Renewable Revolution

Freedom & Democracy => Geopolitics => Topic started by: AGelbert on November 27, 2013, 02:58:08 pm


Title: Money
Post by: AGelbert on November 27, 2013, 02:58:08 pm
Last Edit: May 04, 2017, 05:24:36 pm

(https://wampumtrail.files.wordpress.com/2014/05/p1060670.jpg)

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Wampum, ke`kwuk, squau-tho-won; all are Algonquian words for shell beads or string of shell beads. Wampumpeage is a Narragansett word for "white beads strung". Throughout northeastern America, wampum was used for jewelry, gifts, communication, historical record of important events, religious ceremonies, and trade. It was the earliest form of currency known in North America. Its value was derived from the difficulty involved in producing the cylindrical bead from both Quahog and Whelk, and the scarcity of suitable shells. White beads were made from Whelk, purple-blackish from Quahog.

The beads were produced from the inner spiral of the shells. The spiral or column must be thick enough to withstand grinding, shaping and drilling. The shells were collected along the coastal shores during the summer, and worked in the winter months. The inner spirals were cut into cylinders measuring 1/4 inch long by 1/8 inch diameter. Each bead was then smoothed through grinding, polished, drilled, and finally strung on hemp fibers or sinew. It was difficult, tedious, and time consuming work. The proportionate scarcity of the Quahog dark beads doubled their value to that of white wampum.

http://www.mohicanpress.com/mo08017.html (http://www.mohicanpress.com/mo08017.html)

She sells seashells by the seashore. If she sells seashells by the seashore, how many seashore shells does she sell? This old tongue twisting pronunciation trainer underscores step one in the manufacture of Wampum. You needed a supply of a certain, special and very attractive type of Calcium Carbonate, which was limited in quantities, to begin to do WORK=ENERGY INPUT plus some ARTISTIC CREATIVITY on the seashells in order to produce a CURRENCY that was BOTH a medium of exchange AND a store of value.   

(http://upload.wikimedia.org/wikipedia/commons/thumb/8/8e/Wampum_ej_perry.jpg/300px-Wampum_ej_perry.jpg)
Wampum

In a barter economy, the transfer of goods and services from one party to another is hindered by the lack of liquidity of say, an animal, a bear skin or whatever. The lack of a medium of exchange that can be subdivided into small enough units for both parties to make up perceived different values in a barter transaction is the need that fosters the creation of "money" in the first place.

Wampum was initially a form of artistic expression as well as a form of communication (it was a store of value as jewelry and venerable truth through news and agreements).

However, as the quantity gradually increased and most natives agreed more or less on its value, wampum began providing the liquidity that a barter economy could not.

Consequently the Native Americans along the eastern area of North Amerca gradually adopted wampum as a currency in addition to valuing its beauty (jewelry = bling). The Natives that lived along the beach had an edge on those inland because of easy access to the raw materials.

(http://wordsmith.org/words/images/wampum_large.jpg)
Wampum beads  Photo: Stephen Lang (Source: AINS/NMAI)

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With the influx of more Europeans in the 17th century, notably the Dutch and English, metal tools became widely available to Indians in the east.

Among these tools were slender metal drills which greatly facilitated the production of wampum. These new tools enabled the Indians to produce uniform beads more quickly and with greater ease.

Applying basic economic principles to wampum as a commodity/currency in the 17th century, it might be assumed that wampum decreased in value as its production was sped up.

On the contrary, its value remained stable.

Again applying the basic economic rule of supply and demand, though the Europeans brought tools that helped to increase wampum production, they also balanced their contribution with an increased demand for the shell beads.

http://www.mohicanpress.com/mo08017.html (http://www.mohicanpress.com/mo08017.html)

Wampum is pretty and, until the Europeans showed up with metal hand tools, a good store of wealth because the amount of energy=work it took to make it as well as the amount of shells available  limited the amount of wampum in circulation.

But those metal thingamajigs the white devils brought made it EASY (LESS TIME & ENERGY=WORK) to make lots of pretty wampum (metal hand drills). This new wampum looked just as good or better than the older stuff made with less sophisticated (non-metal) tools.

At first everybody prospered. There was more wampum, and contrary to standard economic theory that when you increase the currency in circulation, you get inflation, this did not happen right away. Everybody, including the white devils  (http://www.createaforum.com/gallery/renewablerevolution/3-141113185047.png), were happy with the wampum economy.

But time passed and things changed.

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As the New England colonists adopted wampum as their standard currency, incidents of fraud (wampum counterfeit) increased.

Both Indian and Englishman were known to pass off inferior or fraudulent wampum to unsuspecting colonials.


In time, regulation and a standardized measure of wampum strands was implemented. A fathom (6 feet) was the most usual measurement and instantly denoted a specific monetary value measured against English shillings, pence, pounds, and so forth.

The fact that legislation was introduced, regulations regarding wampum manufacture were set down, penalties for counterfeit or inferior quality wampum trading were harsh, and in some colonies the rejection of dark wampum for only white (though its value was greater, it was easier to counterfeit by way of dye), all illustrate how dependent the colonists and Indians were on these shell beads.

There was some fluctuation in wampum's value, as is always the case with currency, but by and large, it remained uniformly acceptable and desirable to nearly the end of the 17th century in the colonies and into the 18th century along the frontiers.

Its worth, however, was tenable. Wampum was only good as long as the Indians prized it. If or when that was no longer the case, an economic crash could occur throughout the English colonies that would have had serious consequences in New England, and subsequently, in the mother country as well.

It was this realization, along with the declining demand for fur, that moved the New Englanders to gradually phase out wampum as a currency standard. With silver from the West Indies beginning to circulate in North America, wampum was slowly being replaced by that universally valued commodity, metal coinage.

http://www.mohicanpress.com/mo08017.html (http://www.mohicanpress.com/mo08017.html)

Two things happened:

1) The colonists, who had hitherto absorbed the wampum glut by their demand for the beads, lost interest in wampum partly because they didn't require as many furs (wampum was the currency the colonists used to buy pelts). Wampum lost value as a medium of exchange as the increase in available currency took its toll.

Counterfeiting exacerbated the problem of undermining the medium of exchange value of the currency. A given piece of wampum lost purchasing power because of wampum glut AND a competing currency of coinage.

2) The artistic value part of wampum as a store of wealth suffered as well. Any philatelist can tell you that old stamps get their "value", not from a pretty painting on the stamp, but MAINLY from their scarcity.

This was depressing. Imagine all those hours spent painstakingly making wampum and that neighboring squaw that is all thumbs can suddenly make several times as much as you can just because she has a white devil metal thingamajig to goose production! And now the white devils don't want them as much as they used to either.  :P  :(

But as you can see below, despite its disappearance as a currency, wampum survives to this day as a product of patient craftsmanship, artistry and historical communication.

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It is interesting, if not ironic, to note that wampum remains valuable even today. A single wampum bead made from Quahog or Whelk, manufactured in New England coastal areas can cost up to $10! Overseas wampum is less expensive, but still demands a good price. Wampum, the first currency of the new world, has survived as a desired item long enough to be considered a classic.

But it would never regain its position as a medium of exchange/currency.

(https://pbs.twimg.com/media/Bm_vkWbCUAAaoZw.jpg)
Two Row Wampum Treaty from Elder, Yvonne Thomas.pic.twitter.com/EtjkqHsG9o The patient artistry and symbolism crafted in this wampum is an example of how wampum is a store of value. 

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Celebrating 400 Years of the Two Row Wampum

Vanessa Parker

May 25, 2013

In an effort to maintain a separate and peaceful coexistence, an agreement was made 400 years ago between a group of Haudenosaunee nations and the incoming European settlers who were rapidly arriving. That agreement remains valid today.

The Two Row Wampum was made with strings of wampum, or crushed shells, which were made into purple and white beads threaded onto strings, forming a belt.

]The white beads, located outside of two large purple rows of beads, represent the truth.

The purple beads are separated into two rows, one representing the canoe of the Haudenosaunee, the other representing the sailboat of the incoming Europeans.

Each row represents the separate cultures, traditions, governments and religions.

In between the purple rows run three rows of white beads. These represent peace, friendship and maintaining a sense of equality forever.
full article here:

http://indiancountrytodaymedianetwork.com/2013/05/25/celebrating-400-years-two-row-wampum-149469 (http://indiancountrytodaymedianetwork.com/2013/05/25/celebrating-400-years-two-row-wampum-149469)

What lessons can we take from the above Native American experience?

1) Money is created in order to ease the transfer of goods and services. This medium of exchange normally has the following qualities:

A. Liquidity

B. Durability

C. Portability

D. Agreed upon value per unit


2) The ENERGY it takes to create said money is directly proportional to a unit of said money as a store of value.



The extreme situation, never reached by wampum because it always took SOME skill and energy to make, is FIAT currency where it has ZERO value as a store of wealth.

The case of the US dollar is BELOW ZERO as a store of wealth because, in addition to it being fiat, the supply is growing absent any energy input whatsoever. So the dollar loses value as it sits from Fed  inflation (counterfeiting). Legal Tender Laws force the citizenry to run around trying to preserve some value in a currency that shrinks in value year after year. Many of these value chasers go for PMs, paintings, land, antique cars, Early American antique furniture, etc. They are all looking for something that meets the criteria of liquidity, durability, portability and agreed upon value per unit to a greater or lesser degree.

3) Beyond the basic biochemical needs of proper nutrition, shelter and health, human culture places a great deal of value on tangibles and intangibles outside the default requirements of human life.



Humans will always value creativity and imaginative and useful innovations that bring beauty, comfort and utility to our lives as STORES OF VALUE.

What price can you place on a song? What value does a set of verses have that took a song writer 5 minutes to write after he had dreamed them versus a painstakingly written flute sonata?

Hard to say, right? One took a lot less ENERGY than the other, both in KWhs and artistic creativity, but may have sold for a lot more money.


What about greed and other economy influencing factors? ???

The issue of greed, hoarding, the amount of currency in circulation as a trigger for consumerism or the reverse are all PRODUCTS of distortions in an economy.

Most economists espouse the view  that currency does not simply encourage certain types of behavior deleterious to an economy, but DICTATES IT.

I don't feel that way because I view money as an EFFECT, not a CAUSE. I do agree that the money supply certainly must remain in a fairly constant proportion per capita to avoid distortions.

Food will never be currency simply because, even if you could freeze dry it with solar energy and store it also with solar energy for a hundred years or so to use it as you needed it, there is only so much food you or anybody else can eat.

People want furniture, tools, culture, beauty, some entertainment, etc. A prisoner in solitary confinement goes bonkers even though he has sufficient food, shelter and health care.

Life is MUCH more than food, shelter and health.

Those who disdain precious metals as a store of wealth feel that, since gold hoarders can't eat their gold, it therefore has no intrinsic value. However, as all gold bugs have noticed, gold has the following "money-like" attributes:

A. Liquidity
B. Durability
C. Portability
D. Agreed upon value per unit

Gold bugs observe, rightfully, that the US dollar retains the above attributes by the big gun the government has called Legal Tender Laws, not by reality. This amounts to a government distortion of the value of the currency to for the benefit of the owners of the Federal Reserve Banking Cartel and the detriment (i.e. impoverishment) of the average American citizen.  Consequently they take any excess dollars in their possession and quickly convert them something besides dollars because the value of said dollars, like wampum (eventually,) after the metal hand drills were introduced by the white devils, is going down.

Gold bugs watch the Fed money supply going exponential in direct proportion to the galloping inflation the government refuses to own up to.  (http://www.createaforum.com/gallery/renewablerevolution/3-120716190938.png)

This is far worse than wampum inflation because this is raw counterfeiting of fiat! People aware of this start to buy this, that and the other with those magically shrinking dollars from collector's items like stamps to maybe antique furniture to paintings to rare coins to, you guessed it, gold!

Gold is hard to counterfeit. There is a way to use nuclear physics (this is not a joke, it's the real deal!) to transmute some cheap element to gold but the energy expenditure is greater than the energy needed to mine and produced finished gold from ore. However, when fusion becomes a reality, the equation for gold may change and, it too, will go the way of wampum. Don't worry gold bugs, it may be a while yet.*

The Federal Reserve Banking Cartel realizes there are a lot people out there on to their game so they start manipulating  the precious metals paper prices (tanking them) to drive the gold bugs back to the Fed fiat fantasy of a strong dollar. 

I observed this blatant and economically disastrous distotion of currency value and, after thinking about it a while, came to the conclusion that we need something like wampum but without those hand drills or the counterfeiting dye!   (http://www.createaforum.com/gallery/renewablerevolution/3-051113192052.png)My wonderful and innovative Kilowatt Hour Monetary Standard is, horror of horrors,  greeted with hardy harrs and guffaws from the gnomes of the Federal Reserve.   (http://www.pic4ever.com/images/funny.gif) Harrumph!  (http://www.pic4ever.com/images/swear1.gif)



ANY currency that is not BOTH a medium of exchange and a store of value will be corrupted, distorted, counterfeited and generally devalued, PERIOD.  (http://www.pic4ever.com/images/301.gif)


The "tokens" or other symbols used for such currency obviously introduces DEBT because there might be a whole lot more symbols, tokens or pieces of paper with funny squiggles on them than the ACTUAL store of value represented. THAT'S JUST A DETAIL. If you can avoid corruption and insure transparency, that can be minimized.

The "fear" that hoarders are going to trash the economy by taking money out of circulation is unfounded. That's merely an EFFECT of capitalism. It has nothing to do with the concept of money per se.

This EFFECT is really quite easy to prevent. All you have to do is progressively tax wealth (NOT INCOME!) above X net worth to keep a lid on excess capital accumulation. Thomas Jefferson was in favor of that, as a matter of fact (google it!).

Once everyone is on board with a stable currency like Kilowatt Hour Equivalents, I would also eliminate the difference between earned and unearned income (capital gains) and progressively tax that too. That appropriate and fair tax structure would serve as an additional DETERRENT hoard and a guarantee that the velocity of money will remain fairly constant. 

Have a nice day.

*
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Nuclear experiments have successfully transmuted lead into gold, but the expense far exceeds any gain.[7] It would be easier to convert gold into lead via neutron capture and beta decay by leaving gold in a nuclear reactor for a long period of time. (http://www.emofaces.com/en/emoticons/n/nuclear-emoticon.gif)[/b  :P]


http://en.wikipedia.org/wiki/Nuclear_transmutation
Title: Activist States: "Money is not Speech" at Supreme Court Corporate LACKEYS
Post by: AGelbert on February 28, 2014, 03:44:28 pm
http://www.youtube.com/watch?v=2K-8FJ114kU&feature=player_embedded

The iron curtain of the Supreme Court was breached on Wednesday. Activists from the group 99Rise entered the Supreme Court chamber. After videoing the session where the justice can be clearly seen, one of the activists stood up. He said the following before he was accosted by the Supreme Court security detail.

“I rise on behalf of the vast majority of the American people who believe that money is not speech, corporations are not people, and our democracy should not be for sale to the highest bidder. Overturn Citizens United. Keep the cap on McCutcheon. The people demand democracy.” According to 99Rise9(http://www.pic4ever.com/images/301.gif)(http://www.pic4ever.com/images/19.gif)




FOR IMMEDIATE RELEASE: February 26, 2014

 Washington, DC - Activists from the grassroots group 99Rise, entered the Supreme Court of the United States chambers today, disrupted the proceedings, and demanded the restoration of democracy in America.
"Generations of Americans have shed blood, sweat, and tears to win the right to vote and extend the promise of democracy in America,” said Kai Newkirk, co-founder of 99 Rise and a participant in today's action, “It's time for our generation to step up and do whatever it takes to defend that right and end the corruption of big money in politics. If that means risking arrest in order to speak truth to power, so be it."

The participants were inspired to act in response to the recent decisions of the Supreme Court in Citizens United v. FEC, which demolished the wall of separation between wealth and state, and the threat that the Supreme Court would make it even worse in McCutcheon v. FEC, which would remove the cap on aggregate candidate contributions.

"The Supreme Court's Citizens United decision was a betrayal of the American people and of our democracy. It took the systemic corruption of our government by big money interests to an obscene new level. If the Court eliminates the cap on aggregate donations by an individual in an election cycle - the question at hand in the McCutcheon case - it would put another round of shots into the dying body of our democracy."
>:(


The group is calling for a restoration of free and fair elections in America, an end to the corruption in our politics, and the restoration of representative democracy in America.
Using nonviolent direct action and civil disobedience, such as was used in the Civil Rights Movement, they have been drawing attention to this issue with actions from coast to coast. (http://www.pic4ever.com/images/47b20s0.gif)

At today's action, Newkirk made this speech during the proceedings: “I rise on behalf of the vast majority of the American people who believe money is not speech, corporations are not people, and government should not be for sale to the highest bidder. We demand that you overturn Citizens United, keep the cap inMcCutcheon, and an end to corruption. We demand free and fair elections and a real democracy now.” (http://www.pic4ever.com/images/301.gif) (http://www.pic4ever.com/images/19.gif)


99Rise.org is a grassroots organization fighting to end corruption and win real democracy through nonviolent resistance. For more information, including pictures of previous actions, please visit 99Rise.org.

http://www.dailykos.com/story/2014/02/27/1281027/-Watch-heckler-inside-Supreme-Court-shout-money-is-not-speech

Agelbert NOTE: I will be checking out 99Rise.org. It sounds like a GREAT ORGANIZATION!  ;D
Title: Re: Money
Post by: AGelbert on May 24, 2014, 04:25:05 pm
How Much US Debt Does China Own?


The US national debt is more than $17 trillion US Dollars (USD), or roughly equal to the country’s gross domestic product (GDP), and China owns about 7.6% of it, or more than $1.2 trillion USD. China is the largest overseas creditor of the US. Japan is the next-largest overseas creditor, and it owns about $1.1 trillion USD of the US national debt. More than one-fourth of the US debt is actually owed to its own federal government, such as the Social Security trust funds and the Federal Reserve.

More about the US national debt:


•The US was created with a national debt; a 1790 analysis estimated that the new country had a debt of $75 million USD, or about 30% of its GDP.

•As of 2014, Andrew Jackson is the only US president to get the US national debt completely paid off during his presidency — the country was debt-free from 1835 to 1836.

•The US national debt has not been below $1 billion USD since 1866.

http://www.wisegeek.com/how-much-us-debt-does-china-own.htm


Agelbert NOTE: There you have it - PROOF that what WE saved in Social Security has been pilfered away by the lying, thieving crooks in our government for corporate war and fossil fuel profiteering. Big Oil OWES US that money! (http://www.pic4ever.com/images/301.gif)
 


Title: Re: Money
Post by: AGelbert on June 14, 2014, 07:38:10 pm
Daily Kos member

Thu Jun 12, 2014 at 07:33 PM PDT.

Study: 10,000 Great Recession Suicides Due To Austerity

(http://endtimesprophecyreport.files.wordpress.com/2013/06/suicide-or-murder-1.jpg?w=406)

by
Reinvented Daddy


Like we didn't already know this:
  >:(


(Al Jeezera)Researchers at the University of Oxford and the London School of Hygiene & Tropical Medicine have suggested that more than 10,000 suicides in Europe and North America can be linked to the severe economic downturn brought on by the 2008 financial crisis.
The study, published in the British Journal of Psychiatry, adds to a growing body of evidence that suggests that economic downturns have serious but somewhat predictable mental health consequences, and that with the right kind of intervention, the mental impact of recession can be reduced.
This is about as prestigious a study panel as you could put together and their findings are borne out with five years of hindsight.  This economic collapse was brought on by a combination of financial deregulation and unnecessary deficit spending brought on by tax cuts for the rich and the Iraq War.  Millions of victims have seen their jobs lost, wages shrunk and homes lost but the greatest price was paid by those who couldn't take any more pain from this class war and chose to give up the ghost.   
I emphasis that last line: "... with the right kind of intervention, the mental impact of recession can be reduced"   That is a direct indictment of the Austerians on both continents who have, and continue to, chosen to fight this depression with spending cuts that are paid by the poor, down and out, unemployed and underemployed who saw their savings crushed and their lives ruined.   Every time long term unemployment insurance is blocked by the
 Right, each time food stamp recipients are demonized, lives are lost.


In the U.S., the suicide rate increased by 4.8 percent between 2007 and 2010. Canada saw a similar increase. In the EU, where the suicide rate had been steadily decreasing until the recession, it jumped from the pre-recession rate of about 10 suicides per 10,000 people by about 6.5 percent at the start of the downturn and remained at the higher rate through 2011.
...

In Sweden, Finland and Austria for example — where government assistance for the unemployed and clinically depressed is more readily available than elsewhere — the suicide rate remained consistent or saw small reductions despite the economic downturn.
It is not a moral paradox.


 Conservatives are killing people without conscience.  The "Pro-Life" Party has blood on it's hands it can never wash off.


http://www.dailykos.com/story/2014/06/12/1306476/-Study-10-000-Great-Recession-Suicides-Due-To-Austerity
Title: Re: Money
Post by: AGelbert on June 27, 2014, 11:45:28 pm
(http://www.createaforum.com/gallery/renewablerevolution/3-270614234137.png)
http://www.youtube.com/watch?v=5fbvquHSPJU&feature=player_embedded
Title: Re: Money
Post by: AGelbert on July 29, 2014, 10:39:01 pm
https://www.youtube.com/watch?v=vttbhl_kDoo&feature=player_embedded
Title: Re: Money
Post by: AGelbert on August 06, 2014, 10:04:01 pm
Watch this one minute clip to learn how Capitalism has FAILED to accumulate and protect the most important Capital, thereby making so called modern "Capitalism" a monstrous system that actually SHRINKS,  DEGRADES and DESTROYS  Capital!   (http://www.createaforum.com/gallery/renewablerevolution/3-200714183404.bmp)

http://viewrz.com/video/real-money
Title: Re: Money
Post by: AGelbert on October 24, 2014, 03:47:10 pm
Dollar Rally Into October Upends Earnings From 3M to IBM

By Matt Townsend and Andrea Wong  Oct 24, 2014

http://www.bloomberg.com/news/2014-10-23/dollar-rally-into-october-upends-earnings-from-3m-to-ibm.html


Agelbert NOTE: More proof that Homo SAPdom is dumber than a wedge.  (http://www.pic4ever.com/images/gen152.gif)


OR just INSANE. (http://www.pic4ever.com/images/p8.gif) (http://www.pic4ever.com/images/126fs2277341.gif)


(http://www.desismileys.com/smileys/desismileys_6656.gif)  (http://www.desismileys.com/smileys/desismileys_1730.gif)


(http://www.cinefilia.cl/wp-content/uploads/2014/06/ThelmaLouise4_001Pyxurz.jpg)
Look out below!


Title: Re: Money
Post by: AGelbert on November 05, 2014, 11:23:33 pm
https://www.youtube.com/watch?v=XcGh1Dex4Yo&feature=player_embedded
Government Control of Money = a SCHEME (i.e. a scam  ;D) to make SOMETHING for NOTHING.  (http://www.createaforum.com/gallery/renewablerevolution/3-200714183404.bmp)
Title: Re: Money
Post by: AGelbert on January 28, 2015, 08:26:12 pm
For those who think Banks creating money out of nothing is a New trick (http://www.desismileys.com/smileys/desismileys_2932.gif)

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"The bank hath benefit of interest on all moneys which it creates out of nothing." -- William Paterson, founder of the Bank of England in 1694

After the revolution, the new United States adopted a radically different economic system in which the government issued its own value-based money, so that private banks like the Bank of England were not siphoning off the wealth of the people through interest-bearing bank notes.

"The refusal of King George 3rd to allow the colonies to operate an honest money system, which freed the ordinary man from the clutches of the money manipulators, was probably the prime cause of the revolution." -- Benjamin Franklin, Founding Father

Following the revolution, the US Government actually took steps to keep the bankers out of the new government!


"Any person holding any office or any stock in any institution in the nature of a bank for issuing or discounting bills or notes payable to bearer or order, cannot be a member of the House whilst he holds such office or stock." -- Third Congress of the United States Senate, 23rd of December, 1793, signed by the President, George Washington

 
But bankers are nothing if not dedicated to their schemes to acquire your wealth, and know full well how easy it is to corrupt a nation's leaders.   (http://www.pic4ever.com/images/mocantina.gif)

Just one year after Mayer Amschel Rothschild had uttered his infamous "Let me issue and control a nation's money and I care not who makes the laws", the bankers succeeded in setting up a new Private Central Bank called the First Bank of the United States, largely through the efforts of the Rothschild's chief US supporter, Alexander Hamilton.
  (http://www.pic4ever.com/images/acigar.gif) (http://www.pic4ever.com/images/www_MyEmoticons_com__burp.gif)



Founded in 1791, by the end of its twenty year charter the First Bank of the United States had almost ruined the nation's economy, while enriching the bankers. Congress refused to renew the charter and signaled their intention to go back to a state issued value based currency on which the people paid no interest at all to any banker. This resulted in a threat from Nathan Mayer Rothschild against the US Government, "Either the application for renewal of the charter is granted, or the United States will find itself involved in a most disastrous war." Congress still refused to renew the charter for the First Bank of the United States, whereupon Nathan Mayer Rothschild railed, "Teach those impudent Americans a lesson! Bring them back to colonial status!" The British Prime Minister at the time, Spencer Perceval was adamantly opposed to war with the United States, primarily because the majority of England's military might was occupied with the ongoing Napoleonic wars. Spencer Perceval was concerned that Britain might not prevail in a new American war, a concern shared by many in the British government. Then, Spencer Perceval was assassinated (the only British Prime Minister to be assassinated in office) and replaced by Robert Banks Jenkinson, the 2nd Earl of Liverpool, who was fully supportive of a war to recapture the colonies.

Read more: ALL WARS ARE BANKERS' WARS! | WHAT REALLY HAPPENED http://whatreallyhappened.com/WRHARTICLES/allwarsarebankerwars.php#ixzz3QAW6dmuw (http://whatreallyhappened.com/WRHARTICLES/allwarsarebankerwars.php#ixzz3QAW6dmuw)
Title: Re: Money
Post by: AGelbert on February 09, 2015, 03:56:49 pm
(http://www.createaforum.com/gallery/renewablerevolution/3-290115024328.png)
Greek good guy tells it like it is.  (http://www.runemasterstudios.com/graemlins/images/2thumbs.gif) 

IF the predatory capitalists recover their sanity (and deep six ex nihilo money creating)  with Greek help, this is the way it SHOULD work out:    (http://www.emofaces.com/png/200/emoticons/fingerscrossed.png)

https://www.youtube.com/watch?v=6o_jHagKjZ4&feature=player_embedded
Otherwise, it's CURTAINS for the Eurozone!  (http://www.pic4ever.com/images/cowboypistol.gif)
Title: Re: Money
Post by: AGelbert on February 09, 2015, 04:23:40 pm
Too much Wampum leads to unhappy campers

Quote
Wampum, ke`kwuk, squau-tho-won; all are Algonquian words for shell beads or string of shell beads. Wampumpeage is a Narragansett word for "white beads strung". Throughout northeastern America, wampum was used for jewelry, gifts, communication, historical record of important events, religious ceremonies, and trade. It was the earliest form of currency known in North America. Its value was derived from the difficulty involved in producing the cylindrical bead from both Quahog and Whelk, and the scarcity of suitable shells. White beads were made from Whelk, purple-blackish from Quahog.

The beads were produced from the inner spiral of the shells. The spiral or column must be thick enough to withstand grinding, shaping and drilling. The shells were collected along the coastal shores during the summer, and worked in the winter months. The inner spirals were cut into cylinders measuring 1/4 inch long by 1/8 inch diameter. Each bead was then smoothed through grinding, polished, drilled, and finally strung on hemp fibers or sinew. It was difficult, tedious, and time consuming work. The proportionate scarcity of the Quahog dark beads doubled their value to that of white wampum.

http://www.mohicanpress.com/mo08017.html (http://www.mohicanpress.com/mo08017.html)

She sells seashells by the seashore. If she sells seashells by the seashore, how many seashore shells does she sell? This old tongue twisting pronunciation trainer underscores step one in the manufacture of Wampum. You needed a supply of a certain, special and very attractive type of Calcium Carbonate, which was limited in quantities, to begin to do WORK=ENERGY INPUT plus some ARTISTIC CREATIVITY on the seashells in order to produce a CURRENCY that was BOTH a medium of exchange AND a store of value.   

(http://upload.wikimedia.org/wikipedia/commons/thumb/8/8e/Wampum_ej_perry.jpg/300px-Wampum_ej_perry.jpg)

In a barter economy, the transfer of goods and services from one party to another is hindered by the lack of liquidity of say, an animal, a bear skin or whatever. The lack of a medium of exchange that can be subdivided into small enough units for both parties to make up perceived different values in a barter transaction is the need thar fosters the creation of "money" in the first place.

Wampum was initially a form of artistic expression as well as a form of communication (it was a store of value as jewelry and venerable truth through news and agreements).

However, as the quantity gradually increased and most natives agreed more or less on its value, wampum began providing the liquidity that a barter economy could not.

Consequently the Native Americans along the eastern area of North America gradually adopted wampum as a currency in addition to valuing its beauty (jewelry = bling). The Natives that lived along the beach had an edge on those inland because of easy access to the raw materials.

(http://wordbuff.com/wp-content/uploads/2012/05/wotd-wampum.jpg)

Quote
With the influx of more Europeans in the 17th century, notably the Dutch and English, metal tools became widely available to Indians in the east.

Among these tools were slender metal drills which greatly facilitated the production of wampum. These new tools enabled the Indians to produce uniform beads more quickly and with greater ease.

Applying basic economic principles to wampum as a commodity/currency in the 17th century, it might be assumed that wampum decreased in value as its production was sped up.
On the contrary, its value remained stable.

Again applying the basic economic rule of supply and demand, though the Europeans brought tools that helped to increase wampum production, they also balanced their contribution with an increased demand for the shell beads.

http://www.mohicanpress.com/mo08017.html (http://www.mohicanpress.com/mo08017.html)

Wampum is pretty and, until the Europeans showed up with metal hand tools, a good store of wealth because the amount of energy=work it took to make it as well as the amount of shells available  limited the amount of wampum in circulation.

But those metal thingamajigs the white devils brought made it EASY (LESS TIME & ENERGY=WORK) to make lots of pretty wampum (metal hand drills). This new wampum looked just as good or better than the older stuff made with less sophisticated (non-metal) tools.

At first everybody prospered. There was more wampum, and contrary to standard economic theory that when you increase the currency in circulation, you get inflation, this did not happen right away. Everybody, including the white devils  (http://www.createaforum.com/gallery/renewablerevolution/3-141113185047.png)
, were happy with the wampum economy.

But time passed and things changed.


Quote
As the New England colonists adopted wampum as their standard currency, incidents of fraud (wampum counterfeit) increased.

Both Indian and Englishman were known to pass off inferior or fraudulent wampum to unsuspecting colonials.


In time, regulation and a standardized measure of wampum strands was implemented. A fathom (6 feet) was the most usual measurement and instantly denoted a specific monetary value measured against English shillings, pence, pounds, and so forth.

The fact that legislation was introduced, regulations regarding wampum manufacture were set down, penalties for counterfeit or inferior quality wampum trading were harsh, and in some colonies the rejection of dark wampum for only white (though its value was greater, it was easier to counterfeit by way of dye), all illustrate how dependent the colonists and Indians were on these shell beads.

There was some fluctuation in wampum's value, as is always the case with currency, but by and large, it remained uniformly acceptable and desirable to nearly the end of the 17th century in the colonies and into the 18th century along the frontiers.

Its worth, however, was tenable. Wampum was only good as long as the Indians prized it. If or when that was no longer the case, an economic crash could occur throughout the English colonies that would have had serious consequences in New England, and subsequently, in the mother country as well.

It was this realization, along with the declining demand for fur, that moved the New Englanders to gradually phase out wampum as a currency standard. With silver from the West Indies beginning to circulate in North America, wampum was slowly being replaced by that universally valued commodity, metal coinage.

http://www.mohicanpress.com/mo08017.html (http://www.mohicanpress.com/mo08017.html)

Two things happened:

1) The colonists, who had hitherto absorbed the wampum glut by their demand for the beads, lost interest in wampum partly because they didn't require as many furs (wampum was the currency the colonists used to buy pelts). Wampum lost value as a medium of exchange as the increase in available currency took its toll.

Counterfeiting exacerbated the problem of undermining the medium of exchange value of the currency. A given piece of wampum lost purchasing power because of wampum glut AND a competing currency of coinage.


2) The artistic value part of wampum as a store of wealth suffered as well. Any philatelist can tell you that old stamps get their "value", not from a pretty painting on the stamp, but MAINLY from their scarcity.

This was depressing. Imagine all those hours spent painstakingly making wampum and that neighboring squaw that is all thumbs can suddenly make several times as much as you can just because she has a white devil metal thingamajig to goose production! And now the white devils don't want them as much as they used to either.   ???

But as you can see below, despite its disappearance as a currency, wampum survives to this day as a product of patient craftsmanship, artistry and historical communication.

(http://www2.crcna.org/site_uploads/uploads/ccg/mj200809/tworowwampumbelt.jpg)
Double row Wampum is beautiful AND still valuable.

Quote
It is interesting, if not ironic, to note that wampum remains valuable even today. A single wampum bead made from Quahog or Whelk, manufactured in New England coastal areas can cost up to $10! Overseas wampum is less expensive, but still demands a good price. Wampum, the first currency of the new world, has survived as a desired item long enough to be considered a classic.

But it would never regain its position as a medium of exchange/currency.

Vanessa Parker

May 25, 2013

In an effort to maintain a separate and peaceful coexistence, an agreement was made 400 years ago between a group of Haudenosaunee nations and the incoming European settlers who were rapidly arriving. That agreement remains valid today.

The Two Row Wampum was made with strings of wampum, or crushed shells, which were made into purple and white beads threaded onto strings, forming a belt.

The white beads, located outside of two large purple rows of beads, represent the truth.

The purple beads are separated into two rows, one representing the canoe of the Haudenosaunee, the other representing the sailboat of the incoming Europeans.

Each row represents the separate cultures, traditions, governments and religions.

In between the purple rows run three rows of white beads. These represent peace, friendship and maintaining a sense of equality forever.[/size][/quote]
full article here:

http://indiancountrytodaymedianetwork.com/2013/05/25/celebrating-400-years-two-row-wampum-149469 (http://indiancountrytodaymedianetwork.com/2013/05/25/celebrating-400-years-two-row-wampum-149469)

What lessons can we take from the above Native American experience?

1) Money is created in order to ease the transfer of goods and services. This medium of exchange normally has the following qualities:

A. Liquidity

B. Durability

C. Portability

D. Agreed upon value per unit


2) The ENERGY it takes to create said money is directly proportional to a unit of said money as a store of value.

The extreme situation, never reached by wampum because it always took SOME skill and energy to make, is FIAT currency where it has ZERO value as a store of wealth.

The case of the US dollar is BELOW ZERO as a store of wealth because, in addition to it being fiat, the supply is growing absent any energy input whatsoever. So the dollar loses value as it sits from Fed  inflation (counterfeiting). Legal Tender Laws force the citizenry to run around trying to preserve some value in a currency that shrinks in value year after year. Many of these value chasers go for PMs, paintings, land, antique cars, Early American antique furniture, etc. They are all looking for something that meets the criteria of liquidity, durability, portability and agreed upon value per unit to a greater or lesser degree.

3) Beyond the basic biochemical needs of proper nutrition, shelter and health, human culture places a great deal of value on tangibles and intangibles outside the default requirements of human life.

Humans will always value creativity and imaginative and useful innovations that bring beauty, comfort and utility to our lives as STORES OF VALUE.

What price can you place on a song? What value does a set of verses have that took a song writer 5 minutes to write after he had dreamed them versus a painstakingly written flute sonata?

Hard to say, right? One took a lot less ENERGY than the other, both in kwhs and artistic creativity, but may have sold for a lot more money.

What about greed and other economy influencing factors?

The issue of greed, hoarding, the amount of currency in circulation as a trigger for consumerism or the reverse are all PRODUCTS of distortions in an economy.

Most economists espouse the view  that currency does not simply encourage certain types of behavior deleterious to an economy, but DICTATES IT.

I don't feel that way because I view money as an EFFECT, not a CAUSE. I do agree that the money supply certainly must remain in a fairly constant proportion per capita to avoid distortions.

Food will never be currency simply because, even if you could freeze dry it with solar energy and store it also with solar energy for a hundred years or so to use it as you needed it, there is only so much food you or anybody else can eat.

People want furniture, tools, culture, beauty, some entertainment, etc. A prisoner in solitary confinement goes bonkers even though he has sufficient food, shelter and health care.

Life is MUCH more than food, shelter and health.

Those who disdain precious metals as a store of wealth feel that, since gold hoarders can't eat their gold, it therefore has no intrinsic value. However, as all gold bugs have noticed, gold has the following "money-like" attributes:

A. Liquidity
B. Durability
C. Portability
D. Agreed upon value per unit

Gold bugs observe, rightfully, that the US dollar retains the above attributes by the big gun the government has called Legal Tender Laws, not by reality. This amounts to a government distortion of the value of the currency to for the benefit of the owners of the Federal Reserve Banking Cartel and the detriment (i.e. impoverishment) of the average American citizen.  Consequently they take any excess dollars in their possession and quickly convert them something besides dollars because the value of said dollars, like wampum (eventually,) after the metal hand drills were introduced by the white devils, is going down.

Gold bugs watch the Fed money supply going exponential in direct proportion to the galloping inflation the government refuses to own up to. (http://images.sodahead.com/polls/000370273/polls_Smiley_Angry_256x256_3451_356175_answer_4_xlarge.png)


This is far worse than wampum inflation because this is raw counterfeiting of fiat! People aware of this start to buy this, that and the other with those magically shrinking dollars from collector's items like stamps to maybe antique furniture to paintings to rare coins to, you guessed it, gold!

Gold is hard to counterfeit. There is a way to use nuclear physics (this is not a joke, it's the real deal!) to transmute some cheap element to gold but the energy expenditure is greater than the energy needed to mine and produced finished gold from ore. However, when fusion becomes a reality, the equation for gold may change and, it too, will go the way of wampum. Don't worry gold bugs, it may be a while yet.*

The Federal Reserve Banking Cartel realizes there are a lot people out there on to their game so they start manipulating  the precious metals paper prices (tanking them) to drive the gold bugs back to the Fed fiat fantasy of a strong dollar. 

I observed this blatant and economically disastrous distortion of currency value and, after thinking about it a while, came to the conclusion that we need something like wampum but without those hand drills or the counterfeiting dye!   (http://www.createaforum.com/gallery/renewablerevolution/3-051113192052.png)My wonderful and innovative Kilowatt Hour Monetary Standard is, horror of horrors,  greeted with hardy harrs and guffaws from the gnomes of the Federal Reserve.   (http://www.pic4ever.com/images/funny.gif) Harrumph!  (http://www.pic4ever.com/images/swear1.gif)

ANY currency that is not BOTH a medium of exchange and a store of value will be corrupted, distorted, counterfeited and generally devalued, PERIOD.
(http://www.pic4ever.com/images/301.gif)


The "tokens" or other symbology that is used for such currency obviously introduces DEBT because there might be a whole lot more symbols, tokens or pieces of paper with funny squiggles on them than the ACTUAL store of value represented. THAT'S JUST A DETAIL. If you can avoid corruption and insure transparency, that can be minimized.

The "fear" that hoarders are going to trash the economy by taking money out of circulation is unfounded. That's merely an EFFECT of capitalism. It has nothing to do with the concept of money per se.

This EFFECT is really quite easy to prevent. All you have to do is progressively tax wealth (NOT INCOME!) above X net worth to keep a lid on excess capital accumulation. Thomas Jefferson was in favor of that, as a matter of fact (Google it!).

Once everyone is on board with a stable currency like Kilowatt Hour Equivalents, I would also eliminate the difference between earned and unearned income (capital gains) and progressively tax that too. That appropriate and fair tax structure would serve as an additional DETERRENT hoard and a guarantee that the velocity of money will remain fairly constant. 

Have a nice day.

*
Quote
Nuclear experiments have successfully transmuted lead into gold, but the expense far exceeds any gain.[7]  It would be easier to convert gold into lead via neutron capture and beta decay by leaving gold in a nuclear reactor for a long period of time.


http://en.wikipedia.org/wiki/Nuclear_transmutation (http://en.wikipedia.org/wiki/Nuclear_transmutation)
Title: Re: Money
Post by: AGelbert on March 22, 2015, 06:41:36 pm
GDP Does Not Measure Progress (http://www.freesmileys.org/emoticons/tuzki-bunnys/tuzki-bunny-emoticon-028.gif)
 

 Did you know that if we all paid off our debts, the money system would collapse? The entire money supply is on loan to us from the banking system.

 "We need an economic system that allows for stability without relentless growth and consumption." says Tim Jackson, author of "Prosperity Without Growth" in this short film that offers plenty of reasonable and inspiring suggestions for change.

"Enough is Enough"
is about understanding the limits we face and offering a better economic solution that works for both people and the planet. (http://www.runemasterstudios.com/graemlins/images/2thumbs.gif) 

Although income has tripled in the US and UK since the 1950's, people have not become any happier. Income is no longer improving people's lives in the wealthy nations, and we need a different measuring stick than GDP.

 Natalie Bennett, leader of the Green Party in the UK and Wales explains that the people who developed the measure of GDP explicitly said: "Do not use this to measure national progress. This is a gross inaccurate figure."

 Here is a well presented synopsis of What Isn't Working, and how we can change course.

 It starts with our own small choices about work, money, what we consume, what we prioritize. That is what will lead to the sea change we need.

 -- Bibi Farber

 This video was produced by Rob Dietz and Dan O'Neill

https://www.youtube.com/watch?v=xQ-LYElvtEU&feature=player_embedded

Title: Re: Money
Post by: AGelbert on March 22, 2015, 07:18:21 pm
Does Being Rich Make You a Self-Centered Lawbreaker?  (http://www.pic4ever.com/images/128fs318181.gif) (http://www.freesmileys.org/smileys/smiley-devil19.gif)


Posted on Mar 18, 2015

Work by social psychologist Paul Piff suggests that the more money people have, the more likely they are to cheat or put their needs before those of others.  :(

Quote

BBC News:

In the past, public perception has tended towards the notion that the very poor are more likely to break the rules because they are under financial pressure and face more difficult circumstances.

But Piff’s work suggests the opposite - that having more money makes you care about others less and feel entitled to put your own interests first…After nearly a decade researching this field, Piff has come to the controversial conclusion that being wealthy, rather than transforming you into a benevolent benefactor, can actually be rather bad for your moral fibre…“It isolates you in certain ways from other people psychologically and materially. You prioritise your own needs and your own goals and become less attuned to those around you.

When we feel wealthy, Piff concludes, we need other people less. In the real world, when people have less money, they rely more heavily on their social relationships to get by. Therefore interpersonal relations are prioritized. The rich, by contrast, can buy themselves peace, quiet and space - plus a solution to most problems. There’s nothing like a fat wallet to cheer you up in a crisis. But that tends to isolate them from others’ experiences.

Follow the link, if you dare  ;), for evidence proving that greed IS BAD for YOU, as well as everyone else in society:


http://www.truthdig.com/eartotheground/item/heres_how_we_know_being_rich_pretty_much_makes_law-breaking_jerk_20150318 (http://www.truthdig.com/eartotheground/item/heres_how_we_know_being_rich_pretty_much_makes_law-breaking_jerk_20150318)
Title: Re: Money
Post by: AGelbert on March 23, 2015, 07:07:58 pm
The reason the  blinkered, low IQ offspring of the rich get by better than most of us.   (http://www.createaforum.com/gallery/renewablerevolution/3-200714183337.bmp) >:((http://www.createaforum.com/gallery/renewablerevolution/3-230315185500.gif)
The meritocracy in the USA is an illusion for the suckers. (http://www.pic4ever.com/images/mocantina.gif)
Title: Re: Money
Post by: AGelbert on April 17, 2015, 03:02:03 pm
Dystopia:
(http://www.createaforum.com/gallery/renewablerevolution/3-170415130136.png)

The "currency" of Dystopia:

(http://www.createaforum.com/gallery/renewablerevolution/3-170415131118.png)
3 09 Ralph Borsodi Constant Currency (http://www.scribd.com/doc/13266703/3-09-Ralph-Borsodi-Constant-Currency#)

22 § Community Currency Magazine March 2009 Issue
Quote

The BorsodI Constant aka “the Exeter experiment ”InFLatIon Free Currency (approximately 1971-1974)


United States Constitution forbids the counterfeiting of this nation’s currency, however, it in no way limits the circulation of a completely alternative medium of exchange...

3 09 Ralph Borsodi Constant Currency (http://www.scribd.com/doc/13266703/3-09-Ralph-Borsodi-Constant-Currency#)

What MUST we do to have a type of FUNCTIONAL society based on human CARING CAPACITY instead of the exploited biosphere's "carrying capacity"?  ???

We must adopt a currency that reflects REAL VALUE in the biosphere. The use of this currency must nurture LIFE, not reward coercion, greed, war and death.

Ralph Borsodi came up with a local currency called the "CONSTANT".

I like it. With some fine tuning (http://www.pic4ever.com/images/earthhug.gif)  ;D, it would fit the bill for a Green Libertarian Socialist  currency that would meet the Caring Capacity requirement to nurture LIFE, not reward coercion, greed, war and death.

SNIPPET:
Quote

The first Constants were sold on June 21st 1972. Over a period of about three years, Borsodi presented his ideas to many people who deposited approximately $100,000 in his bank experiment called Arbitrage International and the funds were used to buy the basket of 30 basic commodities on the world market. (Arbitrage International maintained a Luxembourg and a London office, in addition to its temporary headquarters in Exeter, New Hampshire.)

“The value of a Constant was based on that of specific amounts of thirty basic commodities,
including gold, silver, iron, aluminum, lead, copper, nickel, tin, zinc, coal, oil, wheat, barley, rice, rye, oats, soya, maize, wool, cotton, cocoa, coffee, copra, hides, jute, rubber, cement, sulphur and sugar, and holders could sell them at any time for the total of whatever the constituents were then worth:

(http://www.createaforum.com/gallery/renewablerevolution/3-170415140958.jpeg)

Borsodi’s organisation, Independent Arbitrage International, recalculated the Constant’s underlying value monthly and let the banks know. “ People who bought Constants from Borsodi’s organisation at, say, $2.18 a 10-Constant note were surprised later when the bank
paid them $2.19 for it” a local newspaperman, Mel Most, wrote after the experiment had been running for seven months.” 

“To everybody’s surprise, even including Borsodi, many people bought Constant notes and made deposits in the bank checking account. At the same time Constants began to circulate around the town of Exeter, where restaurants and other businesses accepted them in payment.”

The participants in the experiment saw the value of their constant rise 17% in three years. 36 months into the test, “...a constant bought in 1970 can still be traded for exactly one constant’s worth of goods . . . while a dollar will now buy only 85% of what it would purchase three years ago.”

3 09 Ralph Borsodi Constant Currency (http://www.scribd.com/doc/13266703/3-09-Ralph-Borsodi-Constant-Currency#)

HERE is the typical BALONEY double talk response from the gooberment:

Quote
What did the U.S. Treasury Department have to say about the private currency? 

A Treasury agent was quoted at the time saying, “We don’t care if he issues pine cones, as long as it is exchangeable for dollars so that transactions can be recorded for tax purposes.(http://www.desismileys.com/smileys/desismileys_6961.gif) (http://www.pic4ever.com/images/fly.gif)” 

(http://www.createaforum.com/gallery/renewablerevolution/3-111214174727.png)

"Tax purposes" DOES NOT HAVE BEANS to do with it and COERCION to make people accept a  worthless fiat currency issued by the "Federal" Reserve has EVERYTHING to do with it. But they don't say that, do they?  ;)  THE INSTANT people with REAL currency try to PROPERLY value fiat dollars (see USED toilet paper or less), the profit over planet counterfeiters get their balls in an uproar.  (http://www.freesmileys.org/smileys/smiley-scared002.gif)


(http://www.createaforum.com/gallery/renewablerevolution/3-170415144817.jpeg)


Title: Re: Money
Post by: AGelbert on April 26, 2015, 05:10:02 pm
“There is only one party in the United States, the Property Party … and it has two right wings: Republican and Democrat.”
― Gore Vidal

That said, why vote?

In case you've missed it, I am VEHEMENTLY against BOYCOTTING the vote. Many say we need a new and better system, and agree that the D&R kabuki is a scam - all paid for by the same criminal cabal.... yet boycotters say "we don't have enough people" to make a difference. There's a self-fulfilling prophecy.

You should expand this into a Blog Article.

RE

I probably will. It's (at least) half written as a blog post.

Not nearly enough profanity, though...

(http://www.pic4ever.com/images/bc3.gif)

Voting legitimizes voting.
Not necessarily.... (http://www.desismileys.com/smileys/desismileys_2932.gif)

(http://images.sodahead.com/polls/002193991/122891225_disney_vote_mickey_mouse_tote_xlarge.jpeg)

Vote... Don't vote... I don't really care... TPTB don't either.... (http://www.desismileys.com/smileys/desismileys_2932.gif)

These are the only presidents they really care about: (http://www.desismileys.com/smileys/desismileys_2932.gif)

(http://s3.amazonaws.com/rapgenius/690px-USDnotes.png)

As long as you keep using them, THAT is the vote that really matters.

Not necessarily. In fact,  (http://1.bp.blogspot.com/-TzWpwHzCvCI/T_sBEnhCCpI/AAAAAAAAME8/IsLpuU8HYxc/s1600/nooo-way-smiley.gif)


JD,
I suggest that, in the service of logic and CFS, you casually mention that minor detail called the LEGAL TENDER LAWS when you castigate we-the-people for "supporting voting" by using fiat currency, given "value" by "virtue" of a gun pointed at our heads by TPTB.

And yeah, that APPLIES EQUALLY to the concept that voting has any value whatsoever. ANY argument presented by Surly (a person I have utmost respect for BECAUSE he is honest to the core, NOT because he is erudite - which he most certainly is), if not presented with the caveat that there IS A GUN pointed at our heads 24/7 protecting TPTB in any and all "democratic" activities we-the-people are "urged" to engage in., is NAIVE OR COMPLICIT.

IOW TDOS is RIGHT! No matter how you approach this voting OR fiat currency thing, the game is RIGGED. BUT the REASON the voting is rigged is not just to control the outcome of the vote. THAT is "TAKEN CARE OF" by limiting the choices on the ballot. it is NOT JUST THE RESULTS of voting that are rigged. THE MOST IMPORTANT RIGGING is PSYCHOLOGICAL MINDFU CK.  (http://www.coh2.org/images/Smileys/huhsign.gif)

The PERCEPTION of Democratic Elections is the sine qua non RIGGING required in an inverted totalitarian system of DICTATORSHIP.

WHY? FOR THE PURPOSE OF PROVIDING DOCUMENTED LEGITIMACY in the CORRUPT SYSTEM of TPTB. That is the mindful ck  tool then used to herd us into participating.

HOW? By propagandizing we-the-people with BLAME THE VICTIM castigation that that we are "Aiding" TPTB by not "participating" in voting.

AND THEREFORE, if we do not "vote" (good luck convincing TDOS or me that voting in a U.S. election is voting  8) ), we "deserve whatever corrupt leaders we are saddled with".

(http://www.createaforum.com/gallery/renewablerevolution/3-010215144153.png)

Surly, TPTB are evil and stupid in that their world view is ultimately suicidal; but they are clever. Perhaps I am wrong and you are right. But for you to convince me of that, you will have to make a case that invalidates my allegation that TPTB use propaganda with a threat of force (carrot and stick) as a more efficient ( see religion of TPTB =(http://www.pic4ever.com/images/d2.gif)(http://elqahera-trading.com/home/wp-content/uploads/2012/04/dollar-sign-thumbnail1.jpg)) way to exploit the masses than in-your-face force with 24/7 propaganda that nobody believes (stick with a carrot that looks like a turd).

TPTB like to spend as little energy as possible in keeping us in line, so to speak. They KNOW that they are TOAST if they lose their legitimacy, no matter how much force they have available.

SO, they CONSTANTLY remind us of how WE are the ones that are toast if we rock the boat. The REALITY is, however, that ANY TIME THE PUBLIC WANTS TO, it can become Donald Duck "monitoring" TPTB as in the graphic below. Donald Duck did not do that by voting. 8)

(http://www.createaforum.com/gallery/renewablerevolution/3-260415155340.png)


PS added May 16, 2015:


I may have been fooled and Surly has been gaming people to push the baloney that voting has merit. A professional propagandist would certainly pose as a person who is honest to the core. We live and learn. Et Tu Brute. Surly?  ;)

Agelbert message to all clever propagandists posing as honest, responsible humans:
(http://www.createaforum.com/gallery/renewablerevolution/3-140415130805.png)

Title: Re: Money
Post by: AGelbert on May 10, 2015, 06:49:41 pm
Paul Craig Roberts explains why Greece will go Drachma AND go Russian financing.
(http://roguemoney.net/wp-content/uploads/2015/03/RussiaGreeceFlags.jpg)

https://www.youtube.com/watch?v=eBrs7_LKE3M&feature=player_embedded
Paul Craig Roberts on Russian alliance with Greece

Published on Apr 26, 2015


American economist Paul Craig Roberts' report on King World News about the possibility of a Russian alliance with Southern Europe.
Title: Re: Money
Post by: AGelbert on May 11, 2015, 08:18:05 pm
Quote
Unless and Until the Ruskies and Chinese can set up their own currency regime not linked to the Dollar, they will be short on Cash.  Even the Chinese will be, because T-Bills are NOT cash.  Think about it.

RE


T-Bills ARE in effect the same thing as cash.

They can print their own cash and it will be accepted by those who wish to do business with them.

They also have the ability to counterfeit all the US dollars they want if they wish. They have done this quite successfully already. Engraving notes is a joke task for these countries with today's technologies. Syria, Libya, and North Korea have been printing dollars for decades.

Am with GO on this one, RE. Am at a loss to understand how T-Bills, which are convertible to cash, are not the same as cash.
Formal logic, yes? If x=1 and x=y, then y=1.

Isn't the real economic issue the fact that the debit based economy has rehypothicated itself to a standstill, and there are far too many promissory notes and loans outstanding in a time of negative (real) growth? And not nearly enough collateral.

Surly,
 (http://www.desismileys.com/smileys/desismileys_0293.gif) What Paul Craig Roberts is clearly stating is this, THERE IS NO PLAN TO EVER collect an "owed" debt to the Vampire Bankers disguised as countries in the EU and the ones that run the USA, PERIOD. That is OBVIOUS by the staunch (and STUPID) refusal of Germany to accept the haircut that Greece has graciously offered.

It's really a repeat of the IRRATIONAL PUNITIVE DEBT INFLATION that was pulled on Germany after WWI. And YEAH, the VAMPIRE BANKERS WANT the same destabilizing results in Greece as they got in Germany. Squeezing people to penury, poverty and despaeration produces radicals, which in turn produces a great excuse for more war, etc. These Greedball Bankers never stop doing what they do.  :P
 
The PLAN is perpetual buck passing, empty promises and perpetual pretense of financial responsibility based on predatory capitalist enslavement of an increasing segment of the Greek populace. Paul Craig Roberts, who knows a thing or two about money and economics, says the Greeks should say, "NUTS TO THAT! and DEFAULT.". THEN they have ZERO DEBT and any future Drachma based debt is Russian financed at reasonable rates on a reasonable debt, not an INVENTED DEBT based on Vampire banking baloney.

And then Paul Craig Roberts underscores how solving the Greek crisis undermines the European Union USA Neocon backed push to go to war with Russia. Greece is the Achilles heel (oh the irony!    (http://www.createaforum.com/gallery/renewablerevolution/3-200714191258.bmp) ) of the Vampire bankers!
Putin gets that! (http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png)

Paul Craig Roberts is NOT engaging in hyperbole when he says Putin is emerging as the LEADER OF THE FREE WORLD. I agree.
Title: Re: Money
Post by: AGelbert on May 16, 2015, 03:10:54 pm

How To Live A Moneyless Life Like

 
"Mark Boyle"  (http://www.pic4ever.com/images/19.gif)

https://www.youtube.com/watch?v=5uTyjvAO6ww&feature=player_embedded
Mark Boyle has been living in the UK near Bath, without money since 2008 in a camper with solar panels he installed beforehand. His plan was to go one year, but he never stopped the experiment.

 Here he shows a reporter from the newspaper Guardian UK how he manages a whole life with no money being exchanged.

 He grows his own food, chops his own wood, built a rocket stove, uses old newspaper for toilet paper, has punctureless tires on his bicycle, makes his own soap and washes his clothes in the stream. He barters work occasionally for oats and other grains, and goes dumpster diving in town for additional food.

 He admits it was daunting in the beginning, but that he is so much more satisfied living according to his ideals.  (http://www.desismileys.com/smileys/desismileys_0293.gif)(http://www.freesmileys.org/emoticons/emoticon-object-062.gif)

 In a TED talk in 2011 he outlined why he chose to create a life without money. After studying economy, he saw clearly the connection between money and well, the disconnection.

"Ecological destruction, factory farms, destroying the oceans, sweat shops, deforestation - this all stems from our delusion that we are separate from nature. We are very disconnected from what we consume.

 (http://www.freesmileys.org/emoticons/emoticon-object-106.gif) We no longer have an appreciation for the embodied energy, embodied destruction and suffering that goes into every stage of the supply chain of the things we buy.   (http://www.pic4ever.com/images/301.gif)

The tool that enabled this disconnection is money.   (http://www.freesmileys.org/emoticons/tuzki-bunnys/tuzki-bunny-emoticon-028.gif)

If we all had to grow our own food, we wouldn't waste 1/3 of it as we do today in the UK.

If we had to make our own tables and chairs, we wouldn't chuck them out the moment we decided to change the decor.

Until we reconnect with what we consume, all these problems will continue because we're not getting to the root of the problem, which is our separation from nature, and our separation from what we consume."

 You can follow Mark Boyle's blog, Freeconomy here www.justfortheloveofit.org/blog where he has created a real forum for the new economy, based on barter, sharing and co-creating -- a whole new way of looking at exchange and community among people ready for a new society.

 --Bibi Farber

 This video was produced by the Guardian UK.
- See more at: http://www.nextworldtv.com/videos/new-economy/how-to-live-a-moneyless-life-like-.html#sthash.C8eGJauB.dpuf
Title: Re: Money
Post by: AGelbert on May 16, 2015, 03:28:11 pm
“There is only one party in the United States, the Property Party … and it has two right wings: Republican and Democrat.”
― Gore Vidal

That said, why vote?

In case you've missed it, I am VEHEMENTLY against BOYCOTTING the vote. Many say we need a new and better system, and agree that the D&R kabuki is a scam - all paid for by the same criminal cabal.... yet boycotters say "we don't have enough people" to make a difference. There's a self-fulfilling prophecy.

You should expand this into a Blog Article.

RE

I probably will. It's (at least) half written as a blog post.

Not nearly enough profanity, though...

(http://www.pic4ever.com/images/bc3.gif)

Voting legitimizes voting.
Not necessarily.... (http://www.desismileys.com/smileys/desismileys_2932.gif)

(http://images.sodahead.com/polls/002193991/122891225_disney_vote_mickey_mouse_tote_xlarge.jpeg)

Vote... Don't vote... I don't really care... TPTB don't either.... (http://www.desismileys.com/smileys/desismileys_2932.gif)

These are the only presidents they really care about: (http://www.desismileys.com/smileys/desismileys_2932.gif)

(http://s3.amazonaws.com/rapgenius/690px-USDnotes.png)

As long as you keep using them, THAT is the vote that really matters.

Not necessarily. In fact,  (http://1.bp.blogspot.com/-TzWpwHzCvCI/T_sBEnhCCpI/AAAAAAAAME8/IsLpuU8HYxc/s1600/nooo-way-smiley.gif)


JD,
I suggest that, in the service of logic and CFS, you casually mention that minor detail called the LEGAL TENDER LAWS when you castigate we-the-people for "supporting voting" by using fiat currency, given "value" by "virtue" of a gun pointed at our heads by TPTB.

And yeah, that APPLIES EQUALLY to the concept that voting has any value whatsoever. ANY argument presented by Surly (a person I have utmost respect for BECAUSE he is honest to the core, NOT because he is erudite - which he most certainly is), if not presented with the caveat that there IS A GUN pointed at our heads 24/7 protecting TPTB in any and all "democratic" activities we-the-people are "urged" to engage in., is NAIVE OR COMPLICIT.

IOW TDOS is RIGHT! No matter how you approach this voting OR fiat currency thing, the game is RIGGED. BUT the REASON the voting is rigged is not just to control the outcome of the vote. THAT is "TAKEN CARE OF" by limiting the choices on the ballot. it is NOT JUST THE RESULTS of voting that are rigged. THE MOST IMPORTANT RIGGING is PSYCHOLOGICAL MINDFU CK.  (http://www.coh2.org/images/Smileys/huhsign.gif)

The PERCEPTION of Democratic Elections is the sine qua non RIGGING required in an inverted totalitarian system of DICTATORSHIP.

WHY? FOR THE PURPOSE OF PROVIDING DOCUMENTED LEGITIMACY in the CORRUPT SYSTEM of TPTB. That is the mindful ck  tool then used to herd us into participating.

HOW? By propagandizing we-the-people with BLAME THE VICTIM castigation that that we are "Aiding" TPTB by not "participating" in voting.

AND THEREFORE, if we do not "vote" (good luck convincing TDOS or me that voting in a U.S. election is voting  8) ), we "deserve whatever corrupt leaders we are saddled with".

(http://www.createaforum.com/gallery/renewablerevolution/3-010215144153.png)

Surly, TPTB are evil and stupid in that their world view is ultimately suicidal; but they are clever. Perhaps I am wrong and you are right. But for you to convince me of that, you will have to make a case that invalidates my allegation that TPTB use propaganda with a threat of force (carrot and stick) as a more efficient ( see religion of TPTB =(http://www.pic4ever.com/images/d2.gif)  (http://www.envisionyourdreamsllc.com/Golden-Pig.jpg)) way to exploit the masses than in-your-face force with 24/7 propaganda that nobody believes (stick with a carrot that looks like a turd).

TPTB like to spend as little energy as possible in keeping us in line, so to speak. They KNOW that they are TOAST if they lose their legitimacy, no matter how much force they have available.

SO, they CONSTANTLY remind us of how WE are the ones that are toast if we rock the boat. The REALITY is, however, that ANY TIME THE PUBLIC WANTS TO, it can become Donald Duck "monitoring" TPTB as in the graphic below. Donald Duck did not do that by voting. 8)

(http://www.createaforum.com/gallery/renewablerevolution/3-260415155340.png)


PS added May 16, 2015:


I may have been fooled and Surly has been gaming people to push the baloney that voting has merit. A professional propagandist would certainly pose as a person who is honest to the core. We live and learn. Et Tu Brute. Surly?  ;)

Agelbert message to all clever propagandists posing as honest, responsible humans:
(http://www.createaforum.com/gallery/renewablerevolution/3-140415130805.png)

Title: Re: Money
Post by: AGelbert on May 27, 2015, 02:18:00 am
Sunday, 24 May 2015 02:30   
Bernie Sanders Exposes 18 CEOs who took Trillions in Bailouts, Evaded Taxes and Outsourced Jobs
 
Written by  Jason Easley | PoliticusUSA
 
Sen. Bernie Sanders fired back at 80 CEOs who wrote a letter lecturing America about deficit reduction by released a report detailing how 18 of these CEOs have wrecked the economy by evading taxes and outsourcing jobs.   80 CEO’s raised the ire of Sen. Sanders by publishing a letter in the Wall Street Journal urging America to act on the deficit, and reform Medicare and Medicaid.
 
Sen. Sanders responded to the lecture from America’s CEO’s by releasing a report that detailed how 18 of them have helped blow up the deficit and wreck the economy by outsourcing jobs and evading US taxes.

