MALCOLM TURNBULL is a dangerous man and worse than HERBERT HOOVER.
Matt Taibbi: “The first thing you need to know about Goldman Sachs is that it’s everywhere. The world’s most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.”
The aftermath of the Wall Street largess in Ponzi Financing in the 1920's is identical today in Australia. The easy credit, dud mortgages for people to invest in the stock exchange, the housing market and buying motor cars with unaffordable loans: All these things led to the 1929 crash. PONZI FINANCING became the norm. Banksters pumped up the Property Market to a level which was unsustainable and beyond belief. Elites pumped up the stock exchange to crash levels, yet managed to get their own wealth out just in time. They pumped up easy credit greater than the whole of Europe and the UK combined. The Bankers controlling Government, became illusionists, creating the illusion of the "great American way of life." The Elites became MEGA RICH on the back of the middle class, the poor were used to poverty. The bank victims were thrown into poverty and under the FREE MARKET BUS, and were the MIDDLE CLASS Mums and Dads, tricked by greedy bankers and extreme right wing dishonest pollies like HOOVER.
Bankers were already in bed with President HOOVER, convincing ordinary hard working citizens that if they borrowed money they could make themselves better off financially in short space of time. The entire 1920's bank driven sales spiel is similar to that experienced by bank victims in 2017.
President Hoover's idiotic 1920's free market POLICIES crippled America as the crash happened over 3 weeks, starting on October 24th, 1929.
The effect took one year to be felt throughout the United States, causing massive shanty towns to be built out of tin and cardboard (in central parks) as the pile of homeless grew like topsy. Soup kitchens saw long queues and abject hunger. An entire generation of children were thrown into POVERTY. Charities were overwhelmed. Unemployment became the 'norm.' One in five Americans owned a car they could not afford, homes they could not afford. Henry Ford made a killing. The first real effects of furniture being thrown into the streets did not occur until October 1930. Government POLICY of "creating wealth" and "free markets" and rampant bank "lending" showed up America as being utterly corrupted by Bankers crowded into WALL STREET. And the winners were the ELITES and their political allies.
American Bankers also managed to sink Germany into hideous poverty causing the rise of Hitler. Why? America was lending money to Germany after WWI. The Wall Street crash led to the USA stopping supply of money to Germany, and industrialist country still recovering from the Great War. Sometimes we really need to step back and see what damage FREE MARKET POLICY does to our own economy and Globally. The FM Policy is designed to make participant Politicians and their Banker Mates richer beyond their own greedy idea of "society." The "them and us" mentality. Riches at the expense of others.
By 1932-1933 Senator Glass and Senator Steagall presented a private members bill to Parliament to have the Bankers brought under control, to ensure regulation of banks was crucial to a safe economy. The ripple effect, affected not only Germany, but other European countries rebuilding after the Great War. Anyone who believes Free Markets for Bankers is good for the rest of us, please learn from the pages of history, or we are doomed to repeat the entire chapter and verse from 100 years ago when the first activities started with a massive BOOM TIME and by necessity, led a decade later to the 1929 WALL STREET Bank driven CRASH. Thatcherism and Reaganism springs to mind and the 1983 disasters. Then on to the GFC 2008 and Bushism. These pillars of the universe had one thing in common: They were all extreme right wing Liberal Free Market Thinkers (Tories, Republican, Liberals, Conservatives). Each has left a trail of lies and disasters.
Lest we forget those idiotic elitist policies which have risen yet again with deregulation of Banks. History 1770 - 2017 warns us, How dare these morons, expect us to pay for their own largess from our meager earnings and welfare after working hard and paying our due taxes for 45 years.
Bankers are the most untrustworthy, most intimidating, most selfish group of people on this planet. Oh and yes, they rarely paid tax, hence the politically permitted tax havens, fit for the purpose of hiding the loot from the taxman.
Denise L Brailey www.facebook.com/BFCSA/ Twitter @DeniseBrailey denise@bfcsa.com.au Ph; 0401 642 344