oftwominds | There are really only three ways to cripple Wall Street's democracy-killing concentration of wealth and power: take our money out of Wall Street and the TBTF banks, eliminate private money from elections and abolish Wall Street's dealer, the Federal Reserve.
There are only three things--and only these three--that will cripple Wall Street's democracy-killing concentration of wealth and power:
1. Transfer the 99%'s money out of Wall Street and the Too Big To Fail Banks
2. Remove campaign contributions from our democracy in a way that the corporate legalist lackeys in the Supreme Court cannot overturn, i.e. entirely publicly financed elections
3. Abolish Wall Street's dealer, pusher and protector, the Federal Reserve.
My reasoning is very simple:
Everything else people want to see happen cannot happen if:
1) Wall Street and the SDI (systemically dangerous institutions) a.k.a. too big to fail banks, control most Americans' financial assets and debts
2) The Federal Reserve exists to enable and protect the SDI's wealth and power via Primary Dealers, the discount window and other pusher/dealer mechanisms
3) Wall Street and the other SDIs can use the billions of dollars they skim from our accounts, IRAs, 401Ks and pensions to buy political influence and protection from regulation and competition.
Therefore these are the necessary foundations of any real change.
2 comments:
How did Financial Capitalism grow w/o credit or just sound money (whatever that means; risks isn't sound money, why Insurance Giants)? From Mr. Ron Paul statement. Does he not deal with the banking system for his wealth? Friedrich Hayek saw no problems with a centralize bank - one of Paul's mentor. Yet, the banking system must change, I agree with that. There is a unity between "common man" fascist ideas (1900's) and the left in the USA.
Andrew Jackson the most racist populist president in our history, I have very little respect for. Jefferson had a point but he was an Agricultural Elite. The problem is we refused to take away the oligarch power we gave finance and Inc, because it feeds our addictive consumption and fantasies of being rich. Wall St should have no political pull, for it is simply a gambling institution for the super rich, but; we Americans like it because we like to gamble. There very little creative thought today in the political arena, why this chaotic period will drag and that is dangerous.
The
first duty of government is to protect the powerless against the powerful
Code of Hammarabi
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