Skip to main content

Home/ Socialism and the End of the American Dream/ Group items tagged SNYDER

Rss Feed Group items tagged

Filter: All | Bookmarks | Topics Simple Middle
Gary Edwards

ESR | February 20, 2012 | The Federal Reserve rip-off - 0 views

www.enterstageright.com/...0212federserveripoff.htm

Federal-Reserve-Bankster-Cartel Banksters

shared by Gary Edwards on 19 Feb 12 - No Cached
  • Gary Edwards on 19 Feb 12
     
    Ron Paul racks up another near win, as conservative writer Alan Caruba smells the coffee and starts paying attention to the criminal enterprise known as the Federal Reserve Bankster Cartel.  It's about time.  But sadly there are too few conservatives paying attention to the money.  Sadly, conservatives choose to wallow in 1980 political issues where conservative social values and national security - military buildup were the concerns of the day. The truth is that it's always the money.  Follow the money!!  And all things will become clear.  Including how to get America back on track. excerpt: Anyone taking notice of Obama's latest budget has to conclude that his mission is to crash the nation's economy and turn America into a Socialist worker's paradise. The only problem is that Socialism has been a dismal failure everywhere it has been tried. One only has to look at the collapse of the Soviet Union for confirmation of that, the Chinese abandonment of Communist economic theory, and Obama's odd notion that a nation can spend itself out of ever-increasing debt. I am not a fan of Paul's isolationism, but he is absolutely right about getting rid of the Federal Reserve. Established in 1913, the same year income taxes were instituted, the Reserve is not part of the federal government. It is, in fact, privately owned by a consortium of banks and that might include foreign banks as well. In a remarkable essay, "10 Things That Every American Should Know About The Federal Reserve" by Michael T. Snyder, it is clear that the Constitution intended to have the U.S. Treasury to be soley responsible to "coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures." Synder points out that the Federal Reserve System (the Fed) is a privately owned banking cartel and one granted the right to create money out of thin air. It is, says Synder "a perpetual debt machine because "whenever more money is created, more debt is creat
Joseph Skues

We're Not Broke: Congress -Here's $400 Billion In New Annual Revenue « SpeakEasy - 0 views

blogs.alternet.org/...400-billion

not broke we're congress TAXES SNYDER

shared by Joseph Skues on 08 Apr 11 - Cached
  • Congress has blown holes in our tax code, losing hundreds of billions in revenue. Worse, lawmakers have averted their eyes as corporate lobbyists drill new tax loopholes and extract new corporate welfare subsidies.
  • How else can we explain how a profitable company like General Electric pays no taxes?
  • Other huge global companies such as Verizon, Boeing, ExxonMobil, and Bank of America also pay no taxes.
  • ...11 more annotations...
  • They pretend to earn their profits offshore and then report their paper losses here in the United States–so they don’t have to pay the IRS a dime.
  • f U.S. millionaires and billionaires paid taxes based on 1961 tax rules, we would have raised an additional $231 billion in federal revenue this year.
  • By reversing years of tax giveaways to America’s rich and the corporations that enrich them, Congress could raise trillions in revenue. We could fund the public structures that safeguard our families and our future.
  • a modest financial transaction tax on the transfers of stock, currency, and speculative investments that do little to strengthen the real economy
  • reduce corporate tax dodging by closing overseas tax havens and requiring companies to pay U.S. taxes on the profits they actually earn in this country. This could generate as much as $100 billion a year.
  • new top tax rates on households with annual incomes over $1 million, which could generate another $100 billion a year.
  • a progressive estate tax on fortunes over $5 million, with higher rates on billionaire estates. That would generate $45 billion a year.
  • aking all four of these straightforward steps could raise a total of approximately $400 billion per year.
  • But that doesn’t mean we’re broke. It just means we need to get our priorities straight.
  • Originally Published in OtherWords.
  • Senior scholar at the Institute for Policy Studies where I direct the Program on Inequality and the Common Good (www.ips-dc.org/inequality). Co-founder of Wealth for the Common Good (www.wealthforcommongood.org). Co-author with Bill Gates Sr. of Wealth and Our Commonwealth: Why America Should Tax Accumulated Fortunes. Co-author with Mary Wright of The Moral Measure of the Economy.
  • Joseph Skues on 08 Apr 11
     
