If you can imagine having Sarah Raskin as an appointed FED person just as the huge bond market collapse takes all of America's wealth ---with Maryland having absolutely no financial regulation and openly allowing credit bond leverage to fill Baltimore City knowing it will bring the city to bankruptcy to then be handed to global corporations---you know how she will vote as regards FED actions after the crash.
'Confiscation of wealth.
The EU has instituted the confiscation of bank accounts, which can be expected to become an international form of governmental theft. This does not automatically mean that other assets, such as precious metals and real estate will also be confiscated, but it does mean that the barrier for confiscation has been eliminated. There is therefore no reason to assume that any asset is safe from any government that approves theft through bail-ins'.
Obama and Congressional neo-liberals voted to allow the same kind of bank account confiscation in the US as happened in European nations falling into IMF financial debt. This coming economic crash with all levels of government heavily in debt with credit bonds and the $20 trillion from last decades corporate frauds never recovered will have the FED declaring Wall Street banks needing another bail out and this time, since the Federal government has no money-----it will come from citizen bank accounts. What they are doing is mortgaging our government coffers at city, state, and Federal level to the point that only corporations will be able to provide the funds for government functions......THIS IS HOW ALL THE PUBLIC SECTOR COMES UNDER CONTROL OF GLOBAL CORPORATIONS. We know Sarah Raskin will be that vote because Maryland and its financial regulation oversight committees allowed the state to be sold out in this way.
Remember, after O'Malley and the Maryland Assembly tied all that credit bond leverage to Maryland real estate property taxes-----he set the stage for the coming economic collapse to fall completely on the Maryland citizens. Don't believe when they tell you these bank confiscations hit the rich----The TROIKA and Wall Street saw Cyprus as a test for these actions and Wall Street and Congress see Detroit as the test case for bringing a major city into bankruptcy and then handing all to global corporations.
AS IMPORTANT AS ALL OF THIS OPEN FRAUD AND PUBLIC MALFEASANCE IN DELIBERATELY USING POLICY TO MOVE ALL WEALTH TO THE TOP----ALL OF THIS DEBT WILL END THE PUBLIC SECTOR AND AS IN BALTIMORE CITY WHERE JOHNS HOPKINS HAS BUILT AN ENTIRE SYSTEM OF CORPORATE NON-PROFITS TO RUN THE CITY----SO TOO WILL THIS BE COMING TO YOUR NECK OF THE WOODS.
Don't vote Republican because Bush neo-cons are a tag team and Republicans are the party of corporate power and wealth.
The Global Elite Are Very Clearly Telling Us That They Plan To Raid Our Bank Accounts
By Michael Snyder, on March 27th, 2013
Don’t be surprised when the global elite confiscate money from your bank account one day. They are already very clearly telling you that they are going to do it. Dutch Finance Minister Jeroen Dijsselbloem is the president of the Eurogroup – an organization of eurozone finance ministers that was instrumental in putting together the Cyprus “deal” – and he has said publicly that what has just happened in Cyprus will serve as a blueprint for future bank bailouts. What that means is that when the chips are down, they are going to come after YOUR money. So why should anyone put a large amount of money in the bank at this point? Perhaps you can make one or two percent on your money if you shop around for a really good deal, but there is also a chance that 40 percent (or more) of your money will be confiscated if the bank fails. And considering the fact that there are vast numbers of banks all over the United States and Europe that are teetering on the verge of insolvency, why would anyone want to take such a risk? What the global elite have done is that they have messed around with the fundamental trust that people have in the banking system. In order for any financial system to work, people must have faith in the safety and security of that financial system. People put their money in the bank because they think that it will be safe there. If you take away that feeling of safety, you jeopardize the entire system.
So exactly how did the big banks in Cyprus get into so much trouble? Well, they have been doing exactly what hundreds of other large banks all over the U.S. and Europe have been doing. They have been gambling with our money. In particular, the big banks in Cyprus made huge bets on Greek sovereign debt which ended up failing.
But what happened in Cyprus is just the tip of the iceberg. All over the planet major financial institutions are being incredibly reckless with client money. They are leveraged to the hilt and they have transformed the global financial system into a gigantic casino.
If they win on their bets, they become fabulously wealthy.
