http://online.wsj.com/article/SB10001424052748703699204575017191336805982.html?mod=WSJ-WSJ-US-News-5
"The Supreme Court decision stripped away rules that limited the ability of corporations, unions and other organizations to fund and organize their own political campaigns for or against candidates. The court also struck down a part of the McCain-Feingold campaign-finance law that prevented any independent political group from running advertisements with 30 days of a primary election or 60 days before a general election. Together, the decisions make it easier for corporations, labor unions and other entities to mount political campaigns for and against candidates for Congress and the White House."
This is amazing! The lines of free speech have now been bastardized beyond any reasonable expectation our constitutional congress had in mind.
It is a well established ruling that we cannot (and should not) yell "FIRE" in a crowded theater if in fact there is no fire. Common sense, really. But the Supreme Court ruling as such was made FOR THE COMMON GOOD. FOR THE BENEFIT OF ALL.
Removing campaign finance regulation does completely the opposite. It removes safe-guards that were in place specifically for the common good.
You see, every game has rules and regulations. Period. Boundaries are crucial for games to have a level playing field. And don't think for a second our democracy isn't a game. It has winners, it has losers, and it has bitter rivals pitted against one another. And it is a participatory spectator sport for sure!
Basically, campaign finance regulation IS a boundary which gives participants in our democracy game a level footing for their vote; it is a limit on the potential influence a financially privileged group can have over the less wealthy.
It IS NOT a limit on free speech! It is a limit on free-reign!
Anyone can still say whatever they want, however they want, for as long as they want... until the money runs out. This way, the financial influence of a privileged group CANNOT (AS THEY SHOULD NOT) have greater ability to influence our government.
CAREER POLITICIANS are not public servants. They are in their position for no other reason than to promote special interests.
This ACTIVIST court of ours has now taken us one step closer to the marriage of the corporation and government... a fascist state.
Here is a quote from Chris Hedges (and if you don't know who he is, GOOGLE IT!)
"We live in a corporate state. We live in a state that no longer responds to the interests of its citizens, but does the bidding of corporations. There is no shortage of examples of that, from the largest transference of wealth upwards in American history, to the so-called healthcare debate, where for profit healthcare industries are literally profiting off of death, any debate about healthcare must begin from the factual understanding that the for profit healthcare industry is the problem. Then we can debate what we do. But unfortunately, and many, many citizens know that, across the floor, but we can’t have it because we are completely controlled. We’ve undergone a kind of coup d‘etat in slow motion. We live in a kind of inverted totalitarianism where the façade of democracy and the constitution are held up as an ideal but the actual levers of power are driven by very destructive forces."
And be sure to check this out...
http://vodpod.com/watch/2398111-chris-hedges-empire-of-illusion-part-3-of-3
Showing posts with label finance. Show all posts
Showing posts with label finance. Show all posts
Thursday, January 21, 2010
Saturday, September 19, 2009
conversations on health insurance and "health care" system reform- try a dose of common sense
each state mandates drivers have liability insurance coverage on their car. additionally, lenders require full coverage if they hold a lien on a vehicle. but it's our choice of whether or not we even want to buy insurance based on our decision to be a driver, and/or take a loan to buy a car. if we don't drive, or don't buy cars we can't afford to pay in full up front, we aren't forced to buy one insurance or the other.
when we buy a house, lenders require we pay PMI if we don't have 20% equity. but again, it's our choice of whether or not to pay PMI simply by renting instead of buying, or waiting until we have 20% down payment before taking the plunge. it's all our choice.
basically, we pay “extra” for these privileges.
but can our elected leaders really require/force/mandate us to buy health insurance just for “existing” in this country? just to "live"? requiring health insurance? is it such a privilege to be born in the USA?
come on, really... what will requiring health insurance truly accomplish?
plain and simple, someone's going to get rich over this. guess who? that's right... the insurance companies! big business. the "financial" world. can you say AIG, banks, investment houses and stock exchanges.
the focus has been shifted away from promoting the healthy well-being of our nation, and put squarely on simply making money, (which, by the way, is a far cry from truly becoming wealthy or even amassing wealth).
now for a dose of common sense...
the concept of “health insurance” is bs. we don't buy “health” insurance to keep us healthy, we buy “medical insurance” to treat us when something goes wrong.
and the way we live, something is bound to go wrong!
so here's the rub... with all this talk about reforming the "health care system"... no one is addressing the real issue, OUR HEALTH! they're just talking about how to pay for the EVER INCREASING MEDICAL COSTS of taking care of people who can't/don't/won't take care of themselves.
now, that's easy for me to say. i'm relatively healthy. i don't suffer from any chronic medical ills. i don't live a "dangerous" lifestyle. i don't do drugs, drink heavily, or hang out with those who do. i live in a “clean” area away from toxic dumps/landfills, factories and high-voltage power lines. living choices make a huge impact on a persons "health" and the likelihood of needed medical care.