Sanders said,

There really is no shame. The Wall Street leaders whose recklessness and illegal behavior caused this terrible recession are now lecturing the American people on the need for courage to deal with the nation’s finances and deficit crisis. Before telling us why we should cut Social Security, Medicare and other vitally important programs, these CEOs might want to take a hard look at their responsibility for causing the deficit and this terrible recession.

Our Wall Street friends might also want to show some courage of their own by suggesting that the wealthiest people in this country, like them, start paying their fair share of taxes. They might work to end the outrageous corporate loopholes, tax havens and outsourcing provisions that their lobbyists have littered throughout the tax code – contributing greatly to our deficit.

Many of the CEO’s who signed the deficit-reduction letter run corporations that evaded at least $34.5 billion in taxes by setting up more than 600 subsidiaries in the Cayman Islands and other offshore tax havens since 2008. As a result, at least a dozen of the companies avoided paying any federal income taxes in recent years, and even received more than $6.4 billion in tax refunds from the IRS since 2008.

Several of the companies received a total taxpayer bailout of more than $2.5 trillion from the Federal Reserve and the Treasury Department.

Many of the companies also have outsourced hundreds of thousands of American jobs to China and other low wage countries, forcing their workers to receive unemployment insurance and other federal benefits. In other words, these are some of the same people who have significantly caused the deficit to explode over the last four years.

Here are the 18 CEO’s Sanders labeled job destroyers in his report. (All data from Top Corporate Dodgers report.)

1). 1. Bank of America CEO Brian Moynihan

Amount of federal income taxes paid in 2010? Zero. $1.9 billion tax refund.
Taxpayer Bailout from the Federal Reserve and the Treasury Department? Over $1.3 trillion.

Amount of federal income taxes Bank of America would have owed if offshore tax havens were eliminated? $2.6 billion.
 
2). Goldman Sachs CEO Lloyd Blankfein
Amount of federal income taxes paid in 2008? Zero. $278 million tax refund.
Taxpayer Bailout from the Federal Reserve and the Treasury Department? $824 billion.
Amount of federal income taxes Goldman Sachs would have owed if offshore tax havens were eliminated? $2.7 billion
 
3). JP Morgan Chase CEO James Dimon
Taxpayer Bailout from the Federal Reserve and the Treasury Department? $416 billion.
Amount of federal income taxes JP Morgan Chase would have owed if offshore tax havens were eliminated? $4.9 billion.
 
4). General Electric CEO Jeffrey Immelt
Amount of federal income taxes paid in 2010? Zero. $3.3 billion tax refund.
Taxpayer Bailout from the Federal Reserve? $16 billion.
Jobs Shipped Overseas? At least 25,000 since 2001.

5). Verizon CEO Lowell McAdam
Amount of federal income taxes paid in 2010? Zero. $705 million tax refund.
American Jobs Cut in 2010? In 2010, Verizon announced 13,000 job cuts, the third highest corporate layoff total that year.
 
6). Boeing CEO James McNerney, Jr.
Amount of federal income taxes paid in 2010? None. $124 million tax refund.
American Jobs Shipped overseas? Over 57,000.
Amount of Corporate Welfare? At least $58 billion.

7). Microsoft CEO Steve Ballmer
Amount of federal income taxes Microsoft would have owed if offshore tax havens were eliminated? $19.4 billion.

8 ). Honeywell International CEO David Cote
Amount of federal income taxes paid from 2008-2010? Zero. $34 million tax refund.
 
9). Corning CEO Wendell Weeks
Amount of federal income taxes paid from 2008-2010? Zero. $4 million tax refund.

10). Time Warner CEO Glenn Britt
Amount of federal income taxes paid in 2008? Zero. $74 million tax refund.
 
11). Merck CEO Kenneth Frazier
Amount of federal income taxes paid in 2009? Zero. $55 million tax refund.

12). Deere & Company CEO Samuel Allen
Amount of federal income taxes paid in 2009? Zero. $1 million tax refund.

13). Marsh & McLennan Companies CEO Brian Duperreault
Amount of federal income taxes paid in 2010? Zero. $90 million refund.

14). Qualcomm CEO Paul Jacobs
Amount of federal income taxes Qualcomm would have owed if offshore tax havens were eliminated? $4.7 billion.

15). Tenneco CEO Gregg Sherill
Amount of federal income taxes Tenneco would have owed if offshore tax havens were eliminated? $269 million.

16). Express Scripts CEO George Paz
Amount of federal income taxes Express Scripts would have owed if offshore tax havens were eliminated? $20 million.
 
17). Caesars Entertainment CEO Gary Loveman
Amount of federal income taxes Caesars Entertainment would have owed if offshore tax havens were eliminated? $9 million.

18). R.R. Donnelly & Sons CEO Thomas Quinlan III
Amount of federal income taxes paid in 2008? Zero. $49 million tax refund.

Eighteen of the 80 CEOs who signed the call for deficit action are actually some of the biggest outsourcers and tax cheats in America. First, they crashed the economy in 2008. They followed that up by taking billions in taxpayer bailout dollars. Their next step was to outsource jobs and evade taxes. Now they are calling for action on a deficit that they helped create over the past four years.

Bernie Sanders is exposing the hypocrisy of these CEOs, and every American should understand that if Mitt Romney is elected president, these pigs see potential for unlimited feeding from the taxpayer trough. Only by standing together can we tell these CEOs that the bill has come due, and it is time for them to pay.

We can tell these gluttons of our dollars that the all you can eat taxpayer buffet is now closed.

 

Original article on PoliticusUSA
http://pdafund.com/component/k2/item/65-bernie-sanders-exposes-18-ceos-who-took-trillions-in-bailouts-evaded-taxes-and-outsourced-jobs
Title: Re: Money
Post by: AGelbert on May 30, 2015, 12:23:55 am
https://www.youtube.com/watch?v=sRTgRQbGeQE&feature=player_embedded
The Mega Crash is coming soon.  :P

Watch all four videos in sequence. Learn how the Neocon CRIMINALS want to forgive Ukraine's debt but refuse to do the same for Greece. Learn how Germany, the main country that does NOT want to forgive Greece's debt or take a haircut, had ITS DEBT hugely reduced in 1953 AFTER they had destroyed and tortured most of Europe during Hitler's horrors. Talk about hypocrisy!  :(
Title: Re: Money
Post by: AGelbert on June 14, 2015, 05:38:31 pm
Jamie Dimon displays his EMPATHY DEFICT DISORDER (http://www.pic4ever.com/images/acigar.gif)

Quote
This week, Jamie Dimon, CEO of mega-bank JPMorgan Chase, told a Chicago audience that he doesn’t know if Senator Elizabeth Warren “fully understands the global banking system.”

Elizabeth Warren is having none of it. Friday she fired back, telling the Huffington Post, "The problem is not that I don’t understand the global banking system. The problem for these guys is that I fully understand the system and I understand how they make their money. And that’s what they don’t like about me."

Donate $3 or more today and your donation will be matched 2-to-1 by a generous donor who shares Elizabeth Warren's values.

Jamie Dimon was a key player in the 2008 financial crisis that killed millions of jobs, destroyed the savings of millions of American families, and plunged the global economy into chaos.

Meanwhile, Elizabeth Warren has studied the global banking system for more than 20 years, sits on the Senate Banking Committee, taught about banking at Harvard University and -- oh yeah! -- oversaw the bailout of Jamie Dimon's bank.

Donate $3 or more today and your donation will be matched 2-to-1.

This isn't the first encounter between Dimon and Senator Warren. In her book A Fighting Chance, Warren writes about a tense 2013 meeting with the JPMorgan Chase CEO:

When the conversation turned to financial regulation and Dimon began complaining about all the burdensome rules his bank had to follow, I finally interrupted. I was polite, but definite… [I told him] “I think you guys are breaking the law.”

Suddenly Dimon got quiet. He leaned back and slowly smiled. “So hit me with a fine. We can afford it.”

Well, guess what? In November 2013, Dimon's bank paid a $13 billion settlement for funding bad mortgages. Then last month, JPMorgan Chase was one of five banks to pay a $5.7 billion fine for global currency manipulation. In fact, in one quarter of 2013, Dimon’s bank spent more on legal fees than it did on paying its entire staff.

http://boldprogressives.org/
Title: Re: Money
Post by: AGelbert on June 21, 2015, 09:37:27 pm
I think Paul Craig Roberts, former Assistant Secretary of the Treasury for Ronald Reagan, has the situation in Greece analyzed correctly:

SNIPPET:

Quote
The alleged “Greek crisis” makes no sense whatsoever. It is obvious that Greece cannot with its devastated economy repay the debts that Goldman Sachs hid and then capitalized on the inside information, helping to cause the crisis. If the solvency of the holders of the Greek debt, apparently the NY hedge funds and German and Dutch banks, depends on being repaid, the European Central Bank could just follow the example of the Federal Reserve and print the money to secure the Greek debt. The ECB is already printing 60 billion euros a month to save the European financial system, so why not include Greece?

A conservative might say that such a course of action would cause inflation, but it hasn’t. The Fed has been creating money hands over fists for seven years, and according to the government there is no inflation. We even have negative interest rates attesting to the absence of inflation. Why will creating money for Greece create inflation but not for Goldman Sachs, Citibank, and JPMorganChase?

Obviously, the Western world doesn’t want to help Greece. The West wants to loot Greece. The deal is that Greece gets new loans with which to repay existing loans in exchange for selling municipal water companies to private investors (water rates will go up on the Greek people), for selling the state lottery to private investors (Greek government revenues drop, thus making debt repayment more difficult), and for other such “privatizations” such as selling the protected Greek islands to real estate developers.

This is a good deal for everyone but Greece.


If the Greek government had any sense, it would simply default. That would make Greece debt free. With just a few words, Greece can go from a heavily indebted country to a debt-free country.

Greece could then finance its own bond issues, and if it needed external credit, Greece could accept the Russian offer.

Indeed, if the Russian and Chinese governments had any sense, they would pay Greece to default and to leave the EU and NATO. The unravelling of Washington’s empire would begin, and the threat of war that Russia and China face would go away. The Russians and Chinese would save far more on unnecessary war preparation that saving Greece would cost them.

Starvation Is The Price Greeks Will Pay For Remaining In The EU (http://www.paulcraigroberts.org/2015/06/15/starvation-price-greeks-will-pay-remaining-eu-paul-craig-roberts/)
Title: Re: Money
Post by: AGelbert on July 02, 2015, 02:55:21 pm
Quote
Some mutual funds have exposure to Puerto Rico bonds
(http://www.createaforum.com/gallery/renewablerevolution/3-020715144740.png)

http://www.schwab.com/public/schwab/nn/articles/Puerto-Rico-Bonds-How-a-Default-Might-Affect-the-Municipal-Bond-Market (http://www.schwab.com/public/schwab/nn/articles/Puerto-Rico-Bonds-How-a-Default-Might-Affect-the-Municipal-Bond-Market)
Title: Re: Money
Post by: AGelbert on July 02, 2015, 06:24:45 pm
Quote
And for the record, I am agnostic about gold, as befits a peasant. I don't have any money, but some gold would be good to have. As would beans, rice, potatoes, and weapons. Plus a storage locker full of pint bottles of whiskey to use as trade goods when TSHTF, but we've all heard all this before...

 :laugh: :laugh:

Look to put some Silver on you list Surly.

Poor man's gold is currently 75 % off its recent high of 50, a bargain in my view. Gold's friendly less noble cousin metal is a great alternative which offers protection from Fiat going berserk and you get some real bang for a buck with the silver gold ratio currently around all time highs about 80 to 1.

I hear you.

I had thought about it when silver was going up a while back, then talked myself out of buying into the teeth of a spike.
If you have any disposable cash, it couldn't hurt to have some silver. AG has also written about its medicinal properties as well, so eddie's point about it being valuable as a commodity via severqal demand vectors is a good one. IMO.

I learned a fascinating tidbit about a metal that was once considered more precious than Silver, Gold, or even Platinum! (http://www.coh2.org/images/Smileys/huhsign.gif)

That metal is Aluminum.

The obelisk in DC has an Aluminum cap because there was no metal more precious in those days.

It was a high energy process, needed to produce pure aluminum, despite the fact that about 7% of the crust has it (unlike Silver, Gold and Platinum that are really rare in comparison), that made Aluminum super cheap in the 20th century.

Can that happen to the precious metals too? If MKing and his pals have their way, certainly.

It is a scientific fact that if you can get out of our planetary gravity well cheaply, you can get an unlimited supply of ANY metal from precious metals to rare earths (they ain't rare out there) and ANY hydrocarbon (see Titan) as well.

Outer space energy expenditure needed to move something from here to several million miles over there, once you are out of our gravity well, is akin to a slight push on a boat in New York harbor sending a giant ship to China (distance multiplied by several million times) with no added energy except the slight push to stop it when it gets there. Friction is, in comparison to travel here on Earth, not a factor.

Another upside from getting our Gold and Silver from outer space is that mining asteroids has zero environmental impact, low energy expenditure because your mining and processing factory is at zero or low G and, thanks to robotics and computers, can be operated remotely (low personnel costs). A corporation has already been established to do exactly that.

Of course nobody needs to run out and sell their precious metals now. But, if there is a future, you can be certain that said precious metals will eventually be plentiful = cheap.

Considering the health applications that precious metals have, I would welcome that. Considering the electronics applications that precious metals have, that means faster and cooler running computers. Considering the fact that Silver is better than Copper for the transmission of electricity, I don't need to say why I would welcome silver wiring.   (http://www.createaforum.com/gallery/renewablerevolution/3-200714191258.bmp)


Aluminum: Common Metal, Uncommon Past


In the mid-1800s aluminum was more valuable than gold.  :o

Napoléon III's most important guests were given aluminum cutlery
, while those less worthy dined with mere silver; fashionable and wealthy women wore jewelry crafted of aluminum.

Today aluminum is a critical component of modern life, found in airplanes, automobiles, soft drink cans, construction materials, cooking equipment, guardrails, and countless other products. The difference between scarcity and abundance (and between obscurity and ubiquity) of this metal depended solely on scientists' ability to find the way to release it—the third most common element in the earth's crust by weight—from its ore.

The most familiar story of the first extraction of aluminum is that the youthful Ohioan Charles Martin Hall developed aluminum's electrolytic extraction process in his family's woodshed in 1886, patented the invention, helped found the company that would later become Alcoa, and died a rich man. (http://2.bp.blogspot.com/_9HT4xZyDmh4/TOHhxzA0wLI/AAAAAAAAEUk/oeHDS2cfxWQ/s200/Smiley_Angel_Wings_Halo.jpg)

A more complicated version  ;)
reveals that Paul Héroult developed a similar process in France at the same time. In reality both Héroult and Hall were participants in a much larger program of aluminum research that started in the 1850s and lasted until 1903, when the last major patent dispute was settled.

By then Alcoa was the undisputed world leader in aluminum production, and Hall himself was a multimillionaire. But neither Hall nor Héroult operated in a vacuum—their nearly simultaneous discovery of a process for aluminum extraction built on several decades' worth of electrochemistry and, indeed, centuries' worth of knowledge on the nature of metals.

Early History

While aluminum metal is a recent discovery, its compounds were fairly common in various industries throughout history. Alum (aluminum potassium sulfate, KAl(SO4)2 ), was best known as a dye fixer (or mordant) first developed in Egypt over 5,000 years ago, and clays containing aluminum silicates appear to have been favored by contemporary Persian potters for their strength.

Anhydrous aluminum sulfate (Al2(SO4)3) was used by the ancient Greeks as an astringent to stanch wounds—a use that continues to this day in styptic pencils.


Electrolysis, a process central to the modern history of aluminum, has its roots in the early 19th century. In 1800 the Italian Alessandro Volta invented the "pile" battery, which provided the source of stored power that pioneering Englishmen William Nicholson and Anthony Carlisle used to break a compound (water) into its constitutive elements through a process known as electrolysis. Generally defined, the process involves applying live electrodes to a liquid containing the compound to be electrolyzed. The negative electrode in electrolysis, the cathode, naturally attracts positive ions, which take on electrons; the positive electrode, the anode, attracts negatively charged ions. When water is subjected to electrolysis, hydrogen gas is produced at the cathode and oxygen is released at the anode.

The remarkable Cornish chemist Humphry Davy also started experiments in electrolysis in 1800. He struggled to isolate metals by putting a current through solutions of their alkali salts, which did nothing more than free hydrogen. But he met with much better results when he started to electrolyze molten compounds, first isolating potassium from potash and sodium from table salt in 1807.

The following year Davy used electrolysis to produce elemental calcium, strontium, barium, and magnesium before capping off his remarkable string of success with the identification and naming of aluminum.


He did not actually isolate aluminum; rather, as Norman C. Craig, professor emeritus of chemistry at Oberlin College, explains, "Davy had learned enough about compounds of other metals to conclude from the composition of aluminum compounds that they contained a new metal, aluminum." He first called the metal alumium, although it has evolved to aluminium in most English-speaking countries, and to aluminum in the United States.

One of early chemistry's true geniuses, Davy was knighted and received a baronetcy in 1812 and became president of the Royal Society in 1820. (The society has awarded an annual "Davy Medal" in his honor since 1877.) Nevertheless, his repeated attempts to isolate aluminum metal met with no success before his death in 1829.

Read more here: (http://www.createaforum.com/gallery/renewablerevolution/3-060914180936.jpeg)

http://www.chemheritage.org/discover/media/magazine/articles/25-4-aluminum-common-metal-uncommon-past.aspx (http://www.chemheritage.org/discover/media/magazine/articles/25-4-aluminum-common-metal-uncommon-past.aspx)
Title: Re: Money - The Greek Crisis explained by Hudson and Black
Post by: AGelbert on July 05, 2015, 08:32:38 pm
I find it curious that all present luminaries ignore the facts as Hudson and Black have clearly stated them.

1) Greece does not need a "bail out" because ALL of the debt was fabricated.

2) A default and a Drachma is the best course of action for Greek sovereignty.

3) ANY investor in any country, from the Eurozone to China or Russia, can then buy low risk bonds emitted by Greece in Drachmas BECAUSE Greece will have a LOW to NO debt at the time. NO BAILOUT IS REQUIRED.

4) There is ZERO reason for Greece to lower pensions or other austerity measures. The BASKET CASE is the Troika monetary system, NOT GREECE.

As Hudson and Black have pointed out, the bigoted and defamatory propaganda the media has pushed that the Greeks "brought this on themselves" is inaccurate, to put it mildly. I posted the video earlier. It looks like nobody watched it here.  :(

Quote
"Facts do not cease to exist because they are ignored." -- Aldous Huxley

All debt is fabricated the same way. all fiat is fabricated we still use it and owe it if we sign for it.

I dont believe we ignored discussion of drachma. RE has said repeatedly he thinks it would be instantly worthless due to hyperinflation,  u can make your case why hes wrong to him. I hope this result translates to using their own currency and localised self sufficiency instead of more can kicking.

Take the story of the villagers with their gardens and goats. Abd their 40 euro taxi rides ti go get their pension 18km awsyawsaway. Nice new german mercedes taxis... they used to ride scooters and


NO UB, ALL debt is NOT fabricated the same way. RE has said a lot of the right things but he STILL claims that TSHTF if the people vote no. I disagree. But the IMPORTANT THING is that Hudson and Black ALSO disagree. The TROIKA is the BASKET CASE, not the Greeks!

Michael Hudson is a Distinguished Research Professor of Economics at the University of Missouri, Kansas City. He is the author of The Bubble and Beyond and Finance Capitalism and its Discontents. His most recent book is titled Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy.

William K. Black, author of The Best Way to Rob a Bank is to Own One, teaches economics and law at the University of Missouri Kansas City (UMKC). He was the Executive Director of the Institute for Fraud Prevention from 2005-2007. He has taught previously at the LBJ School of Public Affairs at the University of Texas at Austin and at Santa Clara University, where he was also the distinguished scholar in residence for insurance law and a visiting scholar at the Markkula Center for Applied Ethics
.

Black was litigation director of the Federal Home Loan Bank Board, deputy director of the FSLIC, SVP and general counsel of the Federal Home Loan Bank of San Francisco, and senior deputy chief counsel, Office of Thrift Supervision. He was deputy director of the National Commission on Financial Institution Reform, Recovery and Enforcement.

Black developed the concept of “control fraud” frauds in which the CEO or head of state uses the entity as a “weapon.” Control frauds cause greater financial losses than all other forms of property crime combined. He recently helped the World Bank develop anti-corruption initiatives and served as an expert for OFHEO in its enforcement action against Fannie Mae’s former senior management.


Transcript
US Hedge Funds Get Bailed Out If Greeks Pass Bailout Referendum (1/2)

Part 1


JESSICA DESVARIEUX, PRODUCER, TRNN: Welcome to The Real News Network. I’m Jessica Desvarieux in Baltimore.

If you’re in Greece this week, good luck trying to go to the bank. Greek banks are closed all week after news broke that the country will be holding a referendum vote on whether to accept the bailout measures offered by international creditors. But if the Greek population decides to vote yes for the bailout deal, does this mean that they will be handing creditor banks a bailout?

Now joining us to give us their take on the issue are our two guests. Joining us from Quito, Ecuador, is Bill Black. Bill is an associate professor of economics and law at the University of Missouri Kansas City. He’s a white collar criminologist and a former financial regulator, and author of the book The Best Way To Rob A Bank is to Own One. And also joining us from Germany is Michael Hudson. Michael is distinguished research professor of economics at the University of Missouri, Kansas City. His latest book is Killing the Host: How Financial Parasites and Debt Bondage Destroyed the Global Economy.

Thank you both for joining us.

MICHAEL HUDSON, PROF. OF ECONOMICS, UMKC: Good to be here.

WILLIAM K. BLACK, PROF. OF ECONOMICS, UMKC: Thank you.

DESVARIEUX: So Bill, I’m going to start off with you. Can you just explain to our viewers who’s actually getting bailed out in this deal. Are creditor banks the ones benefiting at the end of the day?

BLACK: Well, the same people are getting bailed out that have been getting bailed out from the beginning of the Greek crisis, and that is foreign banks. So this money just moves in sort of an elaborate circle from the Troika, which is the European Commission, the European Central Bank, and the IMF, through the Greek government, through the Greek banks, and then they pay the foreign creditors. And they pay them just enough that they don’t have to recognize a loss for accounting purposes.

As Michael will explain, of late the big investors tend to be American hedge funds, as opposed to what used to be primarily French banks.

DESVARIEUX: Okay. Michael, I want to ask you about the role of French banks in all of this. Can you just speak to this, give us a sense of how they even got entangled in Greek debt.

HUDSON: Well, today’s problem with the debts really stem back from 2010 and 2011 when Greece obviously couldn’t pay. When Greece joined the Eurozone, it falsified its debt figures. The head of its central bank worked with Goldman Sachs to make it complicated derivatives to hide it all, and that was Lucas Papademos.

Well, in 2010 right after the PASOK party came to power in Greece, they revealed the fact that their figures had been fudged all along, and that the debt was so large that Greece couldn’t pay. So the International Monetary Fund, which hadn’t been making loan–almost had no customers in the world, had its European staff calculate. And the staff unanimously said, Greece can’t pay these debts. These are fraudulent debts that are all, that are way beyond the ability to pay. They’ve got to be written down. And the board of directors agreed.

But Dominique Strauss-Kahn, who was the head of the IMF when he wasn’t going to the sex parties, wanted to run for president of France. And he talked to Sarkozy, and Sarkozy said, wait a minute, French banks are the largest holders of Greek debt. If Greece doesn’t pay and writes them down, the French banks will go under. And German banks are the second. But then at the G8 meetings in 2011, President Obama went over along with Tim Geithner and said, our big campaign contributors are on Wall Street, and they’ve made huge bets that Greece can pay. If Greece doesn’t pay, then all these gamblers and derivative players are going to lose their bets. You’ve got to sacrifice Greece and you’ve got to drive it into poverty, and lend the Greek government the money to pay the bond holders so that our Wall Street banks won’t lose money.

So the European Central Bank told the IMF if you want to be a player, you’ve got to ignore what the stats said, and they did. And the European Central Bank and the IMF paid over 100 billion Euros to the bond holders. So Greece, instead of owing private bond holders, owed the IMF and the European Central Bank.
 Now the European Central Bank wants to get paid, but the debts can’t be paid. So the central bank says, okay Greece. Sell us your islands. Sell us your ports. Sell us your lands. Sell us your raw materials. This is foreclosure time. And if you can’t pay, we want everything in the public domain. And you also have to impose austerity. You have–only 20 percent of your population has emigrated. You only have a 60 percent unemployment rate for youth. You’ve got to increase the unemployment rate to 80 percent, double the emigration, in order for us to make the loans to your government that will turn right around and pay us. [Crosstalk].

DESVARIEUX: But Michael, there really could be real consequences. You mentioned obviously financial markets. There’s some real consequences for them. But what about everyday people? I’m thinking of those folks who might have their money in banks, in the banking system. And if this bank is insolvent, what would happen to them?

HUDSON: There need not have been any consequences for the people at all of Greece not paying the IMF and not paying the European Central Bank, because this money was all paper money created to begin with. It’s just a book loss.

 But the Europeans said something else, that although we don’t need the money, we will bankrupt you and we will cause a bank crisis if you don’t comply with what we want. So it’s either austerity or we will smash and grab, take your pick.

DESVARIEUX: Bill, I’m going to ask you the same question. What do you do if you’re a person who’s going to be facing that referendum vote? Do you vote no for this bill, or do you say yes and hope for the best?

BLACK: Well, I would definitely vote against the bankers. What is–the other thing is, Michael is correct, but on top of that the Troika said it’s not enough that 60 percent of your pensioners are in poverty. We want to push it so 70 or 80 percent of your pensioners are below the poverty level as well. And privatization, this is what made, depending on the poll, Carlos Slim the richest or the second-richest person in the world. They’re sold on sweetheart terms to cronies, and this is crony capitalism, basically. People are familiar with Indonesia under Suharto. It’s very similar.

What do you do is, as Michael said, the normal thing that has been done in the past is to write down the debts when they can’t be paid. That is done all the time routinely in the commercial world, and it was done with Latin America back in the debt crisis in the ’70s and ’80s, with what became known as the Brady Plan. So you can’t keep a country, or at least there’s no economically rational basis for doing so, and of course it’s completely inhumane, to keep a country in a condition where it constantly will be in ever greater debt. And that’s precisely what the Troika wants to do.

And as Michael has said, German politicians have openly demanded that Greece begin selling islands. In other words, selling the nation. Just a complete destruction of sovereignty.

DESVARIEUX: All right. Bill Black and Michael Hudson, we’re going to pause the conversation here. In part two we’ll talk more about specifics related to alternatives to this deal. So thank you both for joining us.

BLACK: Thank you.

HUDSON: Good to be here.

DESVARIEUX: And thank you for joining us on The Real News Network.

Part 2

JESSICA DESVARIEUX, PRODUCER, TRNN: Welcome back to The Real News. I’m Jessica Desvarieux in Baltimore.

I’m joined now by Bill Black, as well as Michael Hudson. Bill Black is in Quito, Ecuador, and Michael.

DESVARIEUX: All right. Let’s pick up where we left off. We were talking about alternatives to the deal that’s being presented to the Greek people in this referendum vote. Michael, lay out some specifics. What are some alternatives that would be in the interest of everyday Greek people?

HUDSON: Well, what Bill was describing in the first half is really finance as war. What they want is the same thing that warfare wants. They want the land, and they want a tribute in the form of interest. Basically, the Eurozone went to Greece and said, look, we’re going to–just in case Spain’s Podemos party or other countries want to not pay their debts, we’re going to use you as an example and we’re going to wreck you.

And it’s begun to backfire this week, because what they show is that remaining in the Eurozone itself is pretty hopeless, financially. And the leaders of the Syriza party have said, look, we’re not only fighting for Greece, we’re fighting for all of Europe. And what we want to do is save Europe from austerity. And we want to save Europe by having a real central bank whose role is to create money, to spend money into the economy. We want a central bank that doesn’t give money to banks. We want a central bank that pays for government spending and rebuilding the Greek economy. And we need to be out of the Eurozone in order to do that.

DESVARIEUX: Wouldn’t they also have to reform their tax system, or enforcement, at least, of that tax system?

HUDSON: Yes. I mean, they’re talking about what–a lot of debts are going to be canceled. Not only to the European banks, but we’re talking about a domestic debt holiday very much like Germany’s economic miracle, in 1948 the Allied monetary reform, where they canceled all the internal German debts except for the debts that employers used for wages. We’re talking about a huge debt write off. But you don’t want to make real estate owners suddenly owning their property free and clear. So we need a tax system that not only is going to stop the tax evasion by the oligarchs who have used the banks to avoid it.

We’re going to take away the tax deductibility of interest payments, so that they can’t pretend to expense all their profits and interest, and we’re also going to have a rent tax. For what we’ve privatized already, we’re going to tax the economic rent to recover for the country what these owners didn’t create, like the phone systems that Carlos Slim made in Mexico that Bill mentioned before. We’re going to collect the economic rent fully in a tax system. So financial reform is going to go hand-in-hand with tax reform, and that’s what terrifies the Europeans. Because they say, wait a minute, all of the money that you call profits is actually rent extraction. It’s all exploitation. You can’t stop exploitation, that’s what our financial system is all about.

DESVARIEUX: But Bill, I could imagine people who are in the elite are going to say, hold on a minute. You want to raise taxes, you want to create new taxes. I’m going to leave. I’m going to another country and setting up shop. What do you make of that argument?

BLACK: Well first, all their money already left. They’ve been evading taxes for years, so them leaving will have next to no effect.

But yes, I mean, forget them. What the Troika has done throughout huge expanses of Europe, roughly nations with half the population of Europe, their leading export these days is their college graduates. As soon as you get your degree, you leave. And that isn’t just the southern periphery, the so-called Mediterranean. That’s also the Baltic states as well.

There’s an incredibly insipid article in the New York Times at the time that we are taping this interview about Bulgaria that says, Bulgarians have no sympathy for the Greeks. Well, and then it turns out this is a hard-right government that has welcomed austerity and produced the usual problems. And of course, their government would fail within 24 hours, as would the Spanish government, if they ever admitted that Austerity was economically illiterate. The equivalent of bleeding a patient to make them better.

So all of these nations and the Troika is locked into this position that they can never admit the truth.

DESVARIEUX: All right. Michael, I know you’re going to be headed to Brussels, you’re giving a speech to the Euro parliament on Thursday on the Greek situation and the IMF. Can you just quickly lay out for us, what are you going to be advocating for?

HUDSON: Well first of all, for treating the debt claims of the IMF and the European Central Bank as odious debts. This means they shouldn’t have been put in place to begin with, and the debts, the money that was lent to Greece, except it went right through Greece to pay the French banks and the German banks, and to enable the American Wall Street banks to make a killing.
 The Wall Street banks made whole reputations of buying bonds at 30 cents on the dollar and suddenly they went up to 100 cents on the dollar. The market basically said Greece couldn’t pay in 2010. The market priced its bonds very low. Right now Greek bonds are yielding 33 percent. So the market says Greece can’t pay.

And so when Europe is saying, we want to impose a market economy, everything the European Central Bank and IMF is doing is against the market. They’re not recognizing what any real market analyst realizes, that the debts can’t be paid. We want to create a real market economy by getting rid of the [rentiers?] [incompr.], by getting rid of the exploitation, by writing off the bad debts, by reforming the tax system.

And in–a few years ago Christine Lagarde provided a list to Greece of Greek tax evaders that had 50 billion Euros in Switzerland. This 50 billion Euros is enough to pay–was enough to pay all of Greece’s debts. And the technocratic leader that the financial interests installed, Lucas Papademos, the very man who falsified all of the Greek payments and debt statements in 2001, didn’t do anything at all with the list. He refused to move against the oligarchs.

So what you have is, is really a combination of treason and criminal behavior. Now that there is a crisis in Greece this enables Syriza to get the support of the people to throw the bad guys in jail. I’d like to say to throw the lawbreakers in jail, but they don’t have any laws against that kind of crime taking place. So they have to draw up a whole new set of laws to make Greece a fair economy instead of the unfair economy that the IMF and the European Central Banks have turned it into.

DESVARIEUX: And it’s now being reported by the Associated Press that Greece’s credit rating has been pretty much cut in half, and it’s now a junk, junk credit rating.

I just want to thank you both, gentlemen, for joining us, and we’re going to continue to cover this story here on The Real News. You guys always have such interesting perspectives to bring to this program. Thank you both for being with us.

BLACK: Thank you.

DESVARIEUX: And thank you for joining us on The Real News Network.

http://michael-hudson.com/2015/06/greece-on-behalf-of-europe/ (http://michael-hudson.com/2015/06/greece-on-behalf-of-europe/)
Title: Re: Money
Post by: AGelbert on July 05, 2015, 11:55:21 pm
(http://www.createaforum.com/gallery/renewablerevolution/3-050715234711.jpeg)
(http://www.freesmileys.org/smileys/smiley-forum/popcorn.gif)

Title: The Empire Fights BACK! - the usual Orwellian 'Erudition' to justify CRUELTY
Post by: AGelbert on July 06, 2015, 06:03:55 pm
Agelbert NOTE: Come one, come all worshippers of Predatory Capitalism! Listen to the amazing glorification of situational ethics as a justification for avoiding any responsibility by the TROIKA goons for creating this situation in the first place. Notice the claim that the Greeks "cheated" the 'honorable and ethical' rules of the Troika. That is world class Orwellian discourse! Observe how this totally false premise is THEN used to justify (with historical references and rallying cry quotes, no less (http://2.bp.blogspot.com/_9HT4xZyDmh4/TOHhxzA0wLI/AAAAAAAAEUk/oeHDS2cfxWQ/s200/Smiley_Angel_Wings_Halo.jpg))  DOING what the TROIKA has ALWAYS DONE (asset stripping under the guise of prudent, measured, and so on, "economics".). (http://www.freesmileys.org/smileys/smiley-devil19.gif)

The bottom line is that David Marsh    (http://www.createaforum.com/gallery/renewablerevolution/3-200714191329.bmp)is just one more Empathy Deficit Disordered Nurse Ratched doing his evil part to justify the lack of conscience, integrity, honesty, responsibility, along with the mens rea asset stripping grand larceny practiced by those he represents.  (http://www.createaforum.com/gallery/renewablerevolution/3-200714183337.bmp)

This article is a repetition of many, many clever propaganda pieces in the sad historical record of our "civilization" used to convince people that ethical behavior is not applicable to an apex predator. Unfortunately, most Homo SAPS have been swayed by this biosphere math challenged, short sighted and suicidal argument. So it goes.  :(


Opinion: After Greece’s ‘no’ vote, let the punishment begin    (http://www.createaforum.com/gallery/renewablerevolution/3-200714191329.bmp)


By David Marsh

Published: July 6, 2015 8:06 a.m. ET

Greece faces infighting and pain, and Europe must confront contagion

The warring over Greece’s future has been a debtor versus creditor battle. So far, the Greeks seem to be winning.

In achieving a decisive “no” vote in Sunday’s referendum, Alexis Tsipras, the Greek prime minister, has implemented the credo attributed to his forebear Philip of Macedon, father of Alexander the Great: divide et impera. (Divide and rule.)

The failure of the creditor countries, led by Germany and the Netherlands, to recognize a central maxim of guerrilla fighting — the enemy will always surprise — provides a key reason for the oxi (no) win. If you’re outnumbered, practice the unorthodox. Tearing up the rules of Brussels conduct, Tspiras and Yanis Varoufakis, his finance minister-cum-field-marshal, have outmaneuvered and divided the surplus states by constantly re-engaging, over five months, from unexpected, demanding and outrageous battle positions.

 The fruits of victory will turn sour. Creditors and debtors alike will be punished. Greece faces a wrenching period of infighting and pain, during which devaluation-stamped bank notes, rationing of high-street goods and exchange controls enforced by armed police will be only the least of the ills.

The euro states must confront contagion and schism in their ranks, both political and economic.

The Syriza partisans arrived in power in January on the horns of an impossible trilemma. They wanted simultaneously to end austerity, gain debt relief and remain in the euro. The chances are that Greece will say goodbye to the single currency. They lack the means to stay. If they are forced out, the Athenians will go neither quietly nor with good grace. They will threaten to bring the edifice crashing down around them.

Also read: Greece’s ‘no’ vote is really no vote at all

For the moment, the “no” vote gives the Greek government authority and momentum to fight the next stage. Adding to Tsipras’ temporary sense of triumph, the creditor states themselves administered the coup de grace.

All along, the Greeks have mercilessly exposed fault lines in the creditor ranks. The International Monetary Fund official who haplessly briefed journalists on July 2 that Greece (as the Athens government and many other observers had been saying all along) needed massive debt relief — and, by the way, would the Europeans kindly foot the bill? — handed Tsipras and Varoufakis a propaganda coup. The IMF guillotined itself. Christine Lagarde, its hyperactive managing director, should have stayed in Washington masterminding operations rather than uselessly and visibly trail-blazing around Europe.

Another Syriza helper turned out to be Wolfgang Schäuble, the German finance minister, who, I have always suspected, is far too intelligent and worldly wise to be taken in by his own rhetoric. He conceded on the eve of the referendum that, whatever happened, the rest of Europe would have to continue Greek financing, thus removing the fear of creditor cruelty that would have been the main motivation for a “yes.”

Schäuble’s admission was a mark of humanity and honesty. Clausewitzian it was not.

No doubt Tsipras and Varoufakis will spring more surprises. Euro negotiators will have cause to remember what Mario Draghi, European Central Bank president, said in Helsinki on Nov. 27: “[Euro] members have to be better off inside than they would be outside. … If there are parts of the euro area that are worse off inside the union, doubts may grow about whether they might ultimately have to leave. And if one country can potentially leave the monetary union, then this creates a replicable precedent for all countries.”

If Greece leaves, some of the euro magic that Draghi has sustained with so much creativity will wear off. It is difficult to imagine that Europe will display the thoroughgoing solidarity — open-ended ECB bond purchases, across-the-board bank guarantees and so on — needed to nullify fears of contagion.

The Duke of Wellington reflected 200 years ago that nothing except a battle lost can be half as melancholy as a battle won. A parable for the euro, a line from T.S. Eliot’s “Murder in the Cathedral,” comes to mind: “For every evil, every sacrilege, crime, wrong, oppression and the axe’s edge, indifference, exploitation — you, and you, and you, must all be punished.” As the smoke rises from the field of battle, the euro area will not be a peaceful place.

David Marsh is managing director of the Official Monetary and Financial Institutions Forum (OMFIF), an independent research and advisory group and a platform for confidential exchanges of views between official institutions and the private sector.

http://www.marketwatch.com/story/after-greeces-no-vote-let-the-punishment-begin-2015-07-06 (http://www.marketwatch.com/story/after-greeces-no-vote-let-the-punishment-begin-2015-07-06)

(http://www.createaforum.com/gallery/renewablerevolution/3-111214174727.png)
Title: Re: Money
Post by: AGelbert on July 06, 2015, 07:11:54 pm
Hat tip to Surly for this great find! (http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png)

Here is another view from Thomas Piketty that seems obvious, but I have heard no one mention it:

Germany hasn't paid ANYBODY.

German copyright law is arcane with limited provisions for public reuse, so this is a Google , DIE ZEIT. The original German interview with Thomas Piketty can be found here (http://www.zeit.de/2015/26/thomas-piketty-schulden-griechenland/komplettansicht).

"Germany has never paid"
The star economist Thomas Piketty calls for a large debt conference. Especially Germany must help the Greeks refuse INTERVIEW: Georg Blume

TIME (DIE ZEIT)
June 27, 2015 20:09 c

(http://images.zeit.de/wirtschaft/2015-06/piketty-3/piketty-3-540x304.jpg)

Since his book Success "Capital in the 21st Century" is one of Frenchman Thomas Piketty of the most influential economists in the world. His theories on the distribution of income and wealth triggered last year of a global debate. In time conversation he now mixes also decided in the European debt debate.

DIE ZEIT: Can we Germans are pleased that even the French Government currently pays tribute to the dogmas of the Berlin austerity?

Thomas Piketty: Not at all. That's a reason to celebrate neither France nor Germany, and certainly not for Europe. Rather, I am afraid that the Conservatives, in particular in Germany, are on the verge, Europe and the European idea to destroy - and because of their appalling lack of historical memory.

DIE ZEIT:: We Germans have yet worked up the story.

Piketty: But not when it comes to German debt! The memory of it just for today's Germany would have to be of importance. Look at the history of public debt to: Great Britain, Germany and France have all been in the situation of Greece today, even suffered even higher debts. The first lesson that can therefore be drawn from the history of sovereign debt, is that we do not face new problems. There was always plenty of opportunities to pay off the debt. And never want only one, as Berlin and Paris looking to make the Greeks.

DIE ZEIT:: But they should repay the debt after all?

Piketty: My book tells of the history of income and assets, including the public. What struck me in writing: Germany really is the prime example of a country that has never repaid its government debt in history. Neither after the First nor the Second World War. There was another pay about after the Franco-German War of 1870, when it called for a high payment of France and they got it. For the French state was suffering then for decades under the debt. In fact, the history of public debt irony. They rarely follow our ideas of order and justice.

DIE ZEIT:: But it can not but draw the conclusion that we can do no better today?

Piketty: When I hear the Germans now say that they maintain a very moral dealing with debt and firmly believe that debts must be repaid, then I think: That's a big joke! Germany is the country that has never paid his debts. It can be obtained in other countries no lessons.

DIE ZEIT:: Do you want to try the story in order to portray States who do not repay their debts as a winner?

Piketty: Just such a state is Germany. But slowly: The story teaches us two options for a highly indebted country to settle its arrears. One has fooled the British Empire in the 19th century after the Napoleonic Wars expensive: It's slow method, which today also recommends Greece. The UK division at that DIE ZEIT: the debt through rigorous financial management from - although it worked, but took extremely long. Over 100 years the British relatives two to three percent of its economic output on the debt, spending more than they for schools and education. That must not be and should not be today. For the second method is much faster. Germany has it tried in the 20th century. Essentially, it consists of three components: inflation, a special tax on private assets and liabilities sections.

DIE ZEIT:: And now you want to tell us that our economic miracle was based on debt cuts that we deny the Greeks today?

Piketty: Exactly. The German government was in debt after the war ended in 1945 with more than 200 percent of its gross national product. Ten years later it had little choice but the national debt was less than 20 percent of the national product. France succeeded in that DIE ZEIT: a similar feat. This tremendously rapid debt reduction but we would never have reached with the budgetary resources that we recommend Greece today. Instead, our two countries turned to the second method, the three mentioned components, including debt restructuring. Think. To the London Debt Conference in 1953, canceled on the 60 percent of Germany's foreign debt and also the domestic debt of the young Federal Republic were restructured

DIE ZEIT:: This was from the realization that the high repayment demands on Germany after the First World War were among the reasons the Second World War. They wanted this DIE ZEIT: forgive the Germans for their sins!

Piketty: Nonsense! This had nothing to do with moral insights, but was a rational economic decision. It was recognized at the DIE ZEIT: correctly: According to major crises which have a high debt burden result, there comes a DIE ZEIT: when you have to turn to the future. We can not expect to pay for decades for their parents' mistakes of new generations. Now the Greeks have undoubtedly made great mistakes. By 2009, the government in Athens have forged their budgets. Why not the younger generation of Greeks now bears more responsibility for the mistakes of their parents as the young generation of Germans in the 1950s and 1960s. We must now look forward. Europe was founded on forgetting the debt and investing in the future. And it is not on the idea of eternal penance. We need to remember.

DIE ZEIT:: The end of World War II was a break with civilization. Europe was like a battlefield. That's different today.

Piketty: reject the historical comparison with the post-war period would be wrong. Take the financial crisis of 2008/2009: That was not any crisis! It was the biggest financial crisis since 1929. So we have to do these historical comparisons. This also applies to the Greek national product: Between 2009 and 2015 it fell by 25 percent. This is comparable to the recessions in Germany and France 1929-1935.

DIE ZEIT:: Many German believe that the Greeks have their faults not seen until now and want to just go ahead with its high government spending.

Piketty: If we had told you Germans in the 1950s, that you present your errors have not sufficiently acknowledged, you were still trying to repay your debts. Fortunately, we were smart.

DIE ZEIT:: German Finance other hand, seems to believe that a Greek exit from the euro zone could Europe weld together even faster.

Piketty: If we start to launch a country, the serious crisis of confidence in the euro zone is now, only larger. Financial markets would turn to the next country immediately. That would be the beginning of a long agony, in the course of which we risk Europe's social model, its democracy, to sacrifice even his civilization on the altar of a conservative, irrational debt policy.

DIE ZEIT:: Do you think that we are not Germans generous enough?

Piketty: What are you talking about? Generous? Germany earned so far to Greece by comparatively high interest grants loans to the country.

DIE ZEIT:: What is your proposed solution to the crisis?

Piketty: We need a conference on the total debt as Europe after the Second World War. A debt restructuring is unavoidable not only in Greece but in many European countries. We just lost the completely opaque negotiations with Athens six months. The idea of the Euro Group that Greece in the future generated a budget surplus of four percent, in the next 30 to 40 years to repay its debt is still not off the table. It is said that in 2015 will one percent surplus generated in 2016 then two per cent, in 2017 three and a half percent. Totally crazy! It will never run so. We move the necessary debt debate on the cows come home day.

DIE ZEIT:: And what would after the great haircut?

Piketty: It would require a new democratic European institution, which decides on the permitted level of debt in order to avoid a resurgence of debt. This could for example be a European Parliament chamber, which results from the national parliaments. Financial decisions can not escape the parliaments. To undermine democracy in Europe, as Germany does today, by insisting on the durchgepowerten especially from Berlin Regelautomatismen in debt of states, is a big mistake.

DIE ZEIT:: Your President Francois Hollande has just failed only with his criticism of the fiscal pact.

Piketty: That does not help matters. If in recent years, the decisions in Europe would have fallen in a democratic way, there would be today Europe a less strict austerity.

DIE ZEIT:: As it is doing in France with no party. National sovereignty is considered sacred.

Piketty: In Germany more people do, in fact thoughts that go in the direction of a democratic new foundation of Europe, as in France, with its numerous Sovereignty believers. In addition, our president still makes a prisoner of the failed EU Constitution referendum in France in 2005. François Hollande does not understand that a lot has changed by the financial crisis. National self-interest, we need to overcome.

DIE ZEIT:: What national egoism shows in Germany is at work?

Piketty: I think Germany today is very marked by the reunification. They had a long DIE ZEIT: afraid of being left behind by economic them. But then the union succeeded very well, thanks to a functioning social model intact and industrial structures. Meanwhile, however, the country is so proud of this achievement that it granted all the other countries lessons. This is a bit infantile. Of course I understand the importance of the successful reunification was about the personal history of Chancellor Angela Merkel. But now Germany has to rethink. Otherwise, his attitude towards the debt about a great danger for Europe.

DIE ZEIT:: What do you advise the Chancellor?

Piketty: Those who want to expel Greece from the Euro-Zone today will end up in the dustbin of history. If the Chancellor wants to secure its place in history, like succeeded Kohl with the unification, it must be now successfully used for an agreement in the Greece issue - including a debt conference, which we then start over at zero. But then with a new, much stricter budgetary discipline than before.

Title: Re: Money
Post by: AGelbert on July 06, 2015, 08:30:33 pm
Thanks, AG. I get an increasingly bewildering number of things that hit my inbox every day.
Some of them bear fruit.
Right now this is the only place i know of you can read it in English.
Doubtless not for long, though.

Surly,
You are quite welcome. It would be interesting to see how the NAZI sympathizers at places like Rense.com, who are continually trying to blame the Allies for creating the conditions that created Hitler ("onerous" reparations after WWI), would react to the hard truths your posted article points out.  (http://www.pic4ever.com/images/swear1.gif) They wouldn't like it.  ;D  The continual efforts to make a saint out of Hitler and the German people of that time disgusts me. They are no better than the racist  defenders of the stars and bars. In the USA, it is no coincidence that the same people are often both Holocaust deniers and confederate Flag defenders. (http://www.createaforum.com/gallery/renewablerevolution/3-200714183337.bmp)

Title: Re: Money
Post by: AGelbert on August 09, 2015, 06:01:30 pm
Quote
Quote from: agelbert on August 08, 2015, 01:24:02 PM

    DEFLATION is a misnomer in a fiat currency environment. What part of that do you not understand?

 Catching up on my reading this morning AG, and just had to compliment you on your excellent financial postings of late.

 The capital gains insight was top notch material as well that did not go unnoticed.

 While I realize your favored focus is on other matters, your insights on financial matters, appearing more often, would be most appreciated as well. 

GO,
Thank you.

As to the comments from Palloy on PV and RE on the "population" problem or the "low energy " of Renewable energy systems allegedly making it "IMPOSSIBLE" to transition to 100% Renewable Energy without killing the economy, their arguments are more ideological than logical. It's a waste of time to argue with them.  8)

For your info, the EROI fixation Palloy and others have in regard to doing the math on Energy is flawed. LCOE is what I referred to that really describes energy efficiencies from cradle to grave.

Since you are up on financial and accounting terms, here's a very brief summary of what is involved in formulating LCOE from an excellent article.


SNIPPET 1:


Levelized Cost of Energy (LCOE) Defined


LCOE is used to compare the relative cost of energy produced by different energy-generating sources, regardless of the project’s scale or operating time frame. As Thomas Holt and his co-authors define it in A Manual for the Economic Evaluation of Energy Efficiency and Renewable Energy Technologies (see Resources), LCOE is determined by dividing the project’s total cost of operation by the energy generated. The total cost of operation should include all costs that the project incurs—including construction and operation— and may incorporate any salvage or residual value at the end of the project’s lifetime. Incentives for project construction and energy generation can also be incorporated.

LCOE = Total Life Cycle Cost / Total Lifetime Energy Production 
    (1)

As presented in Equation 1, LCOE is a metric that describes the cost of every unit of energy generated by a project in $/kWh (or ¢/kWh or $/MWh).

As will be shown directly, this basic definition of the LCOE can be expressed mathematically in more complex ways to account for all of the variables that impact the life cycle cost and total energy production for a PV system.


SNIPPET 2:

LCOE Uses

LCOE is most commonly used for evaluating the cost of energy delivered by projects utilizing different generating technologies. Specifically, it is used to rank options and determine the most cost-effective energy source. LCOE may also be used to compare the cost of energy from new sources to the cost of energy from existing sources. In this context, it is useful to policy makers deciding how future energy needs will be met and which technologies to support, and to utilities and project developers selecting technologies. It should be noted that energy-efficiency projects may also be evaluated using the metric.

Because it captures total operating costs, LCOE enables comparisons between significantly different technologies, but it may also be used to compare the cost of energy from variations of the same technology.



SNIPPET 3:

Key Financial Concepts

While it is beyond the scope of this article to thoroughly explain the financial theory behind the LCOE equation, there are two key concepts that you need to understand.

Cash flow. For the purposes of the LCOE calculation, the cash flow is a table showing the amount of money either spent or received each year over the life of the project. The values included in the cash flow vary depending on how the project is financed and whether you are considering tax credits or incentives.

In a simple example, the Year 0 value for a PV project cash flow would include the capital cost of installing the system and any up-front investment or capacity-based incentives. All tax credits, tax savings and performance-based incentives would begin to be recognized in Year 1. For most subsequent years, the only costs in the cash flow would be relatively small O&M expenditures. The likely exception to this would be the year when the inverter needs to be repaired or replaced. In some scenarios, the value of the equipment or material is included in the cash flow at the end of the project lifetime.

If the value of money was static over time, then the total life cycle cost of the project would be determined by simply summing each value in the cash flow. However, a dollar today is worth more than a dollar tomorrow, which leads us to the concept of present value.

Present value. In the context of this discussion, we want to determine how much each annual value in our project cash flow is worth in today’s dollars. To figure this out, we need to multiply each value by some factor less than 1. This factor is called the discount factor and can be represented by the following equation:

Discount Factor = 1 / (1+d)


where d is the rate of return that could be expected from equivalent investment alternatives. The discount factor can be difficult to define and varies from project to project and over time.

A present value calculation allows you to account for the timing of expenditures or revenue and puts a higher value on costs and income that occur near the beginning of a project.
This is important when comparing technologies because they often have different long-term cost profiles. Renewable technologies often require a large up-front investment and incur little cost over the project lifetime, whereas traditional sources of energy often have a lower up-front cost but require continuing significant investment in fuel costs.


http://solarprofessional.com/articles/finance-economics/levelized-cost-of-energy?v=disable_pagination (http://solarprofessional.com/articles/finance-economics/levelized-cost-of-energy?v=disable_pagination)



I have been unable to get these CFS OBVIOUS advantages of Renewable Energy past the ideological lense that Palloy AND RE refuse to stop seeing through. So, I don't bother to try any more.

ALL the arguments presented in this forum against the feasibility of a rapid 100% (or more) transition to Renewable Energy do not hold water. Even the IMF, no friend of Renewable Energy, AGREES with me.  :icon_mrgreen:

The IMF just destroyed the main argument against clean energy May 25, 2015

http://www.energypost.eu/imf-just-destroyed-main-argument-clean-energy/ (http://www.energypost.eu/imf-just-destroyed-main-argument-clean-energy/)


But they aren't the only ones.


Quote
his new book “Clean Disruption of Energy and Transportation”, famous author, lecturer and Silicon Valley entrepreneur Tony Seba predicts that by 2030 all power generation will be solar and wind and all cars will be self-driving electric vehicles. The existing energy industry will be “obliterated”.  ;D In a review of the book, José Cordeiro, founding energy advisor at Singularity University and Visiting Research Fellow at the Institute of Developing Economies ( IDE-JETRO) in Japan, concedes that this sounds unlikely, but calculates that it is very well possible.

http://www.energypost.eu/clean-disruption-silicon-valley-will-make-oil-nuclear-gas-coal-obsolete-book-review/ (http://www.energypost.eu/clean-disruption-silicon-valley-will-make-oil-nuclear-gas-coal-obsolete-book-review/)


But don't try to convince RE or Monsta or Nicole or Ilargi or Palloy et al. They are not listening. Soon they will be forced to face reality. But until then, they will continue to claim I am the one not facing it.  ;D

At any rate, if you want to have some fun with Nicole Foss or Ilargi, ask them what the present value of a deflating currency is...  ;D

http://www.doomsteaddiner.net/forum/index.php?topic=559.msg82616#msg82616
Title: Re: Money
Post by: AGelbert on August 13, 2015, 08:37:08 pm
Let me take this opportunity to congratulate you both. You're very dedicated, each of you, and worthy of a great deal of praise. I mean that sincerely. Please don't think that, because I'm a curmudgeon, that I don't appreciate all you do for this site and for the concerned people in the world.



Thank you. It's the passion thing.  8)  I am frequently so fed up and frustrated about the way things are that I try to quit. Surly usually gives me a lesson in reality and kicks my ass around so I get back in the saddle, but I must admit it gets really old seeing so much POLLUTING POISON coming down on us and so few people willing to realize that we are NOT going to change anything for the better if we get all maudlin about defending/justifying all the wrong moves made by Homo Saps to get to where we are.

If I could synthesize the main argument I have with the Predators 'R' US  crowd, it's that the homeostatic range of ALL life forms, even if many have radically different ranges than ours, DICTATES that there IS such a thing as TOO MUCH of a substance that we need to LIVE. This is LIFE REALITY. But the Wall Streeters do not understand that concept. MKing does not understand that concept either. Most Libertarians do not understand that concept either.

TOO MUCH PECUNIARY PROFIT is deadly for human society. Never mind that it leads to tyranny and oligarchy. That's the LEAST of our concerns. 

The problem is that it is incredibly difficult to maintain our level of civilization and not degrade the biosphere. When addressed as a social challenge, one that everyone must pay for equally, it makes it into that 'homeostatic' area as a metaphor to life processes. In that case, everybody tries to keep their polluting down to a dull (i.e. sustainable) roar, so to speak.

But when a few ass holes running a multibillion dollar fossil fuel industry get MORE MONEY if they POLLUTE MORE through wars, extraction, processing and sale of fossil fuels, they leave behind the 'homeostatic' zone and charge into the extinction trajectory. They become a metaphor for a cancerous tumor. The more billionaires out there DOING what they DO, the more tumors.

It's easy to convince people that having too little money is bad. It's damned near impossible to convince them that having too much money is bad. But it is. That is the lesson and the warning that homeostasis SCREAMS at us from nature.

Most people don't get it. For example, they look at a graph with the X axis equal to time and the Y axis equal to income. They do not understand that, in living beings, that graph has a HOMEOSTATIC ZONE. If you depart from that zone below OR ABOVE, you will harm yourself and those around you (humans AND the rest of the biosphere).

INCOME, when you do the biosphere math, is a certain RANGE of nutrients along with shelter, security, etc. (see Maslow).

Everybody looks at that graph and says there is no such thing as too much "money". Well, your body NEVER gets ANY money; It gets NUTRIENTS. What happens when you eat 72 ounce steaks, drink 10 milk shakes and other sugar "goodies" every day? Well, THAT is what is happening to our society!

Yeah, I know. Good luck trying to convince anybody of that.  :(
 
Nevertheless, at least for now, I will continue, as Knarf, RE and Surly (and others from time to time) do to, not just document our misery, but propose ways to avoid extinction.  ;)


http://www.doomsteaddiner.net/forum/index.php?topic=559.new#new
Title: Re: Money - It's that time again - Oligarchy Asses to meet at a Hole in Wyoming
Post by: AGelbert on August 24, 2015, 06:38:39 pm
What to Expect From the Fed's Jackson Hole Meeting

Mohamed A. El-Erian Aug 24, 2015 2:00 AM EDT

SNIPPET 1:


Quote

Although the official focus this year will be "Inflation Dynamics and Monetary Policy,"   (http://www.createaforum.com/gallery/renewablerevolution/3-241013183046.jpeg) the event organized by the Federal Reserve Bank of Kansas City also should be an opportunity to discuss the challenges facing the global economy, including the slowdown in the emerging world and the threat it presents to social well-being and financial stability. (http://www.freesmileys.org/smileys/smiley-scared002.gif)  ;D


Agelbert NOTE: We KNOW who's social well-being and financial stability the Fed lackeys for Oligarchy are concerned with, don't we?    (http://www.createaforum.com/gallery/renewablerevolution/3-280515145049.png)   (http://www.createaforum.com/gallery/renewablerevolution/3-051113192052.png)

IOW, if your net worth is not well over a one million dollars, your "social well-being and financial stability" does not merit disussion among attending luminaries of world finance.  (http://www.pic4ever.com/images/acigar.gif)


 
SNIPPET 2:


Quote
As things stand, the next scheduled assembly of global economic officials won’t take place until the annual meetings of the International Monetary Fund and the World Bank in the first half of October in Peru.

By then, one of two outcomes will have been established:
Either loosely coordinated national policy responses will have succeeded in restoring calm to markets and in buying more time for the global economy to get back on a growth path, or more intense market volatility will have fueled greater concern about adverse consequences around the world, accentuating the dangers of a vicious cycle of economic contraction and financial instability.  (http://s15.rimg.info/dcda0e08e538cb37431314e6bd49279b.gif)

Investors  (http://www.pic4ever.com/images/165fs373950.gif) may hope for the first outcome. But, absent any changes in policy actions and prospects, they would be well advised to plan for the second.  (http://www.pic4ever.com/images/128fs318181.gif)

http://www.bloombergview.com/articles/2015-08-24/el-erian-fed-jackson-hole-china-markets
Title: Re: Money
Post by: AGelbert on August 25, 2015, 10:16:20 pm
The Crash of 2016 may have started.  :o

https://youtu.be/039Zh9KBCqY

Published on Dec 5, 2013

Looking at American history, Hartmann, host of The Big Picture, sees that roughly every four generations, catastrophe strikes. To avert the next economic and social disaster, he urges us to reject the destabilizing profit motives of corporations, and embrace the ideals of democratic civil values that once defined the nation.

Founded by Carla Cohen and Barbara Meade in 1984, Politics & Prose Bookstore is Washington, D.C.'s premier independent bookstore and cultural hub, a gathering place for people interested in reading and discussing books. Politics & Prose offers superior service, unusual book choices, and a haven for book lovers in the store and online. Visit them on the web at http://www.politics-prose.com/

Title: Re: Money
Post by: AGelbert on August 29, 2015, 07:22:28 pm
Quote
Sure. Also applies if you go back since BEFORE we went off gold.

No it doesn't MKing, you are unaware of monetary history.

Why would they go off it and disparage it if it wasn't in their way?

Your idea that the dim always use that the inflation is all relative and can be kept up with is fallacious and fools talk as well.

Your one of  those people that applies your experience and ability to cope to everyone else.

Go to a seniors center in your area and instead of ****ing about your gout and bragging about your wonderful genes talk to some folks petrified of how to get through the month on and 800 dollar Social Security check and their 10,000 in savings with no interest on it. Good folks that worked all their life and trusted their government and it's currency.

You are clueless about the misery inflation inflicts upon millions of our citizens; that goes for you to Eddie with your callous insensitive remark about the price of hamburg. Be thankful you can dick some poor bastard out of a couple of hundred bucks because of a toothache; you may not always be that fortunate. Inflation is government stealing from the poor and the elderly as well as the trusting citizens of our country. Praise the heavens you have the ability to manage it.



(http://cdn.billmoyers.com/wp-content/uploads/2013/06/AP090812064526_crop-640x360.jpg)

We’re proud to collaborate with The Nation in sharing insightful journalism related to income inequality in America. The following is an excerpt from Nation contributor Greg Kaufmann’s “This Week in Poverty” column.

     http://billmoyers.com/2013/06/22/the-older-americans-act-and-u-s-seniors/ (http://billmoyers.com/2013/06/22/the-older-americans-act-and-u-s-seniors/)  (http://www.pic4ever.com/images/reading.gif)
     

  (http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png)

Apparently MKing, who accurately states that causality is important to scientists  ;), neglects to recognize the effects of inflation, DELIBERATELY ENGINEERED EFFECTS for BANKER SWAG, that CAUSE people on fixed incomes, like the older segment of the population, to lose buying power to the point of having to make choices between food and medications.

And that is just one of "coping strategies" that we-the-people at the wrong end of the economic inflation mechanism have to deal with.  :(  (http://www.createaforum.com/gallery/renewablerevolution/3-200714183312.bmp)

Inflation is analogous to a less sophisticated form of HFT (high frequency trading). Like the HFT, market gaming, parasitical mechanism designed to continuously take (steal) a tiny percentage off the top, the ONLY reason fiat currencies are created is for the express purpose of extracting a "first in line" percentage of buying power off the top BEFORE the masses have, NOT DRIVEN PRICES UP, but been FORCED to pay higher prices because the value of an item reflects the increased fiat money supply.

MKing sees everything in terms of supply and demand. That's incorrect in regard to fiat currencies. There is no "increase" in demand to raise the price of goods and services. There is simply a leveling effect from the increased money supply. It's an insidious effect, tantamount to wealth transfer (theft) form the masses to the elite pigs.

So, the banker elites make a PROFIT off the inflation engineered LOSS/MISERY of the rest of the populace.

This BLATENT cause and effect relationship of inflation seems to go right over MKing's "causality is important to us scientists" head.

I really wonder what part of INFLATION IS A WEALTH TRANSFER MECHANISM FROM THE MASSES TO THE BANKER ELITE  that MKing does not understand.     (http://www.createaforum.com/gallery/renewablerevolution/3-200714191404.bmp)    (http://www.createaforum.com/gallery/renewablerevolution/3-200714191329.bmp)

Anyone that claims this is about supply and demand, see below:

(http://www.createaforum.com/gallery/renewablerevolution/3-230815160919.gif)
Title: Re: Money
Post by: AGelbert on August 30, 2015, 05:59:44 pm
Apparently MKing, who accurately states that causality is important to scientists  ;), neglects to recognize the effects of inflation, DELIBERATELY ENGINEERED EFFECTS for BANKER SWAG, that CAUSE people on fixed incomes, like the older segment of the population, to lose buying power to the point of having to make choices between food and medications.

