Zebra 3 Report by Joe Anybody
Wednesday, 14 September 2011
Passport ...Visa and some history
Mood:  amorous
Now Playing: Show me your papaers - ID and the tracking of people and movement
Topic: POLITICS
Passport and Visa_Wendy McElroy

Passport and Visa

Wendy McElroy

http://oathkeepers.org/oath/2011/09/09/wendy-mcelroy-passport-to-the-total-state/

 

Mises Daily: Wednesday, September 07, 2011 by Wendy McElroy

“Your papers!” In old movies, the demand is barked at trembling travelers by a Nazi with a guttural accent. If the demand is made in the opening scene, then the audience knows immediately that they watching a totalitarian state in which travelers are in danger.

“Your papers!” now rings out at every American airport and border crossing. The accent is different but travelers need to recognize with equal immediacy that a totalitarian state is playing out in front of their eyes, and they must be careful.

A passport is where the security theater begins. Indeed, without a passport those who wish to fly or cross a border are not “allowed” to be scanned, searched, interrogated, or undergo a plethora of other indignities imposed by uniformed thugs. The hoops through which passport carriers jump are all prelude to “permitting” them to exercise a right belonging to every freeborn person: the right to travel.

America and the world were not always this way. It is important to remember that there once was a world in which people traveled freely across borders without paperwork to visit families, pursue education, conduct business, and mingle. Freedom worked once. It enriched the world economically, culturally, and psychologically.

War Converts Convenience into Blatant Abuse

The modern “passport” is commonly defined as, “an official document issued by a government, certifying the holder’s identity and citizenship and entitling them to travel under its protection to and from foreign countries.” But are passport privileges to be conferred or denied by government, or are they mere conveniences that cannot be properly required for people to exercise the natural right to freedom of movement? Do they protect peaceful travelers or merely facilitate the state’s grip on the flow of people and property?

The foregoing descriptions of passports have all been true at some point in history.

Travel papers date back to antiquity and were generally intended to protect the bearer as he passed through foreign territory. The King James Bible (Nehemiah 2:7) states,

I said unto the king, If it please the king, let letters be given me to the governors beyond the river, that they may convey me over till I come into Judah.

In some areas, the issuance of letters also served as social control. According to Wikipedia, “In the medieval Islamic Caliphate, a form of passport was used in the form of a bara’a, a receipt for taxes paid”. Those in arrears could not travel even within the Caliphate.

READ THE FULL ARTICLE HERE: http://oathkeepers.org/oath/2011/09/09/wendy-mcelroy-passport-to-the-total-state/


Posted by Joe Anybody at 7:40 AM PDT
Tuesday, 6 September 2011
Many 911 pictures
Mood:  crushed out
Now Playing: 911 pictures "Here is New York"
Topic: 911 TRUTH

911 pictures

There are many pictures here on this site

Just use the drop down box to access the file(s)

http://hereisnewyork.org/gallery/

Many of these pictures I have never seen before:

~joe

 

 


Posted by Joe Anybody at 8:36 AM PDT
Filming the Police - August 2011 topic in the AP press
Mood:  lyrical
Now Playing: can we film the cops - I know we can - what are others saying
Topic: POLICE
The Original Link Is Here:
 

Police vs. cameras:

Why would they object?

Published: Wednesday, August 03, 2011, 4:45 AM
Right-click here to download pictures. To help protect your privacy, Outlook prevented automatic download of this picture from the Internet. Syndicated columns By Syndicated columns The Oregonian
Right-click here to download pictures. To help protect your privacy, Outlook prevented automatic download of this picture from the Internet. pitts.jpg
By Leonard Pitts Jr.

This all started with Rodney King.

More to the point, it started with a plumber named George Holliday. Had he not been video recording from his balcony, that night in 1991 might have been business as usual for Los Angeles police who struck King, a harmless drunk, 50 times with their batons, breaking his leg, his cheekbone and his skull. Had Holliday not captured video proof to the contrary, they might have gotten away with some lame excuse: Oops, he slipped on the stairs.

But thanks to Holliday's camera, we all knew better.

Twenty years later, cameras have become ubiquitous. They have captured entertainer meltdowns, crashes, tasings, deaths and a seemingly endless carnival of police misbehavior: questionable beatings, controversial shootings and unprovoked violence by those we hire to protect and to serve.

Perhaps not surprisingly, many police now identify cameras as the enemy.

