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Corrupt US Financial System

To say that Barack Obama is an ideologue isn’t going to make national news at this point, that much is a given. Anyone with a pulse and an IQ over 6 has known that since before Obama took office in 2008, and even most liberals not registering any brain activity would have admitted as much once Obama secured his re-election in the 2012 election. It’s also not major news to say that Obama and his administration have been the most corrupt administration in recent memory, or that they subscribe to the philosophy of, “The ends justify the means,” the Constitution be damned…

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With all that said, if recent weeks have shown us anything at all, they have shown us that Hillary Clinton is infinitely more corrupt than Obama, even more of a sociopath, not to mention a stone-cold killer when you consider that FIVE of her political enemies died from very strange and mysterious deaths in the last SIX weeks alone, making the number of dead former Clinton associates totaling 67 people. Coincidences? Hardly! Well, it gets worse…

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Realtruenews.org reports:

Following the conventions, a pattern has emerged from the polling: Donald Trump has taken a commanding lead in all demographics. From the well to poorly educated and even out-performing Romney among women and Hispanics. According polling aggregates the only demographic Hillary is winning is African American single women and White College Males with advanced degrees in Social Sciences.

If that’s the case, then how is Hillary Clinton leading in all the polls considering THIS was the scene at the Democrat National Convention (below) WHILE Hillary was speaking (if you listen you can hear her)?

 

 

ISIS is a Hillary Clinton State Department creation.

Did you know that beyond the fundamantalism of their Wahhabi creed they are a mercenary army? That they are being paid salaries and being armed by our regional allies?

The failed state of Libya – now a breeding ground for ISIS and a jump off point for the influx of war-refugees into the EU – is not a Hillary Clinton/Obama feature?!

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Hillary Clinton Is a Threat to All of Humanity

by James Corbett
grtv.ca
July 24, 2016

Hillary Rodham Clinton is a Wall Street-backed warmonger whose potential election as President of the United States this November poses an existential threat not just to Americans but to all of humanity.

As First Lady and then as Senator, she actively supported the US’ illegal wars of aggression abroad:

BILL CLINTON: “Today, our Armed Forces joined our NATO allies in airstrikes against Serbian forces ,esponsible for the brutality in Kosovo.”

HILLARY CLINTON: “You know I voted for the Iraqi resolution.”

CLINTON: “The President understands this. He’s fully aware that it’s going to take a lot of patience and pain-staking planning and we’re gonna support him!”

CLINTON: “…including thousands of chemical weapons. Large volumes of chemical and biological stocks. A number of missiles and warheads. A major lab equipped to produce Anthrax.”

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She not only admitted the US role in creating Al Qaeda:

CLINTON: “When the Soviet Union invaded Afghanistan, we had this brilliant idea there we were going to come to Pakistan and create a force of Mujahideen, equip them with Stinger missiles and everything else, to go after the Soviets inside Afghanistan.”

But then, despite this admission, as Secretary of State her support of the war on Libya and the jihadis in Syria directly led to the rise of ISIS and the migrant crisis in Europe:

CLINTON: “The transition to democracy in Syria has begun and it’s time for Assad to get out of the way.”

“President Assad is not indispensable and we have absolutely nothing invested in him remaining in power.”

“I think based on definitions of war-criminal and crimes against humanity, there would be an argument to be made that he (Assad) would fit into that category.”

CLINTON: “Libya was a different kind of calculation and we didn’t lose a single person.”

CLINTON: “We came. We saw. He died! (laughter)”

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She was the one who announced the US’ so-called “Asia-Pacific Pivot” that has seen more US forces being placed in the Asia-Pacific as a direct military threat to China:

CLINTON: “…and we look to the Asia-Pacific region, as we have for many decades, as an area where the United States in uniquely positioned to play a major role.”

CLINTON: “The United States is not seeding the Pacific to anyone.”

And she has stated in no uncertain terms that Russia and Iran will be militarily targeted in a Clinton presidency, and that the “nuclear option” is, as always, “on the table”:

CLINTON: “And we will make sure the Iranians and the world understand, that the United States will act decisively if necessary including taking military action.”

“There will have to be consequences for any violation by Iran and that the nuclear option should not at all be taken of the table. That has been my position consistently.”

CLINTON: “And Russia has to support the international community’s efforts sincerely or be held to account.”

CLINTON: “That Russia and China will pay a price. Because they are holding up progress, blockading it. That is no longer tolerable.”

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And unlike her many, many political statements of convenience that are merely a reflection of what is most politically acceptable at the moment:

CHRIS MATTHEWS: Do you think New York State should recognize gay marriage?”

HILLARY CLINTON: “No.”

CHRIS MATTHEWS: “No … OK.”

CLINTON: “I support marriage for lesbian and gay couples.”

CLINTON: “I represented Wall Street as a Senator from New York and I went to Wall Street and in December of 2007 before the big crash that we had. And I basically said ‘cut it out, quit foreclosing on homes. Quit engaging in these kinds of speculative behaviors.’”

“Now who’s exactly the blame for the housing crisis? Now I think there’s plenty of blame to go around. Home-buyers who paid extra fees to avoid documenting their income, should of known that they were getting in over their heads.”

