The most fundamental of all human law is called “economic” or commercial law; it has to do with human survival, interactions, buying, selling or trading or relating in any way;
The principles and maxims and precepts of commercial law are supposed to be eternal, unchangeable and unchanging; and, expressed in biblical language in both the Old and New Testaments; and, upon these laws hang all Western rules; it forms the underlying foundation for all law and governments, the Law of Nations and everything that civilization is built upon;
Download annexure: APPLICATION OF COMMERCIAL LAW
Mosaic Laws
All Western commerce is founded on the Laws of Moses; and, all Western rules hangs upon the Laws of Moses, the Prophets and the Saints; and, there are 10 Maxims of Equity from the Bible;
Download annexure: 10 MAXIMS OF EQUITY
However, an evil system (as we reveal on these pages) has usurped the Mosaic Laws in favour of the Talmudic Laws of Babylon; and, this is why in today’s world we have the following situations which are an affront to equity and equality;
Growing Financial Inequality
The greatest inequality in the world lies in the divide between extreme wealth and poverty; And, global financial inequality is rapidly growing as Oxfam reports:
“The combined riches of 62 of the world’s most well-heeled individuals in 2015 equaled the wealth of 3.5 billion people — the bottom half of humanity — a new report about extreme global wealth inequality released showed. “Our economic system is heavily skewed in their (the wealthiest) favor, and arguably increasingly so,” Oxfam said. “Far from trickling down, income and wealth are instead being sucked upwards at an alarming rate.”
Oxfam added: “Rising inequality is a problem for all of us.”
Source: http://www.usatoday.com/story/money/2016/01/17/oxfam-wealth-inequality-report-davos/7892937
Now Just Five Men Own Almost As Much Wealth As Half The World’s Population
Source – commondreams.org
– “…In 2016 alone, the richest 1% effectively shifted nearly $4 trillion in wealth away from the rest of the nation to themselves, with nearly half of the wealth transfer ($1.94 trillion) coming from the nation’s poorest 90%—the middle and lower classes. That’s over $17,000 in housing and savings per lower-to-middle-class household lost to the super-rich”:
Now Just Five Men Own Almost As Much Wealth As Half The World’s Population – By Paul Buchheit
While Americans fixate on Trump, the super-rich are absconding with our wealth, and the plague of inequality continues to grow. An analysis of 2016 data found that the poorest five deciles of the world population own about $410 billion in total wealth. As of 06/08/17, the world’s richest five men owned over $400 billion in wealth. Thus, on average, each man owns nearly as much as 750 million people.
Why Do We Let a Few People Shift Great Portions of the World’s Wealth to Themselves?
Most of the super-super-rich are Americans. We the American people created the Internet, developed and funded Artificial Intelligence, and built a massive transportation infrastructure, yet we let just a few individuals take almost all the credit, along with hundreds of billions of dollars.
Defenders of the out-of-control wealth gap insist that all is OK, because, after all, America is a ‘meritocracy’ in which the super-wealthy have ‘earned’ all they have. They heed the words of Warren Buffett: “The genius of the American economy, our emphasis on a meritocracy and a market system and a rule of law has enabled generation after generation to live better than their parents did.”
But it’s not a meritocracy. Children are no longer living better than their parents did. In the eight years since the recession the Wilshire Total Market valuation has more than TRIPLED, rising from a little over $8 trillion to nearly $25 trillion. The great majority of it has gone to the very richest Americans. In 2016 alone, the richest 1% effectively shifted nearly $4 trillion in wealth away from the rest of the nation to themselves, with nearly half of the wealth transfer ($1.94 trillion) coming from the nation’s poorest 90%—the middle and lower classes. That’s over $17,000 in housing and savings per lower-to-middle-class household lost to the super-rich.
A meritocracy? Bill Gates, Mark Zuckerberg, and Jeff Bezos have done little that wouldn’t have happened anyway. ALL modern U.S. technology started with—and to a great extent continues with—our tax dollars and our research institutes and our subsidies to corporations.
Why Do We Let Unqualified Rich People Tell Us How To Live? Especially Bill Gates!
In 1975, at the age of 20, Bill Gates founded Microsoft with high school buddy Paul Allen. At the time Gary Kildall’s CP/M operating system was the industry standard. Even Gates’ company used it. But Kildall was an innovator, not a businessman, and when IBM came calling for an OS for the new IBM PC, his delays drove the big mainframe company to Gates. Even though the newly established Microsoft company couldn’t fill IBM’s needs, Gates and Allen saw an opportunity, and so they hurriedly bought the rights to another local company’s OS — which was based on Kildall’s CP/M system. Kildall wanted to sue, but intellectual property law for software had not yet been established. Kildall was a maker who got taken.