Last week, news photographer Phil Datz was arrested on Long Island for videotaping a police action on a public street. In June, a man named Narces Benoit said Miami Beach Police pulled him from his car by his hair, handcuffed him and stomped his cellphone (which police deny) after he used it to record video of a fatal police shooting. In May, a woman named Emily Good was arrested for recording a traffic stop from her own front yard in Rochester, N.Y. In March, a Las Vegas man was beaten and arrested for videotaping police from his own driveway. In March of last year, a motorcyclist was arrested for recording his own traffic stop on a Maryland highway.

According to a 2010 report on the technology blog Gizmodo, at least three states have made it illegal to record an on-duty officer. Other states use existing wiretapping laws to support their arrests, a novel and selective interpretation of those statutes. What makes it novel is that such laws are typically invoked when telephone conversations are recorded; they require that both parties are aware of, and approve, the recording. What makes it selective is that one never hears of people being roughed up and arrested for recording videos that flatter the police.

The only thing more outrageous than the behavior is the excuses used to justify it. One of the cops in Rochester claimed, obviously for the benefit of the camera, that he did not feel "safe" with Emily Good recording him. Miami Beach Police claimed they confiscated videos only to safeguard the evidence.

Oh, please.

That stench you smell is the reek of official hypocrisy. Because the same police who so violently and vividly resist being recorded in the performance of their duties have no compunction about using the same technology against you and me, from the speed camera that catches you when you go flying through the school zone to the new gizmo that reads your license plate and checks for warrants.

If it is OK for police to use cameras to catch us in our misdeeds, why is it not OK for us to use cameras to catch police in theirs?

There is something chilling and totalitarian about this insistence that cops have the right to do as they wish without what amounts to public oversight. What is it they fear? After all, the officer who is being videotaped can protect himself by doing one simple thing:

His job.

Leonard Pitts writes for The Miami Herald.

 
Comments are posted on the original post website:

Posted by Joe Anybody at 6:00 AM PDT
Updated: Tuesday, 6 September 2011 7:53 AM PDT
Thursday, 18 August 2011
How much did it cost for all the police lawsuits in Portland Oregon
Mood:  incredulous
Now Playing: Police Mistakes in Portland Total $6,867,525.32
Topic: POLICE

Top 25 Settlements: Portland Police Incidents settled 1993-2011 totalling rougly $6.9 million***
Note:

