They’re losing their ability to use legal tender. The corporate coercion is, to a degree, now getting rid of cash. Marx never believed that could happen. Why do they want to get rid of cash? They want to drive everybody into an incarcerated penitentiary that is surrounded by mobile payments, credit cards, credit scores, credit ratings, debit cards, constant debt, invasion of privacy, and the ability to assess penalties, charges and unwanted purchases because they control people’s money. That’s Wells Fargo.
Wells Fargo got away with 3 million forced, unknown and unwanted credit card sales, auto insurance sales, repairing their ratings. Some people lost their cars and their homes. They’re flipped over into bankruptcy. Nobody has been prosecuted yet.”
The Visionless Society
“From 2005 to 2014, you had $3.9 trillion of stock buybacks, 50 percent of all corporate net profits,” he said. “Fifty percent of the top 500 corporations profited in that decade with stock buybacks.
Not to better salaries or shoring up pension plans, not to dividends, not to research and development, not to productive capital and job creation. It’s to stock buybacks. The biggest story untold, or minimally told, in the American economy today. With all this
money repatriating from overseas and more corporate offices, they’re planning more stock buybacks. It’s like burning money.”
“Walmart, instead of raising wages for its wage-starved masses, has about $65 billion stock buybacks in the last seven years,” Nader said. “If you take a million Walmart workers and you give them a thousand dollars more a year, that’s $1 billion. Multiply that by 60 to 70 times.”
The speculation, which is trashing the country’s economy, will continue, Nader said,
until the financial system collapses and the U.S. defaults on its bonds.
