Capital Crime of Finance Capitalism

Unkept Paper Promises

Money = Debt, or IOU Notes. The issuance of "I Owe yUo" notes by those who know they cannot honor them, or have no intention of paying them to the same value, is fraud.

Holders of Icelandic, Irish and Greek government and private debt in recent years have taken a haircut, been sheared like sheep. Holders of U.S., Japanese, U.K., Spanish, Italian, French IOU paper should be concerned.

Notes issued by the Bank of England denominated in pounds sterling carry the words “I promise to pay the bearer on demand the sum of …” However, if you go to the Bank of England and demand payment in pounds of sterling silver they will not give it to you. You will be stuck with the paper. And if the paper they issue becomes too large compared with the economy then inflation arises and the paper loses value vis-a-vis goods and services. However, the BoE is currently required to ensure that inflation in the U.K. stays around 2%, and if it doesn't the Governor has to explain to Parliament why not.
http://www.bankofengland.co.uk/banknotes/Pages/about/history.aspx  

Events in the economic world, especially since 2008, have seriously eroded any trust we may have had in the people who manage government and bank finances. An increasing number of people are now looking for alternate ways to manage their economic affairs. Governments, banks, and corporations are coming under closer scrutiny with more cases of financial jiggery-pokery being exposed almost on a daily basis.

We are now witnessing the demise of laissez-faire capitalism as Europe, U.S.A., Japan and other states attempt to stop the collapse by issuing bonds or through quantitative easing. But such attempts are bound to end in failure as the enormous debts run up by governments cannot be paid off without either exorbitant tax increases, phenomenal economic growth, or massive inflation. Raising government funds through privatization of public assets is essentially selling the population into the private hands of neofeudalism, as explained in my previous articles.  

Political leaders know this, or should do otherwise they are irresponsible. Financial criminals have been imprisoned in recent years. The debacles they have caused have become top political issues as politicians are intimately involved in the finance business and its regulation. However, politicians are, as ever, avoiding the radical changes necessary, while attempting to kick their very battered can of financial worms down the road a little further.

Their political can is full of holes, exposing financial worms grown very fat and ugly. And it looks like their performance is falling apart to the point of absurdity. But while this political laughing stock try to hold their financial can of worms together they are still not changing the underlying causes and thus the problems are growing bigger. Thus the collapse, when it comes, will be bigger than 2008, or 1929, in terms of its political, economic and social costs.

Revelation 8

¹⁰ And the third angel sounded, and there fell a great star from heaven, burning as it were a lamp, and it fell upon the third part of the rivers, and upon the fountains of waters;

¹¹ And the name of the star is called Wormwood: and the third part of the waters became wormwood; and many men died of the waters, because they were made bitter.

http://www.amazon.com/False-Dawn-Delusions-Global-Capitalism/dp/1565845927

http://www.bbc.co.uk/news/magazine-14764357

http://www.guardian.co.uk/commentisfree/video/2009/mar/09/capitalism-crisis-john-gray

Global Neofeudalism

For Neoserfs 

The term "New World Order" refers to a totalitarian world government.
http://rense.com/general85/global.htm

It is written in Latin on the rear of one U.S. dollar bills as Novus Ordo Seclorum.
http://en.wikipedia.org/wiki/File:1935_Dollar_Bill_Back_Early_Design.jpg

Many different terms have been used to characterize such a global system and its leaders. However, i've coined the term "NWOzi" which perhaps carries the pertinent meaning.  

Michael Hudson has explained the economic means whereby a global neofeudal system is being set up. I paraphrase some of his words below.
http://globalresearch.ca/index.php?context=va&aid=25676

The privatization by governments of basic infrastructure is done on credit. Private owners therefore factor in interest and financial charges, as well as awarding themselves huge salaries much higher than those paid by the public sector. They then use their monopoly or near-monopoly position to put gatekeepers and tollbooths everywhere - toll roads, gated communities, increased costs for water, utilities, sewerage and garbage disposal.

Without governments or civil servants fairly pricing essential public services and infrastructure projects in the interests of the public and taxpayers who pay for it all, the economy is drained by rent extraction and predatory charges by private corporations. Just as feudalistic landlords racked up rent on land and housing used by serfs to as much as they could bear, so charges for water, utilities, sewerage, garbage, and communications services are ratcheted up by private corporations.

We end up with a Mexican economy where the wealthiest person in the world became so through the privatization of telephone services and making Mexicans pay the highest prices in the world for those services. This neoliberal outlook claims that Greece and other such states can get out of their economic mess by letting private corporations take over their economies.

