Zeitgeist: Moving Forward Page #10

born out of the Money Sequence of value.

All you need to know about markets

was written in an editorial in the Wall Street Journal

a couple years ago

it was called 'Lessons of the Brain-Damaged Investor".

And in this editorial, they explained why

people with slight brain damage

do better as investors

than people with normal brain functionality.

Why? Because the slightly

brain-damaged person has no empathy.

That's the key. If you don't have any empathy

you do well as an investor

and so Wall Street breeds people who have no empathy.

To go in there and to make decisions

and to make trades they have no compunction about

no thought whatsoever as to how what they are doing

might affect their fellow human being.

So they breed these robots.

These people who have no souls

and since they don't even want to pay these people anymore -

they are now breeding robots real robots

real algorithmic traders.

Goldman Sachs in the high frequency trading scandal:

they put a computer next to the New York Stock Exchange.

This computer, this "co-located" computer, as they call it:

it front-runs all the trades on the exchange and

hits the exchange with volumes of orders

in ways that "scalp"

pennies and nickels away from the exchange.

It's like they're siphoning money all day long.

They went one quarter last year 30

or 60 straight days without a single down day

and made millions of dollars every single day?

That statistically impossible!

When I worked on Wall Street, the way it works is

everyone kicks upstairs to bribes.

The brokers bribe to the office manager

the office manager bribes to the regional sales manager.

The regional sales manager

bribes to the national sales manager.

It's a common understanding.

At Christmas, who gets the biggest bonus at Christmas

in an average broker job? The compliance officer.

The compliance officer sits there all day long;

he's supposed to be making sure you

don't violate any of the margin rules

and you're "complying" with the law.

Of course, yeah, to the extent that

you can bribe the compliance officer

yeah, that's right, you are complying with the law!

So how has fraud become the system?

It's no longer a byproduct.

It is the system.

It's like that old Woody Allen joke. He says:

Doctor, my brother thinks he's a chicken.

And the doctor says, Take a pill

and that should cure the problem.

And he says, No doctor. You don't understand

We need the eggs.

Okay?

So, the trading of fraudulent claims back and forth

between banks

to generate fees

to generate bonuses

has become the GDP producing growth

engine of the United States economy

even though they are essentially trading fraudulent claims

that there is absolutely no hope of ever paying back.

They are processing, generating and re-securitizing nothing.

If I write $20 billion on a cocktail napkin

and I sell it to J.P. Morgan and J.P. Morgan writes

$20 billion on a cocktail napkin

and we swap those two cocktail napkins at a bar

and we each pay ourselves a quarter of 1% in a fee

we make a lot of money for our Christmas bonus.

We each have on our books a $20 billion cocktail napkin

which has no real value until such time as

the system is no longer able to absorb bogus

cocktail napkins in which case we go to the government

to get bailed out.

And because of Wall street and the global stock market

there are now conservatively about 700 Trillion dollars

of outstanding fraudulent claims -

know as derivatives

still waiting to collapse.

A value amounting to over 10

times the gross domestic product

of the entire planet.

And while we have seen the bailouts of

corporations and banks by governments...

which, of course, comically borrow

their money from banks to begin with.

We are now seeing attempts to bailout whole countries

We are now seeing attempts to bailout whole countries

by conglomerates of other countries

through the International banks.

But how do you bailout a planet?

There is no country out there that isn't now saturated in debt.

The cascade of sovereign debt defaults we have seen

can only be the beginning, when the math is taken into account.

It has been estimated in the United States alone

that income tax would need to be raised to 65%

per person just to cover the interest in the near future.

Economists are now foreshadowing that within a few decades

60% of the countries on the planet will be bankrupt.

But hold on- Let me get this straight.

The world is going bankrupt

whatever the hell that means

because of this idea called "debt"

which doesn't even exist in the physical reality.

It's only part of a game we've invented...

and yet the well being of billions of people

is now being compromised.

Extreme layoffs - tent cities- accelerating poverty

Austerity measures imposed - schools shutting down -

child hunger... and other levels of familial deprivation

all because of this elaborate fiction...

What are we, f***ing stupid?!

Hey! Hey! Mars- my man.

Help a brother out, uh?

Grow up, kid.

Saturn! What's up man?

You remember that smokin' nebula I hooked you up with

a while back?

uh- listen Earth.

We're getting really tired of you.

You've been given everything and yet you waste it all.

You've got plenty of resources and you know it.

Why don't you grow up and learn

some responsibility for Christ's sake.

You're making your mother miserable.

You're on your own, pal.

Yeah, whatever.

[Public Health]

Now, all of this considered...

from the waste machine known as the market system -

to the debt machine known as the monetary system -

hence creating the monetary-market paradigm

which defines the global economy today...

there is one consequence that runs through

the entire machine:

Inequality.

Whether it is market system which creates a natural

gravitation towards monopoly and power consolidation

while also generating pockets of wealthy industries

that tower over others

regardless of utility -

such as the fact that top

hedge fund managers on wall street

now take home over 300 million dollars a year

for contributing literally nothing.

While a scientist looking for a cure for a disease

trying to help humanity

might make 60 thousand dollars a year if they're lucky.

Or whether it is the monetary system

which has class division built right into its structure.

For example:

If I have 1 million dollars to spare and I put it into a CD

at 4% interest -

I will make 40,000 dollars a year.

No social contribution- no nothing.

However, if I'm a lower class person and have to take loans

to buy my car or home

I am paying in interest which

in abstraction

is going to pay that millionaire with the 4% CD.

This stealing from the poor to pay the rich

is a foundational, built in aspect of the monetary system.

And it could be labeled "Structural Classism"..

Of course, historically, social stratification

has always been deemed unfair

but obviously accepted overall

as now 1% of the population owns 40% of the planet's wealth.

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