Hudson: Systemic Change Please

Outstanding post, Fester. You da’ man.

[1] Michael Hudson says Obama has gone to the right of Michelle Bachmann.

Yes, Obama is Bush on steroids, and yet some idiots call him a socialist, and even a Marxist! Right-wing creeps call him an “arch liberal.” Incredible.

[2] Hudson noted that the European Right has become the opposition to Austerity, Bailouts and Privatization.

Yes, in Greece, for example, the conservatives oppose debt slavery, while the “socialists” favor it. Same with the “labor” party in England vs. conservatives (Whigs vs Tories.) Same with all European nations. The “socialists” are now radically anti-socialist. “Labor” parties are now radically anti-labor.

When the situation becomes insane (as ours is) things become reversed or inverted. The “left” becomes so “right” that the actual Right becomes Leftist by comparison. Evangelical “Christians espouse “peace,” i.e. perpetual war. “Freedom is slavery. War is peace.”

The problem is that most people allow themselves to be confused by this wordplay.

[3] Hudson says the Greek bailout is not designed to work. Its purpose is twofold. One is to give the bankers time to dump their bad bonds and loans. A second is to enforce Austerity, cut wages, and allow bankers to buy Greek infrastructure for pennies on the dollar. This will enable the bankers to set up toll booths everywhere charging the highest rates for declining service.

Exactly.

[4] Being a public figure Hudson cannot mention that Carlos Slim is Jewish.

Let me check into this. Slim’s heritage is supposedly Maronite Christian Lebanese. (Of course, Maronites are Eastern Catholics, and Catholics are totally Judified.) However Slim could be a crypto, or might have falsified his entire history. With a personal fortune of $75 billion plus, no one would dare question him.

Mexico City has about 40,000 Jews. Salvador Allende of Chile was a Jew, but a socialist Jew, which is why anti-socialist Jews (such as Kissinger) overthrew him.

Oh, and speaking of toll booths, Carlos Slim does not merely own property and telecommunications networks in Mexico (which have some of the highest price rates in the world). He also owns many highways that have toll booths in Mexico (and elsewhere in Latin America). He also wants to buy the telephone system in Honduras and elsewhere, for pennies on the dollar. Honduran president Manuel Zelaya opposed this, which is one reason (among several) why the USA sponsored the June 2009 coup d'état against Zelaya. The US and Latino plutocracy is especially enraged by Zelaya because he started as one of them, and then “betrayed” them by becoming a man of the people.

[5] Michael Hudson said the Left-Right class conflict of 19th century politics has been transformed into a war between bankers and the rest of us without respect to our race and economic status.

Yup. Great article, huh?

[6] The bankers are stealing everything from everyone. The political system has not adjusted to the new reality. Again as a public figure, Hudson does not mention the obvious fact that Lloyd Blankfein, Jamie Dimon, Ben Bernanke, Mervyn King, the Rothschilds and Blythe Masters are Jewish. Jewish group-think and ownership both of the media and of Gentile politicians to date has made the Jewish crime network of bankers immune to prosecution.

And don’t forget their ultimate get-out-of-jail-free card: the holo-hoax. 

By the way, I have long suspected that banks secretly forgive the college loans of Jews. Of course we can't investigate this, since we would be "anti-Semitic."

 [6] White Americans now have more in common with starving Africans and Latin Americans than they do with New York and London Jewish bankers.

Yes, but politicians distract from this reality by stoking racism among the White masses. (Standard divide-and-rule strategy.)

Politicians did the same thing during the 1930s depression with their “Mexican repatriation,” in which they arrested hundreds of thousands of Mexicans (many of them US citizens) and forcibly deported them to southern Mexico. Later when the USA declared war on Japan and Germany, and many Americans were sent overseas to die, the US government brought back those same Mexicans to work in US fields and factories (the Bracero Program) and to fight the Japanese in the Pacific Theatre. After the war, Whites once again turned against those same Mexicans.

The source of all this evil is the bankers.