the issues we need to solve aren't whether or not any person has "health insurance", or even “medical insurance”, the issues we need to solve are:
(1) the insane costs of "medical care"
(2) the insanely crap food in our stores and poor nutrition in our diets
(3) the insanely toxic levels of environmental pollution and contaminants
(4) the insane phobia(s) of "getting sick", and the over-dispensing of antibiotics
(5) the lack of real "diagnostics” by medical professionals who would rather throw pills at us which are marketed to them by companies engineering "fixes" to problems they caused in the first place
(6) the lack of knowledge, or desire for knowledge, of the general public as to personal responsibility for our own health
it is said insurance is shared risk. in reality, it's a profit driven business, based on legalized gambling, which aggregates a large pool of people and bets the money collected in premiums, once invested (wagered in the markets), will have a future value GREATER than any investment LOSSES and/or claim payouts.
and because it is a profit-driven corporation, it has no tolerance for financial losses... including payouts. in other words, it has no interest in PEOPLE'S best interest outside of the corporation's shareholders. so it relies on minimizing risk. for health insurance companies, this means convincing as many healthy people as possible to pay as much money in premiums as they are willing to tolerate in order to "fund" a portfolio of bets.
let's look at this from a healthy person's point of view...
every year i'll get a cold in the winter and maybe the flu for a week or so, but nurse myself with rest, OJ/vitamin c, soft kleenex, and maybe some aspirin if a headache gets really bad. i haven't been to the doctor in over 5 years, and then it was only for a shot of cortizone for a massive case of poison ivy (btw, i've mitigated my own risk of acquiring poison ivy since then by being more vigilant of where i enjoy my outdoor activities)!
consequently, my personal annual “health care” costs are pretty low, and basically limited to my nutrition and fitness decisions, personal hygiene, and watching where i romp through the woods.
but lets say i'm REQUIRED by law to buy health insurance.
now i have to shell out $xxx per month premium. what did that do? leaves less in my budget to afford natural, raw, organic, hormone/steroid/pesticide free food, other healthy living necessities and all of my other pursuits of life, liberty and happiness.
to minimize my monthly premium, i might choose a high deductible. what does this do? on top of paying a monthly premium and having less in my budget for healthy foods and living, it means IF if MUST go to the doctor for something, i end up paying for most, if not all of the bill.
lets use the poison ivy example...
say my premium is $80/month to get 80/20 coverage with a $2500 deductible, $30 co-pay (that was my actual cost last time i had health insurance). i pay 12 months of premiums ($960), then have an "urgent care" visit costing $630 ($200 for the doctor, $300 for the care center, $100 for the shot and $30 for the co-pay).
i pay the $30, and get a bill for my 20% portion of the deductible as my responsibility for the treatment ($120). this means on top of the $960 i paid all year for "coverage", i end up paying another $150 (120+30).
do the math... total out-of-pocket annual “health care” cost... $1110. hummmmm.... what the...?
DO YOU SEE THE PROBLEM? NO, I DON'T THINK YOU DO!!!
THE PROBLEM IS THE $100 SHOT OF CORTIZONE COSTS $500 TO ADMINISTER!!!!!! Further, i'd like to know if the cortizone itself really costs $100? and THE BIGGEST PROBLEM OF ALL... I WAS WILLING TO PAY $1100 FOR IT!!!!! WTF????
i would have been better off, financially, paying the $600 out of pocket (or even NEGOTIATING with the provider for a lower cost!), and spending the remainder of the $1110 buying locally grown food, and other healthy living choices.
now lets look at the flip side... the sick, chronically ill, injured, whatever.
for instance, lets say i get injured in a car wreck on the way to get my cortizone shot. ironic! end up in the hospital while going to the hospital.
ok, so my ER visit gets expensive... say $5000 for a minor injury/overnight and $25000+ for something reeeeealy bad. with my insurance, i'm on the hook for the co-pay and deductible. i've paid $960 into a system for the privilege of paying another $2600 (2500 deduct + 100 ER co-pay). my "insurance" covers the other 2500 to 22500, right?
no... they NEGOTIATE A SETTLEMENT with the care provider for much less.
you see, hospitals jack up the cost of treatment because they know insurance companies will never pay the full amount. so hospital fee schedules are set HIGH ABOVE THE ACTUAL COST OF TREATMENT so by the time the insurance company settles, the true cost of care is hopefully covered. they are playing games with our money... and our medical/health care!
now lets talk about the seriously ill. I have great sympathy for people with circumstances beyond their control, especially through no fault of their own. but there's a difference between the guy who wrecks his health with drugs and alcohol vs the guy who has a god-given birth defect, degenerative genetic condition, (although it could be argued alcoholism and drug dependency are degenerative genetic conditions affecting the brain) or gets clobbered in a head-on car accident. regardless, choices are made, and everything we do (or happens to us) is preventable and/or treatable with the right attitude and a reasonable approach.
ok, so don't bitch about something unless you are willing to propose a solution, right?
i propose instead of requiring "health insurance", we require “healthy living insurance” for everyone. "healthy living insurance" should simply be an integrated component of things we already do:
(1) if you drive, your healthy living insurance should be part of your auto insurance, fuel costs or road usage
(2) if you are a student, your healthy living insurance should be part of your tuition
(3) if you are a worker, your healthy living insurance should be part of your job
"healthy living insurance" would be a used to help offset the costs of healthy living, and provide medical coverage for you and your dependents. a person would use the benefits to get discounts on fresh organic foods, nutritional supplements, fitness club memberships, exercise/fitness equipment, etc. and if god forbid you "come down" with something major (cancer) or minor (a cold), get in a wreck, or some other emergency, then "medical coverage" kicks in.
further, if you do all three of the above (drive, learn or work), you should have the choice of which one you want your insurance through- you can pick the cheapest if you want. or maybe the one with the best benefits. whatever. but if you don't drive, learn or work, then you are a “dependent” and your insurance should be part of your caretaker's coverage.
ok, we've addressed the issues, we've proposed a solution, and we've attempted to do it with a healthy dose of common sense.
is this a perfect plan? no way, nothing's perfect. is this the best solution, or even a good one? maybe not. but does it address the core of our problems? yes. does it focus on prevention vs reaction? yes. and does it promote PEOPLE'S control over their own health? absolutely!
there are three institutions in our world where corporate profit mentality has no business being involved: education, government and medical care. these are the areas of our lives where "no compromise" should be the rule. no one should be excluded, no one should be exempt and no one should ever be denied full participation. and in our capitalist democracy, it should all be done with a non-profit approach. the focus should be on public service and these institutions should break-even only. money in should equal money out based on audited budgets, fair pricing and reasonable operating expenses- including salaries.
let me say one final thing in terms of our government requiring we buy health insurance; i refuse to pay into a mandatory system, even under threat of fines and penalties, which FORCES ME TO "SHARE THE RISK" OF THE GUY WHO WON'T EXERCISE AND SITS ON THE COUCH ALL DAY EATING CORN CHIPS, DONUTS, CHICKEN NUGGETS AND SODAS WHILE PLAYING X BOX AND WATCHING AMERICAN IDOL.
kiss my ass... i'm moving off-shore!
we need to take control of our lives and our world. we need to take it back from career politicians and run-away corporate greed. and above all, we need to regain a sense of sustainable, healthy living.
when we buy a house, lenders require we pay PMI if we don't have 20% equity. but again, it's our choice of whether or not to pay PMI simply by renting instead of buying, or waiting until we have 20% down payment before taking the plunge. it's all our choice.
basically, we pay “extra” for these privileges.
but can our elected leaders really require/force/mandate us to buy health insurance just for “existing” in this country? just to "live"? requiring health insurance? is it such a privilege to be born in the USA?
come on, really... what will requiring health insurance truly accomplish?
plain and simple, someone's going to get rich over this. guess who? that's right... the insurance companies! big business. the "financial" world. can you say AIG, banks, investment houses and stock exchanges.
the focus has been shifted away from promoting the healthy well-being of our nation, and put squarely on simply making money, (which, by the way, is a far cry from truly becoming wealthy or even amassing wealth).
now for a dose of common sense...
the concept of “health insurance” is bs. we don't buy “health” insurance to keep us healthy, we buy “medical insurance” to treat us when something goes wrong.
and the way we live, something is bound to go wrong!
so here's the rub... with all this talk about reforming the "health care system"... no one is addressing the real issue, OUR HEALTH! they're just talking about how to pay for the EVER INCREASING MEDICAL COSTS of taking care of people who can't/don't/won't take care of themselves.
now, that's easy for me to say. i'm relatively healthy. i don't suffer from any chronic medical ills. i don't live a "dangerous" lifestyle. i don't do drugs, drink heavily, or hang out with those who do. i live in a “clean” area away from toxic dumps/landfills, factories and high-voltage power lines. living choices make a huge impact on a persons "health" and the likelihood of needed medical care.
the issues we need to solve aren't whether or not any person has "health insurance", or even “medical insurance”, the issues we need to solve are:
(1) the insane costs of "medical care"
(2) the insanely crap food in our stores and poor nutrition in our diets
(3) the insanely toxic levels of environmental pollution and contaminants
(4) the insane phobia(s) of "getting sick", and the over-dispensing of antibiotics
(5) the lack of real "diagnostics” by medical professionals who would rather throw pills at us which are marketed to them by companies engineering "fixes" to problems they caused in the first place
(6) the lack of knowledge, or desire for knowledge, of the general public as to personal responsibility for our own health
it is said insurance is shared risk. in reality, it's a profit driven business, based on legalized gambling, which aggregates a large pool of people and bets the money collected in premiums, once invested (wagered in the markets), will have a future value GREATER than any investment LOSSES and/or claim payouts.
and because it is a profit-driven corporation, it has no tolerance for financial losses... including payouts. in other words, it has no interest in PEOPLE'S best interest outside of the corporation's shareholders. so it relies on minimizing risk. for health insurance companies, this means convincing as many healthy people as possible to pay as much money in premiums as they are willing to tolerate in order to "fund" a portfolio of bets.
let's look at this from a healthy person's point of view...
every year i'll get a cold in the winter and maybe the flu for a week or so, but nurse myself with rest, OJ/vitamin c, soft kleenex, and maybe some aspirin if a headache gets really bad. i haven't been to the doctor in over 5 years, and then it was only for a shot of cortizone for a massive case of poison ivy (btw, i've mitigated my own risk of acquiring poison ivy since then by being more vigilant of where i enjoy my outdoor activities)!