Some amounts are settlements, other are jury awards or judgmentsName Amount Date settled Incident date Brief notes
  1. Family of James Chasse, Jr.* $1,600,000.00 7/28/10 9/17/06 Use of force (leading to death)
  2. Protestors August 2002&May 2003 $845,000.00 12/1/04 8/22/02 Use of force (pepper spray)
  3. Family of Damon Lowery $600,000.00 6/25/05 12/5/99 Use of force (leading to death)
  4. Family of Raymond Gwerder $500,000.00 11/14/07 11/4/05 Shooting (died)
  5. Barbara& Ted Vickers, Estate of Dickie Dow $380,000.00 3/27/02 10/19/98 Wrongful death/Dickie Dow
  6. Family of James Jahar Perez* $350,359.00 9/3/08 3/28/04 Shooting (died)
  7. Daniel Thomas** $311,000.00 3/14/08&9/28/04 7/11/03 Use of force
  8. Bruce Browne $200,895.00 4/1/03 7/11/01 Shooting (lived)
  9. Family of Dennis Young* $200,000.00 10/8/08 1/4/06 Shooting (died)
  10. Maria-Janeth Rodriguez-Sanchez $177,161.41 12/2/05&8/3/05 4/8/03 Use of force
  11. Harold Hammick, Ri'Chard Booth & Alex Clay* $175,000.00 (jury) 9/23/09 3/17/07 Mistreatment (pointing guns and more)
  12. Family of Peter Gilbaugh* $150,000.00 10/1/02 12/31/98 Shooting (died)
  13. Barbara Weich $150,000.00 1/2/08 5/29/05 Use of force (broken arm)
  14. Eunice Crowder $145,000.00 4/23/04 6/9/03 Use of force (including Taser)
  15. Chaz Miller $133,926.06 6/21/06 4/21/03 Use of Force/wrong person arrested
  16. Gerald Gratton $118,000.00 4/4/94 7/19/93 Shooting (lived)
  17. Two women victims of Ofcr John Wood* $105,000.00 2/25/09 7/21/06 Use of force (broken arm)
  18. Ivory Spann $100,056.79 4/7/97 6/6/93 Force/Baton hits
  19. Family of Duane Anthony Shaw $100,000.00 10/25/95 9/14/93 Shooting (died)
  20. Johnny Senteno $96,975.23 12/30/94 8/21/93 Use of force/Arm broken by projectile
  21. Janice M Aichele (deceased) $90,000.00 11/7/96 10/6/94 Off-duty shooting (murder/suicide)
  22. Heather Bissell $88,385.83 9/23/05&8/17/05 4/30/03 Use of force/arrest
  23. Dalebert V Acelar and 3 others $87,000.00 6/16/99 10/17/97 Unlawful search/detention
  24. Shei'Meka Newmann* $82,000.00 4/14/11 (jury) 2/13/09 Use of force, false arrest, malicious prosecution
  25. Hung Mingh Tran* $81,766.00 1/30/11 11/24/07 Use of force (Taser)
Total $6,867,525.32 Sources: Portland Office of Risk Management, Portland Office of Management and Finance, Portland City Auditor's Office and various news agencies This chart should be published regularly by the City to let people know what police misconduct is costing the people of Portland. Sure, they can argue that in cases that were settled out of court they never admitted wrongdoing, but if they felt they had a sure chance to win, they'd defend their officers. The $6.8 million total for just these 25 cases does not include another $2.7 million paid out to over 200 other people from 1993-2011. With an average of at least $500,000 per year, the City could be paying for several civilian investigators to staff an independent police review board. Perhaps with ongoing external monitoring, the frequency of such cases would decline. As many cases after 2007 have not gone through the courts yet, we can compare the average annual totals for incidents between 1993 and 2001 ($382,000) and from 2002-June 2011 ($636,000)***** and see that the advent or Portland's "Independent" Police Review Division in 2002 has done little to slow the lawsuits or the misconduct that generates them, and in fact it may be that more people are turning to the courts rather than using the civilian complaint system (see PPR #44, May 2008). --16 of the top 25 are incidents that occurred since 2002, when the IPR began operating; 8 of the top 25 are payments made since January 2008. --Some of the amounts shown include the City's legal expenses, making them appear higher than the settlements alone. But since this expense comes back to you, the taxpayer, we feel all expenses should be included when known. For example, Heather Bissell's case settled for $50,000 but the figure above includes $38,000+ in city expenses.

Notes:
*-new info or new settlement/judgment since April, 2008
**-Daniel Thomas' case ended with a judgment in March, 2008 of $100,000, but the city closed out his original claim with $91,746.53 in city legal expenses. The total reported payout including attorney's fees was $311,000 (Oregonian, 12/10/09)
***The total of the top 25 up to 2005 was $3.6 million; in April 2008 it was $4.5 million
****Ladd was beaten by off-duty officers, but on-duty cops acted to cover up the beating
We use the term "settlement" loosely to cover settlements, judgments, and other payouts by the city to cover the costs of police misconduct.
*****Portland Copwatch has incomplete data for 2008-2011 but hopes to update this information soon.

 

Posted by Joe Anybody at 8:46 PM PDT
Wednesday, 3 August 2011
VETERANS FOR PEACE NATIONIAL CONVENTION
Mood:  chatty
Now Playing: Thurs - Fri - Sat - Sun - Come One Come All
Topic: WAR

PORTLAND OREGON

VETERANS FOR PEACE NATIONIAL CONVENTION

 

ALL MY VIDEOS ARE BEING POSTED

ON INDYMEDIA FROM THIS EVENT

http://portland.indymedia.org/en/2011/08/409645.shtml

 

Veterans For Peace annual convention - 2011 - at Portland State Univ, Portland, OR. Opening Reception tonight, 5 pm - 7 pm (Wednesday, Aug 3) at Poolside, University Place Hotel, 310 SW Lincoln St. Opening Plenary Thursday, 10:30 am -12:30 pm, Lincoln Hall Auditorium, 1620 SW Park Ave betw Market & Mill & hear radical prof Robt Jensen, "Notes on revolution, revelation and redemption." Come one, Come all. Help support VFP

 

http://www.vfpnationalconvention.org/

 

 

============================================

 

JOE ANYBODY VETERAN RELATED VIDEO ARCHIVE

==============================================
 

 

 

http://www.joe-anybody.com/id123.html

 

Veterans For Peace

=======================================

 

http://www.joe-anybody.com/id117.html

 

