September 3rd, 2009
This is an extraordinary 26-minute video documenting criminal conspiracy between Goldman Sachs and the US Treasury with information in front of all of us to see:
If you’re not sure about this criminal conspiracy absolutely against the public good and at the heart of our still-crashing economy severely affecting at least 100 million Americans (1/3rd of the nation is probably a conservative estimate), think for yourself:
1. Insurance companies, like AIG, were allowed unregulated gambling with credit default swaps (CDS) with people’s conservatively invested premiums. Banks were allowed to gamble with CDS also. Why would this be allowed?
2. Insurance companies could have been allowed to fail. If we wanted a bailout, those who purchased insurance could have been refunded their money. Banks could have been allowed to fail with deposits guaranteed and reorganized. Among the most public damaging and criminal options is for government “leadership” to give our public money by the trillions to the criminal gamblers and their “leadership,” along with bonuses to top executives to ensure their silence and allegiance against the public good.
3. If this isn’t a criminal conspiracy among an oligarchy of political and economic tyrants, what is it?
Don’t feel alone in a conclusion of criminal acts. Consider my e-mail to MIT’s Simon Johnson, former chief economist at the International Monetary Fund, who came to the same conclusion. Nobel prize winners and Pulitzer journalists are also writing with passion that these are the largest economic crimes in the history of the planet.
In a message dated 4/7/2009 10:20:22 A.M. Pacific Daylight Time:
Hello Dr. Johnson,Thank you for your adroitly titled article, “The Quiet Coup.” I’m writing for your consideration and action for a reform you point to and an obvious next step: monetary reform. I’ll do so in the following two paragraphs. First, it’s useful to put your article in context of those with the intellectual integrity and moral courage to state the facts clearly and point to the obvious conclusions of our economic and political “leadership.” Second is to introduce monetary reform: the transfer of money-creating power away from the banking industry and authorizing it to government for the creation of public goods and services, and the direct payment of taxes. The cost-benefit analysis of this transfer is ~$1 trillion/year for the benefit of the public. And yes, I invite your inspection of that astounding figure.As you know, you’re among a growing group of experts speaking out. Chris Hedges and David Cay Johnston, with Pulitzers in 2002 and 2001 respectively, write with similar perspective (Hedges: “Resist or Become Serfs” and Johnston: “Free Lunch”). Nobel Laureate Joseph Stiglitz and eminent economist Jeffrey Sachs run the numbers of the current so-called bailout plan and point out the transfer of wealth from taxpayers to oligarchs. William Black, the senior government regulator of the S&L crisis, who Economics Nobel Laureate George Akerlof hailed as the world’s leading expert for understanding how the banking and financial oligarchs loot the public, was just interviewed by 30+ Emmy-winning journalist Bill Moyers. Black poignantly labeled the bailout as “criminal fraud” and “the entire strategy is to keep people from getting the fact,” and that the Bush and Obama Administrations are blatantly breaking the law by refusing to enforce bank insolvency laws. Transcript. For analysis, see here, here, here, and here. Elizabeth Warren, Harvard law professor and in charge of Congress’ oversight of TARP will request removal of financial executives.You point to the two clear answers of replacing the banksters from power and reforming the current banking system. Monetary reform maximizes the public benefit of reform. The American Monetary Institute is the nation’s leading organization for education and research on this topic. Executive Director Stephen Zarlenga’s two-page summary. My summary and sourced background quotes showing the US history of this idea beginning with Benjamin Franklin and including many of our brightest minds. Congressman Dennis Kucinich is the leading advocate in government for monetary reform, and Ron Paul has many of the right ideas but advocates the unnecessary and dangerous variable of linking money to a commodity. This reform is supported by the Green Party, the Constitution Party and Libertarians. The only ones in support of the current system are the oligarch’s political arms who dominate policy in the Democratic and Republican parties. Monetary reform is the strongest answer for restructuring our monetary system. Please review the above briefs: res ipsa loquitur, the facts will speak for themselves.My background is education and lobbying. I’ve contributed to briefings for Congress, two Presidents, and two UN Summits. I’m happy to brief you further at your request. I’m sure Congressman Kucinich, economist Michael Hudson, and the most experienced researcher I know, Stephen Zarlenga, would be willing to participate.Your partner for economic competence,Carl HermanAs always, please forward to whomever can benefit. Please act as you find most powerful.