Sunday, November 16, 2008
Oh, Obama
In his topical report from Thailand, a continuation of the preceding post, Thomas H. Greco has a few things to say about the new Presidency.
Report from the field – Koh Phangan 2 — Wednesday, November 12, 2008
Oh, Obama
"Irrational exuberance" is a phrase that has become stuck in the public mind ever since Alan Greenspan used it to describe the stock market boom of a few years ago. The exuberance attendant to Barack Obama's election to the presidency may not be irrational, but it is almost certainly based on false premises and unrealistic expectations. Like most of my friends, I was pleased with the outcome of the presidential election, not because I expect Obama to implement the kinds of deep changes that are needed, but because (1) it showed the willingness of Americans to put aside considerations of race and choose a black man to lead the country, and (2) because it may indicate that the majority of the American people are snapping out of the delusion that caused them to previously choose leaders who, putting on the mask of righteous religiosity and appealing to people's fears, have taken the country to the brink of fascist dictatorship and financial ruin. As Sinclair Lewis was supposed to have said, "When fascism comes to America it will come wrapped in the flag and carrying a Bible."
Virtually all of the foreigners I encounter are also pleased with the election outcome, hoping that it will bring about a change from the way the United States has thrown it weight around in recent years to a more respectful and cooperative foreign policy. I'm hopeful of that too, but lets not be too sanguine about this recent turn. Sure, we might prefer the manner of the "good cop" (Obama) to that of the "bad cop" (Bush), but do not doubt for a minute that the overall agenda remains the same. Obama is not our savior. At best, he might throttle back some of the wholesale looting that has been going on for the past 8 years, and he might allow a few more crumbs to fall to the masses from the oligarchs' table. But did he not vote in favor of bailing out the banks instead of helping the people whom they lured into the usury trap? And, like Nixon before him who promised to end the war in Vietnam, Obama's rhetoric about ending the Iraq war will probably prove to be just as hollow.
One thing should be perfectly obvious by now, one does not get to be a viable candidate for the office of President without being approved, even "groomed" for it, by the elite group that runs the world. Just look at Obama's list of advisors and his list of major funders. Long-time friend and associate, Jeff Smith, in his online newsletter, The Progress Report (http://www.progress.org/...), has made us aware of the non-partisan Center for Responsive Politics (CRP) whose role is to "follow the money" and track its influence on American government.
Just within the past few days Obama has announced the appointment of Congressman Rahm Emanuel to be his Chief of Staff. CRP reports that:
Rep. Rahm Emanuel, the Illinois congressman who was an aide in the Clinton White House, was the top House recipient in the 2008 election cycle of contributions from hedge funds, private equity firms and the larger securities/investment industry--not the most popular of industries in the current economy. Since being elected to Congress in 2002, after working as an investment banker, Emanuel has received more money from individuals and PACs in the securities and investment business than any other industry.
It also points out that "Emanuel and Obama have more than just Chicago in common; investment bank UBS, Goldman Sachs, JP Morgan Chase, Citigroup and Morgan Stanley are among both men's lists of top donors." You can read the full story at http://www.opensecrets.org/....
Rabbi Michael Lerner, in a November 7 newsletter, said he was "shocked and deeply disappointed" at the news of Emanuel's appointment, and that because of it, those who have a "commitment to single-payer universal health care, carbon taxes for environmental protection, a Homeland Security strategy based on generosity and implemented through a Global Marshall Plan, will be unlikely to get a serious hearing in the White House." Rabbi Lerner, who is editor of Tikkun Magazine (www.tikkun.org), and is chair of the Network of Spiritual Progressives (www.spiritualprogressives.org), is a respected voice of reason and compassion and someone who is acutely aware of political realities.
Am I saying that we should stop working at the political level and not try to influence Obama and the new administration? Not at all, but we need to acknowledge the reality of the situation, which is that there is no easy way out. We cannot rely on any political leader, no matter how charismatic, to fix things for us. Virtually all top level politicians are beholden to the moneyed interests and there is no way ordinary people can outspend those who have control of the very source from which money is emitted. They are in power to maintain the debt-money power system, which, as I've said before, forces accelerating expansion of debt and unsustainable economic growth (the debt imperative and the growth imperative).
We need to look to ourselves and to each other. To repeat what I said in my last newsletter, we need to nurture our communities and form new ones. This requires more than neighborhood coffee klatches and barter exchanges. We need to lessen our dependence upon the failing structures and institutions and apply our talents and resources to creating new ones that can better satisfy the needs of all. We need to organize as whole communities, creating mutual support networks, including credit clearing associations and non-political currencies that are based on the productive capacity of local and regional businesses.
Posted by Christian Butterbach @ 02:37 PM GMT+1 [Link]
What to do? Advice to those at the bottom...
In his topical reports from Malaysia and Thailand, Thomas H. Greco is offering us some necessary truths and his thoughts on how those with little leverage can still maintain hope, based on solidarity and knowledge.
Penang, Malaysia, September 30, 2008
Many people are asking what's going to happen with the economy and the US dollar.
