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Reply #39: knr - A better way to bail this out (Michael Hudson, Kucinich adviser) [View All]

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slipslidingaway Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Aug-22-11 02:17 PM
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39. knr - A better way to bail this out (Michael Hudson, Kucinich adviser)

"...The US government made a choice. That choice involved helping the big end of town to pay its gambling debt and left up to 4 million American taxpayers at risk of losing their homes. To add insult to injury, those who lose their homes, and their children, will be paying off the bankers debt for many decades to come.

There are alternatives to corporate bail outs. Although reading the mainstream media you could be made to think otherwise. The solution below requires that billions be spent on homeowners/taxpayers, rather than those who have already been proven to be financially incompetent.

A better use of the money, says Michael Hudson, professor of economics at the University of Missouri, Kansas City, and an economic adviser to Rep. Dennis Kucinich, would be to save these 4 million homeowners from defaulting and being kicked out of their houses. Now theyre going to be kicked out of the houses. The houses will be vacant. The cities are going to (lose) property taxes, theyre going to have to cut back local expenditures, local infrastructure. The economy is being sacrificed to pay the gamblers.

Life or Debt?
AMI Monetary Reform and Liberation
G-20 - Debt Slavery

"In Pittsburgh the G-20 agreed to disagree, thus maintaining the illusion that they have secured the unraveling financial system by instituting the mildest of reforms even while allowing the bankers most responsible for the economic disaster to keep their ill-gotten gains. Simultaneously, in Chicago a less heralded group gathered at the American Monetary Institute (AMI) 5th Annual Monetary Reform Conference to deepen their understanding of the flaws in the dominant debt-based system and the possibilities for transformation. At the G-20 meeting in Pittsburgh, protected by brutal military and police forces, world leaders were met by thousands of protesters deploring their policies. At the AMI meeting at Roosevelt University in Chicago, monetary researchers, authors, and activists from Russia, New Zealand, Europe, Africa, Canada, Britain, and across the US were ignored by the press as they shared their insights and experiences and discussed the Monetary Reform and Financial Security bill, to be introduced into Congress by Dennis Kucinich as a first step to ease the debt slavery burdening humanity.

The AMI was founded by Stephen Zarlenga (& Dr. Lucienne DeWulf). Zarlenga, author of The Lost Science of Money: The Mythology of Money, the Story of Power, contends that

By mis-defining the nature of money, special interests have often been able to control a societys monetary system, and in turn, the society itself.

For years the AMI has labored to create a bill that would nationalize the Federal Reserve, prevent private banks from creating money out of thin air (which they do now under the current fractional reserve banking system), and enable the government to spend it into existence by investing in much needed public infrastructure, including education and health. The conferences feature speakers who understand the current process and how our dishonest, private, oligarchic system could be retooled into an honest, public, transparent, and accountable one.

The recent four-day conference in Chicago included outstanding speakers with extensive knowledge and expertise in a wide range of areas, including some who had worked at the Federal Reserve whistleblower William Bergman and Meredith Walker; authors, economists, and advisors to Congressman KucinichMichael Hudson and David I. Kelley; as well as William Black, who led the Savings and Loan rescue effort in the 90s and spoke in detail on Fraud's Critical Role in Producing the Financial Crisis. The talk that moved me the most, however, was about the history of Canadas monetary reforms, presented by Will Abram- who was born a year before the 1929 stock market crash and vividly described his life during and after the Great Depression..."

