Why is $21 TRILLION in the Cayman Islands when it should be in USA stimulating the economy?
By Neil F. Garfield, Livinglies
The latest reports show that all the real money in the world issued by governments totals around $85 Trillion. AND the latest reports show that 1/4 of all the money in the world is in the hands of “Companies” (Straw-men) controlled by people in the United States. And the last statistic I find important, is that the shadow banking system has now grown to approximately $1.25 QUADRILLION dollars.
How did that money get to the Cayman Islands when it wasn’t there before the mortgage madness meltdown? If you don’t believe in magic or coincidence one can only conclude that the Cayman money, most of which came from the our country, derives (i.e., is a derivative of) the false cash equivalents that was created by Wall Street. How did it get there?
Based upon my research, the money came from (a) skimming the investor money (around $17 trillion) before it ever reached the mortgage markets and (b) betting on losses under circumstances when the Banks were in total control of the losses and the declaration of who could claim those losses.
And there are other more exotic ways in which at least $3 trillion was siphoned out of the U.S. economy. Altogether it looks like bankers are controlling more than $10 trillion that was “withdrawn” from the U.S> economy and are still on their way to doubling that figure as they foreclose on residential and commercial property in which the real loss w as suffered by real people whose future pension and retirement benefits are going to be cut because of a shortage of money.
So while we are arguing about national deficit and joblessness and hopelessness, the bankers have been vacuuming up all the money we have and maintaining their overpowering oligarchy see this article which mirrors my own writing for several years and that of Simon Johnson and others from the International Monetary Fund and other prestigious economists:
Why Does No One Speak of America’s Oligarchs? – SEE SEPARATE STORY IN INEWS CAYMAN
With all indicators pointing to the fact that bankers control our deficit, our debt and our spending, it is an inconvenient truth that the U.S. is going through a period in which government is by the banks, for the banks. Jefferson warned us of this and Hamilton successfully countered Jefferson with some very reasonable arguments.
The truth is, if you look back into American history and politics, there were two things that the framers of the constitutions missed completely. Banking is a necessary ingredient in every economy and thus is the support for any society. Investment banking increases liquidity by coming up with increasingly exotic ways to lower the cost of risk and thus lower the cost of credit.
But, what both Jefferson and Hamilton missed was the possibility that the quest for profit would turn out to be like one of those sci-fi movies in which our own creations — robots — take over the world and kill all the humans.
The answer is a middle ground — to treat banks for what they are, just like water, power and other utility companies that are essential for human existence. By putting them under restrictions that are reviewed for their effect on society, and indeed the world, the likelihood of another crash would be substantially reduced.
As it stands now, the likelihood of another crash and recession is at least as high as it was in 2007. Everyone is buying gold but nobody is talking about it. The fact is that with the next crash the use of American currency as the world’s currency will diminish to near zero. And THAT means we will need to find something that pays back all that currency we have issued in a form acceptable to other nations.
The reason things are out of hand is the housing crisis and the failure of regulators and law enforcement officials to tackle the big problems the way the Senate is attempting to do in the break-up of the big banks. They see the risk. Whether they can act in time to prevent another drop into the abyss remains to be seen.
The entire TBTF doctrine is a cover-up for “let us keep the money we stole.” Take back the Cayman money and we have a thriving economy where workers are trained, deficits go down and the national debt tumbles. But that would mean allowing homeowners to reap rewards from Wall Street’s game — restoring their equity in homes that had been pumped in appraised value far beyond anything real. For reasons that defy imagination it seems to the the policy of this country that it would be better to stay in recession, better to allow the bankers to escape jail. better to leave with their trillions in the Cayman Islands, than to allow relief to the most essential segment of any economy — the middle class which is shrinking as I write this.
Who do you think will buy your upscale goods and food and services if 46 million Americans are living below the poverty line as it is MOST conservatively measured. Where will the revitalization of the American economy come from when the true number of Americans ling right at the poverty line or below is more than 80 million.
The facts are actually quite simple, but Wall Street, in its quest for continued control attempts to make them complex. If the debt owed to investors whose money was loaned on residential and commercial deals has been paid down or extinguished, then the borrower should have a corresponding reduction in his payable. That’s all we need to stop foreclose and restore the American dream. Shout out to the Senators in the U.S. congress to get on the stick and restore money to the U.S> Treasury and restore money to those who were victims of the mortgage scam, and while you are at it, make sure you find out state senator and state representative and tell them the same thing. “Give up your alliance with the banks or suffer the consequences.”
First and foremost where is the media, which has gone dark on stories about bank criminal activity? Where is the outrage?
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