“I take a back-seat to no one when you look at my record on standing up and fighting for progressive values.”

“I get accused of being kind of moderate and center. I plead guilty.”

HILLARY CLINTON: “We went through a thorough process to identify all of my work-related emails.”

JAMES COMEY: “Lawyers doing the sorting for Secretary Clinton in 2014 did not individually read the content of all of her emails.”

CLINTON: “So that the emails were immediately captured and preserved.”

COMEY: “There was no archiving at all of her emails.”

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…we can be assured that these threats of potential nuclear world war by Clinton are not idle threats. A future Clinton president would be assured of a like mind in the new Prime Minister in the UK, who has stated in no uncertain terms that she is willing to launch a nuclear strike that would kill hundreds of thousands:

GEORGE KEREVAN: “Let me congratulate the Prime Minster on her new rule, but can we cut to the chase? Is she personally prepared to authorize a nuclear-strike that could kill 100,000 innocent men, women and children?”

THERESA MAY: “Yes. And I have to say to the honourable gentleman, the whole point of a deterrent is that our enemies need to know that we would be prepared to use it.”

Hillary Clinton is a neocon, a war hawk, a liar, an unindicted criminal and a Wall Street puppet. Why is it, then, that those on the so-called “progressive” left who would be warning against her if she had an “R” next to her name are instead lecturing other leftists that it is now their duty to fall in line and help her get elected?

NOAM CHOMSKY: “If Clinton is nominated and it comes to a choice between Clinton and Trump, in a swing state, a state where it’s going to matter which way you vote, I would vote against Trump, and by elementary arithmetic, that means you hold your nose and you vote Democrat. I don’t think there’s any other rational choice. Abstaining from voting or, say, voting for, say, a candidate you prefer, a minority candidate, just amounts to a vote for Donald Trump, which I think is a devastating prospect, for reasons I’ve already mentioned.”

JUAN GONZALES: “We in SDS refused to vote. We wouldn’t support McCarthy. We wouldn’t support Humphrey. Our slogan was “Vote with your feet, vote in the street.” I’m—I’m here to tell you that the slogan was right, the tactic was wrong. And I think that the country, in retrospect, there would not have been a substantive change, there would have been a positive change, if Nixon had not been elected. But you learn from your mistakes. Hopefully, other generations learn from the mistakes of those who came before them.”

ELIZABETH WARREN: We’re all here today because we’re with her. And we’re going to work our hearts out to make Hillary Clinton the next president of the United States.

BERNIE SANDERS: “She will be the Democratic nominee for president, and I intend to do everything I can to make certain she will be the next president of the United States.”

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The message here is as clear as it is predictable and disappointing. Once again those with the influence to shape these events and ignite a genuine protest movement against Hillary’s coronation at the Democratic National Convention are falling back into their roles as partisan ideologues, advocating for “their” candidate over the “other side,” taking the two-party system as a fait accomplis and complicity with that system as the only way forward.

But as Michel Chossudovsky of GlobalResearch.ca points out, this election is fundamentally different. This time, the fate of the world hangs in the balance.

MICHEL CHOSSUDOVSKY: “In so many words Hillary Clinton’s foreign policy stance is ‘to blow up the planet.’ She has made statements to the effect that a first-strike nuclear attack against Russia or Iran is on the table. So that if she is in the White House she could in fact unleash the unspoken, which is World War 3. I think this is something we have to address both in terms of analysis and also political choice. That anyone who wants to blow up the planet is not ‘progressive.’

“Secondly, she has a criminal record. Not only in regards to the email scandal but also in relation to The Clinton Foundation, which is involved in fraud, money laundering, political cronyism, etc. It is amply documented.

“So that, in effect, the choice for the American people is to elect a war-criminal.”

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Too many people become attached to the personality of these political personas or fixated on the “D” or the “R” after their name. This clouds their judgement and stops them from seeing their policies and agenda for what they really are.

As Diana Johnstone, author of Queen of Chaos: The Misadventures of Hillary Clinton points out, Hillary is best understood not as a person, but as the instrument for the think tanks, Wall Street financiers and other connected insiders who want to embroil the United States in more illegal wars and plunder the country and its people even further.

DIANA JOHNSTONE: “I mean Hillary to me is not even an interesting person. She is simply a shallow, ambitious woman. Who has decided to make herself the instrument of the Washington think-tank persuasion and is using that too pose as a great expert on world affairs to be elected as President. She simply is the embodiment of all that is terrible in American foreign-policy that has developed over the past decades.”

It is no hyperbole to say that the election of Hillary Rodham Clinton as president this November would be one of the greatest tragedies in the history of the United States, and perhaps the world. It is incumbent on people of all stripes–American and non-American, Republican and Democrat, progressive and libertarian, anarchists, and those who have never thought about politics a day in their life–to protest her nomination at the Democratic National Convention, work against her campaign for President, and avert the nuclear nightmare that is now coming into view.

