Posts Tagged ‘federal-reserve’

In our hard-hitting book INTERNATIONAL BANKSTER$: The Global Banking Elite Exposed and the Case for Restructuring Capitalism, we apply the metaphorical blowtorch to the central banking system – that financial entity responsible for overseeing the monetary system of a nation.

 

Image result for central bankers

 

A lot of the financial corruption exposed in our book relates – either directly or indirectly – to the central banking system. Given central banks are responsible for overseeing the monetary system of a nation, managing its currency, setting interest rates and steering an economy toward inflation targets, we devote an entire chapter to the central banking system.

An excerpt from INTERNATIONAL BANKSTER$  follows:

Central banks are also often called reserve banks. For example, the Federal Reserve (also known informally as the Fed) is the central banking system of the United States.

Other examples of central banks around the world include the People’s Bank of China, the Reserve Bank of Australia, the Central Bank of Brazil, the Bank of Japan, the European Central Bank (ECB) and the Bank of England.

Elements of modern central banking systems have existed for around a thousand years and date back to The Song Dynasty (960-1279 AD) in China where the first circulation of a paper currency occurred.

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“Under the guise of being nice guys, the central bankers have done to the people what no army in history has been evil enough to do.” –Jarod Kintz, This Book is Not FOR SALE

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The legendary Knights Templar – the wealthy Christian military order that reigned in medieval Europe for almost two centuries (1119-1312 AD) – ran a banking system that economists widely believe inspired present-day central banks, including the Federal Reserve in the US.

However, it wasn’t until the 17th Century that the first official central banks were formed as certain nations such as the Netherlands, Sweden and the UK began to move away from commodity money (usually silver or gold) to circulating notes that simply represented ‘promises to pay’.

From there, the central banking system spread like wildfire all around the world. Eventually, such banks cropped up everywhere from Africa and Central America to South America and Asia.

There are certain independent researchers, perhaps of the sensationalist variety, who have said “central banks are pure evil” or made other such alarmist statements. However, in reality, if a nation’s central bank is managed without internal corruption and without interference from foreign countries, it should actually be a stabilizing force. In theory, a central bank can shield an economy from volatility in financial markets not to mention prevent fraudulent activities committed by commercial banks.

But the operative word, of course, is corruption. Throw corruption into the mix and central banks start veering toward the “pure evil” term some ascribe to them.

 

Next, we devote a short chapter to the history of central banking in the US, and, of course, the mighty Fed, aka the US Federal Reserve System, features prominently…but more about that later.

 

INTERNATIONAL BANKSTER$: The Global Banking Elite Exposed and the Case for Restructuring Capitalism (The Underground Knowledge Series Book 5)

 

INTERNATIONAL BANKSTER$  is Book #5 in The Underground Knowledge Series  and is available exclusively via Amazon: http://www.amazon.com/INTERNATIONAL-BANKSTER-Restructuring-Capitalism-Underground-ebook/dp/B015QN5RTY/

 

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Many veterans of the banking and financial sectors have either stated or heavily implied that the world’s money supply is essentially being created out of thin air and has no real value. Those who subscribe to this school of thought say the shaky foundations of financial systems in the 21st Century is mainly down to the fact that all countries use Fiat Money, or inconvertible paper money made legal tender by government decree.

We examine the phenomenon that is Fiat Money in INTERNATIONAL BANKSTER$: The Global Banking Elite Exposed and the Case for Restructuring Capitalism – Book #5 in our Underground Knowledge Series.

An excerpt from INTERNATIONAL BANKSTER$  follows:

Throughout history, at various times and as recently as only several decades ago, other monetary systems were traditionally used such as Commodity Money or Representative Money. This meant the value of the money was either in the currency itself (e.g. real gold and real silver coins) or else the currency was a direct representative of a real commodity in physical storage (e.g. gold and silver certificates).

However, other financial whistleblowers argue the monetary and inflationary problems undermining the world at present have more to do with the fraudulent activities within elite banking circles than they do with the Fiat Money system.

