Wall Street has built a Pyramid of Greed. It is upside down with very few people down below supporting the many above them. At Giza the Egyptian architects built a pyramid with all the weight on the bottom supporting a small capstone on the top. That is because they were builders and not Bankers. I wrote 6 Levels Of The American Government. Level F is where people who work and pay taxes are. F literally stands for those who must be Flogged to get them to pay taxes to support those who appointed themselves to rule.
Life is good at the top. The insurance companies passed Obamacare, lowered coverage, raised premiums, raised deductibles and will receive billions in taxpayer subsidies. $2.3 trillion was reported missing from the Pentagon budget on September 10, 2001. Nobody went to jail. Jon Corzine stole $1.2 billion from his customers. But because he was a former Senator and CEO of Goldman Sachs he never was even indicted. The problem with all that corruption at the top is that in a democracy the Uber Crooks will need to bribe some people down below them to vote to elect their puppet politicians. In short they have to share their Loot. Of course Bankers take money by the tens of trillions handing out table scraps in bribes to the voters. And all that loot siphoned off to the men at the top is tax free. This further increases the burden on taxpayers.
There are 47 million people receiving Food Stamps. This program is there to prevent Food Riots which we saw in other countries like Egypt. This program has been cut twice since November of 2013. This at a time when a drought and a shortage of beef and pork will soon be raising food prices dramatically.
There are not many jobs out there so the number of people seeking and receiving Social Security Disability has grown dramatically. There are 11 million receiving Disability from Social Security. There are almost 47 million receiving Social Security. That is a total of 57,978,610. These people did pay in except for some of the foreign born elderly whose children put them on Disability so we could support them.
Social Security has always been a Ponzi scheme designed to sell US Treasury bonds. If we had a non-interest bearing currency like Lincoln’s Greenbacks, there would be no Treasury bonds, no government debt and no interest on the debt. Taxpayers would save over a trillion dollars a year.
The way Social Security really worked was that people paid into Social Security. This money bought Treasury bonds. When people retired, the bonds were redeemed at the Treasury. The Treasury Department flogged the taxpayers to pay for the Treasury bonds Social Security had just turned in. This means that the people paid taxes twice on every dollar of benefits paid out. Once in the form of Social Security taxes to buy the bonds. And then again in Income taxes to redeem the bonds. And there were at one time politicians who were proud of this program.
There are 23,950,000 federal, state and local workers. These people are supported by taxpayers. According to Professor Paul Light of NYU there are 4.4 million federal government contractors and 2.5 million grantees. Wow! That is almost 30 million people working for the government.
So how many people hold non-government jobs and pay taxes to support this government Pyramid?
There are lots of people who do not make much money but do work. In fact there are 51.5 million low wage workers who do not make enough to pay much in income and payroll taxes. In fact low wage workers with children qualify for an Earned Income Tax Credit. Last year 27 million individuals and families received benefits disguised as tax refunds from EITC. The average lump sum refund check was $1,330 which was enough to wipe out most of their meager Social Security and Income tax contributions.
There is a second group of people down there amongst the low wage set. These are the recent college graduates. They make an average of $12.25 an hour after taxes but owe $33,000 in student debt and $3,400 on their credit cards. Clearly, these college grads can’t pay much either. Many of these people have to compete against the one million immigrants a year who receive Greed card work permits.
There is a third group of people working for low wages. People under 55 lost 3.1 million jobs since 2007. People aged 55 to 69 account for 32 million of total jobs. They gained 4.9 million jobs. There are two reasons for job gains when most people aren’t quitting and there is little turn over in employment. One is that the unemployed elderly have had their wages cut down below what they were receiving before they were laid off due to the current Depression. These people have job skills and learned math and English when American schools still taught those subjects.
The fourth group are illegal immigrants. There are anywhere between 22 and 30 million illegal immigrants. These people collect a lot of money in benefits. Many of them work for low wages. When I said 3.1 million Americans under 55 lost jobs, I should have said 4.9 million native born citizens lost jobs. Non-citizens gained 1.8 million jobs while millions of citizens were losing jobs. This is at a time when 4 million Americans turn 18 every year. In the future we are told 40% of all clerical, driving, warehousing and restaurant jobs will be lost to automation.
There does not seem to be many high paying full time jobs left to support that Pyramid of Greed. Remember that 12 million jobs were sent overseas by trade treaties that closed 56,000 manufacturing plants. This destroyed the union movement in America. Now most of these union members are just more government employees.
Wall Street did devise a sneaky program to get foreigners to pay taxes to support their Pyramid of Greed.
At the Bretton Woods Conference in 1944 the Bankers made the US Federal Reserve Note the worlds reserve currency. Since it is an interest bearing currency, anyone in Europe, Asia, Africa, the Mideast or Latin America who holds these US dollars is paying rent to the Federal Reserve to hold and use them. These dollars are also losing value daily. The US stock market is way up since 2001 measured in dollars. But it is down measured against the Swiss Franc and way, way down measured against gold. Of late some overseas holdings of US Treasury Bonds and Federal Reserve Notes have been dumped. One reason China encourages their citizens to buy gold is that they dump dollars with every purchase.
Some people overseas in the past decided they did not want to support this crazy Pyramid of Greed. When Saddam Hussein refused dollars and tried to sell his oil for euros, his country was invaded and more than a million Iraqis were killed. The IRS does not flog foreigners who refuse to pay rent on dollars. That is the job of the US Department of Defense. The same thing happened to Qaddafi in Libya.
Bankers understand money. They can see the nations gathering together around Russia and China to collectively dump the dollar. The Bankers have been preparing for the Day the Dollar Dies by promoting the rise of the National Security State. They have developed a Core list of 8 million Americans to be Disappeared in case of anti-Banker riots. The Bankers have good reason to believe that people will be angry when prices double overnight.
If food prices are doubled that Pyramid of Greed will become highly unstable. Think of it this way: When all those dollars overseas are refused and sent back to America, prices will double overnight and wages will be cut in half. $16.00 an hour is considered an average wage. But, if prices are doubled overnight, that would be cut to $8.00 an hour in current purchasing power.
The Bankers can see this Pyramid is about to collapse and crush the higher wage earners, better paid professionals and small businessmen who are still making money. There are too few people making $50 an hour who could take a 50% pay cut and fewer still who would not get madder than hell. In short the Pyramid’s weight will increase and the number of people making contributions will drop 80%. The Pyramid of Greed is about to collapse.
As I said before, the Bankers plan to release a series of plagues after the Nationwide Food Riots and the Race Wars begin. Killing off 60 million elderly will reduce pension liabilities. Killing off 120 million younger people will raise the wages of the remaining few. This means the survivors will be able to afford to pay all the taxes their Betters think are due to them from those who were born to be flogged.