Lee Camp knocks it outta the ballpark with this week’s Moment of Clarity!
Remember when the first rumblings of a global financial meltdown started emanating from Iceland, when their deregulated-to-the-bare-bones banks started collapsing? Well, Iceland has done what the United States has refused to do: prosecute the criminals behind the collapse and send them to the clink:
Two former executives at an Icelandic bank which collapsed in the 2008 financial meltdown were sentenced to jail on Friday for fraud which led to a 53 million euro loss, in the first major trial of Icelandic bankers linked to the crisis.
All three of the small North Atlantic island’s top banks collapsed in quick succession in October 2008 due to big debts incurred during a rapid overseas expansion.
Glitnir was the first to fall after the collapse of Lehman Brothers caused international credit markets to freeze up.
A Reykjavik court sentenced Glitnir’s former chief executive, Larus Welding, and former head of corporate finance, Gudmundur Hjaltason, each to nine months in jail, of which six months were suspended for two years. They had denied the charges.
Prosecutors said the two approved a loan to a company which owned shares in Glitnir so that the company could in turn repay a debt to Morgan Stanley.
WATCH and see if any of these crooks remind you of anyone on Wall Street? (story continues below):
But here in the States, we’re greeted with a barrage of opposition to any kind of prosecution of the crimes of the bankster class, with the fear mongering argument that prosecution would trigger a second, even more harmful collapse.
Most of the level-headed public knows this stance is complete and utter bullshit, and Camp nails it in his analysis:
“When it all comes crashing down, we’ll prop you back up, Mr. Wall Street, like Weekend at Bernie’s, if Bernie were a fucking asshole, and then we’ll give you a bulging bonus. This is America, goddammit, socialism for the rich when they want it, prison for the poor.
“And in case you’re curious about the number of U.S. Justice Department prosecutions of masterminds behind the pillaging of our country…zero. Although some did find themselves in Obama’s cabinet, so, that’ll show ‘em.”
As The Stew’s motto claims: “We serve it, even when it’s hard to swallow…”
WATCH (contains adult language):
About Beth
http://www.gata.org/
Hey Stewies!!
If nothing else unifies this country, then our collective hatred for the banksters certainly does; unfortunately, this administration – like all the others that preceeded it – are controlled lock, stock and barrel by Wall Street. No one need look any further than Eric Holder’s slap on the wrist to HSBC and Obama’s sanctioned immunity for all the bankers from the robo-signing crises that came just before.
The OWS movement – though righteous in it’s cause – was entirely impotent to yield any significant results. As Alexander Haig once said: “Let them march all they want as long as they pay their taxes”. This sort of hubris and arrogance exemplifies this government’s ‘turn the other cheek’ attitude from the criminality on Wall Street as government and business work hand-in-hand in a mutually beneficial way to empower the other. That in essence is ‘Fascism’
Now I’m just a looney Libertarian and I know as such, my ways are strange to most of those on the Left – but let me offer a suggestion. The American people all have it in their power to reek retribution onto the banks and bring them to their knees by doing a very simple task: Buying just a handful of precious metal in it’s physical form.
Oh I know I know; that talk of precious metals and gold standards are like kryptonite to my Lefty friends but hear me out. JP Morgan and HSBC have very large ‘short’ positions in precious metals and they maintain these to keep the dollar relevant and the real price of metals weak. These positions have been publicly admitted to be hypothecated 100 to 1. What does this mean? Well for every ounce of real metal there is on the exchange there are 100 paper claims to it. This in essence keeps the dollar relatively strong and suppreses the price of gold and silver for the purpose of investors not fleeing into those safe havens but rather into Wall Street’s preferred investments – specifically the equity markets or anything whose value is derived from ‘paper’ promises.
Now when people have these ‘paper claims’ to precious metals, most take their profits by just cashing out their positions; however, some ask for the real metal. Since the majority of paper claims cannot be satisfied by securing the real thing, investors are instead encouraged to take cash profits; when these same claims overburden the supply of actual metal, investors are ‘bribed’ to take a premium over and above their actual profits so as to not put an undue burden on the banks that don’t actually have the metal but rather an overexagerrated balance sheet showing that they do. It’s a simple supply and demand issue: The more of something you claim to have, the cheaper it’s market price. If the ACTUAL amount of ‘real’ and not ‘paper’ metal was acknowledged, then some experts have speculated that the real market value of gold right now would be anywhere from $50,000.00 to $100,000.00 an ounce. The owners’s of this country – the banks – do everything they can to suppress the price of metals as it is a bane to their fiat paper currency scheme.
Hokum you say? Well Germany and a slew of other countries have just asked the Federal Reserve of New York which is the custodian of most sovereign nation’s metal’s for their gold back. The Fed’s response? You’ll have to wait seven years or more before we can get it back to you. Why? Becasue they don’t have it! If they did it could be repatriated immediately!
You can verify all of this by doing your own research regarding the major bank’s near monopolized positions in precious metals. An excellent source to start this investigation would be to seek out the Gold Anti Trust Action Committee’s (GATA) extensive work on the subject. Please see the above attached link. The bottom line is this: If everyone in this country could be encouraged to buy just a few ounces or more of physical gold and/or silver, it would bring all the major banks to their collective knees because they would ultimately not be able to satisfy the claims for physical metal and this in effect would crush their short positions in the precious metals markets and they would then be forced to cough up the metal they didn’t have. Obviously, since this wouldn’t be feasible to pay investors in a commodity they didn’t have then this would cause a ‘Force Majuer’ and break the banks. If that wasn’t enough, at this point real price discovery would now be public knowledge and that handful of metal you possess would now be worth a small fortune. It’s TWO – TWO FUCK WALL STREETS IN ONE!
OR of course we could continue to bang our heads against the wall thinking that by somehow repeating our vain attempts at the legislative and judicial processes that this would ultimately yield results. What was that old saying? “Insanity is doing something over and over again thinking it will yield different results”. The aforementioned method would yield what we all – both Left and Right – ultimately want: The destruction of these ‘Too Big To Fail’ monstrosities.
After this is accomplished we could go right back to calling each other names and try to convince everyone that our idealogy was the correct one to pursue. Until then, ‘the enemy of my enemy is my friend”.
Gold and silver are absolute bargains right now as they are both considerably off their highs from previous years and both are expected to reach record levels in 2013. Destroy the banks and enrich yourselves in the process. Just remember, I get 10% of whatever profits you garner from this advice! HA!
LET THE LOONEY LIBERTARIAN BASHING BEGIN!! I welcome it!
Sir Rantsalot posts! Sound the claxon!!! Emergency staff meeting!!!
I LOVE how you think (erroneously) that our day comes to a screeching halt because you’ve posted a comment. That is hilarious, Mr. Looney Libertarian!
SCREEEEEEECH!!!!! Well maybe not a hard brake but definitely like going through a school zone! Get some metal Beth! Kick the bankers where the sun don’t shine and put some money in your pocket!!! This advice is the closest thing you Stewies will ever come to finding a genie in a magic lamp that will make all your wishes come true!