So Bill Gates took from others to become the richest man in the world. And now, because of his great wealth and the meritocracy myth, MANY PEOPLE LOOK TO HIM FOR SOLUTIONS IN VITAL AREAS OF HUMAN NEED, such as education and global food production.
—Gates on Education: He has promoted galvanic skin response monitors to measure the biological reactions of students, and the videotaping of teachers to evaluate their performances. About schools he said, “The best results have come in cities where the mayor is in charge of the school system. So you have one executive, and the school board isn’t as powerful.”
—Gates on Africa: With investments in or deals with Monsanto, Cargill, and Merck, Gates has demonstrated his preference for corporate control over poor countries deemed unable to help themselves. But no problem—according to Gates, “By 2035, there will be almost no poor countries left in the world.”
Bill Gates At 60: The Retrospective You Won’t See In The Mainstream Media
Warren Buffett: Demanding To Be Taxed at a Higher Rate (As Long As His Own Company Doesn’t Have To Pay)
Warren Buffett has advocated for higher taxes on the rich and a reasonable estate tax. But his company Berkshire Hathaway has used “hypothetical amounts” to ‘pay’ its taxes while actually deferring $77 billion in real taxes.
Jeff Bezos: $50 Billion in Less Than Two Years, and Fighting Taxes All the Way
Since the end of 2015 Jeff Bezos has accumulated enough wealth to cover the entire $50 billion U.S. housing budget, which serves five million Americans. Bezos, who has profited greatly from the Internet and the infrastructure built up over many years by many people with many of our tax dollars, has used tax havens and high-priced lobbyists to avoid the taxes owed by his company.
Mark Zuckerberg (6th Richest in World, 4th Richest in America)
While Zuckerberg was developing his version of social networking at Harvard, Columbia University students Adam Goldberg and Wayne Ting built a system called Campus Network, which was much more sophisticated than the early versions of Facebook. But Zuckerberg had the Harvard name and better financial support. It was also alleged that Zuckerberg hacked into competitors’ computers to compromise user data.
Now with his billions he has created a ‘charitable’ foundation, which in reality is a tax-exempt limited liability company, leaving him free to make political donations or sell his holdings, all without paying taxes.
Everything has fallen into place for young Zuckerberg. Nothing left to do but run for president.
The False Promise of Philanthropy
Many super-rich individuals have pledged the majority of their fortunes to philanthropic causes. That’s very generous, if they keep their promises. But that’s not really the point.
American billionaires all made their money because of the research and innovation and infrastructure that make up the foundation of our modern technologies. They have taken credit, along with their massive fortunes, for successes that derive from society rather than from a few individuals. It should not be any one person’s decision about the proper use of that wealth. Instead a significant portion of annual national wealth gains should be promised to education, housing, health research, and infrastructure. That is what Americans and their parents and grandparents have earned after a half-century of hard work and productivity.
The Ultra-Rich Hide 25 Percent of Their Wealth in Tax Havens
Jun 5 By Gabriel Black
A study released May 28 by University of California Berkeley economist Gabriel Zucman and two Scandinavian colleagues, “Tax Evasion and Inequality,” demonstrates that global wealth inequality is drastically underestimated in official statistics because of how successful the super-rich are at evading taxes.
According to the paper, the super-rich, that is the top .01 percent, hide some 25 percent or more of their wealth. This is primarily due to the exploitation of offshore tax havens that allow them to avoid paying taxes where their income is actually accrued, and where they actually live.
The study demonstrates, yet again, that the super-rich are a law onto themselves, living in a world completely separate from the vast majority of humanity. Earlier this year, Oxfam reported that only eight men control as much wealth as the bottom half of humanity. However, the findings of this new paper suggest that wealth concentration is even higher.
The authors of the paper write,
“The many data sets used in this article all paint the same picture: the probability to hide assets rises very sharply with wealth, including within the very top groups. As a result, offshore wealth turns out to be extremely concentrated. By our estimate, the top 0.01% of the distribution owns about 50% of it [offshore wealth].”
