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The Con of the Decade
Of Two Minds Blog ^
| 7/8/2010
| Charles Hugh Smith
Posted on 07/10/2010 9:48:52 PM PDT by delapaz
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To: delapaz
The circle is now complete: in "saving our financial system," the public borrowed trillions and transferred the money to private Power Elites, who then buy the public debt with the money swindled out of the taxpayer. Then the taxpayers transfer more wealth every year to the Power Elites/Plutocracy in the form of interest on the Treasury debt.Brilliant! The banks borrowed TARP money at 5% interest (plus warrants) so that they could buy 3 month T-Bills that currently pay 0.15% interest.
That's how they became the Power Elites/Plutocracy, by flunking out of math class. Moron.
21
posted on
07/11/2010 5:36:53 AM PDT
by
Toddsterpatriot
(Math is hard. Harder if you're stupid.)
To: delapaz
The first paragraph says it all. Nice gig if you can get it. I wonder if any on the left, any supporters, read and grasp this and still think it's a good idea?
22
posted on
07/11/2010 2:42:22 PM PDT
by
fortunecookie
(Please pray for Anna, age 7, who waits for a new kidney.)
To: FrogBurger
In 1889, Gustave Eiffel began to fit the peak of the tower as an observation station to measure the speed of wind. He also encouraged several scientific experiments including Foucault’s giant pendulum, a mercury barometer and the first experiment of radio transmission. In 1898, Eugene Ducretet at the Pantheon, received signals from the tower.
http://corrosion-doctors.org/Landmarks/eiffel-history.htm
23
posted on
07/11/2010 2:57:20 PM PDT
by
Richard Kimball
(We're all criminals. They just haven't figured out what some of us have done yet.)
To: Toddsterpatriot
No, the power elites got the money by giving pitifully small bribes in the form of campaign contributions. The congress passed this despite broad opposition from the public. The power elite got the money with no obligations. The taxpayer got the bill, with no benefit.
Think of the guys who steal $2500 air conditioners and sell them for scrap for $50. Since their cost was zero, they have $50 profit. The homeowner, OTOH, has a $2500 loss. The TARP, etc, was simply a legal way to do that. Legal, because congress writes the laws.
I'm no fan of anarchists, but one anarchist book had a pretty interesting claim: "There is no moral obligation to follow laws, because laws are written by the powerful to protect the powerful."
24
posted on
07/11/2010 3:04:46 PM PDT
by
Richard Kimball
(We're all criminals. They just haven't figured out what some of us have done yet.)
To: Richard Kimball
The power elite got the money with no obligations. Except the paying it back with interest (and warrants) part.
The taxpayer got the bill, with no benefit.
Except for the part about it getting paid back with interest (and warrants) and the benefit of not having the banking system collapse.
Think of the guys who steal $2500 air conditioners and sell them for scrap for $50. Since their cost was zero, they have $50 profit.
Except for the 5% interest cost (plus warrants) for the TARP money.
The TARP, etc, was simply a legal way to do that.
Exactly! A legal way to lend money and save the banking system.
I'm no fan of anarchists
Well you have that going for you.
25
posted on
07/11/2010 4:41:26 PM PDT
by
Toddsterpatriot
(Math is hard. Harder if you're stupid.)
To: delapaz
Soros...."give me what I want....and I'll make you President of the United States"
(cough...before I destroy both you...and it...cough)
To: Toddsterpatriot; Richard Kimball
The power elite got the money with no obligations. Except the paying it back with interest (and warrants) part.
Wow, a living, breathing tool.
Who do you work for? Or does your trust fund pay for your slavish posting endeavors?
Got any openings at Transnational Headquarters Inc?
Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.
27
posted on
07/11/2010 4:50:14 PM PDT
by
The Comedian
(Evil can only succeed if good men don't point at it and laugh.)
To: The Comedian
Interest too complicated for you too?
28
posted on
07/11/2010 4:51:44 PM PDT
by
Toddsterpatriot
(Math is hard. Harder if you're stupid.)
To: Toddsterpatriot
Interest too complicated for you too? Yeah, must be.
Who do you work for?
Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.
29
posted on
07/11/2010 4:59:23 PM PDT
by
The Comedian
(Evil can only succeed if good men don't point at it and laugh.)
To: Toddsterpatriot
Let's see, you're schooling people here in basic math and economics and they want to know who you work for?
LOL!
It appears summer school is in session.
30
posted on
07/12/2010 11:28:44 AM PDT
by
Mase
(Save me from the people who would save me from myself!)
To: Toddsterpatriot
Let's see, you're schooling people here in basic math and economics and they want to know who you work for?
LOL!
It appears summer school is in session.
31
posted on
07/12/2010 11:28:44 AM PDT
by
Mase
(Save me from the people who would save me from myself!)
To: Mase
I guess if I work for Goldman or the Fed, they’ll suddenly understand how interest is charged on loans.
32
posted on
07/12/2010 11:32:09 AM PDT
by
Toddsterpatriot
(Math is hard. Harder if you're stupid.)
To: Toddsterpatriot
I don't think there will be any understanding coming from your opponents, sudden or otherwise.
Math (along with many other things) is hard.
33
posted on
07/12/2010 11:40:38 AM PDT
by
Mase
(Save me from the people who would save me from myself!)
To: delapaz
You sound like you hate capitalism and hate america first. Everyone at FreeRepublic knows debt is prosperity and a country is only free and prosperous if they can generate “money” out of thin air.
Everyone knows that you have to listen to the bankers because they are smarter and better than us.
I think I speak for everyone at FreeRepublic when I say we need to respect proper authority and show reverence for those in power who think they are smarter and better than us.
34
posted on
07/21/2010 6:33:55 AM PDT
by
MichiganConservative
(A government big enough to do unto the people you don't like will get to doing unto you soon enough.)
To: Toddsterpatriot
Do you work for Soros or Goldman Sachs?
You are a total tool, but you like to point out how smart you are.
Therefore, you are evil, cause you probably are too smart to be ignorant and say the things you say.
How much are you making off the fleecing and destruction of America and the continued enslavement of the people?
35
posted on
07/21/2010 6:38:51 AM PDT
by
MichiganConservative
(A government big enough to do unto the people you don't like will get to doing unto you soon enough.)
To: MichiganConservative
you like to point out how smart you are Next to guys like you, you bet.
you probably are too smart to be ignorant and say the things you say.
Simple math still too difficult for you?
36
posted on
07/21/2010 7:43:18 AM PDT
by
Toddsterpatriot
(Math is hard. Harder if you're stupid.)
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