“The Age of Entitlement is over” (Joe Hockey, London 2012). I asked Greg Buck what he thought of entitlements and how Hockey’s budget was effecting Australians. Greg explains how governments in the Western World have bastardized capitalism – into a Kleptocracy. Governments rejig the the free market and support the Welfare Queens and the Welfare Kings – and rob Pensioner Peter to pay Corporation Paul. The ‘cream’ are being supported by a free money Central Bank system to help us people (they say) to create jobs – but this money just does not trickle down. They have created crony capitalism – and the politicians are part of it.
And a recent article in Globalresearch exposes what we have been saying for some time: That our politicians in Canberra are selling Australia off to the globalists who are getting FREE MONEY from the Central Banks. Is this just theft in plain sight?
Finance is the new form of warfare – without the expense of a military overhead and an occupation against unwilling hosts. It is a competition in credit creation to buy foreign resources, real estate, public and privatized infrastructure, bonds and corporate stock ownership. Who needs an army when you can obtain the usual objective (monetary wealth and asset appropriation) simply by financial means? Dr. Michael Hudson, Counterpunch, October 2010
Central banks have the power to create national currencies with accounting entries – and they are traditionally very secretive. We are not allowed to peer into their books. It took a major lawsuit by Reuters and a congressional investigation to get the Fed to reveal the $16-plus trillion in loans it made to bail out giant banks and corporations after 2008.
What is to stop a foreign bank from simply printing its own currency and trading it on the currency market for dollars, to be invested in the US stock market or US real estate market? Or AUSTRALIAN real estate? What is to stop central banks from printing up money competitively, in a mad rush to own the world’s largest companies and taking Abbott and Hockey’s offer to sell off billions and billions of YOUR ASSETS.
Brilliant video, thanks Greg and Dee!
Biggest recipients of welfare are the big four banks. The Big Four Banks are amongst the most profitable in the world, but receive Government support worth an estimated $2.5 billion dollars every year. With profits of over 24 billion being sucked out of a population of only 24 million people, their power is clearly obscenely inflated. More competition is needed, ad it can begin with removing their government subsidies.
I am sharing this via FB
http://balancebanking.com.au/#.U6eGkJ9QrJQ.facebook
Well explained Greg. You really have to keep going with explaining this theme. It is the nub of the problem that people need to wake up to.
Interest rate manipulation is effectively stealing from savers to protect speculators in an economy that has become a casino; debt is socialised and profit privatised.
Capitalists produce something, add vale and increases productivity (Henry Ford, Thomas Edison, Bill Gates etc). Speculators do none of these things and they are not capitalists by definition – they destroy innovation as they don’t ‘invest’ in creating a product or a service. The share market used to be a way to raise money and share risk for innovation. It is now increasingly a way to raise money to create more funny money and debt. This takes money from companies that attempt real innovation and create something as they will never be as profitable as the unstable finance gravy train.
The market has been distorted because the fiat and instrument of the pricing mechanism (money) has become what it now sells, trades and manipulates – through the finance industry.
Our system is practically about as capitalist as George W Bush was a Christian! The only ‘trickle-down’ effect is from the flow of bullshit from the Tory politicians who promote crony capitalism and rent seeking. They are paid for by the same interests who have a vested interest in maintaining this house of cards.