If they lose on their bets, they know that the politicians won’t let the banks fail. They know that they will get bailed out one way or another.
And who pays?
Either our tax dollars are used to fund a government-sponsored bailout, or as we have just witnessed in Cyprus, money is directly confiscated from our bank accounts.
And then the game begins again.
People need to understand that the precedent that has just been set in Cyprus is a game changer.
The next time that a major bank fails in Greece or Italy or Spain (or in the United States for that matter), the precedent that has been set in Cyprus will be looked to as a “template” for how to handle the situation.
Eurogroup president Jeroen Dijsselbloem has even publicly admitted that what just happened in Cyprus will serve as a model for future bank bailouts. Just check out what he said a few days ago…
“If there is a risk in a bank, our first question should be ‘Okay, what are you in the bank going to do about that? What can you do to recapitalise yourself?’. If the bank can’t do it, then we’ll talk to the shareholders and the bondholders, we’ll ask them to contribute in recapitalising the bank, and if necessary the uninsured deposit holders”
Dijsselbloem insists that this will cause people “to think about the risks” before they put their money somewhere…
“It will force all financial institutions, as well as investors, to think about the risks they are taking on because they will now have to realise that it may also hurt them. The risks might come towards them.”
Well, as depositors in Cyprus just found out, there is a risk that you could lose 40 percent (and that is the best case scenario) of your money if you put it in the bank.
Why would anyone want to take that risk – especially in a nation that is already experiencing very serious financial troubles such as Greece, Italy or Spain?
As if that was not enough, Dijsselbloem later went in front of the Dutch parliament and publicly defended a wealth tax like the one that was just imposed in Cyprus.
Dijsselbloem is being widely criticized, and rightfully so. But at least he is being more honest that many other politicians. His predecessor as the head of the Eurogroup, Jean-Claude Juncker, once said that “you have to lie” to the people in order to keep the financial markets calm…
Mr. Dijsselbloem’s style contrasts with that of his predecessor, Jean-Claude Juncker, Luxembourg’s prime minister, who spoke in a low mumble at news conferences and was expert at sidestepping questions. Mr. Juncker once even advocated lying as a way to prevent financial markets from panicking—as they did Monday after Mr. Dijsselbloem’s comments.
“When it becomes serious, you have to lie,” Mr. Juncker said in April 2011. “If you have pre-indicated possible decisions, you are feeding speculation in the financial markets.”
But Dijsselbloem is certainly not the only one among the global elite that is admitting what is coming next. Just check out what Joerg Kraemer, the chief economist at Commerzbank, recently told Handelsblatt about what he believes should be done in Italy…
“A tax rate of 15 percent on financial assets would probably be enough to push the Italian government debt to below the critical level of 100 percent of gross domestic product”
And as I wrote about the other day, the Finance Minister of New Zealand is proposing that bank account holders in his nation should be required to “take a haircut” if any banks in his nation fail.
They are telling us what they plan to do.
They are telling us that they plan to raid all of our bank accounts when the global financial system fails.
And calling it a “haircut” does not change the fact of what it really is. The truth is that when they confiscate money from our bank accounts it is outright theft. Just check out what the Daily Mail had to say about the situation in Cyprus…
People who rob old ladies in the street, or hold up security vans, are branded as thieves. Yet when Germany presides over a heist of billions of pounds from private savers’ Cyprus bank accounts, to ‘save the euro’ for the hundredth time, this is claimed as high statesmanship.
It is nothing of the sort. The deal to secure a €10 billion German bailout of the bankrupt Mediterranean island is one of the nastiest and most immoral political acts of modern times.
It has struck fear into the hearts of hundreds of millions of European citizens, because it establishes a dire precedent.
And when you cause paralysis in the banking system, a once thriving economy can freeze up almost overnight. The following is an excerpt from a report from someone that is actually living over in Cyprus…
As it stands now, nowhere in Cyprus accepts credit or debit cards anymore for fear of not being paid, it is CASH ONLY. Businesses have stopped functioning because they cannot pay employees OR pay for the stock they receive because the banks are closed. If the banks remain closed, the economy will be destroyed and STOP COMPLETELY. Looting, robberies and theft are already on the rise. If the banks open now, there will be a massive run on the bank, and the banks will FAIL loosing all of its deposits, also causing an economic crash. TONIGHT there are demonstrations at most street corners and especially at the parliament building (just 2 miles from me).
