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  Nostalgia ain't what it used to be

Friday, 19 January, 2018
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The New Global Economy

Date: 01 September, 2007

By: Chief

Imaget really isn't all that new. Just faces or institution names have changed. That is about all.

While Newt Gingrich made all kinds of waves back in the early to mid 1990s about how we, as in the U.S., were losing out to the global economy our country in fact has been embracing the idea and using it for over 200 years. Indeed, contained within the Federalist Papers are numerous chapters about national and international intercourse (commerce) and its benefits to our fledgling nation.

What is new or has changed over the course of the last few decades is the 'outsourcing' of work or an entire industry from country 'A' to country 'B'. And that is anything but good for the citizens of whatever country is losing the work or industry. Now unless this trend is brought to a rip-roaring halt, as in pronto, we and our posterity are screwed.

The founders of this country never thought of or took into account — greed.

The bankers

Bankers, by and large, are about as well thought of as lawyers, doctors, politicians and the infamous tax man. In short, bankers are hated with a passion. And not without good reason. How many businesses, homes, farms and even families have been torn apart and destroyed courtesy of bankers? Millions. Indeed, wars have been started over a country's debt. Yeah, bankers are about as popular as a polecat at a Sunday school picnic.

Now I am not talking about your local bank with a whopping two or three offices. Small banks can be more of a help than a hindrance. I am, however, talking about major national and international banks and other financial institutions such as credit companies, insurance companies and investment companies, both private and public. That is where the problem is and has been for quite literally about 1,000 years. 'Leeches' is another and rather popular name for financial institutions.

What is worse is when you couple or marry international finance with politicians and political ambition and then you end up with a marriage from the bowels of the Earth. It is an unholy alliance of the worst kind, without doubt.

Which is, by the way, exactly what is happening in our country and others as well. And slowly We the People, along with citizens of other countries, are opposing and demanding the unholy alliance or marriage be permanently dissolved. It is going to be one heck-of-a-tussle but cannot happen soon enough to suit me.

The Knights Templar

It is a matter of historical record, believe it or not, that our "modern" banking system was originally started by the Templars. Basically starting at 1139A.D., after successfully blackmailing the Papacy of Pope Innocent II, the Templar's power grew immensely and due to the the not so mere fact that they were quite well known throughout Europe and most of the middle east, the Templars got involved in the banking business.

Indeed it was the Templars who instituted the idea of "interest" (it was called rent for religious reasons) on a loan, letters of credit and branch offices, if you will, of banks all over Europe. Numerous nobles and monarchs made use of the Templar banks to fund wars, pay off debt and bribe or kill adversaries. The Templar's down fall was a direct result of their banking power.

Now computers and computer networks in the hands of financial institutions have replaced the encrypted letters and encrypted letters of credit the Templars used, but the power remains with the financial companies. As I said at the beginning of this story — not a whole lot has changed.

Most every single financial transaction made by person or company has a fee. The size of the fee depends upon the type of transaction and the amount of the transaction. Bankers are not stupid. Greedy and power hungry (the two are synonymous) — yes. But not stupid. Further, most federal law and regulation favor the banks and other financial institutions — instead of We the People. As an example, banks and credit companies are not required to inform account holders of a data breach. They tend to do so but are not required to do so. Your identity has been stolen and the bank or credit company says 'to bad, so sad'. Blows doesn't it?

Financial institutions touch every aspect of our economy as well. Their sticky fingers are into each economic pie or piece thereof for their own enrichment. A prime example of this is the oil business. To be more precise it is the retail fuel business. Quoting Mr. Bill Shipley, testifying on behalf the National Association of Convenience Stores (NACS) and the Society of Independent Gasoline Marketers of America (SIGMA) before the Senate Energy committee (September, 2005):

"In August 2003, a credit card company was receiving approximately $1.50 per barrel; in 2005, that company is receiving approximately $3 per barrel."

