Daily Bail Endorses Larry Flynt's Call For A National Strike
Flashback from the early DB days.
Like many others, we knew nothing about the real Larry Flynt before the film that made him famous. Once exposed however, we were intrigued by his innate intelligence, stubborn nature, and seemingly indomitable spirit. We were not surprised by his satirical demand for a porn-industry bailout late in '08, and we laughed at the 98% of journalists who missed the satire and reported that story as real. It was one of best anti-bailout stunts any of us have seen, and the professional writers mostly missed it.
Last Friday he delivered a sermon on Huffington Post calling for a general nationwide strike in protest of Washington and our one-party system replete with career politicians. It was a courageous, and long-overdue call, and one that we at The Daily Bail take seriously. Our nation has a rich history of general strikes, though most were pre-union, and yet it's a tradition that's been practically forgotten.
Similarly we have forgotten how, just 15 years ago, we were tantalizingly close to a victory against political capture with the Term-Limits movement. Originally, a component of the Contract With America, the term-limits and campaign finance reform movements were then part of the daily political discussion.
Now a mere decade later, they have been forgotten and have fallen completely out of the public debate. Flynt's siren call is a reminder of their importance. A one-day national protest strike would serve as a beacon to Congress that we have awakened and that we again understand the rules. Washington works for us and should fear our power. We have had enough.
We call on other media organizations to report Flynt's editorial, spread the word, and let citizens decide if a strike is appropriate for them. It's not just the right thing to do, it's a patriotic duty. Journalism has no purpose if it solely entertains. It must also inform and even occasionally incite. This is one of those times.
We have Flynt's piece below. No one should miss this one. You may not agree with his choices but his editorial makes for powerful reading.
The American government -- which we once called our government -- has been taken over by Wall Street, the mega-corporations and the super-rich. They are the ones who decide our fate. It is this group of powerful elites, the people President Franklin D. Roosevelt called "economic royalists," who choose our elected officials -- indeed, our very form of government. Both Democrats and Republicans dance to the tune of their corporate masters. In America, corporations do not control the government. In America, corporations are the government.
This was never more obvious than with the Wall Street bailout, whereby the very corporations that caused the collapse of our economy were rewarded with taxpayer dollars. So arrogant, so smug were they that, without a moment's hesitation, they took our money -- yours and mine -- to pay their executives multimillion-dollar bonuses, something they continue doing to this very day. They have no shame. They don't care what you and I think about them. Henry Kissinger refers to us as "useless eaters."
We all know that the first American Revolution officially began in 1776, with the Declaration of Independence. Less well known is that the single strongest motivating factor for revolution was the colonists' attempt to free themselves from the Bank of England. But how many of you know about the second revolution, referred to by historians as Shays' Rebellion? It took place in 1786-87, and once again the banks were the cause. This time they were putting the screws to America's farmers.
Daniel Shays was a farmer in western Massachusetts. Like many other farmers of the day, he was being driven into bankruptcy by the banks' predatory lending practices. (Sound familiar?) Rallying other farmers to his side, Shays led his rebels in an attack on the courts and the local armory. The rebellion itself failed, but a message had been sent: The bankers (and the politicians who supported them) ultimately backed off. As Thomas Jefferson famously quipped in regard to the insurrection: "A little rebellion now and then is a good thing. The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants."
Perhaps it's time to consider that option once again.
I'm calling for a national strike, one designed to close the country down for a day. The intent? Real campaign-finance reform and strong restrictions on lobbying. Because nothing will change until we take corporate money out of politics. Nothing will improve until our politicians are once again answerable to their constituents, not the rich and powerful.
Let's set a date. No one goes to work. No one buys anything. And if that isn't effective -- if the politicians ignore us -- we do it again. And again. And again.
The real war is not between the left and the right. It is between the average American and the ruling class. If we come together on this single issue, everything else will resolve itself. It's time we took back our government from those who would make us their slaves.
Sep 24, 2011 at 10:49 PM
Reader Comments (37)
http://www.gbphoto.com/flynt/flynt2.php
Let's do NOT fragment ourselves .... National Strike Day has been set. It is Wednesday, November 4, 2009
Let's rock. Let's roll.
Let's do NOT fragment ourselves .... National Strike Day has been set. It is Wednesday, November 4, 2009
Let's rock. Let's roll.