The story continues here at its source (click here)72a26a5e1aa53908371a6684bed5888c

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Let me make sure you understand one very very important fact about elections in this country…OK maybe two. #1 In Presidential elections the establishment (aka the 1%, aka the globalists, aka the Illuminati etc. will stop at nothing until they are certain they own both horses in a two horse race  #2 Our Presidential elections are corrupt and fraud is rampant…and it’s not just dead democrats and illegal aliens voting who shouldn’t. With Trump still way out in front and still not controlled by the zio mafia who has taken over our government …expect to see a shit storm of lies, and negative Trump stories everywhere you turn, in every paper you read and on ever news station you watch…They want him out so Hillary can win and sink this country deeper into a hole than we can imagine, or ever get out off. Here is the unvarnished truth about Trump’s elect ability in November …don’t let the media dictate who you get to choose from this year. EP-150629545

IT’S ONLY TRUMP!!

Who can win it!

Ann Coulter

The only question for Republicans is: Which candidate can win states that Mitt Romney lost?

Start with the fact that, before any vote is cast on Election Day, the Democrats have already won between 90 and 98 percent of the black vote and 60 to 75 percent of the Hispanic and Asian vote. Unless Republicans run the table on the white vote, they lose.

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If there’s still hope, it lies with Trump and only Trump. Donald Trump will do better with black and Hispanic voters than any other Republican. But it’s with white voters that he really opens up the electoral map.

A Republican Party that wasn’t intent on committing suicide would know that. But Stuart Stevens, the guy who lost a winnable presidential election in 2012, says it’s impossible for Republicans to get one more white vote — and the media are trying to convince the GOP that he’s right.

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Stevens says Romney tapped out every last white voter and still lost, so he says Republicans are looking for “the Lost Tribes of the Amazon” hoping to win more white votes: “In 1980, Ronald Reagan won 56 percent of white voters and won a landslide victory of 44 states. In 2012, Mitt Romney won 59 percent of whites and lost with 24 states.”

Apparently, no one’s told Stevens about the 50-state Electoral College. The national white vote is irrelevant. Presidential elections are won by winning states. (Only someone who got his ass kicked running an eminently electable candidate might not know this.)

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Excluding third parties and breaking it down to a two-man race, Mitt Romney won 88 percent of the white vote in Mississippi, but only 40 percent of the white vote in Massachusetts. What sense does it make to talk about his national percentage of the white vote with disparities like that?

Romney lost the white vote to Obama in five crucial swing states: Maine (42 percent of the white vote), Minnesota (47 percent), New Hampshire (48 percent), Iowa (48 percent) and Wisconsin (49 percent). He only narrowly beat Obama’s white vote in other important swing states — Illinois (51 percent), Colorado (52 percent), Michigan (53 percent), Ohio (54 percent) and Pennsylvania (54 percent).


Increasing the white vote in these states gives Trump any number of paths to victory.  Continue Reading this article at its source (Click)

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A Shot Never Worth Taking: The Flu Vaccine ~ by Kelly Brogan, MD

Deep into my 6th year of researching and investigating the damning science that condemns vaccine efficacy and safety – yes, all of them – I am beginning to turn my attention more to the societal memes and the individual belief systems that protect and perpetuate tragically flawed and unacceptably dangerous collective behaviors. The information is OUT THERE, brilliant scientists, physicians, and researchers without financial ties and agendas have weighed in and presented their concerns about vaccine safety and efficacy, however, the average citizen resists and clings to a hyper-simplified, seemingly “safe” stance. “Well, I’m not against vaccines, I mean, they’ve done a lot. I’m sure there are some risks, but they’re extremely rare.” I understand, now, that, my collection of PubMed articles substantiating concerns about inefficacy, neurological, autoimmune, and fatal risks of these poorly conceived and anachronistically relevant immune modulators is not meaningful to someone who is not interested.

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The questions raised by this information are not provocative to someone who needs, above all, to believe that the government, the CDC, and doctors mean well, are doing their due diligence, and that they are holding themselves to a basic standard of ethical delivery of healthcare. They are not meaningful to someone who needs to outsource their power. Instead of debating the science, what it may take to change to bring awareness to this egregious misuse of medical authority is, one of two, non-scientific, anecdotal exposures:

1.They see it doesn’t work, and may even cause illness

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I have several pediatricians as patients. Unprovoked, all of these women have confessed to me that they have observed increased virulence in their vaccinated populations. It is this clinical experience that has given them pause about the heavy-handed mandate coming down from the CDC. “Oh!” I say, “Have you read the studies that suggest increased risk of infection in the vaccinated population? There’s THAT ONE where they actually used a saline placebo in 115 children and found that those vaccinated had a 4.4 times increased rate of non-flu infection? Or how about that CANADIAN ONE where they looked at 4 observational studies and found that 2008-2009 H1N1 vaccination was associated with a1.4 to 2.5 increased risk of actually contracting said virus?” Only after they have a personal template within which to fit the science affirming their observations, do they have room to hear it. But what of all of the children they have brought this ineffective and dangerous intervention to?

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2.They know someone harmed

It is basic human psychology that what is out over there is irrelevant at best, and threatening at worst. What is near and familiar is what is true. Few of us seek to bridge gaps between what we are surrounded by and what may be out there to learn. The difficulty of appreciating the scale of harm brought to the population by vaccination practice is related to the insidious nature of immune and neurologic insult. The CDC can report, as they do, that brain inflammation and death are known side effects of every vaccine, but most do not appreciate what brain inflammation looks like. That this can look like ADHD, autism, learning delay, and that autoimmune disorders can take years to manifest. Tracing the thread back to the vaccine exposure can only be done with studies that assess vaccinated versus unvaccinated populations. These have not been done.