[7] Almost all of the 50 American states and most of the big cities are facing bankruptcy which will force them to sell off their roads, parks, utilities, airports and other assets just like the Greeks.

Except for North Dakota, of course, since N.D. has a public central bank, and is therefore not crushed by debt. I lived in North Dakota for two years. I don’t recall ever seeing a toll both there.

[8] We need to learn the background and the language of people the Jewish owned corporate media had told us were our enemies. All of these people have a score to settle with the bankers. You just have to learn their history before you ask them to join the Anti-Banker party.

Black, White, Asian, Indian -- the bankers crush us all. Jews are in a separate category. They are not human.

[9] Their goal is your poverty and even your death. This is serious. Failure to resist the bankers and the evil forces they have unleashed upon the world will be fatal.

Absolutely. This is no exaggeration. I think I’ll do a graphic image in which I modify an old picture of the French Revolution. Instead of aristocrats being led to the guillotine, I will insert bankers in business suits. Hanging on the neck of each banker will be a sign saying “Chase,” “Citicorp,” “Wells Fargo,” “Goldman Sachs,” and so on. The crowd roars in approval as a long line of bankers are led up to the blade.

[10] Please be wary of bankers in sheep’s clothing. Warren Buffet owns a bank that launders Mexican drug cartel money and even leased planes for them. 80,000 Mexicans (not 40,000) have been killed in the drug wars that Buffet is financing. Herman Cain is a former Chairman of the Federal Reserve bank of Kansas City. These men are not your friends.

Yes, Wachovia alone laundered at least $378.4 billion in Mexican drug money from 2004 to 2007. Bank of America, Citigroup, HSBC, and Banco Santander also laundered drug money. These are hard facts, not rumors. No banker has ever been charged for this, let alone prosecuted or jailed.

Moving money is central to the drug trade. It is impossible to have an international enterprise without the involvement of banks. In the USA, couriers take the cash from US drug sales to Mexico -- as much as $29 billion a year, according to U.S. ICE, which would be 319 tons of $100 bills per year.

Herman Cain is pure evil. He is more right-wing than Faux News. He is what Malcom X would have called a “house Negro”: a Black who curries favor with Whites by betraying other Blacks.

As for Warren Buffet, I don’t think any of the protesters trust him. I hope not.

[11] The Income tax had to be passed to pay for the interest on the debt created by the privately owned Federal Reserve.

Yes, and also because the USA planned to get involved in World War I, which began a year later. At first the income tax was called “voluntary,” and was payable once a year. But Americans wouldn’t pay it, so the government started deducting it from every paycheck. The US government borrows money from private bankers to run the country. Income tax merely pays the interest on that borrowed money. 

There was no income tax at all between 1867-1893, and between 1895-1913. Under President Grover Cleveland the bankers engineered a short depression (the Panic of 1893) in order to get an income tax, but the masses rebelled, and the tax was rescinded within eighteen months.

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Fester, your post includes links to other articles, all of which are dynamite. I encourage everyone to check them out.

There is one thing in the articles that I agree with very strongly.

We have a moral obligation to pay our national debt. Wrong. Wrong. Wrong. We owe the banks nothing. We need to take back what they have stolen.

I AGREE! If I lend money to a personal friend, then the friend has a moral obligation to repay me -- but this moral obligation does not apply to societies at large!

When will the masses understand this?

Fuck-heads who are comfortable enjoy condemning people who walk away from their underwater mortgages. The idiots say, “They signed a paper, so they morally owe the money.”

Fuck you! Bankers are the lying thieves, you worthless moron! Bankers created the “liar loans” so they could bundle them into fraudulent securities and sell them worldwide. There is no limit to their crimes, yet many average people blame their next-door neighbors.

Put these morons in the guillotine line with the bankers!

But first....DISSOLVE THE FED!

Fester wrote: I wonder about the effects of repudiating the national debt and shutting down the parasitic banking institutions.  How enmeshed are our cities, states, and personal situations? 

