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overtheedge
Member since May 2012
680 commentaries - 6 followers

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Of Precious Metals and Unsuccessful Parasites - Jeffrey Lewis -

Wow, kind of harsh treatment for bankers isn't it?

I won't argue the events you have stated.
I won't argue the perceived unfairness.

What I will argue is the fiduciary responsibility of the banks is to maximize shareholder value.
What I will argue is that laws unenforced are NOT laws in fact, but rather talking points or open for negotiations. Make $20B, pay a $275M fine and don't do it again.

What I will argue is that the banks are NOT the parasites, but rather the enablers of the parasites.

Look at who really benefits from these banker actions? Government and shareholders. Among those shareholders are countless pension plans. Granted the bankers themselves make massive incomes, but they earned it by maximizing shareholder value. The shareholders bought in and risk their assets. Not so the government.

The real parasite is government. Government produces nothing, engages in redistribution schemes designed to maximize voter loyalty and carries an extreme postage/handling fee for marginal efficiency. The government is a ravenous consumer of hard-earned wealth through disproportionate taxation. The entire banking sector enables this level of managerial incompetence in the nation's governance.

Government, governance, governor. What is the root word and what does it mean? Control. And who controls the banks? Uh-huh, the government.

So get off the bank's case. The problem is a people (herd) that won't save and the same people demand that the government provides Tier 1 of Maslow's Hierarchy of Needs at little to no cost to the recipient. And the government complies with the herd's demands in return for their vote next Tuesday. Our system of governance has become all about pimps and prostitutes. And I'm not sure which is which, but I tend to think they take turns.

I am somewhat consoled by the knowledge that, "If something can't go on forever, it will end." So what'cha got for trade? Commerce will go on, but not in a form most are use to. Everything will soon trade at its intrinsic value.

Commented 4093 days ago

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Beginning of the headline :Successful parasites do not kill their hosts, yet the currently parasitic banking system seems to be unsustainable for this very reason.Like an ineffective parasite, the huge international banks have sucked the juice from and distorted their hosts — the economy, the financial system, and even the culture — to the point of a sudden collapse potentially occurring. The Parasitic Bankers’ OffensesIn addition to just living off their hosts, the parasitic banking cartel has committed a series of serio... Read More

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