Freedom and Liberty is my Character — AtaturkGreat Quotes by Revolutionaries & Writers
1- Private bank bailouts are an inseparable part, a built in feature of capitalism since the foundation of the first central bank in Sweden in the 17th century. In the US private bank bailouts are a fact and a necessity for capitalism since 1792 as the September, 2008 WSJ artic!e clearly shows . The frequency of private bank bailouts by way of Wall Street owned government has increased since the 1980s so as to form one continuous, uninterrupted bank bailout. Citibank bailout during the Latin American crisis in the 1980s, Lehman Brothers in the 1990s (yes, that Lehman which failed in 2008 with a AAA rating) and LTCM are some examples. Remember just like the government bailed out Goldman Sachs through bailing out AIG in 2008, one bank bailout means a complete Wall Street bailout! 2- Private bank bailouts are paid for by the people at large. It is the most effective way to transfer wealth from the people. There are two major tools bankers and their corporate cronies use: INFLATION (money printing) and GOVERNMENT TAXES! A- INDIRECTLY/INFLATION: Since the founding of the FED in 1913 the US dollar lost 99% of its value which means prices rose exponentially. The people's earnings have stagnated especially since the US/WEST got off the gold standart in 1971. The wealth of the people has been transferred to the bankers and corporate class with inflation (price increases). They call inflation a stealth tax but in fact it is much broader than a tax, it affects everyone who use Western currencies. Bankers can print themselves any amount of money with government enforced bank bailouts using Western central banks (FED,ECB,BOJ,BOE) money printing, euphemistically called quantitative easing. B- DIRECTLY/TAXES: Money handouts, tax breaks given by the government to the banker/corporate class. The taxes people pay fund their multimillion dollar salaries, executive golden parachutes - many over 100 million dollars each-, yearly 7 figures bonuses, billions of dollar worth of stocks etc. A few Too Big to Fail Wall Street banks made millions of small businesses and entrepreneurs too small to succeed! Wall Street's economic management created millions of new empty homes and millions of new homeless people at the same time! MY OPENING REMARKS BEFORE THE #EndPrivateBankBailouts DEBATE ON SEPTEMBER 25, 2016 RT if you are around to join #EndPrivateBankBailouts the 1st of 6 debates in 6 weeks. Debate page/Intro here: http://endcapitalism.org/whatcomesaftercapitalism-thewayforward.htm I will make a flood (short remarks) then it will be a community event. Pls RT each others' posts to make good ideas/questions stand out Any relevant,unique tweets,links,book names that you share will be listed permanently on the debate page. You may join the debate using #EndPrivateBankBailouts and I will RT some of your posts including those I do *NOT* agree with! Although general discussions about capitalism may inevitably take place pls try to stay on debate topic Let me introduce myself: Turk, real Ataturkist, activist, engineer... -see more at the bottom of the home page endcapitalism.org There are some major questions that are never asked in the media or by activists or largely coopted main opposition party(ies). This debate is at least 8, probably 200+ years overdue! Bailouts mean bankers stay on top of the economy regardless of their failure (like masters) Not one in the last 30 yrs asked: If Wall Street bankers are the Masters of the Universe, then who are the slaves of the Universe? why should there be any Too Big to Fail PRIVATE business/bank? Why should any society's livelihood depend on a few bankers? What do they produce? Who pays for the private bank bailouts? The people do, by paying higher food prices, rent etc.(inflation) and government taxes! And most people are not aware of this most basic fact: Inflation (higher prices) and hgher taxes r due to ONGOING bank bailouts Western Central banking is mostly about one continuous private bank bailout since at least 1792! Fractional reserve banking (money printing) is related A few Too Big to Fail Wall Street banks made millions of small businesses and entrepreneurs too small to succeed! Almost all Western banks are insolvent and interrelated. Just last week London based German Deutsche bank, Italian Monte Paschi were in the news. Major central banks FED,ECB,BOJ,BOE keep propping up stock markets by "buying" shares and provide continuous bailouts to private banks. If people bail the bankers so they give out loans to the people, why pay trillions to the bankers as middle men? #EndPrivateBankBailouts What is the robbing of a bank compared to the founding of a bank? Bertolt Brecht Before resting my case, I should say that this debate should at least answer two questions (you can raise more and I'll RT) 1- What are your CONCERNS about ending private bank bailouts, if any ? 2- How do we get our message accross? How do we tell more ppl that private bank bailouts cause price/tax increases (wealth transfer) Add any question that YOU may raise during the debate. (mention and I'll RT) #EndPrivateBankBailouts Capitalism is as dead as Adam Smith, famed author of economy novels! Thank you. Mehmet Kurtkaya Post debate: Bailing out bankers and not bailing out other private businesses goes against the equality of men established legally since 1789. THIS WAS THE INVITATION FOR THE !ST DEBATE: AN ONLINE INTERNATIONAL DEBATE TO DISCUSS "THE WAY FORWARD: OUT OF CAPITALISM IN 6 STEPS" After I have tweeted this page, US Green Party member S K C M Curry suggested doing international debates on topics below. We will discuss one topic at a time, as all 6 are major topics. It's hard to coordinate people in different time zones so I set up an arbitrary date: September 25, 2016 Sunday 4PM EST - 11PM IST - 8PM GMT The debates will be done on Twitter with a hashtag. This Sunday #EndPrivateBankBailouts If you tweet me about your site or article on the subject I will link it here. This may provide those unable to join live discussions an opportunity to express their ideas. The only "opinions" I will exclude are Wall Street/Neocon/Neoliberal garbage as their propaganda have blanket media coverage since decades. This is an opportunity to think outside the Matrix of the two sides One Wall Street/London owned party system prevalent in the West.
Socialists, Libertarians, Conservatives, Progressives and others are welcome. |