Mike Rivero Talks Economics

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Michael Rivero gathers the world's news at least twice daily, at whatreallyhappened.com

  • Why are we even talking about a debt ceiling? Why is the Congress debating borrowing more money at interest from a private bank that simply prints it up when the US Government has the legal right to create their own money free of interest charges? Lincoln did it. Kennedy did it. Why won't Obama do it? Why?
  • You can never earn enough money to pay the debt in a system that by design creates more debt than money. So why bother trying?
  • Those who wonder why the economic systems of the world have ceased to serve the people and seem only to prey upon mankind in ever more ravenous predations need only to realize that most of the world's financial decisions are already made by computers whose programs have but one overriding goal; to seek more profit more quickly. The choice of whose idea gets funded and whose does not is often made by computer, as is the decision whose home to foreclose. The bankers are but human drones carrying out the directives of their inhuman controllers, who like the Frankenstein's monster have escaped all restraint are wander the countryside seeking only to feed its endless hunger. We are already a world ruled by computer.
  • The rich love nobody better than those who make them richer still.
  • Population does not cause poverty, private-central banks do. Reduce the human population to 10 million but keep private central banks and still the vast majority of those 10 million will live in poverty. What is being culled from the human herd is not the excess population, but merely that segment of the population from whom the bankers can no longer reap huge profits!
  • One day humanity will realize that rule by compounded interest is no more legitimate than rule by divine right or rule by chattel ownership of one’s body. It is just the latest in a long series of hoaxes to domesticate the human race and yoke them to the greed of the hoaxers.
  • So, yes, a revolution in the streets of America is now an inevitability. The money-addicts in Wall Street and DC have created a situation in which it is unavoidable. And as is the case in Egypt, the US military, openly abused on their mortgages by J. P. Morgan, will likely stand with the people.
  • Tyranny hides in complexity. Or hadn't you wondered why the tax code is the rats' nest it is?
  • The collection of great wealth and power into fewer and fewer hands inevitably destabilizes a society leading to collapse, revolution (a forced exchange of conditions), and retribution for all wrongs. Yes, the bastards have it coming!
  • You cannot save your economy by going deeper into debt. The global economy under the IMF is like a small boat with ten holes in the bottom and only nine corks. All a bailout does is yank a cork from one hole and pound it into another. But as long as all money is issued as debt, the number of holes will always exceed the number of corks. The boat must sink eventually, no matter how energetically the corks get swapped around. In the end, "debt" is a myth, like "divine right" and "Chattel ownership of slaves." It creates a sense of obligation only so long as people believe it is real.
  • Wall Street seems to have forgotten that before you can take wealth from the people, you first have to make sure they have the means to create it! But when you gin up a huge debt through fraud, then send the jobs overseas to save a few pennies, the system is going to lock up, indeed already has locked up, and is inevitably on the path to total collapse.
  • In the not-too-far future, rule by debt-based currency will be seen as devoid of any legitimacy, just as today we see as devoid of legitimacy the concepts of rule by divine right and rule by chattel ownership of one’s body.
  • The problem with going back to a gold standard is that the very banks that crashed the economy now have most of the gold! Yes, we need to get rid of the private central bank and go back to a value-based monetary system. But going back to gold while the bankers own most of the gold merely trades one form of banker slavery for another.
  • The big lie about capitalism is that everyone can be rich. That's impossible. Capitalism works only if the vast majority of the population are kept poor enough to never quit working, are kept poor enough to accept distasteful jobs society cannot function without. If everyone were a millionaire, who would empty the trash or repair the sewers? It follows that the poorer the general population is made, the greater the worth of the money held by the wealthy, in terms of the lives which may be bought and sold with it.