This headline in The Washington Post edition of May 20, 2015, caught our eye: “Five big banks agree to pay more than $5 billion to settle regulatory charges.” That sounded like a reasonably large fine to us…until one critic described it as “a slap on the wrist”. When you consider the monies involved, that critic is probably right.

Excerpts from The Washington Post article follow:

“Five of the world’s largest banks have agreed to pay more than $5 billion in fines to settle charges made by regulatory agencies and the Justice Department that the banks had acted in concert to manipulate international interest and foreign currency exchange rates.

“Attorney General Loretta E. Lynch said the banks had engaged in ‘brazenly illegal behavior . . . on a near-daily basis.’ She added that the deal showed that the government ‘intends to vigorously prosecute all those who tilt the economic system in their favor (and) who subvert our marketplaces’.”

The article continues, “The scale of the price-fixing scandal is hard to grasp, yet it touched, imperceptibly, almost every company and individual in the financial markets. By tweaking global benchmarks used to set foreign exchange and interest rates for a staggering number of transactions a day, the banks — over several years — bilked billions of dollars of extra profits by altering rates in their favor.

“Critics complained that the Justice Department had failed to prosecute any additional individuals… The fines, however, are among the largest ever. Barclays will pay $2.4 billion and fire eight employees who violated New York banking law for attempting to manipulate spot foreign exchange markets, in which $500 billion worth of dollars and euros are traded every day — five times as much as on all U.S. stock markets combined…

“Dennis Kelleher, president of Better Markets, a non-profit group, said that the Justice Department had not done enough, saying ‘it talks tough, but winks at Wall Street’s too-big-to-fail banks’ criminal conduct, structuring sweetheart deals to minimize the impact on the criminals.’ Kelleher said the fines alone wouldn’t deter future criminal acts and that the Justice Department should punish bank executives and their supervisors for bad behavior. ‘Banks don’t commit crimes, bankers do,’ he said”.

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“We know now that Government by organized money is just as dangerous as Government by organized mob.” –Franklin D. Roosevelt

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“Banking is changing, slowly, but its culture is still corrupt.” That’s according to a headline in The Guardian newspaper’s edition of November 16, 2014.

In the article beneath that revealing headline, Guardian columnist Will Hutton says, “Another week, another financial scandal. Six global banks, including RBS and HSBC, were fined £2.6bn last week for rigging the foreign exchange markets. Since 2008, total fines levied in Europe and the US for banking crimes and misdemeanours now top £100bn, with banks making provision for a further £60bn. British banks alone have set aside an estimated £30bn for fines, provisions and litigation costs.”

Hutton asks, “What has gone wrong with Western finance?”

We are asking the same question.

Hutton continues, “The systemic ripping off of customers continued after the financial crisis to constitute what is now the biggest-ever global corporate scandal. Banks worldwide duped clients into buying products that were either not needed or provided no purpose. Worse, they organised financial markets whose purpose was to serve their own interests rather than those they purported to serve. It has proved a hard habit to break.

“British banks selling payment protection insurance (PPI) products on an industrial scale were doing what a street vendor in a bazaar might try. It shouldn’t have happened but it’s a perennial temptation. Finance is more exposed to this sort of risk, because customers are more credulous about financial products; and also because regulators have allowed banks to book the profits from products they sell on the moment of sale rather than over their life”.

Hutton concludes, “And yet reading the chatroom banter, with its echoes of the banter over mis-selling PPI, rigging interest rates or derivatives, offers a window into a very degraded culture. Making money from money, with the clients’ interest last, is too dominant an element in the culture of investment bankers. Companies are seen by too many people, notably shareholders, as just instruments for self-enrichment”.

But honestly, what can we expect from banksters when all they usually receive is a “slap on the wrist” from lawmakers whenever they get caught doing wrong?

TBC…

You have been reading an excerpt from INTERNATIONAL BANKSTER$.

