Our member James Wilson McGillivray, M.D., F.R.C.S.C., F.A.C.S. of Collingwood, Ontario wrote the post below the line.
We welcome your comments.
I can not see accurately into the future, but I can remember that in 2008 the world economy was quite close to destruction, by all accounts. Lehmann Brothers vanished then, after about 150 years since its founding. Perhaps Mr. Dimon does not remember? Bear Sterns also vanished.
The salient point is that the United States Government was the instrument of saving the system and it was J. Dimon who led the bankers group who were begging for the Government to save them. The government was the same government which was described by President Reagan as “the problem and not the solution”.
J. Dimon was personally rewarded with a bonus of $17 million dollars for his trouble at that time. Look that up and weep.
The Government bought billions of worthless bonds from J. Dimon and his friends and accomplices, in order to save them all from bankruptcy and make them very rich again. Maybe the government will do so again and again, to keep saving these bloodsuckers. They own and control the government so they alone know what they will do, if anyone does know.
The point of my regret is that the government should, could, and did create the money that saved the system and allowed J. Dimon and his associates to resume their creation of the money and their domination of the system and the world for their own benefit and the subjection of the workers of the world and the destruction of the environment in which things live. Time will tell whether cockroaches will long survive the unrestrained march of capitalism.
In 2009 and the few years following, the Government created money as it deemed necessary. Estimates range from 3 Trillion to 29 Trillion. The University of Missouri stated 19 Trillion.
If the government of the United States could do this as it did, then why could sovereign governments everywhere not do this as early as 1930 and Save us from the Great Depression, WW2, et cetera.
I guess that it bugs me that almost nobody thinks that this is important enough to do anything about it.
James Wilson McGillivray, M.D., F.R.C.S.C., F.A.C.S.