Category Archives: truth

Moral Hazard of Psychopathic Bankers and Oligarchs

moral hazard

Zombie Bankers in Night of the Living Debt – Click on image to view full size

Moral hazard is a concept that is arguably misunderstood, since those responsible for the damage have neglected to acknowledge its terms. Moral hazard is perceived by Allan Loeb in Wall Street: Money Never Sleeps as ‘‘being able to steal your money without responsibility’’. This very crude description of moral hazard, however, turns out to be fairly exact. In the financial system, moral hazard occurs when the person investing money is not held responsible for the outcome of their investment strategy.2atardif.com

America’s Controlled Economic Implosion

What is really going on with our economy and who is really responsible? You Have The Right To Remain Silent. But We Hope You Won’t. FOR MORE TRUTH, VISIT: http://www.puppetgov.com

Viewers around the world were shocked in September when a trader told the truth to BBC, that “the global crash is coming ” and “Goldman Sachs rules the world”. He said that as a trader he didn’t care what happened to the planet, that he would make money even if the whole world economy was destroyed.

BBC Speechless As Trader Tells Truth: “The Collapse Is Coming…And Goldman Rules The World”

BBC News—Sept. 26, 2011— New CNN interview: www.cnn.com news.yahoo.com Just listen to this guy. Thanks to zerohedge for posting this story. Copyright BBC News 2011 …

“This is the beginning of the end. Both the EU and U.S. are politically paralyzed, seeming only to be able to make compromises that involve more spending, more debt, and more central planning. The results are all too predictable to free-market thinkers: bailouts leading to moral hazard, low interest rates leading to ballooning debt, and eventually a cascade of systemic failures – leading to more bailouts. This was confirmed recently when central bankers on both sides of the Atlantic announced a coordinated tidal wave of new money to bailout the Western banking system yet again.”

Peter Schiff
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Ann Barnhardt: The Entire Futures/Options Market Has Been Destroyed by the MF Global Collapse:

“You have to start acknowledging these people for what they are, and that is: Moral degenerates, basically sociopaths and psychopaths. Meaning they don’t feel any sympathy or empathy for other human beings.”

“They will lie to your face, they’ll look in the camera with this tremendous earnestness and lie with fork tongues through their teeth in order to advance their wealth and power.”

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Gutless weasels; Secret Fed Loans Gave Banks $13B Undisclosed

I’m convinced that it’s SYSTEMIC for financial institutions to prey on their unsophisticated (or certainly less sophisticated) customers.  As I was thinking of examples, I realized that I’m having trouble thinking of ANY type of consumer loan or financial product in which there ISN’T widespread abuse.  Mortgages, credit cards, debit cards, student loans, auto loans, check cashers, pawn shops – ALL OF IT!!!.

Publish Date: 12/06/2011 18:14

http://www.valuewalk.com/2011/12/gutless-weasels-secret-fed-loans-gave-banks-13b-undisclosed-congress-secrets-bailout-jon-stewart-60-min-prosecuting-wall-st-fin-crimes-bedevil-prosecs-wall-st-occupied-banker-speaks-regret-death-offer/
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Moral Hazard | Indyfromaz’s Blog: The Thoughts of An Independent

The perceived safety net creates what economists call moral hazard — the belief that bankers will take greater risks because they’ll enjoy any profits while shifting losses to taxpayers. Moral hazard arises because an

Publish Date: 11/29/2011 7:06

http://indyfromaz.wordpress.com/2011/11/29/moral-hazard/

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Psychopathic Economics 101

Psychopaths aren’t limited to seemingly nice people who invite you over for dinner, then cut you into pieces and serve your fresh innards on a plate. The World Health Organization has a “Personality Diagnostic Checklist” that is used in conjunction with this work. You’ll recognize it by the check marks.

Psychopath Diagnostic Checklist:

✔ Callous unconcern for the feelings of others.
✔ Incapacity for maintaining enduring relationships.
✔ Reckless disregard for the safety of others.
✔ Deceitfulness, repeated lying and conning others for profit.
✔ Incapacity to experience guilt.
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Paul Craig Roberts states that the Bankers have seized Europe: Goldman Sachs has taken over.

