Later On

A blog written for those whose interests more or less match mine.

Strange charge of anti-Semitism leveled against Donald Trump because he criticized banks

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Pam Martens and Russ Martens report in Wall Street on Parade:

One would have had to have been in a coma for the past eight years not to realize there has been an ongoing Wall Street banking conspiracy in the United States. The Government Accountability Office (GAO) tallied it up and found it amounted to $16 trillion in secret loans from the Federal Reserve – an unfathomable bailout never approved by Congress. On May 20 of last year the U.S. Justice Department documented a vast conspiracy by global banks in the foreign currency markets with the banks admitting to the felony charges. The former heads of Federal regulatory agencies have written books about the conspiracy. Frontline and Sixty Minutes have produced documentaries on it. Banking whistleblowers have organized to fight it in an effort to save the country. A major motion picture, The Big Short, was released this year which put one aspect of the conspiracy into layman’s language and was based on a book by Wall Street veteran, Michael Lewis. Wall Street On Parade has chronicled the ongoing banking conspiracy for the past decade.

But yesterday, after Donald Trump made a reference to a banking conspiracy in his speech in West Palm Beach, Florida, a writer at the New York Times quickly pointed the anti-Semite finger at Trump, quoting Jonathan Greenblatt, CEO of the Anti-Defamation League and others. The Times wrote:

The remarks drew criticism from some who said they resembled prejudicial language used by anti-Semites. ‘Whether intentionally or not, Donald Trump is evoking classic anti-Semitic themes that have historically been used against Jews and still reverberate today,’ Jonathan Greenblatt, the chief executive of the Anti-Defamation League, a group that fights discrimination, said in a statement.

The full transcript of Trump’s speech was made available by Time Magazine. There is only one reference to the words “bank” or “banking.” Trump said the following:

The Clinton machine is at the center of this power structure. We’ve seen this first hand in the WikiLeaks documents, in which Hillary Clinton meets in secret with international banks to plot the destruction of U.S. sovereignty in order to enrich these global financial powers, her special interest friends and her donors.

Most Americans believe, for good reason, that global banks, including those on Wall Street, are actively engaged in a concerted wealth transfer system from the 99 percent to the 1 percent. That America now has the greatest wealth and income inequality since the 1920s further buttresses the wealth transfer reality.

After the financial crash in 2008, the Federal Reserve fought for years in court to avoid providing details of the money it funneled to the global banks during the years of the crisis. When the Fed finally lost the court battle, the Government Accountability Office tallied up the secret Fed loans, all of which had been made at super low, below-market interest rates without any public disclosure. The final tally came to $16.1 trillion in cumulative loans. Yes, we said “trillion.” (See chart below from the GAO report.) . . .

Continue reading.

Unfortunately, I don’t believe that Hillary Clinton (for whom I shall vote) will vigorously support and push banking reform. She has said that the best way to regulate banks is to put bankers in charge of regulation, a strategy followed by President Obama that really has not worked all that well.

Written by LeisureGuy

15 October 2016 at 9:24 am

Posted in Business, Election, GOP, NY Times

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