Near-term, I have no idea; long-term, I've been saying that the global elitist system of money, banking and finance is unsustainable, not to mention unfair and corrupt.
I see it as a good thing that Congress has refused to pass the bailout bill, but that may be just a temporary setback for the powers that be. [CB: It was of course, as we know in the meantime!] We could be in for a wild ride.
Just remember, whatever happens in the realm of human structures, like money and finance, does not necessarily need to disrupt our ability to feed, clothe and shelter ourselves if we do not allow fear to separate us.
Sharing and cooperation will be the way toward survival and a better world.
20 October 2008
The Great Wake-up Call
Sometimes it's a severe pain in the chest, sometimes shortness of breath, other times dizziness, numbness, disorientation or loss of muscle control. These are symptoms of something seriously wrong, a warning of impending health crisis, a signal that something needs to change.
In our collective experience known as political economy, we are experiencing symptoms of distress. The real estate bubble and subsequent bust, the financial meltdown, deepening recession and inflation are all telling us that something is wrong, that something needs to change.
The mainstream media don't tell us what or how. They are part of the system that is trying to maintain the status quo. They will give space to minor policy adjustments and legislative proposals, but not to the kinds of deep structural changes or emergent systems that can make a real difference.
Fortunately, there are independent media and information sources that are devoted to providing the kinds of information people need.
Back in June of this year I viewed an amazingly good documentary film titled, Zeitgeist. I recommend it highly. Get it at http://www.zeitgeistmovie.com/
Most of the information in it was already known to me, and includes much of what I've been trying for years to tell people in my own humble way. This film is well put together and pretty accurate as far as I can tell. One aspect that was somewhat new to me was the material that shows the congruence among the various "redeemer" myths going way back B.C. That part, and some of the political material, won't go down easily with true believers of any stripe -- the devout and patriotic, but if one can keep an open mind, there is much to be learned - much that could save our lives.
Now there is an addendum to the Zeitgeist movie that focuses more attention on the "money problem," economic imperialism, and emerging sustainable technologies. The Zeitgeist: Addendum can be downloaded from: http://www.zeitgeistmovie.com/; also at, http://video.google.com/...
The first twenty minutes do a creditable job of describing how our conventional political money is created. It's a good supplement to the films Money as Debt and The Money Masters that I previously recommended.
The next part of the film features John Perkins, author of Confessions of an Economic Hit Man. He does a superb job of clearly explaining how the empire achieves dominance over other countries, giving examples from his own experience. As he describes in his book, there are three levels of action. The imperial forces first try to corrupt the country's leaders and get them to play along, saddling their people with huge debt loads and selling off government owned assets. If that fails, they will stir up internal opposition and either overthrow or assassinate a recalcitrant leader. If that fails, the military will be sent in as a last resort.
In recent years, the reluctance to use the last option seems to have diminished, as war affords opportunities for great profits to be amassed by political cronies and well-connected companies, and the power of Congress to mount opposition to military adventures has all but evaporated.
The original Zeitgeist movie contains important information about the central banking system and the Federal Reserve. If you don't have time to watch the entire film, a relevant seven minute excerpt can be seen here: http://www.youtube.com/....
My new book will give a different perspective on the global problematique, and is unique in offering practical approaches that will enable us to "escape from the matrix." I still expect it to be out by early next year.
Hal Turner Shows the new Amero Coin and Describes the Impending Collapse of the Dollar
For the past several months the internet has been abuzz about the elitist plans for the North American Union and the new Amero currency. Now Hal Turner shows a coin which he purports to be an Amero coin issued by the US government. Is it? You decide.
Whether or not that coin is authentic, one thing seems certain: the US dollar is headed for oblivion and a new monetary regime is being prepared by the powers that be. Wars and bank bailouts are being paid for with increasing amounts of "empty dollars." The money supply is being inflated with legalized counterfeit at an unprecedented rate. Besides ballooning budget deficits, there is the chronic trade deficit. The US continues to import more than it exports, relying on foreign governments to buy US government bonds to finance the deficits. The value of the US dollar must therefore shrink ever more rapidly. The savings of the middle class will be wiped out. Dollar denominated assets, like bank accounts, CD's, bonds will become increasingly worthless while your debts will remain. Price increases may be temporarily held in check by the credit crunch as more businesses fail and more people lose their jobs. But the handwriting is on the wall. It's a credit crunch for main street but a lavish abundance of credit for Wall Street. Much higher prices and lower dollar values must follow.
What to do?
Mike Adams provides some pretty good advice on his website, NaturalNews.com. Take a look at his comprehensive special report, How to Build Your Financial Safety Net.
The thing that's missing in Adams' report is how to protect a nest egg. How do you protect the value of the assets you have? Here are my thoughts on that.
As prices bottom out, use your money to buy selected real estate and useful things of real value.
Get out of dollar denominated securities - bank deposits, CD's, bonds, etc. Keep only enough liquid to satisfy demands for payment of taxes, utilities, etc.
What are the alternatives?