We will look into this date. We are endeavoring to contact Flynt's office this afternoon to get further details from Larry.
Abuse of the Middle Class
http://hubpages.com/hub/The-Abuse-of-the-Middle-Class-by-the-World-Elite
by Peter Schiff
Ayn Rand wrote, "when you see corruption being rewarded and honesty becoming a self-sacrifice - you may know that your society is doomed."
America is not doomed, but the fellows in Washington are pushing for that outcome. It seems that all the characters that encouraged this financial crisis are being rewarded, and Ben Bernanke's re-nomination is no exception to this rule. He was on the Board of Governors when Alan Greenspan grew our bubble economy. Known as 'Helicopter Ben,' Bernanke was the most vocal supporter of low interest rates to combat the bogus threat of deflation, even if it meant dropping cash from helicopters. He succeeded in his aim - as it is hard for prices to decline while the money supply is growing by double digits.
Of course, much of that new money went into speculative bubbles, first in tech and then real estate. When the misallocation became too great to ignore, the credit markets froze and leveraged institutions started failing. Now, Bernanke says that he doesn't want to preside over another Great Depression. That doesn't mean he doesn't want another Great Depression; he just doesn't want to preside over it. His plan seems to be continuing to print money so that the depression isn't apparent until after he leaves office. However, while Greenspan was able to get out of Dodge, Bernanke will probably not be so lucky, as his reappointment virtually guarantees that he will be in the middle of the action when the bullets start to fly. Left to clean up his own mess, Bernanke will soon regret not quitting while the going was good.
Bernanke is being praised for avoiding a collapse in the financial system. While he has forestalled some short-term pain, he has in turn forsaken long-term gain. The 'green shoots' that set the pundits alight are nothing more than the direct effects of massive monetary expansion. What we have is nominal growth in the unproductive service and consumption sectors. In short, Bernanke is being praised by the drug addicts for not cutting them off. But the thing about addiction is that the longer you stay hooked, the more deadly the withdrawal.
What this country needs is a Fed Chairman that is immensely unpopular, backed by a courageous President. Under Paul Volcker and Ronald Reagan, this model proved effective at avoiding a complete economic collapse in the early 1980's. In case posterity's resounding approval has clouded anyone's memory, Volcker was vilified and threatened with impeachment at the height of that crisis. Reagan's decision to stand behind Volcker allowed the Chairman to persevere. It has never been popular to be responsible. Only after the markets settled and the country experienced twenty years of prosperity was history's final judgment made about Volcker.
Greenspan undid the painful sacrifice we made in 1981. He grew a bubble in tech stocks and then refused to allow the economy to restructure after it burst, instead inflating a real estate bubble in its stead. Meanwhile, federal spending ballooned, along with unfunded liabilities and guarantees that distorted the capital markets. The Fed created moral hazard because the government assumed that any excessive debt would be monetized. When push came to shove, Bernanke did exactly that, perhaps even hiding his intervention by buying Treasuries through intermediaries. In doing so, he allowed our elected officials to avoid making the politically costly decisions that would have prepared the country for future growth.
To get a sense of Bernanke's ultimate legacy, look no further than Argentina. Though many of the rich and powerful had moved their savings abroad, a currency collapse wiped out the middle class in that historically prosperous country. Is such an outcome worth the short-term comfort of avoiding the severe but temporary pain of unemployment and mortgage defaults?
Bernanke's re-nomination is a politically safe decision for President Obama, and at least Bernanke is a devil we know. However, this lack of a 'change' for the better should squash any 'hope' for a genuine recovery. If the Bush years were as bad as the Democrats claim, then it is curious that they are mimicking and magnifying the same mistakes. No one has been held accountable for a financial crisis that the professors, pundits, and politicians told us would not come. All the same players are running the game, always changing the rules so they stay on top. Real 'change we can believe in' would be a return to our roots in the rule of law and a system of sound money - but it's hard to stay grounded when you're throwing money from helicopters.
http://bank-abuse.com/banksters.html
HTTP://WWW.PUSHHAMBURGER.COM
Posted August 26th, 2009 by Michael Nystrom
by Chris Martenson
August 25, 2009
Snip:
Replacing private credit with public credit
Our entire monetary system, and by extension our economy, is a Ponzi economy in the sense that it really only operates well when in expansion mode. Even a slight regression triggers massive panics and disruptions that seem wholly inconsistent with the relative change, unless one understands that expansion is more or less a requirement of our type of monetary and economic system. Without expansion, the system first labors and then destroys wealth far our of proportion to the decline itself.