  • The big lie of capitalism is that everyone can be rich. This is nonsense. If everyone were millionaires, who would take out the trash, repair the sewers, or bury the dead? Capitalism only works if there is a deliberately imposed wealth differential. The vast majority of people must be kept poor to keep them willing to work at the thousand distasteful jobs on which society depends. Politics is the process that decides who is and is not allowed to be rich, and inevitably selects those who cooperate with the ultra-wealthy and understand that the mass of the population must be kept poor.
  • The economy can be saved if we have more unemployed politicians.
  • The eventual purpose of all government is to extract the maximum work product from their population in exchange for the least amount of upkeep.
  • Some definitions:
    Capitalism: If you make money you keep it. If you lose money you are responsible for that debt. Freedom means not only the freedom to succeed but the freedom to fail and the responsibility to accept either outcome.
    Socialism: If you make money it is taxed away to benefit society. If you lose money society is taxed to cover the losses so you can start again.
    Fascism: If you make money you keep it. If you lose money society is taxed to cover the losses so you can start again.
    After TARP, QE, and other bailouts, which system do you think we are living under?
  • Safe nuclear power, reliable space shuttles, rupture proof dams, sturdy bridges, leak-proof oil wells, etc. are all possible. You just have to NOT let the money-junkies make the safety decisions. In every major disaster from Challenger to Chernobyl to Deepwater Horizon to Fukushima it always comes down to some business executive making the decision to not spend the money on the very safety system that would have averted the disaster. It is the overarching quest for profit, not the underlying technology, that is the enemy of all humankind.
  • Robots will never replace human beings until they can be persuaded to buy the latest fashions on credit.
  • Recession: Your neighbor loses his job.
    Depression: You lose YOUR job.
    Revolution: The Government loses THEIR job!
  • Proper government exists to provide for the community what the community needs but cannot organize for itself. Anything else is oligarchy.
  • Protectionism is the last refuge of bad business.
  • Next the government will ban home cooking to protect the restaurant corporations' profits!
  • 'Primum non nocere' should apply to economics as well as medicine!
  • Money is the cruellest tyrant of all.
  • I understand a man or women with hungry kids stepping outside the bounds of society in these hard economic times and stealing a loaf of bread. But that man or women with the hungry kids is not the reason for these hard economic times. It's the Wall Street money junkies, already rich beyond dreams of Midas, who cost the nation $27 trillion with their mortgage-backed security fraud. That this has become a fascist nation is underscored by the fact that the man or women stealing bread for their kids will see the inside of a jail long before the Wall Street crooks who stole that $27 trillion.
  • Gold is a pretty metal, soft and easy to work with for artists and with some interesting electrical properties, but otherwise rather useless other than as a symbol of wealth and power. If an alien race wanted to conquer the Earth (although one has to wonder what there could possibly be here on Earth worth the trouble) all they would have to do is start handing out 500 pounds of gold to every living human being and the financial/political foundations of our civilization would crumble overnight. I am not convinced that would be a bad thing in the long term.
  • Every time the government passes a bill, they take a dollar from the American people, hand back fifty cents, then cannot figure out why the economy continues to decline.
  • Fear and greed, not mathematics, drives the economy.
  • Can nuclear power be made safe? Yes. Can nuclear power be made safe in a society controlled by money-junkies? No.
  • When the DOW is being treated like a sports score, you know we are in trouble!
  • When the people allow the government and bankers to acquire all of the money, inevitably great evil against the people follows.
  • While a desire to have more money is understandable and even advantageous to maintain competitiveness, the desire to have all the money is self-destructive to an economy!
  • Whoever said cheaters never prosper has never been to Wall Street or Washington DC!
  • What strange black magic is this in which after the money-junkies have abused and impoverished the people, convince those same people, when they have nothing left to loot, to simply kill themselves rather than to fight back?", commenting on skyrocketing suicide rates in recession-stricken Ireland
  • The companies that buy and sell debt are buying and selling your slavery.
  • Who is the greater criminal? The man who steals a crust of bread to feed a child? Or the banker who made it necessary to steal a crust of bread to feed a child?