A SIMPLE DOCUMENT

The simple document below contains 1,333 words that changed the world. It is a succinct document that does not try to obscure, confuse or mislead anyone. In comparison, the Obamacare Bill (never read by any member of Congress) and subsequent regulations, that are now being implemented to improve your lives, is 2,800 pages long and contains 2,163,744 words. Obamacare is 1,623 times longer than the Declaration of Independence. The U.S. Constitution only contained 4,400 words. The King James version of the Holy Bible contains 830,314 words. What does this tell you? That Obama is wiser than God?

It harkens to a quote from Tacitus about the Roman Empire:

“The more corrupt the state, the more numerous the laws.”

This isn’t the only example of a government out of control and failing to act in the best interests of its citizens. The Glass Steagall Act was 37 pages long and effectively kept bankers from destroying the world for 60 years. Within 15 years of its repeal, the bankers had pillaged and raped the citizens of the world and destroyed our economic system. The toothless Dodd-Frank Bill, written by Wall Street, contains 2,319 pages. Has it stopped Corzine and Jaime Dimon from raping farmers and losing billions gambling with other people’s money? No.

Tacitus was right. Our entire STATE is corrupt. And when you read the first few paragraphs of Thomas Jefferson’s succinct and clearly written document, you realize what will be necessary. Our current government has become destructive to the majority of the people in this country.

“Whenever any Form of Government becomes destructive of these Ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such Principles, and organizing its Powers in such Form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established, should not be changed for light and transient Causes; and accordingly all Experience hath shewn, that Mankind are more disposed to suffer, while Evils are sufferable, than to right themselves by abolishing the Forms to which they are accustomed. But when a long Train of Abuses and Usurpations, pursuing invariably the same Object, evinces a Design to reduce them under absolute Despotism, it is their Right, it is their Duty, to throw off such Government, and to provide new Guards for their future Security.”

Anyone with their eyes open and capable of critical thought can see that we are descending into absolute despotism, with a small group of oligarchs controlling our lives and dictating what we can and cannot do. It will be impossible to change the system from inside. These oligarchs are too powerful and have written the laws and regulations in a way to insure their continued control and wealth. It is the duty of every citizen of good conscience to resist this tyranny and throw this government into the ashcan of history. A new American Revolution is necessary. A new Declaration of Independence will be written. This Fourth Turning will sweep away the existing entrenched social order. The next fifteen years will again change the course of world history. The linear thinkers don’t see it coming. They will be crushed by the onslaught of real change. Our destiny awaits.

 

DECLARATION OF INDEPENDENCE 

In CONGRESS, July 4, 1776

The unanimous Declaration of the Thirteen United States of AMERICA.

WHEN, in the Course of human Events, it becomes necessary for one People to dissolve the Political Bands which have connected them with another; and to assume, among the Powers Of The Earth, the separate and equal Station to which the Laws of Nature and of Nature’s God entitle them, a decent respect to the Opinions of Mankind requires that they should declare the Causes which impel them to the Separation.

We hold these Truths to be self-evident, that all Men are created equal, that they are endowed by their CREATOR with certain unalienable Rights, that among these are Life, Liberty and the Pursuit of Happiness. — That to secure these Rights, Governments are instituted among Men, deriving their just Powers from the Consent of the Governed, that whenever any Form of Government becomes destructive of these Ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such Principles, and organizing its Powers in such Form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established, should not be changed for light and transient Causes; and accordingly all Experience hath shewn, that Mankind are more disposed to suffer, while Evils are sufferable, than to right themselves by abolishing the Forms to which they are accustomed. But when a long Train of Abuses and Usurpations, pursuing invariably the same Object, evinces a Design to reduce them under absolute Despotism, it is their Right, it is their Duty, to throw off such Government, and to provide new Guards for their future Security. Such has been the patient Sufferance of these Colonies; and such is now the necessity which constrains them to alter their former Systems of Government. The History of the present King of Great-Britain is a History of repeated Injuries and Usurpations, all having in direct Object the Establishment of an absolute Tyranny over these States. To prove this, let Facts be submitted to a candid world.

HE has refused his Assent to Laws, the most wholesome and necessary for the public Good.

HE has forbidden his Governors to pass Laws of immediate and pressing Importance, unless suspended in their Operation till his Assent should be obtained; and when so suspended, he has utterly neglected to attend to them.

