Capitalism will save this world


Cliffy
#1441
Aw, Wally! Unbridled greed has rotted your soul. I'll pray for you to the gods and goddesses.
 
Cliffy
#1442
 
Twin_Moose
#1443
Lawsuit in U.S. accuses nine banks of rigging Canadian rate benchmark

Quote:

Nine large banks, including six from Canada, have been accused in a lawsuit of conspiring to rig a Canadian rate benchmark to improve profits from derivatives trading.
The complaint, filed by a Colorado pension fund in U.S. District Court in Manhattan late on Friday, accused Royal Bank of Canada (RY.TO), Toronto-Dominion Bank (TD.TO), Bank of Nova Scotia (BNS.TO) and the other banks of suppressing the Canadian Dealer Offered Rate (CDOR) from Aug. 9, 2007, to June 30, 2014.

According to the Fire & Police Pension Association of Colorado, the banks hoped to reduce interest they would owe investors on CDOR-based derivatives transactions in the United States, including swaps and Canadian dollar futures contracts, and generate potentially billions of dollars of improper profit.
The fund is seeking unspecified damages for investors in the proposed class action for alleged violations of U.S. antitrust, commodity and anti-racketeering laws over the nearly seven-year period.
Other defendants include Bank of Montreal (BMO.TO), Canadian Imperial Bank of Commerce (CM.TO), National Bank of Canada (NA.TO), Bank of America Corp (BAC.N), Deutsche Bank AG (DBKGn.DE) and HSBC Holdings Plc (HSBA.L).
Eight of the banks declined to comment on Monday. The ninth, Bank of Montreal, did not respond to requests for comment.
CDOR is a rate at which banks will lend to corporate clients using bankers' acceptances, a short-term credit instrument. It is now known as the Canadian Dollar Offered Rate, and calculated daily by Thomson Reuters based on rate submissions from banks.

Canadian regulators updated the CDOR-setting process after the Investment Industry Regulatory Organization of Canada in January 2013 identified the "potential" for manipulation.
That came after regulators worldwide began accusing, and eventually fined, many banks for manipulating the London Interbank Offered Rate and other benchmarks.

 
Cliffy
#1444
 
Alternative
#1445
Capitalism good as Socialism in this world.
 
Cliffy
+1
#1446
 
petros
#1447
 
Cliffy
#1448
 
DaSleeper
+2
#1449
Can't wean yourself off Heh?



Last edited by DaSleeper; Apr 21st, 2018 at 01:20 PM..
 
OpposingDigit
#1450






Large Image:
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"Capitalism will never fail because socialism will always be there to bail it out."
--Ralph Nader--

"The state of our beloved capitalist system, early 21st century
I pay attention to the fat content of my food, so I was pleased to find a can of Pam canola oil cooking spray that had 0 grams fat per serving. Great, can't do better than zero fat, can you? I used it often for a few months ... until one day I took a closer look at the "Nutrition Facts" ... Yes, it said 0 grams fat per serving. A serving. How big was that? Let's see ... "Serving Size about 1/4 second spray" ... Hmmm, how does one press down on a button for 1/4 second? Is it humanly possible? Even the manufacturer had to say "about". I had been taken. My hat is off to you Capitalist Robber Barons — You're good!"
--William Blum, September 01, 2011--
http://killinghope.org/bblum6/aer97.html

".... The most repeated Cold War anti-Communist myth was of course Nikita Khrushchev’s much quoted – No, eternally quoted! – line: “We will bury you.” On November 20 1956 the New York Times had reported: “In commenting on coexistence last night Mr. Khrushchev said communism did not have to resort to war to defeat capitalism. “Whether you like it or not, history is on our side,” he said. “We will bury you.”
Obviously, it was not a military threat of any kind. But tell that to the countless individuals who have cited it as such forever.
So, as matters turned out, did communism, or call it socialism, bury capitalism? No. But not for the reason the capitalists would like to think – their superior socio-economic system. Capitalism remains the world’s pre-eminent system primarily because of military power combined with CIA covert actions. It’s that combination that irredeemably crippled socialist forces in Vietnam, Cambodia, Laos, Philippines, Guatemala, Haiti, Ecuador, the Congo, Brazil, Dominican Republic, Chile, Angola, Grenada, Nicaragua, Bulgaria, Albania, Afghanistan, Yugoslavia, El Salvador, etc., etc., etc.
We’ll never know what kind of societies would have resulted if these movements had been allowed to develop without US interference; which of course was the idea behind the interference....."

--William Blum, April 18, 2018--
https://williamblum.org/aer/read/157

“The trouble with socialism is that it takes up too many evenings.”
--Oscar Wilde--
https://www.goodreads.com/quotes/749...t-takes-up-too

“Like a cyclone, imperialism spins across the globe; militarism crushes people and sucks the blood like a vampire.”
--Karl Liebknecht--
https://en.wikipedia.org/wiki/Karl_Liebknecht

“In capitalist history, invasion and class struggle are not opposites, as the official legend would have us believe, but one is the means and the expression of the other.”
--Karl Liebknecht--
https://en.wikipedia.org/wiki/Karl_Liebknecht

“You can’t build socialism with dollar signs in your eyes”
--Fidel Castro--

"As demonstrated in Russia and numerous other countries, when faced with a choice between democracy without capitalism or capitalism without democracy, Western elites unhesitatingly embrace the latter."
--Michael Parenti--

"Most of the people in the world today call the name of their dream Socialism."
--Michael Harrington, 1968--
http://en.wikipedia.org/wiki/Michael_Harrington

"In every country in the world a huge tribe of party-hacks and sleek little professors are busy 'proving' that Socialism means no more than a planned state-capitalism with the grab-motive left intact. But fortunately there also exists a vision of Socialism quite different from this. The thing that attracts ordinary men to Socialism and makes them willing to risk their skins for it, the 'mystique' of Socialism, is the idea of equality; to the vast majority of people Socialism means a classless society, or it means nothing."
--George Orwell, Homage to Catalonia, London 1938, p.104--

"Most of the people in the world today call the name of their dream Socialism."
--Michael Harrington, 1968--
http://en.wikipedia.org/wiki/Michael_Harrington

'When I give money to the poor, they call
me a saint. When I ask "why are they poor?" they call me a communist.'

--Archbishop Oscar Romero--

"Class is a dirty word in that it gets close to the truth about who governs and for whose benefit."
--Michael Parenti-Class Is A Dirty Word, Jason Miller, Interview, December 26, 2008
http://www.dissidentvoice.org/2008/1...-word%e2%80%9d

“One evening an old Cherokee told his grandson about a battle that goes on inside people.
He said, 'My son, the battle is bet ween two wolves inside us all. One is Evil. It is anger, envy, jealousy, sorrow, regret, greed, arrogance, self-pity, guilt, resentment, inferiority, lies, false pride, superiority, and ego.
The other is Good. It is joy, peace, love, hope, serenity, humility, kindness, benevolence, empathy, generosity, truth, compassion, and faith.'
The grandson thought about it for a minute and then asked his grandfather: 'Which wolf wins?'
The old Cherokee simply replied, ‘The one you feed.’”

--The Rev. Kealahou C. Alika, Keawala‘i Congregational Church, United Church of Christ (USA), January 20, 2008--
Keawala'i Congregational Church, Kahu's Mana'o

Capitalism without losses is like religion without hell.
Capitalism is the theory that the worst people, acting from their worst motives, will somehow produce the most good.

--William Blum, October 01, 2008--
http://members.aol.com/bblum6/aer62.htm

Psychopathic Traits And The Behavior Of Corporations:
-- Callous unconcern for the feelings for others
-- Incapacity to maintain enduring relationships
-- Reckless disregard for the safety of others
-- Deceitfulness: repeated lying and conning others for profit
-- Incapacity to experience guilt
-- Failure to conform to social norms with respect to lawful behavior

--Psychologist Dr. Robert Hare--
http://en.wikipedia.org/wiki/Robert_Hare_(psychologist)

That G-Damned Marxist John Adams
Such is the frailty of the human heart that very few men who have no property have any judgment of their own. They talk and vote as they are directed by some man of property who has attached their minds to his interest.
-- [P]ower always follows property. This I believe to be as infallible a maxim in politics, as that action and reaction are equal is in mechanics. Nay, I believe we may advance one step farther, and affirm that the balance of power in a society accompanies the balance of property in land. The only possible way, then, of preserving the balance of power on the side of equal liberty and public virtue is to make the acquisition of land easy to every member of society; to make a division of the land into small quantities, so that the multitude may be possessed of landed estates. If the multitude is possessed of the balance of real estate, the multitude will have the balance of power, and in that case the multitude will take care of the liberty, virtue, and interest of the multitude in all acts of government.
http://www.britannica.com/presidents/article-9116850

