Tags: Banksters

Cronyism Pays – Eric “Too Big to Jail” Holder Triumphantly Returns to His Prior Corporate Law Firm Job

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Trying to determine Barack Obama’s most corrupt, crony appointee presents a virtually impossible task. Every single person he’s appointed to a position of power over the course of his unfathomably shady, violent and unconstitutional presidency, has been little more than a gatekeeper for powerful vested interests. Obama’s job was to talk like a marxist, but act like a robber baron. In this regard, his reign has been an unprecedented success.

All that said, if anyone is a top contender for the worst of the worst of the Obama Administration, it’s Eric Holder. As head of the Department of Justice, he was the one man who could’ve played an enormously positive role in American society, by punishing those responsible for creating the financial crisis that destroyed tens of millions of lives globally. Instead, he chose to actively protect the financial oligarchs and ushered in a tragic new era for these United States. One in which the world suddenly realized that the U.S. is little more than a glorified oligarchy. Essentially an aggressive Banana Republic armed with nuclear weapons and the swagger of a third world dictator.

Holder’s list of failures and evidence shameless cronyism are virtually endless. I’ve covered many of them on this site. Here are just a few:

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Three Former SEC Officials Write Letter to SEC Chief Mary Jo White Asking Her to Stop Protecting Corporate Cronyism

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In early 2013, before Mary Jo White was confirmed as the head of the Securities and Exchange Commission (SEC), I wrote a post predicting she would be a bankster codling fraud in the post, Meet Mary Jo White: The Next SEC Chief and a Guaranteed Wall Street Patsy. Here’s an excerpt:

Obama’s nominee to head the SEC, Mary Jo White, is just another gatekeeper appointed to make sure no one ever goes after the Wall Street crime syndicate.  As I have written about many times in the past, Obama does not nominate anyone to a high position of power in government who will not behave like a good little lapdog for Wall Street.

Despite Obama’s propagandist statement about how “you don’t want to mess with Mary Jo,” her background implies she will function as a useful servant to the financial oligarchs.  Forget for a second about that fact at her recent firm Debevoise & Plimpton LLP her clients included the usual suspects such as such as JPMorgan Chase & Co. (JPM), Morgan Stanley (MS), and UBS AG, but she is actually known as the prosecutor who popularized the “slap Wall Street on the wrist” approach.

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NYC Residents Will Pay $2-3k a Month for “Micro-Apartments” as Luxury Car Sales Outpace Regular Car Sales

Screen Shot 2015-03-02 at 11.23.29 AMIn the past five years, global registrations of the seven largest ultra-premium car brands–a group that also includes Aston Martin and Lamborghini–have surged by 154 percent, far outpacing the 36 percent gain in overall car sales worldwide. 

Rolls-Royce registrations have risen almost five-fold. Almost 10,000 new Bentleys cruised onto the streets last year, a 122 percent increase over 2009, while Lamborghini rode a 50 percent increase to pass the 2,000 vehicle mark.

– From the Bloomberg article: Hyper-Luxury Cars Are Now Selling Faster Than Normal Ones

It’s an oligarch’s world, you’re just living in it.

One of the main reasons “hyper-luxury” cars are outselling regular cars, is because all of the wealth gains from the oligarch recovery are going to, well, oligarchs. This has been a regular theme here at Liberty Blitzkrieg, and is further evidence that global policies implemented since the oligarch created financial melt-down, have been used to cover up its criminality, and further advance the status quo’s consolidation of wealth and power. A continuation of this trend presents the greatest threat to liberty, free markets and an evolution of human consciousness on the planet today.

First, let’s take a look at how the average standard of living in my hometown of NYC is being impacted by the oligarch recovery. From the New York Post:

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Annaly’s CEO Accurately Compares Central Bankers to Witch Doctors; Possible “Blood-Letters”

Screen Shot 2015-02-27 at 11.05.28 AMThe story of bloodletting is intertwined in the mysterious fabric of medical lore; it originated from magic and religious ceremonies. The physician and priest were one and the same since disease was thought to be caused by supernatural causes. Witch doctors and sorcerers were called on to drive out the evil spirits and demons. Bloodletting was a method for cleansing the body of ill-defined impurities and excess fluid. The early instruments included thorns, pointed sticks and bones, sharp pieces of flint or shell, and even sharply pointed shark’s teeth. Miniature bow and arrow devices for bloodletting have been found in South America and New Guinea. A small bloodletting instrument resembling a crossbow was once used in Greece and Malta. Wall paintings dating from 1400 B.C. depict the use of leeches for drawing blood from human beings.

– From a PBS article: A Brief History of Blood-Letting

On a conference call today to discuss the mortgage-investment firm’s earnings, the chief executive officer talked about “blood-letting,” a “popular prescription for many ills” until the late 1800s, and the similarly abandoned view that life could be created by spontaneous generation to explain her “healthy dose of concern” over the potential results of all the stimulus.

“My hope is that as policy makers of the world continue to prescribe their remedies for the ailing economic patient, that they do not render it worse off,” she said. “As with their predecessors, I suspect there is no doubt in the minds of our central bankers that they are the smartest they’ve ever been. Yet, I fear they are not the smartest they will ever be.”