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Tragically, we all know, now, of someone who has died from the flu vaccine, just this past week. CHANDLER WEBB, a healthy 19 year old, was given a “routine” and “recommended” flu vaccine at his physical, one day before he became violently ill, and one month before he died. He died from vaccine-induced encephalitis, a known risk of this intervention. In addition to feeling remorse for the pain that this family is experiencing, I feel rage for what I believe to be manslaughter. This is a medical intervention, delivered without any regard for its objectively determined lack of efficacy, and its potential to maim and kill healthy adults. The propaganda surrounding this CDC and government-endorsed practice is so thick that doctors treating this young man were blind to even the most obvious of causative insults. If doctors cannot appreciate a documented adverse event that occurs within 24 hours, you cannot expect the system to acknowledge more complex disturbances to the immune system and neuorologic development that will land you and your loved ones on medications and in therapies for life. And, remember, that this family cannot sue the physician who pushed the needle or the pharmaceutical company who created the lethal product.

I think about the Cliff’s Notes version, a distillation of why the flu vaccine is evidence that our government and regulatory bodies have forgotten us, and are following an objective that may leave you lying dead on the side of the road. I know that few of you will read the papers that I have read, attend lectures, seminars, and dialogue with concerned experts. If nothing else, digest these important points, and then wait until this issue gets close enough to you to change your mind on it…hopefully before it’s too late.

It’s not indicated: I’m sure you don’t know a single person who has died of the flu, and if you think you do, I can almost guarantee you that the diagnosis was not confirmed in a way that ruled out the 150-200 infectious pathogens that cause flu-like syndromes, none of which would be “covered” by the vaccine. Despite the astronomical figures the CDC flashes before us of “flu deaths”, there were 18 (yes, 1-8) confirmed in 2001, for example. Access to these figures is suspiciously concealed, but in the end, forget the stats, and use some common sense to see the fear mongering and sales marketing for what it is.

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It doesn’t work: The Cochrane Database – an objective, gold-standard assessment of available evidence has plainly stated, in TWO STUDIES, that there is no data to support efficacy in children under two, and in adults. Even the former Chief Vaccine Officer at the FDA states: “there is no evidence that any influenza vaccine thus far developed is effective in preventing or mitigating any attack of influenza.” Liking the idea of being protected from the flu does not equate to being protected from the flu. That’s essentially what your vaccine-promoting doctor (or pharmacist) is engaging in – promoting an idea.

Should there ever be a medical intervention appropriate for everyone? It’s being pushed on demographics where it is known to be ineffective, or is unstudied and likely unsafe including children, adults, elderly, and pregnant women as reviewed on THIS WEB SITE and GREENMEDINFO. I write about how this offends my sensibilities as a perinatal physician HERE.

We just don’t know what we are doing: The grave possibility of undetectable viral proteins in the chick embryos used to culture vaccines is just an example of how the immune roulette of vaccine development and rampant implementation has resulted in death and lasting injury. C. jejeuni contamination, for example, IS THEORIZED TO PLAY A ROLE in documented risk of Guillain-Barre paralysis after flu vaccine. Producing antibody response to virus and associated toxic preservatives is not immunity. We know that now.

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As those of us who shake our heads in pain and frustration watching the sheep get herded off the cliff, we refrain: these agents cannot be considered “safe and effective” and also “unavoidably unsafe” as the government agencies would have us accept. They are avoidably unsafe, in fact, when you don’t use them as part of your healthcare. ~Kelly Brogan, MD –

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See more at: http://www.vaccinationcouncil.org/2013/11/27/a-shot-never-worth-taking-the-flu-vaccine-by-kelly-brogan-md/#sthash.1pf252nV.dpuf

– See more at: http://www.vaccinationcouncil.org/2013/11/27/a-shot-never-worth-taking-the-flu-vaccine-by-kelly-brogan-md/#sthash.1pf252nV.dpuf

For those of you who read Zerohedge you will be familiar with Tyler Durden’s ability t constantly supply insightful commentary on whats happening in our financial markets today and why …I have never read a treatment of this topic spelled out so that even the unsophisticated can understand it and in doing so he is calling out the shadow government who is quickly putting this country on a collision course with its own destruction and enslavement. This great article written by Mark Jeftovic  will wake a few more people up to what’s really happening, by whom, and why!  E

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Cronyism In The 21st Century

Submitted by Tyler Durden on 06/21/2014 22:48 -040

Authored by Mark E. Jeftovic, CEO easyDNS Technologies; originally posted at DollarVigilante.com,

Ghandi was once asked, “What do you think about Western Civilization?” to which he famously replied “I think it’s a good idea.” He may as well have been talking about free market capitalism.

