Towards A Better Tomorrow : Part 3 - The Biggest Heist In History!
After check out I realized I needed to just sit down and think things through.
Here I am, with a cart full of groceries, each and every item paid for with...
Little slips of debt borrowed against our children...
Little slips of debt I had accepted for my labors, but for what reason?
Yet these aren't really slips of debt are they? They're just paper with some printing on them. For my labor I had willingly accepted a complete fiction, a social contrivance. I willingly allowed myself, to be lied to. The government doesn't back dollars with anything.
Understand we're each living in a perpetual fiction, but all good things must eventually come to an end, especially bedtime stories.
Sure it says "Good Faith and Credit of the United States of America". Yet our government has never acted in good faith. Civil forfeiture, suspension of habeus corpus, creating banana republics, this list gets really, really long. Let's leave it at, the USA is most well known for NEVER acting in good faith.
As for credit, we ran out of that. We already spend way more than we get back in taxes.
But what the hell is money then?
The Federal Reserve System was created because fractional reserve banking instituted at the start of the industrial revolution allowed the literal creation of new money by banks on demand. Banks could accept a dollar for deposit and lend out ten.
It worked alright for about 75 years, but eventually led to a crisis in 1913 where there literally was not enough money circulating to satisfy demand and banks did not have enough cash on hand to print new notes. Rather than let people absorb the loss, the US Government created the Federal Reserve as a lender of last resort for the banks.
This lending activity is arguably necessary, for an economy to grow beyond it's basic constraints. But it also means we don't have money, we have a fiction we all agree to. If the fed were to burn to the ground tomorrow, people would find other things to trade, but the economy would implode in the process. Or would it?
Ever bounce a check? This is what happens whenever the economy "contracts", it's checks from the federal reserve bouncing.
The treasury is empty now. It's been completely tapped out since 2011 when we broke the debt ceiling.
What did that TARP bail out buy us? Callable warrants on stock for the banks, basically we can force them to dilute shares and give us stock, but I'll come back to that in a later posting.
But now banks are trying to weasel of the deal.
Supposedly most of the debt the banks took out under the Troubled Asset Relief Program was repaid, but to do so they literally just robbed their own customers! And they got off with little more than a slap on the wrist and a stern warning?
But Hey! Bonuses all around! amirite?
Yes this woman just made a "bonus" high enough to pay off the complete mortgages of over 1,000 homes and she "earned it" by encouraging her subordinates to literally rob the accounts of customers in order to generate more fees for the bank.
If instead of giving our money to the banks to "prevent economic collapse"...
If this money had been returned directly to the people, it would have been...
Over $150,000 for every man, woman & child in the USA!
You could buy a lot of house for that much money, let's be honest here!
So now we come full circle, we have upheld our end of the bargain. What TARP effectively did was provide a wealth transfer. This is the biggest bank heist in history. Over 100 years of debt on our children's backs, in exchange for warrants that are enough to create a majority share position in every major bank in the country. These funds were lent to the banks under the premise that they would lend these funds back to people and/or settle and write off major amounts of mortgage debt.
The banks instead used this money to acquire other banks and financial institutions and to fund major bonuses for executives. Then they paid this money back by generating "fees" using clearly illegal methods as in actually taking money from depositors accounts and then charging them overdraft fees for it.
There is a word for this under contract law. It's called "bad faith". Unfortunately the government is in the back pocket of these banks because the banks control the world's money supply.
We are worthless if we allow this.
So what can be done about it?
There's actually a lot we can do and I'm going to use the rest of Towards A Better Tomorrow to explain how we can claw back what is rightfully ours without a standoff, and without a single bullet being fired.
To be continued...
This is part 3 in Towards A Better Tomorrow I encourage you to read parts 1 and 2
https://steemit.com/life/@williambanks/towards-a-better-tomorrow-part-1-there-but-for-grace
Oh really, $150,000 for every person in America? That'd be over 45 trillion dollars... something doesn't seem right.
That could have been more clear. The 45 Trillion figure is correct. This is the amount given to the banks via TARP as well as the amount of tax breaks, credits and incentives to big business during the period 2007 to 2014. The amount is then amortized across the census data of 2010.
This series was originally a single very, very large post. I had to break it up into more logical and consistent units and when I did this, I realized I was talking about way too much at time. So further subdivision was needed. However I didn't go back through and adjust the numbers individually yet.
I will go back through and add citations for all this information and do some cross linking as I get all of this up.
It doesn't change my point though.
The point I was getting at, is that this is money that should rightly have been returned to the people since it amounts to little more than a wealth transfer from future generations of our children to current generations of our elites. That may not have been their intent, but it was the net effect.
Oh dang, that just seemed like such a ridiculously high number I assumed the math was wrong.
No worries. It is a ridiculously high number!
The source I was going to cite, is citing this as their source...
http://www.ctj.org/corporatetaxdodgers/sorrystateofcorptaxes.php
Notice we've given Disney $720 Billion in manufacturing tax breaks and incentives, all by themselves.
Yet somehow we still got John Carter shudder
The rich look after themselves, they forget about us and all governments are the same
Yeah we're going to fix that. We're going to do that by solving the problem of homelessness using the exact laws they paid to have passed. Wait for part 4.
Brilliant, would love to see the governments pay for what damage they have done.
Great project, it is time we stop playing their game. It's not gonna stop because we hope it does. Hope is not a plan.
Be your own bank, bet against the debt, and support your local economy...
Perhaps or maybe perhaps it's time we DO play their game. Thus far we haven't been active players. We've just been pieces on a chess board allowing ourselves to be moved by the "invisible hand". There is never an invisible hand, there is only your hand, or theirs.
@williambanks
Thx 4 posting
Part #3!
You're welcome and thanks for reading part #3!