They conclude,
“this implies that the top 0.01% hides about 25% of its true wealth”
Zucman explained to the Los Angeles Times,
“There’s a big industry providing wealth management services for the super-wealthy all over the world. … Once you cross a certain threshold of over $50 million, you get offered those services.”
Source: hsbc.com
The study’s authors, Anette Alstadsaeter, Niels Johannesen and Gabriel Zucman, rely on several sources to make their analysis. The first and most important is leaked data from HSBC Private Bank (Suisse), the Swiss arm of HSBC, the sixth-largest private bank in the world. The data from HSBC Private Bank (Suisse), which was exposed in 2015, shows how the bank hides billions of dollars of taxable money for corporations such as Google and Amazon, as well as a variety of extremely wealthy clientele. The dirty stream of money exposed in the leak went as high as former US President Bill Clinton, and involved several billionaires and public figures.
Another source they use is the data from the Panama Papers, the massive leak of files from the Panama-based law firm Mossack-Fonseca in 2016. Those files showed how the law firm made millions of dollars helping politicians and the super-rich stash their money and hide it to evade taxation.
A third source they use is data from Norwegian, Danish and Swedish tax authorities showing households who voluntarily disclosed previously hidden assets in exchange for tax amnesty. Zucman, et al. were able to match assets exposed by the 2015 HSBC leak and the Panama Papers with government data in the Scandinavian countries. This method allowed them to understand the average amount of wealth the super-rich said they had versus what they actually had in undisclosed accounts.
The paper showed that in Norway, when offshore assets are added, the Norwegian super-rich show a 30 percent rise in income and the increase is likely to be higher in other countries.
“Because most Latin American, and many Asian and European economies own much more wealth offshore than Norway, the results found in Norway are likely to be lower than for most of the world’s countries,” the authors noted.
Zucman told the Los Angeles Times,
“There is good reason to believe that the very steep gradient [in tax evasion by the wealthy] is also the case in the US.”
According to the conservative figures of the Internal Revenue Service, which does not cover legal tax havens, $406 billion in taxes are unpaid every year. An investigation into the HSBC leak by the CBS News program “60 Minutes” showed that the Swiss bank run by HSBC had about 4,000 US taxpayers with wealth exceeding $13 billion.
The individual tax evasion highlighted in the report, however, is only part of a much broader phenomenon. Tax evasion in the US literally takes place on an industrial scale and is built into the business model of major US corporations.
It has been estimated that US firms hold about $2 trillion in cash on offshore holdings largely to escape paying US taxes—an amount roughly equivalent to 14 percent of American gross domestic product.
The most prominent example is Apple which holds $240 billion out of its $256 billion in cash reserves offshore in order to avoid paying taxes on this money if it repatriated it. At the same time, it borrows tens of billions of dollars in the US, much of it in order to finance share buybacks and dividend payments in order to boost its share value.
The operation of this seemingly perverse logic—borrowing money while having an ocean of cash on hand—is the outcome of policy decisions of the US Federal Reserve since the eruption of the financial crisis of 2008 aimed at boosting the wealth of the financial elite.
Source: nbcnews.com
Its policy of quantitative easing, which has pumped around $4 trillion into the US financial system coupled with the maintenance of ultra-low interest rates, means that Apple only has to pay interest ranging between 1.6 and 4.3 percent to finance operations that boost the value of its shares—far less than the cost in taxes that it would have to pay if it repatriated its overseas holdings.
As a result of these and other financial machinations, Apple’s total market value passed $800 billion earlier this year and is well on the way to the $1 trillion mark while the social cost of these operations is borne by millions of working-class families who are deprived of vital services because it is claimed that government has no money to pay for them.
Apple, however, is only the biggest example of a process which extends across the corporate world. Among the other big holders of overseas cash reserves are: Microsoft, with $113 billion; Cisco Systems, with $62 billion; Oracle, with $52 billion and Google’s parent company, Alphabet, with $49 billion.
These figures underscore the fact that tax evasion and the gains secured by the “malefactors of great wealth” are not the result simply of their individual actions but are the product of an economic and political order of, by and for the rich.