There is a difference between inflation, and poverty. If the fixed income was high enough, there would be no problem. Therefore, what you are describing isn't a inflation problem. It is an income problem. To solve it is easy, double social security payments. Nothing to do with banksters.b  ;D

Quote from: agelbert
And that is just one of "coping strategies" that we-the-people at the wrong end of the economic inflation mechanism have to deal with.  :(  (http://www.createaforum.com/gallery/renewablerevolution/3-200714183312.bmp)

You talk as though you have never seen the consequences of poverty before?  In the world I grew up in there was no income, let alone someone guaranteeing a fixed one. God that would have been great. As it was, medicine was home recipes and food was something you better go shoot or grow, if you wanted to eat. This fixed income gig sounds pretty good, I think everyone should get one!

Quote from: agelbert
So, the banker elites make a PROFIT off the inflation engineered LOSS/MISERY of the rest of the populace.

This BLATENT cause and effect relationship of inflation seems to go right over MKing's "causality is important to us scientists" head.

Because you saying it doesn't make it so. Causality does matter. There are all SORTS of reasons that inflation happens, and all SORTS of effects. And sure, banksters have been trying to engineer a cut since banks and sters were invented. But inflation isn't the only thing they want a cut of, they want a cut of everything. You should see their percentage for setting up M&A financing. And there is no loss/misery except….in YOUR example…WHEN POVERTY GETS INVOLVED. And when I say POVERTY, I only mean "not enough money for folks to buy whatever they want or need" and this…THIS covers a lot more than what the government might consider POVERTY.

All it takes is a new drug and $100G month to get it and presto…Anthony is enraged that inflation did it!

Please.


MKing, you are using your scattergun approach again. (http://www.createaforum.com/gallery/renewablerevolution/3-200714183312.bmp)Of course there is a world of a difference between abject poverty and coping strategy choices from geezers on pensions like yours truly. That goes without saying.

Social Security being doubled would just barely bring up the buying power of a pensioner on Social Security to the level they had 40 years ago. My point is that inflation EMBEZZLED/STOLE that buying power from them.

Of course there are a lot of scams going on out there to fleece we-the-people beyond inflation by the elite, be they bankers, stock brokers, fossil fuel industry price shock fun and games, Health Insurance Horsesh it and medical professional price gouging, etc.

But inflation is the big enchilada. It takes a bite out of EVERYTHING. It's the CAUSALITY of causalities, as far as buying power erosion.

I hear ya on poverty. I never directly experienced it but I saw pictures of how people lived in Puerto Rico in the 1930's in the countryside.

In the cities, it was nice houses, cars, running water and electricity. In the countryside, none of the above. The wooden (not concrete like they have now) houses had thatched roofs (i.e STRAW). The people mostly walked barefoot. Only city folk had shoes. Bilharzia disease was rampant. TB too.

Only socialist government policies changed all that. The elite, of which many fu cks in my family belong to, just did not give a sh it. The elite never give a sh it, no matter where they live and what their color is. But that is another sore subject.  ;)

A cousin of mine is an Industrial Engineer (Georgia Tech graduate). He worked for a pharmaceutical corporation. He told me all about how much it costs to do what in those factories. MKing, regardless of the fact that the money spent on research is often lost (and needs to be recovered through successful drug sales) because many research projects are a dead end, the pharmaceutical corporations are involved in world class price gouging, FAR and above covering the research costs base.  (http://www.pic4ever.com/images/301.gif)

There is NO EXCUSE for the ROUTINE 2,000 to up to 40,000% mark up on cost on pharmaceutical drugs, PERIOD!  (http://www.pic4ever.com/images/swear1.gif)


Title: Re: Money
Post by: AGelbert on August 30, 2015, 06:08:49 pm
Agelbert NOTE: Eddie is a Dentist from Texas.

that goes for you too Eddie with your callous insensitive remark about the price of hamburg. Be thankful you can dick some poor bastard out of a couple of hundred bucks because of a toothache; you may not always be that fortunate. Inflation is government stealing from the poor and the elderly as well as the trusting citizens of our country. Praise the heavens you have the ability to manage it.

As usual, you miss my point. I mentioned food because we all know food costs are rising quickly . I wasn't being callous, I was trying to understand what's happening with the money.

Considering inflation vs. deflation in assets, ask yourself what happens when food costs eat up a bigger and bigger piece of John Q. Public's income?

 Answer: He spends less and less on anything else, including asset purchases of any kind. So when it comes to assets, higher food prices would seem to me be to actually be deflationary, and not inflationary.

This is not something that is generally understood, but it makes sense to me when I look at what's going on.
Rising prices are only half the equation for inflation. Without more money in the form of wages to spend into the economy, food prices can go to the moon, and we'll still be in a depression.

This is the same fallacious and absurd point that another brought up in the first Foss interview of late. The idea that rising prices and taxes are deflationary, not inflationary.

I would like to know of one instance when the price of something rising does not as an absolute fact mean less money is available for something else. It is self evident, but to call rising prices deflationary is the mark of someone so inept and incapable of sound thinking and comprehension that they cannot be reasoned with.

You and another here live in a world where rising prices are deflationary and therefore by the same twisted, contorted, imbecilic logic, falling prices are inflationary since they give us more money to spend on other items. It's really amazing that you would voice such buffoonery in public and be serious on top of it.

Your thinking is backwards Eddie much as the backward reverse thinking Diner mentor you no doubt pick up this insanity from. As soon, and not until, you find the time to think clearly and learn the difference between inflation and deflation; Alasdair would be an excellent teacher, if you can find the time to listen, I will be happy to continue the conversation with you in financial matters.                                                                                                               Regards, GO

 

   (http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png)
Title: Re: Money
Post by: AGelbert on August 30, 2015, 07:08:36 pm

(From the inflation article you referenced.)


This seems to me to be the salient sentence in the Mises Institute article:


When the Federal Reserve Banks bought the government's 2½% bonds, say, at par, they held down the basic long-term interest rate to 2 percent. And they paid for these bonds, in effect, by printing more money. This is what is known as "monetizing" the public debt. Inflation goes on as long as this goes on.

If almost all the money the Fed created went into the the current equity market bubble, which is badly leaking now and apt to burst, taking the major stock indexes back to some point as far below the mean as they are above it now, then all the phony money the Fed created goes up in smoke. That, my expert friend, is most assuredly NOT inflation.

I think right there is where the traditional understanding of inflation fails to explain our current circumstances.


I am listening to Alisdair now. I hear him talking about the Fed having to helicopter money, which is something I mentioned earlier in this thread last week, and which you stated unequivocally would not occur.

Your suggestion that my fallacious thinking is the result of someone or another's mentoring here or elsewhere is wrong. Fallacious or not, it's based on my own critical thinking skills, and it's an attempt to put the big picture together by engaging in an open discussion of what we see happening in the real world.

I notice that any time I might say something that questions your world view, you react in a personal way, impugning my mental faculties, which I don't appreciate. You're much better at that than you are at making real arguments, which is what I'd much rather engage in, in a thread like this one.

I don't argue that the ultimate end game of currency debasement is a recipe for a fast economic collapse and a hyperinflation. But as Alisdair himself says in this interview you posted, we are not nearly there yet. Selfishly, what I want to understand is a roadmap for how to negotiate the near term future.

The currency wars are rewarding savers of USD cash money at the moment, in a very big way, for those with the means to exploit the arbitrage opportunities to exchange some of their fiat for real goods and for gold, too.

We are also experiencing real and easily measurable deflation at the moment, by nearly any reasonable metric. Commodities say we have had steady deflation for five years. The velocity of money is dropping faster than it did between 1929 and 1932. Welcome to Reality Check 101.

Eddie,
So how come the average Joe used to be able to take a two week to one month vacation each year and own a car and house too, but NOW they can't while YOU still can?     (http://www.createaforum.com/gallery/renewablerevolution/3-200714191404.bmp)

Maybe you want to attribute it to your education and business smarts. I am not trying to impugn your intelligence or ability, but I am, right there with GO, claiming you are engaging in self serving rationalizing.  ;)

When I was a kid, doctors and dentists MOSTLY lived a middle class existence. Something has gone very wrong since then. That "something" involves, to a high degree, inflation caused buying power erosion of people on wages or pensions. 

But there is more to that society destroying inequality calculation. That is the FACT that professionals who own their businesses are exceeding in their buying power, not just published inflation, but actual inflation. They became much wealthier, as a group, than professionals with the SAME level of education and intelligence as peers on wages in a hospital or prison or military service setting.

Health care has become more of a business than a vocation. That is wrong, Eddie. There is no socially valid reason for a doctor or a dentist be remunerated any better than they were when most of them were middle class in the 1950's.
Title: Re: Money
Post by: AGelbert on August 31, 2015, 07:58:50 pm
The Deliberate Erosion of Fixed Income Purchasing Power Engineered by Fed goosed INFLATION in the USA is NON-Democratic THEFT for the Elite. (http://www.pic4ever.com/images/301.gif)

Agelbert NOTE: The Federal Reserve is NOT a democratic organization. The very clever rationale for

Fed "Independence" (from we-the-people, but NOT from elite bias) was based on the alleged "Inflation Bias" of an elected Congress on monetary policy.  (http://www.pic4ever.com/images/tissue.gif) (http://www.pic4ever.com/images/shame.gif)



An "Independent" (as in YOUR VOTES DO NOT APPLY) Fed would allegedly avoid panic and control Inflation better...  (http://2.bp.blogspot.com/_9HT4xZyDmh4/TOHhxzA0wLI/AAAAAAAAEUk/oeHDS2cfxWQ/s200/Smiley_Angel_Wings_Halo.jpg)


Question 41 of a quiz on what the Fed does, why it can do it, what it isn't authorized to do but does anyway, and what the Congress can do about it (but since 1913, never does.  ;) ).

Quote

The case for Federal Reserve independence does not include the idea that

A) political pressure would impart an inflationary bias to monetary policy.
 
B) the principal-agent problem is perhaps worse for the Fed than for congressmen since the former does not answer to the voters on election day.

C) a politically insulated Fed would be more concerned with long-run objectives and  thus be a defender of a sound dollar and a stable price level.
 
D) a Federal Reserve under the control of Congress or the president might make the so-called political business cycle more pronounced.

The correct answer is B).  :(

See below for OBJECTVE criticism of Fed independence (the correct answer is in bold):

Quote
45) Critics of the current system of Fed independence contend that

A) the current system is undemocratic.

 
B) voters have too much say about monetary policy.

C) the president has too much control over monetary policy on a day-to-day basis.

D) all of the above are true.


46) Critics of Fed independence argue

A) that it is undemocratic to have monetary policy controlled by an elite group responsible to no one.

 B) that an independent Fed conducts monetary policy with a consistent inflationary bias.
 
C) that the Fed, since it does not face a binding budget constraint, spends too much of its earnings.

 D) only A and B of the above.   


47) Critics of Fed independence argue

 A) that it is undemocratic to have monetary policy controlled by an elite group responsible to no one.

 B) that independence seemingly does little to guarantee good monetary policy.

 C) that its independence may encourage the Fed to pursue a course of narrow self-interest rather than the public interest.

D) all of the above.   (http://images.sodahead.com/polls/000370273/polls_Smiley_Angry_256x256_3451_356175_answer_4_xlarge.png)
   

Banking: The fed and monetary policy
Study by dwkremer   

https://quizlet.com/75164696/banking-the-fed-and-monetary-policy-flash-cards/

The surreptitious theft/erosion of purchasing power from the wages of Americans is the MAIN cause of the inequality increase in the USA. The Fed did ALL of that. MKing might whine that we-the-people "voted" the Fed into existence in 1913  ::), but that would be a lie as well. Even a cursory examination of how that Christmas eve "vote" for the Fed came about would reveal that democracy and voting did not apply.

The Fed (see Alan Greenspan), in it's "Principal Agent" role (for you know who  (http://www.pic4ever.com/images/acigar.gif)), also was instrumental in getting the BLS (Bureau of Labor Statistics) to modify the cost of living calculation formula in order to low ball "unnecessary items" like housing costs, food and energy  ::). I admit some voting was involved in that shaft job. But really, the COLA gaming was just the icing on the elite 'wealth transfer from the masses to the rich' welfare queen cake! 

WHY? Because, while Inflation SUBTRACTS from the average Joe or Jane's purchasing power, the Fed is GOOSING the purchasing power of the elite by setting margin rates UNDEMOCRATICALLY.

Those margin rates that allow for generous borrowing for speculation by the brokerage firms and big banks do NOTHING for the main street American economy.

But for Wall Street, it gooses speculation in stock market securities, while it wrecks normal price discovery mechanisms. That is, they iNFLATE the paper wealth of a tiny elite sliver of the US.

Then they claim "inflation is under control" because the COLA fun and games make SURE the masses have their purchasing power eroded at the same time.   

Do you understand what loose margin requirements really means? Loose margin requirements is like giving ALL potential borrowers an A+ top tier credit rating. Do you think everybody on wall street merits that? Of course not! But they get it. At the same time, we-the-people get less purchasing power.

The Fed works for the Elite. Voting isn't going to change that any time soon.  :( 

Surly, I agree that union contracts, environmental laws and many other socially positive bits of legislation are the result of elected officials with a conscience. Yes, we need to vote, OKAY?

But the Fed has been an elite tool since it was founded in 1913. After we got off the gold standard, they got worse! And the royalist conspiracy that Thom Hartmann mentions often has taken apart much of the social progress made in this country.

When some duplicitous double talker like MKing brings voting into a discussion of Inflation cause and effect, he does so with exactly the same "we are all to blame" dissembling agenda BALONEY the mainstream media tried to sell us in 2008. I'm surprised you didn't see through that.  :(

Not only are we NOT all to blame, but 90% of us (at least!) are NOT to blame!

We-the-people DID vote Nixon in to become President. He pushed some great environmental legislation.    (http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png)

But THIS action by him was totally undemocratic. THAT action should have required a referendum, but it did not. I suspect the Fed dictated that action to President Nixon.
Quote
The Nixon Shock was a series of economic measures undertaken by United States President Richard Nixon in 1971, the most significant of which was the unilateral cancellation of the direct convertibility of the United States dollar to gold.

https://en.wikipedia.org/wiki/Nixon_Shock

Surly, Today I have once again confirmed what I told you some time ago in a pm about talking to walls at the Doomstead Diner. The flexibility I observe here is like that of one year old cured concrete.     (http://www.createaforum.com/gallery/renewablerevolution/3-200714183337.bmp)

(http://www.libertystickers.com/static/images/give-me-control-of-a-nations-money.gif)
Title: Re: Money
Post by: AGelbert on September 01, 2015, 01:38:48 am
(http://greece.greekreporter.com/files/imf_out.jpg)


Honest Economist Hudson tells it like it is!

SNIPPET:
Quote
Killing the Host (http://store.counterpunch.org/product/killing-the-host-digital-book/) discloses complaints leaked by angry IMF officials who became whistleblowers and published their complaints at Canada’s prestigious Center for International Governance Innovation (CIGI). These same quotes were just cited breathlessly by Reuters. What the wire service did not report was the point that the IMF’s former economists made.

Lagarde continues to insist that Greek debts can be paid by “extend and pretend,” lowering the interest rate and stretching out the maturities. This is her definition of “writing down Greek debts.” Most peoples’ definition would mean writing down the debt principal. Reading Reuters’ selective quotes, it is almost as if the seemingly detailed report was written to counter the political points Varoufakis, I and others have been making.

What Reuters excluded from its report that provides the key to unlock what is most politically embarrassing: The behavior of Obama and Geithner in protecting Wall Street’s ca sino bets that Greece could be arm-twisted to pay. Dominique Strauss-Kahn had two conflicts of interest: He wanted to run for the presidency of France, gaining favor by protecting French banks; and he wanted to get the IMF back into the austerity advice business, by joining the Eurozone troika. When Christine Lagarde started to repeat his refusal to back the recent IMF staff report endorsing write-down of Greek debt, the staff leaked it this spring, much to her embarrassment when the IMF signed onto a troika program with no real debt relief.[4]

The Reuters report throws up a cloud of disinformation saying that she backs debt relief, as if this means backing a writedown of unpayably high Greek debt. Quite the contrary, Lagarde has said again and again that her idea of debt relief is simply to extend and pretend – to stretch out the maturity of Greece’s debt, to lower the interest rate charged.

Full article:

http://michael-hudson.com/2015/09/reuters-public-relations-missif/
Title: Re: Money
Post by: AGelbert on September 04, 2015, 12:12:47 am
(http://images.dailykos.com/images/162060/lightbox/bo150901.gif?1441133574)
Title: Re: Money
Post by: AGelbert on September 06, 2015, 03:43:07 pm
What Currency Is Most Often Used in China? (http://www.createaforum.com/gallery/renewablerevolution/3-200714191404.bmp)

As of 2014, China has the largest economy in the world. Its currency however, is not as valuable as one would expect. In 2014, 1 USD was equivalent to about 6.1 Chinese yuan. As of 2015, only 20% of Chinese trade is conducted with Chinese currency. Foreign currency is most often used in China for trade.

Use of the yuan for trade in China is actually on the rise. In 2009, the Chinese yuan was not used for even 1% of total trade in the country. There is an effort by the Chinese government to increase the value of China's currency in the hopes that it will become a global trading currency in the future.

More about Chinese economy:

•As of 2014, the Chinese economy is worth 17.6 trillion USD.

•The Chinese economy grew at a rate of about 10% for three decades  :o
until 2008.

•As of 2013, US owes China 1.28 trillion USD.  (http://www.pic4ever.com/images/mocantina.gif)

http://www.wisegeek.com/what-currency-is-most-often-used-in-china.htm
Title: Re: Money
Post by: AGelbert on September 13, 2015, 08:32:37 pm
Surly, you crack me up  :emthup:

The system we live "under" was not designed for us to prosper.
This system is like a noose. Not so bad at 1st, until it's tightened !
We are living in the last days & the air ain't so good and easy to breathe now.

There is little doubt that the parasites are killing the host.

As luck would have it, I read Pam Marten's (Wall Street on Parade) review of Michael Hudson's eponymous book. It is reproduced below.
I may just get it, expect we probably all know the ending.

Michael Hudson’s New Book: Wall Street Parasites Have Devoured Their Hosts — Your Retirement Plan and the U.S. Economy

By Pam Martens: August 31, 2015

Author and Economist, Michael Hudson

Michael Hudson

The riveting writer, Michael Hudson, has read our collective minds and the simmering anger in our hearts. Millions of American have long suspected that their inability to get financially ahead is an intentional construct of Wall Street’s central planners. Now Hudson, in an elegant but lethal indictment of the system, confirms that your ongoing struggle to make ends meet is not a reflection of your lack of talent or drive but the only possible outcome of having a blood-sucking financial leech affixed to your body, your retirement plan, and your economic future.

In his new book, “Killing the Host,” Hudson hones an exquisitely gripping journey from Wall Street’s original role as capital allocator to its present-day parasitism that has replaced U.S. capitalism as an entrenched, politically-enforced economic model across America.

This book is a must-read for anyone hoping to escape the most corrupt era in American history with a shirt still on his parasite-riddled back.

Hudson writes from his most powerful perch in chapters describing how these financial parasites have tricked our society into accepting them as a normal, productive part of our economy. (Since we write about these thousands of diabolical tricks four days a week atWall Street On Parade, poignant examples came springing to mind with every turn of the page in “Killing the Host.” From the well-placed articles in the Wall Street Journal toa front group’s pleas for more Wall Street handouts in a New York Times OpEd, to thedirty backroom manner in which corporate speech was placed on a par with human speech in the Supreme Court’s Citizens United decision, to Wall Street’s private justice system and the Koch brothers’ multi-million dollar machinations to instill Ayn Rand’s brand of “greed is good” in university economic departments across America — America has become a finely tuned kleptocracy with a sprawling, sophisticated public relations base.)

How else to explain, other than kleptocracy, the fact that Wall Street’s richest mega banks collect the life insurance proceeds and tax benefits on the untimely deaths of their workers – all codified into law by the U.S. Congress – making death a profit center on Wall Street. Or, as Frontline revealed, that two-thirds of your 401(k) plan over a working lifetime is likely to be lost to financial fees.

Hudson writes: “A parasite’s toolkit includes behavior-modifying enzymes to make the host protect and nurture it. Financial intruders into a host economy use Junk Economics to rationalize rentier parasitism as if it makes a productive contribution, as if the tumor they create is part of the host’s own body, not an overgrowth living off the economy. A harmony of interests is depicted between finance and industry, Wall Street and Main Street, and even between creditors and debtors, monopolists and their customers.”

What has evolved, says Hudson, is that Wall Street banks have “become the economy’s central planners, and their plan is for industry and labor to serve finance, not the other way around.”

To gloss over the collapse of this depraved economic model in 2008, Hudson says these Wall Street central planners simply depict “any adverse ‘disturbance’ as being self-correcting, not a structural defect leading economies to fall further out of balance. Any given development crisis is said to be a natural product of market forces, so that there is no need to regulate and tax the rentiers.”

Similarly, when citizens rise up en masse to demand a realignment of their economy, as happened with the Occupy Wall Street movement, first the public relations masterminds dismiss them as an unhinged gathering of smelly hippies, followed by their violent eviction in the middle of the night, with military precision, by the Praetorian Guard of the kleptocracy. In Manhattan, the Praetorian Guard (NYPD) has a high-tech surveillance center mutually staffed by cops and Wall Street personnel – and mainstream media find nothing unusual about this.

Hudson correctly calls 2008 a “dress rehearsal,” writing that “Wall Street convinced Congress that the economy could not survive without bailing out bankers and bondholders, whose solvency was deemed a precondition for the ‘real’ economy to function. The banks were saved, not the economy.” Hudson adds that the “debt tumor” was left in place. (This is the nightmare we are presently watching unfold.)

The result of the systemic disabling of regulations on Wall Street has resulted in the following, says Hudson: “…the wealthiest One Percent have captured nearly all the growth in income since the 2008 crash. Holding the rest of society in debt to themselves, they have used their wealth and creditor claims to gain control of the election process and governments by supporting lawmakers who un-tax them, and judges or court systems that refrain from prosecuting them. Obliterating the logic that led society to regulate and tax rentiers in the first place, think tanks and business schools favor economists who portray rentier takings as a contribution to the economy rather than as a subtrahend from it.” (But, of course, those business schools are financially incentivized to think that way.)

The outgrowth of these tricks to make parasites appear to be a natural appendage to a well-functioning economy results in a “veritable Stockholm Syndrome.” Hudson explains:

“Popular morality blames victims for going into debt – not only individuals, but also national governments. The trick in this ideological war is to convince debtors to imagine that general prosperity depends on paying bankers and making bondholders rich – a veritable Stockholm Syndrome in which debtors identify with their financial captors.”

Hudson has much to say on the perversity of corporations buying back their own stock. In one chapter, Hudson writes:

“In nature, parasites tend to kill hosts that are dying, using their substance as food for the intruder’s own progeny. The economic analogy takes hold when financial managers use depreciation allowances for stock buybacks or to pay out as dividends instead of replenishing and updating their plant and equipment. Tangible capital investment, research and development and employment are cut back to provide purely financial returns.”

On the timely debate over wealth and income inequality, Hudson writes that “Asset-price inflation is the primary dynamic explaining today’s polarization of wealth and income. Yet most newscasts applaud daily rises in the stock averages as if the wealth of the One Percent, who own the great bulk of stocks and other financial assets, is a proxy for how well the economy is doing. What actually occurs is that financing corporate buyouts on credit factors interest payments and fees into the prices that companies must charge for their products.”

Where this leads, says Hudson, is that “Paying these financial charges leaves less available to invest or hire more labor. Likewise for the overall economy, the effect of a debt-leveraged real estate bubble and asset-price inflation is that interest payments and fees to bankers and bondholders leave less available to spend on goods and services. The financial overhead rises, squeezing the ‘real’ economy and slowing new investment and hiring.”

Hudson is clearly on to something. The U.S. seems to be crashing like clockwork every 8 years with the crashes gaining in intensity. The 2000 dot.com crash wiped $4 trillion out of investment accounts while, 8 years later, the 2008 crash brought down the whole financial system, the U.S. and global economy, and it’s still producing a dead weight on economic growth. Next year will mark the eighth year since the 2008 crash and if last week’s market convulsions were any indication, we’re in for some very rough sledding.

Chapter 8 of “Killing the Host” begins with this quotation from John Maynard Keynes: “When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done.” Hudson expands further:

“Instead of warning against turning the stock market into a predatory financial system that is de-industrializing the economy, [business schools] have jumped on the bandwagon of debt leveraging and stock buybacks. Financial wealth is the aim, not industrial wealth creation or overall prosperity. The result is that while raiders and activist shareholders have debt- leveraged companies from the outside, their internal management has followed the post-modern business school philosophy viewing ‘wealth creation’ narrowly in terms of a company’s share price. The result is financial engineering that links the remuneration of managers to how much they can increase the stock price, and by rewarding them with stock options. This gives managers an incentive to buy up company shares and even to borrow to finance such buybacks instead of to invest in expanding production and markets.”

The net result of this, says Hudson, is an effective “debt-financed takeover from within.”

Hudson writes about the revealing September 2014 Harvard Business Review article by William Lazonick, who noted:

“Consider the 449 companies in the S&P 500 index that were publicly listed from 2003 through 2012. During that period those companies used 54% of their earnings—a total of $2.4 trillion—to buy back their own stock, almost all through purchases on the open market. Dividends absorbed an additional 37% of their earnings.”

“This management strategy created financial wealth by elevating the stock price,” writes Hudson, “not by producing more goods. Earnings per share rose not because companies actually earned more, but because there were fewer shares outstanding among which to spread the earnings. Many of the companies downsized and outsourced their employment and production. The immediate beneficiaries were corporate officers exercising their stock options.”

Hudson quotes another prolific writer on the subject of our bankster-controlled society, Paul Craig Roberts, who has noted the following about corporations buying back their own stock: “The debt incurred will have to be serviced by future earnings. This is not a picture of capitalism that is driving the economy by investment.”

Hudson says that what is happening today in corporate America is very different from the corporate raiders of the 1980s who used leveraged buyouts to gobble up companies. Today, says Hudson, “corporate executives raid their own company’s revenue stream. They are backed by self-proclaimed shareholder activists. The result is financial short-termism by managers who take the money and run. The management philosophy is extractive, not productive in the sense of adding to society’s means of production or living standards.”

Make no mistake about it: this is a dangerous book to the status quo. It is truth-telling at its finest in America’s darkest age of entrenched lies. Michael Hudson has clanged the alarm bells over more continuity government from the likes of Hillary Clinton and her fellow Wall Street Democrats. He’s also scuttled the chances that Donald Trump will be able to reengineer America from “Give me your tired, your poor, your huddled masses yearning to breathe free” to the evil fortress that kicks out infants by directing hatred and blame for America’s woes to impoverished immigrants running from their own leeches.

Hudson’s masterful book comes at the perfect juncture of stock market convulsions and an early election season when Americans are turning out by the tens of thousands to hear what the candidates for the Oval Office plan to do to return the wealth and the soul of America to the people.

“Killing the Host” is available as an e-book at CounterPunch and in print atAmazon.com.


Title: Re: Money
Post by: AGelbert on November 13, 2015, 02:30:04 am
I believe the currency that is, and will always be, the base of all other currencies (either as real analogs like precious metals or "legal tender" - see a gun to your head   (http://www.createaforum.com/gallery/renewablerevolution/3-200714191329.bmp)- counterfeits) is CLEAN energy. DIRTY energy, that is the one that causes more entropy than prevents it, is a scam. Renewable energy, specifically measured in a unit such as a RENEWABLE Joule, Newton, BTU, Watt, ETC. gives LIFE to us and the biosphere.

Of course there are intangibles that have VALUE. How much is friendship worth in DOLLARS? That's hard to say. But perhaps it is easier, and more appropriate, to value friendship, love, compassion, cooperation, etc. in Joules than in 'Jewels'.   (http://www.createaforum.com/gallery/renewablerevolution/3-280515145049.png)   (http://www.createaforum.com/gallery/renewablerevolution/3-051113192052.png)

That would work well for real estate too.  (http://www.coh2.org/images/Smileys/huhsign.gif) How many joules does it cost to keep you warm in winter and cool in summer? Of course the one that uses more is a more "expensive" property. But if people started thinking more logically, the one that uses LESS Joules than the one that uses more would be considered the better buy!

As to appliances, lights and computers, We all know about electricity so that one is easy to measure in energy units.

Every single object made in our civilization requires a certain amount of energy to create and maintain.

Even a work of art such as a painting must be protected from UV degradation so it has inherent energy costs associated with it (storage and protection energy costs must be included of course).

The fact that the intangible "value" of a sculpture or painting or whatever can be extremely high is just human fun and games. There is NO intrinsic value in anything beyond how much energy it requires to make, maintain, store and protect.

The UTILITY of anything is actually defined, if people bothered to do it, by the task it performs. And utility and value, in a sane world, should be solidly linked.

Now a porcelain figurine performs the "task" of WHAT, exactly? Well, it makes you feel good to look at or your fiends like you better because you have good taste, perhaps. That promotes your well being and theirs so some REAL energy is part of the utility of that figurine. So, yeah, it has VALUE in LIFE GIVING energy (the renewable kind ONLY.  (http://www.pic4ever.com/images/301.gif)).

Humans have a thing for things some craftsman (or woman) made even though they are ALL imitations of what we see all around us for the TINY energy cost of LOOKING at nature!

Beauty and symmetry is all around us in nature and we hardly give it a thought or assign it a value. Yet a great painter puts it on a canvas and we make up an excuse called "scarcity" to place an arbitrary high values on it.

People PAY every second of every minute of every hour of every day of every month of every year of their lives in ENERGY to remain alive and well and enjoy each other's company.

So the unit we should use to value things and relationships is the Joule instead of the Jewel (or anything else that is scare).

WATTS new?  (http://dl5.glitter-graphics.net/pub/3328/3328805eipbi6o30e.gif)     (http://www.createaforum.com/gallery/renewablerevolution/3-200714191456.bmp)

We must all value our human family Joules.   (http://www.pic4ever.com/images/4fvfcja.gif)
Title: Re: Money
Post by: AGelbert on December 06, 2015, 05:07:39 pm
Quote
"Money is just a belief system. Therefore, you're free to create another belief system or money system of any shape or form that you wish - and that is so liberating." says founder Diana McCourt.  (http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png) 

https://youtu.be/zzOBEcEDSt8

http://www.nextworldtv.com/videos/community/womanshare.html

Agelbert Note: The oligarchs will allow this until they wish to crush it with the legal tender laws created for the express purpose of ex nihilo money creation for the parasitical class of conscience free capitalist bastards that are turning our biosphere into pollution planet.  >:(

I hope these ladies   (http://www.pic4ever.com/images/19.gif) succeed. Any effort along the Borsodi Constant type lines is worthy of praise.



Title: Re: Money
Post by: AGelbert on December 11, 2015, 04:16:21 pm
The IMF forgives Ukraine’s debt to Russia
 
December 09, 2015 

by Michael Hudson specially for the Saker Blog

SNIPPET:

Quote
Since 1947 when it really started operations, the World Bank has acted as a branch of the U.S. Defense Department, from its first major chairman John J. McCloy through Robert McNamara to Robert Zoellick and neocon Paul Wolfowitz. From the outset, it has promoted U.S. exports – especially farm exports – by steering Third World countries to produce plantation crops rather than feeding their own populations. (They are to import U.S. grain.)

But it has felt obliged to wrap its U.S. export promotion and support for the dollar area in an ostensibly internationalist rhetoric, as if what’s good for the United States is good for the world.  ;)

http://thesaker.is/the-imf-forgives-ukraines-loan-to-russia/
Title: Re: Money
Post by: AGelbert on December 12, 2015, 07:15:58 pm
Billions of Barrels of US Oil Set to Disappear. Poof.  ;D

Quote
Off the keyboard of Thomas Lewis

(http://www.doomsteaddiner.net/blog/wp-content/uploads/2015/12/oil-fire-1024x6811-e1449933214723.jpg)
An oil refinery in Puerto Rico burns in 2009. That’s one way to make a bunch of oil disappear, but accountants can do it faster. And they’re going to.



Published on The Daily Impact on December 10, 2015

In a few weeks, several billion barrels of American oil will vanish in an instant. (I am not making this stuff up: the headline is right there on Bloomberg Business, hardly a chicken-little medium.) This is — shortly to be was — the oil that just a few months ago (Remember? When we were young, and happy?) was to return us to energy independence, to make us the number one oil producer in the world, to bring the happy days here again for good.

Okay, there were weasel words salted into those assurances all along, words that we didn’t realize were there until too late. The new American oil revolution was going to put us on the road back in the general direction of North American energy independence (as long as you counted Mexican and Canadian oil, too); and we would be the number one oil producer if you included in your definition of “oil” such things as biofuels, refinery gains from heat expansion, spillage and, if necessary, drippings from leaky transmissions in shopping mall parking lots.

Well, we bought it. Even the president said we had a hundred years of petroleum lying under our feet. Thus it would be our great-grandchildren, not our grandchildren, whose lives we would ruin by burning it all up. Whew, that was a relief.

But much of that oil is about to disappear, not with the boom of an oil-train explosion or deep-well blowout or terrorist bomb, but with the quiet click of a computer mouse. And this time it’s not (as it often has been before) the Energy Information Administration revising downward a previous guess about oil reserves. 

As the American shale-oil boom, a.k.a. American Oil Revolution, was accelerating back in 2009, the Masters of the Oil Universe demanded and got an accommodation from the Securities and Exchange Commission: it was made easier for the oil companies to claim as hard assets, for purposes of valuing their companies and borrowing money, the value of all the oil they estimated to be “in reserve,” which is to say lying somewhere under the ground they had under their control.

The oil companies’ estimates of their own “proven reserves” were astronomical, of course. In the careful words of one expert observer, David Hughes, “There was too much optimism built into their forecasts.” Translation: They lied.

It is as if you and I, on applying to the bank for a loan, were able to claim as assets all the money we intended to make in our lifetime. “$20 million over 20 years, you say? Why then a $10 million loan should be no problem.” And so it was for the fracking industry, which never could have got started without oceans of cheap borrowed money.

Remarkably, at the time the SEC snuck two tiny limitations into the newly permissive rule, so niggling that no one thought them worthy of mention. To be, um, legitimate, these claimed assets had to be 1) profitable to extract under current market prices, and 2) actually extracted within five years. Profitability went away a year ago when oil prices collapsed from over a hundred dollars a barrel to under 50. Despite the fact that quarterly assessments of assets, including oil reserves, are required, bankers and hedge funds and operators used smoke and mirrors to avoid the Draconian restructuring that the new prices required. But now the five years have run out.

Hence the vanishing oil (which of course is not really vanishing, because it never existed). Chesapeake Energy Corporation, one of the noisiest participants in the erstwhile “Revolution” (Successful? That’s a whole ‘nother story.) is among the hardest to be hit: at year’s end it will lose over a billion barrels of reserves, or 45% of its assets.

Chesapeake is hardly alone. Moody’s Investment Service has just issued a report on the “deteriorating credit quality” in the oil and gas sector, a set of “exceptionally adverse conditions” that are “staggering in their breadth and severity.”

So this is how the oil revolution ends, not with a bang but a poof.

Thomas Lewis is a nationally recognized and reviewed author of six books, a broadcaster, public speaker and advocate of sustainable living. He also is Editor of The Daily Impact website, and former artist-in-residence at Frostburg State University. He has written several books about collapse issues, including Brace for Impact and Tribulation. Learn more about them here (http://www.dailyimpact.net/about-brace-for-impact/).

True.

But unsaid it is that, if the EXACT SAME provisos are applied by the SEC with regard to providing oceans of cheap money for Renewable Energy (BOTH wind and PV qualify as "profitable under the current market conditions"), then the banks should be falling all over themselves to fund a massive transition to Renewable energy that would REALLY make us energy independent (of other countries AND fossil fuel corporations!).

But for some, uh, strange reason, those "oceans" of cheap money ALWAYS seem to be "justified" for fossil fuels and NEVER seem to be "justified" for Renewable Energy. It's fascinating, in a nauseating sort of way, how reality challenged those cheerleading fossil fuels in the government and the banks are.

There must be a reason for that...


(http://s3.amazonaws.com/rapgenius/1375371542_tumblr_m7jevgcaFm1qzqdem.gif)


(http://www.whydidyouwearthat.com/wp-content/uploads/2011/01/tumblr_l7j9nik8Wf1qaxxwjo1_5001.jpeg)
All of us in "real world" know that fossil fuels are always profitable.

Title: Re: Money
Post by: AGelbert on December 21, 2015, 03:18:45 pm
Does Shipping Tell the Real Story of China? You Should Hope Not

December 10, 2015 by Bloomberg

By Manisha Jha

(Bloomberg) — Investors betting that China’s near- insatiable appetite for industrial raw materials will drive global economic growth may want to skip the shipping news.

For the first time in at least a decade, combined seaborne imports of iron ore and coal — commodities that helped fuel a manufacturing boom in the world’s second-largest economy — are down from a year earlier. While demand next year may be a little better, slower-than-anticipated growth in 2015 has led to almost perpetual disappointment for shippers, after analysts’ predictions at the end of 2014 for a rebound proved wrong.

The world has surpluses of everything from corn to crude oil, and commodity prices are heading for their biggest annual loss since the financial crisis. With China’s economy expanding at the slowest pace since 1990 demand has ebbed from one of the biggest importers. The Baltic Dry Index of shipping rates for bulk materials fell to an all-time low last month, turning those who watch the industry increasingly bearish.
Quote
“For dry bulk, China has gone completely belly up,”
said Erik Nikolai Stavseth, an analyst at Arctic Securities ASA in Oslo, talking about ships that haul everything from coal to iron ore to grain. “Present Chinese demand is insufficient to service dry-bulk production, which is driving down rates and subsequently asset values as they follow each other.”

Growth Reversal

China produces about half the world’s steel. The metal is made from iron ore in furnaces fueled by coal, which also is used to run power plants. While domestic mines supply both raw materials, it isn’t enough, so the country must buy from overseas. As the economy surged over the past decade, imports of iron ore tripled, and coal purchases rose almost four-fold since 2008, government data show. The country accounts for two in every three iron-ore cargoes in the world, and is the largest importer of soybeans and rice.

But this year, demand has slowed. Combined seaborne imports of iron ore and coal will drop 4.8 percent to 1.097 billion metric tons, the first decline since at least 2003, according to data from Clarkson Plc, the biggest shipbroker. A year ago, Clarkson was anticipating a 5.5 percent increase for 2015. The broker expects growth to increase just 0.04 percent next year.
Quote
It may get worse.   (http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png)   (http://www.createaforum.com/gallery/renewablerevolution/3-200714191258.bmp)
The China Iron and Steel Association predicted crude-steel output will tumble by 23 million tons to 783 million tons next year. That lost output is more than a quarter of what U.S. steelmakers produce.

The Baltic Dry Index slumped to 504 points on Nov. 19, the lowest since 1985. It has subsequently advanced to 534 points. While rates for iron ore-carrying Capesize ships normally rise at the end of the year, owners are bracing for the weakest fourth quarter since 2001, Baltic Exchange data show.

Estimates Revisited

At the end of last year, shipping analysts forecast rates for Capesize-class vessels would jump by about a third in 2015. Instead, they’re now expecting a decline of about that magnitude.

Imports are weakening even as China’s economy keeps expanding because of reduced spending by local governments that are dominant players in the economy, according to Fielding Chen, a Hong Kong-based economist for Bloomberg Intelligence. The central government in January withdrew guarantees for Local Government Financing Vehicles used to finance infrastructure projects during the country’s boom years, when domestic capacity surged over the past decade, he said.

“This has reduced China’s appetite for steel and copper and other commodities that are used to build roads, subways and reservoirs,” Chen said. “It is not good for the economy and is one of the main reasons China cannot import more.”

Glut of Ships


Economic growth, which is still about half its pre-2008 peak, is also being propped up by increased consumption and services, and a higher rate of spending by the central government, he said.

Sliding Chinese demand is just part of the reason for the slump in freight rates. There are also more ships, and low scrap-steel prices have discouraged demolitions of older vessels, according to Nigel Prentis, the head of consultancy at Hartland Shipping Services Ltd. in London. The fleet will expand 4.1 percent next year compared with an expansion in demand for dry-bulk commodities of 1.6 percent, estimates Clarkson.

“A lot of people ordered vessels believing in the continued growth in Chinese imports,   (http://www.pic4ever.com/images/gen152.gif)” said Erik Folkeson, an analyst at Swedbank First Securities in Oslo. “When that failed to materialize, utilization level dipped. I struggle to see the big triggers for a recovery.”'

(https://upload.wikimedia.org/wikipedia/en/d/df/TheTwilightZoneLogo.png)
The Twilight Zone

The rout in buying showed signs of easing last month. China’s iron-ore imports rose to 82.13 million tons, a jump of 22 percent compared with a year earlier. Even so, the extra shipments are mostly because of rising Chinese steel exports, rather than the nation’s own demand, according to Andy Xie, an independent economist who predicted in February that iron-ore prices would sink into the $30s this year, compared with $71 at the start of the year.

Chinese steel mills have been pressured by losses, low prices and overcapacity as demand drops to levels unseen since 2009, cutting profits and reducing incentive for re-stocking.

“China’s slowdown has come as a major shock to the system,” said Hartland Shipping’s Prentis. “We are now caught in the twilight zone between shifts in China’s economy, and it is uncomfortable as it’s causing unexpected (http://www.coh2.org/images/Smileys/huhsign.gif) slowing of demand.”

–With assistance from Naomi Christie.

©2015 Bloomberg News

http://gcaptain.com/does-shipping-tell-the-real-story-of-china-you-should-hope-not/#.VnhYev9gnm4

Agelbert NOTE:
One of these days, these fine folks in financial reporting will tire of that incredibly stupid expression which describes incredibly stupid behavior by capitalism worshipping ideologues that believe slowing of demand should never be "expected".  (http://www.desismileys.com/smileys/desismileys_6869.gif)
Title: Re: Money
Post by: AGelbert on January 04, 2016, 06:59:11 pm
An interesting (straw grasping) defense of greedism by a Professor of Economics  (http://2.bp.blogspot.com/_9HT4xZyDmh4/TOHhxzA0wLI/AAAAAAAAEUk/oeHDS2cfxWQ/s200/Smiley_Angel_Wings_Halo.jpg)

Quote
If all wealthy people acquired their wealth by exploiting others, then whom did J.K. Rowling exploit?

Alex Tabarrok, Professor of Economics, George Mason University
20.2k Views • Upvoted by Joseph Philleo, 2nd Place at National Economics Challenge... Thrice • Yair Livne, Econ PhD from Stanford GSB • Jake Meyer, Claremont Econ Phd Student, International Money and Finance/Global Political Economy

Alex is a Most Viewed Writer in Economic Inequality.


Whom did J.K. Rowling exploit? The question raises fundamental issues of justice. In a famous section of his book, Anarchy, State, and Utopia, the philosopher Robert Nozick challenged egalitarian and other accounts of distributive justice with the Wilt Chamberlain thought experiment. Since Wilt is no longer quite such a public figure as he once was I prefer to use the JK Rowling thought experiment, although the logic of the argument is the same.

Imagine, Nozick says, a perfectly just distribution of wealth. "Just," by whatever standard you choose. Call this distribution D1. Now let us imagine that JK Rowling writes a book and offers this book to anyone willing to pay her $5. Millions of people do in fact pay her $5 for the pleasure of reading her book and as a result JK Rowling becomes very rich.

After JK Rowling writes and sells her book the distribution of wealth is no longer the same as it began. We have moved from D1 to D2. According to the initial assumption D1 was perfectly just so D2 cannot be perfectly just. Yet at what step of the process did an injustice occur? We began with a just distribution and every transaction was voluntary and informed and indeed every transaction made both the buyer and the seller better off. Thus, no one has cause to complain about D2. Even though D2 differs from D1 and involves a lot of inequality it must be a just distribution because it was arrived at by just transactions.

Since Rowling acquired her wealth through a just process, Nozick argues that JK Rowling is entitled to her wealth. Indeed, Nozick argues that all non-entitlement theories of justice must be false. That is, any theory of justice which attempts to establish a pattern (everyone equal is an obvious pattern but remember D1 could have been any pattern) is false because it is clear from the Rowling example that any such pattern could be upset by a set of transactions which itself are just. Thus, Nozick argues that any distribution is just so long as it is arrived at by just means--this is the entitlement theory of justice.

Nozick's argument shows that capitalism does have a theory of social justice, namely the entitlement theory.

See the Internet Encyclopedia of Philosophy for a longer account of Nozick and his arguments.
(http://www.createaforum.com/gallery/renewablerevolution/3-090315203150.png)

Agelbert COMMENT:


" Thus, Nozick argues that any distribution is just so long as it is arrived at by just means--this is the entitlement theory of justice." (http://www.desismileys.com/smileys/desismileys_2932.gif)

The problem is that the definition of "Just means" has been perverted by the unethical capitalist calculus that claims that profit justifies the externalization of costs (e.g. pollution, bailouts, subsidies, etc.) through the corruption of the legal system and the selective enforcement of laws.
 
It is an obscenity to claim a system that provides harsher penalties for grand larceny than for R A P E, while simultaneously providing "subsidies" to polluting industries and bailouts by we-the-people for bankers that defrauded countries of billions, is "Just".
 
Rowling's wealth is an outlier that is statistically insignificant in the overall elite duplicity that claims capitalism does not fleece the poor and middle class on behalf of the empathy deficit disordered elite who are continuously gaming the system and the laws.
 
Honoré Balzac, surveying the rise of the respectable bourgeois in France, pointed out their dubious origins: “Behind every great fortune is a great crime.”
 
The above generalization continues to be valid in most cases.

https://www.quora.com/If-all-wealthy-people-acquired-their-wealth-by-exploiting-others-then-whom-did-J-K-Rowling-exploit
Title: Re: Money
Post by: AGelbert on January 08, 2016, 05:55:45 pm
Baltic Dry Index Falls Further: Shipping Index Slides 5% to 445 Points!  :o

January 7, 2016 by Reuters

Jan 7 (Reuters) – The Baltic Exchange’s main sea freight index, tracking rates for ships carrying industrial commodities, fell to a record low Thursday on worries over vessel demand from top importer China.

The overall index, which gauges the cost of shipping dry bulk cargoes including iron ore, cement, grain, coal and fertiliser, fell 22 points to 445 points. The near-5 percent drop took the index to its lowest since records began in January 1985.

The dry bulk shipping downturn that began in 2008 after the onset of the financial crisis has worsened significantly in recent months as demand for iron ore and coal has declined in the face of slower economic growth in China.

Analysts also see vessel lay-ups and a higher number of ships dismantled this year if the market does not improve.

“The dry bulk sector will probably have to reduce the new building orderbook and increase ship recycling in 2016 to restore the balance,” Moore Stephens shipping partner Richard Greiner said in a note on Wednesday.

A lay-up is when a ship is taken out of service, with some or all of the crew taken off. In a cold lay-up, a ship is mothballed, with only dehumidifiers to keep it from deteriorating.

The capesize index fell 68 points to 399 points as average daily earnings dropped by $562 to $4,198. Capesizes typically transport 150,000-tonne cargoes such as iron ore and coal.

Rising iron ore supplies from top miners are adding to a glut of the steelmaking raw material, weighing on prices.

The panamax index fell 14 points, a little more than 3 percent, to 450 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $110 to $3,595.

(Reporting By Nallur Sethuraman in Bengaluru; Editing by David Goodman)

(c) Copyright Thomson Reuters 2016.

https://gcaptain.com/2016/01/07/baltic-dry-index-falls-to-record-low-445-points/

Agelbert Comment: Look out below!
(http://www.createaforum.com/gallery/renewablerevolution/3-280914153654.gif)
Title: Re: Money
Post by: AGelbert on January 08, 2016, 06:26:00 pm
Thinking Beyond the Age of Fire


Posted on Jan 4, 2016

By Tim Radford / Climate News Network

This Creative Commons-licensed piece first appeared at Climate News Network.

LONDON—In December, in an unprecedented demonstration of international unity, 195 countries adopted the first-ever, universal, legally-binding agreement to take action on climate change.

It was a decision that, to be truly effective, requires an obligation to think again, at the most fundamental level, about how humans manage energy and maintain the essential comforts of civilisation.

Humans cannot go back to the beginning and start again, but if they had to, Walt Patterson’s new book would be as fundamental a guide to the challenges as any.

It doesn’t contain many helpful prescriptions about the most efficient exploitation of the emerging technologies that could deliver renewable energy, or deliver more bang for the megabuck of investment. But that’s not the point.

Patterson’s point is that a new start means a fresh attitude, and Electricity vs Fire is as nice a statement of the essential simplicity – and the scale – of the challenge as I have yet seen.

Patterson (http://www.pic4ever.com/images/19.gif) first made his name 45 years ago as an informed critic of the nuclear industry, and as one of the early voices of Friends of the Earth. He starts simply by reducing what humans do to six simple and very easily described physical actions.

Quote
•Humans control heat flow: that is, they put on clothes when cold, and open windows when hot.

•They adjust local temperatures: that is, they put a log on a fire or turn down a thermostat.

•Third, they make light: by candle, by electric lamp.

•Fourth, they exert force: they lift weights and push open the door.

•Fifth: they move things: this sounds like exerting force – and it requires force – but the whole of civilisation is based on traffic, on commerce, on the flow of objects, so you can see why he makes it a separate physical action.

•And lastly, humans manage information: they talk, listen, reason, exchange ideas, amass data, create mental pictures of worlds they cannot see, construct histories, and compose paradigms that help them work out how things came to be as they are, and how they could be different.

Everything Homo sapiens has achieved in the last 70,000 years involves all of, but only, those six actions. And for most of those 700 centuries, humans have achieved everything using only tools, and fire, and – but only for a century or so – electricity.

And much of that electricity is made for us with help from fire – coal, oil, gas fire – which delivers carbon dioxide and other greenhouse gases into the atmosphere in quantities so vast that global temperatures have begun to rise and the once-stable global climate has begun to change in ways that, ultimately, threaten civilisation itself.

So the trick is to switch to electrical supplies that don’t depend on fire. We’ve started. But the logic of this book insists, to really change, we need to think the whole process through from the beginning, and understand that humanity’s profound dependence on fire must end.

Chance of change

Having listed the six physical energy-dependent actions that define us as humans, Patterson pursues each of them, as histories, and as opportunities that really do offer change.

The arrival of the combined cycle gas turbine in continuous operation, for instance, meant that generating stations could be smaller, better and clean enough to be close to users, and built in shorter time. Where natural gas was cheap, you could have electricity.


But such innovation pointed to even smaller, better and cleaner ways, and once a “renewable” – a wind turbine or photovoltaic array – is in existence, electricity becomes not a commodity, but a process, with options for new ways of financing it.

Patterson explores the inventive ways we can control heat efficiently without fire, and concedes that domestic cooking “is not, in the main, a significantly wasteful way to use fire. In rich countries the waste occurs much more in the increasing prevalence of processed food.”

“Infrastructure changes only slowly. But minds can change in an instant. Today could be the day you start thinking beyond the Fire Age”

He delivers analysis, and instances better ways of doing things, but the value of a book such as this is that it simply frames the important questions.

On the exertion of force, for instance: “Many people might now argue that most of the undertakings that use lots of brute force, such as large dams and river diversions, mountain-top removal coal mining, tar sands extraction or uranium mining, are at best ill-advised and frequently destructive.

“Closer examination suggests that such undertakings proceed only because those promoting them do not pay the costs of their actions.”

He points out that the whole global economy is based on fire and its consequences, and the consumer society exists to turn resources into waste. The phrase “consumer durables” becomes an oxymoron.

New values needed (http://www.desismileys.com/smileys/desismileys_0293.gif)

To move beyond this “stupid and dangerous” situation, humans “need to rethink the whole value structure that governs what we do and how.”

This is more easily said than done, but he foresees human activity switching towards natural systems, functioning not with the brute force of fire but the elegance of electricity.

One bit of this reviewer murmurs: “Good luck with that!” But another bit endorses his final words: “Infrastructure changes only slowly. But minds can change in an instant. Today could be the day you start thinking beyond the Fire Age.”

Tim Radford, a founding editor of Climate News Network, worked for The Guardian for 32 years, for most of that time as science editor. He has been covering climate change since 1988.

http://www.truthdig.com/arts_culture/item/thinking_beyond_the_age_of_fire_20160104

Agelbert COMMENT: In regard to fossil fuels, it is amusing, in analyzing the prejudices that support their use, how slender the foundation they rest upon is.

The problem with the fossil fuel polluting status quo is that custom and prejudice accompany it and unthinking resistance to change perpetuate it. In human affairs custom, prejudice and resistance to change are stronger than truth and logic.  :(

We need to change that in order to survive our "WE, the 'apex predators', can do WHATEVER"  (http://www.pic4ever.com/images/p8.gif) (http://www.pic4ever.com/images/126fs2277341.gif) suicidal STUPIDITY.

(http://www.createaforum.com/gallery/renewablerevolution/3-220815161550.png)

Quote
"Human nature is bad. Good is a human product . . . A warped piece of wood must be steamed and forced before it is made straight; a metal blade must be put to the whetstone before it becomes sharp. Since the nature of people is bad, to become corrected they must be taught by teachers and to be orderly they must acquire ritual and moral principles." —Sun Tzu

Patterson is a good teacher. We do as he says or perish in a nuclear and fossil fuels fouled nest.

Renewable is the cheaper energy option without fossil fuel and hidden nuclear subsides. (http://renewablerevolution.createaforum.com/fossil-fuel-folly/fossil-fuel-subsidies-in-the-u-s/msg3369/#msg3369)

Top Climate Expert Kevin Anderson: Crisis is Worse Than We Think & Scientists Are Self-Censoring to Downplay Risk. (http://renewablerevolution.createaforum.com/climate-change/global-warming-is-with-us/msg4163/#msg4163)

Our Responsibility to Future Generations (http://renewablerevolution.createaforum.com/climate-change/future-earth/msg3885/#msg3885)
Title: Re: Money
Post by: AGelbert on January 09, 2016, 11:03:54 pm
More Big Ship Deliveries Set to Boost Overcapacity

January 8, 2016 by The Loadstar
(http://theloadstar.co.uk/wp-content/uploads/MSC-Oliver.jpg)
The 199,224 teu capacity MSC Oliver ultra-large container vessel in Okpo, Korea before its delivery in March 2015.

By Mike Wackett

(The Loadstar) – The seemingly never-ending quest by ocean carriers to operate bigger ships was a significant spur for orders for 60 18,000-22,000 teu behemoths in 2015, according to Alphaliner.

Carriers   (http://www.pic4ever.com/images/gen152.gif) were apparently undeterred by weakening market conditions last year  and continued their big-ship strategies – ultra-large container vessels (ULCVs) representing 24% of the total cellular orderbook.

The analyst warned that the “ongoing race” between carriers within the four east-west vessel-sharing alliances to have the lowest unit costs, by reason of the highest nominal capacity, would add to further overcapacity pressures, due to the high number of ULCVs to be delivered in the coming years.

Indeed, there are already signs that carriers have too many ULCVs – which, notwithstanding the recent trial on the transpacific tradelane by the 17,859 teu CMA CGM Benjamin Franklin, are generally restricted in their deployment to the Asia-Europe routes.

In order to obtain the holy grail of lowest unit cost, equating to the cheapest rate offers in the market, carriers must achieve high load factors, thus exerting further downward pressure on freight rates as the call goes out to sales teams: “Fill the ship at all costs.”

One carrier told The Loadstar recently that to efficiently service the trade it ideally needed a combination of different-sized ships going between Asia and North Europe, rather than a one-shoe-fits-all ULCV fleet.

Moreover, notes Alphaliner , there were 52 units of 10,000-13,300 teu ordered last year, albeit that these ships could be deployed on services going via the enlarged Panama Canal after it opens.

Meanwhile, according to Alphaliner’s latest data, the world’s cellular containership fleet had by the end of 2015 reached a total slot capacity of 19.94m teu, representing an 8.5% growth over the previous year.

A record 214 new containerships entered the market last year, adding 1.72m teu to the fleet. However, according to data from shipbroker Braemar ACM, there were just 93 vessels, or 213,000 teu demolished last year, as scrapping prices declined as a result of the global steel glut.

The consequence of reduced scrapping for the container shipping industry – as well as other shipping sectors (excluding tankers buoyed by oil storage charters) – is that charter rates have begun the year under severe pressure again.

And in the absence of demand, for many owners and operators there appears no option but to lay-up their own or long-term-chartered ships, continuing the trend of 2015 which saw the idle containership fleet swell five-fold to 1.36m teu – 6.8% of the global fleet.

Alphaliner does not see ‘early light at the end of the tunnel’ for the container liner industry, and notes that in February’s post-Chinese New Year holiday period there are several blanked sailings planned, which it said would lead to several large ships being idled.

“A significant reduction of the idle fleet is thus not expected until April,” it said.
https://gcaptain.com/2016/01/08/more-big-ship-deliveries-set-to-boost-overcapacity/

(https://img4.fleetmon.com/thumbnails/msc-oliver_9703306_1109499.570x1140.jpg)
MSC Olliver when it is loaded
Title: Re: Money
Post by: AGelbert on January 15, 2016, 12:41:45 am
(http://www.freesmileys.org/emoticons/emoticon-object-106.gif)

Port of Singapore 2015 Container Throughput Falls to 4-Year Low
January 13, 2016 by Reuters

SINGAPORE, Jan 14 (Reuters) – The container turnover at the port of Singapore fell for the first time since 2009 to a four-year low in 2015, largely led by a slump in Asia-Europe volumes, Maritime and Port Authority of Singapore said.

The annual container throughput fell 8.7 percent from the record level in the previous year to 30.9 million TEUs (twenty-foot equivalent units), according to the preliminary data cited by the agency.

Rebalancing of volumes across container shipping alliances agreements, and an increase in direct sailing due to lower oil prices also contributed to the decreasing volume at the world’s second-busiest container port, after Shanghai, said the MPA.

The container shipping market has been plagued by sluggish demand and overcapacity in recent years.

The MPA and PSA, Singapore’s main container terminal operator, have been working on measures to help shipping companies cope with the challenging market conditions, including granting concessions to vessels calling at Singapore.

Total vessel arrival tonnage gained 5.6 percent on the year to 2.5 billion gross tonnage, and bunker sales rose 6.5 percent to 45.2 million tonnes in 2015, said the MPA.

(Reporting by Rujun Shen; Editing by Shri Navaratnam)

(c) Copyright Thomson Reuters 2016.

https://gcaptain.com/2016/01/13/port-of-singapore-2015-container-throughput-falls-to-4-year-low/

VISUAL METAPHOR for the World Economy  :o

https://www.youtube.com/watch?v=vLHhs150URM&feature=player_embedded
https://gcaptain.com/2016/01/11/watch-freighter-olga-m-hits-old-evripos-bridge-in-greece/#.VpiE-f9gnm4


Title: Re: Money
Post by: AGelbert on January 15, 2016, 09:21:38 pm
The 401k of the average American coerced to own stocks through pension funds...

The 401k of the average American has lost about $7,000 since the year began. Just imagine how much the big pocketed Wall Street greedballs lost...

 
(http://pm1.narvii.com/5869/6a64193d6770c3afd17406c78686c0eda32ded1c_hq.jpg)

For those who dislike my rubbing it in, I wish to remind you that I WARNED YOU, not just about fossil fuels, but as to the stock market fed funny money fake valuations as well.   (http://www.pic4ever.com/images/301.gif)  So don't blame me if you didn't take my advice to get out while the getting was good. El que no oye consejo, no llega a viejo.

Quote
A graphic from SEPTEMBER of 2015 by Agelbert:

 
(http://www.createaforum.com/gallery/renewablerevolution/3-280915144116.png)

January 13, 2016, SLB stock price: Schlumberger Limited. NYSE: SLB - Jan 13 2:47 PM EST 63.92




NYSE: SLB - Jan 15 7:52 PM EST 63.03

Title: Re: Money
Post by: AGelbert on January 15, 2016, 09:23:48 pm

Here's more news that underlines the MASSIVE worldwide Economic CRASH going on as we speak.


Hope Fades for Dry Bulk Recovery as Baltic Index Crashes Below 400 Points  (http://www.freesmileys.org/smileys/smiley-scared002.gif)

January 13, 2016 by Reuters

Update (Jan 14) – The Baltic Dry Index fell for a seventh straight day Thursday, down 11 points, or 2.79 percent, at 383 points. The capesize, panamax and handysize indices also touched record lows.

ReutersBy Jonathan Saul

LONDON, Jan 13 (Reuters) – The Baltic Exchange’s main sea freight index, tracking rates for ships carrying industrial commodities, slumped to an all-time low on Wednesday as gloom over global demand and too many ships for hire continued to batter prospects.

The overall index, which gauges the cost of shipping dry bulk cargoes including iron ore, cement, grain, coal and fertiliser, was down 8 points, or 1.99 percent, at 394 points – below 400 points for the first time – and the lowest level in records that date back to January 1985.

“Dry bulk shipping is in the throws of a generational recession,” said Ben Nolan of brokerage and investment bank Stifel. “The recovery in demand no longer appears to be a 2016 event and even 2017 is in question.”

Financial markets have been in turmoil since the start of the year due to worries over the health of the world economy, China’s finances and the fallout from low oil prices.

The dry bulk sector has been particularly hurt by slower Chinese business at a time when the sector is struggling with huge overcapacity.

“More gloom is forecast for the bulker market over the short-term. Concerns over the state of China’s economy are key,” consultants MSI said, adding the sector was in a “critical state”.

Analysts have downgraded several dry bulk companies in recent days leading some to see record falls in their share prices. Industry players say only the strongest firms will withstand the pressure, with casualties expected.

“Dry bulk companies had taken huge debt to finance vessel acquisitions with some hope for revival in the sector. However, this has backfired as shipowners are unable to meet even their operating expenses at the prevailing freight rates, forget about servicing debt,” consultants Drewry said.

The dry bulk shipping downturn began in 2008, after the onset of the financial crisis, and has worsened significantly in recent months as the Chinese economy has slowed, meaning less appetite for iron ore and coal.

The capesize index, shed 21 points, or 7.89 percent, to 245 points on Wednesday. Average daily earnings for capesizes dropped $160 to a record low of $3,101.

Capesizes typically transport 150,000-tonne cargoes such as iron ore and coal and have been particularly affected by a fall-off in coal demand from China. (Editing by Mark Potter)

(c) Copyright Thomson Reuters 2016.
https://gcaptain.com/2016/01/13/hope-fades-for-dry-bulk-recovery-as-baltic-dry-index-crashes-below-400-points/ (https://gcaptain.com/2016/01/13/hope-fades-for-dry-bulk-recovery-as-baltic-dry-index-crashes-below-400-points/#.VpmZwP9gnm4)

(http://i.telegraph.co.uk/multimedia/archive/03366/wile_3366650b.jpg)

(http://www.freesmileys.org/smileys/smiley-forum/popcorn.gif)




Title: Re: Money
Post by: AGelbert on January 15, 2016, 10:58:08 pm

For those who dislike my rubbing it in, I wish to remind you that I WARNED YOU, not just about fossil fuels, but as to the stock market fed funny money fake valuations as well.   (http://www.pic4ever.com/images/301.gif)  So don't blame me if you didn't take my advice to get out while the getting was good.

Advice is easy, I put my money where my mouth is, I got out back in August, remember? It has taken more than 4 months for the market to get to a point where I, betting on doom, am now ahead of the market. 16,500 was my exit point I believe.

Back then we had a conversation because among all the talking head bloggers who won't for a second volunteer when they bet, or how much, while blathering on as though their free advice is worth any more than was paid for it.

So far, I'm a little ahead of the game, and like the valuation of a companies reserve base, I require more before going back in, tip of the spear. When is it time to pile back in GO? 14,000? 12,000? Think we can get a real <10,000 going?

I mean, low fuel prices for upcoming road trips, if the economy tanks it will be happy days for business travel again, even if only for a little while, my most recent analysis for Appalachian producers identified at least one 9 figure target, the prices are destroying cash flows for the stripper well producers, it isn't just a happy hunting ground, it is like...nirvana! hunting grounds!