Capital in the 21st Century has hit the world like a new teen idol sensation. Everybody is drinking the Kool-Aid and its being held up as the most important book ever written on the subject of how runaway capitalism leads to wealth inequality. Paul Krugman of course, loves it. As does every head of state and political hack in the (formerly) free world. A text-book sized brick that can be condensed down to a couple bullet points:

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  • that unchecked capitalism leads to increasing wealth inequality, and
  • this can be fixed through government management, most notably more taxes and higher minimum wages.

What’s not to love?

There are many other refutations of Capital circulating, most of which address the numerous factual errors and flawed research methodologies in the book, and countering the income equality assertions with observations around how the standard of living generally increases across the board during periods of free(er) market capitalism (such as England during the industrial revolution under the classical gold standard or wider Europe during the High Middle Ages).

The age we live in today is not an example of this. I submit that the modern run of standard of living increases, say from end of WWII to present is not an example of “free markets given room to run”, but rather a crack-up boom fuelled by credit expansion (cheap money) and cheap energy. This era is now drawing to a close, as the cost of energy inexorably rises and the global debt super-cycle finally hits a wall. After decades of government targeted inflation, after the better part of a decade of ZIRP, after increased regulations in every aspect of our lives, after civil liberties being for the most part abolished (after all, the government is allowed to assassinate any one of us and we are all under continuous pervasive surveillance) what is difficult to fathom is that political economists can still make hay in the world by blaming its problems on capitalism gone wild and runaway free markets. Put simply, true capitalism requires free markets, free markets require a free society and we do not live in a free society.

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So let’s do something different here and accept a core premise of Capital, and say that wealth inequality is increasing, and that it’s a bad thing. Where the point is completely missed is in what causes it (ostensibly “free market capitalism”) and what to do about it (increase government control, induce more inflation and raise taxes).

The point of this essay is to assert that it is not unchecked capital or runaway free markets that cause increasing wealth inequality, but rather that the underlying monetary system itself is hard-coded by an inner temple of ruling elites in a way which creates that inequality.

We’ll see that wealth doesn’t “run away” in a logarithmic fashion (perhaps hinted at by Pareto and captured in various “1% memes”) but rather can be best visualized as a vortex, like a tornado, or more accurately, a black hole, a centre swirling around a political/monetary/cronyist nexus that sucks wealth into it from the periphery (the rest of society). Society itself is hard-wired to facilitate this in such an entrenched and subtle fashion that we have arrived in a zeitgeist in which the key facets of this system (the nature of money itself) is out-of-scope. It’s not even part of the debate because almost everybody in society is oblivious to it’s machinations. (This is the reason why in my writings I do not refer to underclass or overclass but rather, the “outer-class” and the inner elites.)

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Because the nature of money itself has been so, for lack of a better word, “esotericized”, I need to include Stephen Zarlenga’s seminal work “The Lost Science of Money” in our expose. While Zarlenga blesses us with an exhaustive study of money and banking practices throughout history, and does a superb job deconstructing the perniciousness of central banking and debt based money systems, he erroneously arrives at conclusions favouring direct government creation of fiat money (he even came out in favour of that whole “Trillion Dollar Coin” idea because to him it signaled a tacit admission that the government doesn’t really need the Federal Reserve). However even his arrival at this seemingly (to us) off-base solution tells us something vital about the system within which we are all immersed.

This is what it tells us: if smart, scholarly people happen to believe that government fiat money is both feasible and beneficial to society, and they put serious thought into devising such a system, what they will not come up with is one run by private central banks issuing debt-based money. They just won’t. Any critical analysis would grasp that such architecture would become a parasitic cancer on the entire society. When you realize this, it’s hard not to posit a far-reaching conspiracy to institutionalize inequality. While I am a big believer in the maxim “never ascribe to conspiracy what can be explained by stupidity” it to me falls short in this case. When we look at the structure of the entire monetary system and realize that it’s the worst way possible to design such a system if you have the best interests of the wider society in mind then you can’t help but ask in whose interests was it designed and implemented?

As such, the system within which we find ourselves seems to be one that isn’t designed to be in the best-interest of most of us reading this (and would remain true even if you were inexplicably reading this on Huffington Post, Slate or Business Insider).

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If we want to understand where wealth inequality comes from, “The Lost Science of Money” is a good place to start  for two reasons: 1) his book is an exhaustive history of money, even if one disputes some of his takeaways from it) and 2) like many libertarians and an-caps, he understands the pernicious, malignant effect of private central banking. His ideal solutions may not fly (government controlled fiat, because governments will always inflate and debase) but his exposure of the fraud is convincing. Zarlenga’s main thesis can be put briefly that the primary arena of human struggle throughout history has been mainly over the monetary control over societies. If Zarlenga had to put it in one sentence, which he did, it would be this one:

“It is by misdefining the nature of money, special interests have often been able to assume control of society’s monetary system, and in turn, the society itself”. (emphasis added, and you’ll see why soon). He broke his book (almost as big as Capital) down into sections, examining that:

  • The Main Obstacle is The Mystification of Money
  • Monetary History Has Been Ignored
  • Monetary History Has Been Censored
  • Monetary Data is Often Misinterpreted