IVAW Seattle

=======================================

 

http://www.joe-anybody.com/id122.html

 

IVAW Portland

=======================================

 

http://www.joe-anybody.com/id79.html

 

War resisting page

========================================


Posted by Joe Anybody at 2:42 PM PDT
Updated: Thursday, 18 August 2011 8:48 PM PDT
Thursday, 21 July 2011
CNET web tool suggestions for social media users
Mood:  special
Now Playing: web tools - worth knowing about sooner or latter
Topic: MEDIA

http://edition.cnn.com/2011/TECH/web/07/20/useful.apps.sites.tools/index.html

50 new tech tools you may have missed

 

50 new tech tools you may have missed

(CNN) -- Technology can make your life easier, but figuring out which tech tools to trust can be tiresome at the least and eye-poppingly stressful at worst.

To help, here's a list of 50 recently released or updated websites and apps that will make your mobile photos look better, improve your online social life and boost your productivity.

This list is by no means all-inclusive, so feel free to tell us about your favorite tech tools in the comments section or on Twitter. We're @cnntech.

Google Plus (free): It's too soon to tell whether Google's latest social network is social media's new king of the hill. However, one thing's for sure: The initial user reviews are very positive, and the strong bundling of social innovations make Google Plus -- often described as "Google's Facebook" -- worth the test drive.

Google Plus Nickname (free): Now that you've jumped in the Plus-pool, time to head over to Gplus.to for your own personalized URL.

Facebook-Skype (free): Made official last week at Mark Zuckerberg's recent announcement at Facebook headquarters, the service isn't yet available for all users. Users take advantage of the video-calling feature via Facebook without having to install any software. Some are criticizing the service for falling short of the Google+ hangout feature, where users can join group video calls up to 10 people. Facebook's video chat is only one-on-one.

Tout (free): Virtually no one had heard of this micro-video service until Shaquille O'Neal used it to recently announce his retirement from pro basketball. After garnering more half a million views in three hours, Tout had arrived with a splash, thanks to the larger-than-life hoops superstar. Capture 15-second videos and instantly share with family and friends. Downside: A Flash player is required to watch videos (sorry, iPad users).

Capture (99 cents): If you have kids and love recording those "first-moments," this app is probably worth considering. Once you install Capture, tap the app, and it starts recording video immediately. Once you're done, the video goes straight to your camera roll. No more missing moments by a split second.

Broadcastr (free): You bring the audio and plot the journey. Broadcastr weaves the story. This new social media platform enables the recording, organizing, listening and sharing of audio content on a map-based interface. Also works as great discovery tool for exploring personal and historical stories in new places. Available for iPhone and Android.

Turntable.fm (free): The service combines music-streaming, chat rooms and voting, all through a Facebook portal. Friends either vote up (awesome) your tunes or they go the other direction (lame). Whether or not you're a big music fan, this product is very hip and very addictive.

Spotify (free/paid): After years of drooling with envy, music fans on the U.S. side of the pond now get a chance to stream with Spotify. The extremely popular music service in Europe finally soft-launched last week in the U.S. For the first time, major record companies in the U.S. have embraced an online music service that lets people play the songs of their choice for free.

Instagr.am (free): The good times just keep on rolling for the social photo sharing service -- after all, how many Web companies can boast more millions of users than individual employees? Five-plus million users and growing for the service, which remains available only for Apple iPhone. Instagram has done for bad cell phone pics what GPS navigation did for confused motorists. If imitation is the greatest form of flattery, the spinoffs and third-party apps are lining up.

Followgram.me (free): This Web app helps offset one of Instagram's primary limitations: no official website for users to log in, view and readily share photos. Followgram creates an Instagram follow button to be embedded on websites and blogs. Followgram also provides its users with a vanity URL, his/her photo gallery, friends, followers and following lists. Moreover, a Followgram user's page is fully customizable.

Webstagram (free): Another simple, aesthetically pleasing Web interface for viewing your Instagram photos as well as your Instagram peeps.

Postagram (99 cents): Makes it easy to send Instagram, Facebook and mobile phone photos as real postcards from your iPhone, iPod touch or Android phone. Imagine that: Photos that you can actually hold in your hands!

Keepsy ($29.99): Not able to view, print and share your Instagram portfolio? Not a problem with Keepsy: customize and order photo albums.

