Trillion Dollar Cat Shit Coin

I posted this on my other blog.  From now on I’m going to post the more “political” posts over on this blog for the time being and rework the montana maven site.

The Trillion Dollar Cat Shit Coin » Counterpunch: Tells the Facts, Names the Names.

A easy to understand explanation of the platinum coin and how it exposes our corrupt monetary system.  Who controls the monetary system determines who has power.  If private bankers control it, then they use it to create war for profit and use it to speculate and cause one bubble after another.  If the people control it, then they can use it for social good like health care, education, and decent housing that should not be profit driven.   The people in partying in D.C. do not want you to know any of this and so they scoff at the platinum coin idea.   Fiddle de dee.

Why Plumbers are Smarter Than the Ben Bernank

HELP!

Matt Taibbi has a link to a priceless animated cartoon by ZeRO HEDGE.  It is a must see.  Two Bears explain what Ben Bernanke (They call him The Ben Bernank) is up to in doing this “quantitative easing” deal.  The bears say QE is “printing a ton of money”.  But Taibbi thinks the big deal is the continual funneling of money to Goldman Sachs.  Watch the two bears and you will finally understand what is going on and it’s not pretty.

http://www.rollingstone.com/politics/matt-taibbi/blogs/TaibbiData_May2010/233953/83512

QE is designed to buy Treasuries and other assets, but the Fed does not simply go out and buy Treasuries itself; it does it through its primary dealers, who include of course banks like Goldman, Sachs. The Fed all but announces when it’s going to be doing this buying and in what quantity, which allows the banks to buy up this stuff at lower prices ahead of time and then sell it to the Fed at inflated cost.

Watch the bears explain why “blowing up the whole world” is not the change we can believe in.  One bear asks, “Is this an episode of the “Twilight Zone”?”

Maybe, but for sure we are all on ‘Mr Toad’s Wild Ride” with the ride operator on a permanent break.

“Soak the Fat Boys”

(Cross posted at correntewire.com)

Doug Henwood’s latest issue of “Left Business Observer” is out. (Subscription is $22 a year for 11 issues.) Henwood wrote the visionary book “Wall Street” in 1997 predicting this mess we are in now. Henwood reminds us that in “All the King’s Men”, Willie Stark is urged not to speak so wonkish and instead just say that “he’s gonna soak the fat boys.”
Why should we soak ’em? We’ve had the lowest growth in 80 years. And Henwood points out that the economy is arguably weaker than the Great Depression. The Depression “was preceded by a serious boom…and while the 1920s expansion was hardly short on froth, it also put the radio and the automobile into wide circulation. The 2001-2007 expansion gave us little more than some empty subdivisions outside Vegas and see-through condos in Miami.” Continue reading