Many are thinking that the ECB and EU are allowing Cyprus to fail as a test ground for new financial standards.
Just wanted all you guys to know the real story of whats going on here. Prayers are appreciated (although this is very interesting to watch) many of my local friends have lots of money in the banks.
Would similar things happen in the United States if there was a major banking crisis someday?
That is something to think about.
In any event, the problems in the rest of Europe continue to get even worse…
-The stock market in Greece is crashing. It is down by more than 10 percent over the past two days.
-The stock markets in Italy and Spain are experiencing huge declines as well. Banking stocks are being hit particularly hard.
-The Bank of Spain says that the Spanish economy will sink even deeper into recession this year.
-The latest numbers from the Spanish government show that Spain’s debt problem is rapidly getting worse…
“The central government’s interest bill surged 15 percent last year to 26 billion euros, while tax receipts slumped 21 percent. The cost of servicing debt represented 30 percent of the taxes collected at the end of December, up from 20 percent a year earlier.”
-The euro took quite a tumble on Thursday and the euro will likely continue to decline steadily in the weeks and months to come.
For a very long time I have been warning that the next major wave of the economic collapse is going to originate in Europe.
Hopefully people are starting to see what I am talking about.
As this point, the major banks in Europe are leveraged about 26 to 1, and that is close to the kind of leverage that Lehman Brothers had when it finally collapsed. As a whole, European banks are drowning in debt, they are taking risks that are almost incomprehensible and now faith in those banks has been greatly undermined by what has happened in Cyprus.
Anyone that cannot see a crisis coming in Europe simply does not understand the financial world. A moment of reckoning is rapidly approaching for Europe. The following is from a recent article by Graham Summers…
At the end of the day, the reason Europe hasn’t been fixed is because CAPITAL SIMPLY ISN’T THERE. Europe and its alleged backstops are out of money. This includes Germany, the ECB and the mega-bailout funds such as the ESM.
Germany has already committed to bailouts that equal 5% of its GDP. The single largest transfer payment ever made by one country to another was the Marshall Plan in which the US transferred an amount equal to 5% of its GDP. Germany WILL NOT exceed this. So don’t count on more money from Germany.
The ECB is chock full of garbage debts which have been pledged as collateral for loans. If anyone of significance defaults in Europe, the ECB is insolvent. Sure it can print more money, but once the BIG collateral call hits, money printing is useless because the amount of money the ECB would have to print would implode the system.
And then of course there are the mega bailout funds such as the ESM. The only problem here is that Spain and Italy make up 30% of the ESM’s supposed “funding.” That’s right, nearly one third of the mega-bailout fund’s capital will come from countries that are bankrupt themselves.
What could go wrong?
Right now, close to half of all money that is on deposit at banks in Europe is uninsured. As people move that uninsured money out of the banks, the amount of money that will be required to “fix the banks” will go up even higher.
It would be wise to try to avoid the big banks at this point – especially those with very large exposure to derivatives. Any financial institution that uses customer money to make reckless bets is not to be trusted.
If you can find a small local bank or credit union to do business with you will probably be better off.
And don’t think that this kind of thing can never happen in the United States.
One of the key players that was pushing the idea of a “wealth tax” in Cyprus was the IMF. And everyone knows that the IMF is heavily dominated by the United States. In fact, the headquarters of the IMF is located right in the heart of Washington D.C. not too far from the White House. When I worked in D.C. I would walk by the IMF headquarters quite a bit.
So if the United States thought that confiscating money from bank accounts was a great idea in Cyprus, why wouldn’t they implement such a thing here under similar circumstances?
The global elite are telling us what they plan to do, and the game has dramatically changed.
Move your money while you still can.
Unfortunately, it is already too late for the people of Cyprus.
CORPORATIONS DECIDING WHAT SOCIAL BENEFIT IS----WHAT COULD GO WRONG WITH THAT?
'This sets the stage for defining what social benefit is, something left purposely unspecified in the legislation creating benefit corporations. In the statute, it is defined as “a material, positive impact on society and the environment.”'
If you know the goal of Clinton Wall Street global corporate neo-liberals and Bush neo-cons is to recreate America into a global economic colony with no sovereignty or US Constitution WE THE PEOPLE WITH RIGHTS AS CITIZENS----then you understand why the policy below is not progressive and it is not meant to be a warm and fuzzy community business doing social work ----this is the mechanism to corporations simply donating money to their own benefit corporations that will become the entire public sector. If you live in Baltimore City Johns Hopkins has been doing this for a few decades. O'Malley's Maryland Non-Profits as well as Baltimore Area Grantmaker are simply extensions of this corporation as government ----on the local level, state level, and the Federal government simply dealing with the Global Corporate Tribunal. All taxpayer revenue is dispersed through these corporate non-profits and the corporations appoint the heads of these non-profits.
VOILA----NO PUBLIC SECTOR----THIS IS WHAT A THIRD WORLD CONTROLLED BY US NON-GOVERNMENTAL ORGANIZATIONS LOOKS LIKE
Sarah and Jamie Raskin are working the the NEW WORLD ORDER WHERE PEOPLE ARE HUMAN CAPITAL all while being painted as progressive by neo-liberal pundits, media outlets, and labor and justice organization leaders. I was at a public meeting where Raskins was selling this baloney when someone said loudly----CINDY KNOWS-----and Raskins went running out of the meeting and out of Baltimore.
WE FEEL LIKE A BUSINESS----NO, A NON-PROFIT----NO, A GOVERNMENT ORGANIZATION-----OH, THAT IS HOW YOU ELIMINATE WHAT IT MEANS TO HAVE A FIRST WORLD DEMOCRATIC NATION WITH A STRONG PUBLIC SECTOR PROTECTING THE RIGHTS OF CITIZENS AND PUBLIC INTEREST!
This is why in Maryland we have pols running for office shouting that corporations want to take care of us!
Benefit corporations spark interest and questions
By: Ben Mook Daily Record Legal Affairs Writer February 20, 2012
In some ways, Taharka Brothers Ice Cream Corp. is like any small business with the goal of growing, making a profit and making it big — in its case, maybe even becoming the next Ben & Jerry’s.
While operating on a far smaller scale than the famed Vermont duo, Taharka Brothers shares its social-enterprise spirit in Baltimore’s Hampden neighborhood. But there’s a key difference: while Ben & Jerry’s is now a subsidiary of Unilever, Taharka Brothers is the for-profit subsidiary of a Baltimore-based nonprofit, the Sylvan Beach Foundation Inc.
It’s an arrangement made possible by a pioneering change in Maryland corporate law that allowed companies to include doing good as a part of their business plan. When the law creating the “benefit corporation” designation went into effect on Oct. 1, 2010, Taharka Brothers was one of the first to sign up.
Taharka Brothers’ business is ice cream, sold through retail operations and sold wholesale to restaurants, shops and other retail outlets. But its public benefit is working with young men in Baltimore and teaching them entrepreneurship and business strategy.
“We’ve been a social enterprise since our founding,” said Sean Smeeton, Taharka Brothers’ president. “We felt like being a benefit corporation would make it feel even more like we were running a business rather than a nonprofit. It also put an official stamp of sorts on what we were doing.”
The law gives directors and managers of chartered benefit corporations protection from shareholder derivative lawsuits related to financial performance. Directors who otherwise reasonably perform their duties are immune from liability concerns if they consider other stakeholders in addition to shareholders, such as the community or the environment.
“At the end of the day, what this boils down to is that it’s a way to insulate directors from liability so they can be free to make decisions on concerns other than just maximizing shareholder profit,” said Peter W. Sheehan Jr., with Whiteford Taylor & Preston LLP.
Benefit corporations are required to spell out their values and benefits in their charters. The companies must post annual reports to their websites about how they are doing and bring in a third-party auditor to assess social impact.
State Sen. Jamin B. “Jamie” Raskin, D-Montgomery, who sponsored the benefit corporation legislation, said the idea was to allow for-profit companies to have the “DNA” of nonprofits.
“The benefit corporation isn’t geared toward nonprofits so much as it’s geared toward traditional corporations that want to do good things,” said Jon M. Windrick, a partner with Ascensus Law Group in Silver Spring. “But, I can see where a nonprofit might want to spin off a for-profit subsidiary and use this model.”
“What this does is, it puts another option out there between nonprofits and plain-vanilla corporations,” he added.
It’s hard to know the exact number of companies that have changed their corporate structure to become benefit corporations because the Maryland State Department of Assessments and Taxation does not keep records of benefit corporations. Since last June, however, companies adopting the structure do have to include the word “benefit” in their official name.
The best estimate provided by the state and lawyers who have worked with would-be benefit corporations is that there are probably 20 to 25 such companies in Maryland.
Benefit corporations are often referred to as “B Corps,” although it is something of a misnomer. A benefit corporation is a legal entity while “B Corp” is actually a certification offered by B Lab, a third-party organization that created the model for the benefit corporation and drafted the law that the Maryland legislation was based on. A company can be a B Corp without altering its corporate charter and becoming a state-recognized benefit corporation.
The protections afforded by the new legal entity have, as of yet been largely untested by court. The corporate structure’s primary benefit legally is that it protects directors and management from lawsuits that claim the company’s decision to pursue social benefits went against the best interest of shareholders.
Corporate directors must still adhere to the standard of conduct set forth in Section 2-405.1 of the Maryland General Corporate Law. But directors could be protected if the decision to, say, sell the company to someone other than the highest bidder, could be shown to have social benefit.
This sets the stage for defining what social benefit is, something left purposely unspecified in the legislation creating benefit corporations. In the statute, it is defined as “a material, positive impact on society and the environment.”
“One man’s public good could be another man’s public outrage,” Sheehan said. “It’s intentional that it’s vague, because otherwise you would have governments saying what constitutes public good.”
Another issue that remains to be sorted out is how the new structure affects insurance rates, especially for directors’ and officers’ liability insurance. On its face, the benefit corporation designation would seem to assuage concerns since it protects directors and management if they make decisions that are not always in the direct interest of the bottom line.
But, given the newness of the entity, the designation has not translated into insurance cost savings for benefit corporations.
“It’s a tough thing to underwrite,” Sheehan said. “The insurance companies don’t know how these work. It’s new and uncharted waters for them.”
Additionally, many of the companies interested in this model are not those that would be publicly traded or have many shareholders. And, if they do, the entity may not need the only protection the designation provides.
“The law gets rid of the shareholder liability,” Windrick said. “But, for most of the businesses interested in this kind of form, it’s usually not an issue. Businesses that are doing this are doing it to set themselves apart and be the type of business that clearly seeks to do good.”
“The problem they were designed to address doesn’t really arise,” Sheehan said. “What it does do, though, is it is a great marketing tool for companies to say ‘We’re required by law to look at these factors when we make business decisions.’”
Supporters of the benefit corporation approach continue to try to broaden its appeal. Responding to concerns that limited liability corporations, the most common corporate structure, were not covered in the original legislation, lawmakers last year passed a new bill allowing them in.
As originally passed, the law only let traditional C corporations and S corporations be recognized as benefit corporations.
“I expect that in the next few years there will be more activity,” said James W. Constable, a partner at Wright, Constable & Skeen LLP. “Right now, it’s an interesting concept, but I think the lawyers who do corporate work have had little interest from people looking to start benefit corporations.”
The unanswered questions might be causing some companies to hold off making the change to their corporate charters.
“It’s going to take a while for people to really understand what these do and what the benefits are,” Constable said. “I think it’s still just a little too novel.”
The benefit corporation model also suffers in that it does not afford a company anything over and above the protections for certain liability lawsuits. Unlike a nonprofit, there are no tax breaks. The IRS treats them as they would any other corporation.
Penny J. Minna, a partner at DLA Piper in Baltimore, said she has had discussions with a few clients about pursuing the benefit corporation model. But so far, she said, it has not proven to be a perfect fit for many companies.
“We’re still pretty much in the wait-and-see mode …,” she said. “Beyond the liability protection, I don’t think there’s wide enough acceptance of the form and its benefits.”
Sheehan has spent a lot of time defending directors and management of companies being sued by shareholders.
“About two years ago I stumbled across this concept of a benefit corporation,” Sheehan said. “Even though I had never run across a case where shareholders were complaining the directors of a company were paying too much attention to social concerns, I thought it might make a nice, niche addition to my practice.”
Since then, Sheehan said, he has helped shepherd two companies through the process to change their corporate structure to become benefit corporations. But after that push, he said, demand has been pretty slack.
“It’s just not a model that works for everyone,” he said.
The numbers might not reflect it, but there is and has been a lot of enthusiasm for the business model. Since Maryland adopted the benefit corporation structure, six other states, including Virginia, New York and California, have adopted similar legislation.
“The benefit corporation movement is still in its infancy,” Raskin said. “There is a hunger in the country for a kind of business capitalism that is consistent with our other social priorities and values. Obviously, people don’t want the Enrons, AIGs or BPs to define what business means in America.”
Smeeton, of Taharka Brothers, said when he heard about the new law, he knew it would be a perfect fit for the company’s plan to spin off the ice cream business as a for-profit enterprise. He said he went to the Department of Assessments and Taxation first thing on the morning of Oct. 1, 2010, the day the legislation took effect.
“We were very excited when we decided to do this and wanted to be first,” Smeeton said. “I got there, didn’t see anyone else in line and thought we’d be the first benefit corporation in the country. I thought it would be great for marketing. Unfortunately, I stepped out for a minute and when I got back, there were five people in line.”
Even though he wasn’t first, Smeeton said he was still excited that the designation would help the company in its core social goal of training a new generation of businessmen from the inner city.
While the group of companies that have adopted the new business model may be small, it is diverse.
Emory Knoll Farms in Street grows plants exclusively for use on green rooftops on a farm that has been in a co-owner’s family since 1709. Clean Currents Benefit LLC, a Rockville-based supplier of wind and alternative energy to residences and businesses, is another one. Others include a Washington, D.C., pet supply company planning to expand into Maryland and an Easton manufacturer of performance apparel aimed at anglers.
Growing the numbers
Minna and others say the form could get a boost in popularity if there were other incentives attached to becoming a benefit corporation — tax breaks, for example.
“Right now, companies seem to be picking it for philosophical or social reasons,” Minna said. “There needs to be a little more incentive for people to choose it.”
The Montgomery County delegation to the General Assembly is looking at just such an incentive. The delegation introduced HB726 on Feb. 8; it would allow the county government to grant property tax credits to benefit corporations and benefit LLCs.
As of Monday, the bill remained in the Ways and Means Committee.
Raskin said while the benefit corporation movement is still growing, it has its roots in the founding of the country. He said the original corporate structure was similar to the current benefit corporation — a corporation would be formed specifically for something that benefitted the community at large, like building a bridge.
“When the country was first started, Washington and Jefferson and the others were very skeptical of corporations and wanted to keep them on a short leash,” Raskin said. “But, in the early 20th century, after the Delaware corporate code, all bets were off and corporations were given the power to do what was in the best interest of the shareholders.”
“And,” he added, “while this is still very much in its infancy I’m very encouraged by the trend line. We’re getting daily inquires from people interested in being benefit corporations.”
Democratic voters may not like Nader but he had it right as he ran against Bill Clinton. What Nader does in his new book is talk about alliances in America as I do and he states as I do that it is not too late to reverse this. THE MOST IMPORTANT STEP IS REBUILDING THE PUBLIC SECTOR AND MAKING IT STRONG IN SUPPORTING WE THE PEOPLE AND OUR PUBLIC INTEREST.
None of what Raskins and Johns Hopkins is doing with corporate non-profits as everything public does this......it is the opposite of where we go. This is corporate fascism.
Baltimore City is ground zero for this corporate control of all government functions---we have a history of what Obama and Congressional neo-liberals and Bush neo-cons are trying to do with this coming economic crash. It is illegal and a COUP and we can reverse anything they install-----BUT WE NEED PEOPLE ENGAGED IN POLITICS----BEING LEADERS IN COMMUNITIES AND GET THESE DEVELOPMENT CORPORATIONS OUT OF CONTROLLING ALL OF OUR REVENUE.
