Stacy Summary: This is the latest from Ellen Brown in which she argues for a Tobin tax. Your thoughts?
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Most recent: 
I agree, the tax is unlikely to get passed. I was just using it as a hook to dredge up the outrageous trading practices of Goldman, which is otherwise old news.
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As long as the IMF/BIS G20 structure is ignored by myopic imperial analysis the longer the imperial colonialization of the world’s people will be allowed to continue. US real economy is collapsing, but the IMF power structure is exploding in strength and veracity.
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Whenever power structures become too concentrated, they become very subseptible to internal manipulations.
Concentrated power structures have more soft human targets that are weak within them … as even in concentrated power structures you have to look to the core not the edges.
The edges of the IMF / World Bank / Major Central Banks are in recessionary times as weak as water …
Anyway, this is what any Security Intelligence 101 uni course would teach as essential basic organizational fact.
I expect disentagration before integration, as the edges of these organizations are filled with people who are not fully profiting from the current arrangements.
Petition to Treasury Secretary Timothy Geithner
Too Big to Fail is Too Big to Exist
http://tinyurl.com/yh2l86t
Goldman’s Undisclosed Role in AIG’s Distress
/Janet Tavakoli of Tavakoli Structured Finance
http://tinyurl.com/ygwdj7s
Its utterly silly to think any of these ‘progressive’ proposals will work. Its like trying to give Frankenstein a nose job. Not only will it not change a thing but it would never be allowed and if by some miracle it was legislated Goldman and the larger Pigmen would simply find a loophole. Look into that man’s face. The little squirrel with the ferret-like eyes. Blankfein. Do you think a character like that could not find a loop within a loop within a loop if it meant saving a few 10 spots for his bloated pig-wife, the one who is a shopaholic and spends her time touring Guici and Tiffany. Please.
The entire system is well rotted to the core. It requires a political solution. Any legislation given the system, makes it seem legitimate and defuses the necessity for political change. Like picking thru a steaming pile of dog fece, removing some rodent hair from it and then tossing it into the evenings pot of rigatoni. It ain’t gonna work.
Unless Blankfein and hundreds of other Pigmen are marched into jail like they would have been just 25 years ago during the Savings and Loan ‘crisis’, there will never be any change. Change comes with fear. Its very funny and ironic actually since at their core all of these banksters are cowards. They would rat on their own mothers if accused and indicted. The whole scam would come unraveled. They have found theiving so easy and done it with such impunity that there metal has never been tested. Once tested though the entire edifice would implode quickly. But not with Hopey. He’s the grand pimp and enabler. We are still far from political change though we are ever closer to civil unrest and the first real change out of that will be far right back lash, not any progressive movement whatsoever.
So simple its like taking candy from a baby…
Goldman Sachs Is ‘Far Simpler’ Than Rivals, CEO Blankfein Says
Blankfein said that the New York-based firm’s change to a bank under the supervision of the Federal Reserve means that “there are dozens of people who work for the New York Fed who come to work in our offices every day” to provide a check on the company’s businesses. He said regulatory changes haven’t altered any of those activities, such as principal investing or commodity trading, that the firm engages in.
http://tinyurl.com/yejvm9k
@sklein check out Bill Hicks
@skippy
“we are free to do as you we are told”
Profound, sad and true.
Was Goldman Sachs doing Gods work with an HFT contrived rally in the market to avoid a World War for
our National Security ? Good Lord… I got a hold of a bad mushroom. …
when Paulson testified before Congress he was obviously telling half truths …
So when it came to light that his actions were to prevent martial law in the USA,
if we start from thinking that is a half truth … am wondering if had the banks failed would that have been the trigger for a World War … and if true
once the FED/Treasury/Wall Street stabilized the market to induce the rally we have seen since march … was this course of intervention taken and viewed as justified, although clear manipulation, as a matter of so called National Security ?
IS that the reason that Congress appears to be out of step with the people … keepingits citizens from getting answers … cause as we know … we live with the luxury of not knowing the truth … LOL … cause we cant handle the truth …
Dont ever question the manner in which your freedom is provided … we free to do as you we are told
http://www.youtube.com/watch?v=8hGvQtumNAY
I need to go for a hike today and breath some fresh air.
“Defeat of an imperial power need not come via war, but neglected infrastructure brought on by corruption. In the bigger picture, the US will be far more defeated than the USSR.”
@BillStewart:
As long as the IMF/BIS G20 structure is ignored by myopic imperial analysis the longer the imperial colonialization of the world’s people will be allowed to continue. US real economy is collapsing, but the IMF power structure is exploding in strength and veracity.
Gee, should we feel that bad about giving to
the Golden altar for “gods work”.
(the devil made me do it) Ha!