Featured image: credits to the owner
Now Just Five Men Own Almost As Much Wealth As Half The World’s Population
Source – commondreams.org
– “…In 2016 alone, the richest 1% effectively shifted nearly $4 trillion in wealth away from the rest of the nation to themselves, with nearly half of the wealth transfer ($1.94 trillion) coming from the nation’s poorest 90%—the middle and lower classes. That’s over $17,000 in housing and savings per lower-to-middle-class household lost to the super-rich”:
Now Just Five Men Own Almost As Much Wealth As Half The World’s Population – By Paul Buchheit
While Americans fixate on Trump, the super-rich are absconding with our wealth, and the plague of inequality continues to grow. An analysis of 2016 data found that the poorest five deciles of the world population own about $410 billion in total wealth. As of 06/08/17, the world’s richest five men owned over $400 billion in wealth. Thus, on average, each man owns nearly as much as 750 million people.
Why Do We Let a Few People Shift Great Portions of the World’s Wealth to Themselves?
Most of the super-super-rich are Americans. We the American people created the Internet, developed and funded Artificial Intelligence, and built a massive transportation infrastructure, yet we let just a few individuals take almost all the credit, along with hundreds of billions of dollars.
Defenders of the out-of-control wealth gap insist that all is OK, because, after all, America is a ‘meritocracy’ in which the super-wealthy have ‘earned’ all they have. They heed the words of Warren Buffett: “The genius of the American economy, our emphasis on a meritocracy and a market system and a rule of law has enabled generation after generation to live better than their parents did.”
But it’s not a meritocracy. Children are no longer living better than their parents did. In the eight years since the recession the Wilshire Total Market valuation has more than TRIPLED, rising from a little over $8 trillion to nearly $25 trillion. The great majority of it has gone to the very richest Americans. In 2016 alone, the richest 1% effectively shifted nearly $4 trillion in wealth away from the rest of the nation to themselves, with nearly half of the wealth transfer ($1.94 trillion) coming from the nation’s poorest 90%—the middle and lower classes. That’s over $17,000 in housing and savings per lower-to-middle-class household lost to the super-rich.
A meritocracy? Bill Gates, Mark Zuckerberg, and Jeff Bezos have done little that wouldn’t have happened anyway. ALL modern U.S. technology started with—and to a great extent continues with—our tax dollars and our research institutes and our subsidies to corporations.
Why Do We Let Unqualified Rich People Tell Us How To Live? Especially Bill Gates!
In 1975, at the age of 20, Bill Gates founded Microsoft with high school buddy Paul Allen. At the time Gary Kildall’s CP/M operating system was the industry standard. Even Gates’ company used it. But Kildall was an innovator, not a businessman, and when IBM came calling for an OS for the new IBM PC, his delays drove the big mainframe company to Gates. Even though the newly established Microsoft company couldn’t fill IBM’s needs, Gates and Allen saw an opportunity, and so they hurriedly bought the rights to another local company’s OS — which was based on Kildall’s CP/M system. Kildall wanted to sue, but intellectual property law for software had not yet been established. Kildall was a maker who got taken.
So Bill Gates took from others to become the richest man in the world. And now, because of his great wealth and the meritocracy myth, MANY PEOPLE LOOK TO HIM FOR SOLUTIONS IN VITAL AREAS OF HUMAN NEED, such as education and global food production.
—Gates on Education: He has promoted galvanic skin response monitors to measure the biological reactions of students, and the videotaping of teachers to evaluate their performances. About schools he said, “The best results have come in cities where the mayor is in charge of the school system. So you have one executive, and the school board isn’t as powerful.”
—Gates on Africa: With investments in or deals with Monsanto, Cargill, and Merck, Gates has demonstrated his preference for corporate control over poor countries deemed unable to help themselves. But no problem—according to Gates, “By 2035, there will be almost no poor countries left in the world.”
Bill Gates At 60: The Retrospective You Won’t See In The Mainstream Media
Warren Buffett: Demanding To Be Taxed at a Higher Rate (As Long As His Own Company Doesn’t Have To Pay)
Warren Buffett has advocated for higher taxes on the rich and a reasonable estate tax. But his company Berkshire Hathaway has used “hypothetical amounts” to ‘pay’ its taxes while actually deferring $77 billion in real taxes.
Jeff Bezos: $50 Billion in Less Than Two Years, and Fighting Taxes All the Way
Since the end of 2015 Jeff Bezos has accumulated enough wealth to cover the entire $50 billion U.S. housing budget, which serves five million Americans. Bezos, who has profited greatly from the Internet and the infrastructure built up over many years by many people with many of our tax dollars, has used tax havens and high-priced lobbyists to avoid the taxes owed by his company.
