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Truthdig Radio: Hedges, Scheer, Shockley and Prins

Posted on Dec 8, 2010
Photo illustration from an image by Colin Grey (CC-BY)

Truthdig editors discuss WikiLeaks with Chris Hedges, the pope with the Rev. Madison Shockley and Fed revelations with Nomi Prins in this radio special for Pacifica’s KPFK.

Editor’s note: This radio special originally aired on Monday.


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ETNIKS's avatar

By ETNIKS, May 28, 2011 at 4:20 pm Link to this comment

Eaglemount
you said “Real Change* will not happen without effective grassroots effort.”
I agree totally, and thanks for the link.  We should sign up and support this effort to try to get the corrupting Corporate money out.

However, in case we’re too late for that, we should try what the Spaniards, the Egyptians etc. are trying now, which is to bypass altogether the current political system and take on the task to design a new society.  I believe perhaps we have gone too far for the current political, economic and social systems around the world to be able to change in their frantic race to the abyss.  They are beyond corrupt.

ALL OF THEM are doing exactly the worse thing they should do to repair the mess we’re in.  AUSTERITY.

Iceland is the only country so far which has done what is correct.  THEY REPUDIATED THE BANK’S DEBTS and refused to pay for the bank’s mistakes.  In fact, the last thing I knew is they were indicting their very ex-prime minister and the bankers who created the mess (the bankers are at large) and for the second time referendum, the people have rejected the so-called “bailout”, and take responsibility for the crook’s debts.

I believe the best chance to achieve changes will be for the masses to disregard their governments and peacefully re-direct their actions according to a new plan that cuts off the real culprits from the equation:  THE BANKS

Check this:
ONE GOOD CUT campaign
http://www.onegoodcut.org/

POSITIVE MONEY
http://www.positivemoney.org.uk/

Obama should never had bailed out the banks.  He should have taken them over, fired all executives (no more 24 billion bonuses a year on the backs of taxpayers) clean them up by separating the good assets from the non-performing assets.  Sell the bad assets at whatever the market pays for them and once all banks are cleaned up, re sell them to the private sector, but not before the laws are changed to make sure derivatives are ended, and banks are properly regulated.

If this had been done we would be already growing without so much debt.

Iceland is already coming out of the deep recession because they have done it right while the US has gone deeper and deeper into the hole.  All this crap about coming out of the recession here is a mirage with big banks hiding the bad assets, leaving them in their books as 100% performing when they aren’t.  While the taxpayer is being put deeper and deeper in debt.

Obama and the US current situation are smoke and mirrors, lies being disseminated by the fraudulent corporate Media.  Things are a lot worse than they are telling us.

Check Max Keiser to see some independent Wall Street news.  http://rt.com/programs/keiser-report/

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By Eaglemount, May 27, 2011 at 8:15 pm Link to this comment
(Unregistered commenter)

It’s all well and good to comment about an issue that needs the attention of citizens.  It’s even more important to ACTUALLY DO something significant that will allow necessary changes to be made to improve our country. 

*Real Change* will not happen without effective grassroots effort.

Here is a link that will interest many of you.
http://signon.org/sign/public-funding-of-elected

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ETNIKS's avatar

By ETNIKS, December 24, 2010 at 10:24 pm Link to this comment

Please check Ms Ellen Brown’s solution to the current crisis, which involves doing away with MONEY AS DEBT and skipping the FED’s enslaving currency you support.
++++++
http://www.truth-out.org/austerity-fails-euroland-time-some-deficit-easing66232

Restoring credit with a publicly owned bank:
The model of the BANK OF NORTH DAKOTA

There is another possible solution to this dilemma. Neither states in the US nor those in the eurozone can print their own money, but they CAN own banks, which can create bank credit on their books, just as all banks do. Over 95 percent of the money supply is now created by banks in the form of loans. The banks are not lending their own money or their depositors’ money. They are just advancing credit and collecting interest on this advance. Governments could advance their own credit and keep the interest. This would represent a huge savings to the people. Interest has been shown to make up about half the cost of everything we buy.