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  -Will your hair stand on end? Mine did after reading Michael Hudson's articles on the coming serfdom tpsbmam  Aug-21-11 08:37 PM   #0 
  - To read later. Bkmkrd. nt  snagglepuss   Aug-21-11 08:39 PM   #1 
  - KandRandbkmrkd.  Tuesday Afternoon   Aug-21-11 08:41 PM   #2 
  - k n r nt  flying rabbit   Aug-21-11 08:59 PM   #3 
  - Nothing really new  tama   Aug-21-11 09:20 PM   #4 
  - Yep - I agree there is nothing new in these articles at all  blank space   Aug-22-11 07:00 PM   #58 
  - He is someone worth listening to.  girl gone mad   Aug-21-11 09:26 PM   #5 
  - I don't like the term "public debt." When I go into debt I get something in return.  county worker   Aug-21-11 09:37 PM   #6 
  - We ALL "get" something from public debt: ongoing governmental services,  kestrel91316   Aug-22-11 11:45 AM   #22 
     - What we mainly get is WAR, WAR and more WAR -- !!  defendandprotect   Aug-22-11 12:53 PM   #29 
     - Well, you won't get any argument from me on that count. But nobody listens  kestrel91316   Aug-22-11 01:10 PM   #34 
        - We need two strong anti-war candidates in 2012 -- !!  defendandprotect   Aug-22-11 01:41 PM   #37 
        - Yeah. Did you ever wonder how many  Enthusiast   Aug-22-11 02:52 PM   #42 
     - Kestrel, under Eisenhower, under Kennedy, that was true.  truedelphi   Aug-22-11 03:10 PM   #45 
  - Great work, assembling this OP.  Kaleko   Aug-21-11 09:53 PM   #7 
  - Very scary. Thanks for posting this. K&R  Doremus   Aug-21-11 10:19 PM   #8 
  - And why aren't the banksters arrested for economic terrorism?  Lorien   Aug-21-11 11:30 PM   #9 
  - but.....they wear SUITS AND TIES!!!  Skittles   Aug-22-11 12:29 AM   #11 
  - So did Capone.  RUMMYisFROSTED   Aug-22-11 09:04 AM   #18 
     - But his name was "Alphonse," not "John" or "James."  WinkyDink   Aug-22-11 12:48 PM   #26 
  - I would vote for that.......nt  Enthusiast   Aug-22-11 02:53 PM   #43 
  - + Me and My Broken heart.  truedelphi   Aug-22-11 05:22 PM   #53 
  - The whole damn system is based on using debt to distribute wealth  azul   Aug-22-11 12:26 AM   #10 
  - Integrity = POWER to create wealth.  napoleon_in_rags   Aug-22-11 01:53 AM   #13 
  - bitcoin  tama   Aug-22-11 12:56 PM   #30 
     - You're the second person to tell me about that.  napoleon_in_rags   Aug-22-11 05:53 PM   #55 
  - +1  tama   Aug-22-11 12:52 PM   #28 
  - Are people finally waking up?  Hawkowl   Aug-22-11 12:30 AM   #12 
  - No  BlueJac   Aug-22-11 01:49 PM   #38 
  - k n r nt  Mojorabbit   Aug-22-11 06:14 AM   #14 
  - thank you for this  dana_b   Aug-22-11 06:25 AM   #15 
  - I've been saying this for a long while...  Javaman   Aug-22-11 08:59 AM   #16 
  - not helpful. there are better, real choices. nt  inna   Aug-22-11 02:37 PM   #40 
  - Excellent, bookmarked k&r'd.  Dappleganger   Aug-22-11 09:02 AM   #17 
  - The Don Corleone School of Economics  alterfurz   Aug-22-11 10:03 AM   #19 
  - Of course  salib   Aug-22-11 11:33 AM   #20 
  - this for your grandchildren...and so begins the dark ages....  russspeakeasy   Aug-22-11 11:39 AM   #21 
  - It was a nice run while it lasted  peace frog   Aug-22-11 12:42 PM   #23 
  - How do you bookmark a thread? I want to bookmark this for later reading. nt  avebury   Aug-22-11 12:45 PM   #24 
  - Forget my last post, I finally just figured it out.  avebury   Aug-22-11 12:47 PM   #25 
  - Corporate/fascism has risen the same way it always has ...on rw political violence ...  defendandprotect   Aug-22-11 12:49 PM   #27 
  - your post needs to be a Thread!  fascisthunter   Aug-22-11 04:16 PM   #48 
  - Nice work pulling that together! K&R!  KoKo   Aug-22-11 12:56 PM   #31 
  - this has been on the march for several decades...thx for post  katty   Aug-22-11 01:02 PM   #32 
  - Woody  bongbong   Aug-22-11 01:07 PM   #33 
  - Yes. The rich want it all. Homes, schools, pensions. We are to own NOTHING.  DirkGently   Aug-22-11 01:16 PM   #35 
  - Reference: Washington Consensus = World Bank + IMF + U.S. Treasury  mckara   Aug-22-11 01:21 PM   #36 
  - knr - A better way to bail this out (Michael Hudson, Kucinich adviser)  slipslidingaway   Aug-22-11 02:17 PM   #39 
  - Obama's love for bankers comes naturally.  JDPriestly   Aug-22-11 02:49 PM   #41 
  - What I want to add to explain my post is:  JDPriestly   Aug-22-11 04:17 PM   #49 
     - That is very interesting information.  truedelphi   Aug-23-11 06:40 PM   #61 
  - K & R 132. n/t  truedelphi   Aug-22-11 03:01 PM   #44 
  - It's all coming together now:  blkmusclmachine   Aug-22-11 03:18 PM   #46 
  - And now the bankers are backing Romney.  McCamy Taylor   Aug-22-11 04:10 PM   #47 
  - Milton Friedman is the most evil person who has ever  hifiguy   Aug-22-11 04:19 PM   #50 
  - slaves had it better than us--free room and board and health care no doubt  librechik   Aug-22-11 04:59 PM   #51 
  - Meet the "New World Order"  Hubert Flottz   Aug-22-11 05:00 PM   #52 
  - Kick  Bryn   Aug-22-11 05:31 PM   #54 
  - bookmarked to read once off work. nt  awoke_in_2003   Aug-22-11 06:12 PM   #56 
  - Same pattern as what was occurring during the Dark Ages  gtar100   Aug-22-11 06:24 PM   #57 
  - ...from your 'consolation' to God's ear. If/when today's able-bodied remembers how to assemble.  cyberpj   Aug-22-11 08:20 PM   #59 
  - Don't we already have what is essentially a serfdom now?  begin_within   Aug-22-11 08:25 PM   #60 

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