– From the Bloomberg article: Annaly’s CEO Sees Central Bankers as Possible Blood-Letters

One of my greatest frustrations during the post-financial crisis period has been the unwillingness of the rich and powerful to call out central banking for what it is: financial slavery. While I accept that many are simply ignorant or brainwashed, there are plenty who know exactly what’s going on and are merely trying to make as much money as possible from the Federal Reserve created scam before the music stops. For those with influence in society, this is a highly unethical choice.

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The “War on Terror” Turns Inward – DHS Report Warns of Right Wing Terror Threat

Screen Shot 2015-02-20 at 11.38.07 AMWhat you are about to read from CNN is just the very beginning of the intentional demonization of a growing segment of the U.S. population that rightly believes the government is run by a collective of thieving, corrupt, immoral sociopaths. This isn’t speculation either, years of content on this site serves as definitive proof that this is true. Commingling dissent, violence and “right wing” ideology will be key in the ultimate division of government critics in these United States, and a successful attempt to scare people away from questioning a clearly degraded and parasitic status quo.

The writing has been on the wall for many years, and I’ve warned about this development on many occasions (links at the end). If Martin Armstrong’s model is correct, and the U.S. economy starts to move downward in fall 2015, dissent will spread across the land like brushfire and the status quo will call dissenters terrorists (they already did this during Occupy Wall Street). My advice to everyone listening is don’t fall for it, and instead unite together in order to achieve a peaceful societal and economic paradigm shift.

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Picture of the Day – The Moment Janet Yellen Figured it All Out…

Janet Yellen realizes that you can’t taper a ponzi.

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In Liberty,
Michael Krieger

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Post Crisis Scorecard – Global Debt Up $57 Trillion, 60% of American Jobs Created Are Low Level, Record Youth Living with Parents

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This morning, my Twitter stream was filled with some of the most outlandish bullish economic victory laps from pundits I’ve ever seen. The source was the monthly employment report, which showed a larger than expected increase in employment as well as higher wages. In addition, there was a huge upward revision to employment data in November. Interestingly enough, on the same day this report was released, several important articles came across my screen that make me as concerned as ever about the true state of the economy and where we are headed.

First, CNN Money just yesterday published an article titled: Obama Jobs: More Caregivers, Servers and Temps. Here are a few excerpts:

Got a job while Obama was president? Then there’s a good chance you are working in healthcare or food service or as a temp.

Those sectors were responsible more than 60% of the jobs created since Obama took office in January 2009.

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The Face of the Oligarch Recovery – Luxury Skyscrapers Stay Empty as NYC Homeless Population Hits Record High

Screen Shot 2015-02-02 at 11.20.14 AMNowhere is the fraudulent and criminal “oligarch recovery” more on display than in my hometown of New York City. Despite benefitting more than any other community from an enormous taxpayer bailout of the industry that destroyed the economy, financial services, the vast majority of the wealth has been allocated to a handful of oligarchs.

To make matters even worse, American public policy, if you can even call it that, has been to encourage overseas oligarchs to park billions of dollars in U.S. real estate that largely sits uninhabited. Manhattan is a perfect example of this unproductive behavior and misallocation of capital. I covered this theme last year in the piece, Introducing Ghost Skyscrapers – NYC Real Estate Goes Full Retard, where it was noted that:

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Occupied by Wall Street Part 2 – Creating CLOs to Bypass Regulations

Leon Black’s Apollo Global Management LLC, Carlyle Group LP and a unit of Credit Suisse Group AG have all taken steps in the past two months to create CLOs now that they may be able to refinance after the rules take effect in December 2016 without having to comply with the new regulations, according to three people with knowledge of the matter. The firms are trying to avoid a requirement to hold a stake in the funds they manage.

– From the Bloomberg article: Wall Street Creating CLOs That May Bypass Rules: Credit Markets

As the U.S. inches closer to a cyclical downturn within the secular theft up-cycle known as the oligarch recovery, the craftiest of financial oligarchs will be scurrying to position themselves as beneficially as possible while not missing out on any crumbs that remain ripe for the taking. As such, it behooves us all to pay increasingly close attention to their shenanigans. In this regard, we have some excerpts from the following Bloomberg article:

(Bloomberg) — Wall Street has another rule it’s trying to get around: regulations seeking to limit risk-taking by managers of collateralized loan obligations.

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Occupied by Wall Street – The Latest TARP Taxpayer Screw-Job is Revealed

Screen Shot 2015-01-28 at 1.25.20 PMThe Treasury-created market has benefited a few savvy investors, while saddling taxpayers with a loss. Three private funds, which the report didn’t name, have won almost half the shares available at auction, often netting either a profit on paper or on the resale, according to the special inspector general for the Troubled Asset Relief Program. The Treasury, which has held 185 auctions to date, said it has raised about $3 billion on TARP investments that were originally valued at $3.8 billion, for a loss of $800 million at the auctions.

The Treasury “set up this market where investors could come in quickly and flip and profit,” said Christy Romero, TARP’s special inspector general, in an interview.

– From the Wall Street Journal article: Hedge Funds, Private Equity Win Big at TARP Auctions

One story that I’ve told several times on this site has to do with the day TARP passed. How I got into work extremely early and starting irately yelling about how TARP represented the end of America as we knew it. There weren’t many people on the trading floor at the time, but my boss was there and he told me to take a “walk around the block.” I politely declined, but continued to seethe at my desk.

It’s almost shocking to see the horrific transformation that has occurred in the subsequent six years. It’s so bad, that many people now take things that would’ve been considered unconscionable just a few years ago as part of the “new normal.” There will be a horrible price to pay for this perspective.

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