All of which is correct and explains why a book like Capital is on the New York Times Best Seller List. The premise that wealth inequality is caused by unchecked capital formation (a.k.a runaway free markets or capitalism gone wild) derives from the biggest misinterpretation of them all. It’s not only monetary data that is misinterpreted, it’s the entire framework around monetary policy itself which leads to these increasing imbalances. In other words, it is the structure of our monetary system itself which institutionalizes accelerating wealth inequality. Thus, taxation, intentional inflation, credit expansion, money supply injections and central planning all exacerbate income inequality, they do not alleviate it. Pikkety is a political economist (as is Krugman) and Zarlenga calls political economists the “Priesthood of the Bankers.” Among the Priesthood I’ll again list off Zarlenga’s bullet points but this time I’ll inject my own interpolation of their meaning in today’s climate:

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Ideas rule:

Here we mean academic political economists with no real world financial, market or business experience devise elegant theories which look good on a blackboard, will earn them Nobel Prizes and become ensconced into the prevailing orthodoxy of conventional economic thought. Governments can then utilize these theories (or self-serving adaptations of them) to justify monetary polices that enable them to live beyond their means or otherwise further their own interests and those of their cronies.

 

These policies are utterly backwards in that they posit what economic forces should do according to some model, instead of trying to understand what they actually do based on observed results. When you do unleash Nobel laureates with their theoretical constructs on the real world, you don’t get “green shoots”, you get LTCM.

Economists as propagandists.

Two words: Paul Krugman.

Economics degenerates from the scholastics

Even the untouchable pillar of Keynesianism is a bastardized caricature of what Keynes actually said, which was that governments could smooth out the business cycle by deficit spending during bust years by running surpluses during the boom years. In it’s most basic form this just means saving for a rainy day. But governments don’t do that, because (as people like Krugman opine) “the government doesn’t have to pay it’s bills”. Thus, it’s all deficit spending, all the time. The last US president to actually run a surplus and pay down debt was Eisenhower (the so-called Clinton era surpluses were a sleight-of-hand fiction). The last president to pay off the debt was Andrew Jackson.

Fostering a disdain for the lessons of history

You can look at almost any financial panic, especially over the last hundred years, and you’ll see the same thing play out repeatedly.

 

For example, if you go back and look at the S&L crisis and the policy response to it, one is stricken with the similarities between then and now, how nothing was actually resolved in the policy response to S&L, in fact just the contrary, how bad behavior and incompetence were rewarded instead of allowed to be punished via free enterprise rules of engagement.

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The pattern is as follows:

  •     poor policy, credit expansion, government management of the economy (i.e. housing bubble) and insulation from consequences by special interests (bankers, etc) leads to a panic.
  •     government bails out bad actors at public expense
  •     massive wealth transfer from public to elites occurs
  •     free markets and runaway capitalism blamed
  •     additional regulations imposed restricts range of operations of non-elite players while enabling elite cronies to externalize losses
  •     additional controls over economy enacted (ZIRP, new regulations, etc)
  •     increased government debt (stimulus, etc)
  •     next wave crack-up boom inducedIn Special Privilege,  a chapter entitled “The Recurring Nightmare” enumerates the serial financial panics of the 19th and early 20th centuries (to wit: The Panic of 1819, The Panic of 1837, The Panic of 1857, The Panic of 1873, The Panic of 1893, and the Panic of 1907, whose policy response led in a straight line to The Federal Reserve Act of 1913). LoCascio poses the question “Isn’t There A Lesson Here?” He went on to observe,LoCascio published Special Privilege in 2001 (he died in 2006), but large swaths of his work could easily be cut and pasted into the aftermath of the Global Financial Crisis and no doubt, will be highly germane during the forthcoming, next crisis. The only difference being that after the next, inevitable (possibly imminent) wave of financial panic, it may be impossible to kick the can down the road yet another time. We may have finally, collectively come to the end of the line on “the great fiat monetization of everything” and be barreling toward the brick wall of unsustainability at the end of the runway.The big question around wealth inequality is this: why does wealth inequality increase as the distance from the nexus of political power increases? Why does wealth concentrate toward the centre? When asked this plainly, the answer becomes just as obvious: because the system is rigged that way.Whether you don’t believe in a classical gold standard (Zarlenga) or you do (LoCascio), whether you think bitcoin is viable or lunacy, where all these schools of thought intersect is at the point that finds private, fractional central banking a blight on civilization that leads to cronyism oligarchy between banksters, career politicians and corporate/kleptrocrat elites and this is the point that is most vociferously relegated out-of-scope in any kind of dialog around today’s central, pressing issues of the time.“The ultimate crisis will occur when the situation is so thoroughly perverted that the defenders of the status quo can no longer resurrect confidence in the system.”People are still very willing to believe in Unicorn Economics, the emergence of crypto-currencies such as bitcoin point to a widening rejection of that, but it will likely not achieve critical mass until the wheels come off the current system altogether.As I completed writing this essay, the ECB announced negative interest rates, in other words NIRP. This is sold to the public as a mechanism to spur bank lending to – again – stimulate the economy. What nobody asks is how the financial system can be so distorted, so perverted that policymakers can simultaneously implement negative interest rates while holding on to claims of legitimacy around their ability to “regulate” or “manage” the economy, or that the wider society is actually benefiting from these policies. If you think – and I know some otherwise highly intelligent people who do – that this is just some highly abstract financial smoke and mirrors that doesn’t really mean much in the real world, remember where you read this first: when NIRP fails to stimulate lending, the next Big Idea in Unicorn Economics will be to target money velocity and put expiry dates on cash. It’s the next logical step once you’ve entered the Twilight Zone as we have, and that’s also what you get when a global monetary system based on perpetually expanding debt approaches the end of the runway. (Or as as Fiat Paper Money author Ralph T Foster put it,  “Reading history is a harmless pastime, reliving it is another matter.”)
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  • Postscript:
  • What Pikkety has succeeded in is proving that we are not there yet. The propensity of the masses to rally behind this shows that confidence in the system is still long and strong. But what we are seeing are fissures in the logic – not only in books like Capital in the 21st Century but in entirely new and nonsensical economic schools of thought seemingly conjured out of thin air for the sole purpose of justifying and explaining away the otherwise unavoidable distortions and non-sequiturs of our economy (such as Modern Monetary Theory and Modern Monetary Realism – more on those in another post ).
  • As LoCascio predicts,
  • Because that is wealth inequality in action. When looked at from this angle you are able to see the underlying flawed assumptions that are otherwise considered “out of scope.”
  • This is what is so maddening about the irony of a book like Capital, chock full of fallacious data and erroneous conclusions makes Pikkety hotter than Justin Bieber, while brilliant historians such as LoCascio die in obscurity. The fact is that financial panic, followed by institutional wealth transfer (and confiscation) is systemically ingrained into what is called “conventional economic thought”
  • “During the 50 years of the National Banking System, currency had increased from roughly  $1 billion to $3 billion –or, by a factor of 3. Bank loans on the other hand, grew from roughly $0.5 billion to $13 billion–or by a factor of 25. This provides a rough numerical measure of the tendency (which continues to this day) that money creation has been tied to debt creation by banks.”
  • Little if any attention, however, was focused on the role the prior euphoria played in causing the resulting panic. Rather, attention was focused on the panics themselves and the virtually unanimous conclusion by those in position to bring about reform, was the great elasticity of currency would ameliorate, if not eliminate, the panics.”
  • “The 19th century and early 20th century  panics were so uniformly accompanied by the liberal extension of credit for speculative purposes that any serious reviewer of these events could not possibly fail to hypothesize a likely causative relationship.
  • The cycle repeats each time ensuing bubble and subsequent meltdown increasing by an order of magnitude. Which brings us to Vincent LoCascio, probably the most under appreciated commentators on our monetary system of this era. If ever there was a pair of “must” read books about what really causes wealth inequality in our society it is his Special Privilege: How the Monetary Elite Benefit… At Your Expense, and The Monetary Elite vs Gold’s Honest Discipline.

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To put it simply …I like listening to Michael Savage and the Savage Nation for that matter I have also enjoyed reading all of his best selling books …Living in the Bay Area these past years and listening to Dr. Savage on KSFO 560 AM I have become sort of fond of him and there is nothing I enjoy more than listening to him working himself up into one of his famous world beating rants. Savage’s only ideological flaw and blindspot is his ridiculous and poorly conceived support of Israel. Like Mark Levin, Savage’s willingness and enthusiam to endorse all things Israel despite the facts has no doubt cost him alot more than just credibility with people who don’t get their news from the Zionist owned media …On the topic of Israel both Savage and Levin are either Zionists masquerading as good guys …are horrendously uninformed (but only on this one topic …hmmm) or both. Either way I decided years ago that the good outweighs the bad and go channel surfing whenever they are paying the vig to their Zionists overlords who at least they think can take them down (which we know they can)

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That said Savagaes new book is a good one and one of the most timely and content rich books he has written. He knows whats really going on and in his book he tells us how it is. Buy the book and then pass it along or buty a copy for someone else who needs to read it. His insights into the O’bola scare is frightening and onpoint which has caused him to appear on the government radar once again and for CNN to try and tee him up for ridicule and mockery when he said what the rest of us have all been thinking. Savage had the moxy to suggest that Obama’s handling of the ebola scourge appears to be designed to spread the disease and not contain it. And that’s when the fight was on … Savage is 100% correct and its hard to put any other spin on whats going on today with ebola obama and the soon to take place take down of the USA. CNN thinks it has the bully pulpit with delusions of grandeir and ratings and viewers they dont have …and that Savage does.. Here are what some other bloggers had to say about this … Savage Rocks!  First up is Chelsea Schilling with the Illinois Social Media Law Blog.

CNN DUMBASS ATTACKS DR. MICHAEL SAVAGE ON EBOLA

Accuses Michael Savage of believing Obama ‘wants to infect soldiers, Americans’

Then WND had this to say .,…

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CNN is accusing talk-radio host Michael Savage of spreading “wild conspiracy theories” about Ebola and claiming Obama is purposely trying to infect U.S. troops and the nation with the deadly virus.

“Speaking of wild conspiracy theories, conservative talk-radio host Michael Savage, who has one of the biggest radio audiences in the country, has even been suggesting that this is all some Obama plot to purposely infect the nation,” CNN’s Jake Tapper said in a segment on his show headlined, “Dangers of Ebola: Myths and misconceptions.”