Tumblr iPhone 2.0 (free): The upgrade offers valuable upgrades: There's a new interface, it's easier than ever to create posts, it's much easier to reply to messages, there's address book integration, and now new users can begin building inside the mobile app. Tumblr has begun distancing itself from other micro-blogging publishing sites and now has a mobile experience that matches its Web version.

Klout (free): The days of measuring one's social media reach simply by number of followers, friends or connections is ancient history. Web tools like Klout are starting to measure the influence you have over your digital minions.

Empire Ave (free): It bills itself as the Social Stock Market, where you can grow your social capital online. Here's how it works: You discover people online and then based on scores or share price invest virtual currency in their profiles by buying shares in the Social Stock Market. After a bit, you'll get used to the weirdness of having strangers bid "social shares" on your "social wares." Sounds kooky, but all the cool kids are doing it.

Sonar (free): This app is kind of like a good party host: It introduces you to whoever else is in the room by leveraging what you have in common. Ease of use for navigating who's nearby and how to virtually connect with them makes this location-based app a must-have. Available for the iPhone.

Bizzy (free): A Web and mobile service for personalized local business recommendations. Bizzy recently updated its iPhone and Android apps to introduce a "Check Out" feature. Users can now check out to leave short, emoticon-style reviews of venues on their way out the door. The Bizzy venue checkout is meant to be the opposite of the check-in, which we've seen in a slew of applications, from Foursquare to Facebook Places.

Crowdbeacon (free): Craving the best sushi joint around, and prefer human interaction over indexed user reviews? Crowdbeacon can help. Crowdsourcing your social life, this is a location-based service focused on providing relevant, localized communication and information to users based on what they need and where they are.

Apptitude (free): This is a bit stalkerish, but for those curious about the Facebook apps your friends are using (and when they're using them), check out this iPhone app. Then feel free to razz your friends over how much time they're really spending on Farmville!

Shortmail (free): The Twitter effect. This app doesn't limit your emails to famous 140 characters. Instead, it forces brevity and concise thoughts via 500 characters. Let's face it, who isn't drowning in e-mail overload these days? It's unclear whether Shortmail will catch on ... but we can all dream, right?

Visualize.me (free): Standard formatted resumes just aren't cool anymore. You know what's cool? Infographic resumes. This site provides a creative way of getting your foot in the door at the workplace you so covet. Visualize.me is set to launch later this month to beta invitees, then the public in August.

Gabacus (paid): Navigating the massive Twitter firehouse is nearly impossible without a little help. Gabacus makes sense of the millions of tweets per day by summarizing and curating the topics you're interested in.

Regator (free/paid): Another tool that helps you easily find, read and share high-quality blog posts about things that interest you. It is available on the Web and iPhone. Rather than automatically fetching every blog under the sun, Regator uses qualified human editors to carefully select the most relevant, useful, well-written blogs across 500-plus topics.

Getaround (fees): Isn't it time you took advantage of your ride as it sits in the driveway or parking lot? This mobile app (currently only available in select cities) turns you into Enterprise Rental or Hertz by letting you loan out your car when it's not in use. Renters access your vehicle via an iPhone app after terms are agreed upon.

Do@ (free): Do@ doesn't index pages. Instead, it shows live sites or apps that have been optimized for mobile presentation. It's similar to Google's preview functionality for mobile, but all the pages on do@ are live and not cached.

NASA (free): The NASA app for iPhone and iPad has been around for a couple years, but the Android version just hit the Marketplace. It offers a huge collection of NASA content, including images, videos on demand, NASA TV, mission info and social media extensions. Definitely worth a look for all space nuts!

Twylah (free): Showcase your tweets in a more complete narrative story. Super-easy to use and a much better storefront for your Twitter brand than the somewhat wonky Twitter stream.

SkinScan ($4.99): This app helps you analyze and keep an archive of moles on you or members of your family, for later review and comparison of the results. SkinScan displays several disclaimers that the app is to be used for strictly informational purposes, but it's nonetheless pretty interesting to see how personal tech is impacting everyday health concerns.

Formulists (free): By far the easiest way to create and manage Twitter Lists. This application lets you organize Twitter into smart, auto-updating Twitter lists: filter based on location/bio keywords, Twitter activity and more.

FreeTime (free): Wondering where your day went? FreeTime can help. Using nothing more than the calendar on your smartphone, this productivity app finds time between your events. Powerful filtering allows you to locate your free time in any setting.