    Here is the proof we are well off and not broke.
Paul Merrell

Bail-In and the Financial Stability Board: The Global Bankers' Coup | nsnbc international - 0 views

nsnbc.me/...lity-board-global-bankers-coup

banksters G20 Financial-Stability-Board must-read

shared by Paul Merrell on 13 Dec 14 - No Cached
  • Ellen H. Brown (WoD) : On December 11, 2014, the US House passed a bill repealing the Dodd-Frank requirement that risky derivatives be pushed into big-bank subsidiaries, leaving our deposits and pensions exposed to massive derivatives losses. The bill was vigorously challenged by Senator Elizabeth Warren; but the tide turned when Jamie Dimon, CEO of JPMorganChase, stepped into the ring. Perhaps what prompted his intervention was the unanticipated $40 drop in the price of oil. As financial blogger Michael Snyder points out, that drop could trigger a derivatives payout that could bankrupt the biggest banks. And if the G20’s new “bail-in” rules are formalized, depositors and pensioners could be on the hook. The new bail-in rules were discussed in my last last article entitled “New G20 Rules: Cyprus-style Bail-ins to Hit Depositors AND Pensioners.” They are edicts of the Financial Stability Board (FSB), an unelected body of central bankers and finance ministers headquartered in the Bank for International Settlements in Basel, Switzerland. Where did the FSB get these sweeping powers, and is its mandate legally enforceable?
  • Those questions were addressed in an article I wrote in June 2009, two months after the FSB was formed, titled “Big Brother in Basel: BIS Financial Stability Board Undermines National Sovereignty.” It linked the strange boot shape of the BIS to a line from Orwell’s 1984: “a boot stamping on a human face—forever.” The concerns raised there seem to be materializing, so I’m republishing the bulk of that article here. We need to be paying attention, lest the bail-in juggernaut steamroll over us unchallenged. The Shadowy Financial Stability Board Alarm bells went off in April 2009, when the Bank for International Settlements (BIS) was linked to the new Financial Stability Board (FSB) signed onto by the G20 leaders in London. The FSB was an expansion of the older Financial Stability Forum (FSF) set up in 1999 to serve in a merely advisory capacity by the G7 (a group of finance ministers formed from the seven major industrialized nations). The chair of the FSF was the General Manager of the BIS. The new FSB was expanded to include all G20 members (19 nations plus the EU).
  • Formally called the “Group of Twenty Finance Ministers and Central Bank Governors,” the G20 was, like the G7, originally set up as a forum merely for cooperation and consultation on matters pertaining to the international financial system. What set off alarms was that the new Financial Stability Board had real teeth, imposing “obligations” and “commitments” on its members; and this feat was pulled off without legislative formalities, skirting the usual exacting requirements for treaties. It was all done in hasty response to an “emergency.” Problem-reaction-solution was the slippery slope of coups. Buried on page 83 of an 89-page Report on Financial Regulatory Reform issued by the US Obama administration was a recommendation that the FSB strengthen and institutionalize its mandate to promote global financial stability. It sounded like a worthy goal, but there was a disturbing lack of detail. What was the FSB’s mandate, what were its expanded powers, and who was in charge? An article in The London Guardian addressed those issues in question and answer format:
  • ...2 more annotations...
  • For three centuries, private international banking interests have brought governments in line by blocking them from issuing their own currencies and requiring them to borrow banker-issued “banknotes” instead. Political colonialism is now a thing of the past, but under the new FSB guidelines, nations could still be held in feudalistic subservience to foreign masters. Consider this scenario: the new FSB rules precipitate a massive global depression due to contraction of the money supply. XYZ country wakes up to the fact that all of this is unnecessary – that it could be creating its own money, freeing itself from the debt trap, rather than borrowing from bankers who create money on computer screens and charge interest for the privilege of borrowing it. But this realization comes too late: the boot descends and XYZ is crushed into line. National sovereignty has been abdicated to a private committee, with no say by the voters. Marilyn Barnewall, dubbed by Forbes Magazine the “dean of American private banking,” wrote in an April 2009 article titled “What Happened to American Sovereignty at G-20?”: It seems the world’s bankers have executed a bloodless coup and now represent all of the people in the world. . . . President Obama agreed at the G20 meeting in London to create an international board with authority to intervene in U.S. corporations by dictating executive compensation and approving or disapproving business management decisions.  Under the new Financial Stability Board, the United States has only one vote. In other words, the group will be largely controlled by European central bankers. My guess is, they will represent themselves, not you and not me and certainly not America.
  • Are these commitments legally binding? Adoption of the FSB was never voted on by the public, either individually or through their legislators. The G20 Summit has been called “a New Bretton Woods,” referring to agreements entered into in 1944 establishing new rules for international trade. But Bretton Woods was put in place by Congressional Executive Agreement, requiring a majority vote of the legislature; and it more properly should have been done by treaty, requiring a two-thirds vote of the Senate, since it was an international agreement binding on the nation. “Bail-in” is not the law yet, but the G20 governments will be called upon to adopt the FSB’s resolution measures when the proposal is finalized after taking comments in 2015. The authority of the G20 has been challenged, but mainly over whether important countries were left out of the mix. The omitted countries may prove to be the lucky ones, having avoided the FSB’s net.
Paul Merrell

