Saturday, November 6, 2010
The reason the system doesn't work is obvious. You are voting on the posturing puppets in the political class and not the ruling and ownership class. If you want fairness and change you have to be able to vote on whether to keep the Federal Reserve banking cartel, hedge funds banks, a million secret LLC's and transnational banks and corporations and all the other bond market participants who really call the shots. But they are beyond reach and unaccountable. So again, why is it you think you should vote? We are beyond the point where voting has efficacy. The capital controlling ruling class holds all the cards. They made some stupid greedy bets which could have cost them their beloved capital and in an act of self preservation shifted the losses to the slobs down the hill in the slave quarters. This process is by no means confined to the United States. An example of their current scam mediated by the IMF, World Bank, the ECB and the other banking cartels is to impose austerity on the slaves. Mr Blankfein, over at your local Irish branch of Goldman Sachs is now doing doing his covert best to make those hapless potato pickers pay Mr Legree's bondholders in the Anglo Irish Bank taken over by the Irish Government. What is interesting and not surprising is that the Head of Goldman Sachs in Europe is Peter Sutherland who has been meeting behind closed doors with Brian Lenahan, the current finance minister of Ireland. Peter Sutherland of GS was(surprise surprise) the former recent Attorney General of Ireland.!! What these Legrees are doing exactly mirrors what happened in the US under the inspired leadership of Hank Paulson and the whole rogues gallery who preceded and followed him. Their goal was and is to force the responsibility of their bad bets onto the backs of the laboring slaves. Ditto in Greece, Portugal and who knows how many other countries at Europe's periphery. The slaveholders made the mistakes and the slaves must pay. What the Simon Legrees have not counted on is a good old fashioned slave rebellion and my bet is that it could easily happen in Greece or Ireland. While the capital holding class is the defacto ruling class, in fact they have no authority over the slaves. The US dominated IMF has no authority over slaves in Iceland, Ireland, or Greece and if the slaves figure that out, we could have a real game changer. The capital owning giant squid are sitting on vast bags of debt they have foisted on the world assuming that the hapless slaves will just keep picking cotton ad infinitum paying off bad debts.
The Industrial West is staring into the abyss of perhaps the greatest depression it has ever seen and the debt has not been repudiated and until the debt is shifted to the shoulders of the bondholders, and the wealthy capital owning class who by any standard of fairness should be shouldering the burden, there will be no end to the looming deflationary depression. So far this battle has been waged in secret councils and banking , corporate and legislative conference rooms far from the prying eyes and ears of the slaves. The world now awaits the arrival of a modern day Spartacus.