Redbox (free): More and more movie watchers are turning to services like Redbox. This simple mobile app helps narrow down where the nearest rental kiosk is located via GPS, find out whether they have your desired flick in stock and if you chose to register, can even reserve the DVD. Don't forget the buttered popcorn.

Appstart (free): Seconds after you've removed your shiny new iPad from the box, this is without a doubt the first app you should download. It's a great starter assistant for finding relevant applications based on your tastes.

Evernote (free/paid): One of the most acclaimed productivity apps around. Evernote boasts a suite of software and services designed for note taking and archiving. A "note" can be a piece of formattable text, a full Web page or an excerpt, a photograph, a voice memo or a handwritten "ink" note. Notes can also have file attachments.

Evernote Peek (free): Flash cards for the digital generation! Peek is the first Smart Cover learning app. Connect Peek to your Evernote account and brush up on a language, make flashcards for a quiz or test yourself based on your Evernote contents.

Photos 3D for FB (free): It's a 3-D photo viewer for Facebook. In this app you can easily browse, comment, share photos and so on. You've never viewed photos like this.

FavFriends (free): Who doesn't need help breaking through the Facebook friend clutter? This service provides real-time notifications when a favorite Facebook friend posts a new status. Also you can sleep better knowing you'll never miss a friend who checked in somewhere when you were nearby at the same time.

Katango (free): Personal crowd control! This messaging app for the iPhone automatically groups together your contacts by life stage or activity. So groupings will include family members, high school friends, college buddies, co-workers and so forth. The application plucks out your address book contacts and Facebook friends and organizes these folks into groups based on patterns of previous social interactions. You can then tweak the groups to your liking and start sending photos or messages to particular groups.

Peel (free): This app is a handy little guide to point TV fanatics in the right direction for what's on the air. New hardware upgrades offer universal remote control option for all of your television/audio home equipment ($99).

Twicsy (free): View top Twitter picture trends and popular pictures. This app is functional and easy to use. It's beginning to stand out in the Twitter photo space.

Pixable (free/paid): It's no secret that photos are by far the most-shared pieces of content of Facebook. To that end, it ain't easy keeping up with the piles of pics. This app for iPhone, iPad and Web pushes the most commented, tagged and shared pics to the top of your radar.

True HDR ($1.99): Create full-resolution HDR (high dynamic range) pictures on your iPhone (4, 3GS), iPod Touch (4G) or iPad (2).

iMotion HD (free/paid): An intuitive and easy to use time-lapse and stop-motion app for iOS devices. Take pictures, edit your movie and export HD 720p videos to your device or directly to YouTube.

iPhone SLR Mount ($249): Size matters! This case-adapter combo lets you mount your Canon EOS or Nikon SLR lenses to your iPhone 4, giving your phone powerful depth of field and manual focus. Telephoto, wide angle, macro or your fixed-50 lenses all attach to this mount, giving you a full range of lenses at your iPhone-lovin' fingertips. (Note: also available for iPhone 3GS for $190)

Piictu (free): Think of this app as a scavenger hunt with cell phone pics. A simple way to talk and play with your friends from your mobile phone using pictures. You simply snap a pic and post it to Piictu and your social networks, and watch it get live picture responses from your friends and community at large.

Flixlab (free): Create professional style movies in seconds with Flixlab, a mobile application available for iPhone, coming soon to Android and Windows Phone 7. Also allow friends to keep the creative fun going with the option to "remix" your movies.


Posted by Joe Anybody at 5:16 AM PDT
Updated: Thursday, 21 July 2011 12:47 PM PDT
Wednesday, 20 July 2011
Liberating America From Wall Street and Big Banks
Mood:  energetic
Now Playing: This sound worthwhile & possible - "Dump Wall Street"
Topic: FAILURE by the GOVERNMENT

Six Ways to Liberate America From Wall Street Rule

by: David Korten, Yes! Magazine | Report

New York Stock Exchange, Wall Street. (Photo: kainet)

How is it that our nation is awash in money, but too broke to provide jobs and services? David Korten introduces a landmark new report, "How to Liberate America from Wall Street Rule."

The dominant story of the current political debate is that the government is broke. We can’t afford to pay for public services, put people to work, or service the public debt. Yet as a nation, we are awash in money. A defective system of money, banking, and finance just puts it in the wrong places.

Raising taxes on the rich and implementing financial reforms are essential elements of the solution to our seemingly intractable fiscal and economic crisis. Yet proposals currently on the table fall far short of the need.

