Tuesday, 21 October 2008
Financial Meltdown / Hegelian Dialectic / The Culprit :
I have just listened to an interview with Noam Chomsky about the financial crisis and he makes a very important point about the cause of it that i have pointed out as well.
It concerns the federal reserve and Alan Greenspan who was head of the Federal Reserve until fairly recently.Alan Greenspan was head of the FED all of the time that this problem was slowly getting bigger and bigger and either no one noticed or no one wanted to notice.
Those who didnt notice didnt know any better and thought it would go on and on.
I was having conversations with my Dad 3 years ago about the coming house of cards that was waiting to collapse .
Those who didnt want to notice were the banks and financial institutions who were to a certain extent controlled by the liberalisation of the financial shytstem and market forces.Every bank will do what the next bank is doing because that is the nature of people.To do what the others do.To not do what the others do is potentially a risk and that risk multiplies expotentially when the risk involves money.The fear of potentially losing out is a greater risk to the bankers than projecting ahead and seeing a catastrophe waiting to happen.
Greed overrides logic.
Logic goes out of the window.
Chomsky talks about democratising the financial system and allowing it to be controlled at least in part by the public .
This already happens partly because financial institutions lobby politicians to pass or abolish legislation as in the case of Fannie and Freddie.
The evidence for this is undeniable.
Their is no actual public intervention or participation in the financial sector because they cannot afford to lobby politicians generally speaking.Only business has any control or influence or participation in lobbying politicians especially when it concerns finance.
The system is corrupt.
Its idiotic to think this scenario is just the result of a deregulated financial system and it will fix itself and we will live happily ever after same as before.
Perhaps this scenario is the result of a series of unfortunate events but the Machivellian aspect creeps in and becomes as far as i am concerned the real reason behind this scenario that is unfolding.
The Machivellian aspect is our old friend the Hegelian Dialectic and who has been the controlling current events by creating the problem that they themselves stand to benefit the most out of it.
Those who have created the problem are those who own and control the FED.
The FED is more powerful than politicians.
The FED has influence and control over the financial markets and what the FED wants the FED gets.
The FED and Alan Greenspan and the rest of them who own it who belong to the club of individuals who created this problem.
The scenario plays itself out exactly as predicted resulting in the endgame that they required.
The scenario they want is to take control and ownership of the financial institutions in the form of bailouts.
Bailouts should have been called Buyouts.Bailouts as a term of description is misleading to the uninformed.Bailouts imply that the government is saving the banks by giving/loaning them money.In a sense this is true but its the fact that the Government /Fed now owns a large percentage of those banks.They are no longer independently owned.
In the crash/depression of 1929 there were over 300 independently owned banks in New York.The banks crashed and they either were bankrupted or were seized by the government /FED.
This happens every time there is a depression.
All economic cycles are cycles that only end in one thing.Depressions and asset seizing which channel wealth into the hands of the few.
Today in the US virtually all of the banks have received funding from the FED.This means that those banks are now under direct control of those banks.The FED now owns all of those banks the percentage of which depends on the amount of dollars loaned.The FED DOES NOT just lend them the money in the normal sense .That being the banks pay back the loan and thats it.They are now owned by the FED.
Think about it.
A tiny clique of criminal bankers own the entire financial system plus the institutions that have been bailed out.
This means that .0000001% or some ridiculously tiny amount of individuals own everything and control the planets financial system.By owning the FED and controlling the flow of mickey mouse Greenbacks they have direct control or influence over the economy of the planet as the rest just follow.
The UK follows the US and has its very own credit crunch.
The UK and US financial and banking systems are inextricably linked and have been since the US was founded.
The end result of the played out scenario and the solution to the played out scenario/Hegelian Dialectic is the asset seizing of banks by the FED.
If anyone suggests that Alan Greenspan etc did not forecast this scenario happening and didnt expect it i will laugh at them and tell them to wise up.
Idiots who say this wasnt a conspiracy are saying instead that financial geniuses had no clue.
2 + 2 =4 and nothing else.
Alan Greenspan could have curtailed this scenario 3 - 5 years ago but didnt and its not just as Noam Chomsky suggests that Alan Greenspan believes in the fairy tale happy ending of unregulated banking etc.
I believe it was designed to fail.
"We want less regulation in the financial sector !!"
"We want more regulation in the financial sector !!"
Those who wanted less regulation in the financial sector won partly because of the FED/Alan Greenspan and because of left wing policy and political lobbying on behalf of left wing policy.
We pay for them to seize the banks either by taking money that already exists within the system in the form of taxes OR the FED prints the money for nothing THEN lends it to the government who charge it to the taxpayer.
This could be called Socialism [state ownership/funded by taxpayers] and that would be correct EXCEPT the FED is not a state owned institution. It is a privately owned institution that provides a service to the government.It is independently owned and they are not about to open themselves up to the great share ownership democracy.
Not next week .
Not next year.
So this situation is quite unique as you can appreciate.
I dont think there is a terminology yet created that describes public funding of private enterprise by taxation.
Scam of the century will have to suffice for now.
Plus of course the Globalists/Communitarians get what they want as a global credit crunch needs a globalist solution because the problem is not confined to an individual nation or region and is too large for the US to solve on its own as the problem has spread worldwide form the US and the FED.
Hegelian Dialectic in action.
The FED is a criminal organisation owned and runned by parasites that suck the host body or nation dry .
I wonder if Nobama is going to impose taxes on them and nationalise them ?
Dont think so and like every good little Socialist they know which side their bread is buttered and the super rich never pay taxes under Socialism.
The very rich under Socialism are called party leaders etc.
The audacity and hypocrisy of socialism.
Liberalism is like a virus.
Its highly contagious and easily spread unless you have a natural resistance to it.
The virus spreads and infects huge numbers for a set length of time.
After that the virus starts to become weak and dies leaving behind a decimated population and the uninfected.
The uninfected are left to clear up the mess and rebuild.
11 years of Liberalism has fucked up the UK.
Posted by Peter Wolf at 12:04