INTERNATIONAL BANKSTER$: The Global Banking Elite Exposed and the Case for Restructuring Capitalism (The Underground Knowledge Series Book 5)

This book is available exclusively via Amazon: http://www.amazon.com/INTERNATIONAL-BANKSTER-Restructuring-Capitalism-Underground-ebook/dp/B015QN5RTY/  

 

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Many veterans of the banking and financial sectors have either stated or heavily implied that the world’s money supply is essentially being created out of thin air and has no real value. Those who subscribe to this school of thought say the shaky foundations of financial systems in the 21st Century is mainly down to the fact that all countries use Fiat Money, or inconvertible paper money made legal tender by government decree.

We address this in book five in The Underground Knowledge Series – the contentious new release, INTERNATIONAL BANKSTER$: The Global Banking Elite Exposed and the Case for Restructuring Capitalism.

INTERNATIONAL BANKSTER$: The Global Banking Elite Exposed and the Case for Restructuring Capitalism (The Underground Knowledge Series Book 5)

An excerpt from INTERNATIONAL BANKSTER$  follows:

Throughout history, at various times and as recently as only several decades ago, other monetary systems were traditionally used such as Commodity Money or Representative Money. This meant the value of the money was either in the currency itself (e.g. real gold and real silver coins) or else the currency was a direct representative of a real commodity in physical storage (e.g. gold and silver certificates).

However, other financial whistleblowers argue the monetary and inflationary problems undermining the world at present have more to do with the fraudulent activities within elite banking circles than they do with the Fiat Money system.

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“The bankers and financiers are badly overplaying their hands, again, and people are starting to catch on to the scam. Real wealth is tangible things produced with tangible effort. Loans made out of thin-air ‘money’ require no effort and are entirely ephemeral. But if those loans are used to acquire real ownership of real assets, then something has been exchanged for nothing and one party is getting screwed.”Chris Martenson

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This headline in The Washington Post  edition of May 20, 2015, caught our eye: “Five big banks agree to pay more than $5 billion to settle regulatory charges.” That sounded like a reasonably large fine to us…until one critic described it as “a slap on the wrist”. When you consider the monies involved, that critic is probably right.

Excerpts from that article follow:

“Five of the world’s largest banks have agreed to pay more than $5 billion in fines to settle charges made by regulatory agencies and the Justice Department that the banks had acted in concert to manipulate international interest and foreign currency exchange rates.

“Attorney General Loretta E. Lynch said the banks had engaged in ‘brazenly illegal behavior . . . on a near-daily basis.’ She added that the deal showed that the government ‘intends to vigorously prosecute all those who tilt the economic system in their favor (and) who subvert our marketplaces’.”

The article continues, “The scale of the price-fixing scandal is hard to grasp, yet it touched, imperceptibly, almost every company and individual in the financial markets. By tweaking global benchmarks used to set foreign exchange and interest rates for a staggering number of transactions a day, the banks — over several years — bilked billions of dollars of extra profits by altering rates in their favor.

“Critics complained that the Justice Department had failed to prosecute any additional individuals… The fines, however, are among the largest ever. Barclays will pay $2.4 billion and fire eight employees who violated New York banking law for attempting to manipulate spot foreign exchange markets, in which $500 billion worth of dollars and euros are traded every day — five times as much as on all U.S. stock markets combined…

“Dennis Kelleher, president of Better Markets, a non-profit group, said that the Justice Department had not done enough, saying ‘it talks tough, but winks at Wall Street’s too-big-to-fail banks’ criminal conduct, structuring sweetheart deals to minimize the impact on the criminals.’ Kelleher said the fines alone wouldn’t deter future criminal acts and that the Justice Department should punish bank executives and their supervisors for bad behavior. ‘Banks don’t commit crimes, bankers do,’ he said”.

File:Exchange Money Conversion to Foreign Currency.jpg

We gotta ask…What value do currencies really have?

“Banking is changing, slowly, but its culture is still corrupt.” That’s according to a headline in The Guardian  newspaper’s edition of November 16, 2014.

In the article beneath that revealing headline, Guardian  columnist Will Hutton says, “Another week, another financial scandal. Six global banks, including RBS and HSBC, were fined £2.6bn last week for rigging the foreign exchange markets. Since 2008, total fines levied in Europe and the US for banking crimes and misdemeanours now top £100bn, with banks making provision for a further £60bn. British banks alone have set aside an estimated £30bn for fines, provisions and litigation costs.”