consequently, my personal annual “health care” costs are pretty low, and basically limited to my nutrition and fitness decisions, personal hygiene, and watching where i romp through the woods.
but lets say i'm REQUIRED by law to buy health insurance.
now i have to shell out $xxx per month premium. what did that do? leaves less in my budget to afford natural, raw, organic, hormone/steroid/pesticide free food, other healthy living necessities and all of my other pursuits of life, liberty and happiness.
to minimize my monthly premium, i might choose a high deductible. what does this do? on top of paying a monthly premium and having less in my budget for healthy foods and living, it means IF if MUST go to the doctor for something, i end up paying for most, if not all of the bill.
lets use the poison ivy example...
say my premium is $80/month to get 80/20 coverage with a $2500 deductible, $30 co-pay (that was my actual cost last time i had health insurance). i pay 12 months of premiums ($960), then have an "urgent care" visit costing $630 ($200 for the doctor, $300 for the care center, $100 for the shot and $30 for the co-pay).
i pay the $30, and get a bill for my 20% portion of the deductible as my responsibility for the treatment ($120). this means on top of the $960 i paid all year for "coverage", i end up paying another $150 (120+30).
do the math... total out-of-pocket annual “health care” cost... $1110. hummmmm.... what the...?
DO YOU SEE THE PROBLEM? NO, I DON'T THINK YOU DO!!!
THE PROBLEM IS THE $100 SHOT OF CORTIZONE COSTS $500 TO ADMINISTER!!!!!! Further, i'd like to know if the cortizone itself really costs $100? and THE BIGGEST PROBLEM OF ALL... I WAS WILLING TO PAY $1100 FOR IT!!!!! WTF????
i would have been better off, financially, paying the $600 out of pocket (or even NEGOTIATING with the provider for a lower cost!), and spending the remainder of the $1110 buying locally grown food, and other healthy living choices.
now lets look at the flip side... the sick, chronically ill, injured, whatever.
for instance, lets say i get injured in a car wreck on the way to get my cortizone shot. ironic! end up in the hospital while going to the hospital.
ok, so my ER visit gets expensive... say $5000 for a minor injury/overnight and $25000+ for something reeeeealy bad. with my insurance, i'm on the hook for the co-pay and deductible. i've paid $960 into a system for the privilege of paying another $2600 (2500 deduct + 100 ER co-pay). my "insurance" covers the other 2500 to 22500, right?
no... they NEGOTIATE A SETTLEMENT with the care provider for much less.
you see, hospitals jack up the cost of treatment because they know insurance companies will never pay the full amount. so hospital fee schedules are set HIGH ABOVE THE ACTUAL COST OF TREATMENT so by the time the insurance company settles, the true cost of care is hopefully covered. they are playing games with our money... and our medical/health care!
now lets talk about the seriously ill. I have great sympathy for people with circumstances beyond their control, especially through no fault of their own. but there's a difference between the guy who wrecks his health with drugs and alcohol vs the guy who has a god-given birth defect, degenerative genetic condition, (although it could be argued alcoholism and drug dependency are degenerative genetic conditions affecting the brain) or gets clobbered in a head-on car accident. regardless, choices are made, and everything we do (or happens to us) is preventable and/or treatable with the right attitude and a reasonable approach.
ok, so don't bitch about something unless you are willing to propose a solution, right?
i propose instead of requiring "health insurance", we require “healthy living insurance” for everyone. "healthy living insurance" should simply be an integrated component of things we already do:
(1) if you drive, your healthy living insurance should be part of your auto insurance, fuel costs or road usage
(2) if you are a student, your healthy living insurance should be part of your tuition
(3) if you are a worker, your healthy living insurance should be part of your job
"healthy living insurance" would be a used to help offset the costs of healthy living, and provide medical coverage for you and your dependents. a person would use the benefits to get discounts on fresh organic foods, nutritional supplements, fitness club memberships, exercise/fitness equipment, etc. and if god forbid you "come down" with something major (cancer) or minor (a cold), get in a wreck, or some other emergency, then "medical coverage" kicks in.
further, if you do all three of the above (drive, learn or work), you should have the choice of which one you want your insurance through- you can pick the cheapest if you want. or maybe the one with the best benefits. whatever. but if you don't drive, learn or work, then you are a “dependent” and your insurance should be part of your caretaker's coverage.
ok, we've addressed the issues, we've proposed a solution, and we've attempted to do it with a healthy dose of common sense.
is this a perfect plan? no way, nothing's perfect. is this the best solution, or even a good one? maybe not. but does it address the core of our problems? yes. does it focus on prevention vs reaction? yes. and does it promote PEOPLE'S control over their own health? absolutely!
there are three institutions in our world where corporate profit mentality has no business being involved: education, government and medical care. these are the areas of our lives where "no compromise" should be the rule. no one should be excluded, no one should be exempt and no one should ever be denied full participation. and in our capitalist democracy, it should all be done with a non-profit approach. the focus should be on public service and these institutions should break-even only. money in should equal money out based on audited budgets, fair pricing and reasonable operating expenses- including salaries.
let me say one final thing in terms of our government requiring we buy health insurance; i refuse to pay into a mandatory system, even under threat of fines and penalties, which FORCES ME TO "SHARE THE RISK" OF THE GUY WHO WON'T EXERCISE AND SITS ON THE COUCH ALL DAY EATING CORN CHIPS, DONUTS, CHICKEN NUGGETS AND SODAS WHILE PLAYING X BOX AND WATCHING AMERICAN IDOL.
kiss my ass... i'm moving off-shore!
we need to take control of our lives and our world. we need to take it back from career politicians and run-away corporate greed. and above all, we need to regain a sense of sustainable, healthy living.
