This Is a Recession Indicator No One Is Talking About—and It’s Flashing Red - 17th May 19
War! Good or Bad for Stocks? - 17th May 19
How Many Seats Will Brexit Party Win - EU Parliament Elections Forecast 2019 - 16th May 19
It’s Not Technology but the Fed That Is Taking Away Jobs - 16th May 19
Learn to Protect your Forex Trading Capital - 16th May 19
Gold Ratio Charts Offer The Keys to the Bull Market - 16th May 19
Is Someone Secretly Smashing the Stock Market at Night? - 16th May 19
Crude Oil Price Fails At Critical Fibonacci Level - 15th May 19
Strong Stock Market Rally Expected - 15th May 19
US China Trade Impasse Threatens US Lithium, Rare Earth Imports - 15th May 19
Gold Mind Reader's Guide to the Global Markets Galaxy: 'Surreal' - 15th May 19
Trade Wars and Other Black Swan Threats to Your Investments - 15th May 19
Our Long-Anticipated Gold Momentum Rally Begins - 15th May 19
Defense Spending Is Recession Proof - Defense Dividend Stocks - 15th May 19
US China Trade Issues Will Drive Market Trends – PART II - 14th May 19
The Exter Inverted Pyramid of Global Liquidity Credit risk, Liquidity and Gold - 14th May 19
Can You Afford To Ignore These Two Flawless Gold Slide Indicators? - 14th May 19
As cryptocurrency wallets become more popular, will cryptocurrencies replace traditional payments? - 14th May 19
How US Debt Will Reach $40 Trillion by 2025 - 14th May 19
Dangers Beyond a Trade War with China - 14th May 19
eBook - Greatest Tool for Trading? - 14th May 19
Classic Pitfalls for Inexperienced Traders - 14th May 19
Stock Market S&P 500 Negative Expectations Again - 13th May 19
Why Rising Living Standard in China Offers Global Hope - 13th May 19
Stock Market Anticipated Correction Starts On Cue! - 13th May 19
How Chinese Trade Issues Will Drive Stock Market Trends - 13th May 19
Amazon SCAM Deliveries for Fake Verified Purchaser Reviews "Brushing" - 13th May 19
Stock Market US China Trade War Panic - Video - 13th May 19
US Stock Market Leading Macro Economic Indicators Update - 12th May 19
SAMSUNG - BC94.L - Investing in AI Machine Intelligence Stocks - 11th May 19
US Increases Trade Tariffs Against China – Stock Markets, Gold, and Silver - 11th May 19
Who Has More To Lose In A No Deal Brexit? - 11th May 19
Gold at $1,344 Will Start Real Fireworks on the Upside - 11th May 19
Make America’s Economy Great Again - 10th May 19
Big US Stocks’ 2019 Fundamentals - 10th May 19
Stock Market US China Trade War Panic! Trend Forecast May 2019 Update - 10th May 19
Stock Market Shake-Out Continues – Where Is The Bottom? - 10th May 19

Market Oracle FREE Newsletter

U.S. House Prices Analysis and Trend Forecast 2019 to 2021

Bankers On Notice: The Cake Eaters Are Stirring

Politics / Credit Crisis 2009 Feb 09, 2009 - 03:39 AM GMT

By: David_Haas

Politics

Best Financial Markets Analysis ArticleIt's interesting to watch what happens as the spores and tentacles of “banker rot” penetrate ever-deeper into the worm-holes and capillaries of the socioeconomic strata.

Anachronisms from a bygone-era, the “let them eat cake” attitudes that have persistently predominated the media-storm are increasingly muffled by a gathering mob and their collective call for the punishment of the perpetrators and their accomplices at all levels and in all capacities, public and private.


Thomas Jefferson
Link To Thomas Jefferson's Famous Banker Quotes

Truth be told, most reasonable people would agree that there could be no crime higher than the reckless endangerment and, potentially, the utter ruination of the intricately interwoven economic systems our global societies have evolved over the centuries - and all societies rest firmly upon. The fact that what we all thought of as “the bedrock” can even be shifting is deeply disturbing for most of us, even for the short-sellers of shares and holders of gold who may stand to profit from uncertainty and turmoil.

Please take a few minutes to read the following from a London-based global paper and draw your own conclusions:

Vince Cable: “Bring Back The Guillotine For Bankers”

How far will this go? How vicious could it ultimately grow to be? Only time will tell. One thing I do know is we're witnessing - over and over again - those who premeditated, then engineered, then deployed the digital “weapons of financial mass destruction” and the voracious viral capital-eating constructs leading to “our” current economic crisis are first demanding, then paying themselves big, fat, juicy bonuses with the very public “bailout” funds they've commandeered from the all-too-eager-to-accommodate government “overseers” and enablers. And still we pay.

Each week the financiers and their mouthpieces prove once more that last week's “enough” is never enough. Nor will it ever be enough - at least until all the super-magnetic-black-holes are filled with enough debt-laden paper “bills” to reach nearly to the Sun and back…twice. (Philosophical Question #1: Who are these massive debts really owed to? Philosophical Question #2: Can't the debts simply be nullified?) Thank God they (governments) don't actually print all this paper crap or the Earth's forests would disappear overnight. But I digress…

What the governments and their masters are beginning to see is that people are increasingly of a mind that taxpayers' money is no longer theirs to give - to failed bankers, failed businesses, failed institutions, failed governments, nor to anyone else. The peoples' patience has been surprisingly l-o-n-g but the outer limits may have recently been crossed.

The far-reaching impact of the gross financial malfeasance is becoming very personal to many individuals, particularly to those who have already fallen victim to the violent monetary contraction and have lost their jobs and found their families in jeopardy. Who would expect these people to go down with nary a whimper? Especially when they number in the millions and their ranks are rapidly swelling across the globe? Try as they might, even the network “programming” can't hold back this rising tide.