Only one US state actually owns its own bank - North Dakota. As of last spring, North Dakota was also the only US state sporting a budget surplus. It has the lowest unemployment rate in the country and the lowest default rate on loans. North Dakota has effectively escaped the credit crisis.

The Bank of North Dakota (BND) is a major profit generator for the state, returning a 26 percent dividend in 2008. The BND was set up as “North Dakota doing business as the Bank of North Dakota,” making the assets of the state the assets of the bank. The BND also has a captive deposit base. By law, all of North Dakota’s revenues are deposited in the BND. Municipal government and private deposits are also taken. Today, the BND has $4,000 in deposits per capita, and outstanding loans of roughly the same amount.

Extrapolating those figures to Ireland’s population of 4.2 million, a publicly owned Irish banking system might generate credit of $16.8 billion. That would be enough to fund most of Ireland’s deficit of 14.4 billion euros (19.6 billion USD), and this money would effectively be interest-free, since the government-owned bank would return its profits to the state. Funding through its own bank would remove most of Ireland’s debt from the private bond market, which is highly vulnerable to manipulation, speculation and crippling downgrades.

Alternatively, this bank credit could be used for building sustainable infrastructure and putting people back to work.

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ETNIKS's avatar

By ETNIKS, December 24, 2010 at 10:22 pm Link to this comment

Governments everywhere are artificially constrained by having to borrow at market interest rates, which means whatever interest banks can extract. Governments can throw off the shackles of this scheme, in which private banks create the national money supply and lend it at interest, by forming publicly owned banks. These banks can then advance the credit of the nation to the nation, interest-free. And if this credit is advanced against future productivity, prices will not inflate. Supply (goods and services) will rise along with demand (money), keeping prices stable.
Edit your post:
Insert a product link To insert a product link use the format: [[ASIN:ASIN product-title]] (What’s this?)
Insistent BADGER Please check Ms Ellen Brown’s solution to the current crisis, which involves doing away with MONEY AS DEBT and skipping the FED’s enslaving currency. +++ http://www.truth-out.org/austerity-fails-euroland-time-some-deficit-easing66232 Restoring credit with a publicly owned bank: The model of the BANK OF NORTH DAKOTA There is another possible solution to this dilemma. Neither states in the US nor those in the eurozone can print their own money, but they CAN own banks, which can create bank credit on their books, just as all banks do. Over 95 percent of the money supply is now created by banks in the form of loans. The banks are not lending their own money or their depositors’ money. They are just advancing credit and collecting interest on this advance. Governments could advance their own credit and keep the interest. This would represent a huge savings to the people. Interest has been shown to make up about half the cost of everything we buy. Only one US state actually owns its own bank - North Dakota. As of last spring, North Dakota was also the only US state sporting a budget surplus. It has the lowest unemployment rate in the country and the lowest default rate on loans. North Dakota has effectively escaped the credit crisis. The Bank of North Dakota (BND) is a major profit generator for the state, returning a 26 percent dividend in 2008. The BND was set up as “North Dakota doing business as the Bank of North Dakota,” making the assets of the state the assets of the bank. The BND also has a captive deposit base. By law, all of North Dakota’s revenues are deposited in the BND. Municipal government and private deposits are also taken. Today, the BND has $4,000 in deposits per capita, and outstanding loans of roughly the same amount. Extrapolating those figures to Ireland’s population of 4.2 million, a publicly owned Irish banking system might generate credit of $16.8 billion. That would be enough to fund most of Ireland’s deficit of 14.4 billion euros (19.6 billion USD), and this money would effectively be interest-free, since the government-owned bank would return its profits to the state. Funding through its own bank would remove most of Ireland’s debt from the private bond market, which is highly vulnerable to manipulation, speculation and crippling downgrades. Alternatively, this bank credit could be used for building sustainable infrastructure and putting people back to work. Governments everywhere are artificially constrained by having to borrow at market interest rates, which means whatever interest banks can extract. Governments can throw off the shackles of this scheme, in which private banks create the national money supply and lend it at interest, by forming publicly owned banks. These banks can then advance the credit of the nation to the nation, interest-free. And if this credit is advanced against future productivity, prices will not inflate. Supply (goods and services) will rise along with demand (money), keeping prices stable.