Listen closely. My advice was delivered to you and everyone else LONG before September of 2015. You know that. I have posted on it. You were abusive, sneering and mocking in stating, as far back as November of 2014, that you would not even consider taking advice from someone like me. I may not meet your standards of excellence and erudition, but that does not mean that your failure to listen to CFS isn't your fault. It is. If you want to make an argument that a person must be "credentialed" before you listen to what they say, then you should live in library. 

You lost your ASS on SLB (and maybe CAM too!) by ignoring my advice. MOST of the descent happened BEFORE you "got out" (a dubious claim since you do not provide evidence of that here).

AND, I DO put my money where my mouth is. THAT IS, I have always been up front about the FACT that I DO NOT OWN STOCKS! What part of that do you wish to twist, mock and deride in your typical empathy deficit disordered modus operandi now?

As far as the "reliability" of your advice here OR in your petroleum industry field, see below:

  (http://www.createaforum.com/gallery/renewablerevolution/3-130116135729.gif)

As I told GO the other day, YOU are not here to help anybody with financial advice and you are PROUD of that!

Your purpose continues to be to convince all of us that, when the environmental sh it your pals have profited from hits the fan, "Fragmentation of Agency" in laying the blame EQUALLY on we-the-people and your beloved polluting fossil fuel pig industry will be the order of the day. (http://2.bp.blogspot.com/_9HT4xZyDmh4/TOHhxzA0wLI/AAAAAAAAEUk/oeHDS2cfxWQ/s200/Smiley_Angel_Wings_Halo.jpg)   (http://www.createaforum.com/gallery/renewablerevolution/3-051113192052.png)


I admit your are pretty good at muddling the issue and creating convenient scape goats. It's part of the MO of an excellent Game Theorist.

You might even get away with it if enough people swallow it. After all, you represent a "business model" that has profited from making suckers out of people while you polluted the sh it out the biosphere for over a century.

So, it must be admitted that you, and those you represent, are quite good at pulling the wool over people's eyes. Congratulations (from other game theorists) are in order. (http://www.createaforum.com/gallery/renewablerevolution/3-200714191329.bmp)

That said, I hasten add that you are somewhat nuanced in your predation. I think you "limit" your Game Theory predatory practices to competitor humans (and animals that get in your way). That is, I am sure you have quite a bit of altruistic behavior reserved for your family, friends and pets.  (http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png)

But beyond that, you disdain, deride and eschew altruism as a weakness to be abhorred by "apex predators" like you.

I may be wrong, but I do believe that you are an accomplished Game Theorist. The advocates of that theory in your beloved "real world" (Wall Street/M.I.C./Polluters' R' US) have degraded our democracy and our biosphere, but they have made a lot of money...

So I guess that makes it all worthwhile to you and your fellow Game Theorists.

But ya know, when the bill for all this environmental damage gets REALLY in our faces, I sincerely hopet, since YOU and your fossil fuel industry pals WILL NOT accept the responsibility for causing the environmental damage, that the rest of us who give a fu ck about future generations can handle it.

Have a nice day.

Title: Re: Money
Post by: AGelbert on January 15, 2016, 11:20:09 pm
RE said,
Quote
January 2016 has earned the title "Wile E. Coyote Month" already, only halfway though the month.  It's reaching EPIC proportions now across all markets.

2016 = Wile E. Coyote (AND the fossil fuel industry outlook...)

https://www.youtube.com/watch?v=_9ieb1Y1VCY&feature=player_embedded

Nice cartoon! The GASOLENE TRUCK sequence is particularly appropriate.    (http://www.createaforum.com/gallery/renewablerevolution/3-280515145049.png) (http://www.createaforum.com/gallery/renewablerevolution/3-051113192052.png)
Title: Re: Money
Post by: AGelbert on January 19, 2016, 10:28:00 pm
Chinese Shipyards See New Orders Fall by Almost Half in 2015  :o
January 18, 2016 by Bloomberg


By Bloomberg News

(Bloomberg) — New orders received by Chinese shipbuilders fell by nearly half last year from 2014, suggesting more consolidation is in order as the country’s appetite for raw materials wanes and shipping rates languish at multiyear lows.

Shipbuilders in China received new orders amounting to 31.3 million deadweight tons last year, a world-leading 34 percent share of the global market, the Ministry of Industry and Information Technology said Monday. Backlog orders fell 12 percent to 123 million deadweight tons, or 36 percent of global market share.

Chinese shipbuilders have sought government support as excess vessel capacity depresses shipping rates, leading to contracts being canceled. South Korean and Singaporean shipyards are also feeling the pain, compounded by a bribery scandal in Brazil that has further affected orders.

China Rongsheng Heavy Industries Group Holdings Ltd.,once the country’s largest private shipyard, exited the sector last year amid heavy losses and changed its name to China Huarong Energy Co. to reflect its new business focus. In early January, Zhoushan Wuzhou Ship Repairing & Building Co. became China’s first state-owned shipbuilder to go bankrupt in a decade.

In a sign of ongoing restructuring in the sector, the 10 leading shipbuilders on the mainland accounted for 53 percent of total orders completed and 71 percent of new orders received in 2015, the ministry said.

©2016 Bloomberg News

https://gcaptain.com/2016/01/18/chinese-shipyards-see-new-orders-fall-by-almost-half-in-2015/
Title: Re: Money
Post by: AGelbert on January 20, 2016, 06:45:18 pm
I just wish to take this opportunity to congratulate GO. Despite my disagreements with his choice of politics, I celebrate the fact that, unlike the fossil fuelers (http://www.pic4ever.com/images/www_MyEmoticons_com__burp.gif) , he firmly believes in NOT subsidizing the past, but instead INVESTING in the FUTURE.    (http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png)


As you all know, or should know, I don't own stocks. GO, however, DOES. And GO began investing in Solarcity some time ago.  (http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png)     (http://www.createaforum.com/gallery/renewablerevolution/3-200714191456.bmp)


Today, despite more cratering in the market in general and FOSSIL FUEL STOCKS IN PARTICULAR  (http://www.freesmileys.org/emoticons/emoticon-object-098.gif) (http://www.pic4ever.com/images/4fvfcja.gif), GO's WISDOM and FORESIGHT was amply rewarded. (http://www.freesmileys.org/emoticons/emoticon-object-062.gif)


WELL DONE. Golden Oxen!
(http://www.freesmileys.org/emoticons/tuzki-bunnys/tuzki-bunny-emoticon-036.gif)

SolarCity Corp NASDAQ: SCTY - Jan 20 6:21 PM EST

33.82 Price increase 2.73 (8.78%)

Fossil fuelers: EAT your heart out! (http://www.pic4ever.com/images/5yjbztv.gif)

Title: Re: Money
Post by: AGelbert on January 20, 2016, 08:48:10 pm
Quote
I just wish to take this opportunity to congratulate GO. Despite my disagreements with his choice of politics, I celebrate the fact that, unlike the fossil fuelers (http://www.pic4ever.com/images/www_MyEmoticons_com__burp.gif) , he firmly believes in NOT subsidizing the past , but instead INVESTING in the FUTURE.    (http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png)


As you all know, or should know, I don't own sticks. GO, however, DOES. And GO began investing in Solarcity some time ago.  (http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png) img]http://www.createaforum.com/gallery/renewablerevolution/3-200714191456.bmp [/img]

Today, despite more cratering in the market in general and FOSSIL FUEL STOCKS IN PARTICULAR  (http://www.freesmileys.org/emoticons/emoticon-object-098.gif) (http://www.pic4ever.com/images/4fvfcja.gif), GO's WISDOM and FORESIGHT was amply rewarded. (http://www.freesmileys.org/emoticons/emoticon-object-062.gif)


WELL DONE. Golden Oxen!
(http://www.freesmileys.org/emoticons/tuzki-bunnys/tuzki-bunny-emoticon-036.gif)

SolarCity Corp NASDAQ: SCTY - Jan 20 6:21 PM EST

33.82 Price increase 2.73 (8.78%)

Fossil fuelers: EAT your heart out! (http://www.pic4ever.com/images/5yjbztv.gif)


Thanks Agelbert, It was your constant postings on what was happening in renewables, and especially Solar, that woke me up to the advancements that were constantly poo pooed by the fossil fuel fucks. 

We should have gone solar decades before, even without the new technologies that are so impressive and improving constantly. 

Did you notice the Saudi's are thinking of presenting a gift to humanity buy selling off Aramco?

I wonder why??  (http://www.createaforum.com/gallery/renewablerevolution/3-200714191404.bmp)  ;D     (http://www.createaforum.com/gallery/renewablerevolution/3-200714191456.bmp)

(http://www.oldcastleprecast.com/news/PublishingImages/header.jpg)


                                       
                                         
(https://static-ssl.businessinsider.com/image/54cbd53b69bedd033ad09526-1200-924/saudi-arabia-king-salman-crown-prince-murqen-mohammed.jpg?maxX=480)

Our Dear friends and allies from Saudi Arabia have decided to Share the Wealth and sell off Aramco to their dear friends in the West.   ;)  (http://www.pic4ever.com/images/4fvfcja.gif)

Their out of dough the poor bastards. (http://www.pic4ever.com/images/tissue.gif)(http://www.pic4ever.com/images/shame.gif)   (http://www.pic4ever.com/images/245.gif)  ;D ;D


You are welcome,  GO.     (http://www.createaforum.com/gallery/renewablerevolution/3-200714191456.bmp)


As to the Saudis, YEP, they are DOING WHAT THEY DO ....  (http://www.createaforum.com/gallery/renewablerevolution/3-280515145049.png)   (http://www.createaforum.com/gallery/renewablerevolution/3-051113192052.png)

After all, they are fossil fuelers. Ethical behavior is simply not part of their "real world".   (http://www.createaforum.com/gallery/renewablerevolution/3-200714191329.bmp)

I recently read that those biosphere math challenged IDIOT Saudi Oil oligarchs are even using solar energy to help them pump out OIL!!!!   (http://www.coh2.org/images/Smileys/huhsign.gif) ::)

HERE COMES THE SUN (http://www.clipartbest.com/cliparts/xig/ojx/xigojx6KT.png)     (http://www.createaforum.com/gallery/renewablerevolution/3-200714191456.bmp)
https://youtu.be/bgiQD56eWDk

                                   Absolutely stunning and gorgeous pictures in this video Don't miss them.

(http://www.pic4ever.com/images/thankyou.gif) for that beautiful video!  (http://us.123rf.com/400wm/400/400/yayayoy/yayayoy1106/yayayoy110600019/9735563-smiling-sun-showing-thumb-up.jpg)
Title: Re: Money
Post by: AGelbert on January 24, 2016, 10:42:54 pm
BIMCO: A Miserable Start to a New Year  (http://www.pic4ever.com/images/minzdr.gif)

January 22, 2016 by Editorial

SNIPPET:

BIMCO remains worried about the sustainability of freight rates in 2016. The demand side seems unable to buoy profits as both Chinese and Indian growth cools off and the rest of the world is still importing smaller volumes than before the financial crisis of 2008.

A new record of shipbreaking volumes in 2016 could limit fleet growth to just 10 million DWT, so in fact “all we need” is an increase in transported volumes to around 60 million tons to balance out the inflow. As little as this may seem, growing from a base of 4,700 million tons – it can prove to be a high bar to jump before we start eating into the significant oversupply of ships.

Full article:
(http://www.createaforum.com/gallery/renewablerevolution/3-221115174326.png)
Shipping industry adapts to new market conditions...

https://gcaptain.com/2016/01/22/bimco-a-miserable-start-to-a-new-year/
Title: Re: Money
Post by: AGelbert on January 28, 2016, 10:30:03 pm
(http://img4.wikia.nocookie.net/__cb20080719200951/uncyclopedia/images/e/e0/Downarrow.PNG)

Vessel Glut Sinks Baltic Index to Fresh Record Low

January 27, 2016 by Reuters

ReutersJan 27 (Reuters) – The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying industrial commodities, hit a record low on Wednesday on persistent oversupply of vessels and tepid demand.

The overall index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser, fell eight points or 2.32 percent to close at 337 points.

The index has tumbled nearly 30 percent in January and is yet to register a single session of gains in 2016.

The dry bulk sector has taken a beating from the slowdown in Chinese business and is struggling with huge overcapacity.

The capesize index fell seven points or 2.89 percent to 235 points.

Average daily earnings for capesize vessels, which typically transport 150,000-tonne cargoes such as iron ore and coal, decreased by $55 to $3,063.

The panamax index dropped nine points or 2.88 percent to a record low of 303 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, fell $69 to $2,428. (Reporting by Arpan Varghese in Bengaluru; Editing by Dale Hudson)

(c) Copyright Thomson Reuters 2016.

https://gcaptain.com/2016/01/27/vessel-glut-sinks-baltic-index-to-fresh-record-low/
Title: Re: Money
Post by: AGelbert on February 02, 2016, 06:03:14 pm
Oakland’s Outer Harbor Terminal Files for Bankruptcy After Loss of Tenant

February 1, 2016 by Reuters

(https://upload.wikimedia.org/wikipedia/commons/a/a2/Port_of_Oakland.jpg)
Photo: Port of Oakland / Creative Commons

ReutersCHICAGO, Feb 1 (Reuters) – Outer Harbor Terminal LLC filed for Chapter 11 bankruptcy protection on Monday, two weeks after terminating its lease held in a joint venture with Ports America.

Last month, Ports America, one of the largest marine cargo operators in the country, said it was shifting its business from the Oakland port to other cities along the West Coast, including Los Angeles and Long Beach.

Related: Ports America’s West Coast Strategy Dumps Oakland Port

In a Chapter 11 petition filed in U.S. Bankruptcy Court in Delaware, Outer Harbor Terminal, which operates part of the Oakland port, listed both assets and liabilities of between $100 million and $500 million.

The Port of Oakland, located on the shore of San Francisco Bay, was one of the first ports in the world to specialize in intermodal container operations. (Reporting by Tracy Rucinski; Editing by Jonathan Oatis)

(c) Copyright Thomson Reuters 2016.

https://gcaptain.com/oaklands-outer-harbor-terminal-files-for-bankruptcy-after-loss-of-tenant/
Title: Re: Money
Post by: AGelbert on February 04, 2016, 08:23:11 pm
(https://pbs.twimg.com/profile_images/527210744178167809/z6CbCdS5.jpeg) Feb 1, 2016 Authors Amory B. Lovins   (http://www.clipartbest.com/cliparts/xig/ojx/xigojx6KT.png) Chief Scientist

As Oil Prices Gyrate  (http://i.telegraph.co.uk/multimedia/archive/03366/wile_3366650b.jpg), Underlying Trends Are Shifting To Oil's Disadvantage  (http://cliparts.co/cliparts/Big/Egq/BigEgqBMT.png)

(http://www.createaforum.com/gallery/renewablerevolution/3-040216194824.jpeg)

Why should equity markets tank when oil prices do? Beats me  ;D. Among many sources of jitters, this shouldn’t be a big one (though The Economist demurs). When oil prices fall 70+ percent, oil companies and their lenders and investors suffer, so do oil-dependent communities, but oil users (far more numerous) rejoice and respend. The net macroeconomic effect sounds as positive as the middle-class tax cut that it effectively is — the OPEC-monopoly-rent tax that Congress has long seemed determined to pay to the Saudis rather than to the Treasury, finally if accidentally being respent at home.

Surely investors understand — don’t they? — that oil is a commodity. As I explained elsewhere, oil prices go down because they went up before, and they go up because they went down before.

Get used to it.  (http://www.desismileys.com/smileys/desismileys_6869.gif) Commodities do that; it’s their job. If you don’t like it, don’t buy them. Buy constant-price, and usually cheaper, efficiency and renewables instead, as the national and global market is doing. Then you can avoid loop-the-loop roller-coaster rides and get your energy services cheaper, cleaner, and more reliably.


(http://www.createaforum.com/gallery/renewablerevolution/3-040216194956.png)


Quote
(http://www.freesmileys.org/emoticons/emoticon-object-106.gif)Those who claimed low oil prices would crash renewables (other than biofuels) were wrong. (http://www.freesmileys.org/emoticons/tuzki-bunnys/tuzki-bunny-emoticon-028.gif)

Those who claimed low oil prices would crash renewables (other than biofuels) were wrong. The reason is simple. Wind and solar power make electricity. Oil makes less than four percent of world and under one percent of U.S. electricity, so oil has almost nothing to do with electricity. Thus in 2015, as oil prices kept skidding, global additions of renewable power set a new record, adding about 121 GW of wind and solar power alone. Renewables’ $329 billion investment was up 4% from 2014, says Bloomberg New Energy Finance (which tracks each transaction), but it added 30 percent more capacity because renewables got much cheaper. Solar power is booming even in the Persian Gulf, where it beats $20 oil.

Natural gas does compete with solar and windpower, and its price tends to move with oil’s, but cheaper gas doesn’t much affect renewable power either. That’s because new wind and solar power often beat even the operating costs of the most efficient gas-fired power plants anyway, even without counting the market value of gas’s price volatility. (http://www.freesmileys.org/emoticons/tuzki-bunnys/tuzki-bunny-emoticon-005.gif)



Yet as oil prices gyrate, it’s important to understand that underlying trends are shifting too, to oil’s disadvantage.  (http://www.createaforum.com/gallery/renewablerevolution/3-200714191258.bmp) It’s happened before. In the 1850s, whalers—America’s fifth-largest industry—were astounded to run out of customers before they ran out of whales. Over five-sixths of their dominant market (lighting) vanished to competitors—oil and gas both synthesized from coal—in the nine years before Drake struck “rock oil” (petroleum) in Pennsylvania in 1859. Two decades later, Edison’s electric lamp beat whale oil, coal oil, town gas, and John D. Rockefeller’s lighting kerosene. Today in turn, most  traditional lighting is being displaced by white LEDs, which each decade get 30x more efficient, 20x brighter, and 10x cheaper. By 2020 they should own about two-thirds of the world’s general lighting market.

Agelbert NOTE: Not mentioned by Lovins, and adding to his argument  ;D, is the fact that the tax on ethanol, either for drinking or use as fuel for lighting, post Civil War made kerosene "cheaper" by Law, NOT because it was cheaper to produce. THAT was a huge factor in getting Rockefeller the fortune he used to corrupt our government on behalf of fossil fuels.


LEDs inside-out are PVs—photovoltaics, turning light into electricity. PVs often, and very soon generally, beat just the fossil-fuel cost of running traditional power plants. PVs are now less capital-intensive than Arctic oil, not counting the ability to use electrons more effectively than molecules. Costly frontier hydrocarbons like Arctic oil can’t sell for a high enough price to repay their costs. Their revenue model has been upside-down for years. Had Shell persevered instead of abandoning its $7-billion Arctic investment, and had it found oil, it wouldn’t have won durable profits.

Oil companies since 1860 and electric utilities since 1892 have sold energy commodities—molecules or electrons—rather than the services customers want, such as illumination, mobility, hot showers, and cold beer. This business model means that when customers use the energy commodity more efficiently to produce the service they want, the provider loses revenue, not cost. That’s bad for both electric utilities and hydrocarbon companies, because most (and for oil, ultimately all) of the commodity they sell can be displaced by far cheaper energy productivity.

That displacement is already well underway. (http://www.freesmileys.org/emoticons/tuzki-bunnys/tuzki-bunny-emoticon-013.gif) Renewable electricity merits and gets lots of headlines, but in 2014 it raised U.S. energy supplies only a third as much as the energy saved in the same year by greater efficiency.

Over the past 40 years, Americans have saved 31 times as much energy as renewables added. Those cumulative savings are equivalent to 21 years’ current energy use. They’re simply invisible: you can’t see the energy you don’t use. But globally, it’s a bigger “supply” than oil, and inexorably, it’s going to get much, much bigger.

Oil companies worry about climate regulation, but they’re even more at risk from market competition. The oil that’ll be unburnable for climate reasons is probably less than the oil that’ll be unsellable because efficiency and renewables can do the same job cheaper. An oil business that sputters when oil’s at $90 a barrel, swoons at $50, and dies at $30 will not do well against the $25 cost of getting U.S. mobility—or anyone else’s, since the technologies are fungible—completely off oil by 2050. That cost, like the $18 per saved barrel to make U.S. automobiles uncompromised, attractive, cost-effective, and oil-free, is a 2010–11 analytic result; today’s costs are even lower and continue to fall.

In short, like whale oil in the 1850s, oil is becoming uncompetitive even at low prices (http://www.freesmileys.org/emoticons/tuzki-bunnys/tuzki-bunny-emoticon-022.gif) before it became unavailable even at high prices.  (http://www.freesmileys.org/emoticons/tuzki-bunnys/tuzki-bunny-emoticon-028.gif)

Today’s oil glut, we hear, is caused by fracking, a bit by Canadian tar sands, and most of all by the Saudis’ awkward (though impeccably logical  ;D) unwillingness to give up their market share to higher-cost competitors. But less noticed, and equally important, is that demand has not lived up to irrationally exuberant forecasts.

Gasoline demand has trended down in the U.S. for the past eight years and in Europe for the past ten, for fundamental and durable reasons of technology, urban form, shifting values, and superior ways to get mobility and access. Suppliers have invested to supply more oil than customers want to buy. Had crimped budgets not curtailed investment budgets, oil companies would still be building pre-stranded production assets as fast as they could.

As frontier oil becomes costlier while accelerating demand-side innovations spread from rich to developing countries, led by China, oil companies face discouraging fundamentals. They’re stuck with the least attractive 6% of global reserves while parastatals keep the rest, and even that last 6% can be confiscated or taxed away at any time. Oil companies are price takers in a volatile market. They’re extraordinarily capital-intensive. They have decadal lead times. They have high technical, geological, and political risks. They’re politically fraught and interfered with; some firms have also suffered self-inflicted reputational damage that sullies the rest. Oil companies’ shrinking reserves and geographies force them into riskier and costlier projects while investors demand lower risk and higher return. Their service companies have turned into formidable competitors. Their permanent subsidies are coming under scrutiny and pressure (http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png).  Most of the reserves underpinning their balance sheets are unburnable or unsellable or both—far costlier than demand-side competitors, even at today’s oil prices, and increasingly challenged even on the supply side—so financial regulators are sniffing around mark-to-market.

What a recipe for headaches! Why be in a business like that? (http://www.pic4ever.com/images/gen152.gif) With mature provinces in decline and fiercely contested, prices volatile, ingenuity strained, exploration pushed to the ends of the earth at spiraling cost and risk, and unforeseen competitors inexorably taking away demand, should hydrocarbon companies ignore, deny, resist, diversify, hedge, finance, transform, or decline? That strategic choice is stark, tough, and increasingly urgent.

And that’s before we add oil’s volatile geopolitics—focused chiefly on the world’s most unstable and dangerous region where a Rubik’s Cube of ancient feuds ensures that, as one expert famously taught, “However bad things are in the Middle East, they can always get worse.”

One troubling scenario concerns the brittleness of Saudi Arabia’s vital 10 million barrels of oil per day—5–10 times the world oil market’s surplus. Most Saudi oil flows through terminals at Ras Tanura and Ju‘aymah and through the Abqaiq processing plant (which al Qa‘eda tried to attack a decade ago and then planned to fly hijacked planes into). These highly concentrated facilities have also been attacked, so far ineffectually. It could take decades to fix damaged key components.

Who might want to do that? Da‘ish or al Qa‘eda would win a twofer: damaging Western economies and toppling the Saudi monarchy (whose export of intolerant Wahhabist ideology, ironically, inspired jihadism in the first place). Oil exporters severely damaged by low oil prices, such as bystanders Nigeria and Venezuela, lack capability to limit Saudi output. But two very interested neighbors might not.

Iran is right across the Gulf, with two big airbases a quarter-hour’s flight from the Saudi oil chokepoints. Iran is a bitter rival, the opposite pole of the tense Shi‘a-Sunni axis, and influential with the disaffected Shi‘a population that predominates in the eastern Saudi region around the main oilfields. Iran is currently in a tiff with the Saudi leadership. Its versatile and creative military and paramilitary forces and proxies don’t not always seem under full political control. Reentering the oil market with the lifting of nuclear sanctions, Iran would like to earn more money per barrel.

Also now active in the neighborhood is militarily formidable Russia—the world leader in secret, disguised, and proxy warfare *. President Putin’s impressive ability to retain power by seeming to protect the Russian people from crises he manufactures cannot work without a viable domestic economy. At today’s oil price, Russia is likely to deplete its stability funds this year and its foreign reserves by about next year, so Mr. Putin may see a much higher oil price (plus lifted Ukraine sanctions) as an existential necessity.

*Agelbert NOTE: I disagree with Lovins that Russia is the "world leader in secret, disguised, and proxy warfare". Russia is WAY BEHIND "our" (see U.S. oligarchs) M.I.C. in that regard.

Ras Tanura and Saudi Aramco have weathered cyberattacks. (Both Iran and Russia have lately cyberattacked their neighbors—Turkey and Ukraine respectively.) There are also many options for physical attack, some hard to forestall. So far, Saudi forces have defeated both cyber- and physical attacks on key oil facilities. But attackers need succeed only once, and they could be highly motivated.

A successful attack, strangling Saudi oil output for years (and then repeatable), could make oil prices soar more than they’ve plunged. Massive global inventories could help cushion the blow, efficiency and renewables could be surged, behaviors would change, but most of 10 million at-risk barrels per day lack ready replacements. Now, that could justify a skittish Dow.

All the more reason to buy efficiency and renewables instead of oil. We’ll profit more and sleep better. (http://www.desismileys.com/smileys/desismileys_0293.gif)

This article originally appeared on Forbes.com.

Photo courtesy of IrenicRhonda via Flickr, Creative Commons license (CC BY-NC-ND 2.0).

http://blog.rmi.org/blog_2016_02_01_as_oil_prices_gyrate_underlying_trends_are_shifting_to_oils_disadvantage
Title: Re: Money
Post by: AGelbert on February 04, 2016, 09:10:01 pm
I don't entirely buy these arguments, but they are interesting.

RE

http://www.greanvillepost.com/2016/02/04/115099/ (http://www.greanvillepost.com/2016/02/04/115099/)

Rockefellers Play With Fire: The Oil Scheme is Getting More Dangerous—
Author TGP STAFF Date February 4, 2016

WITNESSES TO HISTORY
CALEB MAUPIN


(http://www.greanvillepost.com/wp-content/uploads/2015/12/calebMaupin-mike.jpg)

 
(http://www.greanvillepost.com/wp-content/uploads/2016/02/john-d-rockefeller.jpg)
John D Rockefeller (right) was the quintessential robber baron. His devious tactics still work in the 21st century. CC BY-NC-ND by Boston Public Library

Oil has fallen below $30 per barrel. The decline in oil prices that alarmed the world when it began in 2014 has lasted much longer than expected. Natural gas, steel, copper, and other commodities are also seeing their prices fall. Economists are becoming alarmed as all the signs indicating some kind of pending recession are appearing.

US media would have us believe that the “Chinese Slowdown” is solely responsible for this looming escalation of the economic crisis. However, it is widely acknowledged that the low oil prices are quite costly for the global economy and that this prolonged, artificial deflation is getting more and more dangerous. The price drop is intentionally planned and being carried out for specific purposes. For very selfish reasons, the House of Rockefeller is playing with fire, and threatening to burn the entire global economy to the ground.

Securing the Power of Exxon-Mobil

The Rockfellers are one of the most powerful families in the United States, and have been for a long time. Their history can be traced back to the 19th century and the rise of a corporation called Standard Oil. Today, their power can be found in the world’s largest oil corporation, Exxon-Mobil. Exxon-Mobil, a direct descendant of John D. Rockefeller’s Standard Oil, is the fifth-largest corporation in the entire world.

The Rockefellers and their friends at the Council on Foreign Relations have determined that keeping oil prices low serves long-term US foreign policy objectives — i.e., keeping Wall Street at the center of the global economy.

Long ago, when the Rockefellers were rising to power, their favorite tactic for beating out their competitors was price manipulation. In the 1800s, the Rockefellers would lower their prices and flood the markets with cheap oil. Once their opponents went under, they would raise their prices back up, and make bigger profits than ever. This method for centralizing economic power was developed almost into a science by John D. Rockefeller and his minions. Eventually, Standard Oil was targeted by Theodore Roosevelt with his famous “trust-busting” reforms.

In more recent decades, the Rockefellers have distinguished themselves among the US power elite by being visibly political. The Council on Foreign Relations, the highly secretive think tank in which US foreign policy is discussed and established, is almost completely funded by Rockefeller and Ford Foundation money. Rockefeller money is behind the Asia Society, the Open Society Foundations, and many other key voices in US political discourse.

While the Rockefellers are among the richest people on earth, their wealth does not translate to conservative politics as some might naively assume. Since the end of the Second World War, the Rockefellers have been liberals. Inscriptions honoring the Rockefellers can be found inside Riverside Church, a New York City religious institution associated with anti-war and civil rights activism.

MSNBC, the US television network that promotes the liberal politics of Rachel Maddow and Chris Hayes, as well as the pro-Democratic Party comedy sketches of Saturday Night Live, broadcasts from inside Manhattan’s Rockefeller Center. The National Broadcasting Company (NBC) media conglomerate was created by General Electric, one of the biggest military contractors. GE is also part of the Rockefeller empire.

The Rockefeller family is known for promoting reproductive choice, as well as LGBTQ rights. They are closely linked to the Democratic Party. The land on which the United Nations headquarters was constructed was once the property of the Rockefeller family, given as a personal donation.

The powerful family’s ownership of Exxon-Mobil cannot be separated from their strategic political alliances. Barack Obama’s administration and the Democratic Party have been faithful economic and political servants of the Rockefeller dynasty. The money behind the primary opponents of the Democrats on the political stage comes from Exxon-Mobil’s primary competitor. MSNBC’s obsession with demonizing the “Koch Brothers” as the incarnation of modern political evil isn’t simply about politics. Behind the politics is a classic market rivalry between Exxon-Mobil and Koch Industries.

The Rockefeller-CIA Oil Scheme

Three countries which are major opponents of the United States on the geopolitical stage — Russia, Venezuela, and Iran — are also oil exporters and major competitors with US oil corporations. All three of these countries have independent economies centered around government-owned natural resources. Each of these countries are also suffering serious consequences from the oil-price drop.

In Venezuela, the right-wing opposition — funded by Rockefeller- and Ford Foundation-linked NGOs — won control of the parliament in the 2015 December elections. The Bolivarian movement, led by the United Socialist Party and Nicolas Maduro, rose to power by utilizing the oil proceeds to fund housing, education, medical care, and community-controlled media. The oil price drop has caused these forces tremendous problems, and weakened the social programs.

The economic problems created by US sanctions against the Islamic Republic of Iran were intensified by the oil-price drop. Difficult economic circumstances swayed Iranian public opinion, strengthening President Hassan Rouhani and the forces calling themselves the “reformist movement.” The oil-price drop was a significant factor in bringing about the P5+1 nuclear conclusion, in which two-thirds of Iran’s peaceful nuclear energy program was dismantled.

Russia has been forced to cut its domestic budget. The spending of government money made Vladimir Putin very popular. Government-owned oil and natural gas allowed Russia to reboot its economy following the disastrous period of the 1990s.

The Rockefellers and their friends at the Council on Foreign Relations have determined that keeping oil prices low serves long-term US foreign policy objectives — i.e., keeping Wall Street at the center of the global economy.

“The talking heads on MSNBC are working very hard to push the millions of Americans who now identify themselves as “socialists” away from militant labor activism, and toward campaigning for the Democratic Party.”

So, how is the oil-price drop being carried out? What is causing the prices to go down? Innovations in technology, such as hydraulic fracking and new drilling methods, have certainly played a role. However, the primary reason for the extreme drop has been the Kingdom of Saudi Arabia. The repressive, human-rights-violating Saudi monarchy continues to pour tens of millions of barrels of oil onto the international market every day. Despite losing billions of dollars and experiencing an escalating internal crisis, the Saudi regime continues to expand its oil production apparatus. Saudi Arabia executed 47 people on January 1, indicating that its internal problems are getting larger.

The reason for Saudi Arabia’s indulgence in self-destructive economic policies is merely obedience. Saudi oil is the de facto property of Wall Street. Saudi Arabia has the fourth-largest military budget of any country in the world, purchasing weapons almost exclusively from the United States. The Kingdom serves as a Middle Eastern extension of major US oil and military corporations. The Saudi regime is flooding the market, losing money, and wrecking their country, because the bosses at Exxon-Mobil, i.e., the Rockefeller family, are ordering it.

Trump and the Koch Opposition

The oil-price drop does not only serve geopolitical ends. There is a domestic side to it as well. The invention of hydraulic fracking and the rise of domestic oil production in the United States have both brought all kinds of strength to Rockefeller’s competitors. The Koch Brothers emerged stronger than ever, along with a slew of smaller oil tycoons, who lack the kind of longstanding and entrenched influence wielded by the Rockefeller dynasty.

US Congress has lifted the 1973 oil export ban and these domestic competitors can now export on the international markets. It should be no surprise that the Keystone Pipeline, and “Drill, baby, drill!” have become rallying cries of Republican politics. “Drill, baby, drill!” means breaking the power of the Rockefellers and strengthening Koch Industries, along with a whole crew of nouveau riche grouped around them, wanting a bigger chunk of the oil profits.

The Rockefellers are hoping that the oil-price drop can not only defeat the emerging anti-capitalist bloc around the world, but also their domestic competitors. This strategy is working out as well. Houston, a political headquarters for the Koch insurgency, is having a housing crisis because of the oil-price drop. A recent article in the Wall Street Journal highlighted how a town in Montana called Williston, booming a few years ago with new oil, has also been devastated.

(http://www.greanvillepost.com/wp-content/uploads/2016/02/charles-koch.jpg)
The Kochs are getting their filthy butt kicked (so far) by the Rockefeller strategy, which is also supported by the abominable Saudis. CC BY by DonkeyHotey

Now that the more ideologically right-wing Tea Party has run its course, the Koch Brothers have put up Donald Trump as their strongman against the Rockefeller establishment. As Trump preaches hate for immigrants and Muslims, beating his chest with a false “everyman” populism, he is attempting to build a political army. The hope is not so much to capture the presidency but to strong-arm the Ford Foundation and the Rockefeller think tanks away from their monopoly on setting policy. The reason Trump strays from the standard US foreign policy script, seeming friendlier to Russia and more critical of Saudi Arabia, is because he represents Wall Street opposition to Rockefeller dominance. Different strategies in relation to oil-exporting countries are not completely off-limits.

In addition to market rivalries, there has been a long history of tension between the CIA and the Pentagon. The CIA leadership is trained at places like Harvard and Yale, carefully studying the art of how to achieve long-term geopolitical goals. The military brass, on the other hand, is trained only in the hard science of blowing things up. Not surprisingly, the two groups frequently come into conflict with each other. The Rockefellers, with their Council on Foreign Relations and alliance with George Soros, have always been closer to the CIA and the Democrats. The military lines up consistently with the Republicans.

On the global stage, the Rockefellers hope to gradually cash-starve opponents of US power, while fomenting “color revolution”-style internal crises. On the other side of things, Donald Trump talks about “bombing the hell” out of Iraq, and his followers have much more enthusiasm for direct military attacks on defiant countries. The tense standoff surrounding the P5+1 nuclear deal was a manifestation of these strategic differences.

The Agony of Capitalist Crisis

As the Rockfellers and Obama Administration continue to wage economic war against Russia, Venezuela, and Iran — while at the same time trying to economically weaken Koch Industries and secure the power of the oil monopolies — the global economy is headed for catastrophe. The Saudis are obediently churning out oil, and prices in other sectors like natural gas are following close behind. Investor confidence is dropping and the expected panic is setting in.

As things spiral downward, Donald Trump and the Koch Brothers are attempting to utilize the ideological right wing. The obsessively pro-Israel, anti-Islamic and anti-immigrant sectors of the US working class, primarily found among the dispossessed whites of the south and rural areas, are seen as a potential political goon squad.

Meanwhile, the left is being politically re-shuffled as radical ideas reemerge in US discourse. Rockefeller money is deployed to control and direct the re-energized (but completely confused) US left. The Ford Foundation has staged entire conferences against police brutality, hoping to point “Black Lives Matter” away from a confrontation with the US political establishment. The talking heads on MSNBC are working very hard to push the millions of Americans who now identify themselves as “socialists” away from militant labor activism, and toward campaigning for the Democratic Party. The Rockefellers have given up on trying to suppress basic anti-capitalist sentiments, and instead are hoping to redefine socialism with classless phrases like “a government that works for everyone.”

The younger generation of Americans, who are statistically much more left-wing, are the target audience of the Rockefeller political machine. The goal is for the former chaos-loving residents of Zuccotti Park to become disciplined foot soldiers against the Kochs. The last thing that the owners of Exxon-Mobil want is an upsurge of militant street fighters. They don’t want the radicalism of the 1960s Revolutionary Youth Movement or the 1930s Young Communist League. They want obedient functionaries who study Saul Alinsky.

Behind all of this is an almost unresolvable economic problem. The computer revolution has made it cheaper and easier than ever to produce things, and now millions of people have no place in the world economy. The world market is full of commodities, cheaply produced by machines. These products cannot be purchased by the increasingly impoverished people of the world who no longer have a place at the assembly line.

In a crisis of mass migration, the people who the system no longer has a place for have fled from Africa, Latin America, the Middle East, and Southeast Asia. Within the United States and Western Europe, the standard of living is dropping and the next generation is adjusting to a low-wage economy.

With Russia and China as the linchpin, a new bloc of state-controlled, centrally planned economies has emerged, carving out an alternative in the world economy. Global events continue to reinforce the notion that western neoliberal capitalism is not the end of history.

The financial system, based on usury and exploitation, that has ruled the world for over 500 years, is in a long, deep crisis. Within the power structure, different factions are scrambling to save it, as alternatives to it are becoming more attractive to the dispossessed. Different strategies to defeat the rising global opposition are being utilized. Gradually, police state repression and militarism are beginning to replace the “democracy” and “human rights” western societies have often bragged about.

Everywhere the stakes are getting higher, and there is rising danger of greater catastrophe. The global stage of the 21st century is gearing up to unleash world-shaking surprises.


[float=left](http://www.greanvillepost.com/wp-content/uploads/2015/12/Screen-Shot-2016-02-04-at-9.46.00-AM-1-150x150.jpg)[/float]Caleb Maupin is an American journalist and political analyst. Tasnim News Agency described him as “a native of Ohio who has campaigned against war and the U.S. financial system.” He was involved in the Occupy Wall Street movement from its planning stages. His political activism began while attending Baldwin-Wallace College in Ohio. In 2010, he video recorded a confrontation between Collinwood High School students who walked out to protest teacher layoffs and the police. His video footage resulted in one of the students being acquitted in juvenile court. He was a figure within the Occupy Wall Street protests in New York City. Maupin writes on American foreign policy and other social issues. Maupin is featured as a Distinguished Collaborator with The Greanville Post.  READ MORE ABOUT CALEB MAUPIN HERE.

 (http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png) (http://www.createaforum.com/gallery/renewablerevolution/3-200714191456.bmp)


Lower oil prices will certainly lead to mergers of oil big pigs with the small pigs crushed. But if they think that will give them a competitive edge, they do not get it.

Some quotes for a recent Amory Lovins article:

"Those who claimed low oil prices would crash renewables (other than biofuels) were wrong."

"Natural gas does compete with solar and windpower, and its price tends to move with oil’s, but cheaper gas doesn’t much affect renewable power either.  That’s because new wind and solar power often beat even the operating costs of the most efficient gas-fired power plants anyway, even without counting the market value of gas’s price volatility."

But here's the GIANT elephant in the energy room that has made mince meat out of oil demand predictions by the fossil fuelers:


"Over the past 40 years, Americans have saved 31 times as much energy as renewables added. Those cumulative savings are equivalent to 21 years’ current energy use. They’re simply invisible: you can’t see the energy you don’t use. But globally, it’s a bigger “supply” than oil, and inexorably, it’s going to get much, much bigger.

Oil companies worry about climate regulation, but they’re even more at risk from market competition. The oil that’ll be unburnable for climate reasons is probably less than the oil that’ll be unsellable because efficiency and renewables can do the same job cheaper. An oil business that sputters when oil’s at $90 a barrel, swoons at $50, and dies at $30 will not do well against the $25 cost of getting U.S. mobility—or anyone else’s, since the technologies are fungible—completely off oil by 2050. That cost, like the $18 per saved barrel to make U.S. automobiles uncompromised, attractive, cost-effective, and oil-free, is a 2010–11 analytic result; today’s costs are even lower and continue to fall.

In short, like whale oil in the 1850s, oil is becoming uncompetitive even at low prices before it became unavailable even at high prices."  :icon_mrgreen:

As Oil Prices Gyrate  , Underlying Trends Are Shifting To Oil's Disadvantage  (http://renewablerevolution.createaforum.com/geopolitics/money/msg4448/#msg4448)


Title: Re: Money
Post by: AGelbert on February 11, 2016, 02:43:31 pm
Coalition airstrike destroys Islamic State oil and gas plant in Syria (with video)

The Combined Joint Task Force released two videos on Wednesday showing a coalition airstrike destroying an oil and gas plant in Syria controlled by Islamic State.

The black-and-white videos shows aerial footage of a Combined Joint Task Force airstrikes destroying the Daesh gas and oil plant near Dayr Az Zawr, Syria on February 2.

The strike was intended to “disrupt and destroy” illicit oil production at the plant, according to the video.
https://youtu.be/xdxED1ZbG5U

The attack was just one of four airstrikes conducted against ISIL by coalition forces in Syria on February 2, according to the Combined Joint Task Force.

The strikes were conducted as part of Operation Inherent Resolve, the coalition’s operation to eliminate the ISIL in Iraq, Syria and the wider international community.

The Combined Joint Task Force has estimated that Islamic State earns about two-thirds of its revenues through oil production, Business Insider said.

Although it’s difficult to determine exactly how much oil IS produces, the group was believed to control at least 60 percent of Syria’s production capacity in late 2015, according to CNBC.

Quote
Syrian oil production has “essentially ceased”  ;) since ISIS and its affiliates began taking over the country’s oilfields in 2014, according to the U.S. Energy Information Administration.

http://petroglobalnews.com/2016/02/coalition-airstrike-destroys-islamic-state-oil-and-gas-plant-in-syria-with-video/

Agelbert NOTE:
I guess the worldwide oil glut (EIA: U.S. crude inventories above 500 million barrels for first time ever.) threatening the profits of the "coalition" has nothing to do with destroying facilities that were known to the "coalition" OVER A YEAR AGO when they just could not find, for some reason, these facilities until the Russians began "taking care of business".

(https://sdbullion.com/sites/sdbullion.com/files/styles/item-zoom/public/product-images/Competition%20Is%20A%20Sin%20SDBullion.jpeg?itok=kCKuo8FT)
(http://pm1.narvii.com/5869/6a64193d6770c3afd17406c78686c0eda32ded1c_hq.jpg)



Title: Re: Money
Post by: AGelbert on February 11, 2016, 03:41:40 pm
Newz Flash.  This isn't the early 90s, its a quarter century later.

Correct. The 90's in the oil business was after a worse crash, dating back to 1986. (http://www.desismileys.com/smileys/desismileys_2932.gif)


In a few years, when the boomers are shaken out, debt recycled through the bankruptcy courts, when the dead weight workers have moved on to window and car sales, and the existing production taken over by those who know how to do the business when it is work, hard, day in and day out, work, THEN it will be like the 90's. (http://1.bp.blogspot.com/-TzWpwHzCvCI/T_sBEnhCCpI/AAAAAAAAME8/IsLpuU8HYxc/s1600/nooo-way-smiley.gif)

We haven't even hit the big shake out/bankruptcy/mergers phase yet.

  (http://www.createaforum.com/gallery/renewablerevolution/3-100216204839.gif)


Hey MKing, in the 1980's, low oil prices crashed renewables. YOU have been predicting REPEATEDLY here that the SAME "supply and demand" mechanism will work for your oil pig pals again today. You are wrong. Amory Lovins is right.


Quote
(http://www.freesmileys.org/emoticons/emoticon-object-106.gif)Those who claimed low oil prices would crash renewables (other than biofuels) were wrong. (http://www.freesmileys.org/emoticons/tuzki-bunnys/tuzki-bunny-emoticon-028.gif)

Oil companies since 1860 and electric utilities since 1892 have sold energy commodities—molecules or electrons—rather than the services customers want, such as illumination, mobility, hot showers, and cold beer. This business model means that when customers use the energy commodity more efficiently to produce the service they want, the provider loses revenue, not cost. That’s bad for both electric utilities and hydrocarbon companies, because most (and for oil, ultimately all) of the commodity they sell can be displaced by far cheaper energy productivity.

Over the past 40 years, Americans have saved 31 times as much energy as renewables added. Those cumulative savings are equivalent to 21 years’ current energy use. They’re simply invisible: you can’t see the energy you don’t use. But globally, it’s a bigger “supply” than oil, and inexorably, it’s going to get much, much bigger.

Oil companies worry about climate regulation, but they’re even more at risk from market competition. The oil that’ll be unburnable for climate reasons is probably less than the oil that’ll be unsellable because efficiency and renewables can do the same job cheaper. An oil business that sputters when oil’s at $90 a barrel, swoons at $50, and dies at $30 will not do well against the $25 cost of getting U.S. mobility—or anyone else’s, since the technologies are fungible—completely off oil by 2050. That cost, like the $18 per saved barrel to make U.S. automobiles uncompromised, attractive, cost-effective, and oil-free, is a 2010–11 analytic result; today’s costs are even lower and continue to fall.

In short, like whale oil in the 1850s, oil is becoming uncompetitive even at low prices (http://www.freesmileys.org/emoticons/tuzki-bunnys/tuzki-bunny-emoticon-022.gif) before it became unavailable even at high prices.    ;D


http://blog.rmi.org/blog_2016_02_01_as_oil_prices_gyrate_underlying_trends_are_shifting_to_oils_disadvantage (http://blog.rmi.org/blog_2016_02_01_as_oil_prices_gyrate_underlying_trends_are_shifting_to_oils_disadvantage)
Title: Re: Money
Post by: AGelbert on February 12, 2016, 08:16:57 pm
Baltic Index Ends Flat, Pausing 12 Day Losing Streak

February 11, 2016 by Reuters

Feb 11 (Reuters) – The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, ended flat on Thursday after declining for 12 straight sessions as gloom over global demand continues to prevail.

The Baltic dry index is down about 98 percent from its peak of 11,793 points in May 2008, marking the lowest level since the records began in 1985.

The overall index, which gauges the cost of shipping resources including iron ore, cement, grain, coal and fertiliser, remained flat at 290 points.

The dry bulk sector has been particularly hurt by slower Chinese business at a time when the sector is struggling with huge overcapacity.

The capesize index was down 2 points at 206 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, fell $20 to $2,756.

The panamax index was up 11 points, or 3.65 percent, at 312 points. Average daily earnings for panamaxes were up by $86 at $2,503.

The supramax index was down 3 points at 244 points, while the handysize index fell 2 points to 184 points.

(Reporting by Kevin Jose in Bengaluru; Editing by Elaine Hardcastle)
(c) Copyright Thomson Reuters 2016.

https://gcaptain.com/baltic-index-falls-flat-ending-12-day-losing-streak/
Title: Re: Money
Post by: AGelbert on February 18, 2016, 09:21:28 pm
https://youtu.be/wrJiCKj3BsE

Ex Canadian Minister of Defence speaks about UFOs, global warming, and the world financial system
Title: Re: Money
Post by: AGelbert on February 19, 2016, 10:50:09 pm
Golden Ocean CEO On Weak Market: “We are in a very serious situation”

February 18, 2016 by Reuters
(http://rozsavage.com/wp-content/uploads/2010/05/Shui.gif)
MV Golden Shui. Photo credit: Golden Ocean

OSLO, Feb 18 (Reuters) – Dry bulk shipping firm Golden Ocean plans to raise $200 million in fresh equity, backed by its main owner billionaire John Fredriksen, as it continues to face weak markets for its vessels.

The share issue is a condition for refinancing total debt obligations of around $1 billion.

Below are comments from CEO Herman Billung during a fourth-quarter presentation:

ABOUT THE WEAK MARKET

“We are in a very serious situation.”

“These market conditions are not sustainable for anybody but we believe market will repair faster than any analysts expects.

“Under present market circumstances, yards are close to break even, and retail values are much lower. I don’t think people are able to order more vessels and we expect a record low order book in 2016.”

ABOUT ORDER BOOK, SCRAPPING AND MARKET BALANCE


“The order book was at 126 million dead weight tonnes (dwt) at the start of the year.

“I think there will be massive delays. I think it is a fair assumption that the order book now is 90 million dwt and it will be spread out more in time.

“25 vessels are scrapped for the year.

“20 percent of current fleet is scrapping candidates over next 2-3 years.

“We all agree the market is oversupplied, utilisation is around 75 percent.

“Market will remain soft, and with earnings below opex (operating expenses) you could see negative fleet growth in 2016.

ABOUT IDLING VESSELS


“We are seriously considering this, may be vessels at the age of 3-5 years old.

“I think you will see more of this.

“For older vessels I am confident you will see massive scrapping. (Reporting by Ole Petter Skonnord, editing by Gwladys Fouche)

(c) Copyright Thomson Reuters 2016.

https://gcaptain.com/golden-ocean-ceo-on-weak-market-we-are-in-a-very-serious-situation/
Title: Re: Money
Post by: AGelbert on February 21, 2016, 07:17:35 pm
The Party is OVER
https://youtu.be/6rVuquKd7Rg
Title: Re: Money
Post by: AGelbert on February 22, 2016, 11:09:13 pm
Investors are thinking anew about climate risk
Deborah Winshel, Special to Financial Post | February 11, 2016 | Last Updated: Feb 11 12:00 AM ET

SNIPPET:


1. Investor awareness of climate change risks driving promotion of sustainability issues.

The bury-your-head-in-the-sand strategy is not an option. Individual investors are beginning to take a stance on climate change in the way they invest, eliminating the most serious risks and putting their money in companies that support positive environmental outcomes. Many institutional investors are also using their influence and investment capital to bring about positive change. We believe that transparency and reporting standards will be critical as investors seek more information on carbon emissions and sustainability measures.

2. Industry participation in the climate change debate.


One of the unique things about the Paris summit is that it involved more than the usual participants. Attendees included not only diplomats, environmental ministers and heads of state, but leaders from the private sector. Many see opportunities in the transition to a low-carbon economy and are changing the way they do business, from green buildings to waste management to industrial efficiency. As companies old and new shift their focus to sustainability, new opportunities are being created for investors.

3. Increased research and development spending to reduce emissions and raise energy efficiency.

Prior to the Paris summit, 20 major countries agreed to double their clean energy research and development (R&D) spending over five years in an initiative called Mission Innovation. These countries produce three-quarters of global CO2 emissions from electricity generation and account for 80 per cent of the world’s clean energy R&D spending. The funding could make a massive difference in the development and adoption of renewable energy, as it creates opportunities for public-private partnerships to invest in this new technology.

4. Climate change risk mitigation efforts start at the local level. Although the Paris agreement established a global framework, any regulations in response to it will be localized.

Key markets like China, the European Union and the United States will have considerable influence on other countries’ responses. The expectation is that regulatory change will affect specific industries, from resources and power generation to manufacturing and building.
 What does this mean for you?

As noted in The Price of Climate Change, my colleagues and I believe these trends will not only encourage significant growth in clean technologies, energy efficiency and renewable infrastructure, but also greater transparency and reporting on sustainability and the carbon footprints of corporations around the globe. Furthermore, carbon-heavy industries are not immune from disruption, nor are asset prices from regulatory efforts to mitigate climate change risk. We believe investors should thoughtfully consider these dynamics in order to build sustainable portfolios and take advantage of investment opportunities as we move towards a low-carbon economy.

Deborah Winshel is global head of impact investing at BlackRock and a guest contributor to The BlackRock Blog.

http://business.financialpost.com/active-investor/investors-are-thinking-anew-about-climate-risk

Title: Re: Money
Post by: AGelbert on February 24, 2016, 07:41:40 pm
(https://lebbeuswoods.files.wordpress.com/2008/06/lwblog-junk1.jpg)
Goldman Sachs: Nearly half of our oil and gas loans are junk  (http://www.desismileys.com/smileys/desismileys_0293.gif)

Staff Writers  February 23, 2016   
 
Nearly half of Goldman Sach’s oil and gas loans are now tied to junk-rated firms, the company said in its annual 10-k filing.

According to Bloomberg, non-investment-grade firms now account for 40 percent of the bank’s loans and lending commitments to oil and gas companies.

Goldman’s loans and lending commitments to junk-rated oil and gas firms are currently worth $4.2 billion, with loans to energy firms rated below investment grade coming in at $1.5 billion along with $2.7 billion related to lending commitments.

The bank’s total credit exposure to oil and gas companies tied to loans and lending commitments was $10.6 billion as of December 2015.

“Significant declines in the price of oil have led to market concerns regarding the creditworthiness of certain companies in the oil and gas industry,” Goldman said in the filing.

Goldman’s credit exposure related to derivatives and receivables with oil and gas companies stood at $1.9 billion as of December, with the bulk of that exposure tied to investment grade firms, according to the filing.

The bank’s total market exposure to oil and gas firms fell to negative $677 million in 2015, down from $805 million a year ago.

Investment-grade issuers or underliers account for the majority of Goldman’s market exposure related to oil and gas companies, the company said.

The extended oil price rout and swelling crude inventories have stoked concerns that the oil and gas sector may be hit by a wave of bankruptcies.

According to a recent report from Deloitte, nearly 35 percent of pure-play E&Ps listed worldwide, or about 175 companies, are at a “high risk” for insolvency.

“The probability of these companies slipping into bankruptcy is high in 2016, unless oil prices recover sharply or a large part of their debt is converted into equity or big investors infuse liquidity into these companies,” Deloitte said.

Low crude prices may also make it more difficult for those firms that have already sought bankruptcy protection to exit restructuring.

Although more than 80 percent of U.S. E&P firms that have filed for bankruptcy since July 2014 are still operating under Chapter 11 protection, Deloitte found that the majority of those restructuring plans were approved (http://www.pic4ever.com/images/gen152.gif) (http://www.pic4ever.com/images/126fs2277341.gif) when oil prices were around $55 to $60 per barrel.

http://petroglobalnews.com/2016/02/41136/

(http://www.createaforum.com/gallery/renewablerevolution/3-260116194536.png)


(http://cdn.images.express.co.uk/img/dynamic/23/183x122/633968_1.jpg)

Renewable energy= (http://www.createaforum.com/gallery/renewablerevolution/3-301014181553.gif)                                (http://www.freesmileys.org/smileys/smiley-scared002.gif)=Fossil Fuelers
Title: Re: Money
Post by: AGelbert on February 25, 2016, 06:59:48 pm
Vintage-style posters highlight clean energy projects financed through the Recovery Act  (http://www.bativert.ma/images/image3.jpg)

https://youtu.be/R-ljkEkl1DE

Article with beautiful graphics:  (http://dl5.glitter-graphics.net/pub/3328/3328805eipbi6o30e.gif)  (http://www.clipartbest.com/cliparts/xig/ojx/xigojx6KT.png)


http://www.treehugger.com/renewable-energy/vintage-style-posters-highlight-clean-energy-projects-financed-through-recovery-act.html

(http://www.createaforum.com/gallery/renewablerevolution/3-240216150628.png)
(http://www.createaforum.com/gallery/renewablerevolution/3-240216160018.png)(http://www.createaforum.com/gallery/renewablerevolution/3-240216231558.png)

Title: Re: Money
Post by: AGelbert on February 25, 2016, 10:17:57 pm
Solstad Offshore Says Consolidation Needed to Restore Profits   (http://www.pic4ever.com/images/165fs373950.gif)  (http://www.pic4ever.com/images/gen152.gif)
February 24, 2016 by Reuters

OSLO, Feb 24 (Reuters) – Offshore supply vessel owners must form larger companies in order to restore profitability to an industry battered by plunging demand from oil firms, the head of Norway’s Solstad Offshore said on Wednesday.

With crude prices down more than 70 percent since mid-2014, energy firms have sharply cut their investments and thus rent less equipment from suppliers.

So far about 100 vessels have been removed from Solstad’s main North Sea market, but with only limited effect on rates for its anchor handling ships and no effect for its platform supply ships, where rates remains below crew costs.

“Something has to happen on a structural level because even though boats are taken out of operations and laid up, the owner side is so fragmented that the path to reaching sustainable rate levels is far too long,” Chief Executive Officer Lars Peder Solstad told Reuters.

According to Solstad there are currently some 70 to 80 vessels operating in the spot market in the North Sea and up to 30 different owners.

“I think the industry will look different a couple of years from now.
(http://www.createaforum.com/gallery/renewablerevolution/3-010215143525.png)

There will be bigger units, either at the company level or within segments. Maybe both. We believe this is coming and we want to be a part of this,” he added.  (http://www.pic4ever.com/images/p8.gif)

So far, Solstad has mothballed 13 vessels and initiated cost saving initiatives of up to 500 million Norwegian crowns ($57.35 million) on an annualised basis to prepare for weak markets lasting for a longer period.

It has also started discussions with banks and creditors (http://www.pic4ever.com/images/tissue.gif) to come up with a plan for how to adjust to a new activity level that none of the players in the industry had prepared for. (http://www.pic4ever.com/images/shame.gif)


“It will be weak into 2018. There may be rays of lights, the oil price might rise and things can happen, but we must be careful about being too optimistic. We have to be realistic and take into account that it might even get worse,”  (http://www.desismileys.com/smileys/desismileys_0293.gif) Solstad said.

The firm said however that the subsea segment was still a bright spot, despite pressure on rates, and that it had ongoing discussions with clients regarding new contracts and contract extensions.

Quote
Late on Tuesday, Solstad reported an operation loss of 1.1 billion Norwegian crowns for the fourth quarter, hit by vessel impairments of 1.35 billion, compared to a profit of 273 million in the same quarter last year.

Solstad also said the board would propose that no dividend was paid for 2015. ($1 = 8.7178 Norwegian crowns) (Reporting by Henrik Stolen, editing by Terje Solsvik)

(c) Copyright Thomson Reuters 2016.

https://gcaptain.com/solstad-offshore-says-consolidation-needed-to-restore-profits/


Agelbert NOTE:
  What part of The Party is OVER (http://renewablerevolution.createaforum.com/climate-change/global-warming-is-with-us/msg4560/#msg4560) do these biosphere math challenged wonders of profit over planet worship NOT UNDERSTAND?

The only intelligent recourse for the support vessel business model is to switch to offshore wind turbine support AND run their ships on biofuels. Otherwise, they are TOAST.
(http://www.pic4ever.com/images/mog.gif)
Title: Re: Money
Post by: AGelbert on March 09, 2016, 09:33:56 pm
DSME Posts Record $4.3 Billion Loss in 2015

March 7, 2016 by Bloomberg
By Kyunghee Park

(Bloomberg) — Daewoo Shipbuilding & Marine Engineering Co., the world’s second-biggest shipbuilder, posted a record loss last year as it wrote down more charges from offshore projects under construction.

The net loss including minority interests totaled 5.13 trillion won ($4.3 billion) in 2015, compared with profit of 33 billion won a year earlier, the Seoul-based company said in a regulatory filing Monday. Sales fell 23 percent to 13 trillion won.
Daewoo Shipbuilding is among global shipyards that were driven to losses in 2015 after a foray into construction of floating drilling and production units coincided with a plunge in oil prices to the lowest levels in more than a decade. The company, the worst performer in 2015 among stocks on the Kospi 200 Index, has said it aims to post a profit this year given that most offshore projects in which it has incurred losses are expected to be delivered in 2016.

“Earnings are expected to turn around this year as more high-valued gas carriers are built,” Daewoo Shipbuilding said in an e-mailed statement. “The company has sufficiently set aside provisions that will eliminate any uncertainties.”   ;)


Annual Loss

Shares of Daewoo Shipbuilding rose 14 percent to close at 6,040 won Monday before the results. The stock has fallen about 70 percent in the past year, compared with a 2.7 percent decline in the benchmark Kospi index.

Daewoo Shipbuilding posted a full-year operating loss of 5.51 trillion won, compared with profit of 471.1 billion won in 2014.

The fourth-quarter net loss including minority interests narrowed to 979.8 billion won from a loss of 1.69 trillion won in the third quarter, the company said. Daewoo Shipbuilding posted an operating loss of 973.3 billion won in the three months, narrowing from 1.45 trillion won in the third quarter.

Oil prices have dropped more than 30 percent  ;D over the past year amid volatility in global markets, brimming U.S. crude supplies and an expectation of increased supply from Iran. That prompted oil companies, such as Statoil ASA and Royal Dutch Shell Plc, to cut spending and led rig owners to cancel orders or ask for delivery delays.

Brent traded at $39.35 a barrel as of 2:48 p.m. in Singapore Monday.
Ship Fund

The South Korean government said in December it plans to work with banks to set up a $1.2 billion fund to help local shipping companies pay for new vessels they’ve ordered, according to the Ministry of Oceans and Fisheries. The government also will push shipyards to downsize and focus on their core businesses, and will seek to close or sell yards that can’t survive on their own.

Major creditors Korea Development Bank and Export-Import Bank of Korea pledged in October to provide 4.2 trillion won to Daewoo Shipbuilding in loans and equity. The company also plans to raise 750 billion won by selling non-core assets such as its headquarters building and a golf course.

The creditors’ due diligence found that Daewoo Shipbuilding could face a severe cash shortage in the first half of this year, but that could ease as the shipyard receives payments on drill ships it will deliver, Korea Development Bank said in October.

© 2016 Bloomberg L.P
https://gcaptain.com/dsme-posts-record-4-3-billion-loss-in-2015/
Title: Re: Money
Post by: AGelbert on March 13, 2016, 07:42:09 pm
DSME (Daewoo Shipbuilding & Marine Engineering - second largest ship builder in the world) Says 12,000 Job Cuts Coming


March 10, 2016 by gCaptain

South Korea’s Daewoo Shipbuilding & Marine Engineering will cut 12,000 jobs from its workforce by 2019 as it tries to revive its business following a crash in oil prices and severe downturn in the offshore oil and gas sector.

“We are planning to reduce the number of employees to a similar level to 2009 and 2010 when management efficiency was the highest,” DSME CEO Jung Sung-leep said in a press conference at the firm’s headquarters in Seoul, the Korean Herald reports.

DSME’s current workforce is about 42,000.


The shipbuilder said the job cuts will occur gradually over the next few years, versus a radical slash in headcount, the Herald reported.

Earlier this week DSME, the world’s second-biggest shipbuilder, posted a record loss totaling $4.3 billion in 2015 as it wrote down more charges from offshore projects under construction.

A crash in oil prices over the past 18 months has caused DSME customers particularly within the offshore oil and gas sector to cancel or postpone orders.

https://gcaptain.com/dsme-says-12000-job-cuts-coming/

(http://www.freesmileys.org/smileys/smiley-forum/popcorn.gif)
Title: Re: Money
Post by: AGelbert on March 15, 2016, 07:34:13 pm
Sure, people try to maintain a facade of normalcy, but when certain possessions start to show up for sale on Craigslist, you know the Oil Bidness is hurtin'.

(http://images.craigslist.org/00i0i_3wQEcxvGyXk_600x450.jpg)
1954 Vincent Black Shadow, for sale...only $89,000.

https://austin.craigslist.org/mcy/5473429099.html (https://austin.craigslist.org/mcy/5473429099.html)

Hmmmm. I have been lulled into thinking Heinous Houston was just an oil town...Shame on me. I had no idea they were so highly involved in the product advertising business.

I can tell by the obviously truthfully stated market value of the above internal combustion machine two wheeler that the Houstonites are every bit as ethical at marketing as they are at acquiring, exploiting and delivering fossil fuels.

I expect to see more bargains from the Houstonites soon (see below).