Signs of the rapidly-changing psychological landscape are appearing everywhere for all to see but, for now, they're most obvious on the streets of Europe. Could it be that the Europeans are the “leading indicator” of a soon-to-be-global pandemic of protest? Smoke on the distant horizon? It appears that we're quickly learning that globalized economies have globalized recessions and depressions. Did the chieftains think of this when formulating their grand-designs and trade compacts or was it an oversight? Whatever it is, it appears there's no stopping this thing now until it plays itself out - on its own terms, not ours. The invisible hand is once again at work, correcting the hubris and arrogance of man.

As first the comprehension - then finally the full realization - of the unfathomable mass of inter-generational debt that's being permanently vulcanized onto the backs of the “little people” begins to sink in - and especially if economic conditions continue to deteriorate - the possibility of social unrest clicks ever-upward and the internal pressure builds. It seems everyone knows this thought is in the back of everyone else's mind and this “knowing” adds to our collective edginess, not to mention our reluctance to spend or borrow. Legislation cannot change this. Only a new-found sense of social trust and goodwill can.

On the surface, articles like the one in the Daily Mail (linked above) may seem to be written with a perverse tongue-in-cheek humor, but the English and the French see history through different eyes than Americans do. Could another era similar to the French Revolution be fast-approaching there? Larger question: In a global economy, would such a revolution itself be global??

For those who aren't familiar or don't remember, you can brush up on a little European history here:

History Lesson: The French Revolution

I, personally, hope that we see a quick and convincing return to both sanity and justice, in equal measures - before it's too late and critical systems begin to fail. In the healthy, balanced mind, PERSONAL RESPONSIBILITY RELATES DIRECTLY TO AN UNDER-GIRDING SENSE OF RESPONSIBILITY TO OUR FELLOW HUMAN BEINGS, TO SOCIETY AT-LARGE, AND TO THE EARTH AND ALL ITS NATURAL SYSTEMS. Anything less forms a defective, weak society. All of these elements are crucial to advancing our global culture in a peaceful manner and in a positive direction, and all are sorely lacking in the spectrum of current events.

To state the obvious, too many leaders seem to have lost their “moral compass” - despite being charged with keeping the public trust - and their charge, “the commons”, are threadbare and in tatters. For decades, we've paid monstrous taxes for building and maintaining our streets and bridges, our sewers and water-supply systems, our information and communications infrastructure, our energy technologies, our industries, our medical delivery system, our nation's finances and safety-net, our natural heritage and our natural resources, yet all have been exploited and are in a neglected, if not downright hazardous state of disrepair.

We, as taxpayers, have diligently paid for the upkeep of our nation, yet the upkeep hasn't been performed. Where's the money we paid? Why hasn't the important work been done? Is it time for some answers yet? Perhaps rhetorical platitudes are no longer enough to satisfy…this time. Perhaps it takes an economic shake-down to give us the strength we need to demand the answers to these critically-important questions.

We have all been victimized by the era of the sociopath. This social illness must end if we hope to recover and, ultimately, prosper again. - David

The “new era of personal responsibility” that was so vigorously touted by Reagan - Bush 1 - Clinton - Bush 2 only impacted those who fell below the upper-income strata - but it fell most heavily onto the backs of the middle-earners and growing ever-heavier the further down the income scale it traveled. Having to bear-up to the real-life demands of “personal responsibility” would be a lot less palatable for those at the top who've only read about it, made speeches about it, and foisted it down upon others, never having known it on an intimate personal basis. Is their day about to come? We should be so lucky.

With articles like the one above hitting the international headlines at an increasing frequency, it's time we all begin to pay very close attention to how our own governmental and justice systems are handling things. It is time that we get involved. It is imperative that we each begin taking an active role in holding ALL of our elected representatives personally responsible for the decisions they are making in our names, especially since they have each willingly volunteered to carry such a heavy responsibility. In other words, the decades-long era of the sociopath must end now and we must communicate clearly that it is no longer acceptable and will never again be tolerated. Greed is no longer good. Politicians can no longer grease the rails for these kinds of criminals.

As Citizens, it is our solemn individual duty - to our beloved Constitution which defines and binds our government, as well as to ourselves - to secure and protect our collective future. No one will do this for us. It is something we must do for ourselves, a little bit each day. When our system breaks, we must fix it. This is not a job that can be “hired out”. Right now it is in serious disrepair. There is plenty of work to do and we must do it.

Under no circumstances do we want to see things devolve in our country to a “lynch-mob” mentality for, in that environment, everyone loses. Civilizations CAN go backwards. Civilizations HAVE been “lost”. The lights CAN go out and stay out. There are NO guarantees. Frighteningly, I sense that somewhere in Europe a bottle of a dangerous potion has been opened and a strange and spicy scent is loose in the wind, acting upon the minds of the people there. Pray, let us keep our heads but let there be justice…for all. With justice we can rebuild and recover much of what's been lost - which already is considerable. Let's be certain we will lose no more.

For more interesting articles and commentary please visit: http://www.haasfinancial.com

    By David Haas
    Consultant

    http://www.haasfinancial.com

    In my consulting practice, I work with individuals, business owners, and professionals.  I assist business owners and professionals in several critical areas ranging from business start-up, marketing, operational challenges, employee retention, and strategic planning to personal asset protection, financial, and retirement income planning.  Often, these areas relate and need to be integrated to work most effectively.  I also assist business owners in developing exit-strategies that enable them to maximize the value of their business interests and preserve their lifestyle in retirement.  For individuals, I primarily focus on tax reduction, financial, and retirement income planning.

    © 2009 David Haas, Consultant

    David Haas Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules