The most important viral video of 2010.

[exaltedangel09]

This is front page on HuffingtonPost.
Attention: Everyone needs to see this.
:smart:

A must watch:
Move Your Money: A New Year’s Resolution
http://www.youtube.com/watch?v=Icqrx0OimSs&feature=player_embedded#

JP Morgan/Chase, Citi, Wells Fargo, and Bank of America may be “too big to fail” — but they are not too big to feel the impact of hundreds of thousands of people taking action to change a broken financial and political system. Let them gamble with their own money, not yours. Let’s turn big banks into smaller banks. We’ll all be better off — and safer — as a result.
Full article available at huffingtonpost::
http://www.huffingtonpost.com/arianna-huffington/move-your-money-a-new-yea_b_406022.html

So watch Eugene’s amazing video, then go to http://www.moveyourmoney.info to learn more about how easy it is to move your money. And pass the idea on to your friends (help make this video — and this idea — go viral!).

Make it your New Year’s resolution to move your money. We can’t think of a better way to start 2010.

 

[GladiatorX]

Goldman Sachs is funny;
They get a huge boost from the taxpayers and use it to succesfully trade derivatives... Making tons of money doing so, mostly from the taxpayers.
So basically taxpayers lent money so that the bank could take their money.

 

[exaltedangel09]

Oh my... "JP Morgan's 24,654 investment bankers, including nearly 5,000 employees in London, will get an average of $379,000 each after the financial services group surfed a wave of recovery in global markets to notch up year-end profits of $11.7bn, more than double its earnings of $5.6bn during crisis-stricken 2008".

I think the problem is that a lot of banker types thinks that everyone who criticizes them is a benighted socialist who doesn't understand how the free market can deliver high quality outcomes to the majority, not just a minority. That the market can do this is broadly true, but there is a vast difference between, say, the kind of capitalism that delivered an ever-increasing quality of life to the USA in the post-war period, and the new brand of klepto-capitalism that has come into play since the 80s. The former was the type of which Adam Smith would have approved: businesses large and small competing with each other to deliver goods and services demanded by the market. The latter is mainly about using debt, leverage, skimming and sophisticated (if frequently unproven) risk-hedging products to cream money away from the masses for the least effort. The finance sector has gone far beyond its useful wealth-allocation role and stepped into the areas of self-serving acquisition that reduces the quality of life for others. That's the big difference: it now deals mainly in zero-sum (i.e. win-lose) operations, rather than the win-win operations that ought to be the norm in a properly-functioning market.

We are not idiots, and we don't need to be investment bankers ourselves to know that the finance sector has been rewarded far beyond what has been its contribution to the community in which it operates. Likewise, people such as Paul Volcker, Ron Paul, George Soros, Jim Rogers and Peter Schiff are arch-capitalists, and they have (rightly, in my opinion) lambasted the modern finance sector as being a bunch of parasites who leech off the genuine wealth-creation of others, and whose focus now is mainly on influencing the levers of government power to allow them to continue raking in huge sums while contributing little of use.

 

[chilltrader]

Very interested in doing this.

Can someone send a list of what are considered as "small banks" in the UK please?
Would these be building societies?

 

[sinimini]

Likewise, people such as Paul Volcker, Ron Paul, George Soros, Jim Rogers and Peter Schiff are arch-capitalists.

You cannot put Soros and Rogers in the same sentence as Ron Paul in this context because ultimately they are globalists who want to see a New World Order. Soros talked about this in detail at the last Davos conference, and you always want to be doing the opposite of what Jimmy Rogers is doing, hes always one of the first in and first out by using his high standing to sucker people into trades hes winding down.
Soros is a phoney. Jimmy Rogers wears a bow tie.
Paul ADOLPH Volcker? Are you serious. Arch Capitalist. My god. The guy headed a cartel called the Federal Reserve. He is a Trilateral club founding member, in the Trust Committee of Rockefeller Group and the Bilderberg group like Soros. Volcker will see most of the human population as useless eaters.
And finally Peter Schiff, the man who spotted the collapse before everyone else. Now that he is running for power he is changing his stance on a lot of things, like why America should attack Iran for example, not as pious as he would have us believe.
Ron Paul out of all of them in the quote is the only one whose soul cannot be bought, and more importantly a true believer in free enterprise.

 

[sinimini]

The Fall of the Republic is interesting viewing on this subject. Watch it in HD on youtube.