September 20th, 2012 at 1:35PM
The big lie about capitalism is that everyone can be rich. That’s impossible. Capitalism works only if the vast majority of the population are kept poor enough to never quit working, are kept poor enough to accept distasteful jobs society cannot function without. If everyone were a millionaire, who would empty the trash or repair the sewers? It follows that the poorer the general population is made, the greater the worth of the money held by the wealthy, in terms of the lives which may be bought and sold with it. — Michael Rivero (via tigersmilk, fucknobigbrother) (via entropyforever) (via lawsonry) (via darkandcomely) (via thatafricankid) (via jumpstart-therevolution) (via nutopiancitizen) (via thejazzwriter) (via searchingforknowledge) (via tomorrowhaslanded)
4,970 notes Source: fucknobigbrother #quote#capitalism#currency#income gap
July 21st, 2012 at 6:20PM

How Big Is the US Debt?

$65 trillion. That’s more than Earth’s total GDP.

Also, I enjoyed the Social Security and Medicare jabs, those are some seriously fucked up and unsustainable programs — at this rate, anyways. They need more than funding, they need reform.

#US debt#usa#america#money#debt#currency#economics#economy#economic collapse#policy#government#social security#medicare#idiocy#stupid people#stupidity
July 20th, 2012 at 5:34PM

What I love about the LIBOR scandal:

It’s more proof that conspiracies actually do happen.

People at the top have each other’s emails and phone numbers. They talk to each other. And they strike deals.

The LIBOR, a benchmark for interest rates around the world, is determined by surveying 16 banks on what they think the LIBOR should be, throwing out the 4 highest and the 4 lowest, and averaging the estimates in the middle. It’s determined this way every day.

To rig it, you need pretty much all 16 banks in on it.

Literally the definition of an international banking conspiracy.

#libor#blogpost#banking cartel#banking conspiracy#money#currency#conspiracy#international banking cartel#collusion
July 20th, 2012 at 5:26PM
Well, the Libor scandal presents really the mother of all regulatory dilemmas, because this scandal could not have happened if it was just one or two or even three banks acting as rogue participants. The way Libor works is, they take a survey of 16 banks every day. They take the four highest numbers and the four lowest numbers, and they throw them out. They average out the remaining numbers. And what that means is that pretty much all the banks have to be in on it in order to move the needle in any one direction. So you’re talking about 16 of the world’s biggest, most powerful financial institutions. And if they’re all cooperating in what essentially is a gigantic international price-fixing operation, what do regulators do? — Matt Taibbi: Libor Rate-Fixing Scandal “Biggest Insider Trading You Could Ever Imagine” via Democracy Now! (via theamericanbear)

(via randomactsofchaos)
27 notes Source: theamericanbear #quote#wisdom#banking cartel#international banking cartel#banking#banks#money#currency#conspiracy#libor#libor scandal#economics
July 12th, 2012 at 7:19PM
oldenough2burmom: Forbes: City of Oakland will stop doing business with Goldman Sachs, citing unethical practices with investments. Bitchin

oldenough2burmom:

Forbes: City of Oakland will stop doing business with Goldman Sachs, citing unethical practices with investments.

Bitchin

22 notes Source: oldenough2burmom #oakland#winning#goldman sachs#unethical#banking#fraud#manipulation#finance#economics#money#currency
April 26th, 2012 at 11:29AM

Tumblr, I need your help

Doing my Libya paper, cuz this shit is ridiculous.

If anyone wants to help me figure out global currency markets with regards to the dollar’s dominance, OPEC denominating the dollar for oil prices, and the effect of this on oil-producing countries, I’d love you forever :D

2 notes #libya#currency#markets
April 20th, 2012 at 10:52AM

What have I learned about Libya?

You do not fuck with bankers. They will fuck your shit up. Period.

#libya#currency#bankers
April 20th, 2012 at 10:41AM

Digging, digging, digging…

For GOLD GOLD GOLD.

Jackpot baby.

“A gold dinar would have given oil-rich African and Middle Eastern countries the power to turn around to their energy-hungry customers and say: ‘Sorry, the price has gone up, and we want gold.’

Some say the US and its NATO allies literally could not afford to let that happen.”

I think this’ll be the meat of my paper.

#us foreign policy#libya#gold standard#currency