What fuels expansion in a debt-based money system? Why, new debt (or credit), of course! So one of the things we keep a very close eye on over here at Martenson Central, as they do at the Federal Reserve, is the rate of debt creation.
One of the big themes in the current credit bubble collapse is the extent to which private credit has been collapsing and the corresponding degree to which the Federal Reserve has been purchasing debt and the federal government has stepped up its borrowing. In essence, public debt purchases and new borrowing has attempted to plug the gap left by a shortfall in private debt purchases and borrowing.
That's the scheme right now - the Federal Reserve is creating new money out of thin air to buy debt, while the US government is creating new debt at the most fantastic pace ever seen. The attempt here is to keep aggregate debt growing fast enough to prevent the system from completely seizing up.
How are they doing? Continue here for the full report
http://www.chrismartenson.com/blog/shell-game-how-federal-reserve-monetizing-debt/25806
"Obama's Spending Spree: Budget Numbers 'have all gone mad' Analyst Says"
http://finance.yahoo.com/tech-ticker/article/312185/Obama's-Spending-Spree-Budget-Numbers-%22Have-All-Gone-Mad%22-Analyst-Says?tickers=%5Edji,%5Egspc,wmt,tgt,rost
Money quotes:
"Barack Obama's numbers have all gone mad. Six months ago, he told us 7 Trillion. Unfortunately in six months -- six months -- it's 9 Trillion."
"His employment numbers, of course, are mad. 8.1, 9.5 and headed to 10. His entire budget is discredited. We're off the charts. Living standards will never be the same."
"When you've got the combination of the end of the Bush tax cuts, slowing down all of these bailouts and spending, we go right back into the tank -- just like the Japanese did after the 7 bailouts!" [Blodget nearly chokes on this one]
"All of Obama's numbers have been CRAZY, yet people believe him!... Are you kidding!?"
"Always be loyal to your country. NEVER be loyal to the people in power, becaus they're conning you every day."
I will get around to posting this clip with your commentary...
As an explanation for our lack of coverage this week...i'm working behind the scenes to expand the Daily Bail...adding employees and interns and taking office space...we want to be able to cover these issues in greater detail going forward and I can't do it without help...
So bear with our slow coverage this week as I attempt to take care of about 1000 things on our way to expansion...
Michael Badnarik On The Constitution : We The People Have the Power
http://www.youtube.com/watch?v=hIggk2dFHMI&eurl=http%3A%2F%2Fwww.dailypaul.com%2F&feature=player_embedded#t=90
TIME TO REVOLT :
My Fellow Americans
Do you get it now or not?
We the working class (So called Middle Class) Have been scammed by biggest MORTGAGE PONZI SCAM by Federal Reserve Banker Thugs /Walls Street Shills
Also Corporate Crooks have looted our Pensions with Zero Cost Back Dated stock option crimes and shipped our Industrial base & Jobs to Asia.
Federal Reserve Banker Thugs/Wall Street Shills/Corprate Crooks = HOME GROWN FINANCIAL AL QAEDA
Washington= DEMON_RATS & REPO-CONS =Politicians in Washington DC have worked for the HOME GROWN FINANCIAL AL QAEDA .
or this way to understand:
The Washington Criminal Blood Sucking Pests (SENATE & CONGRESS)+PRESIDENTS starting with BILL CLINTON/BUSHES/Now CHICAGO MOB SHILL(OBAMA) have sided with the HOME GROWN FINANCIAL AL QAEDA
My fellow Americans: remember it is our Blood Sweat TAX Dollar Credit card the HOME GROWN FINANCIAL AL Qaeda is using at Zero Percent Interest Rate handed by WASHINGTON CRIMINAL SENATORS * CONGRESS*
And do ya get it now or not?
It is our TAx Blood Sweat dollars and we are being banged and scammed by same criminal crooks with higher Credit card/ fees and Interest rates and thrown out of homes.
