Posts Tagged ‘economy’
This video explores the historical critique of Usury, its prohibition and some alternatives.
Usury – the lending of money at interest has been condemned throughout history by noble people of ALL faiths (Hindus, Buddhists, Jews, Muslims, Catholics, Greeks). It makes the poor poorer and gives rise to the most avaricious of lenders. We are actually being told our wars are for the purpose of enriching these people – and this is presented to us as an acceptable reason (not in the video).
Instead of money being a medium of exchange, interest rates elevate money to being an end in itself.
It is strange that so many Jewish people are in the lending business, when lending at interest rates is treated with scorn in the Old Testament, although permissible in the event of lending to a non Jew for business purposes.
But nowadays we are all indebted, Jew and non Jew to interest rates for our housing and living expenses. “In the Old Testament, usury is considered an “abominable thing,” listed next to rape, murder, robbery and adultery. (Ezekiel 18:19-13).
The Ancient Greeks regulated interest, and then deregulated it. Upon deregulation, there was a catastrophic amount of unregulated debt which lead to the selling of Athenians into slavery. Plato (Laws, v. 742) and Aristotle (Politics, I, x, xi) both agreed that usury was immoral and unnatural…”
There has been quite a few bloggers talking about Obama now appearing the same as Bush. And despairing at how the politicians are corrupt.
Perhaps the British MPs now embroiled in an expenses controversy actually considered withdrawing from these wars, or to take on the Banksters. Only to discover a campaign to discredit them all.
In the US any congressmen listening to Ron Paul must be saying to themselves: it is all true, I wish I could say that.
Anyway the answer is that we are controlled by people who hate Islam, that is more important than any nation.
Video uploaded to Youtube dated 15 May
HatTip for videolink: europebusines.blogspot.com
All the newspaper headlines here in the UK (which has obviously decapitated the parliament):
From another blogger – Travellrev
… In the ‘great’ depression 7 million people died of hunger in the US alone. The ‘Great’ depression led to WWII and the abject world wide poeverty that some of the oldies still remember and which prevents them from spen[d]ing even the smallest amount of money on themselves. I’m sure you all know of such a person. They had every reason.
At he time of the great depression 90% of the US population grew their own food and had their own small family farms. Now perhaps 15% of the US population has access to homegrown food and the rest of the population works in the service industry or the financial industry and only some 12% work in factories actually producing something that can be sold.
More than 600.000 people a month for the last four months have lost their jobs in the US alone. The expectation is that more than 8 million houses will be foreclosed on in the next two years with millions already having been foreclosed on.
So let me set you straight on this littel issue. The IMF says it will be the deepeset depression since the ‘Great’ depression? No, It will be a depression that will dwarf the ‘great’ depression.
When and if the meltdown occurs, what will happen to mortgage holders etc. They will not be able to pay. That is already happening, and there is a defacto amnesty occurring.
The Spanish government is assisting those that cannot pay. And the banks are not pursuing repossessions as much as they could.
Canceling all debt seems like a simple solution to all the financial troubles, and it is anyway what is going to happen, no one is going to be able to pay their debts.
This is a repost from Nov. 12 2008 (Already dated because now Russia and Europe are also in trouble):
Debt amnesty to cure credit crunch.
If all debts were canceled we could at least pick up where we were before the crash.
All debt personal and corporate and sovereign.
The wealthy who live in a mansion, would still be wealthier than those without a mansion. But all Mortgages would be canceled. Someone who spent 30 years paying off their mortgage would see their neighbour who has only lived there and made payments for a year get to own their place as well.
Some countries would benefit more than others. Pakistan, Iceland and the Ukraine would be happy to forget their debts. And of course the USA.
At first you might think China, Russia and Europe could be upset to lose the value of the bonds they are holding. But: China could say, ‘we have industrialised, we still have the factories, and we are still better off than we were’. Russia also has seen its fortunes rise over the last decade.
And anyway, how much chance do Russia and China have of ever getting their dues for the bonds they hold? And the dollar has to devalue sooner or later, and probably such a big devaluation that the foreign dollar holdings would be greatly diminished.
Europe anyway seems to be a big owner in the Fed, and has through its intimate ties with the US, shared in the easy life the US created through deregulation, the Subprime and massive borrowing.
Even personal debts to the credit cards, and to one another are cancelled at a specific date, say with ten weeks notice, so everyone has time to come to some understanding and settlement.
The international money system has a jewish feel to it, and it is a credit that the whole world has adopted this globalised system with Stock Markets and Credit cards. Until an alternative system can be found, we are stuck with it. Rather than play it all by the rules, so that all the books can be balanced, which seems to ensure a 1920s type crash. Why don’t we just start all over again. The gap beteen rich and poor will not be as great as it currently is. And scrapping all debt makes as much sense as the Fed pumping trillions into the world economy, and to seemingly little effect.
No one in the civilised world wants a recession, this is a way to avoid it.
In a strange way this renders the banks innocuous as they only survive from debt. Yet they are anyway folding and insolvent. They can start to lend again.
This is only a solution for buying time, because debt, fiat money and interest rates are wrong. Making money from money is wrong.