HE has refused to pass other Laws for the Accommodation of large Districts of People, unless those People would relinquish the Right of Representation in the Legislature, a Right inestimable to them and formidable to Tyranny only.

HE has called together Legislative Bodies at Places unusual, uncomfortable, and distant from the Depository of their public Records, for the sole Purpose of fatiguing them into Compliance with his Measures.

HE has dissolved Representative Houses repeatedly, for opposing with manly Firmness his Invasions on the Rights of the people.

HE has refused for a long Time, after such Dissolutions, to cause others to be elected, whereby the Legislative Powers, Incapable of Annihilation, have returned to the People at large for their exercise; the State remaining, in the mean Time, exposed to all the Dangers of Invasion from without, and Convulsions within.

HE has endeavoured to prevent the Population of these States; for that Purpose obstructing the Laws for Naturalization of Foreigners; refusing to pass others to encourage their Migrations hither, and raising the Conditions of new Appropriations of Lands.

HE has obstructed the Administration of Justice, by refusing his Assent to Laws for establishing Judiciary Powers.

HE has made Judges dependent on his Will alone, for the Tenure of their Offices, and the Amount and Payment of their Salaries.

HE has erected a Multitude of new Offices, and sent hither Swarms of Officers to harass our People, and eat out their Substance.

HE has kept among us, in times of Peace, Standing Armies, without the Consent of our Legislatures.

HE has affected to render the Military independent of and superior to the Civil Power.

HE has combined with others to subject us to a Jurisdiction foreign to our Constitution, and unacknowledged by our laws; giving his Assent to their Acts of pretended Legislation:

FOR quartering large Bodies of Armed Troops among us:

FOR protecting them, by a mock Trial, from Punishment for any Murders which they should commit on the Inhabitants of these States:

FOR cutting off our Trade with all Parts of the World:

FOR imposing Taxes on us without our Consent:

FOR depriving us in many Cases, of the Benefits of Trial by Jury:

FOR transporting us beyond Seas to be tried for pretended Offences:

FOR abolishing the free System of English Laws in a neighbouring Province, establishing therein an arbitrary Government, and enlarging its Boundaries, so as to render it at once an Example and fit Instrument for introducing the same absolute Rule into these Colonies:

FOR taking away our Charters, abolishing our most valuable Laws, and altering fundamentally the Forms of our Governments:

FOR suspending our own Legislatures, and declaring themselves invested with Power to legislate for us in all Cases whatsoever.

HE has abdicated Government here, by declaring us out of his Protection, and waging War against us.

HE has plundered our Seas, ravaged our Coasts, burnt our Towns, and destroyed the Lives of our People.

HE is, at this Time, transporting large Armies of foreign Mercenaries to complete the Works of Death, Desolation, and Tyranny, already begun with Circumstances of Cruelty and Perfidy, scarcely paralleled in the most barbarous Ages, and totally unworthy the Head of a civilized Nation.

HE has constrained our fellow Citizens, taken Captive on the high Seas, to bear Arms against their Country, to become the Executioners of their Friends and Brethren, or to fall themselves by their Hands.

HE has excited domestic Insurrections amongst us, and has endeavoured to bring on the Inhabitants of our Frontiers, the merciless Indian Savages, whose known Rule of Warfare, is an undistinguished Destruction of all Ages, Sexes and Conditions.

IN every Stage of these Oppressions we have Petitioned for Redress in the most humble Terms: Our repeated Petitions have been answered only by repeated Injury. A Prince, whose Character is thus marked by every Act which may define a Tyrant, is unfit to be the Ruler of a free People.

NOR have we been wanting in Attentions to our British Brethren. We have warned them, from Time to Time, of Attempts by their Legislature to extend an unwarrantable Jurisdiction over us. We have reminded them of the Circumstances of our Emigration and Settlement here. We have appealed to their native Justice and Magnanimity, and we have conjured them by the Ties of our common Kindred to disavow these Usurpations, which would inevitably interrupt our Connexions and Correspondence. They too have been deaf to the Voice of Justice and of Consanguinity. We must, therefore, acquiesce in the Necessity, which denounces our Separation, and hold them, as we hold the Rest of Mankind, Enemies in War, in Peace Friends.