And no Criminal got punished but got rewarded by OBAMA(CHICAGO MOB SHILL) + DEMON RATS/REPO-CONS
BIGGEST PONZI SCAM CRIME EVER IN HUMAN HISTORY AND WE USA BAMBOOZLED FUCKS DON't GET IT?
My Fellow Americans;
WASHINGTON CRIMINAL CROOKS ARE CRIMINAL RULERS AND NOT OUR REPRESENTATIVES ANY MORE......................
HARSH REALITY: We are now broke and reeling under debt and are perma working slaves of this HOME GROWN FINANCIAL AL QAEDA
Now we must decide:
Do we want to be Working slaves of this Home Grown Financial Al Qaeda who busted and is rewarded for the crimes?
or
We must revolt now to free our selves from this enforced DEBT Slavery on us by these Criminals?
My Fellow Americans:
I give you my conviction, we must revolt and I provide you all with a NON VIOLENT WEAPON that we must unitedly use now
WEAPON: Dump all Mutual Funds and stocks and buy short term treasury bonds
Stop making all payments to Banker Thugs
this weapon will CRASH THE PONZI SCAM WALL STREET CASINO(EPICENTER OF THE HOME GROWN FINANIAL AL AQEDA)
And Shut the Federal Reserve down.......
LAUNCH NEW PARTY UNDER LEADERSHIP OF DR. RON PAUL and defeat both party criminal blood sucking pests.........
We refuse to honor Nation Debt enforced on us by these criminal Al Qaeda...................
A NEW NATION WILL BE BORN AGAIN ACCORDING WISHES OF OUR FOUNDING FATHERS........................
WE ALL WILL BE DEBT FREE................
MY FELLOW AMERICANS:LET US UNLEASH THE REVOLUTION NOW
Can you folks explain: how we unite and call a Nationwide strike?
FDIC to Issue IOU's to Customers of Failed Banks Maybe eh?
When the FDIC tells you that your deposit is insured and that no-one has ever lost a penny and will not lose a penny that's a technically true statement.
However, there's 416 banks on the FDIC's troubled bank list today.
$299.8 billion dollars worth.
The agencies trouble bank fund has only $10.4 billion dollars left in it.
Seems pretty conceivable to me that the FDIC could very well start handing out I.O.U's to bank customers like California handed out I.O.U's and their statement that you're not going to lose any money will still be technically correct. haha..
Why no, you didn't lose your money. You just don't know when you will be able to cash in and collect on your I.O.U. that's all.
Or, the FDIC could freeze withdrawals of your money. You didn't lose anything they can tell you. You just can't get access to it.
You know how Washington play's these word games. It depends on what the definition of "is", is....or how torture is defined, or what mission accomplished means. Yeah you didn't lose any of your money, you just can't have it right now..
The writing is on the wall. What else are they going to do, have the US Treasury borrow more money from China to bail out the FDIC? I wonder if they would get it?
Ya know the worse part about this whole thing that was brought to you by the people that run Goldman Sachs and the like is that NOTHING HAS CHANGED. These investment banks like Goldman still have the power over Washington to do it ALL OVER AGAIN.
There is nothing stopping them. Bust out America and get another bonus!
Urgency of Revolt: non violent Gandhi style
Stop all payments to banker thugs now.............................................
Gandhi Revolution: Disobidience
Submitted by Tyler Durden on 08/27/2009 10:35 -0500
http://www.zerohedge.com/article/racketeering-101-bailed-out-banks-threaten-systemic-collapse-if-fed-discloses-information
And so the guns come out blazing. The Clearing House Association, another name for all the banks that were bailed out over the past year with the generous contributions from all of you, dear taxpayers, are now threatening with another instance of complete systemic collapse if Bloomberg's lawsuit is allowed to proceed unchallenged, let alone if any of the "Audit The Fed" measures are actually implemented.
As a reminder, The Clearing House Association consists of ABN Amro, Bank Of America, The Bank Of New York, Deutsche Bank, HSBC, JP Morgan Chase, US Bank and Wells Fargo.
In a declaration filed in the Bloomberg Case (08-CV-9595, Southern District of New York), the banks demonstrate no shame in attempting to perpetuate the status quo with regard to the Federal Reserve and demand that the wool over the eyes of the general population remain firmly planted in perpetuity.