This is pure insanity. I am sick of people applying poor logic. The HFT issue can be dealt with without a Tobin Tax. The side affects would be worse than the cure. Another camels nose under the tent for bureaucrats to steal and redistribute wealth.
Ugh, take a legit issue and apply the wrong solution.
Our transit company always wants more funding to increase buses. Of course, they heavily tax drivers to subsidize the system and claim that the drivers benefit from less traffic and congestion. Makes sense, but entirely false. We had a 3 month transit strike. Prior to the strike, I had a 45 minute commute into town. Guess what, the commute time dropped to 25 minutes without the buses. The buses added to the congestion, everyone adjusted and they weren’t as needed as they had thought.
The road to hell is paved with good intentions.
Wall Street Record Bonuses Return as Big 3 May Pay $30 Billion http://tinyurl.com/yewyhlu
Goldman Sachs will help you to meet your maker earlier than expected, they work with their God, Lucifer now http://tinyurl.com/yjnuzru
So, nobody can’t get any money and that’s why the big banks have to have free money!!??? Yeah, that makes sense…..http://tinyurl.com/yzhabrx
Goldman takes on new role: taking away people’s homes http://tinyurl.com/y8zvhfa
How Goldman secretly bet on the U.S. housing crash http://tinyurl.com/ycyv54e
A lot of the American Imperialist infrastructure will go kaput during the next 25 years of high debts coupled with low velocity of money.
The Russians have the same problem, but they at least have been thru their collapse and are gradually beginning to learn how to cope with these problems.
http://en.wikipedia.org/wiki/2009_Sayano-Shushenskaya_hydro_accident
http://www.flickr.com/photos/aleshru/sets/72157622182129480/
http://www.boston.com/bigpicture/2009/09/the_sayanoshushenskaya_dam_acc.html
Defeat of an imperial power need not come via war, but neglected infrastructure brought on by corruption. In the bigger picture, the US will be far more defeated than the USSR.
“And to ease the burden, we will charge zero interest on all concessional lending through 2011.”
What bank promises zero interest on concessional lending in the current economic credit freeze?
The IMF!
http://www.imf.org/external/np/speeches/2009/102309.htm
(The good hands people)
@Stacy, ok, yes setting it up might require some effort but when it’s done it requires very little intervention (funny word these days)..
This mafia should be broken apart. Instead of paying taxes to the state you are paying a tax to the mobsters frome Goldman Sachs. They don’t call it Goverrment Sachs for nothing. Calculate what Goldman Sachs has stolen with all their dirty tricks and tax them in consequence to make them go bust.
The problem seems to be the unwillingness of all vested players in facing the utter power and corruption eminating from the IMF/World bank operatives via the BIS. Gold pricing is DEPENDENT on the fiat games. Paper asset pricing is also dependent on the central bank manipulators. Good luck fighting the Tobin tax.
A suprasovereign agency must be employed to enact and regulate the tax on currency flows. Let’s guess whom?
1. IMF
2. IMF renamed by Stiglitz Inc. and moved to appropriate ‘poor country’
3. ECB
Let’s face it: the organization must already be a suprasovereign entity capable of wielding the kind of clout and power necessary to knock big boy’s heads. The whole game is one of consolidation.
Who get’s the tax kitty? If you guessed the same crew siphoning cream off the milk truckUS dairy cow: you’d be correct!
Ethical tests.
Doubt they’ll go as far as my psychopathy tests.
Doesn’t a transaction tax just mean only the biggest institutions can afford to pay it, thus furthering the consolidation of the financial services industries?
Sounds like a short-sighted populist gimmick to me.
New German finmin wins over EU colleagues with a commitment to reduce Germany’s public deficit http://tinyurl.com/yj2mlpq
The word on Gordon Brown from Cayman http://tinyurl.com/yjda8cl
Alistair Darling to weigh new tax on banks http://tinyurl.com/ygfdu72
Joseph Stiglitz calls for Tobin tax on all financial trading transactions http://tinyurl.com/yfytdm3
Geithner, Brown Split on Tobin Tax at Group of 20 Meeting http://tinyurl.com/yldwmcf
On a related IMF initiative –
“Critics say it would be difficult to ringfence money raised to bail out banks when financial markets were strong and there was demand for cash for other priorities such as fighting climate change.”
http://www.moneycontrol.com/news/world-news/q+a-how-couldglobal-levybanks-work_423559.html
I think taxing with not help, countries should make a treaty dealing with financial regulations and margin/interest rates. Not advocating an government or another agency; just agreements between national governments about this part of the market. First of all because everything is done with computers, goldman could move somewhere where they don’t have to pay so much taxes. (although the US is a gold egg laying goose) second the taxes will go to the fed back to morgan and co. third government and spending just doesn’t work as usually intended; see the failure of creating jobs with the bailout. That’s my thoughts atleast, she is right about the criminal crimes but don’t think this is a solution; beside i think the speculators are just one part of the problem the FED/BIS/IMF is another “problem”.