Hutton asks, “What has gone wrong with Western finance?”

We are asking the same question.

Hutton continues, “The systemic ripping off of customers continued after the financial crisis to constitute what is now the biggest-ever global corporate scandal. Banks worldwide duped clients into buying products that were either not needed or provided no purpose. Worse, they organised financial markets whose purpose was to serve their own interests rather than those they purported to serve. It has proved a hard habit to break.

“British banks selling payment protection insurance (PPI) products on an industrial scale were doing what a street vendor in a bazaar might try. It shouldn’t have happened but it’s a perennial temptation. Finance is more exposed to this sort of risk, because customers are more credulous about financial products; and also because regulators have allowed banks to book the profits from products they sell on the moment of sale rather than over their life”.

Hutton concludes, “And yet reading the chatroom banter, with its echoes of the banter over mis-selling PPI, rigging interest rates or derivatives, offers a window into a very degraded culture. Making money from money, with the clients’ interest last, is too dominant an element in the culture of investment bankers. Companies are seen by too many people, notably shareholders, as just instruments for self-enrichment”.

But honestly, what can we expect from banksters when all they usually receive is a “slap on the wrist” from lawmakers whenever they get caught doing wrong?

____________________________________

“We know now that Government by organized money is just as dangerous as Government by organized mob.”Franklin D. Roosevelt

____________________________________

You have been reading an excerpt from INTERNATIONAL BANKSTER$. (To be continued).

This book is available exclusively via Amazon: http://www.amazon.com/INTERNATIONAL-BANKSTER-Restructuring-Capitalism-Underground-ebook/dp/B015QN5RTY/  

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You don’t need to be a financial wizard to know that corruption is alive and well inside the global finance sector. On a daily basis we are bombarded with mainstream news headlines confirming exactly that – the corruption rumors swirling about the European Union (EU) and the escalating Greek financial crisis being a case in point.

We explore these themes in our new release book INTERNATIONAL BANKSTER$: The Global Banking Elite Exposed and the Case for Restructuring Capitalism.

An excerpt from the book follows:

Banks and bankers, of course, are at the very apex of the finance sector. So let’s take a closer look at banking in the 21st Century.

Surprisingly, some of the most perceptive insights into today’s banking system and the problems that pervade it are to be found within alternative media. It turns out there’s a number of former bankers and money men (and women) to be found within the ranks of the citizen journos, or lay journalists, who ‘man’ these alternative media sites.

One of the best summaries of corruption of the banking system, in our opinion, is to be found on the appropriately named TheAlternativeMedia.com  site. On that site, one Mitchell Cagle writes:

“Banks for decades have been the central source of where we save, manage and deposit our money. Many people do not know what actually goes on when your money is deposited. The bank uses your money to invest then gives you a fraction of what they make in interest. Sometimes that interest can actually end up being nothing due to the “fees” they actually charge that are excessive and fraudulent in most cases.

“Lately, banks have increased these fees some 54% resulting in profits of 34 billion dollars per year. It becomes increasing(ly) difficult to balance a checkbook anymore because of these “hidden fees”. If you have a savings account, you are also being ripped off with monthly fees just for having the privilege”.

Cagle lists the following as “examples of how we are being ‘feed’ to death by the banks:

“Banks engage in abusive practices that maximize overdraft fee revenue. The most common triggers of these fees are small debit card transactions that could easily be denied for NO fee.

“They charge exorbitant fees that bear NO relationship to the cost of covering an overdraft.

“They charge excessive numbers of overdraft fees over the course of a day, month or year.

“Automatically enrol customers in the most expensive overdraft protection possible.

“Monthly fees from nine dollars to thirty dollars for checking and savings accounts that used to be FREE.

“They push customers to use debit cards because it cost them LESS to process but GOUGE retailers and customers because of the monopoly setup of the payment system”.

But of course hidden fees are minor tools, or strategies, compared to other tricks of the trade employed by banksters.

