Wednesday, January 9, 2013

No Austerity! No Fix-the-Debt. No more Too-Big-To-Fail! The Rich are naught but Fire-Breathing Wryms.

Smaug the Magnificent was listed as the Richest Fictional Character in History in 2012.

J. R.R. Tolkien wrote of Smaug that when Bilbo Baggins took a small chalice from of "his" hoard Smaug's Rage was the kind which "is only seen when rich folk that have more than they can enjoy lose something they have long had but never before used or wanted."

Plutocrats are fire-breathing Wyrms, destructive nearly invincible forces which don't create but destroy and steal hordes of Capital which they proclaim to be theirs. They are destroying people's lives and livelihoods in pursuit of profits.

The Plutocracy believe the Government should exist for One Purpose with Two Basic Powers; To Protect their Property by 1) Quelling Domestic Dissent and 2) Opening up Foreign Markets for their Use.

Of course, everything else is "Unconstitutional" or "Socialism".

The SEC needs to adopt a Financial Transaction Tax, such as the one the U.S. Government had the federal level from 1914 to 1966. And the state of New York, in conjunction with the New York City from 1905 to 1981.

Such a fee won't hurt Grandmas stocks or minor investors. But what it will do is curb the rapacious behavior of Wall Street and the Banking Criminals who conduct billions of trades a second to manipulate the Stock Exchange.

Did you ever wonder why, in the midst of the Computer Age, the center of the American Financial World is still Wall Street? It's because large Banking Giants have located untold numbers of Terrabyte sized Massive Server in Warehouses geographically close to the NYSE in order to gain a pico-second advantage over other Financial Monsters.

Banking Criminals are not limiting their thievery to merely electronic wizardry but are still engaging in the time-honored traditions of Currency Manipulation and Money Laundering for Criminal Gangs, Terrorist Organizations, Rogue Nations as well as American Plutocratic Cheats.

Just 3 years ago UBS agreed to pay a $780 Million dollar fine to avoid `criminal prosecution and to keep the names of 52,000 American criminals, who illegally sheltered monies in Switzerland, secret. 

Now UBS has been ordered to pay other $700 million to $1.5 Billion for it's criminal involvement in the LIBOR currency manipulation.

HSBC was convicted of LIBOR currency manipulation and was fined $1.9 Billion in December 2012. HSBC was one of 7 Banks which routinely laundered money for International Drug Lords, FARC terrorists and Al Qaeda and Iran.

The second oldest Bank of Switzerland, Wegelin founded in 1741, has agreed to pay $58 Million in fines to the US Government because,
The bank had admitted to allowing more than 100 American citizens to hide $1.2bn from the Internal Revenue Service for almost 10 years.
Otto Bruderer, a managing partner at the bank, admitted that Wegelin had sheltered US clients from tax between 2002 and 2010, and said it was aware that its conduct had been "wrong". 
Mr Burderer's further admission that assisting tax evasion was common practice in Switzerland has caused huge concern among the Swiss banking community, according to the BBC's Switzerland correspondent, Imogen Foulkes. 
The Rich are Rich because, like Dragons, they've stolen Billions from poor working people across the planet for Generations. Banks, like UBS, HSBC or the defunct Wegelin merely made the theivery easier by providing the paperwork and structural apparatus. But, when it comes down to it, the Rich are Fire-Breathing Wyrms willing to burn everything to enjoy the fruits of others labors.

Back here in US there exists a ripe plum which the Rich Wyrms have been salivating over for decades. 

Social Security is one of the last depositories of easily accessible capital waiting for the Capitalists to swindle it into their private bank accounts. If George W. Bush and the Republican Congress had succeeded in 2005 of "privatizing" Social Security, $2.5 Trillion would have vanished in 2007 and 2008. Poof. Manipulated away. Gone just like the equity in your homes thousands of pensions and retirement investments swindled via criminally toxic Goldman Sachs assets. 

Like Smaug The Rich! Want! That! Horde!

Rich Wyrms hope people are foolish enough to believe that cutting their own meager earned-benefits is the way to help the Nation.

However, the Rich don't recognize National Interests. They are pan-National. All they want from America is lower and lower tax rates on Capital (with higher tax rates on Labor) and lax financial laws which give them the ability to move money quickly from one Nation to another.

A big component of their plan was revealed in the Fiscal Cliff Rigamarole. The Republicans and Fix-the-Debt wanted the ability to move Hundreds of Billions of off-shore profits made via wage slave labor into the US without any taxes. Calling it a Territorial Tax System. Once here they could realize Billions in profits from merely moving money around. It would have been a windfall for those who make money by the manipulation of figures not from creating jobs, building factories or inventing new products. But from Legerdemain.

And Fix-the-Debt is merely the latest in the effort of Corporate Moochers to fool the country once again. 

Corporations and Plutocrats are the biggest Moochers in World History. They've been hiding their stolen loot in off-shore tax havens and manipulating Stock prices and currency and engaging in sickening criminal acts all the while revealing in their Power and Magnificence. Believing they are Too-Big-To-Fail, just like Smaug.


Kulkuri said...

I blame St. Ronnie for not only making greed acceptable but desirable.

The thing I don't understand is why this attitude of the rich that they deserve a free ride because they are rich. They get enough free shit already.

When you get to being rich by anybody's definition, (mine, yours or RMoney's) money is no longer important, it's just a way for keeping score. It's not like they could ever spend it all.

Grung_e_Gene said...

The Era of Noblesse Oblige is long past. We are living in the Era of Brutal Neo-Feudalism.

The Rich, Banks, Pan-National Conglomerates really do consider themselves beyond Good and Evil.

Jerry Critter said...

They live is a different world with a different set of rules. Unfortunately, it overlays with ours.

Ulysses said...

Thanks for this great post! I'd like to believe our situation is like that of the French before they stormed the Bastille, but I'm afraid we're more akin to the "Good Germans" in the 1930's...