On a day witnessing such tremendous financial market volatility, this seems like the perfect story. The Bank of England has announced an “Open Forum” to be held on November 11, with the title: Building Real Markets for the Good of the People. No, I’m not making this up.
Here’s a screenshot from the BOE website:
We have to “build real markets?”
I think the following comments will come back to haunt Jamie Dimon. They represent the perspective of an out of touch, financial oligarch who is so consistently fed bullshit compliments by all those surrounding him, he has no idea how badly this will backfire in the long-run.
What Jamie Dimon doesn’t understand, is that people still hate the big banks. Half a decade into this oligarch theft marketed as an economic recovery, have you ever met a single person who didn’t harbor bad feelings toward the banks and the bailouts? I haven’t.
While Elizabeth Warren herself might not be personally popular across the political spectrum, her message on the banks is. If this message still resonates now, it will only resonate much more in the years ahead when the economy enters its next downturn. At that point, Mr. Dimon will be very sorry he made this comment.
You don’t want to poke Elizabeth Warren in the eye with a stick, and that is exactly what he just did. This was a really stupid move. One that can only be explained away by mindless hubris; something disconnected elites are famous for throughout history.
From Bloomberg:
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon took aim at U.S. Senator Elizabeth Warren, a critic of large banks, as he expressed broad concerns about leadership in Washington.
Over the past week or so, I’ve written several posts highlighting the dangers of “public-private” partnerships. This is the preferred term being used by savvy members of the status quo to provide cover for their relentless pursuit of economic fascism. It provides a good soundbite, but in reality is nothing more than a license to loot and pillage with government backing. Here’s how I described the scam in the post, Meet Cyber P3 – The U.S. Military’s Public-Private Partnership to Create Corporate/Government “Cyber Soldiers.”
It makes perfect sense if you think about it. If you’re a large corporation, there’s nothing better than guaranteed profits; and there’s no better way to guarantee profits than by going into business with the one entity that can do this: government. On the other hand, if you are an ambitious and greedy politician, what better way to earn a fortune while ostensibly engaging in “public service” than by lining the pockets of big corporations, which will then line your pockets in return in various opaque ways. Extraordinary fees for speeches is one preferred way of doing this, as is the classic revolving door that gives the person a cushy corporate job after leaving government.
This. Is. Sparta!
Yesterday, 21-year old Josephine Witt captured the world’s attention (and much of its admiration) for interrupting a press conference being held by the European branch of the global central banking cartel by sprinkling confetti all over ECB crime boss Mario Draghi. What was equally important, but didn’t make the headlines, was that just days earlier a 22-year old Illinois man committed suicide in front of the U.S. Capitol while holding a sign that said: “Tax the 1%.”
His death seems to have been, in part at least, a political statement. As such, people should pay close attention. While I don’t doubt the sincerity of his beliefs, I am troubled by the simplicity of the message on his sign because it reminds me of a phony political slogan. It likely demonstrates a deep ignorance of how the financial system actually works, and how the super rich exercise economic and political dominance.
Janet Yellen realizes that you can’t taper a ponzi. In Liberty, Michael Krieger Like this post? Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G Follow me on Twitter.
Mel Watt is one of the most dangerous financial oligarch puppets operating in America today. The first time he came across my radar screen was back in 2009, when he “gutted” Ron Paul’s End the Fed bill while it was in subcommittee, something I outlined in the post: Leverage in PE Deals Soars Despite Fed Warnings; Amidst Insatiable Demand for Risky Fannie Mae Debt.
Then in May of this year, I zeroed in on his latest authoritarian maneuver after being appointed to head the FHFA in the post: New Massive Federal Database to Hold Financial Information on Hundreds of Millions of Americans. Here’s an excerpt:
The German political party known as the AfD, or “Alternative for Germany,” first came to my attention a year ago. Upon reading about it, I became so interested in this new party (it has only been around since early 2013) that I composed a post titled: Anti-Euro Party in Germany Makes Significant Headway into Parliamentary Elections. Here’s an excerpt:
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*Update: A couple of people have made a stink about this post claiming that it is misleading because the prior agreed upon repatriation schedule has not actually changed. That said, anyone who reads the Bloomberg piece will quickly conclude that the article clearly implies something had changed, which is why I made this assumption. In fact, the source article was so misleading that Peter Boehringer, co-founder of “Repatriate Our Gold,” posted the following in the comment section:
What Mr. Boehringer makes clear, is that there is nothing “new” in the Bloomberg article. That of course is not to say that the repatriation schedule as it stands is not preposterous. It is, and he agrees with that wholeheartedly. So the reason for this update is clarify this one key misunderstanding. That doesn’t change many of the key points of the post. Those are:
1) The interesting observation that German officials and politicians continue to put so much faith in the Federal Reserve just as “End the Fed” protests spread through the nation.
2) The ridiculous notion that it is in any nation’s interest to liquidate gold for Central Banker created fiat, which can be conjured into existence in infinite amounts, at zero costs in no time.
3) That the politics on the ground of the ruling party seem to be shifting against repatriating the gold (that is clearly Bloomberg News’ take).
Just last week, I published a post titled, Video of the Day – “End the Fed” Rallies are Exploding Throughout Germany, which subsequently went viral. Interestingly, only a few days later we find out that Germany’s very own criminal political class has decided it will continue to store the nation’s gold in New York rather than bring it back home as had been the intention. It’s quite ironic that just as protests against the fascist Federal Reserve are spreading throughout the land, the political class officially decides to keep Germany’s treasure across the Atlantic, in care of none other than The Fed itself.
To be fair, this merely seems like a way for Angela Merkel and the rest of her German cronies to save face. After all, it was very clear that the Federal Reserve had already told them “no” when they asked for the gold back in the first place. Why else would it take almost a decade to transport the gold from the U.S. to Germany, which was the latest repatriation schedule. We learn from Bloomberg that:
Senator Bernie Sanders of Vermont is the longest serving Independent member of Congress in American history. While I certainly don’t agree with him on everything, I have always respected his willingness to call out the Federal Reserve for the fascist cartel that it is. He has often accurately called it “socialism for the rich.” Back in … Read more