“Anything that is too big to fail is too big to exist.”

The Quiet Coup

The problem is oligarchs who overborrow, become too powerful, and gain too much influence:

“Wall Street ran with these opportunities [lightweight regulation, cheap money, securitization, interest rate swaps, and I would add, high frequency trading]. From 1973 to 1985, the financial sector never earned more than 16 percent of domestic corporate profits. In 1986, that figure reached 19 percent. In the 1990s, it oscillated between 21 percent and 30 percent, higher than it had ever been in the postwar period. This decade, it reached 41 percent. Pay rose just as dramatically. From 1948 to 1982, average compensation in the financial sector ranged between 99 percent and 108 percent of the average for all domestic private industries. From 1983, it shot upward, reaching 181 percent in 2007.

“The great [...]

Banks want us to trade carbon

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Banks want us to trade carbon.

Years from now historians will write about gullible leaders who go down in history as the ones who sold their nations to Goldman Sachs. Fools who thought they might look important trying to save the planet, but who instead were negligent, ignoring the science and slavishly committing their productive workers to pay tribute to a parasitic layer of financial houses.

Just as Woodrow Wilson came to bitterly regret setting up the US Federal Reserve. Josiah Stamp (1880-1941, Director of the Bank of England) warned us.

“Banking was conceived in iniquity and was born in sin. The Bankers own the earth. Take it away from them, but leave them the power to create deposits, [...]

Banking is not a secret but no one tells you how it works… it’s hard to get your head around it, but if everyone understood, some aspects would be outlawed tomorrow (just like they used to be).

Greens and bankers make strange bedfellows. The bankers know where the Greens are coming from, but the Greens need to find out why bankers, “the paper aristocracy”, are so keen to save the planet. It’s an unholy alliance.

This is the US Money Base graph. Base money is cash and reserves at the central bank. It’s a graph to stop you in your tracks, starting from 1918 and going up to this week. It took 90 years to grow the US money base up to about 800 billion dollars, then in four months from August 2008 it doubled. This is the parlous state of our “managed” paper currencies. Just as one fiat system collapses, some people want to set up another.

In a [...]