Mark Zuckerberg (6th Richest in World, 4th Richest in America)
While Zuckerberg was developing his version of social networking at Harvard, Columbia University students Adam Goldberg and Wayne Ting built a system called Campus Network, which was much more sophisticated than the early versions of Facebook. But Zuckerberg had the Harvard name and better financial support. It was also alleged that Zuckerberg hacked into competitors’ computers to compromise user data.
Now with his billions he has created a ‘charitable’ foundation, which in reality is a tax-exempt limited liability company, leaving him free to make political donations or sell his holdings, all without paying taxes.
Everything has fallen into place for young Zuckerberg. Nothing left to do but run for president.
The False Promise of Philanthropy
Many super-rich individuals have pledged the majority of their fortunes to philanthropic causes. That’s very generous, if they keep their promises. But that’s not really the point.
American billionaires all made their money because of the research and innovation and infrastructure that make up the foundation of our modern technologies. They have taken credit, along with their massive fortunes, for successes that derive from society rather than from a few individuals. It should not be any one person’s decision about the proper use of that wealth. Instead a significant portion of annual national wealth gains should be promised to education, housing, health research, and infrastructure. That is what Americans and their parents and grandparents have earned after a half-century of hard work and productivity.
Even public servants are speaking out;
Statistics – South Africa
Extracts from Mr. Pali Lehohla, Statistician-General of South Africa from the URL link: http://www.statssa.gov.za/ in the following article:
Why, What and How: Jabs for a successful Sustainable Development Goal (SDG) experience:
“We need a jab and a different jab, a revolutionary jab if the poor have to believe that a different future is possible, a jab that the modern world accepts that slavery is regrettable and never again, that colonialism is regrettable and never again, that Neo colonialism is regrettable and never again, that racism and sexism are regrettable and never again, that dictatorships are regrettable and never again, that self-aggrandizement of capital is regrettable and never again. Only when we commit to that in deed there is hope that the poor are not with always going to be with us, that the gluttonous executive pay and privilege will disappear, that concentration will be replaced by equity and the rich too can successful go through the eye of the needle. For that to happen we need a radical SDG implementation plan and action. We need a theory informed and monitored Programme. Finally while in god we may trust, all of us will need statistics to keep us on this narrow and radical path.”
…“This marks and perhaps should remind us of the mortification of globalization of race based discrimination which manifested itself in slavery, colonialism, Neo colonialism and current forms of coloniality.
…”It was Bhagwati who revealed the work of the invisible hand that the terms of trade did not only deteriorate but an immiserization of a section of the population, the agrarian sector, was produced and reproduced, so whatever growth occurred as a consequence of trade, more had to be produced in agriculture to pay for increasingly expensive industrial products.”
…”So we have seen how poverty has become an industry that is man made. Because “The poor you will always have with you” we the banks can generate pseudo riches by unsecured lending, because the poor we should create in order for us to always have the poor with us. The 2008 financial crisis which for no better word Chairman Alan Greenspan ascribes to an animal spirit and indeed in the dotcom inspired financial crisis of the 1990′s he called this irrational exuberance are but some of the mechanisms by which the prophecy of Matthew is confirmed that the “The poor you will always have with you”.”
…“This is not through data revolution but asking penetrating questions as regards Who draws the benefits from this growth and perhaps by using data we can ask this hard, political economy revolution rendering questions.”
…”The notion of an information society resonates with a market economy and certainly not with a capitalist society. The crisis of capital is now driven by information technology, the lumpen and ordinary citizens who are asking the question. Chairman Alan Greenspan opines in the second IMF statistics and data session that if the current path does not change a more serious specter may emerge, and may I paraphrase a prospect of war dare I say.”
