HOW TO STOP THE GLOBAL ECONOMIC WAR THAT IS COMING?

[Joanne98]

For OpEdNews: Danny Schechter - Writer

HOW TO STOP THE ECONOMIC WAR SWEEPING THE WORLD? CAN WE CHALLENGE THE CRIMES OF OUR TIME

Will The Wall Street Banksters Ever Be Held Accountable?

By Danny Schechter

Director, Plunder The Crime of Our Time

We are all still stuck in the "big Muddy." No, not the wars of old or even the oil disaster. The mud I am referring to is more like quicksand and it sucks anyone who wants to look at what happened in the financial crisis deeper and deeper into it.


Soon, you are buried in shifting sea of so-called "exotic financial instruments," and tranches, derivatives, credit default swaps, naked short-selling, etc and so forth, ad fin item. It's murkier in there than in the oil-infested waters of the Gulf of Mexico.

Stop, my head hurts.

A far simpler explanation, pervasive fraud and financial crime, has been ignored by most of our economic geniuses. As I made my film Plunder The Crime of Our Time offering a "crime narrative," I ran up against the denial that greeted my 2006 film In Debt We Trust warning of a meltdown. Then I was called, a "doom and gloomer." Now I have just been ignored or considered simplistic.

Why is that? There are cultural and ideological reasons. The world of finance is dominated by the elite of the elite, up-right citizens all, including many philanthropists and patrons of the arts. How could such important "big men" ever be accused of slimy crimes?

James K. Galbraith, an economist and the son of John Kenneth Galbraith, the late and great economist who argued that "corporate larceny" was behind the crash of '29, (I honor hin in the DVD of my film) believes that the economics profession, the "experts" who set the terms of the debate are partly responsible. He shared his views in recent Congressional testimony.

"I write to you from a disgraced profession. Economic theory, as widely taught since the 1980s, failed miserably to understand the forces behind the financial crisis. Concepts including "rational expectations," "market discipline," and the "efficient markets hypothesis" led economists to argue that speculation would stabilize prices, that sellers would act to protect their reputations, that caveat emptor could be relied on, and that widespread fraud therefore could not occur. Not all economists believed this but most did.

http://www.opednews.com/articles/HOW-TO-STOP-THE-GLOBAL-ECO-by-Danny-Schechter-100513-527.html

[westerebus]

1. Why would you want to stop it?

All that our Congress has done so far is appeasement. Most governments around the world are playing the extend and pretend game.

We can end this farce in this country quiet quickly.

As we go, so goes the world.

[Demeter]

2. Because it is killing us individually and collectively

It cannot continue. The only question is whether we use the pen or the sword to end it.

[westerebus]

4. My preference is a bloodless revolution.

Revolution none the less. The fastest way I can think of to get the attention of TPTB is to put the pen down and close the check book.

The majority of Americans are still paying their montages, student loans, car payments, credit cards and home loans. If you want to bring the system of debt ownership into reality, then we need to with hold payment.

With the message that is clear and simple enough for a Congressman, a banker, or Wall Streeter to understand.

We will break you.

We will end the cycle of debt here and now.

If we wipe out Wall Street, so be it.

If we wipe out the Banks, so be it.

If Congress refuses to comply to place the welfare of this Nation first, they are gone too.

You don't need a rally.

You don't need a march.

You don't need a party.

All you need is a letter or email to Congress.

Four words: We will break you.

Then pick a date.

I'm partial to July 4th.

All payments stop July 5th.

And no, we are not going to refi or repo our debt. We will wipe the debt clean and start over.

We're America.

We can do that. That's what makes us great.

[Jefferson23]

3. K&R