Posts tagged Wall Street
Published on Oct 22, 2012 by RapsAlive
Alex Jones remembers American icon Russell Means, a valuable member of society and the freedom movement. Means sadly passed away on October 22nd after a battle with esophegal cancer.
Means joined the American Indian Movement in 1968, and was involved in numerous protests. Unlike the majority of AIM activists, Means was a libertarian. He came second in the 1987 Libertarian Nomination process, to none other than Ron Paul. In January 2012, Means endorsed Ron Paul’s 2012 presidential campaign.
Means is well known for his move to declare the Republic of Lakota a soverign nation, occupying the Mayflower II, and engaging in a standoff against FBI at Wounded Knee.
Thank you for the great work you have done Russell, you will be missed.
Please find below the documentary mentioned: Russell Means: Welcome To The Reservation
Uploaded by THElNFOWARRlOR on Jan 19, 2011
The United States is one big reservation, and we are all in it. So says Russell Means, legendary actor, political activist and leader for the American Indian Movement. Means led the 1972 seizure of the Bureau of Indian Affairs headquarters in Washington, D.C., and in 1973 led a standoff at Wounded Knee, South Dakota, on the Pine Ridge Indian Reservation, a response to the massacre of at least 150 Lakotah men, women, and children by the U.S. Seventh Cavalry at a camp near Wounded Knee Creek.
American Indian Russell Means gives an eye-opening 90 minute interview in which he explains how Native Americans and Americans in general are all imprisoned within one huge reservation. Means is a leader for the Republic of Lakotah, a movement that has declared its independence from the United States and refused to recognize the authority of presidents or governments, withdrawing from treaties it made with the federal government and defining its borders which cover thousands of square miles in North Dakota, South Dakota, Nebraska, Wyoming, and Montana.
Yet again, the Congress, courts, executive branch and the establishment media work together to protect the nation’s most powerful actors
So pervasive and reliable is the rule of elite immunity – even in the face of the most egregious crimes – that one finds extreme examples on a weekly basis. Six weeks ago, the Obama justice department forever precluded the possibility of criminal accountability for Bush torturers by refusing to bring charges in the only two remaining torture cases, ones involving the deaths of the detainee-victims by torture.
The Obama campaign is now running a new campaign ad against Mitt Romney that rails against a litany of Wall Street “criminals” and “gluttons of greed”, but as David Dayen astutely notes, those examples were all imprisoned during the Bush era because the Obama administration has prosecuted no significant Wall Street executives for the 2008 financial collapseand thus have none of their own examples to highlight:
“So the Obama campaign could not fill a list of three Wall Street criminals that the Obama Justice Department actually sent to jail. Heck, they couldn’t fill a list of one!
“This is despite Eric Holder telling students at Columbia University in February of this year that his Justice Department’s record of success on fighting financial fraud crimes ‘has been nothing less than historic.’ But not historic enough that his boss could point to, well, one Wall Street criminal behind bars as a result of DoJ’s actions.
That’s painfully telling. Nobody from Bank of America or Wells Fargo or Citigroup or JPMorgan Chase or Goldman Sachs or Bear Stearns or Morgan Stanley or Merrill Lynch or even Countrywide or Ameriquest was available to stand in as a ‘glutton of greed’ in this advertisement. Literally no major figure responsible for the financial crisis has gone to jail. So the campaign has to use two CEOs from a decade-old accounting scandal, and a garden-variety Ponzi schemer.”
And now, the US supreme court just consecrated one of the most corrupt acts of the US government over the past decade: its vesting of retroactive legal immunity in the nation’s telecom giants after they had been caught red-handed violating multiple US eavesdropping laws. Just as the Obama DOJ forever precluded any legal accountability for Bush-era torturers, the supreme court on Tuesday forever precluded any legal accountability for AT&T, Verizon, Sprint and other telecoms for their crucial participation in the illegal Bush NSA warrantless eavesdropping program (the Obama DOJ, needless to say, supported the position of the telecoms).