 

A sea of never-ending debt

For a more ‘qualified’ insight into the money system, money markets and banking, you can’t go past Ellen Brown’s bestseller Web of Debt. An attorney, Ms Brown is founder of America’s Public Banking Institute. She’s also a harsh critic of what she describes as the money system.

Web of Debt’s blurb reads:

“Our money system is not what we have been led to believe. The creation of money has been “privatized,” or taken over by private money lenders. Thomas Jefferson called them ‘bold and bankrupt adventurers just pretending to have money.’ Except for coins, all of our money is now created as loans advanced by private banking institutions — including the privately-owned Federal Reserve. Banks create the principal but not the interest to service their loans. To find the interest, new loans must continually be taken out, expanding the money supply, inflating prices — and robbing you of the value of your money.

“Not only is virtually the entire money supply created privately by banks, but a mere handful of very big banks is responsible for a massive investment scheme known as ‘derivatives,’ which now tallies in at hundreds of trillions of dollars. The banking system has been contrived so that these big banks always get bailed out by the taxpayers from their risky ventures, but the scheme has reached its mathematical limits. There isn’t enough money in the entire global economy to bail out the banks from a massive derivatives default today”.

Even if Ms Brown is only partially right in that assessment, it still means there is a massive monetary predicament looming.

 

“The bankers and financiers are badly overplaying their hands, again, and people are starting to catch on to the scam. Real wealth is tangible things produced with tangible effort. Loans made out of thin-air ‘money’ require no effort and are entirely ephemeral. But if those loans are used to acquire real ownership of real assets, then something has been exchanged for nothing and one party is getting screwed.” –Chris Martenson

 

You have been reading an excerpt from INTERNATIONAL BANKSTER$. (To be continued).

INTERNATIONAL BANKSTER$: The Global Banking Elite Exposed and the Case for Restructuring Capitalism (The Underground Knowledge Series Book 5)

This book is available exclusively via Amazon: http://www.amazon.com/INTERNATIONAL-BANKSTER-Restructuring-Capitalism-Underground-ebook/dp/B015QN5RTY/  

 

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There’s a growing awareness in the general population of large-scale financial corruption by the global elite, or the 1%, if you will. This motivated us to write about it — INTERNATIONAL BANKSTER$, book five in The Underground Knowledge Series, has just been released on Amazon.

International Banksters cover

The Introduction from this book follows:

Since the Global Financial Crisis of 2007-2008, many people around the world have been questioning whether there are certain figures or groups manipulating financial markets behind the scenes.

This speculation intensified with the ensuing government bailouts of privately owned banking institutions ahead of the millions of citizens facing bankruptcy.

As a result, many in the West now regularly second-guess their governments and assess any “financial relief packages” or “economic stimulus plans” with a high degree of suspicion and cynicism.

Occupy Wall Street protestors show what they think of a corrupt economic system.

What certain corrupt politicians and so-called business leaders may have overlooked is that the public are not stupid, and what the average person lacks in specific knowledge of financial markets they make up for in spades with street smarts and life experience. That and the masses have finally caught on to what has been going on for decades, if not centuries, with the money men of the world.

There’s a growing awareness in the general population of large-scale financial corruption by the global elite, or the 1%, if you will.

Surveys have also shown that a big percentage of the public feel they’re being manipulated by corporations, banks, international interests and the media as well as by politicians who appear to have less respect for voters than ever before.

It’s almost as if the public sense there must exist within government little-known powerbrokers who are not for the people, but actually against them. Powerbrokers who are essentially thieves operating in the shadows and getting richer and richer at the expense of the average citizen.

Let’s face it, it’s a really perverse world where we have almost unlimited military expenditure to finance wars, where our governments readily bail out privately-owned banks with multi-trillion dollar relief packages, and yet politicians tell us there is not enough money to cover the measly costs of our own citizens’ basic healthcare, food, education and shelter.

As to the question of who is responsible for this gigantic financial inequity, the prime suspects are the banking elite who are clearly some of the most powerful and influential people on the planet. They shape the modern world far more than politicians do in our opinion. After all, money can buy administrations. Some would even argue money can buy elections as well.

