Arresting Bankers Good For Us, Wall Street Sales Tax Bad For Us

In an ideal world the bankers would already be in jail and their assets would have been seized to make restitution to the taxpayers, savers and pensioners from whom they stole tens of trillions of dollars.

Webster Tarpley correctly noted that the nationwide police repression at Occupy Wall Street protests in the US after came after Adbusters and Occupy Wall Street endorsed a Wall Street Sales tax.

Tarpley has also been actively trying to steer Occupy Wall Street towards a Wall Street Sales Tax which has been called a Robin Hood Tax and was originally known as the Tobin tax. It is tax on financial transactions. Tarpley recommends 1%.

Tarpley is right when he says it was the Wall Street Sales Tax that brought out the police. Local cops have been telling homeless people they will not be arrested for sleeping outdoors if they go to the Occupy Wall Street demonstrations. This makes the protestors look bad on TV which is all that matters.

Tarpley is wrong on the Robin Hood tax on financial transactions because after the bankers are arrested and their assets seized, it will be a tax on our pensions and our savings.

I would ban all Credit Default Swaps and most derivatives so all that remains to be taxed would be our pensions and international trade. Please note that the first order of business after the bankers and those who are accessories to their crimes have been arrested would be to seize their assets so we can cancel all government debts and fully fund pensions with assets rather than with government bonds.

Why would you want to tax 1% of the transactions when you can own 100% of their assets? To put that in proper perspective Catherine Austin Fitts has said the elite make at least 2 trillion annually in investment income from the money they stole from us. And they have a lot more ‘legitimate’ money which they won’t need in prison.

And, when I say seize their assets, I am including all of the Foundations controlled by the Bilderbergers, the Council on Foreign Relations, their affiliated and their criminal co-conspirators.

Tarpley has mentioned specifically that he wants to tax foreign exchange transactions. As soon as the CDS and derivatives are gone, a tax on foreign exchange will be a tax on international trade. I would support a tariff to protect American manufacturing. But a tax on all foreign exchange would make American exports more expensive. This is not something we need to do in a nation with a 23% unemployment rate.

Tarpley also would like to tax the sales of stock shares. But after we seize the tens of trillions of dollars the bankers stole from us we will be taxing our pension funds.

Tarpley has said many times he wants to issue a trillion dollars in 50 year zero interest bonds. This makes absolutely no sense in an ideal world where the FED has been seized and we issue a non-interest bearing currency. Why issue bonds that have to be repaid when we could issue a currency that is interest free and does not require payment?

The Occupy Wall Street movement began with Anonymous. The first person they contacted was David DeGraw who seemed to hang out at Zero Hedge. It was picked up by Adbusters. Then Foundations owned by the elite sent in operatives to steer them into dead ends. In Spain the operatives convinced the students at the protests that they could do nothing until they reached 100% agreement in their general assembly. These students were called the idignatos. Two of the idignatos were sent to New York to infiltrate the Occupy Wall Street movement and have them adopt the Spanish idea of a general assembly.

When the movement finally demanded action, Adbusters came out for a Tobin tax on financial transactions. This drove the police into the protests with tear gas and rubber bullets. The European Bilderbergers support a Tobin tax but the English and American members do not. The Europeans are inside the Eurozone and do not care about taxes on foreign exchange.

I listen to Tarpley but completely ignore his advice. He used to work for Lyndon LaRouche. And his wife works for an Israeli firm. He always deflects criticism of Israel saying they are not very important. He is Jewish. He knows history and some European languages very well. He has some good sources of information but I do not accept his interpretations as readily as the facts he presents.

Related Articles:

25 Reasons To Absolutely Despise Bankers And Their Minions

https://vidrebel.wordpress.com/2011/07/24/25-reasons-to-absolutrly-despise-bankers-and-their-minions/

The Mathematics Of Austerity: Proving Austerity Never Was Even Intended To Work

https://vidrebel.wordpress.com/2011/09/12/the-mathematics-of-austerity-proving-austerity-never-was-even-intended-to-work/

“Arrogance Of A Banker”
https://vidrebel.wordpress.com/2011/04/28/arrogance-of-a-banker/

Arrogance Of The Secret Team
https://vidrebel.wordpress.com/2011/05/03/arrogance-of-the-secret-team/

About horse237

I have decided to share two of the visions I had as a child. When I was eight, I had a vision of a future war that killed 99.5% of the world's population. When I was 16 and living in the projects, I had a vision of my future. I was to live in complete obscurity until it came time to stop WW III. When I was about ten, I had read a bio of Nikita Khrushchev which said he survived Stalin by playing the bumbling fool an old Russian peasant trick. I decided to do the same as I had already learned that we did not live in a democracy. The other vision I had when I was in third grade was of the Mind of God and how it interacted in the creation of the world we see. I believe you and I were born at this time precisely so we would have an opportunity to stop this war. As for my personal info, I grew up on military bases and in housing projects. My legs atrophied from starvation as a child. My second step-father died in prison. I used to have to rub my skin to simulate human contact. They did not feed me when I was a child. I do not fight in their wars as an adult.
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8 Responses to Arresting Bankers Good For Us, Wall Street Sales Tax Bad For Us

  1. Long Shanks says:

    Who watches “mainstream” media TV anymore? I will NOT ALLOW the lying filth Israeli controlled propaganda in my home. Why?

    Because ISRAEL DID 9/11 and many other atrocities.

  2. johnbrown says:

    Currently, large firms use proprietary trading software on literal supercomputers which are connected with custom data cables to the stock exchange. These allow them to buy and hold stocks for fractions of a second, and though each trade might only make fractions of a cent, they add up to real money, without adding any value to the economy.