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tihsstaezevahc's avatar

By tihsstaezevahc, December 18, 2010 at 6:56 pm Link to this comment

What Marx had to say about lowlifes the likes of Ernestico “Chit” Guevara, the a-hole on your avatar:

“The “dangerous class”, [lumpenproletariat] the social scum, that passively rotting mass thrown off by the lowest layers of the old society, may, here and there, be swept into the movement by a proletarian revolution; its conditions of life, however, prepare it far more for the part of a bribed tool of reactionary intrigue.” The Communist Mnanifesto, Karl Marx.

Guevara’s biography in one paragraph.

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ChaviztaKing's avatar

By ChaviztaKing, December 13, 2010 at 3:53 am Link to this comment

DOWN WITH THE CAPITALIST SYSTEM, LET’S FIGHT FOR A WORLD SOCIALIST SYSTEM
By Monica Moorehead

http://www.workers.org/2010/us/wwp_conference_1125/

New York
Published Nov 17, 2010 5:19 PM

Some 300 Party members, friends and allies representing many important struggles at home and abroad attended the annual Workers World Party national conference Nov. 13-14. They came from cities where Party branches are located and other parts of the country. Some revolutionaries traveled to the conference from as far away as Canada and India. The very multinational crowd included many young people.

 
The conference boldly called to the broader movement with the theme of “Abolish Capitalism, Fight for a Socialist Future.” Conference plenary sessions, breakout groups and open mike sessions focused on the growing epidemic of unemployment, cutbacks, war and racism in the current phase of this unprecedented global capitalist economic crisis, which is approaching its third year.

Many of the talks exposed that this current crisis has proven that capitalism, an economic system based on making profits, is incapable of meeting the needs of the people and that socialism is the only solution to meeting human needs and saving the planet.

Participants joined three workshops: student and youth organizing; community and labor outreach; and Workers World newspaper.

The opening plenary session examined the recent bourgeois midterm elections, the capitalist crisis, a defense of Marxism and a call for socialist unity among the left. The panel included three members of the WWP secretariat: Teresa Gutierrez, Larry Holmes and Fred Goldstein. Gutierrez is a co-coordinator of the May 1 Coalition for Worker and Immigrant Rights. Holmes is a leader of the Bail Out the People Movement. Goldstein is the author of the book, “Low Wage Capitalism.”

Excerpts from the first plenary session talks appear in this, the Nov. 25 issue of Workers World; other contributions will appear in future issues of WW.

Also speaking in this panel were two leaders of Fight Imperialism, Stand Together (FIST): Larry Hales and Elena Everett. Hales is a leading member of WWP and a contributing editor of WW newspaper. Everett is a founding member of the newest branch of WWP in Durham, N.C.

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ChaviztaKing's avatar

By ChaviztaKing, December 13, 2010 at 3:50 am Link to this comment

HELLO MY FRIENDS: Watch this video by Mike Martinez leader of the Workers World Party talking about the capitalist hell of poverty and misery in USA

http://workers.blip.tv/file/4469040/

,

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By Kath Cantarella, December 12, 2010 at 2:37 am Link to this comment
(Unregistered commenter)

‘The publication of just these sorts of materials - governmental misjudgements and misconducts of high import - is exactly why the First Amendment exists.’
- Bickel/Abrams 1971.

