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« "The United States Of Europe Is Collapsing As We Speak" | Main | Michael Moore's Mistake: "Keep The Fed, End Capitalism" »
Wednesday
Oct262011

Peter Schiff On Occupy Wall Street: "They Aren't Protesting Capitalism, They Are Protesting A LACK Of Capitalism"

  • "China gives communism a good name and we give capitalism a bad name."

Schiff nails it.  Here's the clip of Captain Midnight he references.  We've been making the same point since the protests began.

 

 

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Reader Comments (11)

Oct 26, 2011 at 12:18 PM | Registered CommenterDailyBail
The flaw that I see with Libertarianism is they refuse to acknowledge that government has provided a relatively solid infrastructure of electricity, uniform roadways, an effective sewage system, phone lines, and the ability to mass produce food as necessary.

Under libertarianism, everyone would have had their own fiefdom and they would not necessarily have been interconnected with the next city, let alone their own neighbors. The fact that libertarians will never admit that if they had had their way in the building up of America we would probably be worse off today is why I don't trust libertarianism very much even though I can agree with some of their principles.
Oct 26, 2011 at 12:41 PM | Unregistered CommenterAlessandro Machi
Why don't we instead just get the political bribery out of the system and let politicians do their job without the flow of campaign bribes? Yes, we'd see "free-for-all crony capitalism" morph into "fair-market capitalism", and Schiff is correct: we need "crony" government out of our lives. "SOME" socialism is smart (health care and education, ala Denmark) and without the political bribes flowing we'd get there in time. But ONLY public funding of campaigns will allow it.

Jack Lohman
http://MoneyedPoliticians.net
Oct 26, 2011 at 1:23 PM | Unregistered CommenterJack Lohman
Essay on The Era of The American-International Banker Ponziophile (Pleonexiaphile)-June 2, 2011-(repost)

The Wall Street Gang and The Big Banks Gang (American and International, IMF, World Bank et. al-exceptions are LOCAL community banks) have lied to us and stolen from us. It is as simple as that. The Regulator elements, such as The Fed (private) and the Federal regulators (public) and many elected officials have been The Facilitators in this Co-Dependency of Corruption……The Mainstream Media and The Neoconservative Media Lies to us about employment and other economic indicators, telling us how everything is improving……Not so.
Some years ago (not too many) individuals and then gradually (maybe not so gradually), as the “collective ethic” changed, Wall Street and The Big Bankers realized that there was MUCH MORE MONEY and money which could be made MUCH FASTER AND EASIER if they just by-passed employment and production of REAL GOODS AND SERVICES and just made money out of money (Because of powerful, unreasonable unions and government regulation, as well as some other factors, much of America‘s former economic might of goods and services has been exported offshore anyway)………Hence, the various “Instruments” were created: “Ponzi A” rated, “Ponzi B” rated and so on, going far down the line to “Ponzi Z,” rated bonds, thus creating 26 times the original wealth, let’s say (since there are 26 letters in the English Alphabet-36 letters in the Russian alphabet, take note).
Nothing will change SIGNIFICANTLY until these guilty people are investigated, prosecuted, convicted and put in jail. And they should not be put in Country Club Jails, like Bernard Madoff, but they should be put in REAL jails like the one where DSK resided, Riker’s Island. These people are “Ponziophiles” who have reeked havoc on The Entire World and have caused suffering and even death, to millions of individuals…………Once they are jailed, TAKE BACK THE MONEY THEY STOLE!
I am a capitalist. Capitalism is good but some men are not motivated by good, employing their capital and their ideas in helping others by creating employment and other positive contributions to society. These Ponziophiles have been consumed with Pleonexia, unbridled greed and covetousness, making/taking money out of other peoples’ money. This is not capitalism. This is “Ponziophilia,” and it is immoral, indecent and shameful.
There are some Good Men and Women who are trying to make this happen, but until IT ACTUALLY DOES there will be little confidence in the “confidence men” of Wall Street, OR The Banks, OR The Fed, OR The Treasury OR “The Fantasy Island of Economic Indicators/Statistics.”
These people are “Ponziophiles” and should be sent to Riker‘s for Rehab! (You read “Ponziophiles” here first. I “coined“ the term today, as well as "Pleonexiaphiles.") PUT GOLD AND HONESTY BACK INTO WALL STREET, THE BIG BANKS, OUR ELECTED OFFICIALS, AND OUR CURRENCY. (When the CEO's of these Big Banking Institutions, especially Goldman Sachs, are getting yearly bonuses 100 times what I am asking for a Rare piece of God's Created Earth, when they receive these obscene amounts of money as Rewards for Lying to the Citizenry and Stealing from American children's futures, that happens to be behavior which is 2 short of The 10 Commandments Moses brought down from another piece of God's Created Earth.)

………………………………..............Leo M. McCormick……………………………….......................
…………………………….............www.SilvertonGold.org…............…………………….................

“I tremble for my Country when I reflect that God is just.”------Thomas Jefferson.