“Who will rule the New Europe? Obviously, the private European banks and Goldman Sachs.

The new president of the European Central Bank is Mario Draghi. This person was Vice Chairman and Managing Director of Goldman Sachs International and a member of Goldman Sachs’ Management Committee. …

Obviously, Draghi is going to protect the power of bankers.

Italy’s new prime minister, who was appointed not elected, was a member of Goldman Sachs Board of International Advisers. Mario Monti was appointed to the European Commission, one of the governing organizations of the EU. Monti is European Chairman of the Trilateral Commission, a US organization that advances American hegemony over the world. Monti is a member of the Bilderberg group and a founding member of the Spinelli group, an organization created in September 2010 to facilitate integration within the EU….

The European Union, just like everything else, is merely another scheme to concentrate wealth in a few hands at the expense of European citizens, who are destined, like Americans, to be the serfs of the 21st century.
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‘Zombie bankers’ to drag Europe into ‘banker hell’ – Max Keiser

As Mario Monti, former Goldman Sachs advisor and Bilderberg attendee, takes over as PM of Italy, Max Keiser discusses where the Europe debt crisis is heading as the banksters begin to seize direct control. 14 Nov 2011 rt.com Copyright to RT, Fair Use…

‘Goldman Sachs dictatorship – Hitler’s dream’

Time is running out for Eurozone leaders to save the single currency, as they prepare for eleventh-hour talks in Brussels. Germany and France are pushing to change EU treaties, to create a fiscal union and introduce tougher budget rules.However, the …

From Carl Herman:

Psychopaths are viciously destructive in action. They obfuscate with lies and charm. They persist only when their actions are unrecognized; 95% of the population reject such criminal destruction (here and here).

US political and economic “leadership” are psychopaths because their central policies are viciously destructive, as the following links explain, document, and prove. “Leadership” obfuscate with lies, charm, and US corporate media complicity.

Calling this behavior psychopathic is perfect because it neither understates nor overstates the facts. Use this academic term at your command. I also suggest Princeton professor Frankfurt’s academic term for the type of “lies” that “leadership” uses: bullshit.

“As I grow older, I pay less attention to what men say. I just watch what they do.” – unsourced and attributed to Andrew Carnegie

The destruction of millions of lives and trillions of dollars will end when enough Americans recognize and assert the “emperor has no clothes” facts:

– Congressional reports disclose that all “reasons” for war with Afghanistan and Iraq were known to be lies as they were told.

– Orwellian unlawful wars, including using depleted uranium weapons to damn victims with continuous misery and death.

– obfuscating from the obvious answer of ending an Orwellian “debt supply” and replacing it with money.

– allowing a million children a month to die of preventable poverty, even though historically ending poverty reduces population growth rate and the investment is less than 1% of the developed nations’ gross national incomes (GNI).

– torture, extrajudicial assassinations (including against American citizens) and indefinite detentions.

– destruction of the US Constitution into a form of government closest to fascism and nowhere near a constitutional republic.

– literally throwing Americans onto the streets rather than take any of a dozen acts to allow them to stay in their homes.

– intentional unemployment, crime, infrastructure decay, fear, anger, depression (both economic and psychological) rather than create money for full employment.

– allowing 45,000 Americans to die every year from lack of health care, even though universal single-payer saves the nation $100-$300 billion every year.

Read more…..

We Don’t Need No Debt Forgiveness

Confession Booth

Confession Booth

Ann Pettifor, co-founder of the Jubilee 2000 campaign, hits the nail on the head in an interview with Salon when she says we should not use the language of “debt forgiveness”:

“I would not use the language of “debt forgiveness.” This phrase was strictly prohibited in Jubilee 2000, because it implied that the debtor was the “sinner” and needed “forgiveness.” Instead we argued that there is co-responsibility for the debt, and within that frame the more powerful creditor must take a greater share of responsibility for the losses associated with the debt. As things stand in the U.S., as far as I can see, Wall Street takes no responsibility for the vast debts it heaped on the shoulders of working Americans – debts vast as space.”