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By Francis, December 11, 2010 at 11:35 am Link to this comment
(Unregistered commenter)

File will not download on my machine (mac) via itunes (gets partway then an error message). Please investigate. Thanks

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ETNIKS's avatar

By ETNIKS, December 10, 2010 at 1:35 pm Link to this comment

I thank the efforts of all the interviewers and interviewees and I want to ad my bit to the discussion.

If we stand back and watch what the CRISIS is all about really, it’s about the lack of liquidity in the market for people to continue trading in an organized fluid manner.

PERIOD!!

The whole “narrative” we’ve been sold is a red herring in order to divert our attention from the obvious.

There are rules to the game, and WE DIDN’T make them, and we don’t benefit from them.  They benefit those who designed the GAME called Fractional Reserve Banking System and who, by the way, are the very same actors who control OUR MONEY SUPPLY.

Yes, it is the FED and the PRIVATE Banks who in purpose or as an accident created this mess for themselves and for all of us in the REAL ECONOMY.

THE SOLUTION

Assumptions are what makes people to comply to any system or game.  If it appears “reasonable” they comply willingly.  If it is imposed and unreasonable they are constantly looking for a way to change it.
The Monetary System we use is assumed wrongly as reasonable, and that is why they comply willingly because it appears to “make sense”. 
But when people realizes how it really works, then we can start the ball rolling to change it together.
The vast majority of people in the world have the wrong assumptions about how their currency comes into being.  For an explanation check the links below.

1-We take back the power to create money, to issue currency from the FED and the PRIVATE banks, just the same as Lincoln did with the Greenback during the war.

2-Gradually we exchange the new SOVEREIGN currency with the MONEY AS DEBT dollars issued by the fraudulent Fractional Reserve System and the FED in order to avoid inflation.  In other words we pay the government’s debts with the NEW SOVEREIGN money that bears no interest.

3-Nationalize or disband the FED (Federal Reserve Board which is a Cartel of Private International Banks)

4-Force banks to lend only the Real Sovereign Money they have.  No more hanky panky lending more than ten times their real assets.

5-Inject enough currency to stabilize the economy, extending credit to worthy businesses and people, but being careful not to ad too much liquidity to avoid inflation, or be too short to avoid deflation.

6-Stop paying INTEREST to private banks, since the currency is created without debt, bearing no interest to the government.  Therefore NO government debt, no interest payments to private banks.

And more suggestions as described in the links below.

IT IS THEIR GAME, it is NOT our game so we simply can refuse to play it if we start issuing our own currency at a city level, or even better at a State level because the laws permit for State banks issue its own currency LIKE NORTH DAKOTA has been doing. for 100 years.

This is the MOST BASIC problem we all have, and unless we solve it NO OTHER PROBLEM will ever be completely solved, because every single dollar in circulation is owed and banks sooner or later will end up with all the money AND all the assets in the Real Economy.

CHECK THESE LINKS TO BETTER UNDERSTAND WHAT I MEAN.

MONEY AS DEBT 1
http://vimeo.com/3843038

THE MONEY MASTERS 1
http://video.google.com/videoplay?docid=6076118677860424204#

Renaissance 2.0: Lesson 1 - Revisiting American History - Financial Empire
http://www.youtube.com/watch?v=l37RhdFGVsM

Renaissance 2.0: Lesson 2 - Revisiting Economics 101 - Debt
http://www.youtube.com/watch?v=BGTBkNJ8ZWI&feature=related


DEBUNKING MONEY (#1): Money, Myth, and Machiavelli
http://www.youtube.com/watch?v=3uWCOvnOtTI&feature=related

DEBUNKING MONEY (#2): The US Monetary System and Orwell’s Animal Farm
http://www.youtube.com/watch?v=bGTBJI1ZO6Q

 


“Only the small secrets need to be protected,
the big ones are kept secret by public incredulity”
                            Marshall McLuhan

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By brent, December 10, 2010 at 10:53 am Link to this comment
(Unregistered commenter)

i was listening to the podcast last night and it just dawned on me this morning who Scheer sounds like… Pacino.  his voice could be used as for a stunt double in Pacino’s next Disney animation.