The Clearing House submits this declaration because the Court's Order threatens to impair the ability of our members to access emergency funds through the New York Fed's Discount Window without suffering the severe competitive harm that public disclosure of their identity will cause.
Our members have accessed the New York Fed's Discount Window with the understanding that the Fed will not publicly disclose information about their borrowing, especially their identity. Industry experience, including very recent and searing experience, has shown that negative rumors about a bank's financial condition - even completely unfounded rumors - have caused competitive harm, including bank runs and failures.
Surely transparency would facilitate rumor-mongering to an unprecedented degree. After all rumors spread much easier when everyone knows the true financial condition of banks.
And here, in plain written Times New Roman, you see what racketeering by a major bank consortium looks like:
If the names of our member banks who borrow emergency funds are publicly disclosed, the likelihood that a borrowing bank's customers, counterparties and other market participants will draw a negative inference is great. Public speculation that a financial institution is experiencing liquidity shortfalls - which would be a natural inference from having tapped emergency funds - has caused bank customers to withdraw deposits, counterparties to make collateral calls and lenders to accelerate loan repayment or refuse to make new loans. When an institution's customers flee and its credit dries up the institution may suffer severe capital and liquidity strains leaving it in a weakened competitive position.
Pardon me if I am a broken record here, but would rumors not spread much less if there was more transparency, if investors and other financial intermediaries were fully aware of the conditions of their counterparties, if banks did not have to cover their billions in reserve losses by pretending they are viable and essentially being constant wards of the state?
The Banks' racketeering has gone on for far too long.
And yet, it does not stop: the conclusion from the banks' letter:
In sum, our experience differs from the factual conclusions the Court appears to have reached about the nature of competition in the banking industry:
● The competitive harm to institutions that are publicized as needing emergency funding is not "speculative," but demonstrated by the recent multiple failures of financial institutions whenever information about their funding difficulty has been disclosed.
● The disclosure does not involve mere "embarassing publicity" but information that could result in the immediate demise of an institution.
● The disclosure would not merely "stigmatize [ ]"the institution or make it "look [ ] weak," but goes to its very viability.
● The disclosure of accessing emergency funding is not an "inherent risk" of market participation, but an extraordinary risk in extraordinary circumstances.
● Competitors can use the disclosure to advertise or publicize that they are financial stronger because they don't need emergency funding.
In a nutshell - the banks want their complete opacity cake and eat it too, or else, the racket goes, the transparency that will somehow promote massive rumor mongering will again destroy capitalism. In the meantime, the Ken Lewises of the world can continue touting how stable their businesses are based on optimistic future projections, while implicitly, they continue to survive merely thanks to the cash granted them by your, taxpayers.
What other proof we need to revolt?
Stop making all payments to Banker thugs and let the revolution begin to end DEBT enforced slavery on us.
Fed Urges Continued Secrecy on Banks in Bailout Programs
Posted August 27th, 2009 by Michael Nystrom
NEW YORK (Reuters) - The U.S. Federal Reserve asked a federal judge not to enforce her order that it reveal the names of the banks that have participated in its emergency lending programs and the sums they received, saying such disclosure would threaten the companies and the economy.
The central bank filed its request on Wednesday, two days after Chief Judge Loretta Preska of the U.S. District Court in Manhattan ruled in favor of Bloomberg News, which had sought information under the federal Freedom of Information Act.
Preska said the Fed failed to show that revealing the names would stigmatize the banks and result in "imminent competitive harm." The Fed asked the judge not to require disclosure while it readies an appeal.
"Immediate release of these documents will cause irreparable harm to these institutions and to the board's ability to effectively manage the current, and any future, financial crisis," the central bank argued.
It added that the public interest favors a delay, citing a potential for "significant harms that could befall not only private companies, but the economy as a whole" if the information were disclosed.
http://www.reuters.com/article/ousiv/idUSTRE57Q46920090827
http://www.youtube.com/watch?v=wzrt7WY9nuY&eurl=http%3A%2F%2Fwww.dailypaul.com%2F&feature=player_embedded
Love it Mark, and agree, some of us are under contractorial obligations, but I think I am getting sick already, cough, cough.
Ever been to Seattle in November? you seem like someone I met once. 10 year ago...
