Tell me again when Capitalism has ever been “free” or “fair?”
May 30, 1959
When a group of bears began selling Piggly Wiggly short to force the price of the stock down, Saunders began a buying campaign to support the price of the stock in order to protect his own investment & that of other Piggly Wiggly stockholders. He supplemented his own funds with a loan of about ten million dollars from a group of bankers. His buying campaign was an attempt at a corner.
The stock went up wildly, reaching a high of 124. At this point the Exchange suspended further trading & postponed the short sellers’ delivery deadline. This resulted in eventual bankruptcy for Saunders & he was finally forced to step out of the Piggly Wiggly Company.
“But, but, TRUE CAPITALISM has never been tried!”
https://www.newyorker.com/magazine/1959/06/06/a-corner-in-piggly-wiggly
Banned Hipster 
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the entire idea of shorting stocks and selling “mortgage back securities” should confuse the mind of any person living outside of the jewish collective psychosis. There is a great study on “associative magic” in the golden bough, and jewry has always been masters of the associative magic swindle. They have the saying in jew speak of “I create when I speak” (abracadabra). the stock market to me, a simple midwesterner (a peckerwood if you take away all my creature comforts) is just an elaborate jewish magic show. When I hear people try to logically explain shorting stocks as a means to “make a living” I think the best solution to them is lobotomy, preferably a 12 gauge lobotomy.
Boomer talk aside, making a more cooperative and owner based society would do wonders to shackle these magicians. force them to have physical presence in a company in order to “trade”. really I think the feudal europeans had it best with obligations. people really have no business just dropping in and “buying” up all the “futures” and changing things around in abstraction if they themselves are not out there digging the silver or cutting the grain. a jew or a money changer really should not be allowed to speak in the presence of honest people since he seems to only “create when he speaks”, thats the hegel joke that they put to the jews, “work makes you free”. Imagine being so fundamentally enslaved that you can only survive predating in abstractions of exchange rates.
-break up the monopolies and trusts
-UBI for small business owners and tax reductions for white families with more than 2 kids
-no social services for non whites (including electricity, gas, water)
-labor obligations in guild/ cooperative work battalions for non business owners in order to obtain UBI
-every white family has a tax free land and domicile
-no banks
/autism
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Our actual economy is enslaved to financial abstraction.
And it is the Baby Boomers – literal Welfare Queens – that stand in the way of any kind of meaningful reform. Baby Boomers falsely believe they are “capitalists” because they have some equity in a home and a 401k.
If we had anything close to market discipline, the vast majority of Baby Boomers would be underwater. A $400k home would sell for $80k. A one million 401k would be worth less than $100k.
But Baby Boomers would rather drag the entire country down with them before they accept the reality of their complete dependence on the wider society and their actual status as comfortable proletarians – NOT capitalists.
In terms of the real economy of goods and services, North America is ultra-rich. But under the rule of abstract finance, we are “in debt.”
This is why I take such a strong stance against this “capitalism” illusion the Reagan Boomers cling to.
Soon, the Baby Boomers will be dead, and we are going to see a massive correction – UNLESS the Boomers keep voting for mass immigration supporting politicians to prop up their inflated homes and 401ks.
So we are going to have a majority of non-white, non-American “immigrants” in America – perhaps a BILLION – all because some fat-assed Rush Limbaugh listening moron can’t admit he isn’t a “capitalist” – he is just a “worker” like the rest of us.
We have a huge narcissism problem, mostly due to the advertising industry. The TV ads have told these Boomers that they “deserve” various things that they actually do not.
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yeah alot of those boomer types you mention seem alot like they are programmed to act like TV show characters. they have a fundamentally unreal/fantasy based view on actual reality. they are living in this mentality where they drank all the kool-aid from all the ads on TV and the TV show characters. its like the boomers/xers who think they are like rambo from commando when they put on their guns and gear. there are even millennials doing it too. it seems to be a product of both public school prussian style schooling where you are taught to conform to the most simplistic LCD jocko-homo human type.
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truer words, … couldn’t agree more with that assessment. It’s been very difficult to watch this mental corruption play out for so many decades.
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The mass brainwashing to convince people to abandon pensions (including that old bugaboo, Social Security) for 401ks and IRA, thus becoming “a real player” in the market is something to behold. The next step was to convince us that temp or gig worker was being a “free agent” in the New Economy, an “entrepreneur” not a “wage slave” like those stupid union guys. Yes indeed, in the new economy “you are the product”.
I think sports was the wedge. People saw these ethnic halfwits negotiating multimillion dollar contracts as “Free Agents” and sticking it to the fat cat owners. Not enough people wanted to be Howard Roark but they all wanted to be Reggie Jackson.
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@James OMeara
“The next step was to convince us that temp or gig worker was being a “free agent” in the New Economy, an “entrepreneur” not a “wage slave” like those stupid union guys. ”
Yes, excellent point.
Here is how bad it is.
5% of Americans make more than 100k.
If you are making 100k, you are paying taxes out the ass: fully a quarter of your income goes to taxes. So your 100k is really 75k.
However, the tax system subsidizes Wall Street. You can save just $5,000 in an IRA, and IRAs do give you some sort of flexibility, in theory, you can invest your IRA in gold US Eagles – as long as they are held by someone else.