The US Retail Industry is Collapsing: Here's Why You're in Trouble | - 0 views

www.theorganicprepper.ca/-why-youre-in-trouble-01132015

economic-collapse retail-industry store-closures

shared by Paul Merrell on 16 Jan 15 - No Cached
  • Shopping malls across America are going to look a whole lot emptier soon. An exodus of giant retailers is beginning with the announcement of hundreds of store closures and thousands of people newly unemployed. The first of January, I broke with my usual tradition and wrote not about positive resolutions, but about the impending rockslide of the US economy. And “rockslide” is an apt word: as one thing starts rolling down the mountain, it will pick up other things until a veritable avalanche of other businesses and people are affected and rolling pell-mell right alongside. Last year, we saw announcements of the expected closure of some retail giants. In February of 2013, Michael Snyder wrote on The Economic Collapse Blog that we would see the following: Best Buy Forecast store closings: 200 to 250 Sears Holding Corp. Forecast store closings: Kmart 175 to 225, Sears 100 to 125 J.C. Penney Forecast store closings: 300 to 350 Office Depot Forecast store closings: 125 to 150 Barnes & Noble Forecast store closings: 190 to 240, per company comments Gamestop Forecast store closings: 500 to 600 OfficeMax Forecast store closings: 150 to 175 RadioShack Forecast store closings: 450 to 550
  • Unfortunately, it didn’t stop there. This morning, a World News Daily report announced: Macy’s is closing 14 of its 790 stores across the country. JCPenney is closing 39 of its stores and laying off 2,250 workers. Sears has been around for 122 years, but it, too, is closing 235 under-performing stores.  C. Wonder, the preppy retailer, is going out of business, closing all 11 of its U.S. stores in the next few weeks. Wet Seal is closing 338 retail stores while dealing with bankruptcy proceedings. Nearly 3,700 full- and part-time workers will be unemployed. Aeropostale, suffering from declining sales, closed 75 stores during the holiday season, which runs from November through January. And in 2015, they expect to close an additional 50 to 75 stores. RadioShack, which is negotiating with lenders to gain approval to shutter 1,100 stores, said last month that it closed 175 locations in 2014. (source)
  • Even holiday sales, normally high, plummeted this Christmas.
  • ...1 more annotation...
  • You may not work in retail yourself, but never doubt that the mass closure of these businesses will directly affect you.. Maybe you are wondering how.  You aren’t much of a shopper. You aren’t a retail worker. Perhaps you believe you can compartmentalize this information, pack it away, and go on with your life as you always have. The thing is, it’s not just the patrons and employees of these stores who are affected. This is going to be catastrophic on a variety of levels.
1 - 4 of 4
Showing 20▼ items per page