(http://socialmedianz.com/wp-content/uploads/2012/07/misleading-car-sale.jpg)
(http://www.createaforum.com/gallery/renewablerevolution/3-100115191314.jpeg)
Title: Re: Money
Post by: AGelbert on March 15, 2016, 10:33:10 pm
(http://www.freesmileys.org/emoticons/emoticon-object-106.gif) Island Offshore Lays Up Two More platform supply vessels as North Sea Lay Ups Top 100 Vessels

March 14, 2016 by gCaptain 

(http://maritimt.com/images/stories/nyheter/omtaler/2014/08/island_dragon.jpg)

Photo: Island Dragon / Credit: Island Offshore

Island Offshore has announced the lay ups of its two platform supply vessels (PSVs), Island Dragon and Island Duchess, effectively immediately, pushing the total number of offshore vessel layups in the North Sea to 100 vessels.

The Island Dragon will be replaced with Island Commander on the request on oil company Lundin Norway, which needs a vessel with larger deck capacity. Lundin has been using Island Dragon since June 2014.

“The situation in the spot market is still fragile and we cannot justify letting Island Dragon operate in this market. This means that we will have to lay her up indefinitely. As Lundin is an important customer to us, we want to be flexible to adapt to their change of needs. It is an implicit strength to be able to meet their requests,” stated Håvard Ulstein, managing director of Island Offshore Management AS.

Island Offshore said that it decided to lay up Island Duchess due to the low activity. The vessel, now in Ulsteinvik, has been in Las Palmas for some time, being available for jobs off the coast of Africa.

The company noted that it in talks with employee representatives regarding work force reductions.

Island Offshore has four PSVs in layup, as well as three LWI vessels and one ROV/construction vessel in winter layup. The company’s two of the LWI vessels have started to mobilize for this year’s campaign for Statoil.

The lay-up of Island Dragon pushed number of laid-up offshore vessels in the U.K. and Norwegian sectors of the North Sea to 100 vessels, according to the Norwegian brokering firm Westshore Shipbrokers.

Westhore reported Monday that the Sol Viking and Freyja Viking, part of the Viking Offshore fleet, have also been laid up, growing the total number of lay-ups to 102, according to Westshore.

https://gcaptain.com/island-offshore-lays-up-two-more-psvs-as-north-sea-lay-ups-tops-100-vessels/
Title: Re: Money
Post by: AGelbert on March 17, 2016, 08:13:37 pm

Is Your Mutual Fund a Climate Change Denier or Climate Champion? (http://www.desismileys.com/smileys/desismileys_6656.gif) (http://www.desismileys.com/smileys/desismileys_1730.gif) ??? (http://www.desismileys.com/smileys/desismileys_1402.gif)

Rob Berridge and Jackie Cook | March 15, 2016 11:30 am

(http://ecowatch.com/wp-content/uploads/2016/03/mutualfundchart750.jpg)

full article: (http://www.pic4ever.com/images/reading.gif)

http://ecowatch.com/2016/03/15/mutual-fund-climate-change/
Title: Re: Money
Post by: AGelbert on March 17, 2016, 08:36:04 pm
Emissions Levels No Longer Connected to Economic Growth, IEA Says

Global energy-related greenhouse gas emissions flatlined for the second year in a row while the global economy continued to grow, according to new data from the International Energy Agency. “Coming just a few months after the landmark COP21 agreement in Paris, this is yet another boost to the global fight against climate change,” said IEA director Fatih Birol.

Renewable power played a “critical role” in stabilizing emissions levels,
as more than 90 percent of new generation last year came from renewables, the highest level since 1974.

Energy emissions leveled out in 2014, the first time in 40 years that the economy has grown while emissions have not.
Quote
"This means the decoupling of global emissions and economic growth is now confirmed,"
said Birol. (Financial Times $, AFP, Climate Home)

Decoupling of global emissions and economic growth confirmed (http://www.iea.org/newsroomandevents/pressreleases/2016/march/decoupling-of-global-emissions-and-economic-growth-confirmed.html)
Title: Re: Money
Post by: AGelbert on March 20, 2016, 04:35:19 pm
The author of this piece on Negative Interest Rate Policy (NIRP) refers to the line above as "The First Law of Holes". I like that.

His conclusion, that at some point the central banks will discover NIRP doesn't work, and that a paradigm shift will occur in monetary policy overnight, is an interesting idea to consider. He says we should be ready for that to happen.

I don't know if he's right, but I hope he is. For a while now, the banks have been lending long term at very low rates, while borrowing short term.  This is a recipe for bankruptcy, under ordinary conditions. But of course, the banks have the government to bail them out....they hope.

http://www.zerohedge.com/news/2016-03-20/nirp-hail-mary (http://www.zerohedge.com/news/2016-03-20/nirp-hail-mary)

The author of this piece on Negative Interest Rate Policy (NIRP) refers to the line above as "The First Law of Holes". I like that.

First time I encountered this quote is was in something the much missed Molly Ivins wrote about the Texas Lege.

NIRP is like the selective application of the law of gravity. It is impossible unless you create a "real world" where, uh, see the queen in Alice in Wonderland.

At any rate, NIRP is BULLSHIT BECAUSE, even if the banks claimed they were applying it, they would only do so, like the 16 trillion dollars or so the "Federal Reserve" GAVE AWAY to the bankrupt banks on OUR DIME, selectively.

The REAL hole, that continues to be dug by the most influential homo saps hither and yon, is making up double talk that labels an economically subtractive process as an "additive" one.  (http://www.createaforum.com/gallery/renewablerevolution/3-311013201314.png)
(https://upload.wikimedia.org/wikipedia/en/1/1c/DisneyQueenHearts.jpg)


https://youtu.be/hycank4AxBo
  (http://www.createaforum.com/gallery/renewablerevolution/3-100216204839.gif)



Title: Re: Money
Post by: AGelbert on March 20, 2016, 07:35:07 pm
THE LIE WE LIVE (http://www.createaforum.com/gallery/renewablerevolution/3-041115022304.png)

https://youtu.be/ipe6CMvW0Dg
Title: Re: Money
Post by: AGelbert on March 21, 2016, 04:13:25 pm
   
(http://memecrunch.com/meme/5L3XX/spiderman-bullshit-detector/image.jpg?w=544&c=1)
Companies  (http://www.createaforum.com/gallery/renewablerevolution/3-311013201314.png) haven’t fudged their numbers this much since the financial crisis

Almost all of the companies in the S&P 500 (GSPC) have announced their quarterly earnings, and now Wall Street’s number crunchers are finalizing their conclusions as to what actually happened during the last three months of 2015.

Unfortunately, it’s become an increasingly challenging (http://pm1.narvii.com/5869/6a64193d6770c3afd17406c78686c0eda32ded1c_hq.jpg) task to understand the true financial performance of the big publicly traded companies because of the widening of something called the “GAAP gap.”

Don’t worry: this topic isn’t as scary a concept as it sounds.

(http://www.createaforum.com/gallery/renewablerevolution/3-210316151047.png)

In a nutshell, there’s a standard known as generally accepted accounting principles, or GAAP, which encourages some uniformity in how companies will report financial results. Unfortunately, the strict standards of GAAP often force companies to report big one-time, non-recurring items that will distort quarterly earnings, in turn making them a poor reflection of underlying operations. And so, many companies will make adjustments for these items and separately report adjusted or non-GAAP financial results. (Read more about it here and here. - at article link below)

All of that’s well and good. But there’s an unsettling trend we’ve been witnessing: the gap between GAAP and non-GAAP numbers is widening. Specifically, this “GAAP gap” is widening in such a way that more and more costs and expenses are being removed to make underlying profits look higher.

“The gap between GAAP (reported) and pro forma (adjusted) EPS continued to widen in 4Q, with the GAAP/Pro forma ratio of 0.74 still at its most extreme levels since 2009,” Bank of America Merrill Lynch’s Savita Subramanian said on Monday. “Trailing four-quarter (2015) GAAP EPS came in at $87 vs. $118 for pro forma EPS.”

It’s jarring to hear that any metric has returned to levels last seen during the financial crisis. Unfortunately, it’s hard to conclude what the implications are here because the issues are tied to just a few industries that are facing their own unique issues.

“As was the case last quarter, the chief contributor to “GAAP gap” has been Energy asset impairments/write-downs, followed by M&A costs within Health Care,” Subramanian continued. “The Energy sector alone contributed to nearly half of the “GAAP gap” this quarter.”

While this is certainly a top worth keeping an eye on, it would probably be a mistake to jump to any sweeping conclusions about the market and the economy.  (http://www.pic4ever.com/images/290.gif)  ;)   (http://www.createaforum.com/gallery/renewablerevolution/3-311013201314.png)

“We found that while a widening GAAP gap is not a leading indicator of a market downturn, companies with increasing deviations tend to systematically underperform the market,” Subramanian said.

--
Sam Ro is managing editor at Yahoo Finance.

http://finance.yahoo.com/news/sp500-stocks-accounting-earnings-gaap-gap-financial-crisis-142105046.html

IN OTHER WORDS...

(http://cdn.images.express.co.uk/img/dynamic/23/183x122/633968_1.jpg)
Title: Re: Money
Post by: AGelbert on March 26, 2016, 05:27:58 pm
12 Oil Gas & Consumable Fuels Stocks to Sell Now

By Portfolio Grader | Mar 25, 2016, 9:45 am EDT

SNIPPET:

This week, the overall grades of 12 Oil Gas & Consumable Fuels stocks are lower, according to the Portfolio Grader database. Each of these rates a “D” (“sell”) or “F” overall (“strong sell”).

http://investorplace.com/2016/03/12-oil-gas-consumable-fuels-stocks-to-sell-now/
Title: Re: Money
Post by: AGelbert on March 28, 2016, 02:04:14 am
THE FAILURE OF CAPITALISM - (Paul Craig ROBERTS (http://www.clipartbest.com/cliparts/xig/ojx/xigojx6KT.png) Debates Stefan MOLYNEUX  (http://www.pic4ever.com/images/www_MyEmoticons_com__burp.gif))

https://youtu.be/PQqs6Smw4vc

Title: Re: Money
Post by: AGelbert on March 29, 2016, 10:10:46 pm
‘Days of Revolt’: Chris Hedges, Michael Hudson Discuss How We Got to Junk

Economics (Video)

Posted on Mar 24, 2016

In this episode of teleSUR’s “Days of Revolt,” Chris Hedges interviews Michael Hudson on the history of classical economics and explores Marx’s interpretation of capitalism as exploitation.

Hudson  (http://www.pic4ever.com/images/19.gif)is a professor of economics at the University of Missouri-Kansas City and author of “Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy.” Before becoming a professor, Hudson worked for many years on Wall Street.

Quote
“The essence of classical economics was to reform industrial capitalism, to streamline it, and to free the European economies from the legacy of feudalism,”
Hudson said.
Quote
“The legacy of feudalism was landlords extracting land-rent, and living as a class that took income without producing anything.”

Wall Street and the big-banking system have inverted classical economics. America is now over $19 trillion in debt, and the Congressional Budget Office projects that the debt will rise to $26.3 trillion by 2020. How did we get to this point?  ???

“So we’ve turned the postwar economy that made America prosperous and rich inside out,” Hudson explained. “Somehow most people believed they could get rich by going into debt to borrow assets that were going to rise in price. But you can’t get rich, ultimately, by going into debt.

In the end, the creditors always win.That’s why every society since Sumer and Babylonia has had to either cancel the debts, or you come to a society like Rome that didn’t cancel the debts, and then you have a dark age. Everything collapses.”

Watch Part I of the interview, posted by The Real News, below.

https://youtu.be/m4ylSG54i-A

http://www.truthdig.com/avbooth/item/days_of_revolt_how_we_got_to_junk_economics_video_20160324

Agelbert NOTE:
One of the most salient features of our upside down world of neoliberal economics, as Hudson points out, is the fact that Classical Economics states that RENTIER (i.e. UNEARNED income) is supposed to heavily taxed while EARNED income from wages is NOT supposed to be taxed.
This is because rentier income is a de facto parasitic type of income that does not produce "job creators" as is claimed by those parasites in our Wall Street Orwellian world.

Furthermore, virtually ALL of the improvements in an economy actually come from those with EARNED income.

Classical Economics has been turned on its head. THAT is why the wealth transfer from those who work to the rentier parasites is destroying the economy.

And no, they are NOT reinvesting the capital accumulated in plant and equipment, as they claim; they are asset stripping absolutely every productive part of the economy in a mindless rampage of stupidity and greed. (http://www.pic4ever.com/images/126fs2277341.gif)

(https://s-media-cache-ak0.pinimg.com/736x/61/45/95/614595ac6fffdb343dd8c80f60a45f78.jpg)
Title: Re: Money
Post by: AGelbert on April 02, 2016, 08:43:25 pm
(http://s0.geograph.org.uk/photos/78/55/785504_c6424494.jpg)
No Sales, No Profits, No Bull: When Valuations And Central Banks Collide

There is trouble ahead with today's overvalued market

Apr 2, 2016, 9:00 am EDT | By Gary Gordon, President, Pacific Park Financial

SNIPPET:

Total business sales – sales by wholesalers, manufacturers and retailers – have fallen 5% from their July 2014 peak of $1.365 billion. At $1.296 billion for January 2016, total business sales have dropped back to where they were in January of 2013 ($1.293 billion). In fact, the erosion of total sales by American businesses are even uglier when one takes inflation into account.

http://investorplace.com/2016/04/no-sales-no-profits-no-bull-valuations-central-banks-collide/

(https://claremwright.files.wordpress.com/2015/05/trouble-ahead-4fc8facebf9c7_hires.jpg)
Title: Re: Money
Post by: AGelbert on April 02, 2016, 08:59:47 pm
Agelbert NOTE: The Russians are making SURE the price of crude does not rebound any time soon. I guess this is the latest "message" from them to our fossil fuel government. At any rate, it is further evidence that the fossil fuelers in Russia, like those everywhere else, DO NOT CARE about the climate catastrophe we are entering.  >:(

Sat Apr 2, 2016 11:50am EDT

Related: Russia, Global Energy News

Russian oil output highest in 30 years  :o   :( ahead of Doha meeting

MOSCOW | By Vladimir Soldatkin

A worker checks the valve of an oil pipe at the Lukoil company owned Imilorskoye oil field outside the West Siberian city of Kogalym, Russia, January 25, 2016.
Reuters/Sergei Karpukhin

Russia's oil production rose 0.3 percent to 10.91 million barrels per day in March, its highest level in nearly 30 years, raising questions over Moscow's commitment to freeze output ahead of a producers' meeting in Doha later in April.

Energy Ministry data on Saturday showed that in tonnes, oil output reached 46.149 million in March versus 43.064 million, or 10.88 million bpd, in February.
Leading oil producers, including Russia, are due to meet in Doha on April 17 for talks on how to freeze oil output at the average levels reached in January to support the global market.

But the increase in Russian output to levels not seen since 1987, when it reached a record high of 11.47 million bpd, suggests it may prove difficult for Moscow to stick to oil output freeze commitments.

Russian Energy Minister Alexander Novak said the March production would not be an obstacle to the expected agreement on a production freeze, local news agencies reported.

Related Coverage

 Russia says oil output increase will not hamper production deal
;)   (http://www.pic4ever.com/images/4fvfcja.gif) : agencies

Some oil industry observers said that it would be hard for Russia to stick to an output freeze since the domestic industry is dominated by several big oil companies, such as Rosneft (ROSN.MM), Gazprom (GAZP.MM) and Lukoil (LKOH.MM), each with their own agenda.   (http://www.pic4ever.com/images/acigar.gif)    (http://www.createaforum.com/gallery/renewablerevolution/3-200714191329.bmp)

The latest production statistics showed that companies, categorised by the ministry as "small producers" were behind the higher production total, with an increase of 1.5 percent to 4.92 million tonnes (1.16 million bpd) in March.

An 11.9 percent rise in output from joint ventures with foreign oil companies also contributed to the increase in the total production figure. Oil output under these production sharing agreements, designed in the 1990s to encourage investment by foreign oil companies, rose to 1.51 million tonnes (357,000 barrels per day) last month.

Output from major Russian oil companies fell last month, lead by a 0.7 percent output decline at world's biggest listed oil producer Rosneft. Output at Lukoil and Surgutneftegaz (SNGS.MM) edged down by 0.1.

Rosneft has said it plans to keep production unchanged this year after it fell by 1 percent in 2015.

The data also showed that Russian pipeline oil exports rose to 4.45 million bpd last month from 4.31 million bpd in February.

Natural gas production was at 53.98 billion cubic metres (bcm) last month, or 1.74 bcm a day, versus 52.92 bcm in February.

(Reporting by Vladimir Soldatkin. Editing by Jane Merriman)

http://www.marketbeat.com/stories.aspx
Title: Re: Money
Post by: AGelbert on April 03, 2016, 05:06:19 pm
In one my "go back to college and learn new stuff" phases, I took two years of Biz Admin courses, including a lot of boring accounting. One of the things I learned (accounting was not taught as a creative Wall Street exercise in college in the 1970s -unless you were in elite colleges, of course   (http://www.createaforum.com/gallery/renewablerevolution/3-200714191329.bmp)) was that there is an accounting rule of thumb for RESIDENTIAL PROPERTY PRICES.

RESIDENTIAL PROPERTY PRICES are a function NOT of the interest rate, NOT of the required monthly payment and NOT even of the present value of the monetary unit and inflation. There IS a MINIMUM price due to materials cost and labor cost and land property taxes. BUT THAT IS THE MINIMUM.

ANY premium above THAT is figured by multiplying, for an average dwelling like that of a middle class coal miner, the average annual salary by 2.5. So, if the average salary is $80,000 a year, the average house in good condition can be "valued" at $200,000.

Another rule of thumb that limits the above "value" (before Wall Street started lying through their teeth about GAAP in the late 1990s) is the monthly payment. No monthly payment should exceed 25% a month of the NET after taxes income.

What I am trying to say, is that, regardless of what you may hear or believe, a HOUSE is worth NO MORE than 2.5 times the average annual salary in any given area. Wyoming home prices, like those of most middle class homes all over the USA, will go down in price. Of course the assessment assholes for the towns will do their damnedest to keep the "valuations" inflated. And the Fed will do its damnedest to goose inflation for the poor and middle class while keeping it at zero or LESS for the rich. But eventually, because both those pricing mechanisms are parasitical, they will not work to buttress home "values".


The ONLY thing that will work to sustain and/or raise home "values" is HIGHER WAGES, PERIOD.

I don't see that happening any time soon.

Home pricess are in for a reality check. The Wall Street Bankster based BULLSHIT is over.

MESSAGE TO WALL STREET BANKSTERS:


  (http://www.createaforum.com/gallery/renewablerevolution/3-230815160919.gif)


Title: Re: Money
Post by: AGelbert on April 03, 2016, 08:55:41 pm
Half of Capesize Bulk Carrier Deliveries Pushed Back, VesselsValue Says

March 31, 2016 by gCaptain
   
(http://gcaptain.com/wp-content/uploads/2013/09/shutterstock_132087083.jpg)
Photo credit: Shutterstock/tcly

Exactly half of the newbuild capesize bulkers due for delivery in the first quarter of 2016 have been pushed back as owners react to the poor state of the global dry bulk market, according to the maritime data experts at VesselsValue.

Senior Data Editor for VesselsValue, Craig Jallal, has been searching through their database and has found that orders where deliveries have been pushed back, known as orderbook slippage, is increasing.

“Capesize owners are feeling the pain of the dire freight market, and have reacted accordingly,” Vessels said in an emailed statement to gCaptain.
(http://www.createaforum.com/gallery/renewablerevolution/3-020416182142.jpeg)

According to VesselsValue, some 28 capesize bulk carriers were due to join the global fleet in the first quarter this year, but delivery of 14 of these has been pushed back to later in the year or beyond. In fact only four of the 28 vessels due for delivery in Q1 were actually delivered, with 9 launched and 1 cancelled.

Looking at dry bulk vessels as a whole, the total number of bulkers due for delivery in Q1 2016 was 290, with 121 deliveries pushed back, 90 delivered and 24 cancelled.

https://gcaptain.com/half-of-capesize-bulker-deliveries-pushed-back/
Title: Re: Money
Post by: AGelbert on April 08, 2016, 03:38:17 pm
The Marshall Islands TOO?!!!  ???

(http://www.createaforum.com/gallery/renewablerevolution/3-080416030758.jpeg)
(http://www.freesmileys.org/emoticons/emoticon-object-106.gif) Panama Papers reveal London as centre of 'spider's web'   (http://www.freesmileys.org/emoticons/tuzki-bunnys/tuzki-bunny-emoticon-028.gif)

Updated 07 Apr 2016 07:40

LONDON: (http://www.freesmileys.org/emoticons/emoticon-animal-027.gif) While shining a spotlight on the secret financial arrangements of the rich and powerful, the so-called Panama Papers have laid bare London's role as a vital organ of the world's tax-haven network.     (http://www.pic4ever.com/images/2z6in9g.gif)(http://www.pic4ever.com/images/acigar.gif)  (http://www.freesmileys.org/smileys/smiley-devil12.gif)

The files leaked from Panama law firm Mossack Fonseca exposed Britain's link to thousands of firms based in tax havens and how secret money is invested in British assets, particularly London property.

Critics accuse British authorities of turning a blind eye to the inflow of suspect money and of being too close to the financial sector to clamp down on the use of its overseas territories as havens, with the British Virgin Islands alone hosting 110,000 of the Mossack Fonseca's clients.

(http://www.channelnewsasia.com/blob/2672156/1459968082000/tax-havens-and-financial-data.jpg)
The Tax Justice Network's Financial Secrecy Index. (AFP/Jean Michel Cornu, Alain Bommenel)

"London is the epicentre of so much of the sleaze that happens in the world," Nicholas Shaxson, author of the book "Treasure Islands", which examines the role of offshore banks and tax havens, told AFP.

The political analyst said that Britain itself was relatively transparent and clean, but that companies used the country's territories abroad - relics of the days of empire - to "farm out the seedier stuff", often under the guise of shell companies with anonymous owners.

"Tax evasion and stuff like that will be done in the external parts of the network. Usually there will be links to the City of London, UK law firms, UK accountancy firms and to UK banks," he said, calling London the centre of a "spider's web".

"They're all agents of the City of London - that is where the whole exercise is controlled from," Richard Murphy, professor at London's City University, said of the offshore havens.

CAPITAL OF 'FUNNY MONEY'

The files showed that Britain had the third highest number of Mossack Fonseca's middlemen operating within its borders, with 32,682 advisers.

Although not illegal  ;) in themselves  ;), shell companies can be used for illegal activities such as laundering the proceeds of criminal activities or to conceal misappropriated or politically-inconvenient wealth.

Around 310,000 tax haven companies (http://www.createaforum.com/gallery/renewablerevolution/3-311013200859.png)
own an estimated £170 billion (US$240 billion) of British real estate, 10 per cent of which were linked to Mossack Fonseca.

The files appeared to show that the United Arab Emirates President Sheikh Khalifa bin Zayed Al-Nahyan owned London properties worth more than £1.2 billion (US$1.7 billion) and that Mariam Safdar, daughter of Pakistani prime minister Nawaz Sharif, was the beneficial owner of two offshore companies that owned flats on the exclusive Park Lane.

The revelations undermined promises by British Prime Minister David Cameron to clear up the murky world of offshore finance and its proceeds.

"Every few years London pretends  (http://2.bp.blogspot.com/_9HT4xZyDmh4/TOHhxzA0wLI/AAAAAAAAEUk/oeHDS2cfxWQ/s200/Smiley_Angel_Wings_Halo.jpg) to 'clean up its act'," wrote columnist Simon Jenkins in the capital's Evening Standard newspaper. "Most world cities are ruthless against foreigners who arrive with suitcases of cash to buy property or other businesses. Not London," he added. "It is awash in 'offshore' towers overlooking the Thames."

(http://ecx.images-amazon.com/images/I/51S0dnHrwSL._AC_UL320_SR212,320_.jpg)

Conspicuous displays of foreign wealth  (http://www.pic4ever.com/images/acigar.gif) are common around the British capital from the lavish statues outside the mansions of Russian oligarchs to the fleet of Lamborghinis raced by Middle Eastern princelings around the streets of plush Knightsbridge.

London's reputation as the "capital of funny money" - so-called by Jenkins - is closely related to its legitimate attraction as a financial centre, with its  light-touch regulation, laissez-faire attitude towards wealth, vibrant culture and history of global trading  (http://www.pic4ever.com/images/pirates5B15D_th.gif), said Shaxson.

(https://s-media-cache-ak0.pinimg.com/236x/a7/bb/b7/a7bbb7d3239a2c616dc3176f920e9c3f.jpg)

(https://s-media-cache-ak0.pinimg.com/236x/05/0d/f0/050df05455b8bb02b6024b47b01e176a.jpg)

'WILD ANIMALS'

"London has been a crossroads for the world's money for centuries," he explained. "When the British empire collapsed, London swapped being the governor of the imperial engine to being an offshore island and allowing money to come with no questions asked," he added.

With public pressure mounting, Murphy said Britain had the power to legislate directly on its overseas territories, but the lobbying power of the financial sector and worries about upsetting the jewel in Britain's economic crown were holding back efforts.

"The City of London seems to believe that without these conduits, then it would not have the competitive edge that it needs," he said. "The financial institutions have become like wild animals," added Shaxson.

"It's the government's responsibility to stop this nonsense. The government has been captured by the banking establishment and some way has to be found for that to be broken. British politicians feel they can't do anything."   (http://www.createaforum.com/gallery/renewablerevolution/3-051113192052.png)


- AFP/de

http://www.channelnewsasia.com/news/world/panama-papers-reveal/2672152.html

Agelbert NOTE:
NOW you KNOW why there is NEVER "any money" for we-the-sheeple...

(https://s-media-cache-ak0.pinimg.com/236x/3d/7c/d6/3d7cd602c221ace3ab1b0c5006999185.jpg)

(http://www.finalcall.com/artman/uploads/1/FCN2935_cvr300x225_1.jpg)
(http://graysondemocrats.org/wp-content/uploads/2011/05/end-oil.jpg)

Title: Re: Money
Post by: AGelbert on April 12, 2016, 07:51:52 pm
(http://image.blingee.com/images17/content/output/000/000/000/6a0/604681651_739399.gif)

Smart Parasites   (http://www.pic4ever.com/images/acigar.gif)

By Michael Hudson    (http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png)

Monday, March 21, 2016

http://michael-hudson.com/2016/03/smart-parasites/


Agelbert NOTE: If you digested properly the Hard Truths laid out by Professor Hudson, you will better "understand" the reason(s) for Some recent WRIST SLAPS where NOBODY GOES TO JAIL and the fines are LESS THAN THE PROFITS from CORPORATE CRMINAL ACTIVITY in FASCIST AMERICA:

(http://3.bp.blogspot.com/-F66PxaSGNyM/UsVwtcJMdRI/AAAAAAAA9uE/2t2MW9yYTrw/s1600/11shark-lawyers.gif)

Money | Mon Apr 11, 2016 5:16pm EDT

Related: Money, Regulatory News, Breakingviews

Goldman Sachs to pay $5 billion in U.S. Justice Dept mortgage bond pact
By Suzanne Barlyn

SNIPPET:

Goldman Sachs Group Inc (GS.N) has agreed to pay $5.06 billion to settle claims that it misled mortgage bond investors during the financial crisis, the U.S. Department of Justice said on Monday.

(https://media.licdn.com/mpr/mpr/jc/AAEAAQAAAAAAAAKcAAAAJDAwZGZkZjM2LTRlMDktNDNmMi1hNmE0LWY4ZWMzMWRlMmNiNw.jpg)
(http://www.pic4ever.com/images/mocantina.gif)

The settlement, which Goldman disclosed in January, stems from the firm's conduct in packaging, securitization, marketing and sale of residential mortgage-backed securities between 2005 and 2007, the Justice Department said.

Investors suffered billions of dollars in losses from the securities bought during the period, the department said.

http://www.marketbeat.com/stories.aspx?story=http%3a%2f%2ffeeds.reuters.com%2f%7er%2freuters%2fbusinessNews%2f%7e3%2fAuEpae70nbM%2fus-tesla-recall-idUSKCN0X8235


Wells Fargo to Pay $1.2 Billion in Mortgage Settlement

By LIZ MOYER FEB. 3, 2016

SNIPPET:

Wells Fargo has agreed to pay $1.2 billion to put to rest claims that it engaged in reckless lending under a Federal Housing Administration program that left a government insurance fund to clean up the mess.

Agelbert NOTE: Graphical Translation Below:

FOR WELLS FARGO:
(https://media.licdn.com/mpr/mpr/jc/AAEAAQAAAAAAAAKcAAAAJDAwZGZkZjM2LTRlMDktNDNmMi1hNmE0LWY4ZWMzMWRlMmNiNw.jpg)


FOR WE-THE-PEOPLE:
(http://www.createaforum.com/gallery/renewablerevolution/3-140415130805.png)

The bank, which is the nation’s largest mortgage lender, has been in talks with the government since 2012 over accusations that it improperly classified some F.H.A. loans as qualifying for federal insurance when they did not, and that it knew of the misclassification but failed to inform housing regulators about the deficiencies before filing insurance claims.

Wells Fargo, based in San Francisco, had been a holdout among large lenders. Citigroup, Bank of America and JPMorgan Chase all previously settled ;) (http://www.createaforum.com/gallery/renewablerevolution/3-311013200859.png) similar claims.

The settlement means Wells Fargo has to reduce 2015 profit by $134 million to account for the extra legal expense.  ;)  (http://www.createaforum.com/gallery/renewablerevolution/3-220216203149.gif)

http://www.nytimes.com/2016/02/04/business/dealbook/wells-fargo-to-pay-1-2-billion-in-mortgage-settlement.html

(http://www.createaforum.com/gallery/renewablerevolution/3-021114150033.png)
Title: Re: Money
Post by: AGelbert on April 16, 2016, 03:53:55 pm
'Let them sell their summer homes'  ;D: NYC pension dumps hedge funds

  (http://www.pic4ever.com/images/5yjbztv.gif)

Thu Apr 14, 2016 7:05pm EDT 

NEW YORK | By Edward Krudy

New York City's largest public pension is exiting all hedge fund investments in the latest sign that the $4 trillion public pension sector is losing patience with these often secretive portfolios at a time of poor performance and high fees.

The board of the New York City Employees Retirement System (NYCERS) voted to leave blue chip firms such as Brevan Howard and D.E. Shaw after their consultants said they can reach their targeted investment returns with less risky funds.

The move by the fund, which had $51.2 billion in assets as of Jan. 31, follows a similar actions by the California Public Employees' Retirement System (Calpers), the nation's largest public pension fund, and public pensions in Illinois.

"Hedges have underperformed, costing us millions," New York City's Public Advocate Letitia James told board members in prepared remarks. "Let them sell their summer homes and jets, and return those fees to their investors."

The move is a blow to the $3 trillion hedge fund industry   (http://www.pic4ever.com/images/www_MyEmoticons_com__smokelots.gif)  (http://www.pic4ever.com/images/245.gif) where managers  (http://www.pic4ever.com/images/pirates5B15D_th.gif) like to have pensions as investors because they leave their money in for longer than individuals, sending a signal of stability to other investors.

Hedge fund returns have been lackluster for some time. The average fund lost about 1 percent last year when the stock market was flat, prompting institutional investors to leave.

Research firm eVestment said investors overall pulled $19.8 billion from hedge funds in January, marking the biggest monthly outflow since 2009.

Performance at some of the funds with which New York City invested was far worse. Luxor Capital Group, a long-time favorite with many pensions, lost an average 18.3 percent a year for the last two years.

New York city's public pension system has five separate pension funds with individual governing structures. The system has total assets of $154 billion, with about $3 billion invested in hedge funds as of Jan. 31.

NYCERS had $1.7 billion invested in hedge funds at the end of the second quarter 2015, according to its financial report. That amounted to 2.8 percent of total assets and was the smallest portion of its 'alternative investments' portfolio, which included $8.1 billion in private equity.

Unaudited data from the city Comptroller's office showed NYCERS' hedge fund exposure was $1.4 billion as of Jan. 31.

Comptroller Scott Stringer, a trustee, said eliminating hedge funds would a help NYCERS construct a "responsible portfolio that meets our long-term investment objectives".

NYCERS paid nearly $40 million in fees to hedge funds  :o  >:(  during its 2015 financial year, while its hedge fund portfolio returned 3.89 percent over the year, according to its financial report.

"Hedge funds are charging exorbitant fees for high-risk and opaque investments," said James.

Public pensions started to invest heavily in hedge funds after the financial crisis in 2008-2009 to diversify their assets. A CEM Benchmarking survey of public pensions with a total of $2.4 trillion in assets found 5.2 percent of assets were invested in hedge funds in 2014, compared to 1 percent a decade earlier.

(additional reporting by Svea Herbst; Editing by Nick Zieminski)
http://www.marketbeat.com/stories.aspx?story=http%3a%2f%2ffeeds.reuters.com%2f%7er%2freuters%2fbusinessNews%2f%7e3%2f8TRRTTGIhQY%2fus-new-york-pensions-idUSKCN0XB1TE
Markets | Thu Apr 14, 2016 1:12pm EDT
Title: Re: Money
Post by: AGelbert on April 22, 2016, 11:21:46 pm

As y'all keep saying in here, the whole thing is rooted in debt, right?

No, it's rooted in Energy and control over Resources.  Debt is simply a means to distribute and control energy and resources.

RE

(http://photos1.blogger.com/blogger/5883/791/320/rj10.jpg)
Little John and Robin Hood are both well aware that it requires more energy to swim across the creek than to walk across the log. Little John wants to charge robin Hood for the energy that Little John expended to put that log there. There are issues of thermodynamics AND gate keeper control at work here. BUT, they are not equivalent BECAUSE, once Little John expended the energy to put that log over the creek, every subsequent crossing uses less energy, on the average, for humans to cross that creek. So THEN, it becomes an issue of CONTROL, not a 'fixed amount of money = fixed amount of energy' in BTUs, Joules per crossing or whatever.

I think it is MORE (MUCH MORE) rooted in gate keeper oligarchic control, even before Little John told Robin Hood he had to "pay" to cross over the creek on the log.

In 20 minutes, enough harvestable solar energy arrives from the sun to equal all the energy that all the human economies use in a year.

The only reason we all don't have access to it is NOT lack of knowledge of applied Renewable Energy Technology thermodynamics; it's because of gate keeping. So, there is an artificially fabricated "equivalence" between money and energy when we leave the thermodynamics realm of human powered devices and move to vehicles and power plants and other machines.

The amount of energy the sun expends every day to evaporate water out of lakes, rivers and oceans to deposit as rain is gargantuan. YET, we are not billed for this massive  sine qua non energy requirement of human survival (and most of the land biosphere too).

Every house in every temperate zone on planet earth can be cooled in summer with beam chillers. They cool just as quickly as air conditioners with less than 25% the energy demand because they do not require compressors. They are cheaper than air conditioners and, apart from a very small fan to create a slight pressure differential, have no moving parts and last over 30 years without maintenance.

They are becoming common now in Europe but are just getting started here. The reason is gate keeping, not thermodynamics.

Your point is valid WHEN we have truly efficient energy demand use in our technology in a distributed, democratic fashion. That, of course, will be fought tooth and nail by TBTB. We, of course, do not have that now.  (http://www.createaforum.com/gallery/renewablerevolution/3-200714183312.bmp)

Until then, beyond human powered vehicles and technology, the relationship between money and energy is gamed. The assumption that we "have to have" X barrels of oil per day or whatever to run our civilization is not based on energy thermodynamics; it's based on control.

We can run absolutely everything we do now cleanly and with 90% LESS energy use. Amory Lovins, an expert on energy in all forms, has said so and I believe him.

But I agree with you that our "civilization" has tried to make us believe we would all die with only 10% the energy output of the present. That view is based on the horrendously wasteful, inefficient and highly polluting fossil fuel based 'PRESENT energy use = money' meme.

A case in point is the fact that the energy use by the Americans in 2015 went down, even though GDP went up. This is a totally new phenomenon in our "civilization".    (http://us.cdn2.123rf.com/168nwm/lenm/lenm1201/lenm120100200/12107060-illustration-of-a-smiley-giving-a-thumbs-up.jpg)  We can do a lot more with a lot less energy use without being forced back to the caves.           (http://www.createaforum.com/gallery/renewablerevolution/3-260116191529.png)
Title: Re: Money
Post by: AGelbert on April 23, 2016, 12:05:32 am
Our real problem is an economic system that demands perpetual growth of corporate profits in order to be considered healthy.

How do you cut energy consumption 90% and not crash the economy, lose a lot of jobs and see asset prices drop precipitously?
It's the wrong question.

Let's say we do a great job of cutting consumption by 87.5% through elimination of waste.

Let's say, contrary to our fears, this triggers a new era of modest prosperity, with an average growth rate of 3.6%.

By the Rule of 72, that means doubling every 20 years, or in other words, all we have done is bought ourselves 60 years and we are back to where we started -- EXCEPT we will have gotten all the low-hanging fruit, and cutting consumption again by another 87.5% will be exceptionally difficult.

I'm all for eliminating waste, but it will ONLY make a serious difference AFTER the paradigm of perpetual growth has been thoroughly discredited.

Collapse/radical trasfigurative change is a mathematical certainty; the only questions are how long the can will successfully be kicked down the road before it happens, in what manner it will happen, and what will come out the other side.

Hear! Hear!     (http://us.cdn2.123rf.com/168nwm/lenm/lenm1201/lenm120100200/12107060-illustration-of-a-smiley-giving-a-thumbs-up.jpg)
Title: Re: Money
Post by: AGelbert on April 24, 2016, 05:11:05 pm
(http://new.postcarbon.org/wp-content/uploads/2014/01/pci-logo-v3.png)

Who Killed Economic Growth?  ???


https://youtu.be/EQqDS9wGsxQ

Quote
Richard Heinberg propose a startling diagnosis: humanity has reached a fundamental turning point in its economic history. The expansionary trajectory of industrial civilization is colliding with non-negotiable natural limits. (http://www.desismileys.com/smileys/desismileys_1593.gif)

** Please understand that we fit all we could into a five minute video. Yes, there are many issues and nuances left out. You'll find most addressed in the book from which this material was excerpted: http://www.endofgrowth.com***

"Why have mainstream economists ignored environmental limits for so long? If Heinberg is right, they will have much explaining to do." -- LESTER BROWN, Founder Earth Policy Institute

"Heinberg shows how peak oil, peak water, peak food, etc. lead not only to the end of growth, but to the beginning of a new era of progress without growth." -- HERMAN E. DALY, Professor Emeritus, School of Public Policy, University of Maryland

"By the time you finish Heinberg's book, you will have 2 conclusions: This is the end of economic growth and it is our problem, not our childrens'. It's time to get ready. This book is the place to start." --PAUL GILDING -- Former head of Greenpeace International

"Richard has rung the bell on the limits to growth. Our shift from quantity of consumption to quality of life is the great challenge of our generation. Frightening...but ultimately freeing." --JOHN FULLERTON - President and Founder, Capital Institute

Title: Re: Money
Post by: AGelbert on April 26, 2016, 07:28:52 pm
Economists like to say that prices (including rental prices) increase and decrease in relation to supply and demand.  Maybe this is true with some items in the economy, but what about real estate? Is it true there?

For example, after the last real estate bubble burst, with countless houses boarded up empty,  did home rental prices plummet dramatically?

On the relationship between housing prices, rent costs and median income

All real estate prices are a function of median wages in a geographic area. GAAP formerly used a rule of accounting "thumb" that no one should pay more than 25% of their gross monthly income for a mortgage payment or the rent. AND, a mortgage principle should NEVER exceed 2.5 times a household's annual gross income, NO MATTER HOW LOW THE INTEREST RATE).

Wall Street tried to game that formula by claiming that "food was cheaper" (crap processed food excluding future health issues   (http://www.createaforum.com/gallery/renewablerevolution/3-200714191329.bmp)) so it could go up to 36%.

Furthermore, the lowered interest rate (ARM rates, NOT locked 30 year rates during the 1990s and early 2000s) teasers fooled people into accepting a higher mortgage principle,  TOTALY unjustified by median income numbers. Rents were going up just as fast as mortgages on the FALSE assumption that "food was cheaper" and the FALSE assumption that "wages were increasing".

We now see the results of those Wall Street Bankster fun and games all around us. They are still trying to game people into a buying a property with a monthly payment up to 36 -38% of the person's gross income. They are still claiming houses "appreciate" while median incomes are ACTUALLY going down (They claim median income is "going up" by low balling actual inflation.   (http://www.createaforum.com/gallery/renewablerevolution/3-200714191329.bmp)).

Housing prices and rents will continue to go down. Inflation by the funny money folks at the Fed will try to mask that.

NEVER pay more than 25% of your gross for monthly rent or a mortgage payment unless you like imprudent speculation. Look at the median income in your area. Do some proper inflation math on it to see what it ACTUALLY is. THEN, figure 25% of that corrected monthly median income figure. THAT is the max you should pay for rent and the max you should pay a month PITI for a mortgage. And don't forget that your annual gross income multiplied by 2.5 is the MAX you should pay for the mortgage principle, regardless of how low the locked in 30 year interest rate is.

All the above applies to low and middle class. The rich parasite welfare queens live in their own speculative bidding world where prices are not a function of income, but of one upsmanship and status symbol, location , location, location stupidity.

They can only do that because they transfer wealth from the middle and lower classes. The alleged "job creators" are really asset stripping specialists. Now that we-the-people are about tapped out, the greedballs are starting on each other. ;D

But that doesn't mean they will stop doing what they do to the middle and lower classes.

Ignore any bullshit and hand wringing about materials costs and labor for house construction being "more important" than median income as function of property prices or rent. That's simply the base. Once basic costs exceed 25% of median income (2.5 times the annual median income), houses don't get built, PERIOD. Yes, the banksters tried to change the rules to 36-38%. That was a scam that too many idiots fell for.    (http://www.createaforum.com/gallery/renewablerevolution/3-200714183312.bmp)


The present U.S. median income, allegedly adjusted for inflation  ;), is about $53,000 a year. That means that household CAN NOT afford to buy a home that sells for one penny more than 2.5 times $53,000 = $132,500.

Realtors hyperventilate when they read that. The fact that prices have not descended to what houses are ACTUALLY WORTH is because the banks deliberately take a glut of properties OFF the market (see boarded up houses) to game the "supply".     (http://www.createaforum.com/gallery/renewablerevolution/3-200714191329.bmp)

Reality will assert itself. GAAP didn't come up with those numbers for most of the 20th century (until the banksters began their bullshit mortgages in the late 1990s) because they were being "too conservative".
Title: Re: Money
Post by: AGelbert on April 26, 2016, 09:32:20 pm
The Panama Papers: Laundering Havens for War Budgets (Video)

In mid-April, economist Michael Hudson told The Real News Network that global oil and mining industries and the U.S. State Department created Panama and Liberia for the express purpose of tax evasion.  (http://www.pic4ever.com/images/acigar.gif)  (http://www.pic4ever.com/images/2z6in9g.gif)

https://youtu.be/f0t1KXdeWbo

http://www.truthdig.com/avbooth/item/the_panama_papers_laundering_havens_for_war_budgets_video_20160425
Title: Re: Money
Post by: AGelbert on May 25, 2016, 08:16:59 pm
(http://www.carbontracker.org/wp-content/uploads/2015/12/Synthesis-infographic-01.png)

Fossil Fuel Investments Growing Riskier for Insurers, Report Warns

With nearly $500 billion invested, a new analysis recommends insurance companies take a harder look at the consequences of climate change and a lower-carbon future.

By Zahra Hirji
 
May 24, 2016

The 40 largest insurance companies in the United States have $237 billion invested in electric and gas utilities, $221 billion tied to oil and gas companies and nearly $2 billion locked into coal, a new report reveals.

With nearly a half-trillion dollars in bonds, equity and other holdings tied to the fossil fuel industry, an analysis published Tuesday by the sustainability group Ceres says insurers should be evaluating their investment exposure to climate change risks.

Insurers "cannot afford to overlook this," warned Cynthia McHale, director of the insurance program at Ceres.

According to McHale, insurers face a lot of uncertainty in damage payouts to customers, because they don't know when, how often or how large those payouts will be. To ensure they have enough money to respond, insurers have historically been very conservative in their investments—and that's usually meant a lot of investments in fossil fuel companies and utilities.

But these "carbon assets" are increasingly viewed as risky, she said. In the short term, major fluctuations in energy markets could put the value of these investments at risk.

In the long term, these assets could become obsolete if the world pivots away from fossil fuels in a bid to halt catastrophic climate change. According to a study published in Nature last year, about a third of oil reserves, half of natural gas reserves and more than 80 percent of coal reserves need to stay in the ground in order for the world to keep global warming to no more than 2 degrees Celsius above preindustrial levels, the goal of the Paris climate agreement. And if these resources are never extracted, they will be worthless.

While the Ceres study spotlights insurance, McHale also notes that carbon assets pose a risk to all investors. To this end, at the Paris talks last December, a new task force was launched that aims to guide companies on disclosing their climate-related financial risks. The task force is run by Michael Bloomberg, the billionaire former mayor of New York. Another member is Mark Carney, governor of the Bank of England; he has repeatedly spoken out about the particular risks climate change poses to the insurance industry.

In the Ceres study, McHale and her colleagues used publicly available information on company-owned bonds, funds and equity to determine how much money the country's leading insurance companies had invested in fossil fuels and utilities by the end of 2014.

They found that most companies had 4 to 6 percent of their bond portfolios tied to oil and gas and a few, including Ameriprise, Lincoln National and Voya Financial, had up to 10 percent. Ceres calls these investments especially risky, since more than 70 percent of publicly traded oil and gas companies have had a credit downgrade in the last two years. Even oil giants Royal Dutch Shell, Total, Chevron and ExxonMobil were downgraded in February by Standard & Poor's.

Insurers had even higher investments in electric and gas utilities, with two companies having at least 16 percent of their bond portfolios connected to those industries.

"This Ceres report has highlighted in a public fashion the exposure that [insurers have] to a carbon-intensive, or fossil fuel-dependent industry," said Alex Bernhardt, head of responsible investment at Mercer Investments. Mercer released a study last June offering guidance for companies on how they could quantify their climate risks.

According to McHale, the goal of this report isn't to get companies to immediately dump their energy investments. Instead, Ceres hopes to motivate companies to engage with the companies they are investing in. She said she would encourage insurance companies to keep investments in oil or utility companies that are investing in renewables, or taking steps to identify and disclose their climate risks. Moreover, McHale said she hoped insurers would press companies that aren't doing much on climate now to be more pro-active.

One area where insurers already appear to be paying close attention to the market is coal. Insurers had invested only $1.8 billion in coal by December 2014, a struggling industry that's been plagued by bankruptcies, decreasing stock value and increased federal regulation. Since the start of the year, the nation's top two coal companies, Peabody and Arch Coal, have declared bankruptcy.

According to California's insurance commissioner Dave Jones, it's too early to know if insurers are getting out of the coal industry for good. In January, Jones called on all 1,300 insurers operating in California to voluntarily divest from thermal coal this year. Jones told InsideClimate News he believes investments in coal "aren't going to hold value" over time.

Earlier this month, Jones mandated that all major insurers operating in California disclose their fossil fuel investments to state officials by July. Jones is the first financial regulator to take this step. He thinks this will help insurers confront their climate risks—and he hopes other regulators in the insurance and banking industry will follow suit.

Ceres also recommends regulators require companies to disclose carbon assets.

The Ceres report also revealed the insurance industry had already invested about $7 billion in clean energy companies—and recommended companies continue to expand their investments in that industry.   (http://www.clipartbest.com/cliparts/xig/ojx/xigojx6KT.png)


http://insideclimatenews.org/news/24052016/insurers-climate-change-risks-global-warming-fossil-fuel-investments-oil-gas-coal-report-warns

Title: Re: Money
Post by: AGelbert on May 27, 2016, 07:28:43 pm
Another one bites the dust...twice!

HTF does this work?   ???     (http://www.createaforum.com/gallery/renewablerevolution/3-200714191404.bmp)

RE

http://oilprice.com/Energy/Energy-General/US-Oil-Company-Sets-New-Record-with-Second-Bankruptcy-in-One-Year.html (http://oilprice.com/Energy/Energy-General/US-Oil-Company-Sets-New-Record-with-Second-Bankruptcy-in-One-Year.html)

U.S. Oil Company Sets New Record: Headed For Second Bankruptcy in One Year

(http://cdn.oilprice.com/a/img/content/article/718x300/8a8e64f639fc80538a36be4a314b47f5.jpg)

For the second time in less than a year, oil services provider Hercules Offshore is heading for Chapter 11 bankruptcy protection by entering a restructuring support agreement (RSA). The Wall Street Journal writes that ''In a prepackaged bankruptcy, companies line up creditor support for their debt-payment plans before seeking chapter 11 protection, allowing them a speedier—and cheaper—trip through bankruptcy.

Last August, Hercules filed for Chapter 11 protection—the first time. At the time, the company showed US$13 billion in debt and just over US$546 million in assets, trying to restructure with a new US$450-million credit line.

Related: Clinton Chasing Votes With Fracking U-Turn

It resurfaced from this bankruptcy only in November, but the perpetual low oil price environment led to a slump in exploration investment and project cancellations.

Under the new Chapter 11 filing, Hercules is selling assets to pay off investors. The company has reportedly agreed to transfer the right to buy the Hercules Highlander jack-up rig to a subsidiary of Maersk Drilling for US$196 million.

The company said that its international units will not be included in the Chapter 11 filing, but will be part of the sale process.

In just the first four months of 2016 there were double the the number of energy company bankruptcies than in all of 2015. The total secured and unsecured defaults rose to $34 billion, double the $17 billion total for all of 2015. In 2015, 42 oil companies filed for bankruptcy.

In April this year, 27 North American oil and gas companies filed for bankruptcy—11 of them filing under Chapter 11, according to a Haynes and Boone report. Some 69 North American oil and gas producers have filed for various forces of bankruptcy.

More than one-third of public oil companies globally face bankruptcy, according to a new Deloitte report that paints a fairly gloomy picture of the U.S. shale patch as it struggles to survive under mountains of debt.


Chapter 11 is a corporate welfare queen bailout mechanism, ESPECIALLY if the corporation is a fossil fuel corporation.

WHY? Because the "restructuring" of the corporate finances are figured by trustees in Fossil Fuel FRIENDLY Bankruptcy courts (mostly in TEXAS) that, in virtually ALL of the fossil fuel Chapter 11 proceedings last year, PROJECTED $60 per barrel prices in 2016.

It didn't happen. HOWEVAH, the oil pigs got away with operating WITHOUT paying their main creditors based on projected earnings happy talk BULLSHIT that the bankruptcy courts swallowed hook, line and (bought and paid for) sinker.

When ANY other corporate enterprise, such as a retailer or, dare I say, a Renewable Energy product manufacturer  ;), goes into Chapter 11, they do not get this totally irresponsible, irrational and corrupt court protection and help.

We hear wailing and gnashing of teeth about Renewable Energy "scams and boondoggles" and all that "subsidy money waste" and "giant scam taxpayer loans" for Renewable Energy (statistically insignificant compared with fossil fuel subsidy and taxpayer loan swag), BUT NOT A PEEP about how fossil fuel corporations, that should have gone the way of the dodo bird, are still there.

The fact is that there is no way that ANY of these oil pigs can make money, even with their subsidy swag (along with the hidden pollution "externalized costs" subsidy swag) at less than around $60 a barrel. And THAT is why the Bankruptcy courts push the BULLSHIT that they will be "profitable again", because, uh, the price of crude will soon exceed $60 a barrel...

The HELL of it is, they may be right!  (http://www.coh2.org/images/Smileys/huhsign.gif)

But NOT because of supply and demand. NO SIR! It will be because of GAMED SPECULATION in the commodities trading of oil and gas futures, just like happened around 2003. ANY study of that period confirms the FACT that there was NO "lack of supply" to justify the price shocks.

At present the recent 80% rise in per barrel prices was ALL SMOKE AND MIRRORS.

The fact that a one billion barrel oil basin has just been discovered and announced ACCESSIBLE to current drilling technology off the Falklands SHOULD, in a sane world, spell the DOOM of any oil pig that requires $60 a barrel to survive.

But as long as we have bought and paid for bankruptcy courts in Texas, and the government backed gamed commodities trading CRAP, the WELFARE QUEEN babying of oil and gas corporations will continue. (http://www.createaforum.com/gallery/renewablerevolution/3-200714183337.bmp)
Title: Re: Money
Post by: AGelbert on May 27, 2016, 07:48:28 pm
Climate Change Is Becoming A Bigger Deal For State Retirement Funds

Colorado Pubic Radio

By Grace Hood

May 26, 2016

An effort to require oil giants Chevron and Exxon Mobil to determine the risk climate change poses to them narrowly failed Wednesday.

But several state retirement funds—including Colorado’s– supported the effort.


Colorado Public Employee’s Retirement Association, or PERA, voted in favor of stress test resolutions that would provide more information about the economic risks posed by a warming planet. As of March 31 2016, Colorado PERA owned 1.6 million shares of Chevron and more than 923,000 shares of Exxon Mobil. Colorado PERA invests on behalf of more than 500,000 current and former state employees.

Quote
“We need more disclosure on some issues than we’ve had in the past,” said Colorado PERA Executive Director Greg Smith.

The call for more information was led by New York state Comptroller Thomas DiNapoli, a trustee of the New York State Common Retirement Fund. The move was supported by state retirement systems in Vermont and California.

Interest in the topic of climate change has been heightened since the 2015 climate summit in Paris, where 200 countries including the United States agreed to hold the planet’s rise in temperatures below 2 degrees Celsius.

“If there are limitations that impact one geographic area, one country more than another, what is that going to do to their holdings [compared to] a company that has a different geographic dispersion of its holdings?” said Smith. “Those types of things are what we hope comes out of these disclosures."

In the past, Colorado PERA has voted in favor of similar climate change reporting proposals with other holdings it owns including Anadarko Petroleum, Noble Energy, AES Corporation, Hess Corporation and Dominion Resources.

Diverse Interests Driving Climate Change Resolution Support

While Colorado PERA is seeking more investing data, it’s staying away from making any political statements on climate change. PERA voted against a shareholder proposal that would have required Exxon Mobil to make climate change policy commitment. It also voted against a proposal prompting Chevron to reduce its greenhouse gas emissions.
•Use this tool to look up PERA's voting records

“We’re not in the business of telling Exxon or Chevron what work they should be doing, or what their business model should be,” said Smith.

Socially responsible investing firm First Affirmative Financial Network, based in Colorado Springs, supported all of the climate change resolutions put forth by the two oil giants. The company owns minimal shares of both Chevron and Exxon Mobil.

"We have been heartened by the strong support that has been exhibited by a broad range of investors pressing Exxon in particular on their complete lack of preparation for the coming lower carbon economy," said First Affirmative Director of Shareowner Engagement Holly Testa via e-mail.

Exxon Mobil is currently under investigation by New York's Attorney General to determine if the company lied to the public about the risks of climate change.

"Exxon clearly invested a lot of shareholder resources blocking shareholder requests for disclosure and action on climate change. They should instead be investing in the diversification of their energy business away from the past that is fossil fuel and towards the future that is renewable energy," said Testa.

Chevron and Exxon opposed all the climate change resolutions and attempted to block them from getting a vote this week. The Securities and Exchange Commission ruled against the move last March.

Quote
Despite defeat, environmental groups declared victory on Wednesday. They said the stress test resolutions drew more support than any contested climate-change proposals in recent history.

The growing group of supporters is a diverse mix of activists and investors that simply want full disclosure from companies on the financial impact of climate change.

“That’s the reason you’re seeing what might appear to be a shift. But I think it’s an evolution,” said PERA's Greg Smith.

http://www.cpr.org/news/story/climate-change-becoming-bigger-deal-state-retirement-funds#sthash.veBD6iQf.aDzKs3bB.dpuf
Title: Re: Money
Post by: AGelbert on May 27, 2016, 08:03:42 pm
Automakers Rev Up Green Bonds for Hybrids and Electric Vehicles

by  Justin Morton

May 26, 2016 — 9:44 PM EDT

Investors expect more automakers to tap the green bond market after auto companies raised $2.5 billion in 2016 to finance electric and hybrid vehicles.

This month, the financial arm of Toyota Motor Corp. sold a $1.6 billion green bond to fund consumer purchases and leases of energy-efficient Toyota and Lexus vehicles. To meet demand, the bond was upsized from an earlier plan to sell $1.2 billion. Zhejiang Geely Holding Group, which manufactures London taxis, raised $400 million this month in a green bond sale to finance development of zero-emission black cabs in the U.K. The Chinese automaker’s bond was close to six times oversubscribed.

More automakers are likely to come to market with green bonds, said Stephen Liberatore, a portfolio manager at TIAA. "It helps the automakers to create positive focus on what they are attempting to do, but also diversify their funding base," said Liberatore, whose TIAA-CREF Social Choice Bond Fund holds about $75 million of Toyota’s green bonds. The firm didn’t participate in the most recent deal because they viewed the pricing as "rich," compared to other AAA-rated asset-backed securities currently trading, he said.

Toyota’s financing unit, which issued its first asset-backed green bond in March 2014, has raised $4.6 billion in three different issuances since then. Buyers of the debt have included asset managers, insurance companies, and pension funds, including California State Teachers’ Retirement System.

As the biggest global seller of energy-efficient vehicles, Toyota uses proceeds from its green bonds "quickly" said Adam Stam, national manager of secured funding at Toyota Financial Services. The funding from the green bonds is invisible to consumers and dealers, but assigned on the back end to financing for eight vehicle models, such as Toyota’s Prius and Camry Hybrid, and the CT 200h and ES 300h from Lexus, he said.

Hyundai Motor Co., which plans to launch 26 alternative fuel vehicles by 2020, also ventured into market in March when its financial arm issued $500 million in green bonds.

Toyota and Hyundai’s green bonds, which fund consumer purchases, are similar to standard automotive asset-backed securities. The total automotive ABS market was about $191 billion in the first quarter, according to the Securities Industry and Financial Markets Association.

The new bonds come as the markets for both electric vehicles and green bonds are growing. About $46 billion of green bonds were issued in 2015, and that could rise to $56 billion this year, according to Bloomberg New Energy Finance. Global electric vehicle sales are projected to hit 41 million by 2040, representing 35 percent of new light duty vehicle sales, according to BNEF.

Chinese electrical vehicle companies are growing interested in green bonds, according to Sean Kidney, chief executive of the Climate Bonds Initiative. "China has a very active program of switching vehicles to electrical for both air pollution and climate change reasons," he said.

http://www.bloomberg.com/news/articles/2016-05-27/automakers-rev-up-green-bonds-for-hybrids-and-electric-vehicles
Title: Re: Money
Post by: AGelbert on June 04, 2016, 05:22:36 pm
Trading Partners Russia and Iran: The oil output elephant in the "red tape" room is not mentioned barely mentioned in the following article.  8)

Russian Hopes for Iran Trade Boom Run Aground at Caspian Port

June 3, 2016 by Reuters

ReutersBy Svetlana Burmistrova

ASTRAKHAN, Russia, June 3 (Reuters) – When sanctions on Iran were lifted in January, Russia might have expected to be near the front of the queue for business opportunities. Moscow, after all, was one of Tehran’s oldest allies and is now its partner on the battlefield in Syria.

On the evidence of the commerce passing through the Caspian Sea port of Astrakhan, the main jumping-off point for Russian sea-borne trade with Iran, it’s not playing out like that.

The value of goods shipped from the Astrakhan region to Iran in the first four months of this year was down 16 percent on the same period last year, according to the regional government.

“There’s a pause with grain, timber products are being loaded, metal gets shipped very rarely and then only in very small consignments,” said Artyom Ulyanov, commercial director of Astrakhan’s central cargo port. “Overall, we’re loading less that we did in previous periods.”

That, according to traders and shipping industry sources, is partly because Russian red tape ;)  is choking trade at a time when Iranians can do deals with Western countries that were effectively closed off to them before because of sanctions.

To be sure, the port at Astrakhan is only a snapshot of the state of Russian-Iranian ties. But it could point to the limitations of a relationship that is forged from a convergence of interests in areas like Syria rather than a shared world view.

The mood around the wharfs and dockyards at Astrakhan, Russia’s biggest Caspian Sea port, is sour.

On a visit late last month, a Reuters correspondent found that cranes in several sections of the port were standing still because there was no cargo to move.

“Before, we had to search for ships” to carry cargo to Iran because the volume of the trade was so high, said the owner of a grain-exporting company that supplies Iran, speaking of trade before the international sanctions were lifted.

Now, said the businessman, who asked not to be identified so he could speak candidly, ship operators came knocking on his door looking for business.

Last month, Russia’s ministry for economic development organised a Russian-Iranian business forum meant to take place in Astrakhan. Russian Energy Minister Alexander Novak was scheduled to attend.

It was called off, with the local government citing “circumstances that have arisen”. Some participants only found out the event was off when they were already on the way there.

“We and another thousand people from Iran got tickets and visas, but they called off the forum two days before it starts,” said Taban Tizgush, president of the chamber of trade and industry in the Iranian province of Gilan, on the Caspian Sea.

“That causes us a lot of damage.”

MIDDLE EASTERN PARTNERS

How Iran and Russia get along with each other matters globally.

The joint operation between Russia’s air force, Iran’s military and the Iranian-allied Hezbollah militia turned the tide of the Syrian civil war in favour of President Bashar al Assad’s administration, frustrating Western efforts to push him out and testing U.S. influence in the Middle East.

What happens next in Syria depends in large degree on whether the Russian-Iranian partnership holds together and keeps backing Assad.

The port at Astrakhan gives one perspective on ties between the countries. Elsewhere, deals are being done.

Russia’s government said last year it had agreed joint projects with Iran worth $40 billion. A Russian shipbuilder won a contract in May worth nearly $1 billion to build five offshore drilling rigs for Iran. Moscow is also selling sophisticated weapons to Tehran, including S-300 air defense missiles.

But the mood at the port chimes with a more general atmosphere of tension in ties between Iran and Russia.


Some Iranian officials are wary of getting too close to Russia, which occupied Iran twice in the 20th century. Russia for its part is wary of Iran becoming too powerful and of alienating Iran’s rivals in the Middle East.

Interactions between the Kremlin and Iranian officials can, at times, be fraught.

When Russian President Vladimir Putin visited Tehran in November last year for a gas exporters’ forum, Iranian security officials barred reporters travelling with Putin from entering the venue.

That sparked an argument between Iranian security and Kremlin press service officials, and in the scrum that resulted, Russian Foreign Minister Sergei Lavrov and Novak, the energy minister, were jostled, according to a Reuters reporter who was there.

NEW COMPETITION

In an interview with Reuters, Alexander Zhilkin, the Astrakhan region governor, said grain exports this year would be lower than in 2015 because Iran was enforcing temporary grain import restrictions.

But he said he expected trade to double within 18 months of all the international sanctions being lifted on Iran.

“Petrochemicals, paper, glass, wood, wood products; there is demand for all of that,”
he said. “This year, unexpectedly, we’ve had requests from Iran for potatoes and onions.”

However, local business people say the deeper problem is not demand.

Traders who move goods through Astrakhan to Iran talk of layers of red tape that can hold up cargoes for months, of corrupt officials withholding permissions, and of import and export regulations changing without warning.

“That’s why our share of trade with Iran is pitifully small,” said Alexander Rybakov, finance director of RusIranExpo, an exporters’ union.

Despite those issues, during the years of sanctions trade was healthy. That was in part because Russian companies were prepared to take the risk of doing transactions with Iran, while many other countries were not.

The main exports via Astrakhan – wheat, timber and scrap metal – were not banned by sanctions. But the international restrictions imposed over Tehran’s disputed nuclear programme effectively barred Iran from international financial systems, so settling bills was complicated.

Russian firms found ways around that
, by using intermediary banks in third countries. Grain exports from Russia to Iran grew while sanctions were in force.

But with sanctions gone, business people in Astrakhan predict that big global grain traders will now move into the Iran market, squeezing out Russian players.

The big global traders will have lower costs because they can deliver grain on vessels of up to 70,000 tonnes via Iran’s Gulf ports, while the maximum size of vessels in the Caspian is 6,000 tonnes, said Hossein Lotfi, owner of a trading firm.

