Best of the Week
Most Popular
1. Market Decline Will Lead To Pension Collapse, USD Devaluation, And NWO - Raymond_Matison
2.Uber’s Nightmare Has Just Started - Stephen_McBride
3.Stock Market Crash Black Swan Event Set Up Sept 12th? - Brad_Gudgeon
4.GDow Stock Market Trend Forecast Update - Nadeem_Walayat
5.Gold Significant Correction Has Started - Clive_Maund
6.British Pound GBP vs Brexit Chaos Timeline - Nadeem_Walayat
7.Cameco Crash, Uranium Sector Won’t Catch a break - Richard_Mills
8.Recession 2020 Forecast : The New Risks & New Profits Of A Grand Experiment - Dan_Amerman
9.Gold When Global Insanity Prevails - Michael Ballanger
10.UK General Election Forecast 2019 - Betting Market Odds - Nadeem_Walayat
Last 7 days
Venezuela’s Hyperinflation Drags On For A Near Record—36 Months - 18th Nov 19
Intellectual Property as the New Guild System - 18th Nov 19
Gold Mining Stocks Q3’ 2019 Fundamentals - 18th Nov 19
The Best Way To Play The Coming Gold Boom - 18th Nov 19
What ECB’s Tiering Means for Gold - 17th Nov 19
DOJ Asked to Examine New Systemic Risk in Gold & Silver Markets - 17th Nov 19
Dow Jones Stock Market Cycle Update and are we there yet? - 17th Nov 19
When the Crude Oil Price Collapses Below $40 What Happens? PART III - 17th Nov 19
If History Repeats, Gold is Headed to $8,000 - 17th Nov 19
All You Need To Know About Cryptocurrency - 17th Nov 19
What happens To The Global Economy If Oil Collapses Below $40 – Part II - 15th Nov 19
America’s Exceptionalism’s Non-intervention Slide to Conquest, Empire - and Socialism - 15th Nov 19
Five Gold Charts to Contemplate as We Prepare for the New Year - 15th Nov 19
Best Gaming CPU Nov 2019 - Budget, Mid and High End PC System Processors - 15th Nov 19
Lend Money Without A Credit Check — Is That Possible? - 15th Nov 19
Gold and Silver Capitulation Time - 14th Nov 19
The Case for a Silver Price Rally - 14th Nov 19
What Happens To The Global Economy If the Oil Price Collapses Below $40 - 14th Nov 19
7 days of Free FX + Crypto Forecasts -- Join in - 14th Nov 19
How to Use Price Cycles and Profit as a Swing Trader – SPX, Bonds, Gold, Nat Gas - 13th Nov 19
Morrisons Throwing Thousands of Bonus More Points at Big Spend Shoppers - JACKPOT! - 13th Nov 19
What to Do NOW in Case of a Future Banking System Breakdown - 13th Nov 19
Why China is likely to remain the ‘world’s factory’ for some time to come - 13th Nov 19
Gold Price Breaks Down, Waving Good-bye to the 2019 Rally - 12th Nov 19
Fed Can't See the Bubbles Through the Lather - 12th Nov 19
Double 11 Record Sales Signal Strength of Chinese Consumption - 12th Nov 19
Welcome to the Zombie-land Of Oil, Gold and Stocks Investing – Part II - 12th Nov 19
Gold Retest Coming - 12th Nov 19
New Evidence Futures Markets Are Built for Manipulation - 12th Nov 19
Next 5 Year Future Proof Gaming PC Build Spec November 2019 - Ryzen 9 3900x, RTX 2080Ti... - 12th Nov 19
Gold and Silver - The Two Horsemen - 11th Nov 19
Towards a Diverging BRIC Future - 11th Nov 19
Welcome to the Zombie-land Of Stock Market Investing - 11th Nov 19
Illiquidity & Gold And Silver In The End Game - 11th Nov 19
Key Things You Need to Know When Starting a Business - 11th Nov 19
Stock Market Cycles Peaking - 11th Nov 19
Avoid Emotional Investing in Cryptocurrency - 11th Nov 19
Australian Lithium Mines NOT Viable at Current Prices - 10th Nov 19
The 10 Highest Paying Jobs In Oil & Gas - 10th Nov 19
World's Major Gold Miners Target Copper Porphyries - 10th Nov 19
AMAZON NOVEMBER 2019 BARGAIN PRICES - WD My Book 8TB External Drive for £126 - 10th Nov 19
Gold & Silver to Head Dramatically Higher, Mirroring Palladium - 9th Nov 19
How Do YOU Know the Direction of a Market's Larger Trend? - 9th Nov 19
BEST Amazon SMART Scale To Aid Weight Loss for Christmas 2019 - 9th Nov 19
Why Every Investor Should Invest in Water - 8th Nov 19
Wait… Was That a Bullish Silver Reversal? - 8th Nov 19
Gold, Silver and Copper The 3 Metallic Amigos and the Macro Message - 8th Nov 19
Is China locking up Indonesian Nickel? - 8th Nov 19

Market Oracle FREE Newsletter

$4 Billion Golden Oppoerunity

Bankers On Notice: The Cake Eaters Are Stirring

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

By: David_Haas


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:

    By David Haas

    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 - 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