Read more at Salon

Meanwhile, money managers are confessing loss, but not sin…

Yesterday, Matthew Goldstein and Jennifer Ablan at Reuters published an essay entitled “The Confession Season“. Confessions of huge losses are starting to come in from some of the biggest U.S. money managers. Apparently they made some wrong bets guessing which way things would go in the market casino. Besides sending out “sorry” letters to investors, many are also on the defensive against the  Occupy Wall Street protesters, claiming that they are unfairly being vilified.

The article draws attention to John Paulson, “famous hedge fund manager” whose fund is down 47 percent this year:

Paulson’s confession, however, was overshadowed  some by a somewhat defensive statement he issued after the conference call, in which he blasted the ongoing Occupy Wall Street protests…He said it’s wrong for anti-Wall Street protestors to vilify business and in particular, the “top 1 percent of New Yorkers” who pay over 40 percent of all income taxes. But Paulson made no mention of the roughly $5 billion personal payday he had in 2010.

The article goes on to say that its unlikely that the OWS demonstrations will elicit any confessions of wrongdoing from the money managers, who are loathe to take any responsibility for the financial crisis, or acknowledge that the debt burden crushing US citizens is unpayable.

Mention is made of some economists calling for jubilee. On this issue the bankers are silent.

Self Evident Truth the Foundation of Jubilee

 

Writing Declaration of Independence

Life and Liberty: The Self-Evident Foundational Truths of Jubilee and the American Revolution

Jubilee is based upon principles of self-evident truth, that are the very foundations of the Universe. These truths express the identity of God, Mankind, and the purpose of Government.

These self-evident truths, or “principles” are LIFE and LIBERTY.

The most memorable formulation of these truths was written in the American Declaration of Independence:

We hold these Truths to be self-evident, that all Men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are Life, Liberty, and the Pursuit of Happiness.

That this formulation of LIFE and LIBERTY is derived from the Biblical Jubilee and is hardwired into American cultural DNA is no accident.

The founders of America were all very familiar with Biblical concepts and imagery, part of everyday culture in the early American colonies.

1.)  JUBILEE CELEBRATES ‘LIFE’ AND ‘LIBERTY’

Jubilee is one of the ‘sabbaths’ in the Bible.

Sabbaths celebrate two things:

1. CREATION – celebration of God resting after 7 days of Creation

“Having completed the work of creation, God rested.  It was the seventh day, and on account of God having rested, it is called the “day of rest”, or the Sabbath.  Such was His delight in viewing the completeness of His work, and in His resting, He blessed and sanctified the seventh day.”

2. LIBERATION– deliverance from the slavery of Egypt.

“We read nothing more of the Sabbath until Israel was brought out of Egypt.  Being a redeemed and separate people, God then gave them this day of rest as a sign between Him and them (Ezek. 20:12), making known to them, and to no other nation, “His holy rest” (Neh. 9:14).”

Benjamin Franklin's Design for Great Seal of the USA

Benjamin Franklin’s Proposed Design for the Great Seal of the United States

In 1776 Benjamin Franklin proposed that the Great Seal of the United States show Moses with his rod lifted and the Egyptian army drowning in the Red Sea.

Benjamin Franklin’s proposal is preserved in a note of his own handwriting:

“Moses standing on the Shore, and extending his Hand over the Sea, thereby causing the same to overwhelm Pharaoh who is sitting in an open Chariot, a Crown on his Head and a Sword in his Hand. Rays from a Pillar of Fire in the Clouds reaching to Moses, to express that he acts by Command of the Deity.

“Motto, Rebellion to Tyrants is Obedience to God.”

Thomas Jefferson also suggested allegorical scenes. For the front of the seal: children of Israel in the wilderness, led by a cloud by day and a pillar of fire by night.