As a result of the public waking up to these sophisticated undercurrents beneath the surface of almost every major financial fraud, bankers are now held in about as high regard as criminal defence lawyers, used-car salesmen, debt collectors, arms traders and even drug traffickers.

We trust all this justifies our usage of the word bankster to describe throughout this book the morally questionable banking profession. Bankster, by the way, is a portmanteau or blend word derived from combining “banker” and “gangster”. Its plural form, “banksters,” refers to the commonly acknowledged predatory element operating within the financial sector.

We should point out, however, that whenever we use the term bankster it always denotes a high-level banker holding a senior position in the likes of major Wall Street banks, the Vatican Bank, the US Federal Reserve or the World Bank. So rest assured, the bank manager at your local branch is not (usually) a “bankster” and is unlikely to have been associated with any of the explosive financial crimes mentioned in this book.

This book is divided into two sections. Part One outlines the problems we’ve identified in banking and finance, while Part Two proposes possible solutions.

The first section is necessary because in order to consider solutions the problems must first be identified and dissected. Many books in this “exposing corruptions” genre offer no solutions to the problems; we hope you will agree that INTERNATIONAL BANKSTER$ is not one of those.

In Part One, titled The Financial Overlords, we cover many of the major financial issues the world is enduring right now. Subjects include: the secret world of “black money” and the elite banking dynasties; the central banking system and the true nature of the US Federal Reserve; the less than holy financial activities of the Vatican Bank; the IMF and World Bank’s sometimes less-than-charitable dealings with the Third World; the austerity measures currently being inflicted on vulnerable nations like Greece; as well as the theory that the world’s money supply is essentially being created out of thin air.

In Part Two, titled Potential Solutions, we propose ideas for creating a fairer economic system. These ideas include: publicly owned banks; utilizing certain aspects of Islamic banking which may be compatible with Western banking systems; exploring whether capitalism and socialism can actually work in tandem; arguing the case to maintain but restructure capitalism; and predicting how cybermoney, or cryptocurrencies, will influence the world economy in the next few years.

We view the subjects covered in this book as being monetary issues on the surface only. In reality, they are humanitarian issues.

There’s more than enough money to feed these starving kids…So why are they starving?

Starving the masses of financial opportunities, sinking them in debt and cheating them out of various services their taxes should pay for, are among the greatest sins those in power can commit. These sins result in widespread poverty, unemployment, increased crime rates, homelessness, drug addiction, overcrowded prisons and a whole host of other social problems.

We hope this book will contribute to the growing awareness in the mass populace that there is, contrary to what the Establishment tells us, enough wealth in the world to fix most of the biggest challenges our planet is currently facing.

Product Details

You have been reading an excerpt from INTERNATIONAL BANKSTER$. To read more go to Amazon: http://www.amazon.com/INTERNATIONAL-BANKSTER-Restructuring-Capitalism-Underground-ebook/dp/B015QN5RTY/

 

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INTERNATIONAL BANKSTER$: The Global Banking Elite Exposed and the Case for Restructuring Capitalism (book five in our Underground Knowledge Series) is scheduled for a September/October release as a Kindle ebook on Amazon.

International Banksters cover

Book #5 in series.

The other books in The Underground Knowledge Series  (in order of release) are:

Product Details

http://www.amazon.com/GENIUS-INTELLIGENCE-Techniques-Technologies-Underground-ebook/dp/B00QXQQWXO/

Product Details

http://www.amazon.com/ANTIGRAVITY-PROPULSION-Technologies-Underground-Knowledge-ebook/dp/B00RSF22SI/

Product Details

http://www.amazon.com/MEDICAL-INDUSTRIAL-COMPLEX-Suppressed-Underground-ebook/dp/B00Y8Y3TUM/

Product Details

http://www.amazon.com/Catcher-Rye-Enigma-Coincidental-Underground-ebook/dp/B00YVROKZ4/

More books coming soon! Watch this space…

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Do you believe capitalism should be restructured, replaced by another economic system or left exactly as is? That’s the question we put to our Underground Knowledge group members in our latest poll on Goodreads.com; we also address that question in our upcoming INTERNATIONAL BANKSTER$: The Global Banking Elite Exposed and the Case for Restructuring Capitalism (book five in our Underground Knowledge Series).