Sunday, March 22, 2009
has all common sense left the building?
It’s no secret that I have been intensely angered by the financial meltdown. Not because of the loss of "money" as it were (as if any of it even exists!), but for the culmination of intense greed and self-serving behavior perpetrated by PEOPLE entrusted with the public welfare (and I don't mean welfare in terms of a government hand out, I mean welfare as in the general public good). It is my intention to share my views- right or wrong- in an effort to spur MEANINGFUL conversation and hopefully a deeper, real understanding of what's happening, why it's happening, and not for determining who's to blame, but rather, determining who should/will take responsibility in making sure our government is returned to the people, and out of the hands of well-paid corporate lobbyists acting only in the interest of their employer's balance sheet.
To understand money, banking, investment, capital markets, and the notion of "earning something for nothing" simply by trading debt, we really need to have a handle on how "money" is crated and why we think it has value. A very good resource for this is, "The Ascent of Money", a PBS expose detailing the history of the monetary system and why control of it is so important to those in power (http://www.pbs.org/wnet/ascentofmoney/).
And before I go any further, I suggest one simple bit of advice to anyone reading this ... don't take my word for anything. Do your own research. Take time to look into our government (and I don't mean the presidency, I'm talking about the legislative branches- our representatives, and the judicial branch- our trusted, "unbiased" elders.), monetary system, the FED, Treasury/IRS, tax code (20 volumes, 16,000+ pages!!!), and every other cog in the machine which is ultimately "in charge" of our lives. Just remember, the only power any of these things have over us is that which we allow:
" When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature's God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.
We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. --That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, --That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn, that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security."
Think about these words. They are more important than just about any other concept in our country’s history.
Next, we need to have a good handle on the FED, (http://en.wikipedia.org/wiki/Federal_Reserve) and what that organization is all about. The fed is a quasi-public/private FOR PROFIT corporation that has been allowed to not only control the supply of money, but remove any safe guards such as the gold standard (http://en.wikipedia.org/wiki/Gold_standard)
Take a good, hard look at a document put out by the FED called Modern Money Mechanics, A Workbook on Bank Reserves and Deposit Expansion: www.rayservers.com/images/ModernMoneyMechanics.pdf
http://en.wikisource.org/wiki/Modern_Money_Mechanics
This is a detailed explanation of how money is created.
And if you don't think gold is more valuable than cash (Federal Reserve Notes), look at the rise in popularity of "cash for gold" businesses. Over the last couple years (the apex of the financial/capital market implosion), and most recently exhibited by infomercials and traveling trade-shows, there has been a significant increase in businesses setting up shop to aggregate "unwanted" gold and other precious hard goods. Of course they are willing to give you cash for it! Cash, is literally worthless, but you can't very easily buy groceries or gas with gold. So these businesses are more than happy to take your tangible items of worth, transfer "money" to your bank account, let you withdraw "federal reserve notes" from your bank, and go buy your consumables (gasoline and such). In the end, you have no "money" AND no gold. There is a reason people are trying to get their hands on as much of this stuff as possible.
Onward, lets discuss our legislative representative’s roll in all of this. Much of what is happening now can be traced back to the end of 2000 including the Omnibus spending bill passed by the 106th congress (REPUBLICAN MAJORITY) and forced down the throat of then lame-duck Bill Clinton: http://en.wikipedia.org/wiki/Commodity_Futures_Modernization_Act_of_2000
The "Commodity Futures Modernization Act of 2000" (H.R. 5660) was introduced in the House on December 14, 2000 by Rep. Thomas W. Ewing (R-IL) and cosponsored by Rep. Thomas J. Bliley, Jr. (R-VA) Rep. Larry Combest (R-TX) Rep. John J. LaFalce (D-NY) Rep. Jim Leach (R-IA) and never debated in the House.
The companion bill (S.3283) was introduced in the Senate on December 15, 2000 (The last day before Christmas holiday) by Sen. Richard Lugar (R-IN) and cosponsored by Sen. Peter Fitzgerald (R-IL) Sen. Phil Gramm (R-TX) Sen. Chuck Hagel (R-NE) Sen. Thomas Harkin (D-IA) Sen. Tim Johnson (D-SD) and never debated in the Senate.
Another look at legislation from this REPUBLICAN MAJORITY congress is here: http://en.wikipedia.org/wiki/Gramm-Leach-Bliley_Financial_Services_Modernization_Act
Both of these repealed regulation originally designed to prevent financial monkey-business dating back to THE FIRST GREAT DEPRESSION! Regulation that was originally enacted to mitigate the risk of future depressions. The kind of oversight designed to prevent the exact type of CRAP we're dealing with now.
