Accumulating the largest financial capital in the history of the United States, the financial owners have committed an Act of Violence against their society as their wealth is hidden offshore, while children are starving, lack health care, the fossil fuel industry expands climate change damages to the planet, the military consumption of citizens taxes is out of control and the U.S. legislators have chosen to ignore legislative reforms to correct this criminal toxic financial reality perpetuated by the owners of financial institutions leading to a potentially larger financial crisis than that of 2008.
In 2008, there was a “bail out” process using tax dollars to rescue the bankrupt financial institutions as their complicity in illegal sub-prime financial packaged loans were essentially junk-rated banking instruments. Instead of imposing a penalty on those financial criminals, the United States federal legislature created legislation to allow them to have a “bail-in” process in which the depositors become liable for the illegal action of these new bankrupt financial institutions. This is the Dodd-Frank Act which is altered to protect the banking owners. The economic cancer is now expanding its toxic effects on American citizens.
These financial institutions have created individuals steering a wealth cartel which, instead of assisting the U.S. citizen by correcting the harmful effects of this economic cancer – lack of health care, housing, food and education – have created new prisons (the U.S. has the highest prison population in the world) to respond to criticism of their government. To make things very clear regarding their objectives, they have moved their illicit profits from the illegal packaged loans to off-shore entities in an amount exceeding $2.7 trillion. This protects their assets from future bankruptcy of their financial institutions, and is an Act of Violence against their fellow citizens.
To finance their illegal banking structures, the financial owners have taken over the U.S. election process through the U.S. Supreme Court decision in Citizens United, essentially giving criminal corporations the right to raise campaign funds recognizing them as persons and, therefore, having rights to campaign using unregulated hidden funds to elect legislators who openly support their crimes. This process guarantees their protection against citizens opposing this illegal banking methodology, by electing legislators who are bought to comply with these illegal banking instruments. This Act of Violence against the common citizen openly threatens those who would oppose the U.S. Department of Justice ignoring any prosecution to correct these violations of the laws regarding financial institutional theft of citizen assets. The economic cancer is allowed to grow unabated.
This economic cancer must be treated with a citizens’ action removing the complicity between Wall Street, the U.S. federal government and the U.S. federal legislators. Iceland, when presented with bankers who violated prudent regulations regarding citizen deposits, prosecuted those bankers and the banking institutions were allowed to go bankrupt. Iceland now has one of the strongest economies in the world. The bankers went to jail and the financial institutions were reorganized into a legal compliant part of the Iceland community and government.
International hegemony has been U.S. foreign policy for many decades as financial institutions have used the military to secure sources of raw materials, primarily oil, to support their industrial corporations. This use of foreign policy by force has cost the U.S. taxpayers trillions of dollars of tax revenue to the U.S. federal government. The estimated cost of the illegal invasion of Iraq is exceeding $3 trillion. More trillions were lost to invasions of Afghanistan, incursions in Syria and bombings of Libya to support a U.S. foreign policy of “regime change” to compel new leaders to comply with the U.S. corporate appetite for oil. This Western pattern of hegemony has created the largest “international refugee” migration in the history of the world and there may not be sufficient funds to manage this new human emergency originating from the criminal corporate actions putting profits over human rights.
Political change and a new consciousness within the American citizenry is necessary to establish a foundation for social justice and to cure this economic cancer. The goal is returning fundamental citizen control back to each individual citizen in elections, prosecuting the criminals in charge of financial institutions, and restoring the use of federal tax dollars to cure the national social needs for food, housing, health and education. A socially democratic citizens’ revolution to secure a new and just government and economy is an immediate necessity.
New domestic regulations restoring control of financial institutions is necessary, and the reversal of the Citizen United decision by the U.S. Supreme Court returning constitutional citizen participation in elections is also crucially needed. The control of campaign funding whereby the common citizen influences elections and legitimately elects someone who represents his/her interests will help restore a democratic system that has been hijacked by corporate multinational interests.
Today, the United States has over $17 trillion in national debt directly related to military costs and the unregulated control of corporations that manipulate financial, health and education system costs. In response to the widespread shipping of funds offshore, a “financial user fee” must be imposed on these renegade corporations to return their ill-gotten profits back to the United States to provide for citizen improvements here at home.
The young people of America are the real political future power, and they now have access to a new avenue to address major national issues in the United States. Call it the virtual social revolution, where cloud interconnectedness may be able to reach a majority of citizens who can then issue a call to action for a national vote on a range of social referendums. This will permit a national dialogue on the issue of citizens’ rights – and the creation of a revised Bill of Rights to protect people’s Constitutional rights. A new documented Bill of Human Rights for every citizen will be memorialized into this new constitutional document.
Here are some of the Bill of Rights issues which need to be included in any revision to update the living U.S. Constitution:
1. Economic Bill of Rights
- The U.S. Department of Justice failed American citizens by not prosecuting the financial institutions that created the largest financial crisis in the history of the United States. Reinstate Glass-Steagall to control banks from making risky investments with depositors money and imposing penalties
- Financial institution owners have moved their money, estimated at $2.7 trillion, to offshore tax havens. Require those institutions to retain their personal capital within the borders of the United States, with a financial fee to ensure they pay their fair share.
- Require a minimum wage of $15 for each U.S. worker to secure a livable standard of life providing food, clothing, shelter, health care and education for their families.
- Establish community banks, known as Public Banks, that provide capital to communities without charging interest on social infrastructure projects.