Do You guys think we have any chance
the general Public is so Dummed Down. When all these Politicians and Bueracraps Have repeatedly Lied.I Bet the next Chants by these idiots to the general public is Gonna be “Have Faith in your Religion ” “(While i take that last Nickle from You”)
RODFL
Mark Dice tries to sell a one ounce pure cold coin for $50 but nobody has a clue how much gold is worth, and nobody wanted it.
http://www.infowars.com/mark-dice-buy-gold-for-50-an-ounce/
@ Stacey
Exactly
“Who are the people conducting these Analysis and Tests ? are they an Independent Think Tank”
and thier answere is gonna be
Hmm Errrr “Well we are conducting it. “and Then an IN YOUR FACE “:-)”
I want to join the Church of Goldman Sachs…Is the bible going to be revised to include new chapters on Goldman?
@Bonn – yes, but it’s also very medieval; a blessing from the govt decrees that they are more ethical than others . . . and I would love to see the list of people that are deemed not ethical enough to be a banker!
@Mongo – I did . . . it looked like a lot of work!
Barney Frank says ethics, schmethics. Here is Barney Frank wriggling out of questions about Washington’s complicity in Wall St. bonuses:
http://www.huffingtonpost.com/2009/11/09/barney-frank-clashes-with_n_351568.html
Notice that he continually says he wants to put something in place for “post-TARP” recipients. Meaning, as far as Barney is concerned, those who have “repaid” TARP are free and clear and can do whatever they want.
Also found a little piece by Soros:A New World Architecture.
@Mike/Liverpool – Fitch says UK most at risk of losing AAA rating.
http://bit.ly/4EumLd
@Stacy, did you see the link I posted about IRC-servers yesterday?
@ stacyherbert
“Britain’s senior bankers will face new tests to see if they are ethical enough to run large financial institutions, the Financial Services Authority (FSA) said yesterday. Those who fail would be vetoed from top appointments”
RODFL Just Like the “Stress Tests” for the US Banks SCAM SCAM
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6910299.ece
“Britain’s senior bankers will face new tests to see if they are ethical enough to run large financial institutions, the Financial Services Authority (FSA) said yesterday. Those who fail would be vetoed from top appointments”
http://www.youtube.com/watch?v=6AZRMZl8Ug8
“They ball-gagged Lady Justice
And blindfolded her so she can’t see
The erosion of the peoples’ trust
Of what will come to be an FDIC assisted suicide
The depression of a depression
Worldwide suicide for the economy
Caused by the dialectic chaos
When the mob on Wall Street took “We the People” for a ride
When it’s dog eat dog, you are what you eat
Just like the mad dog that bites the hand that feeds
Like the mad dog that bites the hand that feeds
Just like the mad dog that bites that hand that feeds
They took everything and anything
As long as it once belonged to me
The rats got all the money
The roaches licked the cupboards clean of TV dinners and beer
This never-ending nightmare
Of the dreams I’ll never, ever get to see
And just one silver-bullet to your head
It will set me free from all the life I wasted trusting you
When it’s dog eat dog, you are what you eat
Just like the mad dog that bites the hand that feeds
Like the mad dog that bites the hand that feeds
When it’s dog eat dog, you are what you eat
Just like the mad dog that bites the hand that feeds
Just like the mad dog, you bite the hand that feeds”
Lloyd Blankfein Quote “..the American people can’t tell the difference between kneeling down and bending over…”
Hosanna!!
“Goldman Sachs Press officers and executives had quite a day defusing all the fallout from CEO Lloyd Blankfein’s so-called “own goal” by suggesting the $20 billion GS bonus pool is kosher because GS is doing …ahem….”God’s Work”.
http://tinyurl.com/ygpybxu
goldman is god!
Would be really fun to see what kind of an effect a Tobin tax would have on high-frequency trading. Of course, since such a tax would get in the way of our productive thieves, it’s something we’ll never see become law.
Thinking Allowed, a Radio 4 show explores white collar crime. What exactly is it, who commits it and why?
http://tinyurl.com/lrrqqu
Max you need to chat with the P.R guy interviewed in the show it sound like he know where a lot of bodies are buried.
Have not read the article yet, but … :
If HFT was removed ( or reduced) via taxation, the WS daily volume would probably drop so dramatically as to scare “normal” investors away. i.e. the volume would be so thin as to what they’ve been used to , they might get cold feet.
A very revealing chart showing productivity and wages over the last 60 years.
http://tinyurl.com/yc3kmsu
“Sound a bit like class warfare? It’s not a surprising reaction when one party keeps cutting itself the an overly large slice of the pie, and then adding insult to injury through spurious rationalizations”
@y’all
One Time!!!