These bills are the genesis of the financial "engineering", wizardry and capital market manipulation that has allowed PEOPLE to take advantage of unregulated opportunities- specifically merging banking and insurance.
Be sure to take some time to look into Phil Gramm, the good-'ole-boy from Enron, um, I mean the great state of Bush, um, I mean Texas, (http://en.wikipedia.org/wiki/Phil_Gramm) and find out which lobbyists/corporations contributed most to his opinions. FYI, Gramm was one of five co-sponsors of the companion bill to the Commodity Futures Modernization Act of 2000[5]. One provision of the bill is often referred to as the "Enron loophole" because some critics blame the provision for permitting the Enron scandal to occur.
OK, after all this, don't forget to take a look at the SEC, and their complete inability to function in the capacity for which it was intended. Think Bernie Madoff and Allen Stanford... and Enron... and Worldcom... and...on and on.
Lastly, look at where the MONEY actually went: banks. Goldman Sachs, Deutsche, Chase, Citigroup, Bank of America, etc, etc, etc. The recent consolidation of banking through bailouts has done nothing but bolster the DEBT, put more money in fewer people’s hands, and created a globally dominant economic force that if left unchecked, will drive further the divide between the haves and have-nots.
Now, some have suggested that the way to "fix" everything is to throw more money at it. Bailouts, tax breaks, whatever.
COME ON! "Buying" the perpetuation of a broken system is not the way to fix things.
And then trying to "fix" misallocated bailout funds by creating a new tax? A 90% tax on bonuses?
I don’t believe AIG made the right call in offering such extravagant retention, holiday and other bonuses, nor for their actually using bailout money to pay them, but this new tax is just as criminal!!! And unconstitutional.
How is taking away money going to do anything but hurt the PEOPLE who NEED it to support our monetary based society?
The fix isn’t to bailout and tax, but to foster a fundamental shift in socio-economic thinking. That greed isn’t good, and corporate profit isn’t the end-all, be-all of our existence.
And those who argue we might be heading towards socialism, bigger government, and other "dangerous" roads that will lead to the destruction of our society...
I say to you that our government has never been as big as it is when lobbyists push corporate agendas, constitutional rights are "suspended" or even stripped away, and more power is put in fewer people's hands specifically with judicial activism, no-bid contracts, and unilateral "secret" decisions that are made “for our own good”.
When we as a nation can allocate trillions of dollars and resources toward efforts in global domination of fossil fuel energy resources and suppression of autonomous societal development, but cannot find it within ourselves to protect, WITHOUT TRYING TO FIND A WAY TO MAKE A BUCK, endangered ecosystems, see that everyone on the planet has adequate food and clean water, and understand that over-consumption, pollution, burning heavy metals and EXCESSIVE carbon emissions are BAD, then there is something fundamentally wrong with our development and value system.
Just as important in all this is the fact that we as a society don't promote healthy living choices in terms of nutrition and exercise... unless we can make a buck at it.
Everyone worries about leaving too much debt to future generations. Well here's an eye opener... ALL MONEY IS DEBT! OUR GOVERNMENT BORROWS MONEY IT CAN NEVER REPAY... EVER.
THE SIMPLE FACT THAT INTEREST IS BEING CHARGED ON DEBT SOLIDIFIES THE FACT THAT THERE WILL NEVER BE ENOUGH "MONEY" TO EVER PAY BACK WHAT IS BORROWED.
HOW CAN YOU EVER PAY BACK MORE THAN WAS ORIGINALLY ISSUED?
Oh, I forgot... go back and read Modern Money Mechanics. Money (debt) that is issued miraculously becomes "more" money (and consequently more debt!), when it is lent with zero gold standard and a 10% reserve requirement.
BTW, our income taxes currently do not even provide enough revenue to our treasury to cover the INTEREST on the national debt! Do the math. Think about that for a minute.
If you want some real reading, real information... real forward thinking, study up on the concept of “resource based economy”- an information, technology and knowledge based intelligent society where the pursuit of financial gain is no longer the primary driver, but rather the development of a global economy without debt. You can’t have a debtless society when people rely on “money” and “interest” Go ahead, google it and see what you come up with.
I'm not saying there is no wealth building with this system... I'm saying that everything is wealth building. And it’s done without the need to put anyone else down to get there.
Utopia? No... just people acting in the best interest of everyone else. Each of us needs all of us, and all of us need each of us. What a concept.
You argue that a corporation is a living, breathing, independent, legal entity. We always hear of, “Washington” did this, and “AIG” did that, “the church” says this.
Here’s another eye-opener… these institutions/corporations are made up of groups of PEOPLE. People do and say things. People guide organizations and institutions. People are responsible.
I submit that corporations are nothing but RULES MADE UP BY PEOPLE. And if we made the rules, we can change them.
Best business practices, standard accounting principles, tax code… it all needs an enema!