American Terrorism Nader Calls U. S. “Corporate Fascism”
By / May 20th, 2008
Nader Calls U. S. “Corporate Fascism” By / May 20th, 2008
by Jonathan Nack
OAKLAND – Independent candidate for President Ralph Nader described the current government and economic system of the United States as “corporate fascism” at a campaign event held in Berkeley on May 12. “We’re living in a country whose democracy is beyond the breaking point. The extent of corporate control has developed into corporate fascism,” declared Nader. “We don’t have a capitalist economic system – it’s corporate fascism. Every major tenet of capitalism is violated by corporate power,” said Nader. Only small businesses still practice capitalism, according to Nader.
Nader explained that major corporations buy politicians and write the laws through their lobbyists, thus owning the Capitol. They receive billions in government subsidies and hand-outs, but 68 percent of corporations pay no federal income tax, according to Nader.
Corporate fascism not only rules U. S. politics and the economy, but also other aspects of life including the way people think, said Nader. “We grow up corporate with commercialized childhoods. We get a corporate education.”
Nader has spent his life fighting corporate power, so his anti-corporate theme is not new, having been at the center of his three previous campaigns for President. However, he clearly thinks things have gotten much worse and that the accumulation of corporate power has gone beyond the tipping point.
“We used to be able to challenge corporate influence in Washington, but they have so much power now that we can’t. The corporations are laughing at us. They’re daring us to try to take away their power,” said Nader.
The choice between a Democrat and a Republican is to Nader a “choice between horrible and terrible.” He warned against voting for a candidate because they’re not as bad as the other. “If you have a low expectation level of politicians, then they’re going to oblige you,” said Nader.
Nader warned against continued complacency. “What’s wrong with us? Are we the biggest suckers? Are we super-suckers?” He exhorted his audience at the Berkeley Fellowship of Unitarian-Universalists to find their “constructive anger.”
He doesn’t think it’s too late to turn things around, but it will require, “people to break from corporate thinking.” Nader called on Americans to reach out to each other, get active and organized, and to make demands for what they need and want.
Nader called on people to become “tough citizens” who are “resilient, informed, and able to bounce back.”
In Maryland, anything is a social concern and since we have no Department of Labor, Licencing, or Regulation----no one is checking, so benefit corporations are simply another way corporations pay no taxes and now they can tell us what are social concerns are---Bill Gates famously used this benefits tax dodge in moving hundreds of billions of dollars to his Gates Foundation Health Initiative that was simply a startup funding for his new global Pharma corporation. He pretended to be fighting disease in third world while patenting all of the successful research and then writing the Trans Pacific Trade Pact health policy killing public health subsidy. Meanwhile his Microsoft shareholders shouting that Gates should have given that money to them in shareholder payments----were told it was being done for the good of the world.
If you are watching TV you see Rand Paul gearing up for the 2016 Presidential election by making Libertarians the only political group even mentioning the coming economic collapse and the bad Congressional and FED policy that created the crash.
LIBERTARIANS ARE THE SAME AS CLINTON NEO-LIBERALS THINKING WEALTH AND CORPORATIONS RULE, SO DO NOT THINK RAND PAUL IS SEEKING TO SAVE THE AMERICAN PEOPLE.
Simply engaging in politics----being the candidates in Democratic primaries to get rid of these global corporate pols and the leaders in community organizations will allow the American people to control what happens after this coming collapse.
Below you see all the kinds of social concerns coming with the next collapse----using American people's savings to bail out Wall Street ----that's a social concern.
After the Collapse: Six Likely Events That Will Follow an Economic Crash
704740 Mac Slavo
January 21, 2014
It’s not too difficult to understand that we are well on our way to a paradigm shift in America; in fact we’re in the midst of it right now. The writing is on the wall and can no longer be ignored.
Right now, the dollar is only propped up by foreign demand.
The US government has run up trillions of dollars in debt, and given the recent debates over the country’s debt ceiling, we can rest assured that neither Congress or the President will act to curtail spending and balance the budget. We will continue adding trillions of dollars to the national debt clock until such time that our creditors no longer lend us money.
From the monetary side, the Federal Reserve’s response to this unprecedented crisis has been to simply “print” more money as is necessary. On top of the trillions in dollars already printed thus far, the Fed continues quantitative easing to the tune of about $80 billion per month. It’s the only arrow left in the Fed’s quiver, because failing to inject these billions into stock markets and banks will lead to an almost instant collapse of the U.S. financial system. Unfortunately, the current strategy is chock full of its own pitfalls, the least of which being the real possibility of a hyperinflationary environment developing over coming months and years.
