Surviving Capitalism (Not) : High Frequency Terrorism: How the Big Banks and Federal Reserve Maintained Their Death Grip Over the United States

We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore Lappé, excerpt from Time for Progressives to Grow Up

Tuesday, May 11, 2010

High Frequency Terrorism: How the Big Banks and Federal Reserve Maintained Their Death Grip Over the United States

by David DeGraw & Max Keiser at Amped Status.

This is part 3 of 6 (a link to all parts are in the article), but I found it to be the most interesting, and their explanation for the sudden dramatic drops in the stock market very plausible. I think that they have constructed a very good case for the stranglehold of the US economy and society by the financial elites.

At the end of the article they provide links to a website devoted to solutions which I feel are only an attempt to reform the capitalist system. Their solutions may provide some short term relief, and as such I would not oppose them. However, I believe the system itself is totally incompatible with ecological limits and social justice, and thus I feel that it must be fundamentally changed.