We need to open our eyes, get weaned off our cool-aid drinking, war-mongering, terror and fear-instilling, NASCAR watching, lottery playing, “American Dream” believing, subsidy driven, celebrity obsessed, American Idol-Dancing With The Stars-Biggest Loser- MTV watching, got-to-have-it-now, consumption based, unaccountable, irresponsible, dumbed-down barely smarter than a second grader, blinders-on society and GET WITH THE PROGRAM.
This country was built on principles of no taxation without representation, religious freedom, uncorrupted leadership, all created equal, and the rights of life, liberty and pursuit of happiness.
It’s time to get pissed-off! We don’t have to take it. The “government”, the “corporation”, the “institution”… it’s all MAN MADE (and you too, gals!). Nothing happens without people doing something. We’d don’t have to take it, you know. It’s time to get pissed.
Peace.
To understand money, banking, investment, capital markets, and the notion of "earning something for nothing" simply by trading debt, we really need to have a handle on how "money" is crated and why we think it has value. A very good resource for this is, "The Ascent of Money", a PBS expose detailing the history of the monetary system and why control of it is so important to those in power (http://www.pbs.org/wnet/ascentofmoney/).
And before I go any further, I suggest one simple bit of advice to anyone reading this ... don't take my word for anything. Do your own research. Take time to look into our government (and I don't mean the presidency, I'm talking about the legislative branches- our representatives, and the judicial branch- our trusted, "unbiased" elders.), monetary system, the FED, Treasury/IRS, tax code (20 volumes, 16,000+ pages!!!), and every other cog in the machine which is ultimately "in charge" of our lives. Just remember, the only power any of these things have over us is that which we allow:
" When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature's God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.
We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. --That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, --That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn, that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security."
Think about these words. They are more important than just about any other concept in our country’s history.
Next, we need to have a good handle on the FED, (http://en.wikipedia.org/wiki/Federal_Reserve) and what that organization is all about. The fed is a quasi-public/private FOR PROFIT corporation that has been allowed to not only control the supply of money, but remove any safe guards such as the gold standard (http://en.wikipedia.org/wiki/Gold_standard)
Take a good, hard look at a document put out by the FED called Modern Money Mechanics, A Workbook on Bank Reserves and Deposit Expansion: www.rayservers.com/images/ModernMoneyMechanics.pdf
http://en.wikisource.org/wiki/Modern_Money_Mechanics
This is a detailed explanation of how money is created.
And if you don't think gold is more valuable than cash (Federal Reserve Notes), look at the rise in popularity of "cash for gold" businesses. Over the last couple years (the apex of the financial/capital market implosion), and most recently exhibited by infomercials and traveling trade-shows, there has been a significant increase in businesses setting up shop to aggregate "unwanted" gold and other precious hard goods. Of course they are willing to give you cash for it! Cash, is literally worthless, but you can't very easily buy groceries or gas with gold. So these businesses are more than happy to take your tangible items of worth, transfer "money" to your bank account, let you withdraw "federal reserve notes" from your bank, and go buy your consumables (gasoline and such). In the end, you have no "money" AND no gold. There is a reason people are trying to get their hands on as much of this stuff as possible.
Onward, lets discuss our legislative representative’s roll in all of this. Much of what is happening now can be traced back to the end of 2000 including the Omnibus spending bill passed by the 106th congress (REPUBLICAN MAJORITY) and forced down the throat of then lame-duck Bill Clinton: http://en.wikipedia.org/wiki/Commodity_Futures_Modernization_Act_of_2000
The "Commodity Futures Modernization Act of 2000" (H.R. 5660) was introduced in the House on December 14, 2000 by Rep. Thomas W. Ewing (R-IL) and cosponsored by Rep. Thomas J. Bliley, Jr. (R-VA) Rep. Larry Combest (R-TX) Rep. John J. LaFalce (D-NY) Rep. Jim Leach (R-IA) and never debated in the House.
The companion bill (S.3283) was introduced in the Senate on December 15, 2000 (The last day before Christmas holiday) by Sen. Richard Lugar (R-IN) and cosponsored by Sen. Peter Fitzgerald (R-IL) Sen. Phil Gramm (R-TX) Sen. Chuck Hagel (R-NE) Sen. Thomas Harkin (D-IA) Sen. Tim Johnson (D-SD) and never debated in the Senate.
Another look at legislation from this REPUBLICAN MAJORITY congress is here: http://en.wikipedia.org/wiki/Gramm-Leach-Bliley_Financial_Services_Modernization_Act
Both of these repealed regulation originally designed to prevent financial monkey-business dating back to THE FIRST GREAT DEPRESSION! Regulation that was originally enacted to mitigate the risk of future depressions. The kind of oversight designed to prevent the exact type of CRAP we're dealing with now.
These bills are the genesis of the financial "engineering", wizardry and capital market manipulation that has allowed PEOPLE to take advantage of unregulated opportunities- specifically merging banking and insurance.
Be sure to take some time to look into Phil Gramm, the good-'ole-boy from Enron, um, I mean the great state of Bush, um, I mean Texas, (http://en.wikipedia.org/wiki/Phil_Gramm) and find out which lobbyists/corporations contributed most to his opinions. FYI, Gramm was one of five co-sponsors of the companion bill to the Commodity Futures Modernization Act of 2000[5]. One provision of the bill is often referred to as the "Enron loophole" because some critics blame the provision for permitting the Enron scandal to occur.