On Main Street, average Americans have seen their wealth decimated. They’ve lost millions of jobs and homes over the course of the last five years. And if recent reports are any indication, the destruction of the middle class will continue unabated for years to come. The resulting effect is a vicious negative feedback loop that continues to build upon itself. Americans no longer have money (or credit) to spend to prop up the economy, thus more jobs will be lost, leading to more people requiring government assistance for everything from food to shelter.
We are, on every level, facing a collapse of unprecedented scale.
As noted by International Man Jeff Thomas of Casey Research, it’s not that difficult of an exercise to predict what’s coming next:
The number of people whose eyes have been opened seems to be growing, and many of them are asking what the collapse will look like as it unfolds. What will the symptoms be?
Well, the primary events are fairly predictable: they would include major collapses in the bond and stock markets and possible sudden deflation (primarily of assets), followed by dramatic inflation, if not hyperinflation (primarily of commodities), followed by a crash of several major currencies, particularly the euro and the US dollar.
We know a collapse is coming… If you’re paying attention you probably have the distinct feeling that we are in the middle of it right now. And guess what? The government and military know it’s coming too, as evidenced by large-scale simulations of exactly such an event and its fallout.
But the collapse of our financial system, or hyperinflation of our currency, or a meltdown in US Treasuries is only the beginning. We know some or all of these events are all but a foregone conclusion.
What we don’t know is the timing of the trigger event that causes the global panic to ensue and what will happen after these primary events take hold.
According to Jeff Thomas, while we can’t know for sure, the following “secondary events” are the most likely outcomes when the system as we have come to know it destabilizes.
The secondary events will be less certain, but likely: increased unemployment, currency controls, protective tariffs, severe depression, etc.
But, along the way, there will be numerous surprises—actions taken by governments that may be as unprecedented as they would be unlawful. Why? Because, again, such actions are the norm when a government finds itself losing its grip over the people it perceives as its minions. Here are a few:
- Travel Restrictions. This will begin with restrictions on foreign travel, including suspension/removal of passports. (This has begun in a small way in both the EU and US.) Later, travel restrictions will be extended within the boundaries of countries (highway checkpoints, etc.)
- Confiscation of wealth. The EU has instituted the confiscation of bank accounts, which can be expected to become an international form of governmental theft. This does not automatically mean that other assets, such as precious metals and real estate will also be confiscated, but it does mean that the barrier for confiscation has been eliminated. There is therefore no reason to assume that any asset is safe from any government that approves theft through bail-ins.
- Food Shortages. The food industry operates on very small profit margins and survives only as a result of quick payment of invoices. With dramatic inflation, marginal businesses (suppliers, wholesalers, and retailers) will fall by the wayside. The percentage of failing businesses will be dependent upon the duration and severity of the inflationary trend.
- Squatters Rebellions. A dramatic increase in the number of home and business foreclosures will result in homelessness for anyone whose debt exceeds his ability to pay—even those who presently appear to be well-off. As numbers rise significantly, a new homeless class will be created amongst the former middle class. As they become more numerous, large scale ownership of property may give way to large scale “possession” of property.
- Riots. These will likely happen spontaneously due to the above conditions, but if not, governments will create them to justify their desire for greater control of the masses.
- Martial Law. The US has already prepared for this, with the passing of the 2012 National Defense Authorization Act (NDAA), which many interpret as declaring the US to be a “battlefield.” The NDAA allows the suspension of habeas corpus, indefinite detention, and the assumption that any resident may be considered an enemy combatant. Similar legislation may be expected in other countries that perceive martial law as a solution to civil unrest.
The above list is purposely brief—a sampling of eventualities that, should they occur, will almost definitely come unannounced. As the decline unfolds, they will surely happen with greater frequency.
We could go point by point on this list and provide a plethora of evidence to validate Jeff’s claims, but that would take pages upon pages of references.
The fact is that the US government, for the last decade, has been moving increasingly closer to what can only be described as a police state. With watch lists, militarized police departments, legislative actions, and executive orders the government has already set the stage for these secondary events.
When the system itself is no longer able to support the tens of millions of Americans receiving monthly government assistance, one hiccup could set the whole thing ablaze.