Quote
“If Russia does not take steps to hold onto its trade with Iran, it could lose 20 to 30 percent of grain exports,”
said Lotfi, who is also a consultant to Astrakhan’s chamber of commerce with Iran.

“Once payments are simplified new players could come into the south of Iran, and they can offer lower prices.”

(Additional reporting by Polina Devitt and Denis Pinchuk in MOSCOW; Editing by Christian Lowe and Pravin Char)

(c) Copyright Thomson Reuters 2016.

https://gcaptain.com/russian-hopes-for-iran-trade-boom-run-aground-at-caspian-port/ (https://gcaptain.com/russian-hopes-for-iran-trade-boom-run-aground-at-caspian-port/)

Agelbert NOTE: The elephant in the room in the rather intractable present relations between Russia and Iran   (http://www.pic4ever.com/images/3ztzsjm.gif) is the FACT that Iran flat refuses to lower their production of oil to help jack up the price so OPEC in general, and Russia in particular, can make their polluting product profitable again. The "red tape" technique is something all countries use when they are attempting some "friendly coercion" to get the other trading partner to get with the program, so to speak.  (http://www.desismileys.com/smileys/desismileys_6869.gif)

Russia has GIANT potential as a world breadbasket. It is sad that they haven't engaged in a massive transition to Renewable Energy based agriculture requiring a phasing out of all fossil fuel exploration, exploitation and use.

Food can be grown with Renewable Energy. People cannot eat fossil fuels on a poisoned planet.
(https://collapseofindustrialcivilization.files.wordpress.com/2013/11/snap-2013-11-06-at-14-31-28.png)



Title: Re: Money
Post by: AGelbert on June 07, 2016, 09:13:18 pm
RealEconTV

Business news without the bullshit

How bad are the bankers really?  ???

Worse than you can imagine

The book is "JPMadoff" and the author is Helen Chaitman.

https://youtu.be/7-Me2f5Eh4w

Here's how big banks work today:

1. Steal with both hands
 
2. Pay back a small share of the profits in fines
 
3. JP Morgan has already given back $36 billion which means the profits from their fraudulent activities are many, many times that amount.


Quote
"They go from one crime to another. No one gets prosecuted."

 "All you have to do is follow the money. Everyone has been paid off."

http://www.realecontv.com/videos/corporate-criminality--1/how-bad-are-the-bankers-really.html (http://www.realecontv.com/videos/corporate-criminality--1/how-bad-are-the-bankers-really.html)
Title: Re: Money
Post by: AGelbert on June 09, 2016, 07:11:45 pm
But our survival depends on putting a cork on maximum wealth, period.

Putting a cork on maximum wealth is clearly necessary, but everyone who has some thinks the target figure should be somewhere above what they actually have or expect to accumulate.

I think just about everyone except Billionaires doesn't think anyone needs a Billion dollars.  I can't see many people believing you need $100M either.

The argument here seems to be that the cap should be $10M, which I think is still excessive.  So I put the cap at $1M, which Eddie &  GO think is too low.

To me, even $1M seems more than you need, and the yearly upper income I set of $200K also seems more than you need, but it seemed like a reasonable figure to work with.  $200K is 10X the amount of money I get along on every year.  I can see double or triple what I live on for a little more comfort and not such a spartan existence, but 10X?

What that surplus buys is things like Hawaiian Vacations, large McMansions and new cars.  Those are precisely the things we need to give up to at least make a start at not being such a ridiculously consumptive society.  But nobody who has such things wants to give them up.  This is the style of living they have become accustomed to, and so such income is "necessary".   It's also redefined as "Middle Class" to have this income and net worth rather than being "Rich".

When I was a kid though, what being middle class meant was living in a nice apartment or modest house.  Middle Class people did not have 2nd and 3rd homes.  A middle class person may or may not have had a car, if they did it wasn't a new one.  Only rich people bought new cars, and only rich people lived in Great Neck where all the huge houses were.  Middle class people didn't Vacation in Hawaii every year, if they did take such a vacation it was a "once in a lifetime" adventure.

Along the road here though, the expectation of what it means to be "Middle Class" escalated up.  Problem here is that fewer and fewer people all the time were able to live this newly escalated level of Middle Class living, because one person's income is another person's expenses.  While the salaries of the professional and managerial class of people kept spiralling upward to meet or beat inflation, the salaries of everyone else began to shrink in inflation adjusted terms.  More people descended to poverty, while a few people lived the new and upscaled version of Middle Class living.  It was Slow Boiling Frog for the last 30 years, but of course now this process has vastly accelerated.  The Gap keeps widening, and it is becoming socially untenable.

It would be nice if you could solve this problem by raising the living standard of everyone on the bottom, but in a shrinking economy you can't do that.  So the only way to make things more level is to scale back the upper end of the society.  I'm not asking for people to drop down to Kalahari Bushman level.  I'm just saying a Modest Home, a Beater Car and vacations in National Parks instead of Hawaii every year.  I don't think this is too much to ask.

RE


I agree. And the argument about the pecking order difficulties within the well to do made by many as a rationalization for not putting a lid on maximum wealth is groundless for another, not often mentioned or thought of, reason.

Let me elucidate.  ;D

Would Eddie or GO seriously have a problem with Bill Gates, Warren Buffet, Bezos, etc., et al being limited to the same net worth as that of Eddie and/or GO?

I don't think so.

Would Eddie or GO like the idea of their neighbors getting money distributed from those billionaire bank accounts for the purpose of making their property carbon neutral forever and purchasing non-polluting vehicles?

I think so.

Do Eddie and GO think Governor Shumlin of Vermont, a relative piker among the well to do at a net worth of about 14 million, needs more than 4 million or so to live well the rest of his life?

I don't think so.

Do Eddie and GO think ANYBODY needs an executive jet?

I don't think so.

My point is that the ABSENCE of executive jets and mega-yachts and multi-thousand square foot mansions, that must be heated and cooled and groomed in a horrendously wasteful fashion, is in the best interests of ANYBODY, including the people that have them.

The rat race motivation that the non-rich allegedly possess to be fabulously rich, that many assume, is simply an imagined, not real, assumption. There is a HUGE difference between desiring a decent living and wanting to be fabulously rich.

Furthermore, those pikers like Eddie and GO (that are probably somewhere below Shumlin on the rich pecking order), in my opinion, would welcome the notion that THEY were at the top of the maximum wealth scale, if they sat down to think this through properly.

The inability to hoard wealth above a certain point is a bonanza for the economy. The billionaires and most people at Shumlin's level and above are HOARDING wealth that is HURTING the economy, the environment and the chances of the future generations to inherit a viable biosphere.

Eddie and GO should not see this discussion as somebody reaching for THEIR wallet, which, as I mentioned previously, is the disease that strikes people dominated by the "rampant greed is human nature" mindset.

Eddie and GO should relish the idea that they will not be in a rat race for more and more because they are already at or near the MAX, while simultaneously their neighborhoods are benefiting from cleaner air and healthy crops, thanks to funds liberated from the super wealthy greed balls.

That scenario is NOT "pie in the sky". It's the ONLY scenario that will WORK to get us out of this mess!
Title: Re: Money
Post by: AGelbert on June 10, 2016, 07:39:34 pm

Americans are, as a group, very poor at managing money, and easily manipulated into the wrong kind of debt, which keeps them strapped for their entire lives. Not to mention that most people ruin themselves financially, often more than once, through divorce, which leaves most people  broke and in debt up to their keisters. They take on liabilities, but never use them to accrue real assets.

Americans can't be bothered to save. //

A lot of it is that kids are not taught jack **** about money, credit, or the difference between an asset and a liability. Which is deliberate, of course.


And here is the truest thing you'll read all morning.

It's really debilitating. So many of an entire generation of young people unable to get out of their own way. I see this with my wife's nephew, who is employed in tech support, has a good job, but can never quite get it together to launch.
If we actually educated people about money, it would be easier for them to see what we're doing to them, and we can't have that.


This is an area that I know quite a bit about.

The ignorance of the American public on financial matters is utterly amazing.

I am talking about folks that are very well educated as well. It would  actually appear as Surly and Eddie suggests that it was left out of the education process on purpose.

Now please don't get me wrong, I'm not talking about folks that do not agree with my financial outlook, but folks who just have a complete void in their head of basics like the difference between a stock and bond, or a cd and savings account. Very few have any concept of savings and think Social Security will carry them when they are no longer working.

We have also lost many of the Community banks that taught about saving and had pass book saving plans and Christmas Clubs. They have bee replaced by the Big Piggie banks that advertise loan rates and refi games instead.


As an aside to my posting I would like to praise the Democrats, not something you will see me do very often, for Social Security.

The idea that people are incapable, and lack either the smarts or self discipline to put away for their old age or a rainy day was the correct one.

While it goes against my Libertarian philosophy, it was a great and needed government program. There are always exceptions to general rules and principles in the REAL world.

I absolutely shudder thinking where we would be today as a nation without that wonderful government program of Social Security.

As Agelbert often comments,"There is Good and Bad government. Social Security is a great and good program.

 
(http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png)  (http://www.createaforum.com/gallery/renewablerevolution/3-200714191456.bmp)

Another program that is totally socialist is the military. I grew up in it. Everybody has a job or they are in jail.

There is no poverty. There are no riches. Their is a max AND a minimum on income so everybody eats well, gets free dental and health care, a roof over their head and a decent education for their kids.

The difference between the base commander's quarters and the an enlisted mans quarters are minuscule. The base commander has to follow the same rules everybody else does. At Fort Leavenworth, Kansas, the base commander, who later went on to be the big dog in the Joint Chiefs of Warmongers at the Pentagon, had to throw HIMSELF off base for a year because his kid, known to fellow Army brats like me as "punky" Johnson  :evil4:, painted a few cars on Halloween night.  (http://www.pic4ever.com/images/4fvfcja.gif)

That socialist program is totally funded by taxes. I disagree totally with Eddie's erroneous assumptions about Social Security funding. ZIRP is privileged welfare queen stuff compared to the borrowed money for Social Security.

We should start reducing military funding and dirty energy welfare queen subsidies massively before we even consider talk about reducing Social Security, which IS mostly funded by we-the-people.
Title: Re: Money
Post by: AGelbert on June 10, 2016, 07:41:29 pm
I fully agree that Social Security is a needed system, but we actually need to pay for it instead of borrowing all the money to keep it afloat. And it pains me to know that SS will be dismantled, most likely, through privatization, sooner or later. Hopefully after I'm dead.

I have decided, if current rules persist (and I remain above ground) to join the ranks of the SS generation in exactly six more years. Waiting longer would just make it likely to get shut out by some new means test, which is surely on the horizon.

The stupid part is, FICA is one of the most REGRESSIVE taxes the US has.  Wage earners pay it on the first dollar they earn (self-employed people get to earn up to $400 before they have to start paying, woohoo), yet there is a cap on it once you get into the 6-figure range.  If all they were to do was remove that cap, the SS trust fund should be solvent for my DAUGHTER'S lifetime (of course, with all the caveat about a functioning government, currency that has value, nuclear wars, etc.)

Absolutely true.

JD for President!

Campaign slogan: Remove the Cap!

That could WOULD work.


(http://cliparts.co/cliparts/Big/Egq/BigEgqBMT.png) Of course! It's CFS! And JD, who knows a thing or two about accounting games and money, could add some paragraphs about present value when anybody complains about how much we are "borrowing" to fund Social Security...

I would vote for JD on the "Remove the Cap!" platform.  (http://www.pic4ever.com/images/301.gif)

Perhaps I am mistaken, but I don't think JD will get Eddie's vote.  (http://www.createaforum.com/gallery/renewablerevolution/3-051113192052.png)




Title: Re: Money
Post by: AGelbert on June 11, 2016, 04:24:54 pm
When I was a kid, I grew up watching a program called, "The Millionaire." It ran from 1955 to 1960 and explored the ways sudden and unexpected wealth changed life for better or for worse. It was a hit! It told the stories of people who were given one million dollars from an anonymous benefactor, one John Beresford Tipton,  who insisted they never know him.

The Millionaire was complete propaganda.  It was designed to make people with drone jobs feel good about themselves so they would accept the stratification of wealth in the capitalist society. The development for the show came during the McCarthy era and it was funded by Colgate-Palmolive. It was complete fiction, there was no JB Tipton and nobody was ever given a million dollars.


Jesus **** Christ. It was a TV show, it was fiction, it was sixty years ago, and I was five years old.

YOU were the one who brought this piece of propaganda up as a justification for why having money doesn't buy happiness and as a corollary to that why it is OK for some people to have +$1M and others not.  I could not let that argument stand, so I went full on at it, in the RE Style. lol .  NOW you try to weasel out by saying you were only 5 years old when you bought that ****.  I am younger than you, I only saw it in reruns, but even at 5 years old I didn't buy it then, and I don't buy it now either.

You are guilty of a remarkable feat of thread-jacking. The discussion was, variously, about how a million dollars is no longer what it used to be, and even still, it is pretty difficult to amass, even for a middle class family. You yourself cited the $90,000 figure for a family of four.

Then I recall "The Millionaire" in a trip down memory lane as a fantasy about a million dollars being a life-changing amount of money (and remember, the taxes had already been paid), and you jump the shark. If you will recall, one of the lessons of the series was that money doesn't always buy happiness. Which is true, because no matter how much you have, you can never have enough.

Blessed are those who have enough.

Wasn't looking for an argument, but am happy to oblige if you're bored. Weasel? Good luck with felching ferrets.

"The Millionaire" was not necessarily propaganda, although if you are the kind of person who sees propaganda in every corner, I guess you could make a case. I don't. It was an entertainment. In case you missed Comm 101, entertainments exist as a vehicle to carry advertising, which makes the network money. Sure, 1956 was the height of McCarthy and the red scare, but Americans were fully employed and on a vector to the greatest prosperity the world had ever seen in the wake of WWII. "The Millionaire"  ran for over 200 shows, and since each episode featured a different beneficiary, numerous guest stars appeared during its production, including  Charles Bronson, John Carradine, Chuck Connors, Angie Dickinson, Barbara Eden, Peter Graves, Dennis Hopper, David Janssen, Jack Kelly, Jack Lord, Nora Marlowe, Joyce Meadows, Lee Meriwether, Martin Milner, Mary Tyler Moore, Agnes Moorehead, Rita Moreno, Aaron Spelling, Robert Vaughn, and Betty White. (per Wikipedia) Who knew?

You need to calm the **** down before yuu stroke out, and deprive yourself of the fruits of victory over All wrong.


AHEM!  ;D

I just want to interject praise for both RE and Surly (and twenty lashes with a wet noodle to GO and Eddie who are silent as death about the needed lifting of the cap on FICA -Federal Insurance Contributions Act taxes proposed by JD).

RE used the Surly post on that old TV show as a springboard to post some accurate data. JD reinforced it with the lottery survey.

I praise Surly because that show, while being a propaganda masterpiece (as RE rightfully pointed out) was part of my childhood experience.

As a child watching that show, I received the "appropriate" programming, complete with those spots (placed by the gooberment) nobody here, except maybe GO, remembers because they didn't accompany the reruns  :D, about "worship at your church this Sunday" between watching a household go ga ga when they were "blessed" with a million dollars.

The MESSAGE I and several million naïve kids received was that MONEY EQUALS WEALTH in the U.S.A. (Wealth = Good, No Wealth = Bad). This, in itself, already starts a kid on the FALSE idea that CAPITAL is PROPERTY based, not NATURE based. The more nuanced part of that message, pushed on just about every show I watched before the show ended, was that WEALTH DOES NOT EQUAL HAPPINESS. But any kid watching that show would say to themselves, "I'll worry about handling happiness after I get DA MONEY!".

This is one slick propaganda technique.

WHY? BECAUSE, it immediately let's the guy writing those checks off the hook for being "happier" than people with less money (poor guy - all that moral responsibility to bear - all that soul searching deciding who to BLESS with a million bucks - such a nice, good, responsible, mature, productive, worthy of praise, etc. LEADER  ;)).

The average family is portrayed as fairly ignorant in financial affairs (although they are middle class, responsible home owners) as the target of shysters, greedy relatives AND all the trouble that comes from not having "professionals" to take care of financial windfalls.

At the end of the show, the family "learns their lesson" about how to SAY NO (to greedy people who want to take all that EXCELLENT money from them) by using "professionals" (e. g. lawyers LOL!).

And to further sanctify the "professionals," the obligatory talk of which charities to BLESS (with MONEY, of course!) is part of the "enlightened" view of the family that has "learned its lesson" towards the end of the show.

The propaganda worked. I believed it totally until some time during the 1980's.

It 's not true. But some people still believe the average Joe and Jane are dumber than a post. Perhaps they are more propagandized than in the 1950's. Perhaps they are more victimized by the gooberment mushroom treatment. But they aren't dumb; they are victims of propaganda.

I wish people would stop blaming the victims.

Surly, I do not see propaganda In every corner, but I am certain it was ubiquitous in the TV shows of the 1950's. Not much has changed.
Title: Re: Money
Post by: AGelbert on June 11, 2016, 04:43:58 pm
Natural Capitalism
Quote
While traditional industrial capitalism primarily recognizes the value of money and goods as capital, Natural Capitalism extends recognition to natural capital and human capital. Problems such as pollution and social injustice may then be seen as failures to properly account for capital, rather than as inherent failures of capitalism itself.

The fundamental assumptions of Natural Capitalism are as follows:[3]

1.The limiting factor to future economic development is the availability and functionality of natural capital, in particular, life-supporting services that have no substitutes and currently have no market value.

2.Misconceived or badly designed business systems, population growth, and wasteful patterns of consumption are the primary causes of the loss of natural capital, and all three must be addressed to achieve a sustainable economy.

3.Future economic progress can best take place in democratic, market-based systems of production and distribution in which all forms of capital are fully valued, including human, manufactured, financial, and natural capital.

4.One of the keys to the most beneficial employment of people, money, and the environment is radical increases in resource productivity.

5.Human welfare is best served by improving the quality and flow of desired services delivered, rather than by merely increasing the total dollar flow.

6.Economic and environmental sustainability depends on redressing global inequities of income and material well-being.

https://en.wikipedia.org/wiki/Natural_Capitalism (https://en.wikipedia.org/wiki/Natural_Capitalism)

Message to anyone who says the above is "pie in the sky" or a way to confiscate money from "productive job creators" ;

FU  ;D

Homo SAPS WILL NOT SURVIVE if we do not STOP organizing our economy around the abstractions of neoclassical economics and accountancy and INSTEAD, totally organize our economy around the biological realities of nature.
(http://2.bp.blogspot.com/-5RW5fqOUW-A/UgBvfpbfOcI/AAAAAAAAAG0/X8s1iRySYsQ/s1600/cartoons-text-the-end-porky-pig-looney-tunes-warner-bros.-HD-Wallpapers%5B1%5D.jpg)
Title: Re: Money
Post by: AGelbert on June 11, 2016, 06:36:19 pm
Quote
I just want to interject praise for both RE and Surly (and twenty lashes with a wet noodle to GO and Eddie who are silent as death about the needed lifting of the cap on FICA -Federal Insurance Contributions Act taxes proposed by JD).

Yes three lefties in love with big ideas for my money and Eddies but the cheapest poverty crying zero pockets when it comes to them.

Sorry you guys don't have any dough, but look at the good part, you wonderful guys are going right to heaven when you croak, while Eddie and me head south. Won't heaven be nice, a Lefty paradise of the poor and downtrodden, no bad rich folks there. Hope there will be lots of free beer and nachos and beef jerky by the ton in the big 7/11 in the sky.

Now, isn't that enough reward for you big spenders of my money?
(http://www.coh2.org/images/Smileys/huhsign.gif)



Oxie !
You ben' dippin' into the corn squeezins' again   (http://www.createaforum.com/gallery/renewablerevolution/3-200714191404.bmp)


Quote
Oxie !
You ben' dippin' into the corn squeezins' again    (http://www.createaforum.com/gallery/renewablerevolution/3-200714191404.bmp)

Scotch and Chianti Classico my favorites AZ. If I was kucked I'd be laughing at the holy folks here (http://www.coh2.org/images/Smileys/huhsign.gif) who were good enough and loving enough to not have any more dough than they decide is what everyone in the world should have.

You will notice they don't feel that way about power and control however just that others shouldn't have any more dough than what they deem to be appropriate. 


(http://www.createaforum.com/gallery/renewablerevolution/3-010215144837.png)

The only power the rich in this world actually have is the power to destroy our biosphere. I am not interested in that form of power. Every cent you have spent on solar power is evidence that you do not buy into the money is power meme, regardless of what you just said.

All the neoclassical economic smoke and mirrors about money and wealth in the "real world" will not help you, or anybody else who wishes to cast "the poor are just envious" aspersions on those who advocate for Natural Capitalism.

You want a viable biosphere, GO. Stop pretending our economic structure has an option to anything but Natural Capitalism.
Title: Re: Money
Post by: AGelbert on June 11, 2016, 08:22:13 pm
Agelbert EXPLANATORY NOTE: GO, short for Golden Oxen, claims to be a good Catholic educated by Jesuits and nuns. RE is calling him out here on the "you lefties just envy my money" GREED he is openly displaying with unwarranted sarcasm, mockery and disdain.

Quote
I just want to interject praise for both RE and Surly (and twenty lashes with a wet noodle to GO and Eddie who are silent as death about the needed lifting of the cap on FICA -Federal Insurance Contributions Act taxes proposed by JD).

Yes three lefties in love with big ideas for my money and Eddies but the cheapest poverty crying zero pockets when it comes to them.

(http://www.sherv.net/cm/emoticons/christian/jesus-leading-flock-of-sheep-smiley-emoticon.gif)I have no need for your money GO, I have plenty.  However, if you go over to Catholic Charities of Boston (http://www.ccab.org/), I am sure they can recommend dozens of families you could help.  They have 3 convenient locations in Boston and one in the Merrimack Valley.  You too can Walk in the Footsteps of Jesus.    (http://www.createaforum.com/gallery/renewablerevolution/3-200714191456.bmp)

Quote
Sorry you guys don't have any dough, but look at the good part, you wonderful guys are going right to heaven when you croak, while Eddie and me head south. Won't heaven be nice, a Lefty paradise of the poor and downtrodden, no bad rich folks there. Hope there will be lots of free beer and nachos and beef jerky by the ton in the big 7/11 in the sky.

(http://www.sherv.net/cm/emoticons/christian/gesturing-nun-smiley-emoticon.gif)I am sure the Nuns who taught you will be disappointed to learn that you have decided to reject the teaching of Christ and instead prefer to spend all eternity with Satan Burning in Everlasting Damnation in the Fire and Brimstone of HELL.  (http://www.createaforum.com/gallery/renewablerevolution/3-311013200859.png)

RE
  (http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png)  (http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png)  (http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png)    (http://www.pic4ever.com/images/4fvfcja.gif)

(https://cdn.meme.am/instances/57678793.jpg)
Title: Re: Money
Post by: AGelbert on June 20, 2016, 06:43:45 pm
Baltic Dry Index Dips Below 600

June 16, 2016 by Reuters

ReutersJune 16 (Reuters) – The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, slipped Thursday as demand for capesize vessels fell.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 6 points, or 0.99 percent, at 598 points.

The capesize index fell 24 points, or 2.4 percent, to 976 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $232 at $6,938.

The panamax index was flat at 545 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $4 to $4,352.

Among smaller vessels, the supramax index rose 2 points to 554 points, while the handysize index fell 1 point to 314 points. (Reporting by Harshith Aranya in Bengaluru; Editing by Martina D’Couto)

(c) Copyright Thomson Reuters 2016.

https://gcaptain.com/baltic-dry-index-dips-below-600-first-time-since-may/
Title: Re: Money
Post by: AGelbert on June 20, 2016, 08:19:40 pm
Baltic Dry Index Dips Below 600

June 16, 2016 by Reuters

ReutersJune 16 (Reuters) – The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, slipped Thursday as demand for capesize vessels fell.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 6 points, or 0.99 percent, at 598 points.

The capesize index fell 24 points, or 2.4 percent, to 976 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $232 at $6,938.

The panamax index was flat at 545 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $4 to $4,352.

Among smaller vessels, the supramax index rose 2 points to 554 points, while the handysize index fell 1 point to 314 points. (Reporting by Harshith Aranya in Bengaluru; Editing by Martina D’Couto)

(c) Copyright Thomson Reuters 2016.

https://gcaptain.com/baltic-dry-index-dips-below-600-first-time-since-may/ (https://gcaptain.com/baltic-dry-index-dips-below-600-first-time-since-may/)

No offense AG, but in all sincerity I have been hearing about this index for ages, was thinking of posting it myself but others beat me to it.

It's been registering disaster for so long I am beginning to wonder about it.

WallMarts around here are full of goods and shoppers, and the stuff on the shelves is all from China.  :icon_scratch: :icon_scratch: :dontknow:

It's an index, GO. There are others. Taken together, they make a picture. Funny money has kept disaster at bay, not CFS. You know that, or should.

At any rate, a down Baltic means less business activity, not "disaster". Are you trying to claim I am peddling 'sky is falling' hyperbole? Because if that's your claim, you are wrong.

I do not believe in the power of positive thinking. Optimism is fine. Ignoring red flags is not. And GO, it's NEVER going to be an all or nothing situation. I have never claimed that, have I?

Lighten up. By the way, thanks for communicating my posts to the long lost Diner member that shall remain nameless. You would have made an excellent fight promoter.  ;)

In the interests of your knowledge about MY objectivity, not that other fine fellow's, please read the following.

Here is the last post I made in my forum on the Alan thread. the fine fellow I directed it at never answered. Perhaps I am being "too unChristianly judgemental", but it seems to me that anybody that claims objectivity about a discussion they left for no apparent reason is lying.

Ashvin,
Here I continue to address your questions with a post from Eddie that I comment on.

Exactly. AS David Wasdell states in the following video, if you wish to actually ameliorate the existential threat from catastrophic climate change, you must use the projected climate condition of about 40 years from now as your target, not what is observed at present. Acting on the present guarantees failure due to the fact that the feedback mechanisms are moving faster than the policies to ameliorate climate change. This is politically very unpalatable. But it is the only approach with science behind it. IOW, if the IPCC predicted 470 ppm of CO2 and a 2 degree C increase by 2055, then drastic action to eliminate any target above that must be taken now.

Of course, that is not happening. Every day that isn't happening makes it more and more difficult to deal with.
 
https://youtu.be/W_aMbM20mbg (https://youtu.be/W_aMbM20mbg)

David Wasdell, Director of the Meridian Programme, is a world-renowned expert in the dynamics of climate change. He is also a reviewer of the International Panel on Climate Change (IPCC) assessment reports and the author of numerous papers and presentations on climate change and related topics.

Kevin Anderson, former Director of the Tyndall Centre (the UK's top academic institute researching climate change), said that a global society (like the one we have now) is not possible with our present level of technology in 4degree C or higher world. And that's where we are going, despite the IPCC figures all revolving about an alleged agreement (with no teeth, no enforcement and all voluntary carbon limits. LOL!) by the piggy countries s of taking measures to keep the planet  below 2 degrees C. Collapse is baked in, so to speak, thanks to government piecemeal incremental measures.

Back to David Wasdell, he clearly and calmly stated that the 30 or so positive feedback loops, if not addressed with absolute limits on carbon output, including even foregoing even biofuels, approximately 80% of life on Earth may die. If that isn't an existential threat, I don't know what is.


Ashvin asked,

What are the chances that scientific technology will progress quickly enough to offer viable solutions (I believe you say this is a very good chance)?'

According to both the scientists I mentioned, we do not have the technology to stop this catastrophe at this time, once the runaway greenhouse positive feedback loops push us past a certain point. Some say we have passed it. Due to the 40 year bake and the paltry government measures being employed, it sure looks that way. Drastic measures to stop emitting CO2 might change that equation.

But it is not realistic to expect governments to engage in them. When large masses of people are dying and a public outcry is sounded, it will be about 40 years too late.

All that said, there are technofix types that claim we just have to put a pack of aerosols up there and cool the planet like volcanic eruptions have partially done in the past. There is evidence that our government has been doing just that since 2000. It doesn't seem to be working. Maybe it's just a conspiracy theory, but some very obvious man made 'cloud' grids have been videoed for some time. And, they are not jet contrails.

Another less messy and much more expensive approach is to block out a portion of the sunlight reaching earth with some giant aluminum vapor coated, 1 mil thick, polyester film a few thousand miles in diameter to cool the planet. But we have no way of knowing whether such a simple solution would not trigger some, even worse, unforeseen climate effect. It certainly is true that the massive sun shield qualifies in the 'any port in the N.T.H.E. storm' category.

But it would do nothing to eliminate the other industrial toxins, unrelated to CO2, that have upped the probability of getting cancer in our lives from 1 in 10 back in 1950 to 1 in 2 (for men) and 1 in 3 (for women) at present. And no, that isn't because we "live longer" ( check the social Security stats and you will find the longevity increase applies to the top 20% wage earners. The bottom 80% "longevity increase" looks like a rounding error.  :P). ; it's because we are subject to more pollutants in our food, air and water from birth than any humans in history. 

We have a plethora of severe problems and the rug the gooberment keeps trying to sweep them under is starting to look like Mount Everest.


-What are the chances that the above technology, or other mitigating policies, will be implemented by corporations and governments which can make a difference when push comes to shove (I believe you say this is a low chance, but quite possible)?

-What are any other known or as of yet unknown factors which may serve to mitigate the destructive trends?


Well, here's the situation, according to Professor Emeritus Richard Somerville  Please note that he is a very conservative scientist. But he makes it clear how serious the urgency is BECAUSE of the limitations of our technology and government reaction times.


(http://www.createaforum.com/gallery/renewablerevolution/3-170915194437.png)
The above graph is discussing the procedure to limit the damage to 2 degrees C. That was in 2013. He explained that the required carbon limits, if not enforced by 2020, will basically be impossible to implement. We are passing by 2015 with no end in site to the INCREASE in carbon pollution.

As he said, once the window is closed, it will remain closed. That is a scientist's way of stating an existential threat. He understands the technology. He understands what will happen when we cannot hope to stop the positive feedback mechanisms from overwhelming reforms. He understands that will head us to 4 degrees C or more. That is a dire threat to our species, and literally millions of other species we share this planet with.



(http://www.createaforum.com/gallery/renewablerevolution/3-170915194933.png)

Notice how the IPCC sea level rise predictions only fit the data at the extreme end. It is not logical to think that they aren't erring on the side of caution. They are. Therefore, only the most extreme scenarios they come up with can be considered 'in the ball park'.

Every time a report comes out, they have to admit that, yeah, the ice melted more than predicted and several other predictions were a bit on the, uh, conservative side. Each report published every 7 or 8 years gets a little more real. Consequently, it is prudent to assume that a worse than their worse case scenario is highly probable.

That is why I believe firmly that mankind faces an existential threat from Global Warming AND all the other industrial pollution factors degrading the biosphere.

That is why I focused initially on extinctions with Alan. When the extinction rate of species in our biosphere is 1,000 to 10,000 the normal background rate of the last ten thousand years (at least!), it's logical to then assume our species faces an existential threat.

This extinction rate cannot be neatly approached as the product of a single cause. Our society is lousy at dealing with multiple causes. It's like we are as bad as crows (they can't count above three).

But  there are thousands of toxic chemicals, radionuclides and aerosols, along with the CO2 damage that have joined together to drown us in our industrial effluents. CO2 pollution is what we should all agree on. As you can see from Alan's posts, even that is like pulling teeth.

Also, there are too many corporations stuck in the incremental measures approach to expect them to own up the their responsibility to future generations. I just posted an article on the good and the bad corporations. But the 'good" are STILL not at 100% renewable energy. And the bad ones are worse than ever. :emthdown:

It's hard to communicate this threat dispassionately. I do the best I can. We are in a world of trouble.

These are the web sites Professor Emeritus Richard Somerville recommends for reliable information. I hang around RealClimate regularly. I have posted articles from RealClimate here during the last year and have recommended it to all readers. They are the ones who are now looking very hard at the meltwater tunneling by supercritical water (liquid water several degrees below freezing due to massive glacier pressures lubricating glacier movement) beneath Greenland glaciers that is NOT addressed in any of the IPCC predictions that David Wasdell discussed.

They cover all the climate bases. RealClimate is staffed exclusively by climate scientists. (http://www.pic4ever.com/images/34y5mvr.gif)


(http://www.createaforum.com/gallery/renewablerevolution/3-170915194705.png)

The above was about 278 days ago. When someone avoids dealing with tough climate change facts, they are deluded and in denial. Adding insult to their delusion, they accuse those providing them with the FACTS of being "deluded". 'Objectivity', MY ASS!

And NO, I am NOT interested in hearing from your PAL, on this channel or my forum ever again. It is a waste of time to deal with people  (http://www.pic4ever.com/images/3ztzsjm.gif) whose only goal in a debate is to puff themselves up through goal post moving, mendacious denial and endless sanctimonious verbal fecal effluent sophistry.

I have some posts to work on now, so excuse me while I get to work.  :coffee:
Title: Re: Money
Post by: AGelbert on June 20, 2016, 08:20:28 pm
Could they be flying the stuff in??

                               (http://1.bp.blogspot.com/-wM_y9LBVggw/UYHLX38P2xI/AAAAAAAADQg/dNmIui-2gJU/s1600/Cargo2.jpg)

You know better than that. The amount of marketable goods moved by air versus those moved by sea and ground is a very small percentage of the total.

Here's my three part article that contains a lot of info on shipping that you may be interested in reading:

Climate Change, Blue Water Cargo Shipping and Predicted Ocean Wave Activity: Three Part Article (http://renewablerevolution.createaforum.com/climate-change/global-warming-is-with-us/msg4045/#msg4045)

Climate Change, Blue Water Cargo Shipping and Predicted Ocean Wave Activity: PART TWO (http://renewablerevolution.createaforum.com/climate-change/global-warming-is-with-us/msg4050/#msg4050)

Climate Change, Blue Water Cargo Shipping and Predicted Ocean Wave Activity: PART THREE (http://renewablerevolution.createaforum.com/climate-change/future-earth/msg4074/#msg4074)
Title: Re: Money
Post by: AGelbert on June 20, 2016, 08:59:45 pm
Agelbert NOTE: EXPECT the fossil fuel industry to try to pass this on to we-the-people, as they usually do.

Business  |  Sun Jun 19, 2016 9:37am EDT


Egypt's Suez Canal charging VLCCs coming from the Arabian Gulf $155,000



(http://www.marinelink.com/images/maritime/SuezTanker-57553.jpg)
Tanker in Suez Canal

Reuters/Mohamed Abd El Ghany
 
Egypt's Suez Canal Authority has set new toll rates for oil tankers as part of a six-month experiment that came into effect on Thursday, it said on its website.

Very large crude carriers (VLCCs) transiting the canal from the Arabian Gulf after discharging at the SUMED oil pipeline will be charged $155,000 if they are carrying more than 250,000 in deadweight tonnage.

VLCCs are to pay $230,000 on their return ballast trip.

 
The canal is one of Egypt's main sources of foreign currency. Egypt has been struggling to revive its economy since a 2011 uprising scared away tourists and foreign investors, other main sources of hard currency.

President Abdel Fattah al-Sisi inaugurated an $8 billion expansion of the canal last year that aims to double daily traffic and increase annual revenue to more than $13 billion by 2023.

http://www.marketbeat.com/stories.aspx?story=http%3a%2f%2ffeeds.reuters.com%2f%7er%2freuters%2fbusinessNews%2f%7e3%2fQcaMTubRNgA%2fus-egypt-shipping-idUSKCN0Z50JO

Have you ever WONDERED what the ballast is in the return trip? It's sea water.

Do you KNOW what they DO with that "ballast' when they get ready to load crude? THAT's RIGHT, they POLLUTE THE OCEAN WITH IT. The "regulations", ESPECIALLY in the Arabian Gulf, designed to FILTER the ballast as it is off loaded are a JOKE.

This is unnecessary as well as extremely harmful to marine life. If you would like to know more about these floating polluters, please read the following.

The truth about OCEAN GOING OIL TANKERS (http://renewablerevolution.createaforum.com/fossil-fuel-folly/fossil-fuel-propaganda-modus-operandi/msg542/#msg542")

We need the fossil fuel industry "business model" like a basket full of dead babies. Enjoy the ride.



(http://www.createaforum.com/gallery/renewablerevolution/3-060714185706.gif)

Title: Re: Money
Post by: AGelbert on June 22, 2016, 06:38:30 pm
(http://www.commonsense.lt/wp-content/uploads/2015/09/money-blackhole.png)

European Central Bank Hones In on Shipping Loans

June 21, 2016 by Reuters

ReutersBy Andreas Kröner

FRANKFURT, June 21 (Reuters) – The European Central Bank is taking a hard look at lenders’ ship financing portfolios amid a broad deterioration in the shipping market, keeping banks on edge about the potential need for more capital and higher loss provisions, five people familiar with the situation said.

The ECB’s banking supervisor sent an email at the end of last week asking a raft of European banks for details of their shipping loans and the status of their loan loss provisions as an “initial step” in a broader review of lending in the sector, one of the sources quoted the email as saying.

“It is a very extensive request,” the source told Reuters.

The ECB declined comment. (Additional reporting by Frank Siebelt in Frankfurt and Jonathan Saul in London, Writing by Jonathan Gould; Editing by Edward Taylor)

(c) Copyright Thomson Reuters 2016.

https://gcaptain.com/european-central-bank-hones-in-on-shipping-loans/
Title: Re: Money
Post by: AGelbert on June 24, 2016, 03:23:48 pm
Can they stop the market rout?  How LOW do we GO?

Good question. Glad I decided to buy some s&p index puts yesterday, question is how long to hold onto them...

Either way I'm really glad a country FINALLY decided to protect their sovereignty and their people.

 (http://www.createaforum.com/gallery/renewablerevolution/3-141113183729.png)

Quote
Glad I decided to buy some s&p index puts yesterday, question is how long to hold onto them...

Only one who is devoid of conscience, and governed by materialistic desires, would brag about taking advantage of a stock market rout on a broad index. Once more you display your Calvinist hypocrisy.  (http://www.createaforum.com/gallery/renewablerevolution/3-141113183729.png)

The next time you want to brag about your financial acumen, I suggest you brag about placing a put on selective, socially irresponsible corporations, instead of a broad index. A put on a broad index might make people believe that your moral compass plays no part in your financial decisions.   (http://www.createaforum.com/gallery/renewablerevolution/3-051113192052.png)

(http://pm1.narvii.com/5869/6a64193d6770c3afd17406c78686c0eda32ded1c_hq.jpg)

Full disclosure: I, A. G. Gelbert,  do NOT own any stock (and I never have).   (http://www.createaforum.com/gallery/renewablerevolution/3-200714191258.bmp)
 

Quote
Either way I'm really glad a country FINALLY decided to protect their sovereignty and their people.

Once more you display your abysmal ignorance of powers structures in human society OR you are deliberately ignoring the corporate power structure MO that has pushed "free trade" legalese like TPP to bypass national sovereignty as if it was not there.  (http://www.createaforum.com/gallery/renewablerevolution/3-311013200859.png)
 
If you had any idea of what this was all about, you would understand that this is a turf battle between elites. But I understand you are quite willing to side with the British elites against the rest of the European elites. If you had any intellectual honesty whatsoever, you would admit that you are just peddling more of your bias as "objective" discourse.

Listen closely, counselor. National sovereignty has been DEAD for several decades. Just like in the USA, the corporate elites now run things through  the "sanctity" of contracts that ethics challenged ass hole lawyers, in a totally corrupted legal system, orchestrate.

This BREXIT vote is smoke and mirrors. The worldwide contract fun and games is the only game in town. Anyone with half a brain, who isn't a lawyer, can understand that.  ;)

Corporate elites now are running human society into the ground. BREXIT does not alter the fascist stranglehold they have on commerce.

You are WRONG, as well as woefully ignorant,  to believe national sovereignty has anything to do with this. 

But go ahead an play at the casino. It displays your "Christian ethics" for all to see.

Feel free to call me, as is your ridicule and derision based wont, a "wide eyed conspiracy theorist". Feel free to claim I am "insulting you" along the way. And don't forget to allege that everything I said IS "RIDICULOUS" AND SHOULD NOT BE TAKEN SERIOUSLY BECAUSE IT IS "CAUSE FOR DESPAIR".

There is always hope for those who think critically. Try it some time. 

Quote
The sin which is unpardonable is knowingly and wilfully to reject truth, to fear knowledge lest that knowledge pander not to thy prejudices.”  - Aleister Crowley

Quote
“People are stupid. They will believe a lie because they want to believe it's true, or because they are afraid it might be true.” - Terry Goodkind
Quote
“We are all born ignorant, but one must work hard to remain stupid.” - Benjaming Franklin

Quote
“But you can't make people listen. They have to come round in their own time, wondering what happened and why the world blew up around them. It can't last.” - Ray Bradbury
Title: Re: Money
Post by: AGelbert on June 24, 2016, 08:13:08 pm
For those, like Ashvin, who find any relationship between BREXIT and the fossil fuel industry plans to Frack the hell out of the UK as "isolated" baloney from people who are "out of touch" with, you know, the "real world"  ;D, please ignore the quote furher below.

I'm sure it is a silly bit of irrelevant cherry picking by hopelessly "doomer" minded folks whose only goal in life is to push "despair"...

Quote
Many climate and energy experts, including Christiana Figures, had been outspoken about the potential danger for EU and UK climate policy if the UK were to leave.

Without the UK involved, it is unlikely that the EU would revise up its current 40% emissions reduction target, experts say.

The ‘leave’ vote and change in government also raises uncertainty about domestic policies.

Craig Bennett, head of Friends of the Earth, said the leave vote was a “red alert” for the environment.

 (News: Politico Pro $, Grist, New Statesman, Reuters, Wall Street Journal $. Commentary: The Guardian, Damian Carrington column; Climate Home, Ed King column; Politico, Sara Stefani column; BusinessGreen, James Murray column; Carbon Pulse analysis $; Climate Home, Robin Webster op-ed)

As you can see, anyone claiming the above most be a "wild eyed conspiracy theorist" and/or a mentally ill chap lacking the proper perspective on da woid...

Or perhaps anyone claiming BREXIT has nothing to do with energy policies and pollution plans are just full of s h i t.

(http://www.createaforum.com/gallery/renewablerevolution/3-100115191314.jpeg)



Title: Re: Money
Post by: AGelbert on June 25, 2016, 04:49:15 pm
Video of Bulk carrier MV Baroque transiting the Panama Canal’s new Atlantic-facing Agua Clara locks from a pilot’s perspective

Quote
Great time-lapse video showing a trial transit of the Panama Canal’s new Atlantic-facing Agua Clara locks from a pilot’s perspective. The vessel is the MV Baroque, a bulk carrier measuring 255m long by 43m in beam, which has been chartered specifically for training purposes in the lead up to the inauguration of the expanded Panama Canal this Sunday.

For southbound transits of the new Agua Clara locks, when entering canal waters vessels will be boarded by two Panama Canal pilots, while two tugboats will be secured to the bow and stern to assist in the approach and full transit of the locks. Two additional tugs will assist on the arrival and entrance to the locks, but will be released before the transit begins.

https://gcaptain.com/time-lapse-onboard-mv-baroque-during-trial-transit-of-expanded-panama-canal-locks/

Agelbert NOTE: To avoid getting dizzy, start at the 57 second mark.  8)

https://youtu.be/rFAEBw3UUVM

Title: Re: Money
Post by: AGelbert on July 05, 2016, 05:40:06 pm
  (http://climatenexus.org/sites/all/themes/climatenexus/logo.png)

DENIER ROUNDUP July 5, 2016

Quote
Fossil Fuel Industry in Denial on Divestment

  (http://www.createaforum.com/gallery/renewablerevolution/3-210316151047.png)
Fossil fueler enjoys his morning coffee

From Brexit’s impact on stocks to the Koch brothers’ campaign expenditures, money is, as usual, a hot topic. Who’s spending how much on what can give important insights into their priorities.

 One such example is the divest/invest movement, which advocates for institutional investors like pension funds or universities to sell their holdings in fossil fuel companies and instead invest in clean alternatives. For the first few years, as the campaign found few wins and rarely reached past college campuses, the industry largely ignored them.

But a  new story in ClimateWire (http://www.eenews.net/climatewire/2016/06/27/stories/1060039410) suggests that the recent successes (U Maryland just last week) have the fossil fuel industry worried.  (http://www.pic4ever.com/images/www_MyEmoticons_com__smokelots.gif)  (http://www.pic4ever.com/images/245.gif)

Chloe Maximin (https://www.thenation.com/article/the-future-of-fossil-fuel-divestment/) of Divest Harvard likens it to the stages of grief, with the industry first in denial about the potential success of the campaign, then anger, and now bargaining.  ;D

Organizing panels, writing op-eds, commissioning multiple surveys and setting up the website DivestmentFacts.com   (http://www.createaforum.com/gallery/renewablerevolution/3-311013200859.png), the fossil fuel industry seems to be taking the divestment campaign pretty seriously. And for good reason, as the list of divesting institutions has grown to encompass a total value of  $3.4 trillion dollars and numerous high-profile divesters.

The main repository of industry pushback is DivestmentFacts.com, which endeavors to “educate” the public about the facts of divestment...as told by the Independent Petroleum Association of America   (http://www.createaforum.com/gallery/renewablerevolution/3-311013200859.png).

Given that their similar project to defend fracking, Energy in Depth, is not only funded by Big Oil, but also guilty of relying on shoddy pseudo-science, it’s unlikely anyone legitimate will take its claims seriously. But the fact that they’ve gone to the trouble of setting up a website demonstrates that they’re growing increasingly worried by the movement’s successes.

And there are good reasons for those divestment wins that have nothing at all to do with the environment. On a purely economic level, divestment makes sense, from avoiding future stranded assets and presently-bankrupt coal companies, to simple metrics of market performance.

For example, a  2015 analysis (https://www.theguardian.com/environment/2015/apr/10/fossil-fuel-free-funds-out-performed-conventional-ones-analysis-shows) found that those who divested from fossil fuels in 2010 would be outperforming those still invested in 2015. A  2016 analysis (http://www.theguardian.com/sustainable-business/2016/mar/04/fossil-fuel-divestment-new-york-state-pension-fund-hurricane-sandy-ftse) found that New York’s pension system would have had an additional $5.3 billion had it divested in 2012, translating to $4,500 for each pensioner.

Funny enough, neither of those two facts appear anywhere on DivestmentFacts.com. Perhaps they haven’t moved out of the denial stage after all, and have instead opted to divest from facts altogether.

(http://pm1.narvii.com/5869/6a64193d6770c3afd17406c78686c0eda32ded1c_hq.jpg)

Agelbert Note: It's not that the fossil fuelers divest from facts altogether; it's that they cherry pick the ones that suit them and discard the ones that expose their profit over people and planet "business model" as a fraud.

  (https://pbs.twimg.com/media/CCi1IdQWYAAcO5Y.jpg)


 
Title: Re: Money
Post by: AGelbert on July 20, 2016, 04:02:22 pm
"We have lost. It's not like we are losing, we have lost that generation."

The future of the Republican Party is "screwed," as one delegate put it after being informed by GOP pollster Frank Luntz that conservatives have "lost" an entire generation of voters.

The comments were overheard by a reporter for the The Hill during a breakfast event Tuesday for the South Carolina delegation to the Republican National Convention (RNC), which is being held this week in Cleveland, Ohio.

"We have lost. It's not like we are losing, we have lost that generation. And I don't care if you are a Democrat, Republican, independent, none of the above. The fact that 58 percent [of millennials] say socialism is the better form of economics, that is the damage of academia," Luntz reportedly said.

Rather than contemplate how a party that has systematically dismantled the rights of women and minorities, and refuses to acknowledge the reality of climate change, is waning in popularity, the prominent conservative pollster blamed the loss on brainwashing by liberal educators.

"The No. 1 priority to me is what happens at universities. And yes, Capitol Hill matters, yes politics matter, but a whole generation is being taught by professors who voted for Bernie Sanders," he continued. "That's a problem that begs for a solution."

Luntz is correct in one regard. Youth voters overwhelmingly flocked to Sanders during his bid for the Democratic nomination, throwing their support behind his platform of free college education, expanded social security, healthcare for all, and a swift transition to renewable energy, among other measures. Even after endorsing frontrunner Hillary Clinton, polls continued to show his support runs deep among millennial voters.

During his talk, Luntz reportedly jabbed Sanders' campaign promises, joking to the delegates: "My goal was to be the secretary of agriculture in the Sanders administration because I wanted to be the one to plant those magic trees that free stuff grows from."

In a May op-ed entitled "Why Millennials Love Bernie Sanders," The Young Turks' Cenk Uygur helped break down young people's fascination with the senator from Vermont. "Millennials are also a massively progressive generation," he wrote. "Sanders is as progressive as they are, but not because he crafted a slick political message to appeal to the younger generation. It's because he is a true progressive who believed in these principles even when they were horribly out of fashion. He fought for them not out of expediency but out of conviction. That’s the thing about authenticity—you can't fake it."

"Are we seriously asking why young people don't like the contrived politicians who are awash in donor money, privilege, and connections?" Uygur continued. "The problem in our politics today isn’t the younger generation. The problem is what the older generations have grown accustomed to and now meekly accept as fact."

Indeed, as one delegate reportedly "muttered under his breath" as Luntz spoke on Tuesday: "We're screwed."

http://www.commondreams.org/news/2016/07/19/were-screwed-gop-pollster-laments-losing-millennial-voters-socialism-and-sanders (http://www.commondreams.org/news/2016/07/19/were-screwed-gop-pollster-laments-losing-millennial-voters-socialism-and-sanders)

"The No. 1 priority to me is what happens at universities. And yes, Capitol Hill matters, yes politics matter, but a whole generation is being taught by professors who voted for Bernie Sanders," he continued. "That's a problem that begs for a solution."

They could hire Turkish President Erdogan as a special consultant.

"We have lost. It's not like we are losing, we have lost that generation. And I don't care if you are a Democrat, Republican, independent, none of the above. The fact that 58 percent [of millennials] say socialism is the better form of economics, that is the damage of academia," Luntz reportedly said.

Wait until the hispanic demographic tide finally starts coming in. They're just now figuring out they can vote for the entitlements they've always just taken for granted heretofore. They are socialists-in-training who just need to have their consciousness raised.

Don't get me wrong. I'd much prefer a functional social democracy to a Republican robber baron feudal state...but the fact is there isn't enough money and energy left to make it work. Too many people being born, not enough working. The math does not work. Sorry.

(http://www.createaforum.com/gallery/renewablerevolution/3-111214174727.png)

"The fact that 58 percent [of millennials] say socialism is the better form of economics, that is the damage of academia," Luntz reportedly said."

It couldn't have anything to do with the fact they have huge student loans to pay off and no job opportunities except as Starbucks Barristas, could it?  What a putz.


Socialism is the only thing that can equitably cut up a shrinking pie.  All the assets of the rich need to be confiscated and then redistributed across the whole population.  Then the medical and pharmaceutical companies need to be nationalized, and only basic medical care provided to everybody.  Then you use supercomputers to determine the total productivity in food production and everyone gets paid the same salary with which to pay for food, clothing and shelter, or you can use ration coupons for this instead.

All able bodied people are required to work.  If you don't have another necessary skill, your main job is in food production, planting urban gardens, feeding pigs and chickens, working in aquaculture plants etc.  All people regardless of job category are required to work for 1 month out of the year in unpleasant "scut work" jobs of the society like trash collection and humanure collection and processing.

Everyone except the current poorest of the poor will have a lower standard of living than they do now.  However, because the wealth of the society is evenly distributed, there will be much less violence, at least as long as everyone has enough to eat.  When there isn't enough food being produced for everyone, then you will see violence again unless you can get some kind of voluntary euthanasia plan going where old people and cripples volunteer to go to the Great Beyond.

RE

Singer daughter's husband put himself through school, graduated three years ago now, with a BA in Music. He grew up in a single mom household and had exactly zero help with college costs.

Last week,he paid off the last of his loans, years ahead of schedule. It is true they lived in my house for a year or so, but they've been paying apartment rent in an expensive rental market for close to two years. He also invested money in a high quality musical instrument, which required him to take on an additional 25k debt. I co-signed, knowing it made sense because the bass was a business asset that made him money. He paid it off long ago.

How? They both work, have no kids, and they made it their number one priority. Now they are saving money, which they will spend while they live in NYC for a couple of years, polishing their musical chops with mentors and coaches (not college) and....working. I expect they'll have the time of their lives.

I have to take all the whining by people who turned themselves into debt serfs over college loans with a grain of salt.

What does this have to do with socialism as a choice for the majority in the millenial generation? ???     (http://www.createaforum.com/gallery/renewablerevolution/3-200714191404.bmp)

Besides that, you can always find individual success stories of Horatio Algers.  What you need to do though is to look at aggregate statistics, not the occasional success story of kids with parents with big McMansions they can live in while paying off their student loans.

Aggregate stats tell us there are $2T in student loans out there, and the main new jobz being created come as bartenders and waitresses.  As you mentioned earlier, these numbers just don't work out.  Sorry.

RE

Everything that RE just said about socialism is logical, accurate and sound.

As usual Eddie calls up the MKing style adjectives (i.e. whining, lazy students wanting a "free lunch", etc. ad nauseum) while lamenting the inequalities of the system out of the other side of his mouth.

And that "sorry, there isn't enough money" bit of empathy defect disordered (and derisively mocking - i.e. I've got mine - f u c k you if you didn't "work" hard enough to get yours) sniping is TYPICAL of a defender of GREED.

Maybe you thought that was cute. Maybe you thought that was humorous and got a chuckle out of writing it. I'm sure MKing would have chuckled for sure.

YOU have this F U C K E D UP IDEA that our Capitalist Profit over People and Planet system is the "best of all possible worlds". It never was. It was always about THEFT of other people's rights and freedoms disguised as "hard work and responsible behavior" for the express purpose of accumulating wealth in the hands of a few at the expense of the many.

I'm NOT sorry, Eddie. Your talking points are tired, as well as tawdry, excuses for logic and reason that the MKings of this world consistently and repeatedly come up with to justify their GREED. 

I know that you could care less what I say.

But you will be proven wrong and RE will be proven right.  Maybe when you have to try to fix your own teeth and a fellow dentist won't touch your mouth for less than $10,000 for the "comprehensive evaluation requiring a full set of x-rays and a four session deep scale root planing", you will begin to understand the value of socialism.

But I doubt it.  :(

“Two centuries ago, a former European colony decided to catch up with Europe. It succeeded so well that the United States of America became a monster, in which the taints, the sickness and the inhumanity of Europe have grown to appalling dimensions”  ― Frantz Fanon, The Wretched of the Earth

'We as a nation must undergo a radical revolution of values… when machines and computers, profit motives and property rights, are considered more important than people, the giant triplets of racism, materialism and militarism are incapable of being conquered.” -- Martin Luther King, Jr. April 4, 1967

There is little a man can do to alter the fact that his special talents are very common or exceedingly rare. A good mind or a fine voice, a beautiful face or a skilful hand, a ready wit or an attractive personality are in a large measure as independent of a person’s efforts as the opportunities or the experiences he has had. In all these instances the value which a person’s capacities or services have for us and for which he is recompensed has little relation to anything that we can call moral merit or “deserts.”  -- F. A. Hayek


“But you can't make people listen. They have to come round in their own time, wondering what happened and why the world blew up around them. It can't last.” -- Ray Bradbury
Title: Re: Money
Post by: AGelbert on August 05, 2016, 04:09:08 pm
Does Sinking Shipping Market Mean End for Ultra-Large Newbuild Orders? ???  (http://www.pic4ever.com/images/128fs318181.gif)

August 3, 2016 by The Loadstar

By Mike Wackett

(The Loadstar) — As ocean carriers reel from a disastrous first half this year, they seem to have lost their appetite for ordering ultra-large container vessels (ULCVs).

(http://floridajustice.com/wp-content/uploads/2015/11/Ship-Size.gif)
(Agelbert NOTE: Graphic added for clarity - "teu" ALSO means Twenty Foot Equivalent)

According to Alphaliner, interest in large containerships of above 9,000 teu “has largely vanished” from shipyards.

Poor market conditions
have already forced several owners to delay the delivery of vessels, the consultant said, noting that about a dozen completed newbuildings “have not yet been commissioned”.

They include five 11,010 teu[/i][/color] ships built by Hanjin’s Philippines Shipyard at Subic Bay, running about 10 months late on delivery as owner Costamare has struggled to secure their long-term employment.

Meanwhile, the world’s biggest containership lessor, Seaspan, has been obliged to significantly delay the October delivery of four 10,000 teu ships under construction at China’s Yangzijiang Shipyard until next year. And CEO Gerry Wang indicated last week, during the company’s interim results presentation, that Seaspan may request further deferrals, into 2018, if charters were not forthcoming.

Alphaliner suggests it could take up to three years for the market to absorb the current containership orderbook, which stands at 3.48m teu.

For the existing fleet, the charter market remains at historically low levels as the capacity oversupply continues, despite the onset of the summer peak season, and a record number of ships having been sold for scrap so far this year.

Alphaliner said the market for classic panamax (4,000-5,100 teu) ships was “getting worse by the day”, with a new record of 75 vessels currently seeking employment, up from 60 that were idle two weeks ago.

The acceleration in the flow of redeliveries of panamax vessels has increased in recent weeks with the upsizing of many Asia-US east coast ships transiting the expanded Panama Canal.

Flexible options, free positioning and hire rates barely above $5,000 a day make grim reading for owners – that is if they can even fix their ships – forcing them into scrapping vessels barely halfway through their expected working lives and that only 18 months ago were able to command daily hire rates of $17,000 or more.

The only bright spots for owners are in the smaller, 2,500, 1,700 and 1,000 teu, sectors, where demand remains reasonable and daily hire rates now exceed those of their bigger sisters.

Meanwhile, the recent negotiations between Hyundai Merchant Marine (HMM) and shipowners provides an insight into the collapse of the containership charter market over the past five years.

After several rounds of tough negotiations, the carrier has agreed deals with most of the owners of its chartered-in containerships to obtain a 20% reduction in charter hire for three-and-a-half years in exchange for equity in a restructured HMM.

In one example, revealed this week, HMM succeeded in cutting the charter hire on five wide-beamed 5,023 teu vessels, supplied by Athens-based Capital Product Partners, to $23,480 a day, from the $29,350 agreed in 2011.

The Loadstar is fast becoming known at the highest levels of logistics and supply chain management as one of the best sources of influential analysis and commentary.

Check them out at TheLoadstar.co.uk, or find them on Facebook and Twitter.


https://gcaptain.com/does-sinking-shipping-market-mean-end-for-ultra-large-newbuild-orders/
Title: Re: Money
Post by: AGelbert on August 22, 2016, 09:28:02 pm
An interesting (straw grasping) defense of greedism by a Professor of Economics  (http://2.bp.blogspot.com/_9HT4xZyDmh4/TOHhxzA0wLI/AAAAAAAAEUk/oeHDS2cfxWQ/s200/Smiley_Angel_Wings_Halo.jpg)

Quote
If all wealthy people acquired their wealth by exploiting others, then whom did J.K. Rowling exploit?

Alex Tabarrok, Professor of Economics, George Mason University
20.2k Views • Upvoted by Joseph Philleo, 2nd Place at National Economics Challenge... Thrice • Yair Livne, Econ PhD from Stanford GSB • Jake Meyer, Claremont Econ Phd Student, International Money and Finance/Global Political Economy

Alex is a Most Viewed Writer in Economic Inequality.


Whom did J.K. Rowling exploit? The question raises fundamental issues of justice. In a famous section of his book, Anarchy, State, and Utopia, the philosopher Robert Nozick challenged egalitarian and other accounts of distributive justice with the Wilt Chamberlain thought experiment. Since Wilt is no longer quite such a public figure as he once was I prefer to use the JK Rowling thought experiment, although the logic of the argument is the same.

Imagine, Nozick says, a perfectly just distribution of wealth. "Just," by whatever standard you choose. Call this distribution D1. Now let us imagine that JK Rowling writes a book and offers this book to anyone willing to pay her $5. Millions of people do in fact pay her $5 for the pleasure of reading her book and as a result JK Rowling becomes very rich.

After JK Rowling writes and sells her book the distribution of wealth is no longer the same as it began. We have moved from D1 to D2. According to the initial assumption D1 was perfectly just so D2 cannot be perfectly just. Yet at what step of the process did an injustice occur? We began with a just distribution and every transaction was voluntary and informed and indeed every transaction made both the buyer and the seller better off. Thus, no one has cause to complain about D2. Even though D2 differs from D1 and involves a lot of inequality it must be a just distribution because it was arrived at by just transactions.

Since Rowling acquired her wealth through a just process, Nozick argues that JK Rowling is entitled to her wealth. Indeed, Nozick argues that all non-entitlement theories of justice must be false. That is, any theory of justice which attempts to establish a pattern (everyone equal is an obvious pattern but remember D1 could have been any pattern) is false because it is clear from the Rowling example that any such pattern could be upset by a set of transactions which itself are just. Thus, Nozick argues that any distribution is just so long as it is arrived at by just means--this is the entitlement theory of justice.

Nozick's argument shows that capitalism does have a theory of social justice, namely the entitlement theory.

See the Internet Encyclopedia of Philosophy for a longer account of Nozick and his arguments.
(http://www.createaforum.com/gallery/renewablerevolution/3-090315203150.png)

Agelbert COMMENT:


" Thus, Nozick argues that any distribution is just so long as it is arrived at by just means--this is the entitlement theory of justice." (http://www.desismileys.com/smileys/desismileys_2932.gif)

The problem is that the definition of "Just means" has been perverted by the unethical capitalist calculus that claims that profit justifies the externalization of costs (e.g. pollution, bailouts, subsidies, etc.) through the corruption of the legal system and the selective enforcement of laws.
 
It is an obscenity to claim a system that provides harsher penalties for grand larceny than for R A P E, while simultaneously providing "subsidies" to polluting industries and bailouts by we-the-people for bankers that defrauded countries of billions, is "Just".
 
Rowling's wealth is an outlier that is statistically insignificant in the overall elite duplicity that claims capitalism does not fleece the poor and middle class on behalf of the empathy deficit disordered elite who are continuously gaming the system and the laws.
 
Honoré Balzac, surveying the rise of the respectable bourgeois in France, pointed out their dubious origins: “Behind every great fortune is a great crime.”
 
The above generalization continues to be valid in most cases.

https://www.quora.com/If-all-wealthy-people-acquired-their-wealth-by-exploiting-others-then-whom-did-J-K-Rowling-exploit (https://www.quora.com/If-all-wealthy-people-acquired-their-wealth-by-exploiting-others-then-whom-did-J-K-Rowling-exploit)
I have a question for Nozick: the paper for those millions of JK Rowling books, did the trees consent to being cut down and made into that paper?
     (http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png)  (http://www.pic4ever.com/images/treeswing.gif)

The amazing ability of these prevaricating and duplicitous credentialed 'people' like Nozik to redefine basic terms like '"just" in order to create their cherry picked defense of greed is another manifestation of evil. Nozik doesn't give a damn about what is right and what is wrong because he HAS NO CONCEPT of right and wrong outside of  'poor = wrong' and 'rich = right'. IOW, it is 'ethical' to be rich for this Nozik greedball.  (http://www.pic4ever.com/images/d2.gif)(http://elqahera-trading.com/home/wp-content/uploads/2012/04/dollar-sign-thumbnail1.jpg)

THIS is the relativist NON-position that these liars bask in so as to defend abhorrent and unethical behavior with some innocent sounding euphemisms or using outlier examples as if they were the norm. This despicable conduct is precisely what I see people like Eddie going out of their way, not only to NOT criticize (in order to avoid exposing the flaws in Capitalism), but to SUPPORT because the 'person' yammering the BS is credentialed. WTF!!?

The FACTS about people who accumulate wealth without regard to ethical behavior speak for themselves. Those who can never get enough money do not want to admit this ideology is ethically bankrupt.