OK, after all this, don't forget to take a look at the SEC, and their complete inability to function in the capacity for which it was intended. Think Bernie Madoff and Allen Stanford... and Enron... and Worldcom... and...on and on.
Lastly, look at where the MONEY actually went: banks. Goldman Sachs, Deutsche, Chase, Citigroup, Bank of America, etc, etc, etc. The recent consolidation of banking through bailouts has done nothing but bolster the DEBT, put more money in fewer people’s hands, and created a globally dominant economic force that if left unchecked, will drive further the divide between the haves and have-nots.
Now, some have suggested that the way to "fix" everything is to throw more money at it. Bailouts, tax breaks, whatever.
COME ON! "Buying" the perpetuation of a broken system is not the way to fix things.
And then trying to "fix" misallocated bailout funds by creating a new tax? A 90% tax on bonuses?
I don’t believe AIG made the right call in offering such extravagant retention, holiday and other bonuses, nor for their actually using bailout money to pay them, but this new tax is just as criminal!!! And unconstitutional.
How is taking away money going to do anything but hurt the PEOPLE who NEED it to support our monetary based society?
The fix isn’t to bailout and tax, but to foster a fundamental shift in socio-economic thinking. That greed isn’t good, and corporate profit isn’t the end-all, be-all of our existence.
And those who argue we might be heading towards socialism, bigger government, and other "dangerous" roads that will lead to the destruction of our society...
I say to you that our government has never been as big as it is when lobbyists push corporate agendas, constitutional rights are "suspended" or even stripped away, and more power is put in fewer people's hands specifically with judicial activism, no-bid contracts, and unilateral "secret" decisions that are made “for our own good”.
When we as a nation can allocate trillions of dollars and resources toward efforts in global domination of fossil fuel energy resources and suppression of autonomous societal development, but cannot find it within ourselves to protect, WITHOUT TRYING TO FIND A WAY TO MAKE A BUCK, endangered ecosystems, see that everyone on the planet has adequate food and clean water, and understand that over-consumption, pollution, burning heavy metals and EXCESSIVE carbon emissions are BAD, then there is something fundamentally wrong with our development and value system.
Just as important in all this is the fact that we as a society don't promote healthy living choices in terms of nutrition and exercise... unless we can make a buck at it.
Everyone worries about leaving too much debt to future generations. Well here's an eye opener... ALL MONEY IS DEBT! OUR GOVERNMENT BORROWS MONEY IT CAN NEVER REPAY... EVER.
THE SIMPLE FACT THAT INTEREST IS BEING CHARGED ON DEBT SOLIDIFIES THE FACT THAT THERE WILL NEVER BE ENOUGH "MONEY" TO EVER PAY BACK WHAT IS BORROWED.
HOW CAN YOU EVER PAY BACK MORE THAN WAS ORIGINALLY ISSUED?
Oh, I forgot... go back and read Modern Money Mechanics. Money (debt) that is issued miraculously becomes "more" money (and consequently more debt!), when it is lent with zero gold standard and a 10% reserve requirement.
BTW, our income taxes currently do not even provide enough revenue to our treasury to cover the INTEREST on the national debt! Do the math. Think about that for a minute.
If you want some real reading, real information... real forward thinking, study up on the concept of “resource based economy”- an information, technology and knowledge based intelligent society where the pursuit of financial gain is no longer the primary driver, but rather the development of a global economy without debt. You can’t have a debtless society when people rely on “money” and “interest” Go ahead, google it and see what you come up with.
I'm not saying there is no wealth building with this system... I'm saying that everything is wealth building. And it’s done without the need to put anyone else down to get there.
Utopia? No... just people acting in the best interest of everyone else. Each of us needs all of us, and all of us need each of us. What a concept.
You argue that a corporation is a living, breathing, independent, legal entity. We always hear of, “Washington” did this, and “AIG” did that, “the church” says this.
Here’s another eye-opener… these institutions/corporations are made up of groups of PEOPLE. People do and say things. People guide organizations and institutions. People are responsible.
I submit that corporations are nothing but RULES MADE UP BY PEOPLE. And if we made the rules, we can change them.
Best business practices, standard accounting principles, tax code… it all needs an enema!
We need to open our eyes, get weaned off our cool-aid drinking, war-mongering, terror and fear-instilling, NASCAR watching, lottery playing, “American Dream” believing, subsidy driven, celebrity obsessed, American Idol-Dancing With The Stars-Biggest Loser- MTV watching, got-to-have-it-now, consumption based, unaccountable, irresponsible, dumbed-down barely smarter than a second grader, blinders-on society and GET WITH THE PROGRAM.
This country was built on principles of no taxation without representation, religious freedom, uncorrupted leadership, all created equal, and the rights of life, liberty and pursuit of happiness.
It’s time to get pissed-off! We don’t have to take it. The “government”, the “corporation”, the “institution”… it’s all MAN MADE (and you too, gals!). Nothing happens without people doing something. We’d don’t have to take it, you know. It’s time to get pissed.
Peace.
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