I'm a Philadelphia suburbs kid, probably lived my whole life in a twenty mile radius. Until I was 29, I had never been further west than Hershey, PA, which isn't even half-way across the state. I've never even considered leaving Pennsylvania, not that I think it's so wonderful here, it's just home. (but it is beautiful in the fall here). Growing up here, you get an overdose of respect for the founding fathers, that constitution thing and so on. When I was 13, I went to see the Liberty Bell and I remember thinking, "Wow, this object has probably been touched by more people than anything else in North America." and thinking that was awesome. They don't let you touch it anymore and I think that's a shame. But I got to smear my grubby mits all over it.
You should also know that Philadelphians carry a general hostility towards the rest of the country because the country was born here, but soon vacated, seeking nicer quarters. And I kid you not, I was in my twenties when it occurred to me that booing at sporting events could be construed as rude. I figured booing was the natural sound human beings made whenever things happened that displeased you. The Phillies may have won the 2008 World Series, but in '08 they also became the first professional sports franchise to lose 10,000 games (we've had much practice at the whole booing thing). So trust me, I laugh like hell every time Jon Stewart takes a shot at us.
I like being other places, but hate traveling, if that makes any sense to you. I'm waiting for them to develop tele-portation portals so I can go see the pyramids in the afternoon and still sleep in my own bed. Seattle is on my list of places I'd like to see someday.
So it was probably some other overbearing asshole from Philly you met ten years ago.
I thought they were Delaware.
I'm glad to see the truth coming out more and more each day--I just hope we're not too late, and the response among the populace too weak.
I never thought I'd live to see the day that our government officials were guilty of TREASON, but in fact, this is the only logical conclusion to these comments and posts, and the excuse of ignorance or of misguided efforts with good intent can no longer hold.
Politicians need to be honest AND capable, especially when the country is at economic war with a corporatist global banking empire that plans to destroy America by making it a debt-slave colony and rule the world through Global Fascism!
I never thought I'd live to see the day that our government officials were guilty of TREASON, but in fact, this is the only logical conclusion to these comments and posts, and the excuse of ignorance or of misguided efforts with good intent can no longer hold.
Bloomberg filed the case and now Fed screaming appeal but can any one answer why Fed criminal terrorists be given safe passage via appeal?
Can the judgement be over turned?Constitutional experts must answer please
I appeal here we the people should file case against Federal reserve now to carry on the fight one step further. Why NBC/ABC/CBS crooks cot covering this major development?
Also we should file case against Senators/Congress for not following the constitution now =TREASON
Urgency to accelerate Revolt folks now
http://pushhamburger.com/
Racketeering 101: Bailed Out Banks Threaten Systemic Collapse If Fed Discloses Information
Tyler Durden's picture
Submitted by Tyler Durden on 08/27/2009 10:35 -0500
And so the guns come out blazing. The Clearing House Association, another name for all the banks that were bailed out over the past year with the generous contributions from all of you, dear taxpayers, are now threatening with another instance of complete systemic collapse if Bloomberg's lawsuit is allowed to proceed unchallenged, let alone if any of the "Audit The Fed" measures are actually implemented.
As a reminder, The Clearing House Association consists of ABN Amro, Bank Of America, The Bank Of New York, Deutsche Bank, HSBC, JP Morgan Chase, US Bank and Wells Fargo.
In a declaration filed in the Bloomberg Case (08-CV-9595, Southern District of New York), the banks demonstrate no shame in attempting to perpetuate the status quo with regard to the Federal Reserve and demand that the wool over the eyes of the general population remain firmly planted in perpetuity.
The Clearing House submits this declaration because the Court's Order threatens to impair the ability of our members to access emergency funds through the New York Fed's Discount Window without suffering the severe competitive harm that public disclosure of their identity will cause.
Our members have accessed the New York Fed's Discount Window with the understanding that the Fed will not publicly disclose information about their borrowing, especially their identity. Industry experience, including very recent and searing experience, has shown that negative rumors about a bank's financial condition - even completely unfounded rumors - have caused competitive harm, including bank runs and failures.
Surely transparency would facilitate rumor-mongering to an unprecedented degree. After all rumors spread much easier when everyone knows the true financial condition of banks.