Ron Paul for President 2012-2020.……….”End the Fed”……….Back the Dollar with Gold………..(The Silverton Gold Mining Company L.L.C.---contributor).......................
Oct 26, 2011 at 1:26 PM | Unregistered CommenterLeo McCormick
("government has provided a relatively solid infrastructure of electricity, uniform roadways, an effective sewage system, phone lines, and the ability to mass produce food as necessary.")

Most of this solid infrastructure you list is falling apart or obsolete. 100 Year old sewer lines feeding overloaded wastewater treatment plants, an electrical power grid that is obsolete and poorly maintained, deteriorating state and federal highways. Bridges that are older then the 100 year old sewer systems, and in worse condition. I don't think the infrastructure can get more worse off and still function.
And food! The corporations have a stranglehold on food production in the U.S. The government bends over backwards for them. Gotta keep those campaign donors happy.

Government quit upgrading and maintaining national infrastructure to bailout and support Wall Street, the ultra wealthy, and the multinational corporations.

I am neither liberal or conservative. I am fed up, fed up with both of the major political parties in this country, it seems like the only thing they are good at is lying through their teeth so once they're elected the elites can suck more of the remaining wealth out of the American People. For everything else they're a bunch of incompetent, blundering fools.
Oct 26, 2011 at 8:36 PM | Unregistered CommenterSagebrush
I agree Sagebrush, and it is time for major change in DC. We MUST push Greens and Indy's to run and get rid of the duopoly.
Oct 27, 2011 at 8:05 AM | Unregistered CommenterJack Lohman
Bring down the bankers' house of cards; let it all implode. Then rebuild with some thought as to the potential outcome to EVERYONE involved this time.

Human beings, if left with any form of power, will abuse it more often than not.

It doesn't matter what the ideology or philosophy of the human in question, no "ism" exists that will not be abused if a person is given an unmonitored opportunity.

Citizens stop allowing other citizens (As that's all the bankers are-they are citizens) to have unfettered or unnecessary powers. Allow for small, positive signs of growth instead of devastating and useless examples of corporate mass domination. Allow for people to learn from their actions and very few of these situations could happen without quickly being resolved.

Take the time to thoroughly monitor the people you want holding your financial lives in their hands, ALL of the people chosen, and these events could never happen in the first place.

Everyone has to stop and take the time to fix this. There are no other answers and, no, someone else cannot do it for you.
Fix your problems America.

Grow up.
Oct 28, 2011 at 12:25 AM | Unregistered Commenterlili
I totally disagree with the all or nothing strategy. Save the homeowners who are losing their homes at a rate of 5,000 to 10,000 A DAY.

Save the homeowners by changing one banking rule of law. Restructuring a debt SHALL NOT require a default first.

Make that the law and we stop the loss of main street's assets. Main street has lost 7.3 TRILLION DOLLARS since 2006 in home equity assets. Isn't that a big enough issue to tackle, and win, for now?
Oct 28, 2011 at 2:41 AM | Unregistered CommenterAlessandro Machi
All the summasumarium on Taxess are that the benefits of the people at large is normaly no problem under normal usage of Tax money, nor infrastructure or maintanence, all this inturn generates more benefits, by better infrastucture.
A free health care benefits us all, and have for some ubscure reason, been hyped beyound idocy and given a integrety they dont deserv.
Free Schools benefits everyone, and everyone has the chance to become what ever they want, what the fu.. is the problem with sutch a way of organicing sosietys.
And all this is not The Problem, problems arise whaen Special intresses ocure, like AGW where Tax is spent on wast areas, and gives absolutly nothing of any wurth back.
There are a wide range of unsustaiable local Tax money use, in various prodjects and as a Security, and that many comunetys usess Tax money as Casino Money playiing it on the Wall Street. Some comunetyr loost wast summs of Tax money..
The parasitic system, built around the political elite, like Washington DC, all that cept alive by Tax money. The privat sector, just rises prices, so we pay more now, than ever. To maintain Their influences on the political system. To sustain Status Qou and to make shure Nothing rocks the monoply system all the way from Local to regional, to State gov. Tax money whent to all the bailouts, the wars, all that generates Nothing good for the comon people.

You see, thats why the dobbeltalk, the constant hacking on sosial sec. thats is not the problem, is all the other areas and intresses that is The Problem.
And in the end, we pay for it all, how can removing and/or solving all this be a bad thing, for the people of the USA.

And its never been about capitalism, this present world is fueled by greed and corruption, the wery lubricant that greasess the machinery.
Thats the problem.


"A government that robs Peter to pay Paul can always depend on the support of Paul."
George Bernard Shaw
Oct 28, 2011 at 3:13 AM | Unregistered Commentermikael
Schiff's family owns the Federal Reserve with the Rothschilds, Warburgs and Rockefellers. We don't need to take our talking points from a Judaic gangster.
Oct 28, 2011 at 6:27 AM | Unregistered CommenterMiguel Grande
"Schiff's family owns the federal reserve along with..."

And the aliens are behind the whole bigfoot conspiracy! Forget the fact that Schiff wants to eliminate the fed res. Just fly with the wild b.s. and hope you convince people of something.
Jul 5, 2013 at 7:50 PM | Unregistered CommenterLackaMacka

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