It is very important to bear in mind the inflation rate between 2003 and 2005 was around 2 percent - 2.5 percent per year. But the credit card companies were charging a 100% increase in fees. Why? Two reasons:

That is one tiny example of the far reaching consequences of bankers and lenders running and ruining the lives of We the People. There are more — many, many more. You want one? Okay, how about "restructuring" fees charged by various banks and credit companies to bail out GM and Ford? Over 30,000 U.S. jobs have been lost. That means there are over 30,000 members of We the People who are now out of work. The credit companies and banks are making multiple millions of dollars off of these two deals. This is not even mentioning the Wall Street thugs.

An even bigger screwing of We the People was the bankruptcy proceedings of United Airlines. United and the restructuring leeches convinced the federal bankruptcy judge to basically void all existing labor agreements and worst of all — rewrite, in United's favor, existing retirement benefits contracts.

In the end United and the leeches got what they wanted and We the People got screwed in more ways than one. Disgusting.

Growth

What you or I see as company growth is not at all what banks, credit companies and Wall Street see as growth.

We see growth as a company making an excellent good product or service and thereby making a fair profit which keeps us employed and the company continuing to slowly grow and employ more people. Steady work is the key here.

Banks, credit companies and Wall Street see growth as a company making a popular product or service, charging a fortune for it, making a huge profit, watching the company's stock value rise and aggressive production or manufacturing cost cuts whenever possible. There is no room for steady work for We the People. Just high profits and happy shareholders.

Treaties

Economic treaties are the lynch pin for banks, credit companies and stock markets. Lobbyists for these leeches push Congress hard for 'more breaks for business'. However, honestly translated, 'more breaks for business' means more profit for the leeches and less work for We the People. It is as simple as that.

H1B work visas bring into the U.S. high tech workers to displace and replace American citizen high tech workers. Wall Street thinks this is a great idea. So do the bank and credit companies. According to the leeches cheap labor is a wonderful thing. The North American Free Trade Agreement (NAFTA) has sent tens of thousands of former American manufacturing jobs — south of the border. More unemployed Americans. More We the People who are out of work. More bankruptcy proceedings.

To be sure, it was banks and credit companies who lobbied Congress long and hard for years in order to get the personal bankruptcy law changed to favor banks and credit companies. They succeeded. We the People got screwed — again.

Bringing things a little closer to home, here in New Mexico, the chili capital of the U.S., our chili farmers are having some real competitive problems. Not with Mexico as you might think either. Oh no, but from Asia and Pakistan. Price wise, our New Mexico farmers cannot compete against Asia and Pakistan (who pay $1.00 per day in wages). Indeed neither can Mexico (who pay $5.00 or $6.00 per day in wages). Some farmers are considering fully automating their farms in an effort to compete against Asia and Pakistan. More lost jobs. Probably more lost farms as well. The leeches have struck again, how lovely.

Now to bring it even closer to home, let us for a moment talk about a home. Specifically a mortgage. Just try to purchase survivors insurance which would automatically pay off your mortgage should you die or become seriously injured. It just about cannot be done — anymore. What used to be the normal 40 years ago when buying a house is basically no more. For a very few extra dollars per month your mortgage was insured against death or injury. That concept is now on the verge of being extinct. You die or become injured and cannot work, you lose your house. The mortgage and insurance industry are very happy about this turn of events. They can now foreclose and resell the house and property. Widows and children who lost their husbands and fathers and now just lost their home as well are not at all pleased.

This wonderful new global economy — isn't. We need to take care of our own first, last and always. To hell with the rest of the world. Especially financial institutions that are quickly making us into a backwater third world country.

The destruction of the Knights Templar came on order of Pope Clement V. They were arrested, tortured and burned alive at the stake on October 13th (a Friday), 1307. Perhaps if the same fate should befall officers of financial institutions and members of Congress this 'new and improved' global economy, which currently benefits only the leeches, would finally benefit We the People. Which is as it should be.

Now that is truly a lovely idea.

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