Banksterism is not capitalism

"And the banks -- hard to believe in a time when we're facing a banking crisis that many of the banks created -- are still the most powerful lobby on Capitol Hill. And they frankly own the place."--Sen. Dick Durbin of Illinois, interview with WJJG's Ray Hanania on Monday, April 27, 2009

What is the mafia don of the banksters, Barack Obama, actually doing?  Here, we must focus on his actions not his smooth rhetoric that has beguiled his followers.  First, he is not practicing capitalism or socialism, but a variant of feudal extra-economic extraction, leveraging fear mongering to redistribute the social output through taxation among his bankster vassals. 

This means the direct economic actors, the banksters and industrialists, have nonmarket access to the means of their reproduction--i.e., the state--and this is why the U.S., is only a quasi-capitalist system.   The state as the repository of organized violence in turn uses its vast resources to squeeze (i.e., economic surplus), extra-economically from the populace through both manufactured terror and taxes.  The banksters in turn supply credit manufactured out of thin air to supplement the populace's inadequate income to stimulate their consumption.   Wages having been manipulated lower through the state's generous tax policies allowing the off shoring of jobs, and import of scabs through H1B visas and the like.  Globalization is nothing more than a euphemism for union busting, and class warfare. Through military means the  U.S. coerces other countries to accept dollars in exchange for their exports to the U.S., as the U.S. wanted to force Saddam Hussein to only accept dollars for Iraq's oil.  Recall that Saddam's real transgression was that he was going to accept Euros for Iraq's oil.   The dollars in turn are created from nothing, the alchemists' dream.  Like feudalism, the U.S. is in truth stealing the labor and resources of other countries by terrorizing them(e.g., threatening regime change) to recycle trade dollars into U.S. Treasury bonds, and holding those notes and bonds as paper I.O.U.'s.

What has happened is that virtuous cycle of imposing the dollar as the reserve currency to steal resources and labor is unraveling like Europe's previous episode with feudal extra-economic extraction of social output.  This is because the United States unlimited printing of dollars, i.e., quantitative easing, will force down the real value of the currency to its true value of zero, like Rome's debasement of their coins.  In turn, countries like China have begun to question this robbery of their labor in return for green paper with portraits of dead presidents on them.  China has exposed the charade by moving to increase their gold reserves by 75 percent, thereby sounding the gong on the true value of the dollar.  By ramping up the printing presses, Obama believes he can steal through inflation what savings remain of the American people to salvage the imagined empire of the country's power elites, the banksters and merchants of death.  But like their statistical models for mortgage backed securities, this plan of Obama's is pure fantasy.  It is not that Obama's socialism will fail, it is because feudalism, extra-economic extraction of social output by the state is a documented loser as a social system.  The Pope of Hope might as well be presiding over the Holy Roman Empire; or to use G.W. Bush's words: "this sucker could go down."  I think it will.

The U.S. really only has one trump card, and that is its military and to emerge from a world war as the top dog, and force others to pay tribute to Washington and its congressional toadies to the  banksters and merchants of death.  Neither Russia nor China envision themselves as vassals like the Europeans and Japanese.  Yet with a hollowed out manufacturing base how will the U.S. pay for the next conflagration?  Wars are instrumental in promoting selfless communism and sacrifice for the state, but the next war will institutionalize socialism as a mind set (i.e. gang loyalty), determining both wages and prices for military output.  Will the direct producers of the surplus then balk?  Not even the German Social Democrats could resist the clarion call of nationalism and World War I.     Undisguised fascism was next, and augurs America's future as well.

Obama presently is just a Crip with a suit and tie on, mopping up the scraps of the GOP Bloods. Let's face the facts. The Weimar Republic's democracy brought Hitler to power. Democracy has not in the past, nor will it in the future be the solution. Obama is testament to that.