WE, therefore, the Representatives of the UNITED STATES OF AMERICA, in GENERAL CONGRESS, Assembled, appealing to the Supreme Judge of the World for the Rectitude of our Intentions, do, in the Name, and by Authority of the good People of these Colonies, solemnly Publish and Declare, That these United Colonies are, and of Right ought to be,FREE AND INDEPENDENT STATES; that they are absolved from all Allegiance to the British Crown, and that all political Connexion between them and the State of Great-Britain, is, and ought to be, totally dissolved; and that as FREE AND INDEPENDENT STATES, they have full Power to levy War, conclude Peace, contract Alliances, establish Commerce, and to do all other Acts and Things which INDEPENDENT STATES may of Right do. And for the Support of this Declaration, with a firm Reliance on the Protection of DIVINE PROVIDENCE, we mutually pledge to each other our Lives, our Fortunes, and our sacred Honour.

JAMIE DIMON – SMARTEST GUY ON WALL STREET?

Nope. It’s now up to $9 billion of shareholder money lost by Jamie Dimon on one freaking trade. ONE FREAKING DERIVATIVES TRADE!!!!

Dimon is the superstar of Wall Street. He is Obama’s best buddy. Once Corzine got caught fucking his shareholders and depositors, Dimon went to the head of the list for next Treasury Secretary. Based on his recent performance he would make a perfect Treasury Secretary. We lose $9 billion dollars every three days. It took him a few weeks. Now for the best part. Check out JP Morgan’s total derivatives exposure. It is $10 trillion more than WORLD GDP. It is more than 4 times the U.S. GDP. This is one freaking bank!!!!

These parasitic bankers are going to blow up the entire world and we sit idly by watching it happen and doing nothing to prosecute or rein in these criminals. How can the JP Morgan Board of Directors allow this shithead to destroy their company and the world economy. It’s because these Boards are nothing but cronies of the CEO who are part of the criminal conspiracy.

When these derivatives bets start going bad across the board (because all the Wall Street banks are lemmings and make the same exact trades) we will again be subject to the fear mongering politicians screaming that we must save the economic system before its too late and bail these fuckers out again. When will it stop?

 

Latest Press: JPMorgan Loss As Large As $9 Billion

Tyler Durden's picture

Submitted by Tyler Durdenon 06/28/2012 07:38 -0400

We have long said that the maximum potential loss of the JPM CIO trade based on the blow out in IG9 10 year (and associated trades complex), which has about a $200 million DV01, is far beyond not only the $2 billion that Jamie Dimon estimated on May 10, but above our own estimate which was $5 billion on that same day. Today, the NYT “according to people who have been briefed on the situation” which translated means just more media propaganda because all the news on the topic in the past month has been leaks by axed parties, says that ‘Losses on JPMorgan Chase’s bungled trade could total as much as $9 billion, far exceeding earlier public estimates, according to people who have been briefed on the situation.” Also according to the NYT, and roundly refuting what the other leak had told Bloomberg and other media outlets, “The bank’s exit from its money-losing trade is happening faster than many expected. JPMorgan previously said it hoped to clear its position by early next year; now it is already out of more than half of the trade and may be completely free this year.” Obviously, this refutes media “reports” also based on “people familiar” or “conflicted sources” that JPM has unwound its trade, either by novating, or by transferring it over to helpful hedge funds. Bottom line: take everything with a grain of salt until Dimon himself gives an update in two weeks, as this could easily be an upper bound loss estimate starwman to set expectations very low, sending the stock soaring when the “final” announce loss comes in at ~$5 billion, courtesy of other well-known “masking” techniques such as loan loss reserve release and DVA benefits.

More:

As JPMorgan has moved rapidly to unwind the position — its most volatile assets in particular — internal models at the bank have recently projected losses of as much as $9 billion. In April, the bank generated an internal report that showed that the losses, assuming worst-case conditions, could reach $8 billion to $9 billion, according to a person who reviewed the report.

 

With much of the most volatile slice of the position sold, however, regulators are unsure how deep the reported losses will eventually be. Some expect that the red ink will not exceed $6 billion to $7 billion.

 

Nonetheless, the sharply higher loss totals will feed a debate over how strictly large financial institutions should be regulated and whether some of the behemoth banks are capitalizing on their status as too big to fail to make risky trades.

 

JPMorgan plans to disclose part of the total losses on the soured bet on July 13, when it reports second-quarter earnings. Despite the loss, the bank has said it will be solidly profitable for the quarter — no small achievement given that nervous markets and weak economies have sapped Wall Street’s main businesses. To put the size of the loss in perspective, JPMorgan logged a first-quarter profit of $5.4 billion.