The solution is to stop trying to fix financial Globalisation.
The system itself is wrong.
Interest rates and Fiat money
Ron Paul gives the answers – and Rolling Stone captures the mood.
And here is another mood capturer by way of TV real time Bill Maher March 20 2009
A short RollingStone excerpt:
The Big Takeover
The global economic crisis isn’t about money – it’s about power. How Wall Street insiders are using the bailout to stage a revolution
Posted Mar 19, 2009 12:49 PM
It’s over — we’re officially, royally fucked. no empire can survive being rendered a permanent laughingstock, which is what happened as of a few weeks ago, when the buffoons who have been running things in this country finally went one step too far. It happened when Treasury Secretary Timothy Geithner was forced to admit that he was once again going to have to stuff billions of taxpayer dollars into a dying insurance giant called AIG, itself a profound symbol of our national decline — a corporation that got rich insuring the concrete and steel of American industry in the country’s heyday, only to destroy itself chasing phantom fortunes at the Wall Street card tables, like a dissolute nobleman gambling away the family estate in the waning days of the British Empire.
The latest bailout came as AIG admitted to having just posted the largest quarterly loss in American corporate history — some $61.7 billion. In the final three months of last year, the company lost more than $27 million every hour. That’s $465,000 a minute, a yearly income for a median American household every six seconds, roughly $7,750 a second. And all this happened at the end of eight straight years that America devoted to frantically chasing the shadow of a terrorist threat to no avail, eight years spent stopping every citizen at every airport to search every purse, bag, crotch and briefcase for juice boxes and explosive tubes of toothpaste. Yet in the end, our government had no mechanism for searching the balance sheets of companies that held life-or-death power over our society and was unable to spot holes in the national economy the size of Libya (whose entire GDP last year was smaller than AIG’s 2008 losses).
The most galling thing about this financial crisis is that so many Wall Street types think they actually deserve not only their huge bonuses and lavish lifestyles but the awesome political power their own mistakes have left them in possession of. When challenged, they talk about how hard they work, the 90-hour weeks, the stress, the failed marriages, the hemorrhoids and gallstones they all get before they hit 40.
“But wait a minute,” you say to them. “No one ever asked you to stay up all night eight days a week trying to get filthy rich shorting what’s left of the American auto industry or selling $600 billion in toxic, irredeemable mortgages to ex-strippers on work release and Taco Bell clerks. Actually, come to think of it, why are we even giving taxpayer money to you people? Why are we not throwing your ass in jail instead?”
But before you even finish saying that, they’re rolling their eyes, because You Don’t Get It. These people were never about anything except turning money into money, in order to get more money; valueswise they’re on par with crack addicts, or obsessive sexual deviants who burgle homes to steal panties. Yet these are the people in whose hands our entire political future now rests.
Good luck with that, America. And enjoy tax season.
[From Issue 1075 — April 2, 2009] Rolling Stone
Excerpts to bait you to read it all:
Everything we know about economic behavior must be reviewed and rethought … right back to the root… Back before nationalism, socialism, capitalism and blind patriotism.
Humans are now at odds with economics, and classically trained economists are as relevant as the steam engine. …
On what rational scale can a classic economist argue that the consumption of food by wealthy, non-failed nation states is anything but destructive and self-defeating, when that food is poison at the consumption end of a system of free choice and unfettered markets? Far from acting in their best interests, the Western world’s diet is killing its host, trading sustainable health, happiness and manageable costs for spectacular profits for a handful of smiling clowns, faux kings, and creepy old Kentucky Colonels.
In the end, maximum utility turns out to be a Frankenstein monster.
There will be a fight to be sure. In America, there is no question but to do what it takes to get everything back to the past as fast as possible. Americans want to reset the machine and keep on playing. …
Once this economic storm has passed, the wreckage left behind will have been busted back to humility, and man will take his place amongst – and not above – the world around him. Man has built a civilization so complex and over-reaching that it no longer obeys the rules he wrote for it so very long ago.
The scaremongering works in many ways. It blows a hole in those that banked on a planned future (they should be more opportunistic). The fear factor in society plays into the hands of any elites perpetrating conspiracies. And lastly: it all seems true!
Guess it sells papers and gets viewers online too.
What are we all gonna do?
The Governments are Kings without clothes…
And we are unable to group together in a trusting manner – so far –
By James Chapman
Last updated at 10:30 AM on 12th March 2009
Financial analysts warn that house prices could fall a further 55% – leaving 6million Britons in negative equity
House prices could slump by another 55 per cent, a respected City forecaster warns.
It also predicts a deep recession lasting throughout next year and a ‘very real probability’ that Britain will go bankrupt.
The report leaked yesterday from financial analysts Numis Securities says that the collapse in house prices is not ‘anywhere near over’.
They have already fallen 21 per cent from their peak, but the report says they will slump further by up to 55 per cent if the over-correction in prices is as bad as in the early 1990s.
That would leave many millions of Britons in negative equity – when their house is worth less than their mortgage.
Yesterday also saw Alistair Darling warn that there could be ‘no instant remedy or overnight solution’ to the economic crisis –more–