They are already videoing your moving car as “practice” for bomb and rocket strikes.
In Spain the activists raised $15,000 for court costs, and pro bono lawyers sued the former IMF chief, who ran the largest Spanish Bank, for fraud. Occupy Wall Street took half a million dollars and did what? Got sidetracked into stop and frisk laws and foreclosures in Brooklyn. Stupid stupid stupid. They need to take whatever money they have left and launch the criminal lawsuits against Jamie Dimon and Lloyd Blankfein that Obama and Eric Holder refuse to launch. Sue the bastards now! Criminal fraud charges now! When we let the government prosecutors handle this they plea bargain away the criminal charges and accept some trifling fine. No more fines. We want criminal prosecutions. Now!
For our economy to recover we need higher interest rates. Low interest rates hurt savers and help bank speculators. Here’s how that happens.
In an economy where real inflation is 5%, grandma and grandpa are forced to put their savings in banks that are only paying them 1% interest. That means these old folks on a fixed income are losing 4% per year of the money that would normally be paid to them in a free market economy – one where interest rates keep pace with inflation. This amount has run into hundreds of billions of dollars, stolen from retirees and the the poor, to benefit whom?
By keeping interest rates low Ben Bernake and the Fed are making huge amounts of money available for big banks to use in their speculations, betting on fluctuations in the British pound, or the price of oil, or utterly opaque derivatives like bets on fluctuations in some index like the Dow Jones.
So grandma and grandpa are being penalized so that big banks can speculate in oil, and drive gas prices up, burning us – the ones who bailed them out – all over again.
But what happens if we raise interest rates to say 5%. Continue reading