Socialism
"social and economic doctrine that calls for public rather than private ownership or control of property and natural resources. According to the socialist view, individuals do not live or work in isolation but live in cooperation with one another. Furthermore, everything that people produce is in some sense a social product, and everyone who contributes to the production of a good is entitled to a share in it. Society as a whole, therefore, should own or at least control property for the benefit of all its members."
--Encyclopedia Britannica--

Why socialism?
"The profit motive, in conjunction with competition among capitalists, is responsible for an instability in the accumulation and utilization of capital which leads to increasingly severe depressions. Unlimited competition leads to a huge waste of labor, and to that crippling of the social consciousness of individuals which I mentioned before.
This crippling of individuals I consider the worst evil of capitalism. Our whole educational system suffers from this evil. An exaggerated competitive attitude is inculcated into the student, who is trained to worship acquisitive success as a preparation for his future career.
I am convinced there is only one way to eliminate these grave evils, namely through the establishment of a socialist economy, accompanied by an educational system which would be oriented toward social goals. In such an economy, the means of production are owned by society itself and are utilized in a planned fashion. A planned economy, which adjusts production to the needs of the community, would distribute the work to be done among all those able to work and would guarantee a livelihood to every man, woman, and child. The education of the individual, in addition to promoting his own innate abilities, would attempt to develop in him a sense of responsibility for his fellow men in place of the glorification of power and success in our present society."
By Albert Einstein
May 1949
http://www.monthlyreview.org/598einst.htm

History of socialism
"The history of socialism finds its origins in the French Revolution of 1789 and the changes brought about by the Industrial Revolution, although it has precedents in earlier movements and ideas. Like the concept of capitalism, it embraces a wide range of views.
The term 'socialism' is variously attributed to Pierre Leroux in 1834, who called socialism "the doctrine which would not give up any of the principles of Liberty, Equality, Fraternity" of the French Revolution of 1789 or to Marie Roch Louis Reybaud in France, or else in England to Robert Owen, who is considered the father of the cooperative movement.
Most socialists of that period opposed the dislocations brought by the Industrial Revolution. They criticized what they conceived to be the injustice, inequalities and suffering which the Industrial Revolution brought into being and the laissez faire free market on which it rested."
http://en.wikipedia.org/wiki/History_of_socialism

Socialists
"Socialists mainly share the belief that capitalism unfairly concentrates power and wealth into a small section of society who control capital, and creates an unequal society. All socialists advocate the creation of an egalitarian society, in which wealth and power are distributed more evenly, although there is considerable disagreement among socialists over how, and to what extent this could be achieved.
Socialism is not a discrete philosophy of fixed doctrine and program; its branches advocate a degree of social interventionism and economic rationalization, sometimes opposing each other. Another dividing feature of the socialist movement is the split on how a socialist economy should be established between the reformists and the revolutionaries. Some socialists advocate complete nationalization of the means of production, distribution, and exchange; while others advocate state control of capital within the framework of a market economy. Social democrats propose selective nationalization of key national industries in mixed economies combined with tax-funded welfare programs; Libertarian socialism (which includes Socialist Anarchism and Libertarian Marxism) rejects state control and ownership of the economy altogether and advocates direct collective ownership of the means of production via co-operative workers' councils and workplace democracy."
http://en.wikipedia.org/wiki/Socialists

The Soviet Union Versus Socialism
When the world's two great propaganda systems agree on some doctrine, it requires some intellectual effort to escape its shackles. One such doctrine is that the society created by Lenin and Trotsky and molded further by Stalin and his successors has some relation to socialism in some meaningful or historically accurate sense of this concept. In fact, if there is a relation, it is the relation of contradiction.
It is clear enough why both major propaganda systems insist upon this fantasy. Since its origins, the Soviet State has attempted to harness the energies of its own population and oppressed people elsewhere in the service of the men who took advantage of the popular ferment in Russia in 1917 to seize State power. One major ideological weapon employed to this end has been the claim that the State managers are leading their own society and the world towards the socialist ideal; an impossibility, as any socialist -- surely any serious Marxist -- should have understood at once (many did), and a lie of mammoth proportions as history has revealed since the earliest days of the Bolshevik regime. The taskmasters have attempted to gain legitimacy and support by exploiting the aura of socialist ideals and the respect that is rightly accorded them, to conceal their own ritual practice as they destroyed every vestige of socialism.
As for the world's second major propaganda system, association of socialism with the Soviet Union and its clients serves as a powerful ideological weapon to enforce conformity and obedience to the State capitalist institutions, to ensure that the necessity to rent oneself to the owners and managers of these institutions will be regarded as virtually a natural law, the only alternative to the 'socialist' dungeon.
The Soviet leadership thus portrays itself as socialist to protect its right to wield the club, and Western ideologists adopt the same pretense in order to forestall the threat of a more free and just society. This joint attack on socialism has been highly effective in undermining it in the modern period.
By Noam Chomsky
1986
http://www.chomsky.info/articles/1986----.htm