When the New York Times revealed on 16 December 2005 that the Bush administration was spying on the telephone calls and emails of American citizens without the warrants required by the criminal law, it exposed lawbreaking not only by government officials but also by the nation’s largest telecoms. Multiple laws were in place at the time imposing both criminal and civil liability on telecoms for enabling government spying on the communications of their customers without warrants or other legal authority, and that is exactly what these telecoms did. One former AT&T employee, Mark Klein, publicly described how AT&T had even built a separate room with no purpose but to permit the National Security Agency unfettered access to all of its customers’ communications.
Unlike Romney and Obama, Ron Paul is neither a repeater of Republican Party platitudes about “America’s greatness” nor a mumbler of silly socialist platitudes that sound like they were paraphrased directly from The Communist Manifesto (“From each according to his ability, to each according to his needs”). Ron Paul is a seriously learned man when it comes to economics and political philosophy. He is very familiar with the writings of all the classical liberals, especially Austrian School economists such as Ludwig von Mises, Henry Hazlitt, F.A. Hayek, and Murray Rothbard. As such, he must know that Rothbard considered John C. Calhoun, the nineteenth-century U.S. Senator, Secretary of War, and Vice President of the United States to have been one of America’s greatest political philosophers as well.
Because of his educational background, Ron Paul would have articulated Romney’s truthful comment about how the moochers and parasites of American society (“the 47%”) are on the verge of overwhelming the producers politically. He would not have gotten involved in the mindless media “debate” over whether it is 47 percent or 49 percent of American adults who pay no income taxes but receive benefits from government. He likely would have quoted or paraphrased Rothbard’s favorite American political philosopher, Calhoun, from his magisterial 1850 Disquisition on Government instead.
“When once formed,” Calhoun wrote, a political community “will be divided into two great parties – a major and minor – between which there will be incessant struggles on the one side to retain, and on the other to obtain the majority . . . . ” Consequently, “some portion of the community must pay in taxes more than it receives back in disbursements; while another receives in disbursements more than it pays in taxes.”
The community is thus divided into “two great classes – one consisting of those who . . . pay the taxes . . . and the other, of those who are the recipients of their proceeds.” This will in turn lead to “one class or portion of the community [being] elevated to wealth and power, and the other depressed to abject poverty and dependence, simply by the fiscal action of the government.”
Former Reagan official, David Stockman was interviewed on CNBC yesterday and stated that Ron Paul is the only one right about the Fed and the military industrial complex–not Mitt Romney…
Ron Paul is the only one who is right about the Fed, and the Fed is the heart of the problem. They have destroyed the capital markets and the money markets; interest rates mean nothing; everything is trading off the Fed and Wall Street isn’t even home – as it’s now a bunch of computers trading word-clouds emitted by this central banker…The Fed, and the lunatics that run it, are telling the whole world untruths about the cost of money and the price of risk.
In 2007, the Sentinel Management Group (SMG) collapsed, leaving many customer segregated funds lost after they had been used as collateral. After a plethora of lawsuits and creditor claims, a decision earlier this month in the 7th Circuit Court placed the banking cartels ahead of customer claims for funds returned. Essentially, the Bank of New York Mellon (BNYM) sued to be first in line for return on stolen customer account monies – and won the right by the US court system.
In the mainstream media (MSM), the SMG collapse and subsequent ruling in favor of BNYM was touted as a difficulty “for customers to recoup money lost”.
SMG, a Chicago-based futures broker, had stolen more than $500 million in segregated customer funds to use as collateral on a loan to BNYM for in-house proprietary trading operations. Their books were audited by the National Futures Association (NFA), however the NFA admitted that they could not understand the convoluted mess they were provided by SMG to sign off on. And yet they did; and approved the audit.
BNYM sued SMG to re-coup any monies owed to them. However, these monies were customer segregated funds that SMG stole and re-hypothecated.
In federal court, John D. Tinder, US Circuit Court Judge ruled “that Sentinel failed to keep client funds properly segregated is not, on its own, sufficient to rule as a matter of law that Sentinel acted ‘with actual intent to hinder, delay, or defraud’ its customers.”