A newly released report of the New Economy Working Group, coordinated by the Institute for Policy Studies in Washington, DC, goes beyond the current debate to call for a deep restructuring of the institutions to which we as a society give the power to create and allocate money. How to Liberate America from Wall Street Rule spells out the steps required to rebuild a system of community-based and accountable institutions devoted to financing productive activities that create good jobs for Americans and generate real community wealth.

Despite the financial crash of 2008, the financial assets of America’s billionaires and the idle cash of the most profitable corporations are now at historic highs. Their biggest challenge is figuring out where to park all their cash.Over the past 30 years, virtually all the benefit of U.S. economic growth has gone to the richest 1 percent of Americans. Effective tax rates for the very rich are at historic lows and many of the most profitable corporations pay no taxes at all.

Corporations are using their stores of cash primarily to buy back their own stock, acquire control of other companies, invest in off-shoring yet more American jobs, and pay generous dividends to shareholders and outsized bonuses to management.Unfortunately, most of those who hold the cash and the corporations they control have lost interest in long-term investments that build and expand strong enterprises. The substantial majority of trades in financial markets are made by high-speed computers in securities held for fractions of a second. Business pundits still refer to this trading as investment. It bears no resemblance, however, to the investment required to put people to work rebuilding a strong America.

Help fight ignorance. Click here for daily Truthout email updates.

It was not always so. In response to the Great Depression, our country enacted financial reforms that put in place a system of money, banking, and investment based on community banks, mutual savings and loans, and credit unions. These institutions provided financial services to local Main Street economies that employed Americans to produce and trade real goods and services in response to community needs and opportunities.

This system, which Wall Street interests dismiss as quaint and antiquated, financed the U.S. victory in World War II, the creation of a strong American middle class, an unprecedented period of economic stability and prosperity, and the investments that made America the world’s undisputed industrial and technological leader.

The consequences include the erosion of the middle class, an extreme concentration of wealth and power, a costly financial collapse, persistent high unemployment, housing foreclosures, collapsing environmental systems, the hollowing out of U.S. industrial, technological, and research capacity, huge public and international trade deficits, and the corruption of our political institutions.In the 1970’s Wall Street interests began pushing a deregulation agenda that led to a transfer of financial power from Main Street to Wall Street. Wall Street’s mega-banks lost interest in real investment and developed a new business model. They now specialize in charging excessive fees and usurious interest rates, providing leverage to speculators, speculating for their own accounts, luring the unwary into mortgages they cannot afford, bundling junk mortgages to sell them as triple-A securities, betting against the clients to whom they sell the overrated securities, extracting subsidies and bailouts from government, laundering money from drug and arms traders, and offshoring their profits to avoid taxes.

Wall Street profited at every step and declared its experiment with deregulation and tax cuts for the wealthy a great success. It now argues for extending the same measures even further.

How to Liberate America from Wall Street Rule spells out details of a six-part policy agenda to rebuild a sensible system of community-based and accountable financial services institutions.

  1. Break up the mega-banks and implement tax and regulatory policies that favor community financial institutions, with a preference for those organized as cooperatives or as for-profits owned by nonprofit foundations.
  2. Establish state-owned partnership banks in each of the 50 states, patterned after the Bank of North Dakota. These would serve as depositories for state financial assets to use in partnership with community financial institutions to fund local farms and businesses.
  3. Restructure the Federal Reserve to function under strict standards of transparency and public scrutiny, with General Accounting Office audits and Congressional oversight.
  4. Direct all new money created by the Federal Reserve to a Federal Recovery and Reconstruction Bank rather than the current practice of directing it as a subsidy to Wall Street banks. The FRRB would have a mandate to fund essential green infrastructure projects as designated by Congress.
  5. Rewrite international trade and investment rules to support national ownership, economic self-reliance, and economic self-determination.
  6. Implement appropriate regulatory and fiscal measures to secure the integrity of financial markets and the money/banking system.

How to Liberate America from Wall Street Rule is the product of extended discussions among representatives of a diverse group of organizations committed to deepening and reframing the conversation on financial reform to focus attention on the serious financial system restructuring required to build a strong new American economy adequate to the social and environmental challenges of the 21st century. It may be freely shared, reproduced and distributed with appropriate citations.

Click here to read the report.


Posted by Joe Anybody at 5:37 PM PDT
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Article printed from www.CommonDreams.org


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