New Democratic Party
The NDP grew from populist, agrarian and democratic socialist roots. While the party is secular and pluralistic, it has a longstanding relationship with the Christian left and the Social Gospel movement, particularly the United Church of Canada. However, the federal party has broadened to include concerns of the New Left, which advocates issues such as gay rights, peace, and environmental protection.
New Democrats today advocate, among other things:
-- Sweeping environmental protection
-- National water safety standards
-- Increasing corporate taxes
-- Reducing poverty in Canada
-- Human rights protection
-- Expanded high-quality public transportation
-- Public health care including expanded dental and prescription drug coverage,
-- Progressive taxation reform
-- Social assistance policies that reflects citizens' needs and assists their re-entry to the work force
-- Gender equality and equal rights for gays, lesbians, and minorities
-- Reform the un-elected Senate and ensure more proportional representation
-- Workers' rights including raising the minimum wage to at least keep up with the cost of living
-- Aboriginal treaty, land, and constitutional rights
-- Balanced budgets
http://en.wikipedia.org/wiki/New_Democratic_Party

There are only three licenced Credit Rating Companies in the U.S..
There are only three "Privately Owned" Commercial Rating Corporations which are licenced to "rate" and/or to distribute government bonds.
When the President spends a trillion dollars, it is only these three companies who are licenced to distribute the money.
No government bond is issued without these three companies approving it and getting their usuary/management fees.
No competition allowed in this type of work.
Hundreds of other companies have asked the SEC to be licenced and the SEC refused.
A monoply.
Check-Out who owns these three rating agencies
http://en.wikipedia.org/wiki/Credit_rating_agency

Economic calculation problem
From Wikipedia
http://en.wikipedia.org/wiki/Economi...lation_problem

Kett's Rebellion
Kett's Rebellion was a revolt in Norfolk, England during the reign of Edward VI, largely in response to the enclosure of land. It began at Wymondham on 8 July 1549 with a group of rebels destroying fences that had been put up by wealthy landowners.
From Wikipedia
https://en.wikipedia.org/wiki/Kett%27s_Rebellion
https://www.counterpunch.org/2017/10...etts-rebellion
 
taxslave
+2
#1451
Socialism is great, until the people paying all the bills run out of money.
 
captain morgan
+1
#1452
How come no socialists, communists or otherwise aren't here defending the merits of their wondrous systems?
 
Danbones
#1453
They are too busy looking guilty.


(Ooooh Sh!t! that was the one that laid the golden eggs...)


Quote: Originally Posted by taxslave View Post

Socialism is great, until the people paying all the bills run out of money.

Yes, it's called bleeding out.
 
Cliffy
#1454
 
DaSleeper
#1455
Sooo predictable with your Fakebook memes.....lacking diversity in your life huh?

The pseudo-profound nonsense you get on facebook is just that...............Nonsense!!!
 
Cliffy
#1456
Goldman Sachs: Curing Cancer is ‘NOT a Sustainable Business Model’

One of the largest banks in the world, Goldman Sachs, has declared that curing patients of cancer, and other terminal illnesses, is not a “sustainable business model.”
The global investment firm also urged investors to resist financing pioneering “gene therapy” treatments as developing cures is bad for business “in the long-term.”
Goldman Sachs advises investors against funding cures

Goldman Sachs sent the “advice” to their clients and investors in an April 10 report.
Entitled “The Genome Revolution,” the world’s 5th largest bank asks: “Is curing patients a sustainable business model?”
Analyst Salveen Richter wrote in the note that long-term treatments garner far more revenue than “one-shot cures,” saying:
“The potential to deliver ‘one-shot cures’ is one of the most attractive aspects of gene therapy, genetically-engineered cell therapy, and gene editing.
“However, such treatments offer a very different outlook with regard to recurring revenue versus chronic therapies.
“While this proposition carries tremendous value for patients and society, it could represent a challenge for genome medicine developers looking for sustained cash flow.”