And here, in plain written Times New Roman, you see what racketeering by a major bank consortium looks like:
If the names of our member banks who borrow emergency funds are publicly disclosed, the likelihood that a borrowing bank's customers, counterparties and other market participants will draw a negative inference is great. Public speculation that a financial institution is experiencing liquidity shortfalls - which would be a natural inference from having tapped emergency funds - has caused bank customers to withdraw deposits, counterparties to make collateral calls and lenders to accelerate loan repayment or refuse to make new loans. When an institution's customers flee and its credit dries up the institution may suffer severe capital and liquidity strains leaving it in a weakened competitive position.
Pardon me if I am a broken record here, but would rumors not spread much less if there was more transparency, if investors and other financial intermediaries were fully aware of the conditions of their counterparties, if banks did not have to cover their billions in reserve losses by pretending they are viable and essentially being constant wards of the state?
The Banks' racketeering has gone on for far too long.
And yet, it does not stop: the conclusion from the banks' letter:
In sum, our experience differs from the factual conclusions the Court appears to have reached about the nature of competition in the banking industry:
* The competitive harm to institutions that are publicized as needing emergency funding is not "speculative," but demonstrated by the recent multiple failures of financial institutions whenever information about their funding difficulty has been disclosed.
* The disclosure does not involve mere "embarassing publicity" but information that could result in the immediate demise of an institution.
* The disclosure would not merely "stigmatize [ ]"the institution or make it "look [ ] weak," but goes to its very viability.
* The disclosure of accessing emergency funding is not an "inherent risk" of market participation, but an extraordinary risk in extraordinary circumstances.
* Competitors can use the disclosure to advertise or publicize that they are financial stronger because they don't need emergency funding.
In a nutshell - the banks want their complete opacity cake and eat it too, or else, the racket goes, the transparency that will somehow promote massive rumor mongering will again destroy capitalism. In the meantime, the Ken Lewises of the world can continue touting how stable their businesses are based on optimistic future projections, while implicitly, they continue to survive merely thanks to the cash granted them by you, taxpayers.
((((((((We the people must join Bloomberg Case))))))))))))
http://www.pushhamburger.com/
My statement to the banksters:
First let me say that I am for peace. I do not believe that citizens should take to arms because with technology being what it is, that would prove hurtful to our children and grandchildren. But I do call for the government and or military of the United States to do what is necessary, including the use of force to protect the United States citizens from the bankster cartel. The great American experiment was the result of the founding fathers determination to be free of the central bank of England, a private bank, and our independence is derived from that protection of our people by the founding fathers. As to the present state of affairs, here is my statement:
You banksters have the AUDACITY to ask us to cooperate with you in your economic recovery after you have killed the golden goose of world prosperity, we consumers right here in the USA.
There is such a thing as divine retribution for unscrupulous behavior, even a greater judgement for that which hurts many, many people! We have been deceived by your fancy Bank of International Settlements (BIS) and its tools, the Federal Reserve Bank and FASB. You have given us off balance sheet banking and ponzi loans. You robbed our treasury. You hit us with mark to market. You threaten that again in 2011. You plan to put the off balance sheet toxic assets, which you devised, back on to the bank balance sheets in 01/2010 to hurt the banks and make us buy treasury bonds out of fear even there is no intrinsic demand for that massive debt. Had you not allowed off balance sheet banking in Basel 2 you could have maybe gotten away with your evil deeds. But what is done is done.
I declare to you banksters (and plead that our government to take note) that the Bank of International Settlements is public enemy number one of the United States and should be taken down, by force if necessary. http://bank-abuse.com/TowerofBasel.html
The United States government, or military if necessary, has the duty to protect the American banks from these banksters so that our big banks, such as Bank of America, JP Morgan, Goldman Sachs, Citibank and a few others, will not feel the desperate need to take advantage of the citizens of this country with unfair loans and interest rates and fees. Woodrow Wilson said 1913 was a time of great error. That is when he allowed the arm of European Central Banking, known as the Federal Reserve, to usurp the monetary power of the congress of the United States and her citizens.
It is past time that we urge our military and civilians in power to do something about this to save our nation from years of financial ruin.
http://bank-abuse.com/banksters.html
You should also know that Philadelphians carry a general hostility towards the rest of the country because the country was born here, but soon vacated, seeking nicer quarters. And I kid you not, I was in my twenties when it occurred to me that booing at sporting events could be construed as rude. I figured booing was the natural sound human beings made whenever things happened that displeased you.
