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[quote=”Phil13″] I am reading a book called “The Big Short” by Michael Lewis. Now, I know nothing about the market, bonds etc. but this book has convinced me that almost no one had a clue about what was happening before it all went down. Maybe I’m wrong or maybe that is exactly true, but it is an enjoyable and provocative read. If others more knowledgeable about these things would read it and offer their opinion, I would appreciate it.[/quote]
Without reading the book I can tell you that there are as many ways to scam others as there are men willing to do it.
Part of the reason for this current recession is due to different scams on different levels from mortgage writers scamming 1st time home buyers to Goldman Sachs trying to keep from holding the bag.
The percentage of people willing to scam others is very small but they generally do it for profit, fame or power.
The only defence is to learn everything you can about any type of transaction that you are considering and if it feels like it isn’t right don’t do it no matter what the potential payoff may be.
It’s one thing to lose a few $$$ to a bad loan or other inocuous transaction but if it involves more than you feel you can afford to lose, steer clear or find other experienced advice.
This is a terribly provocative subject because, by design, we are not meant to be knowledgeable about the workings of the world economy and when the incredible truth as to how it works is presented, it is almost unbelievable.
We have been presented for decades with an illusion, a very big lie, by those who own and direct the world economy. We are told that we are free and that we live and work in a free economy. The truth is that we are NOT free and we do not have a free economy. The latest manifestation of economic control has enslaved us for the last 80 years. That is not just an exaggerated complaint from some bitter, envious workers over the decades. In 1934, Henry Ford, a wealthy man and part of the class of Owners, said:
“It is well enough that the people of this nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”We don’t need to know all the complicated games that are played on the sidelines on Wall Street. All those games are merely minor techniques used to compliment the big, basic game which is as follows;
The Federal Reserve, a private company, creates money out of thin air. Most of this money is created in the form of electronic entries into bank account ledgers with some keystrokes into a computer. The remaining 3 or 4% is printed debit notes (dollars). This fake, invented money, created out of thin air, is lent to citizens who in turn work to create real, tangible goods and services in order to repay the loans. The true value of their production is never paid to them. Instead, via inflation, a myriad of taxes and loan interests, much of the value is skimmed and taken by the banks and by the government, a collection arm of the banks. The national debt is designed by the banks so that it will never be repaid.Today, in the U.S., banks own more homes than private citizens. Booms and busts are engineered by the money people, the Owners, in order to shake people loose from their property. And even after this latest bust, the game continues. A few years ago, the Federal Reserve created 700 billion dollars with some key strokes and then, with some more key strokes, sent it off to their minions as a tool to extract more real wealth from people. I hoped maybe that last act of theft might finally bring about that “morning revolution” Mr. Ford mentioned. Of course, it did not. I guess we are all too busy working to pay back loans to be bothered with revolution.
“The percentage of people willing to scam others is very small but they generally do it for profit, fame or power.”
The egos of men (and women) are a powerfully destructive force indeed.
[quote=”sprite”] I hoped maybe that last act of theft might finally bring about that “morning revolution” Mr. Ford mentioned. Of course, it did not. I guess we are all too busy working to pay back loans to be bothered with revolution.[/quote]
Full faith and trust in the American government.
I have been interested in economics, economic history and the effect of political decisions on the economy since John Kennedy’s tax legislation was passed in 1964 after his death.
I have written three articles on the economy, very simplified explainations of what happend over time since WWW II.
They can be found at:
[url=http://www.facebook.com/notes.php?id=1249220567¬es_tab=app_2347471856#!/note.php?note_id=314465136409]Economics, Part I: The Impact of Presidential Direction[/url]
[url=http://www.facebook.com/notes.php?id=1249220567¬es_tab=app_2347471856#!/note.php?note_id=317746691409]Economics, Part II: Why YOU are losing the economic battle[/url]
and [url=http://www.facebook.com/notes.php?id=1249220567¬es_tab=app_2347471856#!/note.php?note_id=323991761409]Economics, Part III: Political Philosophy and the Economy[/url]You may find them interesting.
Waggoner,
I read your articles and did find them to the point. I used to look at history mostly from a political standpoint. But politics, like religion, is just a secondary tool of control. It isn’t the primary tool and is not the source or cause for the need of control. The primary tool of control is money and the need for control is found in human behavior.So my focus lately has been on understanding the nature of money and how it is used to enslave populations. As for human behavior, I believe that it is subject to the same natural selective forces that apply across the board. But there is an interesting theory that humans have such power of intellect and environmental control, that they may be able to direct their own evolution. If that is true, the big question is whether or not we survive as a species long enough to beneficially adjust ourselves.
A popular movie made a few years ago on this matter viewed now by millions makes very good explanations about money, human nature and the economy of scarcity maintained by those in control to perpetuate their control.
http://video.google.com/videoplay?docid=7065205277695921912#I don’t find too many optimistic articles these days but I enjoyed the one I found this morning on this site’s home page;
https://www.welovecostarica.com/public/A_Single_Woman_Retired_in_Costa_Rica_44__Unexpected_gains_resulting_from_a_downsized_sustainable_Costa_Rican_lifestyle.cfm[quote=”sprite”]Waggoner,
I read your articles and did find them to the point.[/quote]You and I are looking at the same problems from different points of view.
The direction I have taken points out that it is the philosophy of those who you elect that determines the direction of your economic well being.
I believe politicians are totally useless to that end. They are not the ones in control of the economy rather they are the servants of those who are. Politics is a farce, a popularity contest, a show put on to distract us from the real issue. Note how every presidential candidate to make it to the ballot is a rich man who has the same desire to maintain the status quo as his opponent.
OMG HOW SICK AND TIRED I AM OF HEARING AMERICAN’S BITCH AND FLAP THERE PIE HOLE OVER HIGH TAXES…..ENUFF ALREADY….GO LIVE IN CANADA IF YOU DONT LIKE USA TAXES.
I WISH THEY WOULD INCREASE THEM ANOTHER 10% FOR THE TOP 5% WAGE AND PASSIVE INCOME EARNERS.
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