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CNN then played a clip of Savage telling listeners of his nationally syndicated show, “There’s not a sane reason to take 4,000 troops and send them into a hot Ebola zone without expecting at least one of them to come back with Ebola, unless you want to infect the nation with Ebola.”

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Tapper then said, “It’s hard to even know where to start with that one – the idea that the president wants to infect soldiers and then Americans. It’s so unhinged, we should probably not bother dignifying it with fact-checking.” (Editor’s comment …Like they fact check any of their other manufactured or contrived propganda pieces…these people should be the first to swing from a rope when the SHTF)

Watch the segment below where Savage joins Alex Jones discussing his theory about whats going on and whats coming:

 

 
Read more at http://www.wnd.com/2014/10/cnn-savage-has-wild-conspiracy-theories-on-ebola/#z6lAGCLHYLDZtJy4.99

The Campaign for Immorality

People don’t like to talk about America’s culture for the same reason that a man who just had a heart attack doesn’t want to discuss the double bacon cheeseburger he’s eating. He knows what he’s doing is killing him, but it’s easier not to deal with it. We’re in the same boat. Take the following examples of what our culture has become
* We treat success as an accident or a cheat while defending people who make bad decisions, who won’t educate themselves or who won’t work.
* We’ve allowed pornography to become so accessible that it’s practically universally viewed, even among teenagers.
* We love victims so much that people actually fake hate crimes to claim victim status.
* We celebrate losers and deviants by giving them their own reality shows. Meanwhile, Hollywood regularly portrays businessmen, Christians and soldiers as the worst people on earth.
* More children have died because of Roe v. Wade than were killed during the Holocaust.
* Marriage is falling apart and we’re encouraging that by pushing gay marriage.

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* Our universities reward Communists, terrorists and blatant anti-American sentiment with professorships. Those are the last people who should be teaching impressionable young Americans.
* There’s a whole grievance industry full of people who make a living claiming to be “offended” by things.
* Religion and morality are denigrated while nihilism and immorality are considered cool.
* Legalism has superseded morality and what’s “right” and “wrong” has become secondary to what’s “legal” and “illegal.”
* We’re the greatest, most powerful, most prosperous and most virtuous nation that has ever existed and despite all of that, we obsess over our nations faults instead of our achievements.
* Americans across the spectrum are being encouraged to separate themselves off from the larger culture and nurse grievances that barely would have been given a thought a few decades ago.

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Yet, we’re told that we shouldn’t worry about any of these things because people have always worried about our culture and things have turned out just fine. Even if that’s so, have you ever considered the possibility that worrying about the culture and taking steps to keep it from getting out of hand is exactly what once kept it from going to the dogs?
Yes, there was a time when people worried about Elvis provocatively shaking his hips on stage and it’s easy to laugh at that, but wouldn’t we be better off if that was one of the biggest moral problems we faced as a society today? We don’t like to admit the ugly truth; we’re more educated and much less racist than we used to be as a society, but we are also morally inferior to Americans from fifty years ago in almost every other way that matters.
Many people believe Rome fell because of a decline in morals while the Soviet Union disintegrated because they spent so much money trying to keep up with Reagan that they went broke. Well, we have both problems going on simultaneously. Meanwhile, preppers have become legion. Billions of dollars are being held back from the economy because people are saving up in case there’s an economic collapse. Businesses are sitting on mountains of cash and looking to move their headquarters overseas. Many educated, informed people believe America is headed towards bankruptcy or runaway inflation not in fifty years, but within the next decade or two. If you’re looking for signs that this country is in deep trouble, there are red flags galore waving in your face.
But this isn’t just an economic problem, a spending problem or a leadership problem — although those are all concerns. It’s a cultural problem with our morals and what we value as a society on the most fundamental levels.
* In practice, our society focuses almost exclusively on the short term without thinking about the long-term consequences of our actions.
* We have a higher moral standard for the NFL than we do for our own leaders in Washington.

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* We have a political party dedicated to the idea taking things from people who’ve worked for it and giving it to people who haven’t.
* We make little effort to assimilate immigrants into our society and instead, encourage them to embrace the culture they fled for the United States.
* We’ve stopped acting as if we have to pay back the money we borrow
* We treat the rule of law as optional, depending on who’s impacted by it.
* We believe our children can grow up in a moral sewer and still turn out to be fine, upstanding citizens regardless.
We’ve become so divided, so antagonistic, so morally separated that for the first time in over a century there are people asking hard questions how much we really have in common with other Americans. If you’re comparing let’s say a conservative from South Carolina to a liberal from California, the honest answer is “not much that matters.” Perhaps not even enough to hold a country together over the long haul if one group or the other ever became politically dominant.

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There’s only one way to change that and it’s to address the real sickness at the heart of American culture. That sickness is our newfound reluctance to address the moral health of our society. Over the long haul, we can’t thrive and we may not even be able to survive as a divided, degenerate society full of people who reward failure, resent success and live for the moment. Morality matters and if we forget that, our nation is doomed to descend into decadence, decay and perhaps one day, even dissolution.

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