Fun with law enforcement.
http://www.youtube.com/watch?v=moD2JnGTToA&feature=player_embedded
It was nothing but arrogance and the "master's" furthering of the message of fear to our peoples, a show of patience might have implied wisdom. If the morons and their brainwashed us and them lackeys, the police who involve themselves in such social terrorism, are seeking to quash this peaceful protest for change, let them try their hands when the masses have little choice left but smash and burn, or institute push a suit in front of their taxi day! In some circumstances "Officer down" doesn't sound like such a bad thing. We all have the inborn right to choose how we individually act in any given circumstance. There are still all kinds of penalties one might endure for making a moral choice based on thought and consideration. But there are more severe ones that might be encountered when one acts against their better judgement or simply has no individual judgement at all.
I say I know Larry just well enough to know he means it. Money is a
tool for him nothing more. Like the money for the dirt on Perry.
That amount is won or lost on a gaming table inside of 15 minutes.
Which is to say, that amount may go as high as needed to gain his goal.
I agree with action instead of quotes of a true Amercan long since
passed. All the crap I've seen, went through and for some strange
reason have found out. Why not? Just say when. I'm all in because I
too believe in the balance. Right now the people putting up with
blatently being subjected to injustice sure could use some major
counter weight.
I'm sharing this post. Thanks DB.
10/04/2011 it is. Cool.
At a smoke (em) shops comming near you.
This probably won't offend many here.
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@J. Smith - If you can't look past Flynt's reputation to acknowledge the truth in what he writes, then perhaps you should examine your own prejudices.
So many people cant see past their nose, and miss the whole picture.......They are the ones that lose it all in the end..
I know women who hated to bring him a drink he ordered that wasn't what he ordered. He's not known for being kind and gental. But I'm going gestalt when I say this. I hope he slam's the crap out of a ton of the 545 that are money war profiteering wall street gambling loving A-Holes.
I don't recall as many people slamming on Trump for A-Hole he is taling about Obama's Birth Cert that only got tired because no one cared really and still doesn't and won't. . The only difference between him and Flint is in the media he's more palitable than Flint. He will pull it but not use it where flint will. Thats the difference. If it takes a bit of Fire to fight Fire? Hell yes! I could care less about what the fu*k he did in his past. I watched two decades of my life and an entire family disapear since Clinton.
Phone callls, mail, Government Agencies, Senators and Representatives, Attorneys. Litterally ten's of thousans fo dollars gone. There is not one I ever dealt with and anyone here that has dealt with the real criminals of America as I did, in the way I did. One would be hard pressed to have done so. If you are an exception, you have my total and complete apologiy.
Because of my own experience, I don't call friggin Senators Offices or the Office of so and so. I write the short emails to the media who write stupid articles that have no idea what there talking about. For the ones still with the beliefe that people can reach the mind of a someone in office, let me try to save you some moey and time. Write and call the media instead.
I'm tired of people calling me a racest because I say that the president is as much white and he is black and failed by chosing a side. MLK took a bullet trying to bring us together. Anyone here that might remember during his "I have a Dream" speech when he said "WE ALL GO TO JAIL TOGETHER". Not It's your turn to go to jail because we did.
Bill Cosby just did another stand up about people who call them selves African American. It is funny as hell, because it's the truth. He went on to say there is no talk of European American because they don't Exsist! I know he's right and so does everybody else. In short, if your American, be one. Say with pride you are one! I for one will never accept or acknowledge that the president saying he is "The first African American President" as a positive to what Dr, King was trying to accomplish.
Boy, I should have never said that huh? Even though I know nothing of my herritage and am watching my wife DIE! because some asshole thinks my wife and I are not important enough to help even though I have tons of "Due Dilligence that shouold exclude me from being held from "Due Proccess" in order to avoid being another stat of a disposible human being. So we allow them to turn us into Human Doings. Then we fight with each other. No wonder I'm fu*k'd?
Right on Larry!!!!!! Even if it's just the one, F*CK HIS SH*T UP!!!!
Perfect post DB. It prooves once again that no matter the suggestion or sollution there is always going to be people that will perpetuate the problem, no matter what.
I ask myself why I'm at the Daily Bail. Because I think DB is on the same page as me. If just all of us who agree with DB follow his lead, I follow him with you. Pick a side then let me know.
Peace out.