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“In a gentle way, you can shake the world.”
– Mohandas Gandhi
Watching this great country being slowly crushed into a third-world plutocracy by the greedy and powerful is probably the most infuriating event in my life. Good people are being impoverished while bad people buy our government.
What makes it worse is seeing both of the political parties compete in demonstrating their sycophancy to Wall Street money. It makes elections virtually meaningless.
It’s enough to make a person surrender to despair.
But then I remember something important – the money that Wall Street uses to buy our government is our money. The power that Wall Street wields only exists because the people allow it.
All power originates from the people and we can take it back as easily as it was stolen from us. We can do it without firing a shot or shedding any blood.
The example for how to it is about to be set in Europe.
“First they ignore you, then they laugh at you, then they fight you, then you win.
– Mohandas Gandhi
The man speaking is Eric Cantona, a famous Manchester United football player. His explanation of the problem, and the solution to it, is so simple and easy to understand that I can’t improve on it. Perhaps his lack of economics background is an attribute rather than a detriment.
“We don’t pick up weapons to kill people, to start the revolution… the revolution is really easy to do nowadays. What is the system? The system revolves around the banks. It’s based on the power of the banks… so it must be destroyed starting with the banks. This means that the 3 million people with their placards on the street… they go to the bank, withdraw their money from the banks and these ones collapse. 10 million people and the banks collapse and there is not real threat, a real revolution. We must go to the bank. In this case there would be a real revolution. It’s not complicated. You simply go to the bank in your country and withdraw your money. If there are enough people withdrawing their money, the system collapses. No weapon, no blood, or anything like that.“
This wasn’t Cantona’s idea. The concept was first created on a German blog called All is Smoke and Mirrors and has since gone viral. The day set for this European Bank Run is December 7.
I see no reason why it shouldn’t be done in America as well.
Some may object because they see the exercise as futile. Others may object because of fear that it might actually succeed. I say that both groups are missing the point.
Our government and freedom is being undermined by a quiet coup. If you want to defend freedom in this country it is your patriotic duty to undermine Wall Street whenever and however possible. It is the moral thing to do. It is the right thing to do. If we’ve learned anything from the last two years its that saving the TBTF banks doesn’t necessarily help the economy. However, giving money to the TBTF banks does help the wealthy elite.
The power of Wall Street can be broken.
And it shouldn’t stop there.
There has been outflows from domestic equity funds for the last 28 consecutive weeks. That’s $86 Billion that Wall Street no longer has to use to purchase political influence with.
Mutual funds are the home of dumb money. It’s money that often comes in the form of 401ks and IRAs. It’s money that professional traders feast on. It’s money that shrinks in value even when the markets go up, and the markets have indeed gone up during the past 28 weeks despite the outflows. But the mutual funds are running out of cash to push the markets further.
That means that unless the “dumb money” doesn’t come back soon, they are going to have to sell into weakness. That would force the “smart money” to take big losses and not look all that smart.
While the rest of the country suffers through economic stagnation and high unemployment, Wall Street will be seeing record bonuses of $144 Billion. Because of the lower volume of dumb money flowing into Wall Street, the big banks are laying off staff. However, the greedy f*cks that are still there will continue to be overcompensated.
The comptroller, Thomas DiNapoli, also said that while it is too soon to predict bonuses, the average payout may rise because banks are shedding jobs and a smaller pool of people will be eligible to get bonuses.
So what then? After pulling your money out of the bank and cashing in your mutual fund, what are you supposed to do with your cash? Well, you can put it in a local savings and loan or credit union, or better yet you can use it to hurt Wall Street further while making a few bucks on the side.
Max Keiser is one of my favorites. He also has a great idea – if you want to destroy JP Morgan Chase then buy silver.
JP Morgan Chase has been manipulating the silver market for years through the derivatives market, but now they have found themselves overexposed.
The silver market, no stranger to controversy, has long been the focus of manipulation theorists. At a CFTC hearing Tuesday to consider new rules to strengthen its commodity-enforcement powers, commissioner Bart Chilton said market players have made “repeated” and “fraudulent efforts to persuade and deviously control” silver prices.
If everyone who read this essay went down and bought a couple ounces of physical silve, JPM could be brought to its knees.
JP Morgan Chase is one of the worst of the TBTF banks. This bank has been at the center of politically influencing Washington for more than a century.
Only a few banks dominate the derivatives market, and derivatives are the Wall Street tool for manipulating the markets. JPM is the leader in this casino.
There is a lot of righteous anger on both the left and the right these days. The corporate media tries to shape it into a partisan thing, but the reality is that the conflict is up-and-down not right-and-left. The Blue vs. Red thing is a meaningless joke.
A small group of oligarchs have taken control of our government and are stealing everything that isn’t nailed down. They are the enemies of all of us, whether you watch MSNBC or FOX or nothing at all. The oligarchs are only winning because they have us divided amongst ourselves and fighting battles that serve no real purpose.
If people can take a step back and realize who the enemies are, we can bring them down and return justice and freedom to America in no time at all. It all starts on December 7.
[Update: It appears that Max Keiser’s message is already catching on. This is from today’s Bloomberg:
Sales of 1-ounce American Eagle silver coins are headed for the strongest month since at least May, the U.S. Mint said.