This means that once a banking customer deposits their money into an account with a bank, the funds become property of the bank. The customer, at the point of deposit, relinquishes all rights to that money regardless of any laws in place, legal assurances, claims or guarantees; and this extends from investments to private checking accounts.
The biggest banks in the US have been given advisement by US regulators that they must make plans to stave off a complete financial collapse without relying on the US government. Bank of America, Goldman Sachs and other technocrats have secretly crafted worst-case scenarios in which they can continue to thrive during a full-blown domestic monetary crisis.
The Federal Reserve and the US Office of the Comptroller of the Currency (OCC) named Citigroup Inc., Morgan Stanley and JPMorgan Chase & Co. as well as others to devise “recovery plans” in 2010. Banks were directed to have schemes to remain afloat by selling off assets, finding alternative sources of funding, reducing risky measures that make a quick buck. These strategies were to be perfected with “no assumption of extraordinary support from the public sector.”
Resolution plans , required under the 2010 Dodd-Frank financial reform law describe how to liquidate banking assets without causing further damage to a failing financial system. By selling “non-core assets” without upsetting shareholders while protecting the monetary system, taxpayers and creditors is the work of the mega-banks who have contributed solely to the destruction of the global financial markets.
On the Sunday, August 12 edition of Infowars Live, Alex hosts Max Keiser discussing the ravaged state of the U.S. economy and fragility of markets as published in a recent Fox News article The Coming Economic Collapse.
Welcome to Capital Account. After its yearlong investigation, the Justice Department said that it will not bring charges against Goldman Sachs or any of its employees for financial fraud related to the mortgage crisis. Is this justice or, as Gerald Celente often says, is this “just us” big bankers getting away with whatever we want?
Posted by Dominique de Kevelioc de Bailleul on Jul 27, 2012
Gerald Celente fans won’t want to miss Celente’s first interview after getting word that the next head of the Bank of England could be yet another Goldman Sachs boy.
In the spirit of Celente’s famous saying, “You can’t make this stuff up,” Bloomberg News released a trial-balloon article to assess public opinion of UK Prime Minister David Cameron’s potential choice of another former-Goldman Sachs boy, Mark Carney, to become the next governor of the Bank of England to replace Mervin King at the end of King’s term set to expire in 11 months.
“London is losing so much trust as the global financial center that Prime Minister David Cameron may need to consider an unprecedented choice for Bank of England governor: Mark Carney, the Canadian who polices the world’s financial system and has no ties to the bailouts or rigged markets tainting Labour and Conservative governments alike,” Bloomberg begins its article, titled, Carney Leading Bank Of England Seen As Scandal Remedy.
In keeping with his reputation as a top trends forecaster, Celente previously warned in 2011 of the Goldman Sachs takeover of the global financial system. In November of that year following the news that he was ripped off by MF Global the preceding month, Celente spoke with FinancialSense Newshour’s James Puplava about what he pieced together regarding the omnipresent Wall Street firm.
By Joseph Beck
The recent Greek elections resulted in the Hellenic Republic staying in the Euro zone, for now. According to the New Democracy leader Antonis Samaras, the people of Greece chose “policies that will bring jobs, growth, justice and security.” Of course, we all hope that to be the case. The debt-suicide epidemic and the abandonment of children on the street by their families is hard for anyone to watch. Even Greece’s historic archaeological sites are being opened up to advertisers and other ventures due to the financial crisis. We are witnessing a collapse that we can only hope doesn’t replicate itself here in America.
When crises occur, the reaction is vitally important. What should the government do? Will the new election make a difference? Fellow PolicyMic Pundit Barry Lyndon lays out the case for Ron Paul’s favored school of economic thought, the Austrian School—bailouts, inflationary stimulus, and other government interventions only prolong the crisis, making the inevitable burst of the bubble much more severe than it would be if the recession, the correction, was allowed to occur. Something we should also consider: how did Greece get in this situation? It wasn’t the typical government largesse alone; Greece and her people are the victims of financial terrorism. None other than Goldman Sachs, campaign contributor to both Barack Obama and Mitt Romney, not Ron Paul, profited immensely from the debt trap they set for the Greek people.