… “…to believe that a different future is possible, a jab that the modern world accepts that slavery is regrettable and never again, that colonialism is regrettable and never again, that Neo colonialism is regrettable and never again, that racism and sexism are regrettable and never again, that dictatorships are regrettable and never again, that self-aggrandizement of capital is regrettable and never again. Only when we commit to that in deed there is hope that the poor are not with always going to be with us, that the gluttonous executive pay and privilege will disappear, that concentration will be replaced by equity and the rich too can successful go through the eye of the needle. For that to happen we need a radical SDG implementation plan and action. We need a theory informed and monitored Programme. Finally while in god we may trust, all of us will need statistics to keep us on this narrow and radical path.” [emphasis added]
Not only is the system creating poverty, it is also showing the hallmarks of a meltdown as reported by economic and financial experts in their fields. South African media is well blanketed
Financial Crisis
Lord Mervin King is a professor of economics and ex-governor of the Bank of England and explains why “The crisis was a failure of a system, and the ideas that underpinned it, not of individual policymakers or bankers” in the following post published in the Business Section of The Telegraph newspaper, UK, 27 February 2016 he wrote:
Lord Mervyn King: why throwing money at financial panic will lead us into a new crisis
“The crisis was a failure of a system, and the ideas that underpinned it, not of individual policymakers or bankers”
‘A world out of balance’ – “The most obvious symptom of the current disequilibrium is the extraordinarily low level of interest rates”
‘Spotting cracks in the surface’ – “The world recovery since the crisis has been neither strong, nor sustainable, nor balanced”
‘Stretched central banks’ – “Central banks are trapped into a policy of low interest rates because of the continuing belief that the solution to weak demand is further monetary stimulus”
‘a solvency crisis?’ – “Only a recognition of the severity of the disequilibrium into which so many of the biggest economies of the world have fallen, and of the nature of the alchemy of our system of money and banking, will provide the courage to undertake bold reforms.”
“Many countries can now see that they have taken monetary policy as far as it can go. The weakness of demand across the world means that many, if not most, countries can credibly say that if only the rest of the world were growing normally then they would be in reasonable shape. But since it isn’t, they aren’t.”
Who is Lyndon LaRouche?
LYNDON H. LAROUCHE, JR. emerged, over the course of the 1970s and 1980s, to rank among the most controversial international political figures of his time. This controversy, which also features such related issues as his efforts to destroy the international drug traffic and his initiating role in formulating what President Ronald Reagan announced on March 23, 1983 as the Strategic Defense Initiative (SDI), is principally rooted in not only domestic U.S., but, also, global political-economic issues.
LaRouche As an Economist – Both Lyndon LaRouche’s standing as an internationally known economist, and his exceptional successes as a long-range forecaster, are the outgrowths of his original discoveries of physical principle, dating from a project conducted during the 1948-1952 interval.
Stop Hiding the Disaster – Face It and Take Responsibility
The collapse of the financial system can no longer be hidden from the populations of Europe and the US. The bankers have panicked — expanding QE money printing, negative interest rates, banks buying their own stock to maintain an appearance of solvency, and talk of “helicopter money,” as if money was the problem. It is not about money, but about the collapse of the real economy. The suicide rate among formerly employed skilled workers is not about money – it is that they have been pushed aside by a satanic policy which cares only about money, not human beings.
https://larouchepac.com/20160321/stop-hiding-disaster-face-it-and-take-responsibility
Investment Research Dynamics & Kranzler Research
John H. Kranzler is Professor and Director of the School Psychology Program in the School of Special Education, School Psychology, & Early Childhood Studies. He has taught classes in school psychology, learning and cognition, measurement and evaluation, theories of intelligence, psychoeducational assessment, statistics, law & ethics in psychology, and individual differences. His main area of scholarly interest concerns the nature, development, and assessment of human cognitive abilities.
The System Will Implode When Central Bank Intervention Fails
…The Swiss National Bank admitted that it has spent $470 billion on currency manipulation since 2010. Given the Fed’s refusal to disclose any information about its currency swap programs – including denying all FOIA requests on this matter – there can be no doubt that the Fed has been actively funding the SNB’s endeavors. The same goes for the SNB’s huge U.S. stock portfolio, which includes insanely overvalued gems like AAPL and AMZN.
We are witnessing the western Central Banks’ last gasp at preventing total systemic collapse. The Fed et al were able to defer this event in 2008 with many trillions of direct money printing – deceptively marketed as “Quantitative Easing” – and many more trillions of direct Government income and spending subsidization. After all, a Government willing to underwrite and guarantee 3% down payment, subprime credit mortgages is creating nothing more than a form of “helicopter money” dressed in drag.
https://education.ufl.edu/faculty/kranzler-john/
Michael Krieg from Libertyblitzkrieg.com: “I took a job at Lehman Brothers where I worked with the Oil analyst in the Equity Research Department. In 2005, I joined Sanford C. Bernstein where I served as the Commodities Analyst on the trading floor. About halfway through my time there, I started to branch out and write opinions on bigger picture “macro” topics that no one else at the firm was covering. These opinion pieces were extremely popular throughout the global investment community, and I traveled around providing advice to some of the largest mutual funds, pension funds and hedge funds in the world.