Does Being Rich Make You a Self-Centered Lawbreaker?  (http://www.pic4ever.com/images/128fs318181.gif)

Posted on Mar 18, 2015

Work by social psychologist Paul Piff suggests that the more money people have, the more likely they are to cheat or put their needs before those of others.  :(

Quote

BBC News:

In the past, public perception has tended towards the notion that the very poor are more likely to break the rules because they are under financial pressure and face more difficult circumstances.

But Piff’s work suggests the opposite - that having more money makes you care about others less and feel entitled to put your own interests first…After nearly a decade researching this field, Piff has come to the controversial conclusion that being wealthy, rather than transforming you into a benevolent benefactor, can actually be rather bad for your moral fibre…“It isolates you in certain ways from other people psychologically and materially. You prioritise your own needs and your own goals and become less attuned to those around you.

When we feel wealthy, Piff concludes, we need other people less. In the real world, when people have less money, they rely more heavily on their social relationships to get by. Therefore interpersonal relations are prioritized. The rich, by contrast, can buy themselves peace, quiet and space - plus a solution to most problems. There’s nothing like a fat wallet to cheer you up in a crisis. But that tends to isolate them from others’ experiences.

Follow the link, if you dare  ;), for evidence proving that greed IS BAD for YOU, as well as everyone else in society:


http://www.truthdig.com/eartotheground/item/heres_how_we_know_being_rich_pretty_much_makes_law-breaking_jerk_20150318 (http://www.truthdig.com/eartotheground/item/heres_how_we_know_being_rich_pretty_much_makes_law-breaking_jerk_20150318)

 



Title: Re: Money
Post by: AGelbert on August 23, 2016, 04:09:59 pm
An interesting (straw grasping) defense of greedism by a Professor of Economics  (http://2.bp.blogspot.com/_9HT4xZyDmh4/TOHhxzA0wLI/AAAAAAAAEUk/oeHDS2cfxWQ/s200/Smiley_Angel_Wings_Halo.jpg)

Rowling's wealth is an outlier that is statistically insignificant in the overall elite duplicity that claims capitalism does not fleece the poor and middle class on behalf of the empathy deficit disordered elite who are continuously gaming the system and the laws.
 
Honoré Balzac, surveying the rise of the respectable bourgeois in France, pointed out their dubious origins: “Behind every great fortune is a great crime.”
 
The above generalization continues to be valid in most cases.

https://www.quora.com/If-all-wealthy-people-acquired-their-wealth-by-exploiting-others-then-whom-did-J-K-Rowling-exploit (https://www.quora.com/If-all-wealthy-people-acquired-their-wealth-by-exploiting-others-then-whom-did-J-K-Rowling-exploit)

While I am not unsympathetic to your premise, or the plight of the trees, there IS this:

(https://scontent.forf1-1.fna.fbcdn.net/v/t1.0-0/p480x480/14117784_922458647859216_1864790166339755405_n.jpg?oh=8b62ec3e0e0a970cca7f9e0956ff7ad5&oe=584AA9CB)
Title: Re: Money
Post by: AGelbert on August 23, 2016, 04:13:06 pm
(https://scontent.forf1-1.fna.fbcdn.net/v/t1.0-0/p480x480/14117784_922458647859216_1864790166339755405_n.jpg?oh=8b62ec3e0e0a970cca7f9e0956ff7ad5&oe=584AA9CB)
Which, is just more evidence towards the point, that it is hard to BE a good person and STAY rich.
(http://media.giphy.com/media/HjPbLbmep2aJO/giphy.gif)

Title: Re: Money
Post by: AGelbert on August 24, 2016, 02:08:43 pm
(https://scontent.forf1-1.fna.fbcdn.net/v/t1.0-0/p480x480/14117784_922458647859216_1864790166339755405_n.jpg?oh=8b62ec3e0e0a970cca7f9e0956ff7ad5&oe=584AA9CB)
Which, is just more evidence towards the point, that it is hard to BE a good person and STAY rich.

Rowling became rich via her own work, and never forgot who she is, or where she came from.
Wealthy dynasts are untroubled by such scruples. Or empathy.


 (http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png)
Exactly RIGHT!
Title: Re: Money
Post by: AGelbert on September 16, 2016, 07:24:18 pm
PAGE ONE OF AN EXCELLENT THREE PAGE ARTICLE:

How to Stop Capitalism’s Deadly War   (http://www.createaforum.com/gallery/renewablerevolution/3-070814193155.png) With Nature

Posted on Sep 13, 2016

By Paul Street
Quote


 So far, 2016 is the hottest year on record. So was 2015. So was 2014. (John McColgan / U.S. Department of Agriculture)

Earth scientists now know that the history of our planet has been set for some time in our current geological age, the Anthropocene. According to leading experts Will Steffen, Paul Crutzen and John McNeill, in this era, “human activities have become so pervasive and profound that they rival the great forces of Nature and are pushing the earth into planetary terra incognita. The Earth is rapidly moving into a less biologically diverse, less forested, much warmer, and probably wetter and stormier era.” We are living in a “no-analogue state” in which “the Earth system has recently moved well outside the range of natural variability.”

The new earth epoch bearing its species’ mark and name is nothing for Homo sapiens to hold up with pride. The unprecedented changes introduced by humanity are ecologically unsustainable for decent life on the planet. Thanks to the Anthropocene, the world is now in the middle of “its sixth great extinction event, with rates of species loss growing rapidly for both terrestrial and marine ecosystems. The atmospheric concentrations of several important greenhouse gases have increased substantially, and the Earth is warming rapidly,” according to Steffen et al., bringing us ever closer to the precipice of ecosystem collapse and putting prospects for a decent future at grave risk. The signs are clear to those willing to look: the melting of polar ice and Arctic permafrost, the acid bleaching of global coral reefs, the pronounced warming of the oceans, the drying out of the Amazonian rain forests. All this and more are moving at an unexpectedly rapid pace. Marked by now-predictable epic forest fires and floods, 2016 is the hottest year on record. So was 2015. So was 2014.

The terrible trends and data have led the venerable progressive political scientist and social-justice advocate Susan George to introduce what she calls “a new phenomenon in the history of humankind.” In a recent lecture to the International Centre for the Promotion of Human Rights in Buenos Aires, she names it “geocide,” meaning “the collective action of a single species among millions of other species which is changing planet Earth to the point that it can become unrecognisable and unfit for life.” Humanity, George says, “is committing geocide against all components of nature, whether microscopic organisms, plants, animals or against itself, homo sapiens, humankind.” George is unstinting in her denunciation of the human species: “Homo sapiens has only existed for roughly 200,000 years. The time we’ve spent on this planet compared to its total age is infinitesimally short, just the tiniest sliver of geological time. It amounts to a mere 0.00004 percent of Earth’s existence. And although any given species of plant or animal—vertebrate or invertebrate—tends to last on average about 10 million years, our species seems determined to cause its own extinction, along with the rest of creation, long before its allotted time.”
 
It’s a hard to imagine a more terrible crime. Geocide is bigger than genocide.

(http://3.bp.blogspot.com/-PTo-8AIrRHY/VlScp-JipgI/AAAAAAABL1Q/JR2j7BDE_30/s1600/11-24-2015x.jpg)
(https://collapseofindustrialcivilization.files.wordpress.com/2013/01/capitalism-good-business-sense-leila-la-tres-sage.png)

 
(http://www.createaforum.com/gallery/renewablerevolution/3-020816143445.png)

The “Capitalocene”

But is the culprit really Homo sapiens as a whole? (http://1.bp.blogspot.com/-TzWpwHzCvCI/T_sBEnhCCpI/AAAAAAAAME8/IsLpuU8HYxc/s1600/nooo-way-smiley.gif) The concept of the Anthropocene has rich scientific validity. It holds welcome political relevance in countering the carbon-industrial complex’s denial of humanity’s responsibility for contemporary climate change. Still, we must guard against lapsing into the historically unspecific and class-blind uses of the term “anthros,” and project the recent age of capital onto the broad 100,000-year swath of human activity on and in nature. As the brilliant and prolific environmental historian and political economist Jason Moore reminded Sasha Lilley during a KPFA radio interview in 2015:
Quote
“It was not humanity as a whole that created … large-scale industry and the massive textile factories of Manchester in the 19th century or Detroit in the last century or Shenzhen today. It was capital.”
It is only during a relatively small slice of human history—roughly the last 500 years, give or take a century or so—that humanity has been socially and institutionally wired from the top down to wreck livable ecology.

A compelling case has been made by Moore and other left environmentalists that it is more historically appropriate to understand humanity’s earth-altering assault on livable ecology as “the Capitalocene.” Capitalism has ruled the world since 1600 or thereabouts (by academic calculations), and only during this relatively brief period of history has human social organization developed the capacity and compulsion to transform earth systems. “Geocide” is a capitalist crime, not a transgression of humanity over its long and mostly noncapitalist history.

The Not-So-Golden Age: Capitalism at Its Regulated Best

But when did the Capitalocene really begin? The Industrial Revolution (the starting point for most Anthropocene thinkers) launched in the early 19th century, and capitalism (Moore’s deep culprit) is 500 years old. But it was during the post-World World II era of U.S.-led global corporate monopolies and emergent multinational capitalism that humanity forever altered earth systems in ways that pose grave and fundamental threats to life on the planet. The latest research indicates massive quantitative acceleration of human economic activity around 1950, including “an explosive growth of fossil fuel use,” according to environmental-sciences professor James Hansen and co-authors in an article in Science. This created a qualitative transformation in Homo sapiens’ impact on earth system trends: levels of carbon dioxide, nitrous oxide, methane, stratospheric ozone, surface ocean temperature, ocean acidification, marine fish capture, coastal nitrogen, tropical forest depletion, land domestication and terrestrial biosphere degradation. Leading earth scientists increasingly see what they call this “Great Acceleration” in the post-World War II era as not a new stage but instead as the actual onset of the Anthropocene.

“The brutal truth,” the dauntless ecocide chronicler Robert Hunziker writes in Counterpunch, is “that the prevailing tenure of political, economic neoliberalism, which revolves around profits (http://www.pic4ever.com/images/d2.gif) (http://elqahera-trading.com/home/wp-content/uploads/2012/04/dollar-sign-thumbnail1.jpg), is screwing things up.” But the underlying malefactor behind geocide isn’t merely the neoliberal, deregulated and so-called free market capitalism of the last four decades. It’s the profit system itself. The years of U.S.-led global capitalism that locked in the geocidal Anthropocene emerged from a high-growth, mass-consumerist profits system operating at its regulated, high-functioning, middle class-expanding and vaguely social-democratic, Keynesian best. That not-so-Golden Age brought us to the onset of a grave ecological crisis, what the great left eco-socialist Barry Commoner warned about in his book “The Closing Circle,” written at the end of the postwar boom. It pushed us into an environmental calamity that some leftists, even today, treat as the dysfunctional obsession of doomsday “catastrophists” and as “just one of many concerns and possibly a diversion from the ‘real’ class struggle”—the incisive Australian eco-socialist Ian Angus’ accurate and critical characterization of such horrible reasoning.

http://www.truthdig.com/report/item/how_to_stop_capitalisms_deadly_war_with_nature_20160913

(http://www.createaforum.com/gallery/renewablerevolution/3-080814213147.png)

(http://www.createaforum.com/gallery/renewablerevolution/3-220815161550.png)
Title: Re: Money
Post by: AGelbert on October 14, 2016, 12:50:34 pm
(http://www.newzimbabwe.com/news/images/news_bBRICS.jpg)

(http://www.createaforum.com/gallery/renewablerevolution/3-280416145345.jpeg) BRICS to build fairer global system (http://www.emofaces.com/png/200/emoticons/fingerscrossed.png)

Updated: 2016-10-14 08:28

By Wang Fan(China Daily)
 
President Xi Jinping will attend the eighth meeting of BRICS leaders in Goa, India, from Oct 15 to 16. This will be their first meeting after their informal gathering at the G20 Summit in Hangzhou, East China's Zhejiang province, in early September, and it is a meeting that is of practical importance.

The cooperation of the BRICS members intensified after the onset of the international financial crisis in 2008. In response to the crisis, the BRICS states strengthened their bilateral and multilateral economic and trade cooperation, and they have continued to deepen their cooperation since.

The collective rise of emerging economies and the comparative fall of the developed economies constitute one of the most important phenomena of international politics in the early 21st century.

The BRICS members boast advantages in scale with regard to their territorial areas, populations and resources. They account for 30 percent of the world's land, 43 percent of the global population, 21 percent of the world's gross domestic product and 40 percent of global foreign exchange.

The BRICS states are all big countries in their respective regions and have correspondingly large says and influence in regional affairs.

The cooperation of the BRICS countries is of practical meaning to protect and enhance the interests of emerging economies and developing countries.

With the BRICS members as representatives, the emerging market countries and developing countries have seen marked and rapid increases in their international influence.

(http://www.domain-b.com/economy/worldeconomy/images%5Cbrics_meet_domain-b.gif)


And with a combined population of about 3 billion people, the rise of the BRICS countries is related to the fate of the whole world and humanity. The five countries are expected to play active and constructive roles in setting the global development agenda, climate change negotiations, reform of the International Monetary Fund, and other global topics.

Because the BRICS countries are all major members of the United Nations-China and Russia are both permanent members of the UN Security Council-and cooperative representatives of developing and developed countries in G20, the BRICS members bridge the different camps among countries.

The World Bank, International Monetary Fund and the other regional financial organizations, such as development banks in Asia and Africa, are actually controlled by Western countries, with the United States dominant. The establishment of the New Development Bank of BRICS is therefore significant for establishing a fairer international financial structure.

The New Development Bank is an international financial agency that the BRICS states fund and manage themselves. This is an important breakthrough in the global financial system, one that is promoting transformation of the international financial order, and one that can enhance developing countries' status and voice in the international financial governance.

The bank can help solve the BRICS countries' shortage of medium-and short-term funding, boost their infrastructure construction and economic growth, and reduce their excess reliance on the US dollar, euro and yen.

China plays a special and constructive role in the cooperation among the BRICS countries. It is also an active advocate and supporter of South-South cooperation, and cooperating with developing countries is an important part of China's opening-up strategy.

The cooperation mechanism of BRICS provides an effective way to promote South-South cooperation. China's cooperation with the other BRICS members is conducive to breaking Western countries' trade protectionism and strengthening their coordination on actions to address climate change, prevent the proliferation of nuclear weapons and the fight against terrorism, as well as many other global issues.

BRICS cooperation is not intended to rival current system, but rather aims to seek effective cooperation with the developed countries. The essence of the BRICS' cooperation spirit is openness and inclusiveness.

The author is vice-president of China Foreign Affairs University.


http://usa.chinadaily.com.cn/opinion/2016-10/14/content_27058577.htm
Title: Re: Money
Post by: AGelbert on November 18, 2016, 02:13:34 pm
Energy| Nov. 18, 2016 10:49AM EST


Largest Bank in Norway Sells Its Assets ;D  in Dakota Access Pipeline

Stefanie Spear

http://www.ecowatch.com/norway-dnb-dakota-access-pipeline-2098464180.html


 
Title: Re: Money
Post by: AGelbert on November 29, 2016, 02:29:52 pm
https://youtu.be/KVH2abEp6oM

Richard Wolff: Trumpnomics 101 Is Based On Lies 50 Of Business In China Are American Businesses
Title: Re: Money
Post by: AGelbert on December 01, 2016, 05:52:04 pm
https://youtu.be/w8MFW6SO5hQ

  November 28, 2016

Can Trump's Gangster Capitalism Manage the Global Economy?

Leo Panitch and Paul Jay discuss what the consequences of Trump's plans to deregulate Wall St., reduce taxes, create an infrastructure boondoggle, attack unions and foreign policy adventures will have on the global economy.

http://therealnews.com/t2/story:17802:Can-Trump%27s-Gangster-Capitalism-Manage-the-Global-Economy%3F
Title: Re: Money
Post by: AGelbert on December 16, 2016, 08:02:54 pm
How The Hell Did We Get From FDR To Reaganomics? ???  >:(
https://youtu.be/qUngErr_YuU

http://www.thomhartmann.com/bigpicture/how-hell-did-we-get-fdr-reaganomics
Title: Re: Money
Post by: AGelbert on December 25, 2016, 08:10:10 pm
Gal Alperovitz discusses the Systemic Crisis in the USA

https://youtu.be/otj-bPtYMF0

(http://www.garalperovitz.com/wp-content/uploads/2013/03/Alperovitz-300-dpi-5x7.jpg)

Quote
Sep 30, 2016

Next System Project co-chair Gar Alperovitz speaks with activists from all over the world on our global political-economic system, how it came to be, and why the ...

https://youtu.be/UvyLY2Vtai4
Title: Re: Money
Post by: AGelbert on December 26, 2016, 06:49:31 pm
Published on Dec 17, 2016

The Twilight of Democracy by Tariq Ali


Tariq Ali discussion on the ideas outlined on his book The Extreme Centre: A Warning, during this years Festival of Dangerous Ideas.

What is the point of elections if result is always the same ??? : a victory for the extreme centre?

Since the end of the Cold War, politics in affluent Western democracies has become a contest to see who can better serve the needs of the market.

Rather than left and right parties representing genuinely different policies, they have converged to create a global economic order where deregulation, free trade, privatisation and market-driven solutions hold sway.

Whether voters agree or not, these things are a given, creating a massive disenchantment with government and a huge challenge to democracy.

Is this political wisdom or suicide?

Stan Grant (Chair)


https://youtu.be/Rw4zu_yGglg
Title: Re: Money
Post by: AGelbert on December 27, 2016, 06:27:02 pm
(http://ecx.images-amazon.com/images/I/512YH2NoeFL._SL300_.jpg)

Agelbert Note: Blythe predicted the rise of Fascism in Europe and the USA as a response to Austerity. We are there.  (http://www.createaforum.com/gallery/renewablerevolution/3-310714182509.png)


Mark Blyth – Austerity: The History of a Dangerous Idea 

Roosevelt House Public Policy Institute at Hunter College   

Published on Feb 23, 2015

https://youtu.be/in5M65566iw

Join us at Roosevelt House for a timely conversation about one of today’s most urgent policy questions – whether government spending is reckless wastefulness, as many argue, or whether the policy of draconian budget cuts has failed. In his acclaimed book Austerity: The History of a Dangerous Idea, Mark Blyth, professor of international political economy at Brown University, demonstrates how and why the global turn to austerity, the policy of reducing domestic wages and prices to restore competitiveness and balance the budget, hasn’t worked.

In conversation with Andrew J. Polsky, Acting Dean of the College of Arts and Sciences and professor of political science at Hunter College, Professor Blyth will discuss recent examples of a policy that he shows has failed for a century. While it makes sense for any one state to try and cut its way to growth, Blyth argues, it simply cannot work when all states try it simultaneously: all we do is shrink the economy. In their discussion, professors Blyth and Polsky will examine why the arguments for austerity are tenuous and why austerity policy has almost always led to low growth and to increases in wealth and income inequality. They will also discuss how to counteract these trends with effective economic policies for the future.




Title: Re: Money
Post by: AGelbert on December 27, 2016, 09:04:24 pm
Published on Mar 11, 2014


Author and professor at Brown University, Mark Blyth discusses his book, "Austerity: The History of a Dangerous Idea" (Oxford University Press, USA, 2013). Commentators on the panel: Alex Gourevitch, Postdoctoral Research Associate, Political Theory Project and Sharon Krause, Political Science, Brown University.

In "Austerity: The History of a Dangerous Idea," Blyth demolishes the conventional wisdom, marshaling an army of facts to demand that we recognize austerity for what it is, and what it costs us.

https://youtu.be/Xz4FW8GDwG4
Title: Re: Money
Post by: AGelbert on December 29, 2016, 06:57:21 pm
How Trump Could Bring on the Crash of 2016

https://www.youtube.com/watch?v=3klabW-pptk
Title: Re: Money
Post by: AGelbert on December 30, 2016, 02:16:36 pm
(http://renewablerevolution.createaforum.com/gallery/renewablerevolution/3-301216162944.png)

This is killing America
(No one can disprove any of it)
https://youtu.be/KaUOJ4qikNc

Published on Dec 25, 2016

This shows exactly how the bankers manipulated the system to their advantage and made every person in the U.S. their slaves. We can revolt, and can take this country back in one week if we choose. We need to spread the word, organize, and act before it's all gone.
Title: Re: Money
Post by: AGelbert on January 04, 2017, 08:23:07 pm
Universal Basic Income
https://youtu.be/u7Tj7Jm1yJQ

Big Picture Interview: Writer Matt Bruenig, Law & Poverty Expert will explain where it’s working. Is solving poverty as simple as giving money to poor people?
Title: Re: Money
Post by: AGelbert on January 06, 2017, 03:30:00 pm
I think there is no reason why we should not be able to feed, clothe, shelter, educate, and provide medicine for all people on Earth regardless of their abilities.  I think we have the technology now, and we still have the energy, to do this.

The problem is that the monetary system isn't designed to do this.  It's designed to sieve wealth from one portion of the population to another portion through a variety of Criminal Rackets.  The rackets are everywhere, Banking, Accounting, Stock Trading, Insurance, Medicine, Dentistry, Law, Manufacturing to name a few.  If you're not born into wealth, in order to make a lot of money you need to insert yourself into one of these rackets and have good criminal skills to get the money from the marks and into your pocket.

The biggest and most successful criminals are generally those at the top of the Banking Racket or Stock Racket or Real Estate Racket.  Generally you can't get quite as filthy rich in the other rackets, although a few in the manufacturing racket such as Bill Gates do as well.  You know somebody is a criminal racketeer simply by looking at how much money they make.  The more it is, the bigger the criminal they are.

Here is the FSoA Income Distribution Chart:


(http://planete-mars.com/wp-content/uploads/2016/09/Nouvelle-image-2.png)

As you can see, the Median Household Income is $49,445.  Everybody making more than that is some type of criminal in some criminal racket.  Mostly misdemeanor crimes until you pass into the top 10%, then you have felons. At the very top .01% you have Crimes Against Humanity.  Everybody below the Median is a Victim of these Criminals.

Now, in order to rectify the situation and bring Justice to the system, what you would need to do is clawback all the stolen money from above the median and redistribute it down to below the median, which would take a MASSIVE taxation effort, which will never happen as long as the folks above the Median run the political show.  Which of course they do.

Now, over in Finland they're doing an experiment with 2000 Unemployed people of providing them with a no questions asked Basic Universal Income of around $800/month I believe it is (converting from Euros).  I don't know what the cost of living is in Finland, but this might be just enough to put a roof over your head and food on your table.  You can still try to find work and if you do you make more money than just the basic income.  They're trying to see if this helps with the disincentive to get off the dole if only part time work is available.

What's the problem here?  There are many.  First off, if you scaled up this program for all Fins, it would cost a fortune and the taxation would be through the roof.  Second, once everyone has this basic income, then prices of food and rents start to get jacked up by the criminals in control of those rackets.  So the money the state just gave you ends up right back in the hands of the same criminals!  And round and round we go!   In order to prevent this, you would have to have state enforced price controls on all the basics, housing, food, transportation etc.

At this point of course, you are at Full On Communism.  At this point also, why bother using money at all for these basics?  Simply give everyone a free apartment, make all the food free, all medical care free and all the buses and trains free.  In order to pay the costs for that, you then tax the criminals who are stealing money on more discretionary items.

As you can see, this also has a lot of problems and demonstrates why monetary systems developed to manage large populations and why they work the way they do.  They reward the criminals at the top at the expense of the victims at the bottom.  You can't have a just system once you introduce money into the equation, which is WHY it is the Root of All Evil.

RE

Title: Re: Money
Post by: AGelbert on January 11, 2017, 05:34:02 pm
You won't believe where 9 Trillion Dollars went

Casey's DAD    107,462 views

https://youtu.be/eacl4v0dS1U

Published on Dec 4, 2016

This is the problem with a central bank in the United States. All of these balance sheets reflect the payouts to the elite every year.
Title: Re: Money
Post by: AGelbert on February 12, 2017, 12:42:49 pm
(http://renewablerevolution.createaforum.com/gallery/renewablerevolution/3-281216181536.jpeg)

https://youtu.be/cs0BfPDvUQg

How Trump Filled The Swamp
 
 
corbettreport 

Published on Feb 3, 2017

SHOW NOTES AND MP3: https://www.corbettreport.com/?p=21637

With promises to "drain the swamp!" (http://www.pic4ever.com/images/ugly004.gif) still ringing in our ears, we have watched Trump appoint nothing but Goldman banksters, Soros stooges, neocon war hawks and police state zealots to head his cabinet. Join us this week on The Corbett Report as we examine the swamp-dwellers with which Trump has filled his swamp.

Agelbert NOTE: The only thing missing from this mostly accurate report is its rather blatant failure to list the MASSIVE influence of the Profit over Planet Swamp Creatures from the Fossil Fuel Industry in the Trump SWAMP. That is the one blind spot Corbett has. He simply cannot handle the reality of CO2 caused catastrophic climate change, even though he connects the corruption dots in most Business As Usual poisonous practices. The "subsidies" that the fossil fuel industry milks out of we-the-people worldwide amount to BILLIONS of dollars annually. Yet somehow this THEFT never makes it to Corbett's radar. Why is that? ???

Quote
Exxon-Mobil and Lee Raymond who was at the Company from 1963-2005 was the person who started the cover-up of climate change. Lee Raymond has also been on the Board of Directors when JPMorgan/Chase committed all their criminal acts leaving that company with a Rap Sheet a mile long. $20 BILLION in fines, but NO-ONE went to jail for all the financial burdens and losses JPM/CHase caused millions of people. Chase is still illegally foreclosing on homes.

Another person on the Board of Directors for Exxon is William Weldon who is also on the Board for JPMorgan/Chase. Weldon was the CEO at Johnson & Johnson during the production and sales of the TOXIC TALC that is causing cancer in so many women.

Jamie Dimon head of JPM/Chase walks around scot-free from the long Rap Sheet of Criminal Acts that were instigated by him. Now Jamie Dimon is out promoting the "Millions in Grants" that JPM/Chase is giving to communities and for scholarships for education ~~~ BUT ~~~ Dimon does NOT explain that this is STOLEN money from illegal home foreclosures, from illegal criminal acts, benefitting the bank.

These men have NO consciences, they are a narcissistic group of men with no morals, who only think of MONEY and GREED and Trump is at the top of the list with his egomaniac personality who will give these men a clearance to destroy for their own personal benefit.  Gerry Lednicky Seger

Quote
"The fossil fuel industry swallows up $5.3 trillion a year worldwide in hidden costs to keep burning fossil fuels, according to the International Monetary Fund (IMF).
 
This money, the IMF noted, is in addition to the $492 billion in direct subsidies offered by governments around the world through write-offs and write-downs and land-use loopholes.

In a sane world these subsidies would be invested to free us from the deadly effects of carbon emissions caused by fossil fuels, but we do not live in a sane world. "  -- Chris Hedges

(http://www.createaforum.com/gallery/renewablerevolution/3-270716175152.png)

(https://collapseofindustrialcivilization.files.wordpress.com/2013/11/snap-2013-11-06-at-14-31-28.png)


Title: Re: Money
Post by: AGelbert on February 17, 2017, 07:24:07 pm
 February 16, 2017

Upward Distribution of Wage Income Behind Social Security's Shortfall

CEPR's Dean Baker says Republicans often omit the role of stagnant wage growth in the discussion around the growing deficit in this social insurance program.

https://youtu.be/a82-Hnb4eac

http://therealnews.com/t2/story:18407:Upward-Distribution-of-Wage-Income-Behind-Social-Security%27s-Shortfall
Title: Re: Money
Post by: AGelbert on February 18, 2017, 08:07:59 pm
https://youtu.be/EQqDS9wGsxQ

They're Lying To You
     
Economists insist that recovery is at hand, yet unemployment remains high, real estate values continue to sink, and governments stagger under record deficits. Author Richard Heinberg proposes a startling diagnosis: humanity has reached a fundamental turning point in its economic history.

 This brilliant animation, produced by the Post Carbon Institute, explains that with the Industrial Revolution rapid growth became normal. Economists pointed to innovation, increased trade, division of labor. But it was mostly a result of cheap energy. We could do more than ever before with cheap coal and gas. Economists assumed the absurd notion that growth could go on forever.

 The economies of the wealthiest nations started stagnating years ago, as resources began to run out. Governments, businesses and households went into hock up to their eyeballs gorging on easy credit. The financial system created ever more complex securities and derivative schemes to soak up all that debt and make perpetually rising profits on imaginary assets.

 The mother of all bubbles burst in 2008 - and we have not headed toward "recovery". And recovery to what? More bailouts, debt, more consumerism and resource depletion?

 We can live without economic growth but we'll have to start doing a few things differently. Those very things are expressed in videos in all the categories right here on Nextworldv!

 --Bibi Farber

http://www.nextworldtv.com/videos/new-economy/who-killed-economic-growth.html
Title: Re: Money
Post by: AGelbert on February 26, 2017, 02:53:34 pm
(http://renewablerevolution.createaforum.com/gallery/renewablerevolution/3-260217143301.png)

How government promotes inequality
  (http://www.pic4ever.com/images/mocantina.gif)

Published on Mar 19, 2015

Award-winning author and investigative journalist David Cay Johnston will explain how income disparity has increased in the United States, even as the economy has recovered from the great recession. For more information about the Thomas S. Foley Institute and our sponsored events, please visit foley.wsu.edu .

https://youtu.be/VApBedmawnM

Agelbert NOTE: The money quote from the above video is not just how much the fossil Fuel Industry games the energy playing field against clean energy for we-the-people, although that is one my concerns.

MONEY QUOTE (When you read it, please remember that David Cay Johnston is NOT a liberal; he is a Registered Republican):
Quote
"It's not trickle down economics; it's Niagara UP economics designed to take from the masses to further enrich the few." -- David Cay Johnston
Title: Re: Money
Post by: AGelbert on March 03, 2017, 01:16:30 pm
(http://emilysquotes.com/wp-content/uploads/2016/01/If-you-think-the-economy-is-more-important-than-the-environment-try-holding.jpg)


Published on Sep 16, 2016
Prof J Kroth: Is America on the brink? - September 16, 2016
https://youtu.be/wRmrwVqdg9U

Prof. Jerry Kroth, a psychologist, looks at that question. What brings down an Empire?

Kroth looks at things slightly differently from financial pundits and stock market gurus. Instead of economics, he looks through the prism of social science. Which country produces over 80% of hard core p o r n in the world? Which country has the highest rate of r a p e? What is the truth behind horror films or reality shows such a Fear Factor?

For example, while Mr. Trump continues to claim that Climate Change is just Chinese propaganda, what toll is Climate Change, and its ensuing natural disasters since 1982, actually having on the US?

Using anthropologist, Jared Diamond and historian Arnold Toynbee's seven major factors leading to societal collapse, Kroth asks how the U.S. stacks up on those seven factors. The report card is awful, and the current situation foreboding to the extreme. Data comes from his new book, Implosion: delusion, denial, and the prospect of collapse More info at collectivepsych.com
Title: Re: Money
Post by: AGelbert on March 04, 2017, 02:11:20 pm
The Man Who Predicted Trump Now Predicts He Will Fail  (http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png)

https://youtu.be/J8QPDdydC2c

Title: Re: Money
Post by: AGelbert on March 04, 2017, 02:25:46 pm
Economist Who Predicted Brexit & Trump Brilliantly Explains Capitalism's Collapse
https://youtu.be/-K8bf6dbYt4

Agelbert NOTE: Professor Mark Blyth gets it: Capitalism is basically Socialism for the parasitic rich and the shaft for everybody else. We need Socialism for ALL.

See below:

Published on Mar 11, 2014

Author and professor at Brown University, Mark Blyth discusses his book, "Austerity: The History of a Dangerous Idea" (Oxford University Press, USA, 2013). Commentators on the panel: Alex Gourevitch, Postdoctoral Research Associate, Political Theory Project and Sharon Krause, Political Science, Brown University.

In "Austerity: The History of a Dangerous Idea," Blyth demolishes the conventional wisdom, marshaling an army of facts to demand that we recognize austerity for what it is, and what it costs us.

https://youtu.be/Xz4FW8GDwG4
Title: Re: Money
Post by: AGelbert on March 05, 2017, 03:24:29 pm
(http://afge1273.org/pics/Hiring%20Freeze.png)
Quote
President Trump’s across-the-board federal hiring freeze is particularly damaging to veterans, who rely heavily on the government for jobs once they leave military service.

Trump’s Hiring Freeze Puts Veterans Out of Work

J. David Cox Sr. 
 March 1, 2017
 
SNIPPET:

President Trump made a special point on the campaign trail of pledging his support for veterans, yet his government-wide hiring freeze delivers a double whammy to the nation’s military veterans. Not only do veterans now face staffing shortages at VA medical facilities and benefits offices, but their main source of employment—the federal government—is drying up.  :(

Jay Cadmus, a 30-year-old Air Force veteran, had been struggling for months to find a full-time job after completing a decade of active duty. He was ready to start work on February 5 at a defense civilian agency in Salt Lake City when the word came down that his start date had been postponed indefinitely, due to the federal government’s hiring freeze.

Robert Banks is in a similar predicament. A disabled Army veteran, Banks, 44, has worked numerous jobs in the federal government—most recently helping disabled veterans with prosthetics at the Grand Junction VA Medical Center in Colorado. Eager to move closer to his daughter, Banks accepted a position in January with the Naval Undersea Warfare Center in Newport, Rhode Island. Only after quitting his VA job and driving east did he learn that his new job was on hold due to the hiring freeze.

Cadmus and Banks are not the only veterans losing out on job opportunities under Trump. Across the country, scores of veterans who have served the nation with honor and distinction are discovering just how much harder it is to get a job thanks to the federal hiring freeze that Trump ordered January 23 as one of his first official acts.

Why is the federal hiring freeze causing such hardship for our military veterans? Simply put, the federal government is the nation’s largest single employer of veterans. Nearly one-third of all federal employees are veterans—about 623,000.

Federal agencies hired 71,000 veterans in fiscal 2015 alone, including 31,000 disabled veterans. The government increased its hiring of veterans from 31 percent to 33 percent between fiscal years 2013 and 2014. Not coincidentally, 2014 was the first year since 2009, when President Obama established a program to increase veterans’ employment, that the federal government hired more workers than it let go.

Simply put, the number one engine getting veterans back to work in the United States is the federal government. When government jobs dry up, so do veterans’ employment leading opportunities.

Trump’s hiring freeze couldn’t come at a worse time for veterans. The unemployment rate for veterans who have served since 9/11 hit 6.3 percent in January, up from 4.4 percent in September. (That’s compared with 4.8 percent unemployment in the population as a whole.) Around half a million veterans currently are unemployed, and more than a million are underemployed.


Full article:

http://prospect.org/article/trump%E2%80%99s-hiring-freeze-puts-veterans-out-work
Title: Re: Money
Post by: AGelbert on March 06, 2017, 08:28:15 pm
 (http://therealnews.com/t2/templates/gk_twn/images/logo3.png)

March 6, 2017

High Frequency Trading in the Trump Era    (http://www.pic4ever.com/images/pirates5B15D_th.gif)

White-collar criminologist Bill Black sits down with the Real News to spell out how the ballooning HFT industry works exactly, and where it's headed under President Trump.(http://renewablerevolution.createaforum.com/gallery/renewablerevolution/3-270117175421.png)

https://youtu.be/_Z1IrOazGVw

http://therealnews.com/t2/story:18589:High-Frequency-Trading-in-the-Trump-Era

(http://www.ragingpencils.com/2011/10-24-11-the-one-percent.gif)
Title: Re: Money
Post by: AGelbert on March 06, 2017, 08:54:40 pm
 (http://therealnews.com/t2/templates/gk_twn/images/logo3.png)

Agellbert NOTE: Don't miss this excellent 5 part interview where Professor Hudson exposes Orwellian Doublethink (I call it mindfork!) used to confuse us so the plutocratic parasites (http://www.pic4ever.com/images/acigar.gif) can continue to steal from we-the-people.  (http://www.pic4ever.com/images/2z6in9g.gif)



'J is for Junk Economics': Michael Hudson on TRNN (1/5)

Michael Hudson, author of the newly released 'J is for Junk Economics,' says the media and academia use well-crafted euphemisms to conceal how the economy really works.

https://youtu.be/hD-EivBIvJE



'J is for Junk Economics': Michael Hudson on TRNN (2/5)

 Trump's infrastructure plan will privatize all the benefits for the financiers and make sure that the population at large gets zero benefit from it while paying the costs, says economist Michael Hudson.

https://youtu.be/JBQt8EbNALA



'J is for Junk Economics': Michael Hudson on TRNN (3/5)


Trump is planning to turn the U.S. economy into a Russian-style kleptocracy, says economist Michael Hudson.

https://youtu.be/cOk208Rvms8


March 3, 2017

'J is for Junk Economics': Michael Hudson on TRNN (4/5)


Economist Michael Hudson takes on the mythology surrounding government budgets and explains how the term 'stability' has been used as a cover for financial fraud.

https://youtu.be/cQmrg8cIjdQ



March 4, 2017

'J is for Junk Economics': Michael Hudson on TRNN (5/5)

Economist Michael Hudson explains why social security does not need to be 'pre-funded' by its beneficiaries.

SHARMINI PERIES: It's The Real News Network. I'm Sharmini Peries, coming to you from Baltimore.

   I'm speaking with Michael Hudson about his new book "J Is For Junk Economics: A Guide to Reality in the Age of Deception".

   Thanks for joining me again, Michael.

MICHAEL HUDSON: Good to be here.

SHARMINI PERIES: So, Michael, on page 260 of your book you deal with the issue of social security and it's a myth that social security should be pre-funded by its beneficiaries. Progressive economic taxes should be abolished in favor of a flat tax. Just one tax rate for everyone you say. We talked about this earlier but let's apply what this actually means when it comes to Social Security.

MICHAEL HUDSON: The mythology is to try to convince people that after all, if they're the beneficiaries of social security, it should be pre-funded. Well, that's like saying that you're the beneficiary of an education, you have to pay for the schooling. You're the beneficiary of healthcare, you have to pay for that. You're the beneficiary of America's military spending, that keeps us from being invaded next week by Russia, you have to spend for all that.

Where do you draw the line? Nobody really anticipated in the 19th century that people would have to pay for their own retirement. This was viewed as an obligation of society and you had the first pension social security program in Germany under Bismarck. And the whole idea is social security is a public obligation. There are certain rights of citizens and the rights should be after your working life you deserve a retirement. And you have to be able to afford this retirement and not have to beg in the street for money. So the wool that's been pulled over people's eyes is to imagine that because they're the beneficiaries of social security they have to actually pay for it.

And this was Alan Greenspan, a trick that he pulled basically in the 1980s when he was head of the Greenspan Commission. He said, "Let's achieve what we need to do in America. We need to traumatize the workers. We need to squeeze them so much that they will never have the courage to strike. Never have the courage to ask for better working conditions. Let's really squeeze them and the best way to do it is to very sharply increase their taxation. But we won't call it a tax. Of course it's a tax, but we will say it's not a tax, it's your contribution to your social security." And now this is 15.4% of everybody's pay check. It comes right off the top. What Greenspan did was say, "Let's make the wage earners, as a whole, pay this FICA cut out of their pay check every month, let's lend it to the government and now with all of this huge surplus that we're squeezing out of the wage earners there's a cut-off point now." The cut-off is around 120,000. Rich people don't have to pay for the social security funding, only the wage earner class has to. This is lent to the government to actually enable the government to say, "We have so much extra money in our budget pouring in from social security that now we can afford to cut taxes on the rich."

So the sharp increase in social security tax for the wage earners went hand-in-hand with the sharp reduction in the taxes on real estate, on finance and on the ... TA(?) part of society. The people who live on economic rent, not by working, not by producing goods and services but by making more money on their real estate, on their stocks and bonds in their sleep. And that's how the five percent have basically been able to make their money.

So the whole idea that social security has to be funded by the beneficiaries has all been a setup for them to claim now, we can't afford to pay any of the money because the budget doesn't have enough money. Social security's running a budget and after running a surplus since 1933, for 70 years, now we have to begin paying it out, that's the deficit, that's the disaster, we have to begin cutting back social security. What Donald Trump is saying we want wage earners to have to starve in the street after they retire.

   The federal reserve has just published statistics saying the average American families, 55 and 60 years old, only has about $14,000 worth of savings. This isn't enough. The whole idea is there's been a vast looting of pension funds, very largely by Wall Street and that's why the investment banks have had to pay tens of billions of dollars of penalties for cheating the pension funds. The current rate of return risk-free is 0.1% on government bonds so the pension funds don't have enough money to pay pensions. So the idea is that what people thought there was going to be available for their retirement, all of a sudden isn't.

There are so many corporate pension funds that are going bankrupt that the Pension Fund Guarantee Corporation doesn't have enough money to bail it out. It's in deficit. And if you're going to be a corporate raider, if you're going to be a Governor Romney or whatever and you take over a company, you do what Sam Zell did with the Chicago Tribune, you loot the pension funds, you empty it out to pay the bond-holders that have lent you the money to buy out the company and you say, "I'm sorry there is nothing there. It's wiped out." Half of the employee stock ownership programs have gone bankrupt. That was already a critique made in the 1950s and the 1960s.

In Chile, the Chicago boys, who really developed this program, University of Chicago economists, made it possible for the Chilean who privatized and who privatized the social security system, to set aside a pension fund managed by the company, mostly they invested in its own stock. The company would then set up an affiliate that would actually own the company under an umbrella then leave the company with the pension fund to go bankrupt having already emptied out all of the pension fund and a loan to be a corporate shell.

So it's all a shell game basically for this. And there's no social security problem whatsoever. Of course, the government has enough money to pay social security. That's what the tax system is all about. But if you do what Donald Trump does and you say we're not going to tax the rich and if you do what Alan Greenspan did and we're not going to make rich people even contribute to the social security system, then, of course, it's going to show a deficit. It's supposed to show a deficit when people retired. It was always intended to show a deficit but now that the government actually isn't using social security surpluses to make the pretense that you can afford in the budget to cut taxes on the rich  (http://2.bp.blogspot.com/_9HT4xZyDmh4/TOHhxzA0wLI/AAAAAAAAEUk/oeHDS2cfxWQ/s200/Smiley_Angel_Wings_Halo.jpg)   (http://www.createaforum.com/gallery/renewablerevolution/3-051113192052.png), now they're baiting and switching. (http://www.createaforum.com/gallery/renewablerevolution/3-311013200859.png) So it's basically part of the shell game and explaining that myth is partly what I tried to do in my book. (http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png)

SHARMINI PERIES: And if the rich people don't have to contribute to the social security base, are they able to draw on it?

MICHAEL HUDSON: They will draw social security up to the given wage that they didn't pay social security on, which is up to $120,000 these days. So yes, they will get the little bit but all of the real wealth, the people that make more than $120,000, all that is completely exempt from the social security system. What they have done are the rich people who run the corporations give themselves golden parachutes.

And even for the companies that have engaged in massive financial fraud, the large banks, City Bank, Western Union -- all of these have golden parachutes. They still are getting enormous pensions for the rest of their lives. And they're talking as if, well, the pensions are in deficit, corporate pensions, but that's because the corporate pensions, for the leading officers, are quite different from the pensions to the blue-collar workers and the wage earners as a whole, so again, there's a whole kind of fictitious economic statistics that are used in the dictionary is mathy-ness(?). The idea that if you can put a number on something it's somehow is scientific and the number you put on is realistic when it really is the product of corporate accountants and lobbyists reclassifying income in a way that it doesn't appear to be income.

And somehow taking money out and giving it to the richest 5% and making it appear as if all this deficit is the problem of the 95%, that's blame the victim economics. And you could say that's the way that the economic accounts are being presented by congress to the American people is a blame the victim economics. >:( That it's your fault social security's going bankrupt and it's all a mythology of saying we should not treat retirement as a public obligation just as we should not treat healthcare as a public obligation. We should have the highest healthcare costs in the world so that out of your pay check, which is not increasing, you're going to have to pay more and more for FICA withholding for social security, more and more for healthcare for the pharmaceutical monopoly and the health insurance monopoly. More and more to use public services for transportation to get to work because the state is not funding that anymore because we've cut taxes on the rich and so we don't have the money to do it. And you're going to privatize the roads so now you're going to have to pay to use the road to drive to work if you don't have public transportation.

So you're turning the economy really into what used to be called feudalism. Except we don't have serfdom, people can live wherever they want, but they all have to pay to this new sort of hereditary financial real estate public enterprise class that is transforming the economy.

SHARMINI PERIES All right, Michael. Many, many, many things to learn from your great book, "J Is For Junk Economics: A Guide to Reality in the Age of Deception". Michael is actually on the road promoting the book. So if you have an opportunity to see him at one of the places he's going to be speaking you should check out his website, michaelhudson.com

   And so I thank you so much for joining us today, Michael. And, as most of you know, Michael Hudson is also a regular guest on The Real News Network and we'll be unpacking his book and some of the concepts in it on an ongoing basis. So please continue to stay tuned for those interviews.

   Thank you so much for joining us today, Michael.

MICHAEL HUDSON: Pleasure.

SHARMINI PERIES: And thank you for joining us on The Real News Network.

http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=18584


(http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/20160504_feudalism.png)
Title: Re: Money
Post by: AGelbert on March 20, 2017, 05:23:12 pm
Enjoy this timeless financial wisdom Published on Sep 24, 2015  (http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png)


Michael Hudson, Financial Parasites Like Libertarian Peter Schiff
https://youtu.be/6PgilZn7eZU
Title: Re: Money
Post by: AGelbert on March 20, 2017, 06:37:19 pm
(http://www.createaforum.com/gallery/renewablerevolution/3-200415182528.png)


Modern Money & Public Purpose 1: The Historical Evolution of Money and Debt

https://youtu.be/0zEbo8PIPSc

Published on Sep 22, 2012

Moderator: William V. Harris, William R. Shepherd Professor of History and Director, Center for the Ancient Mediterranean, Columbia University

Speaker 1: L. Randall Wray, Research Director of the Center for Full Employment and Price Stability and Professor of Economics, University of Missouri-Kansas City

Speaker 2: Michael Hudson, President, Institute for the Study of Long-Term Economic Trends and Distinguished Research Professor, University of Missouri-Kansas City

Tuesday, September 11, 2012

About the Seminar Series:

Modern Money and Public Purpose is an eight-part, interdisciplinary seminar series held at Columbia Law School over the 2012-2013 academic year. The series aims to present new perspectives and progressive policy proposals on a range of contemporary issues facing the U.S. and global macroeconomy. Seminars will feature a mix of academics and practitioners on topics ranging from the history of debt and money and the structure of the financial system to economic human rights for the 21st century.

http://www.modernmoneyandpublicpurpos...

(http://40.media.tumblr.com/tumblr_lwx7wy0tIK1qd9a66o1_500.jpg)

Title: Re: Money
Post by: AGelbert on March 23, 2017, 09:24:46 pm
How Class Works by Dr. Richard Wolff

https://youtu.be/euH3pAuLuko

(http://www.ragingpencils.com/2011/10-24-11-the-one-percent.gif)

Marxism 101: How Capitalism is Killing Itself with Dr. Richard Wolff

https://youtu.be/6P97r9Ci5Kg

Published on Mar 22, 2016

Despite a concerted effort by the U.S. Empire to snuff out the ideology, a 2016 poll found young Americans have a much more favorable view of socialism than capitalism.  (http://www.pic4ever.com/images/128fs318181.gif)

Though he died 133 years ago, the analysis put forward by one of the world’s most influential thinkers, Karl Marx, remains extremely relevant today. The Empire’s recent rigged presidential election has been disrupted by the support of an avowed socialist, Bernie Sanders, by millions of voters.

To find out why Marx’s popularity has stood the test of time, Abby Martin interviews renowned Marxist economist Richard Wolff, Professor Emeritus of Economics at UMass - Amherst, and visiting professor at the New School in New York.

Prof. Wolff  (http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png) gives an introduction suited for both beginners and seasoned Marxists, with comprehensive explanations of key tenets of Marxism including dialectical and historical materialism, surplus value, crises of overproduction, capitalism's internal contradictions, and more.
Title: Re: Money
Post by: AGelbert on April 03, 2017, 09:51:38 pm
Agellbert NOTE: Professor Hudson exposes Orwellian Doublethink (I call it mindfork!) used to confuse us so the plutocratic parasites (http://www.pic4ever.com/images/acigar.gif) can continue to steal from we-the-people.  (http://www.pic4ever.com/images/2z6in9g.gif)

D@W Exclusive: Michael Hudson on Junk Economics

Michael Hudson, author of the newly released 'J is for Junk Economics,' says the media and academia use well-crafted euphemisms to conceal how the economy really works.

https://youtu.be/k6y35aO_fpU

Published on Apr 2, 2017

D@W's Paul Sliker and Dante Dallavalle talk with author and economist Michael Hudson, one of the world’s six economists who accurately predicted the 2007-2008 financial crisis. His new book, J is for Junk Economics, reveals how the mainstream economic vocabulary has been turned around in an Orwellian way to mean just the opposite of what words used to mean. Michael explains how the media and academia use well-crafted euphemisms to conceal how the economy really works, the economy under Obama vs. Trump, and what might be coming next.

Help us reach 50,000 subscribers! SUBSCRIBE and share this video with friends.

For more from d@w visit our website: www.democracyawork.info
Title: Re: Money
Post by: AGelbert on April 10, 2017, 08:43:27 pm


Is There a Crisis of Capitalism When Private Companies Cause Car Accidents to Make Money?   

(https://s-media-cache-ak0.pinimg.com/236x/8b/30/b3/8b30b31e87dddef823ce634725ac42d3.jpg)

https://youtu.be/LjECWtCAlYA

Thom Hartmann Program

Published on Apr 10, 2017

Thom covers a story of private red light camera companies purposely shortening yellow light times to increase ticket revenue, but are they putting human lives at risk to make a quick, predatory buck?

Title: Re: Money
Post by: AGelbert on April 13, 2017, 07:18:08 pm
Global Capitalism April 2017: Trump’s Big Economic Plans Fade

https://youtu.be/7WafQakqZIc

Democracy At Work   

Published on Apr 13, 2017


Help us reach 50,000 subscribers! SUBSCRIBE to our channel and suggest our channel to friends.

Special thanks to this month's sponsor: John O'Sullivan of Ludlow, England. To sponsor an upcoming episode visit: www.democracyatwork.info/sponsor
--

Global Capitalism: "As Trump’s Big Economic Plans Fade, What's Next?" with Richard D. Wolff

Co-sponsored by Democracy at Work, Left Forum & Judson Memorial Church
Wednesday, April 12th 2017 at 7:30pm

Judson Memorial Church (239 Thompson Street at Washington Square, Manhattan)

These programs begin with 30 minutes of short updates on important economic events of the last month, then Wolff analyzes several major economic issues. This month, these issues will include:

1. Two connected failures: to repeal Obamacare, to get “tax reform”

2. The injustice of the US tax system (in honor of April 18 tax due day)


3. The economics of the US-China link and its bumpy contradictions


Our goal: To develop all participants’ understanding and ability to explain current economic events and trends to others. We open the floor to questions and comments when time permits.


Agelbert NOTE: More proof that Capitalism is actually Robin Hood IN REVERSE.   (http://www.pic4ever.com/images/pirates5B15D_th.gif)

And yes, the tax system is part and parcel of the socially destructive Capitalist mens rea modus operandi. Did you know that Yale University doesn't pay property tax on its GOLF COURSE (no classes are held there, sports fans)? Did you know that, BECAUSE OF THAT, the poor and middle class of New Haven have to FUND the police, fire department, etc., that the YALE STUDENTS, FACULTY (AND THEIR CHILDREN) USE?   


Title: Re: Money
Post by: AGelbert on April 24, 2017, 09:43:39 pm
Maritime Flags of Convenience Visualized

August 20, 2016 by John Konrad

(http://3kbo302xo3lg2i1rj8450xje.wpengine.netdna-cdn.com/maritime/blog/wp-content/uploads/2007/06/bubble-chart-merchant-marine.png)

http://gcaptain.com/maritime-flags-of-convenience-visualized/

Agelbert NOTE:
The following is from May 12, 2012. But it's still rather BUSY out there now. I'm looking forward to the day when all that shipping STOPS.  (http://www.pic4ever.com/images/301.gif)
(http://renewablerevolution.createaforum.com/gallery/renewablerevolution/3-240417213401.jpeg)
This Mesmerizing Interactive Map Displays Ship Movements Across the Globe

April 22, 2017 by Mike Schuler

http://gcaptain.com/this-mesmerizing-interactive-map-displays-ship-movements-across-the-globe/
Title: Re: Money
Post by: AGelbert on April 25, 2017, 05:43:15 pm

Russia Leaving Global Banking System: Dumping US Dollar for Gold

AnonHQ

Russia is one of the more powerful nations in the world.  With the power, however, comes enemies. One of its enemies has a slight financial hold over Russia, and that power comes in the form of Dollars. The relationship between the east and west is now at a stalemate; Moscow’s reaction to western encroachment and accusations comes from President Vladimir Putin, who has proposed to withdraw the Russian state from the international banking system, moving towards a more traditional gold-based system.

Russia isn’t alone in this. BRICS nations such as Brazil, India, China, and South Africa are all planning their exit from the international banking mafia for more financial independence.

However, for President Putin, the threat came in the form of the Worldwide Interbank Financial Telecommunication system, or the SWIFT system, which allows easy transfer of money internationally, such as via American express. The problem, however, is the international banks are threatening to bar Russian access from this system if they leave the ‘big club.’

Many economists have informed the world leaders of the consequences facing them if they remove Russia from the SWIFT system. Ewald Nowotny, an economist and a policy maker for the European Central Bank highlighted how if Russia is removed from the SWIFT system international companies conducting business in Russia will be the first to suffer.
global banking

However, according to Elvira Nabiullina, a Russian economist and former economic advisor to President Putin and the head of the Central Bank of Russia, if Russia is removed from the Worldwide Interbank Financial Telecommunications then Russia’s banks won’t collapse. She explained how they have devised a new system that will continue operations in the SWIFT format and will work as an alternative for the country.

According to a report published last year, more than three hundred banks in Russia have adopted the SWIFT alternative – the System for Transfer of Financial Messages, or SPFS as the Russians call it.

Furthermore, to enhance the SPFS system, Russia’s Central Bank’s first international branch in Beijing was opened, and the Chinese opened a financial institution in Russia to strengthen the financial relationship between the two nations and the beginnings of the ‘de-dollarization’.

As for the Federal Reserve and other international financial institutions that trade in non-physical currency and futures, and all other riskier practices; are now buying bulk quantities of physical gold – leaving their old practices behind.

According to Mac Slavo who writes for SHTFplan, the NGOs ran by Soros have been questioned and kicked out, along with Rothschild establishments.

“It seems that only all out war will ever settle these power plays for the dominance or death of the U.S. petrodollar, which is ultimately controlled by the same few hands that steer and control the central banks of nearly all the world’s nations,” wrote Mac Slavo. “Only by stealth and monotony have these activities remained in the shadows.”


Thank you for that extremely important news, AZ.
(http://www.createaforum.com/gallery/renewablerevolution/3-080515182559.png)

That is interesting. You know AZ, any serious study of 90% PLUS of every bellicose action the U.S. has initiated will reveal that the main reason behind those actions were, and are, forcing anybody and everybody out there to accept the "full faith and credit" of fiat ex-nihilo created currency by the plutocrats (i.e. THE MOST DEFENDED counterfeiting racket in history).

What Russia just did is fightin' words for the U.S. corporate crook fascist bastards ruining the place.



There may not be a banking system after next week.

El Diablo Blonde Pompadour  may tell the fed to **** themselves.


Are you kidding? Trumpelthinskin worships the ground the Fed defecates on.  :P

The only way the banking system disappears is if the bankers want it to (temporarily while nuclear war decreases 90% of the population).

NASA says they are working on a cool greenhouse gizmo to keep astronauts fed in space. I'll betcha the plutocrats already have several working versions of that to enable them (in theory  ;) (http://www.pic4ever.com/images/ugly004.gif) bankers are greedy, but not particularly intelligent) to live in their bunkers while we-the-people get wasted.      (http://www.createaforum.com/gallery/renewablerevolution/3-200714191329.bmp)

NASA is designing small away-from-home-ecosystems to make space exploration sustainable

Last updated on April 25th, 2017  at 1:45 pm by Alexandru Micu

(http://cdn.zmescience.com/wp-content/uploads/2017/04/nadia_in_deployable_grnhse_may_09-a-1.jpg)

http://www.zmescience.com/science/nasa-greenhouse-sustainability/ (http://www.zmescience.com/science/nasa-greenhouse-sustainability/)

Title: Re: Money
Post by: AGelbert on May 03, 2017, 03:08:47 pm
Class Warfare Breaks Out In Philly  (http://philadelphia.cbslocal.com/2017/05/02/vandals-target-properties-cars/)

Trashing a strangers property is not justice.  When the FBI pretends to be anarchists plywood is already in the basement ready to board up the windows.  The means to pay the glaziers the next day is already worked out. 
.
.
.
Social control.  Keep the haters hating.

Trashing a strangers property is not justice. 

Yes it is, it is a form of retribution for the inequity of the distribution of wealth.  It matters not who the "stranger" is, only that the stranger is displaying an inordinate amount of wealth.  So you get payback for his greed by destroying his wealth.  That is Justice.

For those of you who are against the idea of Capital Punishment for the Rich, this is certainly a better solution, and probably would be a worse torture for them than death itself.

RE

I'm torn by this.  On the one hand I feel as you do RE.  On the other, at this point in my life, if I could be rich, I would be. 

Money, money, money...it's always about the fuckin' money and whether you have enough of it or not.  GM lamented the other night about this because apparently I feel the same way about money that her father did, and he blew his head off in the end. 

Do I want to be concerned about money?  Hell no, but then who really does want to be?  That's why we want a lot of it...so that we don't have to be concerned with having enough.  If you don't have enough than it's a constant concern.  As time moves forward we will definitely have more of this type of behavior.  The more the unequal divide between haves and have-nots grows the more chances we'll have for this type of lashing out.  The more desperate people get the more desperate measures they will take for some type of justice. 

I learned at 18 years old, while studying "criminal justice" in college that there is no justice.  In fact, this realization was the beginning of the end of my college career.  I lost interest in studying criminal justice after 18 hours of classes on the topic.  What was the point in learning how to pretend that there is such a thing as justice in our system?  The cops get them and the lawyers get them off, pending they have the  money that is.  Now the cops mostly don't even get them, at least not the ones that deserve to be gotten.  Now the cops mostly get the down trodden and desperate, the mentally abused, the non-violent drug offenders, and the innocent, and then they are forced into legal slavery via a for profit private prison industry.  What type of behavior would you expect in return? 

The economic non-persons continue to grow, as do the refugees.  This while the rich get even richer, and the divide between haves and have-nots grows even more as a society.  In real terms this divide is bigger now than it has ever been.  Albeit it's hard to tell when there is free entertainment and cheap beer.  I expect to see more of this type of behavior as we move forward.  I imagine most of those involved really don't have much to lose, and so why not lash out and get some justice for yourself.  They damn sure aren't going to get any justice any other way because they can't afford to get it. 

And there it is again!  You have to be able to afford to be the change just as you have to be able to afford to buy your legal justice.  Otherwise you resort to vandalism. 


LD,
Your worthy thoughts are discussed and paraphrased in detail in a famous book. If you have not read Les Misérables. please do. The cop in the story is the K-Dog type of character. Those types are very inflexible, lack empathy and are quick to demonize the desperate downtrodden as "criminals" while they look the other way when the privileged elite criminals (who sanctimoniously and perpetually demand that the government defend their "property rights")  cynically and deliberately destroy the property rights of the poor by toxic pollution zoning and racist police activity ONLY in poor neighborhoods, along with destroying the dignity of the poor by requiring them to work for unjust subsistence wages[/i]).

I am sick to death of cherry picking bigots who see only what they want to see and play word games to avoid facing the objective truth that our society is about as sick and odious as it can get BECAUSE of those that run it, not because of those victimized by it.


(http://i.gr-assets.com/images/S/compressed.photo.goodreads.com/hostedimages/1455250276i/18078296._SX540_.jpg)
Les Misérables by Victor Hugo
Quote
Upton Sinclair described the novel as "one of the half-dozen greatest novels of the world," and remarked that Hugo set forth the purpose of Les Misérables in the Preface:[3]

So long as there shall exist, by reason of law and custom, a social condemnation, which, in the face of civilization, artificially creates hells on earth
, and complicates a destiny that is divine with human fatality; so long as the three problems of the age—the degradation of man by poverty, the ruin of women by starvation, and the dwarfing of childhood by physical and spiritual night—are not solved; so long as, in certain regions, social asphyxia shall be possible; in other words, and from a yet more extended point of view, so long as ignorance and misery remain on earth, books like this cannot be useless.   (http://cliparts.co/cliparts/Big/Egq/BigEgqBMT.png)

https://en.wikipedia.org/wiki/Les_Mis%C3%A9rables

(https://i.ytimg.com/vi/_An6iCCo62M/hqdefault.jpg)
(https://allthoughtsworkoutdoors.files.wordpress.com/2011/08/p9047017-030close-up.jpg)
Title: Re: Money
Post by: AGelbert on May 04, 2017, 02:17:40 pm
https://www.rt.com/usa/387052-puerto-rico-bankruptcy-promesa/ (https://www.rt.com/usa/387052-puerto-rico-bankruptcy-promesa/)
‘Breaking point’: Puerto Rico files for historic $70bn bankruptcy
4 May, 2017

The Commonwealth of Puerto Rico is seeking the largest municipal bankruptcy filing in US history, after failed negotiations with creditors over its $70 billion debt crisis. That’s more than four times the debt Detroit collapsed under.

On Wednesday, the Financial Oversight and Management Board for Puerto Rico announced they had moved to place the US territory into federal bankruptcy court, making it the largest entity of the US government to seek refuge from creditors in the courts in history.

Chairman of the Oversight Board José Carrión said the filing was made to “provide a method for the Commonwealth and its instrumentalities to achieve fiscal responsibility and access to the capital markets,” according to a press release.

US territories are barred from filing for a traditional bankruptcy like most US cities or states. Last year, Congress approved the Puerto Rico Oversight, Management and Economic Stability Act (PROMESA) to address the impending financial crisis Puerto Rico was already facing.

Under the PROMESA bill, the oversight board and the Title III process were created. Title III, which is similar to the Chapter 9 bankruptcy, allows Puerto Rico and other US territories to restructure their debt under the supervision of a federal judge.

The announcement came a day after major creditors sued Puerto Rico over defaults to its bonds. The Commonwealth held several meetings with creditor representatives to come to an agreement. However, on Monday at midnight, a temporary court stay that protected Puerto Rico from lawsuits expired and negotiations were ended.

“We have sustained our position to negotiate in good faith, but before the current scenario, we choose to protect our people,” Puerto Rico Governor Ricardo Rossello said in a tweet Wednesday.

Rossello sent a letter to the Financial Oversight and Management Board on Tuesday, saying he hopes the Title III proceedings will “accelerate the negotiation process, leading to as much creditor consensus where possible and achieving where necessary a prompt and efficient judicial resolution of any issues or disputes.”

Ted Hampton, an analyst at Moody’s Investor Service, says the bankruptcy process is a “positive step.”

"Although a court proceeding will take considerable time and likely involve losses for all Puerto Rico bondholders, it will be an orderly process," Hampton says.

On Wednesday, the oversight board declared the Commonwealth was “unable to provide its citizens with effective services,” according to court filings obtained by The Deal.

That document shows Puerto Rico’s 10-year recession has led them to declare a “fiscal and socioeconomic crisis without precedent” in its history. Since 2007, the Commonwealth said it has seen a 14 percent decline in gross national product, a 23 percent decrease in employed persons and a 10 percent drop in population.

According to the US Census Bureau, 46 percent of Puerto Rico’s residents live below federal poverty levels, compared to the national average of 14 percent and 36 percent in Detroit.