In Summary: The Sabbath is the 7th day of rest.
Every seventh year is a Sabbatical Year.
Jubilee is an amplified Sabbath that comes once in 50 years.
Sabbaths celebrate Creation and Liberation: Life and Liberty

2.) The First Two Books Of The Bible Are Genesis And Exodus: Signifying ‘LIFE’ and ‘LIBERTY’

The names of the first two books of the Bible are:

1. GENESIS (signifying creation, the beginning of life)
and
2. EXODUS (signifying liberty, deliverance from tyranny)

Genesis Exodus

Genesis and Exodus: Life and Liberty

GENESIS (i.e. Creation) deals with the story of the origin of LIFE, of CREATION.  According to the Bible, Humankind is made in the image of God, that is, we are CREATIVE beings, FREE, and since created in the Image of God, we are also do creative work which transforms our physical and social environments. We are thus distinguished from BEASTS.

EXODUS, the second book of the Bible, is about DELIVERANCE, FREEDOM from the  BONDAGE of Egypt). Exodus is about LIBERTY.

GENESIS, EXODUS = LIFE, LIBERTY

3. THE HEBREW VERB ‘BARAH’ HAS THE DOUBLE MEANING OF CREATING AND LIBERATING

In “God the Economist” by M. Douglas Meeks, in a footnote to Chapter 6, God and Work, Meeks states that the Hebrew verb BARAH has the double meaning of CREATING and LIBERATING:

Even though God’s creative and redemptive works are distinct, they are not radically different. When the Biblical traditions speak of God’s creating, they use the language of liberation; when speaking of the liberating work of God, they return to the language of creation, “the new creation”. The word Barah is used exclusively of God’s work and sets God’s work apart from all human work.. Barah had already been used in Israel’s theological traditions to refer to God’s liberating Israel from ‘the household of bondage’. Barah, God creates, means basically “God liberates”.

4. GOD’S ACTIVITY IS THAT OF CREATION AND LIBERATION

Liberty Bell

The Liberty Bell with the Jubilee Inscription: Proclaim Liberty

In an essay entitled “Creation and Liberation”, USQR 33:2, Winter 1978, pages 79-89, George Landis writes concerning the text of Psalm 124, in the final verse, where it states,

“Our help (divine deliverance from oppressors and enemies) is in the name of Lord who made (created) heaven and earth”.

… In his concluding affirmation the Psalmist has succinctly brought together what very well may be the two most important themes in the entire Biblical witness: liberation and creation.

Landis asks the question why these two concepts are joined together, in a treatise of the creating and liberating God.

Our LIBERTY is in the CREATOR GOD WHO SETS US FREE.
In Hebrew thinking, the cosmic CREATOR is also the COSMIC LIBERATOR, whose actions are extended into history. Yahweh is the ever present one, active in breaking yokes of bondage. Israel was constantly reminded of God’s liberating actions in history. And liberation stories involve God actively using creative forces of nature to aid in deliverance.

In Isaiah 42:5-9 God states that He who created the Heavens will bring the prisoners out of the prison house:

5 Thus saith God Jehovah, he that created the heavens, and stretched them forth; he that spread abroad the earth and that which cometh out of it; he that giveth breath unto the people upon it, and spirit to them that walk therein:
6 I, Jehovah, have called thee in righteousness, and will hold thy hand, and will keep thee, and give thee for a covenant of the people, for a light of the Gentiles;
7 to open the blind eyes, to bring out the prisoners from the dungeon, and them that sit in darkness out of the prison-house. (American Standard Version)

FREEDOM, EQUALITY, INALIENABLE RIGHTS

“From their long nomadic history prior to their entrance into Canaan, and their many centuries of later wandering in the wilderness as as nomadic tribes wherein no sharp class distinctions existed, the Jews carried over into their settled life in Palestine a love of freedom and equality which survived through all the subsequent centuries.  They cherished a tradition which was bound up with the dignity of man fashioned in the image of God, and with his fundamental and inalienable rights.  It was that tradition, enshrined in the Bible, which more than any other factor gave sanction and inspiration to the Peasant Rebellions in Germany in the sixteenth century, the Puritan Revolution in England in the seventeenth, and the American Revolution in the eighteenth.”

pP. 236-7, Where Judaism Differed by Abba Hillel Silver (1972)