The novelty is that what before was done by military invasion, bloodshed, rape and pillage is now done by financial means. Politicians, representatives of a people, are persuaded or bought by foreign corporations, banks, or through international agencies such as the World Trade Organization, International Monetary Fund, and World Bank, to give the people and country they represent away. Demonstrators on the streets who don't like what their public servants are doing then find themselves facing not foreign invaders but their own police and military.

Michael Hudson's latest book, "The Bubble and Beyond" can be found here -

http://michael-hudson.com/2012/07/the-bubble-and-beyond/

Politicians such as Obama, Romney, Bill and Hillary Clinton, Tony Blair, Berlusconi, and their ilk, while playing into the hands of oligarchic interests call this democracy! They get away with this to the extent that most people do not know what is actually going on.

http://www.articlesbase.com/politics-articles/authoritarian-oligarchies-modern-day-feudal-rule-by-an-elite-few-3734567.html

The global coup is coming into clearer form, just as a tropical storm develops into a well-defined hurricane. It is better to be prepared for this worldwind than be taken unawares.

http://www.youtube.com/watch?v=-el85Amumvs

Matthew 4

King James Version (KJV)
⁸ Again, the devil taketh him up into an exceeding high mountain, and sheweth him all the kingdoms of the world, and the glory of them;

⁹ And saith unto him, All these things will I give thee, if thou wilt fall down and worship me.

Super-Financial Sewerage-System

Chronic Capitalism

Public works projects, health services, and even security and defense in the U.K. are being contracted out, privatized and entrusted to private corporations. Taxpayers' money is being paid into private hands to carry out public projects and services, ostensibly in the public interest through the entrepreneurial agency of their elected government. However, private corporate shareholders and managers seem bent on ensuring they take fat management fees, salaries, dividends and bonuses before any actual work or service is provided to the general public!

As with recent spectacular bank failures, taxpayer money has gone to support failed banks while their managers and owners have insisted on keeping fat salaries, fees and bonuses! G4S were paid to manage and carry out security services for the London 2012 Olympic Games, but the U.K. Army were brought in when G4S claimed they were unable to carry out what they'd been paid to do. However, they still insist on keeping management fees for their failed service!

There have been complaints about this corporate hijacking of public taxpayer money, especially as the bank and utility services concerned have not provided efficient or cheap services to the public. Rather their prices have generally risen while their services have deteriorated!

Essentially, what is happening can be called a "super-financial sewerage-system", or read "stinking corruption", as enormous quantities of public money are being transferred from a generally unaware, hijacked public through government collusion into FAT private hands!

Examples of this "super-financial sewerage-system" can be found globally. However, it appears to have "developed" in its present form through Anglo-Saxon business practices and government influence notably in the U.S.A. and the U.K.

Vicente Fox worked as a local distributor for Coca-Cola in Mexico from 1965, rising to assume presidency of its Latin American division within only eleven years to become the transnational corporation's youngest ever chief executive. He then became President of Mexico from 2000 to 2006. Coca-Cola had meanwhile gained give-away concessions for water resources in Mexico where it runs one of its most profitable operations at the expense of the local population's water resources and health.

http://killercoke.org/crimes_mexico.php

Carlos Slim, allegedly the world's richest man, made much of his fortune through crony capitalism in Mexico. Free to operate Telmex as a monopoly using his close ties to the ruling PRI party his business profited at the expense of the Mexican people. Telmex provides one of the worst connection rates in the world, while its telephone service charges are among the world's highest. Telmex's profit rate of over 40% gave a substantial boost to Slim's personal wealth.

http://www.forbes.com/sites/paulroderickgregory/2012/05/23/should-the-new-york-times-investigate-wal-mart-or-carlos-slim/

Not until August 2011 did Mexico's antitrust watchdog, Cofeco, begin to stir.

http://in.reuters.com/article/2011/08/31/telmex-mexico-idINN1E77U14S20110831

The rich are enriching themselves beyond even the wealth of some nations in this "super-financial sewerage-system", in which governments collude with corporate interests in the transfer of national resources, public services and taxpayers' money into private hands. Of course, Peter public and poor Pablo are in a tough position to complain as their water, utility, telephone and security services, in private and not in public government-servant hands, may be cut off at any time! Their elected government servants have gone and taken their taxes and sold them out instead of serving them directly with the services they need!

You need to be left with your own thoughts on this "super-financial sewerage-system". Will you be paying your share of taxes to a government which abuses your contribution in this way?

Taxpayers will have to dig deep to pay for London's £3.6bn 'super sewer'

http://www.guardian.co.uk/business/2012/aug/05/thames-water-tunnel-simon-hughes?CMP=twt_fd