Goldman Sachs: Curing Cancer is 'NOT a Sustainable Business Model'

 
pgs
#1457
Quote: Originally Posted by Cliffy View Post

Goldman Sachs: Curing Cancer is ‘NOT a Sustainable Business Model’

One of the largest banks in the world, Goldman Sachs, has declared that curing patients of cancer, and other terminal illnesses, is not a “sustainable business model.”
The global investment firm also urged investors to resist financing pioneering “gene therapy” treatments as developing cures is bad for business “in the long-term.”
Goldman Sachs advises investors against funding cures

Goldman Sachs sent the “advice” to their clients and investors in an April 10 report.
Entitled “The Genome Revolution,” the world’s 5th largest bank asks: “Is curing patients a sustainable business model?”
Analyst Salveen Richter wrote in the note that long-term treatments garner far more revenue than “one-shot cures,” saying:

“The potential to deliver ‘one-shot cures’ is one of the most attractive aspects of gene therapy, genetically-engineered cell therapy, and gene editing.
“However, such treatments offer a very different outlook with regard to recurring revenue versus chronic therapies.
“While this proposition carries tremendous value for patients and society, it could represent a challenge for genome medicine developers looking for sustained cash flow.”

Goldman Sachs: Curing Cancer is 'NOT a Sustainable Business Model'

I would think you don’t own any shares .
 
Walter
#1458
Quote: Originally Posted by Cliffy View Post

Goldman Sachs: Curing Cancer is ‘NOT a Sustainable Business Model’

One of the largest banks in the world, Goldman Sachs, has declared that curing patients of cancer, and other terminal illnesses, is not a “sustainable business model.”
The global investment firm also urged investors to resist financing pioneering “gene therapy” treatments as developing cures is bad for business “in the long-term.”
Goldman Sachs advises investors against funding cures

Goldman Sachs sent the “advice” to their clients and investors in an April 10 report.
Entitled “The Genome Revolution,” the world’s 5th largest bank asks: “Is curing patients a sustainable business model?”
Analyst Salveen Richter wrote in the note that long-term treatments garner far more revenue than “one-shot cures,” saying:

“The potential to deliver ‘one-shot cures’ is one of the most attractive aspects of gene therapy, genetically-engineered cell therapy, and gene editing.
“However, such treatments offer a very different outlook with regard to recurring revenue versus chronic therapies.
“While this proposition carries tremendous value for patients and society, it could represent a challenge for genome medicine developers looking for sustained cash flow.”

Goldman Sachs: Curing Cancer is 'NOT a Sustainable Business Model'

Woked? The epitome of Fake News.
 
Cliffy
-1
#1459
 
Walter
#1460
Facts don’t care about yer feel8ngs.
 
taxslave
+2
#1461
Only thing that has kept you alive this long is benevolent capitalism.
 
pgs
+1
#1462
Quote: Originally Posted by Cliffy View Post

The yellow brick road . Any trees left alive in your neck of the woods Cliffy ? Are they all gone yet ?
 
Cliffy
#1463
 
taxslave
#1464
Quote: Originally Posted by Cliffy View Post

Goldman Sachs: Curing Cancer is ‘NOT a Sustainable Business Model’
One of the largest banks in the world, Goldman Sachs, has declared that curing patients of cancer, and other terminal illnesses, is not a “sustainable business model.”
The global investment firm also urged investors to resist financing pioneering “gene therapy” treatments as developing cures is bad for business “in the long-term.”
Goldman Sachs advises investors against funding cures
Goldman Sachs sent the “advice” to their clients and investors in an April 10 report.
Entitled “The Genome Revolution,” the world’s 5th largest bank asks: “Is curing patients a sustainable business model?”
Analyst Salveen Richter wrote in the note that long-term treatments garner far more revenue than “one-shot cures,” saying:

“The potential to deliver ‘one-shot cures’ is one of the most attractive aspects of gene therapy, genetically-engineered cell therapy, and gene editing.
“However, such treatments offer a very different outlook with regard to recurring revenue versus chronic therapies.
“While this proposition carries tremendous value for patients and society, it could represent a challenge for genome medicine developers looking for sustained cash flow.”
Goldman Sachs: Curing Cancer is 'NOT a Sustainable Business Model'

I can't believe they just figured out what Big Pharma has known since they accidentally cured polio.
 
Cliffy
-1
#1465
 
petros
+2
#1466
Quote: Originally Posted by Cliffy View Post

Why are you on welfare?
 
Cliffy
#1467
 
Cliffy
+1
#1468
 
Walter
+1
#1469
Quote: Originally Posted by Cliffy View Post

Do you Love is a cave or do you live is a building made from natural resources changed into useful products by capitalism?
 
Cliffy
-1
#1470
I live in a house because capitalism won't let me live where and how I would prefer to. Capitalism is a pox on the world.
 

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