BAILOUT

Everyone wants a solution, so I will provide one. The US government should simply cancel the $230 trillion in derivative bets, declaring them null and void. As no real assets are involved, merely gambling on notional values, the only major effect of closing out or netting all the swaps (mostly over-the-counter contracts between counter-parties) would be to take $230 trillion of leveraged risk out of the financial system. The financial gangsters who want to continue enjoying betting gains while the public underwrites their losses would scream and yell about the sanctity of contracts. However, a government that can murder its own citizens or throw them into dungeons without due process can abolish all the contracts it wants in the name of national security. And most certainly, unlike the war on terror, purging the financial system of the gambling derivatives would vastly improve national security.

I, Michael James, shall desist from the consumption of all food other than glucose and water until my people are granted their popular demand for a referendum on whether or not to remain within the Soviet European Union.

Goldman Sachs and the financial technocrats have taken over the European ship. Democracy has gone out the window, all in the name of keeping the central bank independent from the “abuses” of government. Yet the government is the people—or it should be. A democratically elected government represents the people. Europeans are being hoodwinked into relinquishing their cherished democracy to a rogue band of financial pirates, and the rest of the world is not far behind.

The Kiwibank & Japanese Model: Postal Banks to Serve Local Communities

Banking in post offices is not new. Many countries, including Germany, France, Italy, Japan, and New Zealand, have a long and successful history of it; and so does the United States.  If the USPS added banking, it could use its own bank-generated credit to help relieve its debt problems.  According to German researcher Margrit Kennedy, interest composes on average about 40% of the cost of all goods and services. That suggests that eliminating interest could reduce the USPS debt by about 40%.

Do you want to know what the future of America is going to look like? Just check out what is happening to Detroit. The city of Detroit was once one of the greatest industrial cities in the history of the world, but today it is a rotting, decaying, post-apocalyptic hellhole. Nearly half the men are unemployed, nearly half the population is functionally illiterate, more than half of the children are living in poverty and the city government is drowning in debt. As economic conditions have gotten worse, crime has absolutely exploded.

It's simpler than you think...

He would allow banks to do look back trades every time they buy or sell shares for the 25 trillion dollars in assets they manage.  He would allow Goldman Sachs to steal 100 million dollars a day in High Frequency Trades. He would not be satisfied that 30 trillion dollars had been stolen. He would send out signals saying ‘Steal every last penny. Steal it all.’  And that is what Obama has done.

Money has always been created and destroyed by the private banks. When the banks stop loaning money, the economy crashes. Banks make huge profits on the interest during booms and confiscate real assest when it busts.  Possible Keynesian Solutions and Ideal Georgist/Biblical/Classical Solutions offered.

Obama’s solution for the Depression is supply-side economics, whose champions claim that if the government cuts taxes on the wealthy, then the wealthy will invest in new factories, and hire new workers, thereby producing tax revenue.

Nonsense!

In the bad old days of the Soviet Union the police took surveys of the population to determine their limits. Today’s bankers are the equivalent of Joe Stalin