Fri, Nov 20th, 2009 07:33 by Tim King ARTICLE

white collar criminals who have created a fiction called 'economics'. This fiction pretends to be a mathematically based, rational science, but it is in fact a falsehood based on the self-interest of a small, moneyed class. So credible has economics become that it is taught in schools as though it is an honest course of study. Economics, like many faith based beliefs, actually depends on wilful ignorance in order to exist. Bankers are the front line of this faith. They claim natural disaster when human failings are inevitably the cause. They create double-speak and misdirection in order to maintain control of a system of value that has nothing to do with the real world.

Bankers as Thieves:
I can't believe this is taught as field of study in school. In the past month the sub-prime mortgage mess has basically tumbled stock markets and caused world-wide grief.

In a nutshell, a bunch of greedy bankers in the US decided to offer sub-prime mortgages to people who couldn't afford them in order to extort interest out of uneducated, ignorant people for a short term gain. When the loans inevitably went bad these same bankers bundled up the bad mortgages and sold them off to banks around the world. These packages of mortgages dissolved into other greedy banks around the world who thought that they got a great deal on them. Of course, when something is offered for far less than it should be, you don't ask any questions and just pocket the added value you just acquired, that's just good economics. How much are we talking about here? ...billions and billions of dollars in failed mortgages.

Why would the greedy American bankers and then the greedy rest-of-the-world bankers do this? Because they know that they will never have to pay for it or in any way shoulder responsibility for these actions. They are safe behind the title of Banker: the controllers of our delicate, and ever so honestly maintained economic framework. Bankers, who produce nothing of value and live off the economic system like leeches, can lie, cheat and steal their way to personal wealth while a man who tries to steal a millionth as much at a variety store faces 20 years of hard labour. And while you, an honest person who has to work to justify the roof over your head (which a bank is making hundreds of thousands of dollars in interest on) struggles to pay taxes, unemployment, and pensions. It's a good thing they collect all of those taxes, because now they are being used to pay off banks for screwing everyone in the first place.

When it appeared that the banks might actually lose money on their theft, they immediately went running to our governments (funded by all of us) and begged to be bailed out of their own greed. As stock markets spiralled and companies wrung their hands, our representatives took billions of our dollars and shovelled them into the banks in order to minimize lost value from the mortgage mess. Billions and billions of dollars of tax payer's money is now being funnelled into the 'ailing economy' to give banks a way out of their bad mortgage loans. Stock markets crash, companies panic and millions of employees are put at risk just so bankers can milk the system even more than they normally do. Billions of dollars were made from these mortgages in collected interest before they went bad, but that money is ignored. The bankers who sold the mortgages collected their bonuses for making a sale, but that money is ignored too. All that is left are the poor, innocent banks who purchased these mortgages for a great price thinking that they were making money for nothing.

These banks aren't victims, but they will be quick to play the victim. They are either as rotten as the thieves who did the deed in the first place, or brutally incompetent. Either way, don't they sound like a great place to store what little wealth you've managed to accumulate?

The spin on this is that it is some kind of natural disaster. There is nothing natural about this. Our national governments (many around the world) are pouring billions into a manufactured crisis, and the people who manufactured it couldn't care less. They live outside the fiction that they dress us in and we continue to feed them. Why should they care when the beasts of burden are willing to do the work and fill in the missing wealth from yet another heist?



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