I loved my job, but as time passed I started to educate myself about how the monetary and financial system functions and what I discovered disgusted me. I no longer felt satisfied working within the industry, and I resigned in January 2010. At that point, I started a family investment office and continued to write macro pieces on economic, social and geopolitical topics.”
http://libertyblitzkrieg.com/author/mkriegs/
Excellent Interview – A Brief History of Corporate Immunity
I’ve been saying over and over for years now that the number one cancer in American society at the moment is the disastrous and uncivilized two-tiered justice system. Nothing is more destructive to a society than the realization that a small group of people are above the law, while others remain fully exposed to its brutal and unyielding gavel. Until this situation is remedied, this country will continue to spiral down the oligarch toilet bowl.
For more on America’s Banana Republic justice system, see:
Further Proof the Justice Department is Protecting JP Morgan from Criminal Prosecution
Meet Loretta Lynch – Obama’s Attorney General Nominee Who Might be Even Worse than Eric Holder
Elizabeth Warren Confronts Eric Holder, Ben Bernanke and Mary Jo White on Bankster Immunity
The U.S. Department of Justice Handles Banker Criminals Like Juvenile Offenders…Literally
Meet Mary Jo White: The Next SEC Chief and a Guaranteed Wall Street Patsy
In Liberty, Michael Krieger
http://libertyblitzkrieg.com/2016/03/24/excellent-interview-a-brief-history-of-corporate-immunity/
Dean Henderson is the author of five books: Big Oil & Their Bankers in the Persian Gulf: Four Horsemen, Eight Families & Their Global Intelligence, Narcotics & Terror Network, The Grateful Unrich: Revolution in 50 Countries, Das Kartell der Federal Reserve, Stickin’ it to the Matrix & The Federal Reserve Cartel. You can subscribe free to his weekly Left Hook column at www.hendersonlefthook.wordpress.com
The Death of Competition: Oligopolies Unmasked
Regular readers have heard this warning on many prior occasions. We are facing an economic menace unparalleled in all of history: the Rise of the Oligopoly. While the majority of readers tune-out the moment they are exposed to this big word, this is one “big word” which people cannot afford to ignore – as the consequences of this word dominate nearly every facet of our existence.
OILIGARGHY: Neocolonial ‘Modus Operandi’, The End of Anglo-American Hegemony
By Dean Henderson
Not long ago, Chocolate Oligarchs and their fascist gendarmes seized Ukraine’s fertile wheat and barley fields, whilst bankster-funded Islamist rebels took Mosul & the adjacent Kirkuk oilfield – one of the world’s largest – for Exxon Mobil.
BRIC nations saw imperial over-reach and, led by Putin, busied themselves preparing for the slow-motion unraveling of the Anglo-American financial empire.
The Rothschild/Rockefeller/banking/energy/arms/drugs oligopoly that has enslaved humankind and decimated planet earth for the last few centuries is coming apart at the seams. The arrogance and stupidity of the self-proclaimed “illuminated ones”, who operate their matrix from the city of London, is being writ large for all to see.
Their Mideast gendarmes Israel & Saudi Arabia now falter.
Source:
https://hendersonlefthook.wordpress.com/2016/03/19/the-end-of-anglo-american-
Afrika: The Other Side of The Coin
A political and socio-economic commentary on Africa and its people by Udo W. Froese
South Africa’s Corporate Sector Can Ill Afford To Throw Stones From Its Glasshouse (Part 2)
“Ruthless, dishonest businessmen in South Africa have stolen assets of Randgold to the value of R21billion. Subsequently, others have prevented the minorities of the company from obtaining what is rightfully theirs. I cannot stand idly by and permit this to happen,” retired, former senior stockbroker at the Johannesburg Stock Exchange (JSE) and director of the mining company, Randgold, Johann Blersch, stated in his public address.
The Banks And The Mining Companies Accused Of Theft.
Blersch explained in a report published on March 13, 2007 in South Africa’s daily business newspaper, Business Day, “Randgold is the largest creditor of Johannesburg Consolidated Investments (JCI). The amounts owed by JCI to Randgold may exceed JCI’s net asset value.”
The above was executed during the time of Brett Kebble, from September 1997 to August 2007.
Under the watch of the various “controlling organs” such as the bank ombudsman, the various chambers of banks, of business, commerce and industries and mines, under the self-appointed captains of industries as well as under the department of finance under former minister Trevor Manuel and the former head of South Africa’s Reserve Bank, Tito Mboweni, billions were stolen and misappropriated.