They are totally enmeshed, but they can be disentangled. Cities, states, etc automatically adjust to whoever gives them money. Money is just paper, and credit is just ones and zeros in computers. If a state had a public central bank like North Dakota’s, then that bank would furnish money and credit. Soldiers and policemen serve whoever pays them. If we had a public bank that paid the soldiers and policemen, then they would serve us, not the bankers. 

It’s like we are living in a village that has only one water-well, and all of us must go to that single well in order to survive. Since the well is privately owned, the owner has the power of life and death over us. I say let’s crucify the owner and make the water-well public.

I want to stop and go off on a tangent here and make a point. Believe it or not, the Nazis privatized the Reichsbank. How could that be a good thing, when I constantly ril against private ownership of central banks? If the government retains control, as the Nazi government did, then private ownership is preferable, because monetary policy is not subject to the vicissitudes of politics. Hitler let Schacht run the Reichsbank, but the Nazi leadership had final say in fiscal policy. Later when Schacht went “Jewish” and started to play financial games (proto-derivatives), the Nazis removed him. Indeed Schacht wanted to become an international banker with supreme power, and he participated in the July 1944 bomb plot, which is why he ended up at Dachau.

That was the Nazi system. With normal governments, however, private ownership of the central bank is deadly.

My point here is that ultimately it doesn’t matter what system we have, or even if the bank is privately or publicly owned. What matters is who is in charge. In all social groups, the tenor and atmosphere of the group depends on its leadership. If the CEO is a creep, then everyone below him in the company will be a creep, or will have to cope with creeps. Hitler was a genuine leader who loved Germany more than he loved himself. Under a strong and genuine leader, we can have private ownership of the central bank. Without such a leader, private ownership dooms us.

Even a communist society could work if it had a genuinely honorable leader.

I've heard Ellen Brown, Fitts, and others but not recently and I'm not a financial type.  Pre-globalization, our economy produced pension producing jobs and investment returns.  Was that model unsustainable?  Was it necessarily based on exploitation of third world resources?  What were the incremental changes in regulation that led to the "Greed is Good" model being unveiled?

No the model was not sustainable, since it was based on a debt-based money system, such that debt will always grow to the point where it destroys society. Borrowing our national currency from private bankers is insane.

Evidently the ancient Babylonians also had a debt-based system, but every few years they had a ceremonial “jubilee” in which all debts were erased -- whereon they started over. I suspect that Babylonian society finally went extinct because this jubilee custom was abolished. If so, then the moneychangers sucked all human energy, leaving nothing to sustain the real economy. Eventually a tipping point was reached that could not be reversed. I have no proof of this. It's a hunch.

Per your other comment, I think Western society is necessarily based on exploitation of third world resources. Even ancient societies (Egyptian, Roman, Greek) had slaves to work the mines and the fields. However, all societies throughout the world have had slaves. East and West. They still do, in the form of debt slaves.

It's unfortunate that human selfishness causes all societies to stratify into rich and poor. Just as there is a food chain in nature, so there is a food chain in human society. The rich feed on the poor, and they destroy anyone who tries to make the situation more equitable and sustainable (e.g. Hitler or Gaddafi).

What were the incremental changes in regulation that led to the "Greed is Good" model being unveiled?

In my opinion the major crisis began with the Reagan-Thatcher era, and exploded with the deregulation mania of the late 1990s. All systems in the universe, living or dead, from the whirling of electrons to the orbit of planets – all must be regulated, or they will self-destruct. When regulatory systems break down in our bodies, we die. By removing all the financial regulatory safeguards, the bankers created a fever, followed by a crash. They will not stop until we are dead. There will be no more journeys to space, no major breakthroughs in science or medicine, no groundbreaking advances or development of any kind, since all human energy is now devoted to paying debt (i.e. serving the bankers).

There’s nothing new in all this. It has happened  to societies before, many times. I’m sure there were people in ancient Rome who sounded the alarm when the empire was tottering, but they too were drowned out by the moneychangers. 

I just wish that more people today would at least recognize what’s going on. But for that to happen, we would need a higher percentage of the masses to give up their selfishness.