But the 401ks are worse. You can put 20% of your income, tax free, into a 401k. Something like 90% of companies that offer a 401k use just five or so companies. The funds you can invest in in a 401k are extremely limited. There is really only one reasonable thing to do, invest in an index fund (anything else is mostly bullshit.)
So someone who is really a “hard worker” and a “saver” – doing everything society tells him to do – is pretty much FORCED to invest in the stock market. For comparison, if you invested in gold coins when Bush entered office, you would have easily beat the stock market. But you can’t invest in gold coins and still get the tax break – you only get the tax break when you invest in Wall Street.
So the system is, “invest in Wall Street or lose it all to taxes.”
That isn’t a “free market” now is it? It’s pure subsidy to the stock market and financial firms.
Then of course there is the mortgage deduction, which is just pure welfare for the banks and an incentive to go into debt. You only get a tax break on the interest – not the principal – of a mortgage.
You are subsidizing loans, not savings – debt, not credit. So, surprise, surprise – housing prices go through the roof.
The entire “FIRE economy” is based on inflation, yet the financial press has convinced idiot Boomers and “libertarians” to believe that inflation is actually profit.
So we have to keep inflating FIRE, otherwise the entire house of cards collapses into a deflationary cycle.
Unlike the conservatives and libertarians, I’m not using some fringe ideology like “Austrian Economics” – this is just regular old neo-classical economics, the kind taught at university.
There are various changes I could propose, but what is the point? The point is not for me, some blogger, to figure out all the problems of the world. The best I can do is to try to get people to realize that their “free market” and “libertarian” ideology is complete bullshit – it is simply marketing and advertising for the FIRE economy.
Ever worse, now, you have stupid conservatives saying that Americans are too lazy and spendthrift, therefore we need “austerity” because Americans are just too rich…because “we” are “in debt.”
It’s all pure ideological nonsense with little connection to the real economy of goods and services – much LESS some sort of “moral” system that rewards “hard work” or whatever Sunday School lessons idiot Boomers give us.
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Lindy Hop as anti-Semitism is risible. I think a lot of those more vigorous (!) moves originated in Belle Époque Paris where the local thugs (“Apaches”) brought their fighting skills to the dance-floor.
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Tier 3: The economy is rigged and certainly corrupt.
Tier 2: The economy is fake and possibly gay.
Tier 1: The economy doesn’t exist at all.
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just checked w http://apmex.com
all physical silver products sold out, cannot name a price. Everything just marked “Alert Me”.
Monday should be fun. Even if redditors don’t attack SLV & PSLV – both a gigantic shorting racket, since most of the shares issued are backed by smoke not silver – they’ve created panic buying of the real stuff.
and the Vampire Squid – (((Goldman Sachs))) – is warning that the anti-shorts “could collapse the entire market (sic) like a row of dominoes”
let’s hope so.
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15 hours, 54 minutes until blast-off.
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What does “borrowing” stonks entail? Do the retirement and pension funds know their stonks have been “borrowed?
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@Malachi
That is a good question. In the case of “naked shorting” – they are “borrowing” stocks that do not even exist.
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Isn’t that like illegal? I mean considering Mark Rich was pardoned by the pedo Clinton; and he withheld 100,000,000 million dollars in taxes, I’m pretty sure we are living in a caste system at this point.
Also, the US is a CORPORATION. Read Chisholm vs. Georgia 1793. Thank me later.
Constitutional republic = Charter corporation.
Freemasons and Crypto-Jews founded the US corp.
Democracy is just the neo-Trotskyite Zio’s majoritative solution in propaganda, i.e., rubbing hands intensify, how do we get a majority of the population to do OUR bidding? Plus, their democracy is a catchphrase for spreading such a system worldwide in neology only. People eat it up nonetheless and those Libertardians and conservatives that don’t; they’ll quote the cuckstitution not knowing how to read THEIR LAW. Becuase their words determines what their government is, which is a charter corporation where congress is incorporated. That the CONSTITUTION APPLIES ONLY TO THEM and CITIZENS on a LIMITED LIABILITY BASIS. They’re able to get rid of these laws quite easily too but would rather distract us with their antiquity.
Rid yourself of state privileges, healthcare, banks, federal reserve notes, credit used as money, stocks, etc., and you are a free man. Problem is actually surviving now.
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Judas (yes you read right) the Galilean, the real man of history who cleansed the Temple. The basis (along with the Egyptian False Prophet) of the character in the New Testament.
https://biblehub.com/library/josephus/the_wars_of_the_jews_or_history_of_the_destruction_of_jerusalem/chapter_33_the_golden_eagle.htm
https://en.wikipedia.org/wiki/Judas_of_Galilee
https://en.wikipedia.org/wiki/Egyptian_(prophet)
Not to cast aspersions; I stand with The Galilean:
“Judas the Galilean was the author of the fourth branch of Jewish philosophy. These men agree in all other things with the Pharisaic notions; but they have an inviolable attachment to liberty, and say that God is to be their only Ruler and Lord. They also do not value dying any kinds of death, nor indeed do they heed the deaths of their relations and friends, nor can any such fear make them call any man lord.”
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@Afterthought
https://www.creatingchrist.com/
I dunno – Judas the Galilean’s “fourth philosophy” was more-or-less the Taliban of its time. As Josephus pointed out, they used to hide in the toilets to find out if people were circumcised and would drag them out and cut their penises if they were not.
If I were living at the time I’d be a Hellenist, not a Semitic fundamentalist.
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