Johann Blersch recorded, “In essence Brett Kebble stole from the one entity (Randgold) to fund the other three entities (JCI, Western Areas and himself and his family). Investec Bank received stolen Randgold Resources shares from JCI, which Investec then sold. As bankers to the Kebble Empire, Investec should have known that these shares were stolen. “
“Investec retained part of the proceeds of these shares in settlement of its loans to JCI. The balance was paid to JCI. From 1999 to 2005 Brett Kebble stole the bulk of Randgold’s portfolio and sold the shares for R1 900 million. Unchallenged forensic reports show that the initial recipients of the R1 900 million were (a) JCI R900 million; (b) Western Areas R500 million; (c) The Kebbles R400 million and (d) Investec R100 million”, Blersch reflected.
He further states, “The shares stolen from Randgold were sold for R1.9 billion. By the end of June 2010 the claim based on the Roman Dutch law against thieves, ‘condictio furtiva’, had reached R21 billion. When Barry Seargant’s book on the Kebble collusion was published, this figure had reached R26 billion and now stands at R30 billion.”
Author Barry Seargant documents Kebble’s theft in his book “The Kebble Collusion”. “It is the well-researched documentary of the world’s biggest unprosecuted fraud. In today’s terms it would amount to R30 billion. And, the cast is stellar: top financial institutions, leading bankers, a world where every other player is an attorney, a world where Brett Kebble was king.”
“It is incredible that none of the South African regulatory authorities has taken any effective action and that no prosecutions have taken place,” observes Johann Blersch.
Investigation into rand’s collapse starts
The Cape Times reported on 25 January 2016, By: Siyabonga Mkhwanazi
The investigation into the collapse of the rand has started, with the Competition Commission targeting six major financial institutions implicated in currency manipulation.
The commission confirmed that this probe would reveal the forces behind the depreciation of the currency in the last few years.
Spokesperson for the Competition Commission Itumeleng Lesofa said they had started the investigation. “The commission is unable to provide detailed information regarding the status of the investigation,” said Lesofa.
The probe was launched by Competition Commission head Tembinkosi Bonakele in May last year following a huge fine imposed by US and UK authorities on six major financial institutions involved in currency manipulation.
The US and UK regulators fined the six banks a total of $5.6 billion (R92bn).
JP Morgan Chase, Barclays Bank, Royal Bank of Scotland and Citigroup all pleaded guilty to foreign exchange manipulation.
Swiss-based UBS AG and Bank of America were also slapped with the multibillion-dollar fine.
US Justice Department top officials said for five years the banks had used chatrooms to manipulate currency prices almost daily.
Shortly after this Bonakele announced the same investigation in South Africa to get to the bottom of the collapse of the rand.
He said they had initiated investigations against BNP Paribas, Citigroup, Barclays Bank and JP Morgan Chase.
The commission was also investigating Investec and Standard Chartered Bank.
However, Lesofa would not give details on the investigations.
Bonakele said last year this investigation was in line with other probes in the US and UK.
It would unmask cartels where they operated. Their operations impacted on the value of the local currency and the Competition Commission would not tolerate this conduct.
In 2002 former president Thabo Mbeki launched a commission of inquiry into the collapse of the rand after ex-South African Chamber of Business chief executive Kevin Wakeford blew the whistle on currency manipulation. He fingered three major companies in the collapse of the rand.
Mbeki appointed the Myburgh Commission of Inquiry. At the time the rand had collapsed from R7.60 to R13.84 to the US dollar in 2001.
Wakeford warned that if this practice was not stopped, the rand would go down to R20, R30, R40 and possibly R50 to the US dollar.
However, the rand managed to claw its way back and regained 35 percent of its value. But in 2013 it sank again and breached the psychological barrier of R10 to the US dollar. Its collapse continued in 2014 and 2015, reaching new lows of R14 to the US dollar, and is currently at R16.48 to the greenback.
The ANC has been trying to find measures to rein in the ailing economy.
President Jacob Zuma and Finance Minister Pravin Gordhan are expected to announce some of the measures to fix the economy during the State of the Nation address in February.
Source: http://www.iol.co.za/capetimes/investigation-into-rands-collapse-starts-1975766
However, we know that this is only window dressing.
Giftoftruth Southern Africa 