    A true investor, like a traditional pension fund, buys and holds a position for months or years, so a small transaction tax would be hardly felt by them. A speculator or a flash trader on the other hand might hold a position for hours, even minutes, seconds, or fractions of a second, so a small transaction tax would put them out of business. This is the real purpose of a financial transaction tax – not the revenue raised, but how it would turn Wall St. from a casino back into an investment center. This is also why the big firms, which have turned themselves into casinos, oppose any transaction tax – it would force them to change their business model from casino speculation back to making sound investments based on fundamentals, which is apparently less profitable than gambling & getting bailed out.

    Tarpley wants a 1% transaction tax, but even a 0.1% transaction tax would greatly level the playing field and, counter-intuitively, would be good for your mutual fund or pension account, because it would make it more difficult for the speculators and traders to outmaneuver them or manipulate markets. The lack of a transaction tax is a big part of the unequal playing field that allows Goldman Sachs and BoA to make high profits while the pension funds take losses – the Too Big To Fails know this which is why the demand for the tax so frightens them.

    But yes, ultimately the problems run much deeper than flash trading on Wall Street, but the system is becoming so shaky that it can’t afford even a pillar or two to be kicked out from under it, which is what a transaction tax would do.

    • horse237 says:

      All High Frequency trades would be illegal. The Bank of New York Mellon has 25 trillion dollars in pension funds which they clip for .3% on each transaction.

      Like I said. I would seize their assets and give them to our pension funds and to cancel debts. Previously, I said I would put all pension funds into co-operative trusts in our name and under our control.

      Why in the world would anyone want to pay taxes on their pensions? The brokerage forms churn pension funds to generate fees. I would stop that. Tarpley would add a tax on our pension funds to that brokerage fee.

      I could fund infrastructure improvements from monetary expansion.

      In a previous essay I said I would pull out of the 12 nations where we are killing but I would invade the Cayman Islands. I would seize their assets. It would be enough to eliminate all income taxes on married couples earning less than $125,000 a year for 3 years to get the economy into recovery.

      Tarpley just wants to spend a lot of money the way he thinks it should be spent.

      • johnbrown says:

        Sure, I support your solutions. Your solutions are more like marching all the way to the enemy capital, while a transaction tax is like taking the next foxhole. Of course we need to take the enemy capital, but then the tricky question becomes what route to take to get there… Unfortunately, as a practical matter, most people don’t understand that high-frequency-trading even exists, but most people do understand the concept of a sales tax, so in a sense it’s easier to rally support for a Wall St. sales tax than for a ban on HFT, even if the outright ban made more sense.

        Also, taxes can sometimes have the opposite effect that you’d think at first – for example, parking meters are a tax on parking your car in a city, but they actually can make it easier and cheaper for people in cities to find parking and to park, because without them drivers would leave their cars downtown and only expensive garages would be available for anyone else. Property taxes can sometimes actually make housing more affordable – higher taxes drive investors and speculators out of the real estate market, leaving only those who need to use the property still in the market – the decline in price caused by the departure of the investors, speculators, and second home owners will sometimes lower the cost of living more than the rise in taxes increases it, with the strange net effect that the extra taxes can in some situations actually make property more affordable for the average person. I’m not arguing for that policy in particular, but it’s interesting to think about taxes as not just about cost and revenue, but also as having the effect of discouraging whatever behavior is taxed. If you admit some behavior is bad, then you have an argument for taxation which is independent of any revenue it might generate, which is interesting because taxes are almost never presented in this manner. Tax labor, for example, and you’ll have less labor – tax exploitation of labor, on the other hand, and there may be less exploitation. For example, imagine a tariff on foreign imports from countries with fewer labor or environmental protections than the U.S. of an amount equal to the estimated cost savings companies make by the absence of those protections in that country. One could argue that such a tax would help prevent countries from competing to have the most desperate work-force and worst environment in order to attract investment in a ‘race to the bottom’ and therefore the tax would be beneficial even if all the revenue gained was dumped into a lake.

        I think it’s interesting to think about how our economy and tax structure often discourages doing real productive work and saving it prudently, and instead rewards speculation, debt, idle usury and rent extraction, and what would it look like if the situation were reversed. In other words how could wealth earned through non-productive activity be actively discouraged instead of encouraged? The one advantage of a transaction tax is that a firm or investor who did their homework, bought stock in a promising company and held it for ten years would hardly pay anything, but a company which made money from short-term fluctuations, market rumors and manipulation would be taxed heavily by it – in other words, don’t think of it as a tax of a certain percentage on everyone who does business on Wall St., because it would fall the most heavily on the least productive firms and people there.

        It is just one small step though and you’re right that the bigger issues need to be brought to public awareness.

  3. horse237 says:

    I have said before we are near collapse. If they do not transition to a complete dictatorship, then we can take over. Another possibility is a military coup.

    I have said that the 2012 elections will be a sham. The real event will be the devaluation of the dollar and a 50% permanent pay cut. But that can be defeated.

    If anyone wants to understand real economics please watch this video. He is talking about our current money system. A debt free money system would be even better because there is no counter party risk.

    Keen Crash Course Part 1
    http://www.youtube.com/my_subscriptions?feature=mhee

  4. Pingback: The Economy | The Aussie Digger : Home of all Australian Veterans ex Service and Serving members

  5. Pingback: Don’t worry about a Wall Street tax, just seize all the super elites criminally gained assets | OzHouse Alt News

  6. Pingback: The Banking System is Pure Evil - Page 19

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