Wednesday, February 16, 2011
America:The United States of Plutocracy.
In American history an indentured servant was typically a young, unskilled laborer who came to America under contract to work for an employer for a fixed period of time, typically three to seven years, in exchange for their ocean transportation, food, clothing, lodging and other necessities during the term of their indenture. They included men and women; most were under age 21, and most became helpers on farms or house servants. They were not paid wages.
There is a new insidious form of this old custom running rampant in America. More and more Americans are so far in debt to banks—that are charging exorbitant interest rates—that they will never get out of debt. America is no longer the home of the free‚—we are shackled by the chains of debt imposed on us by the banks with the total cooperation and full participation of our so called "representatives."
In a 2005 memo to investors of the "plutocratic class" Citibank executives suggested that America already is a —government run by the wealthy for the wealthy—plutocracy and that their new investment strategies should use that information to their advantage to maximize their future profits.
They went on to say that:
"The heart of plutonomy, is income inequality. And Societies that are willing to tolerate/endorse income inequality, are willing to tolerate/endorse plutonomy. These ends were accomplished by capitalist friendly government's and tax regimes, deregulation, free trade, and globalization that re-arrange's global supply chains with mobile well-capitalized elites and immigrants, greater financial complexity and innovation." Remember credit swap defaults were so complex that even Harvard educated traders were at a loss to explain them. They went on to say: "Perhaps one reason that societies allow plutonomy, is because enough of the electorate believe they have a chance of becoming a Plutoparticipant. Why kill it off, if you can join it?" "In a sense this is the embodiment of the "American dream"
Their main fear was that it could all end if the people ever woke up and voted out the people who are the guardians of the plutocracy. "The first, and probably most potent, is through a labor backlash. Outsourcing, off-shoring or in-sourcing of cheap labor is done to undercut current labor costs. Those being undercut are losers in the short term. While there is evidence that this is positive for some workers it is also clear that high-cost substitutable labor loses."
"Low-end developed market labor might not have much economic power, but it does have equal voting power with the rich. We see plenty of examples of the outsourcing or off-shoring of labor being attacked as “unpatriotic” or plain unfair. This tends to lead to calls for protectionism to save the low-skilled domestic jobs being lost. This is a cause championed, generally, by left-wing politicians."
Commentary: Its time to bring their fears about a "peasant" backlash to fulfillment. I urge you to boycott their banks, quit buying at Wal-Mart, form credit unions that give interest free loans, and vote out every Republican or Democrat that supports the financial exploitation of America. Call for the nationalization of the Banks starting with the Fed. Abrogate all free trade treaties that exploit this nations labor force. Tax corporations and the mega-wealthy. Remove all tax breaks for all so called "American" global corporations that ship jobs overseas.
Its time to take back our country.