INTERNATIONAL BANKSTER$: The Global Banking Elite Exposed and the Case for Restructuring Capitalism (The Underground Knowledge Series, #5)

Interim poll results show that 53% of respondents believe capitalism should be restructured or reformed; 27% say it should be replaced by another system; 10% insist it should be left exactly as is; and the balance are unsure.

Poll respondents’ comments make for interesting reading. Sample abridged comments (names withheld) follow: 

I’m essentially a Capitalist as I believe (however flawed) Capitalism is the only economic system ever devised that rewards entrepreneurial and/or hard-working individuals. So I’d never vote for Socialism or communism. However, I also think unregulated Capitalism has become one of the biggest problems facing society right now. It is allowing big business (including multinational monopoly-style companies) too much power and the average 9-5 worker is getting screwed.

Communism need not be the only alternative to Capitalism. A system should be devised which incorporates the good from both.

There is such abuse of capitalism… When money is the only objective at any cost you have a problem. The proposed TPP trade agreement is inherently wrong, again giving more power to the corporations. If you look at the 1888 introduction to Edward Bellamy’s Looking Backward you will see the workers still in the same position today. There must be social, economic, governmental and political change. Accountability must be instituted for corporations, none of which, including banks are too big to fail. War profiteering must end. Endless war must end. No one needs excessive billions of dollars at the expense of everyone else. Economic morality must be sadly legislated.

Capitalism should be reformed, so freedom can be secure for all, and finally the ones who were once left behind can be reached.

I think what critics are currently calling Capitalism and the free market are really corporatocracy and cronyism or “unregulated Capitalism” which is a different thing from what was originally in place in the US and much of the Western world. But whatever the case, I do think the wide scale economic or financial corruption by the elites is leading to increasing numbers becoming homeless, losing their homes, going bankrupt, not being able to pay their medical bills, etc, etc.

The greatest flaw of capitalism is the ability of corporate leaders to manipulate the political system to their benefit and to the detriment of everyone else. Making behavior like this a criminal offence, and enforcing the law, would go a long way toward reforming capitalism. To paraphrase Churchill, capitalism is the worst economic system there is, except for all the others.

Capitalism’s turned us into competitive human beings (which I don’t believe is good)and means we live in a system that benefits the rich and f…. the poor. Whether it’s modified or replaced, I don’t much care, as long as we can find a system that helps provide the necessities of life for everyone first. Then you can buy your Gucci dresses and blood diamonds.

Society must find a wise way to give food, shelter, education and health care to everyone. The change from capitalism to another system, needs first a big change in the way the majority thinks.

Poverty could be solved instantly if we wanted it to be- which would reduce crime, benefit the economy and be better for all concerned (oh, other than that current 1% at the top, but they’ve had their turn). I think it’s important we look beyond such things in the way that if someone says they’re anti-capitalist it must mean they’re a socialist, for instance. We base our understanding on the past and not with common sense in the present. . Feed, house, give water and energy to everyone and the world would soon change for the better. THEN you can start trying to attain whatever else your heart desires. Capitalism, in its current form, certainly doesn’t aid any of that.

Surely the genius and greatest evil of capitalism is that we all become both product and customer, consumer and consumed?

The problem cannot be blamed on shareholders, nor marketers. We must take self-responsibility.

 

To view all the comments, or better still to have YOUR say, go to: https://www.goodreads.com/poll/list/142309-underground-knowledge—a-discussion-group?type=group

Poll ends June 18 PST.

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Our Underground Knowledge discussion group is aimed at those with an interest in the world we live in and a desire to learn or to uncover “underground knowledge” on important issues of our times.

Everyone’s welcome to join! All you need is an enquiring mind. Our members include scientists, social activists, teachers, historians, authors, military and intelligence agency personnel, bankers, housewives, whistleblowers, students, former police officers, journalists, readers and many more.

Visit the group at: https://www.goodreads.com/group/show/142309-underground-knowledge—a-discussion-group

 

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