Rolling out the three trite, favorite villains of these folks, money laundering, regulatory arbitrage and tax avoidance and evasion, former U.S. Treasury Secretary and now back safely ensconced at his beloved Harvard, Lawrence Summers regurgitates of his pet topic the "dark side of capital mobility." This is code for a cashless society. This is what he implies is hurting the now nearly extinct and disgruntled American and global middle class, a group he and his fellow travelers, most of whom most of the time reside in dank, dark econometric cellars, worked long and hard to destroy.
But let's just take this phony money laundering meme, a real smokescreen. It has about as much impact on middle class peoples' daily lives--supposedly one of the vital missing ingredients in Summers' view to peace and world harmony--as a male flea crawling up the hind leg of a 2,500 pound female elephant with rough sex on its mind.
The tip off here is anytime anyone disagrees with the status quo, their point of view is baseless and deserving of what is calculated and intended as a pejorative. Now that the uproar about global inequality is getting more uproarious these elite snobs want to discuss tossing a few more of their covet crumbs to the masses.
Without being threatened--and you now know by their massive display of concern, they are--does anybody really believe they were on the voluntary brink of a giant show of largess. Here's a piece from one of the current sagas making the rounds today, the mess at Deutsche Bank. Elitists like Summers would have you believe that all of this behind the scenes favoritism was going on unbeknownst to his crew. Recall Magic Mario's "Whatever it takes" was, what many failed to realize at the time, an all-inclusive term, as it always has been with these bureaucrats, politicians and money lords.
Here's a quote from the same issue of FT.
Deutsche Bank was given special treatment in the summer EU stress tests that promised to restore faith in Europe’s banks by assessing all of their finances in the same way.
Germany’s biggest lender, which has seen its share price fall as much as 22 per cent in recent weeks on fears that it could face a US fine of up to $14bn, has been using the results of the July stress tests as evidence of its healthy finances.
But the Financial Times has learnt that Deutsche’s result was boosted by a special concession agreed by its supervisor, the European Central Bank.
Deutsche’s results included the $4bn proceeds from selling its stake in Chinese lender Hua Xia even though the deal had not been done by the end of 2015, the official cut-off point for transactions to be included. The Hua Xia sale was agreed in December 2015. It has still not been completed and now faces a delay after missing a regulatory deadline last month, though the bank is still confident of completion this year.
ft.com/topics/organisations/Deutsche_Bank_AG
And just for the record the French also received special treatment. So here you have the two largest economies in the EU sucking up to the public trough to help repair their financial misgivings.. And now Matteo Renzi, rightfully so, wants his turn at the watering hole. And here is the classic case of elitism, EU-style. Brussels' bullies are saying, "But, Matteo, be reasonable. You're too far down the pecking order!"
Now you might just get a glimpse why Trump and Trumpism, as these epithet-loving demagogues, is such a threat to the status quo. No, they're not just a bunch of angry, uneducated, disenfranchised blue collar white Luddites. But even if they were, why is it other seemingly cohesive disenchanted groups in so-called democracies (See Germany!) can express their concerns,but not white people. We're waiting to hear from you, Angela.
There's only one reason: The fix is in. And it has been for a long time.
No comments:
Post a Comment