Wall Street and the Mob

Wall Street and the Mob PDF Version                                                    August 27, 2013

For years Wall Street and international banks have been steeling form the public. That public has not minded because they can’t actually see the money coming out of their pockets, so they don’t know who to blame. This may all be for the best because they would have killed to get your money if they had to. There is no high ground in the banking industry. Banking these days is mostly organized crime. This makes sense because crime is risk sensitive just like everyone else. What would suit organized more than having  government as a partner? For decades the banking and brokerage industries have operated above the law. Typically when laws are broken fines are assessed. Fines amount to a business expense and the crimes continue. Did I say crimes? Yes but the bankers are safe. Government goes out of its way to treat any banking activity as legal.
Ordinary people would get prison time for the things Wall Street does with impunity.
All of the power and money in the world cannot keep them from destroying the economy. For years, Wall Street has operated like a corrupt dealer at a casino. They have run off all of the honest money and now must square off and trade against each other. The world’s capital markets are destroyed and stocks are ready to fall despite the efforts of the Federal Reserve and the rest of Wall Street’s allies in government.
The public will lose pensions, savings and most of what they own. The parties responsible for rigging and corrupting the financial markets for years will keep their profits.
It could be worse. The profit the mob has been able to make amounts to far more than what they normally kill for.

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When Times Got Really Weird Video. Banned on YouTube.

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About Fantasy Free Economics

James Quillian independent scholar,free market economist,and teacher of natural law. Who is James Quillian? Certainly I am nobody special, Just a tireless academic and deep thinker. Besides that, I have broken the code with respect to economics and political science. Credentials? Nothing you would be impressed with. I am not a household name. It is hard to become famous writing that virtually no one in the country is genuinely not in touch with reality. But, if I did not do that, there would be no point in my broking the broken the code. If you read the blog, it is easy to see that there are just a few charts, no math and no quantitative analysis. That is not by accident. Given what I know, those items are completely useless. I do turn out to be highly adept at applying natural law. Natural law has predominance over any principles the social science comes up. By virtue of understanding natural law, I can debunk, in just a few sentences , any theory that calls for intervention by a government. My taking the time to understand the ins and outs of Keynes General Theory is about like expecting a chemistry student to completely grasp all that the alchemists of the middle ages thought they understood in efforts to turn base metals into goal. Keynesian theory clearly calls for complete objectivity. Government can only make political decisions. Keynesian techniques call for economic decisions. So, why go any further with that? Fantasy Free Economics is in a sense a lot like technical analysis. Technical analysis began with the premise that it was impossible to gain enough information studying fundamentals to gain a trading advantage. Study the behavior of investors instead. Unlike technical analysis, I don't use technical charts. What I understand are the incentives of different people and entities active in the economics arena. For example, there is no such thing as an incentive to serve with life in the aggregate. In the aggregate, only self interest applies. It is routinely assumed otherwise. That is highly unappealing. But, I am sorry. That is the way it is. I can accept that because I am genuinely in touch with reality. Step one in using Fantasy Free Economics is for me to understand just how little I really know. A highly credentialed economist may know 100 times what I do based on the standard dogma. Compare the knowledge each of us has compared to all there is to know and we both look like we know nothing at all. There is always more than we don't know than what we do know. I am humble enough to present myself on that basis. Why? That is the way it is. I am not bad at math. I have taught math. What I understand is when to use it and when to rely on something else. Math is useless in natural law so I don't use it. While others look at numbers, I am busy understanding the forces in nature that makes their numbers what they are. That gives me a clear advantage.
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