Puerto Rico has approximately $74 billion of bond debt and $48 billion of unfunded pension liabilities. The previous largest public bankruptcy in the US was set by Detroit in 2013 when it declared a total of $18 billion of bond debt and retirement obligations.

“The result is that Puerto Rico can no longer fully pay its debt and pay for government services. Nor can Puerto Rico refinance its debt—it no longer has access to the capital markets,” the oversight board said in the court filing. “In short, Puerto Rico’s crisis has reached a breaking point.”

Puerto Rico’s current fiscal plan sets aside $800 million a year for debt payments, however, it is only a fraction of the $35 billion it owes in interest in payments over the next 10 years. The cost of fully paying off their debt would be around $3.5 billion a year
.

I wanna know who is holding PR bonds?  Somebody is going to have to take a lot of write downs.


https://youtu.be/Qy6wo2wpT2k

RE


People who do not know about what happened in Puerto Rico and WHY it happened should not post about Puerto Rico.

The Palloy post is not objective. People are dying because of this unrestrained Capitals Asset Stripping.

And this ain't no musical, RE.

Objectivity in posting on this subject dictates that you endeavor to explain how Puerto Rico was DELIBERATELY made a cash cow by Wall Street starting over 100 YEARS ago. The first fascist f u c k POTUS assigned to "govern" Puerto Rico at the beginning of the 20th century became a millionaire (in money of THAT TIME!) by "arranging" the laws so he could OWN all the sugar lands, set up a corporation, and sell sugar to the continental US - Puerto Rico and Cuba were the MAIN source of refined sugar to the US back then.

But in the middle 1950's Wall Street decided to REALLY get serious about asset stripping the place and began a gigantic "tax free" bond scheme.  For over half a century, retirement funds all over the USA have PROFITED from that bond scheme while the island economy was steadily impoverished.

Finally, the Ponzi scheme reached the point where the fraud became visible to all. So NOW, all the bought and paid for fascist bastards in the Banco Popular de Puerto Rico that now RUN that benighted island (a "BOARD" of NON-elected bankers that makes ALL the financial decisions on the Puerto Rico debt - a debt those same bankers made millions off of in fees  (http://www.createaforum.com/gallery/renewablerevolution/3-311013201314.png)) have decided that SOMEBODY has to take up the slack for all those "irresponsible" poor and middle class Puerto Ricans who "allowed" all that debt to accumulate. LOL!

It's the Greek trick all over again, of course.   (http://www.createaforum.com/gallery/renewablerevolution/3-311013201314.png)

Please Doomstead Diners, stop blaming the victim. Puerto Rico has NEVER been actually allowed to govern itself. This is not their fault. This is the fault of asset stripping crooks in Wall Street and their lackeys in Puerto Rico, PERIOD.

RE,
That musical West Side Story left out the part about the repeated use of Puerto Ricans in Puerto Rico as test subjects for measuring the effects of a plethora of chemical toxins on humans.

It also leaves out the part about the massive amount of pollution from pharmaceutical corporations running wild down there.

Then there are the radionuclides in the water off of Vieques... The cancer rate is through the roof down there.

The wages are s h i t down there.

People have shorter, and more miserable life spans down there BECAUSE of all this empathy deficit disordered FOR CAPITALIST PROFIT activity down there.

It's not funny, RE; it's trajic.  :(
Title: Re: Money
Post by: AGelbert on May 04, 2017, 02:43:47 pm
The current PR crisis has a lot to do with Big Pharma.


Puerto Rico's Pharmaceutical Industry 'Terminally Ill'
Mon, 11/19/2007 - 4:59am
by Michael Melia, Associated Press Writer

CIDRA, Puerto Rico (AP) — First to go was a factory that produced generic drugs. Next, a pharmaceutical supply company said it would close. Then, GlaxoSmithKline PLC said last month it would shut its plant in this central Puerto Rico city.
 
Many people in Cidra now fear their hillside city, which has depended on pharmaceutical manufacturing for more than 30 years, is terminally ill.
 
''This is going to be pretty bad for a lot of people,'' said Frank Ortiz, a 42-year-old construction worker sitting in a cafe near the gated GlaxoSmithKline campus.
 
Cidra, a city of about 50,000, is not alone its sense of looming dread. The pharmaceutical industry appears to be in retreat across Puerto Rico — long a global hub of drug manufacturing thanks to tax breaks and the territory's unfettered access to the U.S. market.
 
Over the past 18 months, five major drug manufacturing plants have either closed or announced plans to do so, eliminating 3,000 relatively high paying jobs. The closures are a largely a result of higher energy costs, changing tax rules and industry consolidation.
 
Industry experts predict Puerto Rico is in danger of losing its position as one of the top five global drug-making centers unless the island offers better incentives and shifts more toward research as companies seek more sophisticated production methods.
 
''We are very good at manufacturing pills, but the pharmaceutical sector in its own way has been changing in the last few years,'' said Deepak Lamba-Nieves, research director for the Center for the New Economy, an independent think tank in Puerto Rico.
 
The island's pharmaceutical industry, which still produces 13 of the 20 best-selling drugs in the United States, gained dominance in the 1970s with the help of U.S. incentives. It accounts for a quarter of the island's gross domestic product, with $36.5 billion in annual exports.
 
Some of the losses have been offset by new investments in biotechnology — a related industry that Gov. Anibal Acevedo Vila has courted aggressively, marketing the territory as ''Bio Island'' and developing special tax breaks for research and development.
 
In addition to Cidra plants owned by Teva Pharmaceutical Industries Ltd. and GlaxoSmithKline, the other companies that have closed or announced plans to shut plants are Schering-Plough Corp., Watson Pharmaceuticals Inc. and Bristol-Myers Squibb Co.
 
As they look for slack in global supply chains, many companies find Puerto Rico is no longer a bargain due to changing tax structures and the cost of electricity supplied by oil-fired power plants.
 
For Watson, which makes generic drugs, the cost of operating a factory it closed in Humacao this year was comparable with plants in Corona, Calif., and Carmel, N.Y.
 
A company spokeswoman, Patty Eisenhaur, said Watson would have had to expand its plant in Humacao, on Puerto Rico's southeastern coast, to make it financially viable.
 
At least three of the plants that are closing also were facing pressure from the Food and Drug Administration to make investments to resolve quality control problems.
 
In 2005, GlaxoSmithKline agreed to fix deficiencies that allowed tablets of Paxil, a treatment for depression, to split apart before reaching consumers. At the nearby Teva plant, acquired through a recent takeover of Ivax Corp., inspectors last year found drugs contaminated by manufacturing or cleaning equipment.
 
The U.S. tax breaks that transformed Puerto Rico from an impoverished, agrarian society to a manufacturing hub offered the best deals for companies that moved to depressed areas outside the capital.
 
Wage credits gave companies incentives to create the maximum number of jobs under section 936 of the U.S. Internal Revenue Service — approved by Congress in 1976 to allow companies to send profits to the U.S. with minimal taxes.
 
Since section 936 expired last year and companies are reducing the size of their workforces, a cloud of uncertainty has formed over small cities where pharmaceuticals have clustered including Cidra, Manati and Barceloneta.
 
''There is pain, sadness and even fear,'' said the mayor of Cidra, Angel Malave Zayas, whose city will lose $2.8 million in annual taxes and 900 jobs from the GlaxoSmithKline plant alone.
 
The companies that run the remaining pharmaceutical manufacturing plants, which employ more than 20,000 people, have kept their taxes low in many cases by declaring their operations here as foreign corporations, allowing them to take advantage of local tax structures.
 
But with a local law governing industrial tax breaks due to expire next year, some critics say lawmakers' inability to agree on a renewed version so far is making investors nervous and driving away business.
 
''We are losing time, we are losing momentum and we are being negatively hit,'' said Elizabeth Plaza, president of the local consulting firm Pharma Bio-Serve Inc., which recently opened a branch in Ireland.

https://www.manufacturing.net/news/2007/11/puerto-ricos-pharmaceutical-industry-terminally-ill (https://www.manufacturing.net/news/2007/11/puerto-ricos-pharmaceutical-industry-terminally-ill)



AND (http://www.createaforum.com/gallery/renewablerevolution/3-301014182447.gif)

I provide a historically accurate post and you post about the whining of the pharmaceutical industry. SHOW ME the profits from 50 years of pollution and being the NUMBER ONE suppler of valium (until via gra made there TOO took its place) and THEN we can TALK about the "jobs" and other allegedly "nice things" the pharmaceutical exploiting assholes provided for Puerto Rico.

An ENTIRE TOWN had to be evacuated near Humacao because Elli Lilly lied about WHAT THEY LEFT IN THE SOIL THERE to the developer who built a housing community on it!

Your post lacks objectivity because it focuses on the present while ignoring the pollution filled past.

I see that my plea for empathy for the people of Puerto Rico has fallen on deaf ears. (http://www.desismileys.com/smileys/desismileys_2955.gif)  (http://www.desismileys.com/smileys/desismileys_2953.gif)

(https://collapseofindustrialcivilization.files.wordpress.com/2013/11/snap-2013-11-06-at-14-31-28.png)
Title: Re: Money
Post by: AGelbert on May 04, 2017, 05:26:06 pm
Quote
Wampum, ke`kwuk, squau-tho-won; all are Algonquian words for shell beads or string of shell beads. Wampumpeage is a Narragansett word for "white beads strung". Throughout northeastern America, wampum was used for jewelry, gifts, communication, historical record of important events, religious ceremonies, and trade. It was the earliest form of currency known in North America. Its value was derived from the difficulty involved in producing the cylindrical bead from both Quahog and Whelk, and the scarcity of suitable shells. White beads were made from Whelk, purple-blackish from Quahog.

The beads were produced from the inner spiral of the shells. The spiral or column must be thick enough to withstand grinding, shaping and drilling. The shells were collected along the coastal shores during the summer, and worked in the winter months. The inner spirals were cut into cylinders measuring 1/4 inch long by 1/8 inch diameter. Each bead was then smoothed through grinding, polished, drilled, and finally strung on hemp fibers or sinew. It was difficult, tedious, and time consuming work. The proportionate scarcity of the Quahog dark beads doubled their value to that of white wampum.

http://www.mohicanpress.com/mo08017.html (http://www.mohicanpress.com/mo08017.html)

She sells seashells by the seashore. If she sells seashells by the seashore, how many seashore shells does she sell? This old tongue twisting pronunciation trainer underscores step one in the manufacture of Wampum. You needed a supply of a certain, special and very attractive type of Calcium Carbonate, which was limited in quantities, to begin to do WORK=ENERGY INPUT plus some ARTISTIC CREATIVITY on the seashells in order to produce a CURRENCY that was BOTH a medium of exchange AND a store of value.   

(http://upload.wikimedia.org/wikipedia/commons/thumb/8/8e/Wampum_ej_perry.jpg/300px-Wampum_ej_perry.jpg)
Wampum

In a barter economy, the transfer of goods and services from one party to another is hindered by the lack of liquidity of say, an animal, a bear skin or whatever. The lack of a medium of exchange that can be subdivided into small enough units for both parties to make up perceived different values in a barter transaction is the need that fosters the creation of "money" in the first place.

Wampum was initially a form of artistic expression as well as a form of communication (it was a store of value as jewelry and venerable truth through news and agreements).

However, as the quantity gradually increased and most natives agreed more or less on its value, wampum began providing the liquidity that a barter economy could not.

Consequently the Native Americans along the eastern area of North Amerca gradually adopted wampum as a currency in addition to valuing its beauty (jewelry = bling). The Natives that lived along the beach had an edge on those inland because of easy access to the raw materials.

(http://wordsmith.org/words/images/wampum_large.jpg)
Wampum beads  Photo: Stephen Lang (Source: AINS/NMAI)

Quote
With the influx of more Europeans in the 17th century, notably the Dutch and English, metal tools became widely available to Indians in the east.

Among these tools were slender metal drills which greatly facilitated the production of wampum. These new tools enabled the Indians to produce uniform beads more quickly and with greater ease.

Applying basic economic principles to wampum as a commodity/currency in the 17th century, it might be assumed that wampum decreased in value as its production was sped up.

On the contrary, its value remained stable.

Again applying the basic economic rule of supply and demand, though the Europeans brought tools that helped to increase wampum production, they also balanced their contribution with an increased demand for the shell beads.

http://www.mohicanpress.com/mo08017.html (http://www.mohicanpress.com/mo08017.html)

Wampum is pretty and, until the Europeans showed up with metal hand tools, a good store of wealth because the amount of energy=work it took to make it as well as the amount of shells available  limited the amount of wampum in circulation.

But those metal thingamajigs the white devils brought made it EASY (LESS TIME & ENERGY=WORK) to make lots of pretty wampum (metal hand drills). This new wampum looked just as good or better than the older stuff made with less sophisticated (non-metal) tools.

At first everybody prospered. There was more wampum, and contrary to standard economic theory that when you increase the currency in circulation, you get inflation, this did not happen right away. Everybody, including the white devils  (http://www.createaforum.com/gallery/renewablerevolution/3-141113185047.png), were happy with the wampum economy.

But time passed and things changed.

Quote
As the New England colonists adopted wampum as their standard currency, incidents of fraud (wampum counterfeit) increased.

Both Indian and Englishman were known to pass off inferior or fraudulent wampum to unsuspecting colonials.


In time, regulation and a standardized measure of wampum strands was implemented. A fathom (6 feet) was the most usual measurement and instantly denoted a specific monetary value measured against English shillings, pence, pounds, and so forth.

The fact that legislation was introduced, regulations regarding wampum manufacture were set down, penalties for counterfeit or inferior quality wampum trading were harsh, and in some colonies the rejection of dark wampum for only white (though its value was greater, it was easier to counterfeit by way of dye), all illustrate how dependent the colonists and Indians were on these shell beads.

There was some fluctuation in wampum's value, as is always the case with currency, but by and large, it remained uniformly acceptable and desirable to nearly the end of the 17th century in the colonies and into the 18th century along the frontiers.

Its worth, however, was tenable. Wampum was only good as long as the Indians prized it. If or when that was no longer the case, an economic crash could occur throughout the English colonies that would have had serious consequences in New England, and subsequently, in the mother country as well.

It was this realization, along with the declining demand for fur, that moved the New Englanders to gradually phase out wampum as a currency standard. With silver from the West Indies beginning to circulate in North America, wampum was slowly being replaced by that universally valued commodity, metal coinage.

http://www.mohicanpress.com/mo08017.html (http://www.mohicanpress.com/mo08017.html)

Two things happened:

1) The colonists, who had hitherto absorbed the wampum glut by their demand for the beads, lost interest in wampum partly because they didn't require as many furs (wampum was the currency the colonists used to buy pelts). Wampum lost value as a medium of exchange as the increase in available currency took its toll.

Counterfeiting exacerbated the problem of undermining the medium of exchange value of the currency. A given piece of wampum lost purchasing power because of wampum glut AND a competing currency of coinage.

2) The artistic value part of wampum as a store of wealth suffered as well. Any philatelist can tell you that old stamps get their "value", not from a pretty painting on the stamp, but MAINLY from their scarcity.

This was depressing. Imagine all those hours spent painstakingly making wampum and that neighboring squaw that is all thumbs can suddenly make several times as much as you can just because she has a white devil metal thingamajig to goose production! And now the white devils don't want them as much as they used to either.  :P  :(

But as you can see below, despite its disappearance as a currency, wampum survives to this day as a product of patient craftsmanship, artistry and historical communication.

Quote
It is interesting, if not ironic, to note that wampum remains valuable even today. A single wampum bead made from Quahog or Whelk, manufactured in New England coastal areas can cost up to $10! Overseas wampum is less expensive, but still demands a good price. Wampum, the first currency of the new world, has survived as a desired item long enough to be considered a classic.

But it would never regain its position as a medium of exchange/currency.

(https://pbs.twimg.com/media/Bm_vkWbCUAAaoZw.jpg)
Two Row Wampum Treaty from Elder, Yvonne Thomas.pic.twitter.com/EtjkqHsG9o The patient artistry and symbolism crafted in this wampum is an example of how wampum is a store of value. 

Quote
Celebrating 400 Years of the Two Row Wampum

Vanessa Parker

May 25, 2013

In an effort to maintain a separate and peaceful coexistence, an agreement was made 400 years ago between a group of Haudenosaunee nations and the incoming European settlers who were rapidly arriving. That agreement remains valid today.

The Two Row Wampum was made with strings of wampum, or crushed shells, which were made into purple and white beads threaded onto strings, forming a belt.

]The white beads, located outside of two large purple rows of beads, represent the truth.

The purple beads are separated into two rows, one representing the canoe of the Haudenosaunee, the other representing the sailboat of the incoming Europeans.

Each row represents the separate cultures, traditions, governments and religions.

In between the purple rows run three rows of white beads. These represent peace, friendship and maintaining a sense of equality forever.
full article here:

http://indiancountrytodaymedianetwork.com/2013/05/25/celebrating-400-years-two-row-wampum-149469 (http://indiancountrytodaymedianetwork.com/2013/05/25/celebrating-400-years-two-row-wampum-149469)

What lessons can we take from the above Native American experience?

1) Money is created in order to ease the transfer of goods and services. This medium of exchange normally has the following qualities:

A. Liquidity

B. Durability

C. Portability

D. Agreed upon value per unit


2) The ENERGY it takes to create said money is directly proportional to a unit of said money as a store of value.



The extreme situation, never reached by wampum because it always took SOME skill and energy to make, is FIAT currency where it has ZERO value as a store of wealth.

The case of the US dollar is BELOW ZERO as a store of wealth because, in addition to it being fiat, the supply is growing absent any energy input whatsoever. So the dollar loses value as it sits from Fed  inflation (counterfeiting). Legal Tender Laws force the citizenry to run around trying to preserve some value in a currency that shrinks in value year after year. Many of these value chasers go for PMs, paintings, land, antique cars, Early American antique furniture, etc. They are all looking for something that meets the criteria of liquidity, durability, portability and agreed upon value per unit to a greater or lesser degree.

3) Beyond the basic biochemical needs of proper nutrition, shelter and health, human culture places a great deal of value on tangibles and intangibles outside the default requirements of human life.



Humans will always value creativity and imaginative and useful innovations that bring beauty, comfort and utility to our lives as STORES OF VALUE.

What price can you place on a song? What value does a set of verses have that took a song writer 5 minutes to write after he had dreamed them versus a painstakingly written flute sonata?

Hard to say, right? One took a lot less ENERGY than the other, both in KWhs and artistic creativity, but may have sold for a lot more money.


What about greed and other economy influencing factors? ???

The issue of greed, hoarding, the amount of currency in circulation as a trigger for consumerism or the reverse are all PRODUCTS of distortions in an economy.

Most economists espouse the view  that currency does not simply encourage certain types of behavior deleterious to an economy, but DICTATES IT.

I don't feel that way because I view money as an EFFECT, not a CAUSE. I do agree that the money supply certainly must remain in a fairly constant proportion per capita to avoid distortions.

Food will never be currency simply because, even if you could freeze dry it with solar energy and store it also with solar energy for a hundred years or so to use it as you needed it, there is only so much food you or anybody else can eat.

People want furniture, tools, culture, beauty, some entertainment, etc. A prisoner in solitary confinement goes bonkers even though he has sufficient food, shelter and health care.

Life is MUCH more than food, shelter and health.

Those who disdain precious metals as a store of wealth feel that, since gold hoarders can't eat their gold, it therefore has no intrinsic value. However, as all gold bugs have noticed, gold has the following "money-like" attributes:

A. Liquidity
B. Durability
C. Portability
D. Agreed upon value per unit

Gold bugs observe, rightfully, that the US dollar retains the above attributes by the big gun the government has called Legal Tender Laws, not by reality. This amounts to a government distortion of the value of the currency to for the benefit of the owners of the Federal Reserve Banking Cartel and the detriment (i.e. impoverishment) of the average American citizen.  Consequently they take any excess dollars in their possession and quickly convert them something besides dollars because the value of said dollars, like wampum (eventually,) after the metal hand drills were introduced by the white devils, is going down.

Gold bugs watch the Fed money supply going exponential in direct proportion to the galloping inflation the government refuses to own up to.  (http://www.createaforum.com/gallery/renewablerevolution/3-120716190938.png)

This is far worse than wampum inflation because this is raw counterfeiting of fiat! People aware of this start to buy this, that and the other with those magically shrinking dollars from collector's items like stamps to maybe antique furniture to paintings to rare coins to, you guessed it, gold!

Gold is hard to counterfeit. There is a way to use nuclear physics (this is not a joke, it's the real deal!) to transmute some cheap element to gold but the energy expenditure is greater than the energy needed to mine and produced finished gold from ore. However, when fusion becomes a reality, the equation for gold may change and, it too, will go the way of wampum. Don't worry gold bugs, it may be a while yet.*

The Federal Reserve Banking Cartel realizes there are a lot people out there on to their game so they start manipulating  the precious metals paper prices (tanking them) to drive the gold bugs back to the Fed fiat fantasy of a strong dollar. 

I observed this blatant and economically disastrous distotion of currency value and, after thinking about it a while, came to the conclusion that we need something like wampum but without those hand drills or the counterfeiting dye!   (http://www.createaforum.com/gallery/renewablerevolution/3-051113192052.png)My wonderful and innovative Kilowatt Hour Monetary Standard is, horror of horrors,  greeted with hardy harrs and guffaws from the gnomes of the Federal Reserve.   (http://www.pic4ever.com/images/funny.gif) Harrumph!  (http://www.pic4ever.com/images/swear1.gif)



ANY currency that is not BOTH a medium of exchange and a store of value will be corrupted, distorted, counterfeited and generally devalued, PERIOD.  (http://www.pic4ever.com/images/301.gif)


The "tokens" or other symbols used for such currency obviously introduces DEBT because there might be a whole lot more symbols, tokens or pieces of paper with funny squiggles on them than the ACTUAL store of value represented. THAT'S JUST A DETAIL. If you can avoid corruption and insure transparency, that can be minimized.

The "fear" that hoarders are going to trash the economy by taking money out of circulation is unfounded. That's merely an EFFECT of capitalism. It has nothing to do with the concept of money per se.

This EFFECT is really quite easy to prevent. All you have to do is progressively tax wealth (NOT INCOME!) above X net worth to keep a lid on excess capital accumulation. Thomas Jefferson was in favor of that, as a matter of fact (google it!).

Once everyone is on board with a stable currency like Kilowatt Hour Equivalents, I would also eliminate the difference between earned and unearned income (capital gains) and progressively tax that too. That appropriate and fair tax structure would serve as an additional DETERRENT hoard and a guarantee that the velocity of money will remain fairly constant. 

Have a nice day.

*
Quote
Nuclear experiments have successfully transmuted lead into gold, but the expense far exceeds any gain.[7] It would be easier to convert gold into lead via neutron capture and beta decay by leaving gold in a nuclear reactor for a long period of time. (http://www.emofaces.com/en/emoticons/n/nuclear-emoticon.gif)  :P


http://en.wikipedia.org/wiki/Nuclear_transmutation
Title: Re: Money
Post by: AGelbert on May 04, 2017, 08:39:03 pm
From Trump to Brexit - Neoliberalism is Dying...

https://youtu.be/EugDXiIDnUA

May. 3, 2017 6:06 pm

Economist Kate Raworth, Doughnut Economics/Oxford University's Environmental Change Institute/Cambridge Institute for Sustainability Leadership. From Donald Trump to Brexit, the evidence is everywhere: neoliberalism is dying. So how can we create an economic system that works for the 21st century?



Title: Re: Money
Post by: AGelbert on May 05, 2017, 01:01:32 pm
Last Edit: May 05, 2017

(https://wampumtrail.files.wordpress.com/2014/05/p1060670.jpg)

http://www.mohicanpress.com/mo08017.html (http://www.mohicanpress.com/mo08017.html)

She sells seashells by the seashore. If she sells seashells by the seashore, how many seashore shells does she sell? This old tongue twisting pronunciation trainer underscores step one in the manufacture of Wampum. You needed a supply of a certain, special and very attractive type of Calcium Carbonate, which was limited in quantities, to begin to do WORK=ENERGY INPUT plus some ARTISTIC CREATIVITY on the seashells in order to produce a CURRENCY that was BOTH a medium of exchange AND a store of value.   

(http://upload.wikimedia.org/wikipedia/commons/thumb/8/8e/Wampum_ej_perry.jpg/300px-Wampum_ej_perry.jpg)
Wampum

In a barter economy, the transfer of goods and services from one party to another is hindered by the lack of liquidity of say, an animal, a bear skin or whatever. The lack of a medium of exchange that can be subdivided into small enough units for both parties to make up perceived different values in a barter transaction is the need that fosters the creation of "money" in the first place.

Wampum was initially a form of artistic expression as well as a form of communication (it was a store of value as jewelry and venerable truth through news and agreements).

However, as the quantity gradually increased and most natives agreed more or less on its value, wampum began providing the liquidity that a barter economy could not.

Consequently the Native Americans along the eastern area of North Amerca gradually adopted wampum as a currency in addition to valuing its beauty (jewelry = bling). The Natives that lived along the beach had an edge on those inland because of easy access to the raw materials.

(http://wordsmith.org/words/images/wampum_large.jpg)
Wampum beads  Photo: Stephen Lang (Source: AINS/NMAI)

http://www.mohicanpress.com/mo08017.html (http://www.mohicanpress.com/mo08017.html)

Wampum is pretty and, until the Europeans showed up with metal hand tools, a good store of wealth because the amount of energy=work it took to make it as well as the amount of shells available  limited the amount of wampum in circulation.

But those metal thingamajigs the white devils brought made it EASY (LESS TIME & ENERGY=WORK) to make lots of pretty wampum (metal hand drills). This new wampum looked just as good or better than the older stuff made with less sophisticated (non-metal) tools.

At first everybody prospered. There was more wampum, and contrary to standard economic theory that when you increase the currency in circulation, you get inflation, this did not happen right away. Everybody, including the white devils  (http://www.createaforum.com/gallery/renewablerevolution/3-141113185047.png), were happy with the wampum economy.

But time passed and things changed.

http://www.mohicanpress.com/mo08017.html (http://www.mohicanpress.com/mo08017.html)

Two things happened:

1) The colonists, who had hitherto absorbed the wampum glut by their demand for the beads, lost interest in wampum partly because they didn't require as many furs (wampum was the currency the colonists used to buy pelts). Wampum lost value as a medium of exchange as the increase in available currency took its toll.

Counterfeiting exacerbated the problem of undermining the medium of exchange value of the currency. A given piece of wampum lost purchasing power because of wampum glut AND a competing currency of coinage.

2) The artistic value part of wampum as a store of wealth suffered as well. Any philatelist can tell you that old stamps get their "value", not from a pretty painting on the stamp, but MAINLY from their scarcity.

This was depressing. Imagine all those hours spent painstakingly making wampum and that neighboring squaw that is all thumbs can suddenly make several times as much as you can just because she has a white devil metal thingamajig to goose production! And now the white devils don't want them as much as they used to either.  :P  :(

But as you can see below, despite its disappearance as a currency, wampum survives to this day as a product of patient craftsmanship, artistry and historical communication.

But it would never regain its position as a medium of exchange/currency.

(https://pbs.twimg.com/media/Bm_vkWbCUAAaoZw.jpg)
Two Row Wampum Treaty from Elder, Yvonne Thomas.pic.twitter.com/EtjkqHsG9o The patient artistry and symbolism crafted in this wampum is an example of how wampum is a store of value. 
full article here:

http://indiancountrytodaymedianetwork.com/2013/05/25/celebrating-400-years-two-row-wampum-149469 (http://indiancountrytodaymedianetwork.com/2013/05/25/celebrating-400-years-two-row-wampum-149469)

What lessons can we take from the above Native American experience?

1) Money is created in order to ease the transfer of goods and services. This medium of exchange normally has the following qualities:

A. Liquidity

B. Durability

C. Portability

D. Agreed upon value per unit


2) The ENERGY it takes to create said money is directly proportional to a unit of said money as a store of value.



The extreme situation, never reached by wampum because it always took SOME skill and energy to make, is FIAT currency where it has ZERO value as a store of wealth.

The case of the US dollar is BELOW ZERO as a store of wealth because, in addition to it being fiat, the supply is growing absent any energy input whatsoever. So the dollar loses value as it sits from Fed  inflation (counterfeiting). Legal Tender Laws force the citizenry to run around trying to preserve some value in a currency that shrinks in value year after year. Many of these value chasers go for PMs, paintings, land, antique cars, Early American antique furniture, etc. They are all looking for something that meets the criteria of liquidity, durability, portability and agreed upon value per unit to a greater or lesser degree.

3) Beyond the basic biochemical needs of proper nutrition, shelter and health, human culture places a great deal of value on tangibles and intangibles outside the default requirements of human life.



Humans will always value creativity and imaginative and useful innovations that bring beauty, comfort and utility to our lives as STORES OF VALUE.

What price can you place on a song? What value does a set of verses have that took a song writer 5 minutes to write after he had dreamed them versus a painstakingly written flute sonata?

Hard to say, right? One took a lot less ENERGY than the other, both in KWhs and artistic creativity, but may have sold for a lot more money.


What about greed and other economy influencing factors? ???

The issue of greed, hoarding, the amount of currency in circulation as a trigger for consumerism or the reverse are all PRODUCTS of distortions in an economy.

Most economists espouse the view  that currency does not simply encourage certain types of behavior deleterious to an economy, but DICTATES IT.

I don't feel that way because I view money as an EFFECT, not a CAUSE. I do agree that the money supply certainly must remain in a fairly constant proportion per capita to avoid distortions.

Food will never be currency simply because, even if you could freeze dry it with solar energy and store it also with solar energy for a hundred years or so to use it as you needed it, there is only so much food you or anybody else can eat.

People want furniture, tools, culture, beauty, some entertainment, etc. A prisoner in solitary confinement goes bonkers even though he has sufficient food, shelter and health care.

Life is MUCH more than food, shelter and health.

Those who disdain precious metals as a store of wealth feel that, since gold hoarders can't eat their gold, it therefore has no intrinsic value. However, as all gold bugs have noticed, gold has the following "money-like" attributes:

A. Liquidity
B. Durability
C. Portability
D. Agreed upon value per unit

Gold bugs observe, rightfully, that the US dollar retains the above attributes by the big gun the government has called Legal Tender Laws, not by reality. This amounts to a government distortion of the value of the currency to for the benefit of the owners of the Federal Reserve Banking Cartel and the detriment (i.e. impoverishment) of the average American citizen.  Consequently they take any excess dollars in their possession and quickly convert them something besides dollars because the value of said dollars, like wampum (eventually,) after the metal hand drills were introduced by the white devils, is going down.

Gold bugs watch the Fed money supply going exponential in direct proportion to the galloping inflation the government refuses to own up to.  (http://www.createaforum.com/gallery/renewablerevolution/3-120716190938.png)

This is far worse than wampum inflation because this is raw counterfeiting of fiat! People aware of this start to buy this, that and the other with those magically shrinking dollars from collector's items like stamps to maybe antique furniture to paintings to rare coins to, you guessed it, gold!

Gold is hard to counterfeit. There is a way to use nuclear physics (this is not a joke, it's the real deal!) to transmute some cheap element to gold but the energy expenditure is greater than the energy needed to mine and produced finished gold from ore. However, when fusion becomes a reality, the equation for gold may change and, it too, will go the way of wampum. Don't worry gold bugs, it may be a while yet.*

The Federal Reserve Banking Cartel realizes there are a lot people out there on to their game so they start manipulating  the precious metals paper prices (tanking them) to drive the gold bugs back to the Fed fiat fantasy of a strong dollar. 

I observed this blatant and economically disastrous distotion of currency value and, after thinking about it a while, came to the conclusion that we need something like wampum but without those hand drills or the counterfeiting dye!   (http://www.createaforum.com/gallery/renewablerevolution/3-051113192052.png)My wonderful and innovative Kilowatt Hour Monetary Standard is, horror of horrors,  greeted with hardy harrs and guffaws from the gnomes of the Federal Reserve.   (http://www.pic4ever.com/images/funny.gif) Harrumph!  (http://www.pic4ever.com/images/swear1.gif)



ANY currency that is not BOTH a medium of exchange and a store of value will be corrupted, distorted, counterfeited and generally devalued, PERIOD.  (http://www.pic4ever.com/images/301.gif)


The "tokens" or other symbols used for such currency obviously introduces DEBT because there might be a whole lot more symbols, tokens or pieces of paper with funny squiggles on them than the ACTUAL store of value represented. THAT'S JUST A DETAIL. If you can avoid corruption and insure transparency, that can be minimized.

The "fear" that hoarders are going to trash the economy by taking money out of circulation is unfounded. That's merely an EFFECT of capitalism. It has nothing to do with the concept of money per se.

This EFFECT is really quite easy to prevent. All you have to do is progressively tax wealth (NOT INCOME!) above X net worth to keep a lid on excess capital accumulation. Thomas Jefferson was in favor of that, as a matter of fact (google it!).

Once everyone is on board with a stable currency like Kilowatt Hour Equivalents, I would also eliminate the difference between earned and unearned income (capital gains) and progressively tax that too. That appropriate and fair tax structure would serve as an additional DETERRENT hoard and a guarantee that the velocity of money will remain fairly constant. 

Have a nice day.

* Nuclear experiments have successfully transmuted lead into gold, but the expense far exceeds any gain.[7]  It would be easier to convert gold into lead via neutron capture and beta decay by leaving gold in a nuclear reactor for a long period of time. (http://www.emofaces.com/en/emoticons/n/nuclear-emoticon.gif)  :P


http://en.wikipedia.org/wiki/Nuclear_transmutation
Title: Re: Money
Post by: AGelbert on May 07, 2017, 08:54:17 pm
Journeyman Pictures

Overdose: The Next Financial Crisis

https://youtu.be/4ECi6WJpbzE

Published on Jul 2, 2012

Overdose: The Next Financial Crisis. Award-winning documentary giving fresh insight into the greatest economic crisis of our age: the one still awaiting us.

(http://www.createaforum.com/gallery/renewablerevolution/3-021114150033.png)
Title: Re: Money
Post by: AGelbert on May 07, 2017, 09:35:53 pm
The Collapse Is Confirmed! Signs Of The Imminent Economic Collapse 2017 Stock Market CRASH!

https://youtu.be/18B9Aw4s52w

The Economist

Published on Mar 23, 2017

30 Things You Should Do To Prepare For The Imminent Economic Collapse 2017 Stock Market CRASH!

Title: Re: Money
Post by: AGelbert on May 07, 2017, 10:06:34 pm
Jim Rogers It s Time to Prepare MAY 2017 will be bad for the dollar, US economy & stock market

https://youtu.be/i4FDn85U_xw

Financial Consultants

Published on Apr 30, 2017

Jim Rogers It s Time to Prepare MAY 2017 will be collapse for the dollar, US economy & stock market.
Title: Re: Money
Post by: AGelbert on May 15, 2017, 02:44:37 pm
(https://prod01-cdn07.cdn.firstlook.org/wp-uploads/sites/1/2017/05/puerto-rico-bankruptcy-1494272919-article-header.jpg)

https://theintercept.com/2017/05/09/puerto-ricos-123-billion-bankruptcy-is-the-cost-of-u-s-colonialism/ (https://theintercept.com/2017/05/09/puerto-ricos-123-billion-bankruptcy-is-the-cost-of-u-s-colonialism/)

Puerto Rico’s $123 Billion Bankruptcy Is the Cost of U.S. Colonialism
Juan González

May 9 2017, 5:23 a.m.
Leia em português ⟶

Last week Puerto Rico officially became the largest bankruptcy case in the history of the American public bond market. On May 3, a fiscal control board imposed on the island’s government by Washington less than a year ago suddenly announced that Puerto Rico’s economic crisis had “reached a breaking point.” The board asked for the immediate appointment of a federal judge to decide how to deal with a staggering $123 billion debt the commonwealth government and its public corporations owe to both bondholders and public employee pension systems.

The announcement sparked renewed press attention to a Caribbean territory that many have dubbed America’s Greece. The island’s total debt, according to the control board, is unprecedented for any government insolvency in the U.S., and it is certain to mushroom quickly if no action is taken. Detroit’s bankruptcy, by comparison, involved just $18 billion — one-ninth the size of Puerto Rico’s.

Within days, Supreme Court Chief Justice John Roberts, acting under a provision of the Puerto Rico Oversight, Management, and Economic Stability Act (known as PROMESA), which was enacted last June, appointed federal Judge Laura Taylor Swain from the Southern District of New York to take over the Puerto Rico case. A former bankruptcy court judge who was appointed to the federal court by President Clinton, Swain famously presided over the long criminal trial of employees of the Bernie Madoff Ponzi scheme.

Few press reports on Puerto Rico’s troubles, however, have bothered to examine the deeper issues behind this crisis.

(https://prod01-cdn07.cdn.firstlook.org/wp-uploads/sites/1/2017/05/puerto-rico-bankruptcy-2-1494272931.jpg)
PUERTO RICO - JANUARY 01: Governer'S Place Party In Puerto Rico. (Photo by Keystone-France/Gamma-Keystone via Getty Images)

First, the colonial relationship that has prevailed between the U.S. and Puerto Rico since 1898 is no longer viable. Puerto Rico is the largest overseas territory still under the sovereign control of the United States, and it is the most important colonial possession in this nation’s history. That relationship produced uncommon profits for American subsidiaries on the island for more than a century, even as the federal government kept claiming that the Commonwealth of Puerto Rico, created in 1952, was a self-governing territory. But now, with a Washington-appointed board directly overseeing the island’s economy, and with a pivotal Supreme Court decision last year affirming that Congress continues to exercise sovereign power over Puerto Rico, the mask of self-governance has been removed.

The old commonwealth is effectively dead. Absent a huge infusion of U.S. public dollars to prop up its collapsing economy, a scenario that is nearly impossible with a Trump White House and a Republican-controlled Congress, that relationship cannot be revived. Political leaders in both Washington and San Juan, whether they like it or not, are being propelled to fashion a new political and economic status for the territory. They will have to finally decide whether to completely annex Puerto Rico as the 51st state or acknowledge that it still remains a distinct nation, with the right to its own sovereignty and independence.

Second, the impact of Puerto Rico’s bankruptcy will continue to reverberate throughout the U.S. bond market, far more than most Wall Street analysts have so far acknowledged. The PROMESA control board has warned that even with massive cuts to government services and new projected revenues from higher taxes and fees, Puerto Rico will still generate slightly less than $8 billion in budget surpluses over the next 10 years, when some $35 billion in debt service comes due. In other words, three-quarters of the debt cannot be repaid. That is not just a haircut for bondholders; it is a head-shaving, one that will send shock waves throughout the municipal bond market. After all, bonds backed by the full faith-and-credit of local government entities have long been considered among the safest of investments.

Years of court battles between Puerto Rico and contending groups of creditors are now certain. “The economy of Puerto Rico will be put on hold for years,” Andrew Rosenberg, adviser to the Ad Hoc Group of Puerto Rico General Obligation Bondholders, told the Associated Press. “Make no mistake: The board has chosen to turn Puerto Rico into the next Argentina.”

(https://prod01-cdn07.cdn.firstlook.org/wp-uploads/sites/1/2017/05/puerto-rico-bankruptcy-downsize-1494275130.jpg)
A Puerto Rican flag painted on the doorway of an abandoned building in San Juan, Puerto Rico, on May 1, 2016. Photo: Erika P. Rodriguez/Bloomberg News/Getty Images

The Debt Is Not Payable

Civil society groups contend that the plunder of the Puerto Rican people through predatory and even illegal bond deals that island politicians concocted together with top Wall Street firms will now be exposed.

Amazingly, the 23-page petition that the federal government’s own financial control board filed in U.S. District Court in San Juan reached the exact same conclusion that Puerto Rico’s former Gov. Alejandro García Padilla reached back in June 2015 — that the island’s debt is “not payable.”

In the nearly two years since García Padilla sounded the alarm, however, Washington has done almost nothing to alleviate the economic catastrophe afflicting 3.4 million U.S. citizens in Puerto Rico, except to establish the control board by enacting PROMESA.

On an island that has lost 10 percent of its population in the last 10 years, where 46 percent of the population lives below the U.S. poverty level, where the unemployment rate is more than 11 percent, and where the labor force participation hovers around 40 percent, lawmakers in Congress have kept insisting on greater austerity from Puerto Rico’s population. The reality is such dire conditions would never be tolerated among U.S. citizens in any other jurisdiction, yet they are allowed to persist in Puerto Rico.

During the past two years, the commonwealth government has sharply raised electricity and water rates. It has increased the sales tax (now a value added tax) to 11.5 percent. It has proposed ending all pensions for new workers and cutting existing benefits by an average of 10 percent. And last week, it announced the closing of 179 public schools for the coming school year. In addition, the control board has called for a $450 million cut over the next four years to the island’s 70,000-student public university.

Under the control board’s pressure, Gov. Ricardo Rosselló, who took office in January, is eyeing the privatization of the government-owned electric company, the water and sewer authority, even the public transit system. But even massive cuts and selling off public assets can’t solve the problem that there aren’t enough jobs on the island, that young people keep fleeing to the United States, and that Puerto Rico’s government is powerless to fashion its own economic and trade policy independently from the U.S.

(https://prod01-cdn07.cdn.firstlook.org/wp-uploads/sites/1/2017/05/puerto-rico-bankruptcy-5-1494275497-1024x683.jpg)
Ricardo Rossello, governor of Puerto Rico, listens during a meeting at Puerto Rico Industrial Development Company (PRIDCO) headquarters in San Juan, Puerto Rico, U.S., on Tuesday, March 28, 2017.

Puerto Rico's economy has been contracting for a decade. Last year, almost 65,000 residents left the island, keeping pace with the previous two years, when the exodus reached the worst since at least the 1980s. Photographer: Alejandro Granadillo/Bloomberg via Getty Images

Ricardo Rosselló, governor of Puerto Rico, listens during a meeting at the Puerto Rico Industrial Development Company headquarters in San Juan, Puerto Rico, on March 28, 2017.

Photo: Alejandro Granadillo/Bloomberg News/Getty Images

For decades, Puerto Rico was important to the American economy as a center of sugar cane growing, then as a tax haven for manufacturing and pharmaceutical companies, and as a military stronghold and bulwark against the spread of communism in Latin America. But now it is no longer needed for any of these things. Most of the U.S. military bases have closed, and Congress began in 1996 to phase out the island’s tax haven status. As soon as the last of the federal tax breaks — known as Section 936 — ended in 2006, corporations started leaving and the island plunged into a recession from which it has yet to recover. For the past 20 years, a succession of island governments has been closing structural operating deficits with borrowed funds supplied by Wall Street firms eager to market its triple tax-exempt bonds to wealthy and middle-class Americans and Puerto Ricans.

Investors were especially drawn to a provision of the Puerto Rico constitution that required the government to pay general obligation debt service ahead of any other expenses, and by the fact that Puerto Rico and its public corporations were legally prevented from resorting to Chapter 9 bankruptcy, the portion of the bankruptcy code that applies to most local governments and municipalities.

Until 1978, Congress had included all the territories and possessions of the United States under Chapter 9, so Puerto Rico had bankruptcy protection until then. But between ’78 and the early ’80s, there were several changes to U.S. bankruptcy law. In 1984, an amendment was inserted into the law by South Carolina Sen. Strom Thurmond that specifically excluded Puerto Rico from Chapter 9. No reason was given. No federal policy or interest in the change was spelled out in the amendment process. By a few simple phrases in an amendment that few people noticed, Congress laid the basis for the unique situation Puerto Rico confronted last year. It was not only broke, there was no established legal recourse for it to get a court to decide how its many creditors would get paid or how much.

The PROMESA bill Congress enacted at least created a new type of Chapter 9-like process for the island. The bill stipulates that if the Puerto Rican government and the control board cannot reach voluntary settlements with bondholders, a judge can be appointed and creditors forced to accept a settlement, known as a “cram-down.”

But the law’s constitutionality has yet to be tested, and with so much money at stake the various groups of bondholders are determined to wage a titanic legal battle against it.

On May 5, for instance, Ambac Assurance Corp., one of the major insurers of Puerto Rico bonds, filed suit in U.S. District Court in Puerto Rico against the Commonwealth and the Oversight Board, and did so with uncommonly strident language:

    Sovereignty confers great power, but it does not authorize lawlessness. This action seeks to halt the latest in a series of unconstitutional and unlawful acts that have been the unfortunate modus operandi of the Commonwealth government in seeking to manage its financial and economic distress. Instead of rectifying these abuses, the Oversight Board created by Congress to restore fiscal responsibility to the Commonwealth has affirmatively exacerbated them, giving its imprimatur to an ongoing scheme of constitutional and statutory violations that can only be called theft.

Ambac has insured billions of dollars in sales tax revenue bonds, known as COFINA bonds, that Puerto Rico has issued since 2006, and the company, along with other bond insures, faces enormous losses from any cram-down.

Meanwhile, another group of bondholders who were involved in $1.4 billion of Puerto Rico’s last major general obligation bonds, issued in 2014, filed suit in New York state Supreme Court. Those bondholders, led by hedge funds Aurelius Capital Management and Monarch Alternative Capital, insist that Puerto Rico’s Constitution requires them to be paid first from all available revenues. The general obligation bondholder group, along with many civil society groups, insist that all the COFINA bonds — and they represent nearly $18 billion of the total $74 billion bond debt — were illegally issued and should not be repaid.

That’s because the Puerto Rico constitution specifically forbids debt service and principal that surpasses more than 15 percent of annual government revenues. The Puerto Rico legislature specifically created COFINA to maneuver around that 15 percent limit, and it then guaranteed the payment of that debt from sales tax revenues. But the legality of that maneuver has never been tested in court.

While the contending bondholder groups battle in the courts, the PROMESA board has now sided with the Puerto Rico government that bondholders will have to accept major reductions in payments.

“From current revenues, the Commonwealth and its instrumentalities cannot satisfy their collective $74 billion debt burden and $49 billion pension burden and pay their operating expenses,” the fiscal control board concluded last week after months of poring over Puerto Rico financial records.

And the island’s budgetary crisis “is about to worsen exponentially,” the control board warned, “due to the elimination of approximately $850 million in Affordable Care Act Funds in fiscal year 2018.” The total loss of federal health care funds, according to the board, is expected to reach $16 billion over the next 10 years. On top of that, the government pension systems are almost out of cash and will need $1.5 billion a year just to keep up payments to current retirees. Unlike municipal workers in the U.S., most public employees in Puerto Rico are not part of the social security system, so those pensions are their only retirement income.

Meanwhile, Donald Trump and Republican leaders in Congress insist there will be no bailout of Puerto Rico, no extra federal assistance to the island’s population.

They want to ignore the fact that back in the 1990s under Bill Clinton and the Newt Gingrich Congress, Washington’s leaders realized they had to take drastic measures to save the District of Columbia from economic collapse. Congress established a fiscal control board just as it has with Puerto Rico.

But that board soon concluded that DC had structural problems that required federal help. In 1997, a reform package accomplished the following: the federal government assumed the city’s debts, it took responsibility for the local courts and prisons, it increased the rate for Medicaid reimbursements to the district, and it took over the city’s underfunded employee pensions.

As a result, the district emerged from economic calamity. Today it is a vibrant and prosperous city.

Federal lawmakers will either have to provide massive assistance to Puerto Rico, or they will have to move rapidly to change the island’s political and economic status. After a century of colonial rule by Washington and decades of predatory debt from Wall Street, the bill has come due.

Top photo: Pedestrians walk past an old hotel in the Condado area of San Juan, Puerto Rico, in 2015.

Title: Re: Money
Post by: AGelbert on May 17, 2017, 08:45:56 pm
Dr. Richard Wolff: The Return of Progressivism Around the World

https://youtu.be/mWNIw7lNVCk

Thom Hartmann Administrator's picture
May. 17, 2017 11:01 am

Economist Dr. Richard Wolff, Capitalism's Crisis Deepens Essays on the Global Economic Meltdown/Democracy At Work. It's not just Bernie Sanders - left-wing populists like the UK's Jeremy Corbyn are on the rise all over the world. The media calls them radicals - but are they actually just old-school FDR progressives?

For more information on the stories we've covered visit our websites at thomhartmann.com - freespeech.org - and RT.com. You can also watch tonight's show on Hulu - at Hulu.com/THE BIG PICTURE and over at The Big Picture YouTube page. And - be sure to check us out on Facebook and Twitter!



Title: Re: Money
Post by: AGelbert on May 18, 2017, 07:25:06 pm
(http://therealnews.com/t2/templates/gk_twn/images/logo3.png)

Puerto Rico Debt Crisis: 'A Great Depression That Doesn't End'  :(

https://youtu.be/Lv2qI_XCNuM

Published on May 17, 2017

Journalist, author, and Democracy Now! co-host Juan González says the Puerto Rican debt crisis, now entering a critical bankruptcy phase, results from a legacy of U.S. colonial domination and predatory Wall Street debt.
Title: Re: Money
Post by: AGelbert on May 24, 2017, 07:49:45 pm

Economic Update: Rising Costs of Capitalism's Failures
https://youtu.be/N9zblFAKFiw

Democracy at Work

Published on Apr 30, 2017
Title: Re: Money
Post by: AGelbert on May 30, 2017, 06:01:11 pm
Robert Reich : Universal Basic Income  (http://www.pic4ever.com/images/19.gif)

Published on May 26, 2017

https://youtu.be/_w51kcyw-YI
Title: Re: Money
Post by: AGelbert on May 31, 2017, 09:46:40 pm
Richard Wolff On The New Socialism
https://youtu.be/_MmKFt8EskY

May 30, 2017

Big Picture Interview: Economist Dr. Richard Wolff, Capitalism's Crisis Deepens Essays on the Global Economic Meltdown/Democracy At Work. It's not just Bernie Sanders - democratic socialism is on the rise all over the Western world right now. How can the resurgent left seize this moment - and the means of production?
Title: Re: Money
Post by: AGelbert on June 07, 2017, 08:35:47 pm
Inequality For All: A Visual Story

by Prof. Robert Reich

https://www.sandersinstitute.com/blog/inequality-for-all-a-visual-story
Title: Re: Money
Post by: AGelbert on June 12, 2017, 02:03:30 pm
Sunday, June 11, 2017

By William Rivers Pitt, Truthout | Op-Ed

(https://www.afsc.org/sites/afsc.civicactions.net/files/u1752/Truthout%20logo.jpg)

We Are Not Broke: Trashing the Austerity Lies

Agelbert NOTE: A die hard Profit over Planet Capitalist weighs in with the typical baloney. I answer it.  ;D

didactic1   (http://www.pic4ever.com/images/acigar.gif)(http://www.pic4ever.com/images/gen152.gif)

Rivers clearly knows little about finance or business. Close the loopholes and you won't collect dollar for dollar more revenue. Assets can be sold, transferred, or converted to securities. By all means have public ownership of utilities, fuel resources, health and banking. But don't expect capitalists to turn over significant amounts of now untaxed income.


agelbert > didactic1

You clearly know little about William Rivers Pitt.

Yes, we ARE bordering on collapse. But it is due to a concentration of ill gotten profits in a tiny group of rapacious oligarchs, NOT because the money is not there.

Your "logic" has been debunked over and over. Privatization ALWAYS increases cost to society, not the other way around, as you fervently, and erroneously, believe.

The reason for that has been clearly laid out by eminent economists who do ALL the math on the costs human business activity on the biosphere we all require to live.

The "logic" of the business community is that IF a COST is not placed on exploiting the resources of the biosphere in an unsustainable (i.e. POLLUTION PRODUCING) manner, a de facto INCENTIVE exists, according to economic theory, to engage in rapacious biosphere damaging business practices. This, OF COURSE, assumes, as your economics education also seems to assume, that ethics play NO ROLE WHATSOEVER in business strategy and decisions to engage in whatever.

This is not only patently false, it is eventually suicidal in a finite resource environment (i.e. our biosphere).

ETHICS has been eschewed by capitalists like you to the detriment of, not just the rest of us, but the biosphere as well. This incredibly short sighted attempt to claim monetary PROFIT obtained regardless of Social Costs INCURRED, BUT NOT NOT PAID, is the be-all-end all of economics is sophistry at its worst. It is willful and deliberate cherry picking of what costs apply and what costs are "external". IOW, it's IRRATIONAL thinking passed off as "fiduciary responsibility to corporate profits".

This eminent economist P. Dasgupta exposes the ethical bankruptcy of this "incentive to be unethical" (Economic Theory of Income Accounting instead of the more comprehensive, BUT NOT USED, Wealth Accounting) in the following video (go to T7:29):
P. Dasgupta is answering a question asked of him at the time point I just gave you. He discusses flow accounts versus stocks and the historical reasons for it. He discusses the problems with measuring GDP.

https://youtu.be/BMXAh_vWSOc

SEE BELOW the results of Capitalist "economics" cherry picked "cost efficient privatization" over nationalization:

(https://collapseofindustrialcivilization.files.wordpress.com/2014/02/img_03911.jpg)

(https://collapseofindustrialcivilization.files.wordpress.com/2013/11/snap-2013-11-06-at-14-31-28.png)


http://www.truth-out.org/opinion/item/40903-we-are-not-broke-trashing-the-austerity-lies
Title: Re: Money
Post by: AGelbert on June 12, 2017, 10:10:27 pm
Agelbert Note: A discussion about Capital (i.e. money for investment in environmental sustainability), Natural Capital, Biosphere Pollution and much more:    (http://www.pic4ever.com/images/tnp.gif)


Biological Extinction | Discussion #9

Casina Pio IV

https://youtu.be/8eRoDEJTGS4

Published on Mar 2, 2017
How to Save the Natural World on Which We Depend

PAS-PASS Workshop
Casina Pio IV, 27 February-1 March 2017
Title: Re: Money
Post by: AGelbert on June 17, 2017, 02:35:58 pm
Agelbert NOTE: Here the biological logic of closing the high seas to fishing (Dr. Lubchenco calls it the Wet West - referring to the "Wild West" term because anything goes and there is ZERO respect for sustainability) is mentioned, although also pointed out by Dr. Lubchenco is the fact that major governmetns refuse to do so.  (http://www.desismileys.com/smileys/desismileys_2955.gif)

As Economist P. Dasgupta laments, collective action to stop, or even ameliorate, this crisis consistently fails to be achieved, even though we are basically out of time for additional delays.

Biological Extinction | Discussion #6

Casina Pio IV


https://youtu.be/3lhDFqA6BpM

Published on Mar 2, 2017

How to Save the Natural World on Which We Depend

PAS-PASS Workshop
Casina Pio IV, 27 February-1 March 2017

On our 4.54 billion year old planet, life is perhaps as much as 3.7 billion years old, photosynthesis and multi-cellularity dozens of times independently around 3.0 billion years old, and the emergence of plants, animals, and fungi onto land, by at least the Ordovician period, perhaps 480 million years ago, forests appearing around 370 million years ago, and the origin of modern groups such as mammals, birds, reptiles, and land plants subsequently. The geological record shows that there have been five major extinction-events in the past, the first of them about 542 million years ago, and suggests that 99% of the species that ever lived (5 billion of them?) have become extinct. The last major extinction event occurred about 66 million years ago, at the end of the Cretaceous Period, and, in general, the number of species on earth and the complexity of their communities has increased steadily until near the present.

Agelbert additional NOTE:  The global warming crisis is itself a symptom of the world view that gave us people like Trump. Unless he starts a nuclear war, he won't kill most of us; but Catastrophic climate change certainly will.

The source of the current and worsening crisis is lack of ethics among government and business elites.

Even though we ARE bordering on collapse, it is due to a concentration of ill gotten profits in a tiny group of rapacious oligarchs, not because the money is not there.

The Wall Street Capitalist "logic" has been debunked over and over. Privatization ALWAYS increases costs to society, not the other way around, as Wall Streeters fervently, and erroneously, believe.

The reason for that has been clearly laid out by eminent economists who do all the math, not just the convenient parts that 'justify' perpetual growth, on the costs human business activity on the biosphere we all require to live.

The "logic" of the business community is that IF a COST is not placed on exploiting the resources of the biosphere in an unsustainable (i.e. POLLUTION PRODUCING) manner, a de facto INCENTIVE exists, according to economic theory, to engage in rapacious biosphere damaging business practices. This, OF COURSE, assumes, as Capitalism's flawed economics education also seems to assume, that ethics play NO ROLE WHATSOEVER in business strategy and decisions to engage in whatever.

This is not only patently false, it is eventually suicidal in a finite resource environment (i.e. our biosphere).
ETHICS has been eschewed by Capitalists to the detriment of, not just the rest of us, but the biosphere as well. This incredibly short sighted attempt to claim monetary PROFIT obtained regardless of Social Costs INCURRED, BUT NOT PAID, is the be-all-end all of economics is sophistry at its worst. It is willful and deliberate cherry picking of what costs apply and what costs are "external". IOW, it's IRRATIONAL thinking passed off as "fiduciary responsibility to corporate profits".

This eminent economist (P. Dasgupta) exposes the ethical bankruptcy of this "incentive to be unethical" (Economic Theory of Income Accounting instead of the more comprehensive, BUT NOT USED, Wealth Accounting) in the following video (go to T7:29):

P. Dasgupta is answering a question asked of him at the time point I just gave you. He discusses flow accounts versus stocks and the historical reasons for it. He discusses the problems with measuring GDP.
https://youtu.be/BMXAh_vWSOc


SEE BELOW the results of Capitalist "economics" cherry picked "cost efficient privatization" over nationalization:

(https://collapseofindustrialcivilization.files.wordpress.com/2014/02/img_03911.jpg)

(https://collapseofindustrialcivilization.files.wordpress.com/2013/11/snap-2013-11-06-at-14-31-28.png)
Title: Re: Money
Post by: AGelbert on June 18, 2017, 01:35:04 pm
(https://c1cleantechnicacom-wpengine.netdna-ssl.com/files/2017/06/oil-price-volatility.png)

What Happens When The Oil Economy Collapses?


June 17th, 2017 by Zachary Shahan

SNIPPET:

The question is simple and stark, but there will be a gradient of effects, and side-effects, and after-effects. As the oil economy collapses, the world will change. And it will change a great deal.

Let’s start with some of the basics.

Oil company values — which are currently topping the charts — will collapse. That means that certain investors (many investors) will “lose money,” or see their net worth drop. To put this into a little more perspective, we highlighted recently that Tesla [TSLA] has passed the US “Big 3” automakers in market cap, currently sitting at $60.15 billion (compared to GM at $51.73 billion and Ford at $44.76 billion). Meanwhile, Exxon’s market cap sits at $354.59 billion, Chevron’s market cap is $204.76 billion, and Saudi Aramco’s expected to be valued at $1–10 trillion.

(https://c1cleantechnicacom-wpengine.netdna-ssl.com/files/2017/06/Venezuela.png)

(https://c1cleantechnicacom-wpengine.netdna-ssl.com/files/2017/06/Venezuela.jpg)
Venezuela today; the USA tomorrow? ???


Some of our top commenters have made it clear — the oil bubble could collapse at any moment.

Full article with GREAT comments guaranteed to give fossil fuelers Excedrin Headache number 666. (http://www.createaforum.com/gallery/renewablerevolution/3-200714191258.bmp):

https://cleantechnica.com/2017/06/17/happens-oil-economy-collapses/ (https://cleantechnica.com/2017/06/17/happens-oil-economy-collapses/)

Agelbert Commentt reply to a fellow that said Big Oil was being forced to transition Renewable Energy: Big Oil has done the "invest in green tech" head fake before, even while they kept funding denier stink tanks and astro-turf pseudo-science propagandists yammering about the sun "getting weaker" and the "greening of the earth" from all that extra CO2 our loyal servants from the fossil fuel industry are providing at "no charge".

"Beyond Petroleum" for BP?  (http://2.bp.blogspot.com/_9HT4xZyDmh4/TOHhxzA0wLI/AAAAAAAAEUk/oeHDS2cfxWQ/s200/Smiley_Angel_Wings_Halo.jpg) Transition by  (http://realsociology.edublogs.org/files/2010/08/460_0___30_0_0_0_0_0_shell_skull_colour.jpg) Shell? Nope!

As you said, big Oil will transition eventually to Green Clean Tech, but ONLY when they have no other option under the law. Until then they will continue to drag their feet and defend polluting profit over people and planet with tooth and corruption claw.

This essay clearly lays out the fact that the Fossil Fuel Industry faces huge liability issues in the immediate future simply because there is ample evidence that they have deliberately sabotaged government efforts to transition to Renewable Energy for several decades. Their criminal behavior is not just Criminal Negligence", but actually mens rea criminal involving premeditated harm to the public welfare. That is why the fossil fuel giants like Exxon have always done everything they could to make the courts their handmaidens (SEE: the remedy for the Exxon Valdez damage reduced to ONE TENTH of the initial amount by the Supine Supreme Court).

Why is Big Oil and Gas so apparently  suicidal and stubborn, when they have the capital in their coffers to totally transition to Renewable Energy?

SEE BELOW:

(http://www.createaforum.com/gallery/renewablerevolution/3-010914214256.png)

As Zach pointed out, Big Oil is part of the global economy. When Big Oil goes down ,and they will, the economy takes a massive hit. That "hit" will depend on how far along any particular segment of the global economy has gone towards a 100% transition to Renewable Energy. New Zealand is getting there. Denmark, Iceland, Scotland, Finland and Portugal, as well as Germany are doing great as well. But the USA, Russia and ALL the other petro-states except maybe Qatar (Qatar is moving in the right Renewable Energy direction - hence fossil fuel tool Trump's attempt to demonize them) will be the most negatively impacted by the collapse of the oil based global economy.

But there is another aspect of risk that human civilization is increasing by delaying the total transition, not just away from fossil fuels, but to an ACTIVE biosphere remediation program to return to 350 PPM of CO2.

This risk is about the coming gigantic ocean storm and wave activity. This is not hyperbole. Two peer reviewed scientific studies published over the last two years predict ocean wave activity beyond the ability of present ship design.

I wrote a rather long (practically a mini-e-book) a while ago in three parts. The bottom line on the risk to our civilization in general and global shipping in particular is laid out in the third part. 

People need to know what we are facing. People need to know the fossil fuel industry knows the score and does not care. They are the bad guy here.


Climate Change, Blue Water Cargo Shipping and Predicted Ocean Wave Activity: PART THREE (http://renewablerevolution.createaforum.com/climate-change/future-earth/msg4074/#msg4074)

SNIPPET from the above article:

Global Civilization is threatened within 25 years or less by the scientifically predicted ocean surface wave activity in the Hansen et al June 2015 study * and the Dutton et al July 2015 study ** evidencing a 6 to 25 meter (19 to 82 feet!) sea level increase in the geological record when the CO2 parts per million (PPM) atmospheric concentration was between 300 and 400PPM. As of October of 2015, the CO2 concentration is at 400PPM. It is increasing at over 3PPM per year.

* Atmos. Chem. Phys. Discuss., 15, 20059–20179, 2015 doi:10.5194/acpd-15-20059-2015 © Author(s) 2015. CC Attribution 3.0 License.

Ice melt, sea level rise and superstorms: evidence from paleoclimate data, climate modeling, and modern observations that 2 C global warming is highly dangerous
J. Hansen1, M. Sato1, P. Hearty2, R. Ruedy3,4, M. Kelley3,4, V. Masson-Delmotte5, G. Russell4, G. Tselioudis4, J. Cao6, E. Rignot7,8, I. Velicogna8,7, E. Kandiano9, K. von Schuckmann10, P. Kharecha1,4, A. N. Legrande4, M. Bauer11, and K.-W. Lo3,4

www.atmos-chem-phys-discuss.net/15/20059/2015/
http://www.atmos-chem-phys-discuss.net/15/20059/2015/acpd-15-20059-2015.pdf

** Science 10 July 2015: Vol. 349  no. 6244  DOI: .1126/science.aaa4019 

Sea-level rise due to polar ice-sheet mass loss during past warm periods
A. Dutton1,*,  A. E. Carlson2,  A. J. Long3,  G. A. Milne4,  P. U. Clark2,  R. DeConto5,  B. P. Horton6,7,  S. Rahmstorf8,  M. E. Raymo9
 
http://www.sciencemag.org/content/349/6244/aaa4019.abstract