The usual explanations refer to bankers being stupid. They did not know what they were doing when they flooded the markets with their cheap credit, or sold swaps or marketed derivatives. Alternatively, it is argued that they were so greedy that did not understand their long-term interests and ruined everything. But the bankers and the financial elite are not stupid, neither are they short-sighted. I believe that things happen because people intend them to happen, unless there are very strong proofs to the contrary. I believe that unless we do something pretty drastic, they will emerge out of this crisis even more rich, more powerful and in fuller control of our lives.
A similar development took place in ancient Egypt, we are told. There were some years of prosperity, and the clever guys hoarded the stuff; afterwards, some years of scarcity duly followed, and the ordinary folk ended up being indebted and enslaved to the clever guys.
You probably recognise this as the story of Joseph and the Pharaoh (Genesis 41). The Pharaoh had a dream of seven nice fat cows coming out of the Nile and feeding in a meadow. And suddenly, seven other, ugly and lean cows came up after them out of the river. “And the ugly lean kine did eat up the seven nice fat kine”, saith the Writ. So Pharaoh awoke and asked for Joseph’s advice; and he advised him to hoard the harvests up until the days of scarcity, when the collected harvests could be used – not just to feed the people, but to enslave the people. And so it worked: all the people of Egypt became slaves of the Pharaoh, thanks to the clever advice of Joseph. For this reason, the people of Egypt bore a serious grudge against Joseph and his tribe of financial advisers.
History is always repeating itself. Latter-day financial advisers have used the archetypal model of Joseph in the Bible, but they went it one better: Instead of enjoying prosperity and being prepared for scarcity, they orchestrated both. First, they opened the gates of credit and got a lot of people hooked. Afterwards, they shut the gates and ushered in their Armageddon weapon, the seven lean kine. The bottom line remains the same as of old: they intend to enslave America and the world. ...
At Stage Two, they fleeced the ordinary Americans who had been quite happy to participate in the grand larceny of Stage One. Their bankruptcy does not hurt them a tiny wee bit. You do not have to be a Jew to use Jewish tactics, and the American bankers – Jewish and non-Jewish alike - took a leaf from traditional Jewish scam book and applied it on an unheard-off scale. And among these scams, bankruptcy was one of the most popular. Enron was a first try; the idea was a very successful one: you take a public commodity and steal it; eventually people will have to buy you out.
If their plan is completed, the ordinary people of the US will find themselves deep in debt, while the profits will go to a happy few. Their plans to “save the economy” are just follow-up for what they did earlier. A few guys make millions, salt their fortune away, and then ask the people to foot the bill, for otherwise, ... more >>
Monday, June 4, 2012
Seven Lean Years
by Israel Shamir :