Buy anything that can support you and your family directly - a home, productive land, gardens, orchards, woodlots, durable clothing, equipment, knowledge, skills, books, computers, etc. Buy selected foreign currencies. Above all, make friends, nurture your communities and form new ones. As my good friend Sergio Lub says, our best security is not in money or gold or material things, but in our relationships and our willingness to help each other. The effectiveness of actions by isolated individuals is severely limited. It will take organized cooperative action to really protect ourselves and get through this transition stage. Organize mutual support networks, including local credit clearing unions and currencies. My upcoming book will provide detailed advice on how to do that, but many of the ideas are already available at my blog Beyond Money and website.
WIR - Current Operational Realities
Susan Witt of the E. F. Schumacher Society has recently filed a report on her trip to Basel, Switzerland, during which she queried fellow Rotarians about their experience with the WIR Bank and WIR credits. It makes for some interesting reading. I've posted it with her permission on my blog at http://beyondmoney.wordpress.com/.... WIR is an important case to study. Read the other documents about it that are on my blog Beyond Money and website.
And here's a bit of levity:
Uncertainty has now hit Japan. In the last seven days, Origami bank has folded, Sumo Bank has gone belly up and Bonsai Bank has announced plans to cut some of its branches. Yesterday, it was also announced that Karaoke Bank will go up for sale and will likely go for a song, while shares in Kamikaze Bank were suspended today after they nose-dived. While Samurai Bank is soldiering on after sharp cutbacks, 500 staff at Karate Bank got the chop and analysts report that there is something fishy going on at Sushi Bank, where it is feared that staff may get a raw deal.
Q: George Bush was asked today “what did he think of the Credit Crunch?”
A: He replied: “It was his favorite Candy Bar.”
Koh Phangan, Thailand, October 28-29, 2008
The Bank Bailout Scam
What can you expect when a fox is appointed to manage the hen house? Our current Treasury secretary, Henry Paulson, was formerly the CEO of Goldman Sachs, one of the most powerful financial institutions in the world. His appointment to that post was clearly intended to enable a continuation of the long trend of greater concentration of power and wealth in elite hands.
Recent moves by the U.S. Treasury make that ever more obvious. In an article in Saturday's (Oct. 25) New York Times, Times economic columnist, Joe Nocera, reveals what he calls "the dirty little secret of the banking industry" -- namely, that "it has no intention of using the [government bailout] money to make new loans."
Nocera explains that the Paulson plan to hand over $250 billion [in money borrowed into existence by the government] to the biggest banks, in exchange for non-voting stock, was never really intended to get them to resume lending to businesses and consumers, as was stated. That was just window dressing. The real purpose of the bailout is to engineer a rapid consolidation of the banking industry by enabling at public expense a wave of takeovers of smaller financial firms by the most powerful privileged banks. Examples, so far:
JPMorgan's recent government-backed acquisition of two large competitors, Bear Stearns and Washington Mutual; the takeover of Merrill Lynch by Bank of America, Wachovia by Wells Fargo and, National City by PNC.
There's more to come, and by deciding which banks get handouts and which don't the entire consolidation process is being orchestrated from the top.
Keep smiling,
Tom
Website: http://www.Reinventingmoney.com
Blogs: Beyond Money: http://beyondmoney.wordpress.com;
Tom's News and Views: http://tomazgreco.wordpress.com
Photo gallery: http://picasaweb.google.com/tomazhg
"Generosity is the virtue that produces peace." - from a Buddhist Sutra
Posted by Christian Butterbach @ 02:31 PM GMT+1 [Link]
Tuesday, November 11, 2008
Wow! The Renaissance of America!
No, you idiots (how come you are trying to read this website?!), I am NOT, LIKE YOU, with eyes the size of saucers, with my naked belly flat on the floor, crawling cheerleadingly over the red carpet towards the old new throne on which sits only an improvement of the complexion... So, that is not what I mean by the above heading! What I mean is the following. For too many months, during that electoral circus, I had felt like if some cover made of lead had been thrown over America. Communication with Americans had not been possible anymore, sort of come to a standstill. I had largely turned my back to them like they had to me. And I am talking of libertarians here! I had taken up the opportunity to become a bit more involved locally, in Germany, as I saw some invigorating signs here. But Germans, even for liberty, mostly need templates, the feeling, when it exists, is often too well behaved to change much. Now, happily, I see the vigor of a beginning libertarian Renaissance in America. Not in DC, mind you, but in the not so brain-dead population that forms the opposition and is more and more filling the ranks of the libertarian movement. If any proof of this is needed, read and savor the gifted lines I just read:- Only Nixon by L. Neil Smith
- An Instinct for Liberty by Kent McManigal
--
-----Mary Lou
DB and Banshee and Ginger (dogs)
Damcat
Callie in spirit (4/90-6/07)"
*) "Funny, I too try to avoid bombing weddings, but I'm a lot more successful at it, despite a much smaller budget."
Posted by Christian Butterbach @ 07:04 AM GMT+1 [Link]