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Not One More!'s avatar

By Not One More!, December 10, 2010 at 4:57 am Link to this comment

Hey,

Check out the song, ‘Don’t Trust the Government’ by Attila and the HUNZ.

http://www.AttilaAndTheHUNZ.com

We are facing just a little problem. It’s the government, the media, the social structure, the education system, the lack of universal health care, the war based economy, unsustainable consumption, destruction of the environment (and a few more). Other than that, things are going pretty good.

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sallysense's avatar

By sallysense, December 9, 2010 at 8:37 pm Link to this comment

(for wikileaks and the u.s.a.!)...

in a land where a country’s high leaders lay claim…
united states people stand feeling close pain…
their ears hear those big shots come up with excuses…
but a quick look around soon reveals where the truth is!...

from vacant lot store fronts to more soldiers’ graves…
home planted sale signs hide mailbox names!...
college loan paybacks tack federal debt…
while industrial workers learn of layoffs they’ll get!...

from stress-filled environments to lone chilly rooms…
paycheck to paycheck can’t face future doom!...
already our seniors and jobless and ill…
view less options left with so few dollar bills!...

this is our country folks!... see for yourselves!...
the majority are us and most everyone else!...
struggling with hardships under all those in charge!...
as governmental misbehavior runs rampant at large!...

why is it our leaders dislike these truths shown?...
is it not we the people who deserve rights to know?!...
when did government’s first duty become serving the government?!...
and not justly the people for whom they were sent!...

how can leaders say ‘patriot’ means being patriotic to them?...
when they won’t play by the rules a constitution defends!...
instead it is them who lack the patriotism…
to stop their own underhand tactics which bring further bad things!...

and how can leaders use terrorism as an overall reason?...
to keep their own bully methods hidden somewhere in secret?!...
they intimidate unfairly to sway public opinion…
and steer clear of truth needed to fix dilemmas we’re in!...

this is our country folks!... see for yourselves!...
the majority are us and most everyone else!...
struggling with hardships under all those in charge!...
as governmental misbehavior runs rampant at large!...

how can government’s deception be the best way to rule?...
when that curve of its wrist bends most fair and square tools!...
hence without accountability it’ll feed a free-for-all!...
as our country’s representatives wheel and deal above the law!...

it’s no surprise that the government abhors wikileaks!...
truth might hinder the officials soon from doing as they please!...
and make it more difficult to reassure u.s. citizens…
not to fret government’s business and leave it all up to them!...

but we must tend to our nation and future well-being!...
to end unjust procedures and the policies we’re seeing!...
they insist we believe in things proven untrue!...
now we need these disclosures to help build anew!...       

this is our country folks!... see for yourselves!...
the majority are us and most everyone else!...
struggling with hardships under all those in charge!...
as governmental misbehavior runs rampant at large!...

support wikileaks!... http://wikileaks.ch

the best of wishes’n'ways’n'todays to bring fair’n'square and care!... smile

(shared this elsewhere and just wanna share this here too)...

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By rend, December 9, 2010 at 1:11 pm Link to this comment
(Unregistered commenter)

posted in honor of Thomas L. Friedman, another arrogant useless wanker.

http://www.youtube.com/watch?v=koY6kXhQDQo&feature=youtube_gdata_player

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By C. G. P. Grey, December 9, 2010 at 9:59 am Link to this comment
(Unregistered commenter)

Thanks for using my image, but could you provide a linkback to my personal page
as attribution?

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By Yo' Mamma, December 9, 2010 at 2:00 am Link to this comment
(Unregistered commenter)

I am extremely happy for you guys getting together and engaging in a collective media project!

Thank you very much.

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