 

More than profits are at stake. The growing fallout from the bank’s bad bet threatens to undercut the credibility of Mr. Dimon, who has been fighting major regulatory changes that could curtail the kind of risk-taking that led to the trading losses. The bank chief was considered a deft manager of risk after steering JPMorgan through the financial crisis in far better shape than its rivals.

 

“Essentially, JPMorgan has been operating a hedge fund with federal insured deposits within a bank,” said Mark Williams, a professor of finance at Boston University, who also served as a Federal Reserve bank examiner.

 

A spokesman for the bank declined to comment.

In other words: the world’s largest prop trading deks, with a $200 million DV01, as Zero Hedge readers have now known for just under two months.

IT’S A BIG CLUB & YOU AIN’T IN IT

 

Jamie Dimon JP Morgan Chase CEO Jamie Dimon (L) and Goldman Sachs CEO Lloyd Blankfein leave the White House after they and 13 other bank heads met with President Barack Obama March 27, 2009 in Washington, DC. Obama used the meeting to tell the bankers that they must look beyond short-term interests toward obligations each person has in order to make it through the current economic troubles.  (Photo by Chip Somodevilla/Getty Images) *** Local Caption *** Jamie Dimon;Lloyd Blankfein

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Robert Rubin Chuck Prince (L), former chairman of the board and CEO at Citigroup Inc. and Robert Rubin, former chairman of the Executive Committee of the Board of Directors at Citigroup Inc., are sworn in before testifying before the Financial Crisis Inquiry Commission on Capitol Hill April 8, 2010 in Washington, DC. The inquiry commission is investigating the causes, including subprime lending, that lead to the global financial collapse that began in the fall of 2008.

 

There’s a reason that education sucks, and it’s the same reason it will never ever ever be fixed. It’s never going to get any better, don’t look for it. Be happy with what you’ve got. Because the owners of this country don’t want that. I’m talking about the real owners now, the big, wealthy, business interests that control all things and make the big decisions.

Forget the politicians, they’re irrelevant.

Politicians are put there to give you that idea that you have freedom of choice. You don’t. You have no choice. You have owners. They own you. They own everything. They own all the important land, they own and control the corporations, and they’ve long since bought and paid for the Senate, the Congress, the State Houses, and the City Halls. They’ve got the judges in their back pockets. And they own all the big media companies so they control just about all the news and information you get to hear.

They’ve got you by the balls.

They spend billions of dollars every year lobbying to get what they want. Well, we know what they want; they want more for themselves and less for everybody else. But I’ll tell you what they don’t want—they don’t want a population of citizens capable of critical thinking. They don’t want well informed, well educated people capable of critical thinking. They’re not interested in that. That doesn’t help them. That’s against their interest. You know something, they don’t want people that are smart enough to sit around their kitchen table and figure out how badly they’re getting fucked by a system that threw them overboard 30 fucking years ago.

They don’t want that, you know what they want?

They want obedient workers, obedient workers. People who are just smart enough to run the machines and do the paperwork and just dumb enough to passively accept all these increasingly shittier jobs with the lower pay, the longer hours, the reduced benefits, the end of overtime and the vanishing pension that disappears the minute you go to collect it.

And now they’re coming for your social security money.

They want your fucking retirement money; they want it back so they can give it to their criminal friends on Wall Street. And you know something? They’ll get it. They’ll get it all from you sooner or later because they own this fucking place. It’s a big club and you ain’t in it! You and I are not in the Big Club. By the way, it’s the same big club they use to beat you in the head with all day long when they tell you what to believe. All day long beating you over the head with their media telling you what to believe, what to believe, what to think and what to buy.

The table is tilted folks, the game is rigged.

Nobody seems to notice, nobody seems to care. Good honest hard working people, white collar, blue collar, it doesn’t matter what color shirt you have on. Good honest hard working people continue, these are people of modest means, continue to elect these rich cocksuckers who don’t give a fuck about them. They don’t give a fuck about you. They don’t give a fuck about…give a fuck about you! They don’t care about you at all, at all, at all.

And nobody seems to notice, nobody seems to care.

That’s what the owners count on, the fact that Americans are and will probably remain willfully ignorant of the big red, white, and blue dick that’s being jammed up their assholes everyday. Because the owners of this country know the truth, it’s called the American Dream, because you have to be asleep to believe it.

George Carlin



AIN’T NO REST FOR THE WICKED