The oil industry is, without a doubt, one of the most powerful industries on the entire planet. Their yearly profits exceed that of most small countries, and combined, the five biggest oil companies control more than $100 billion dollars worth of the United States economy every year. On top of those profits, these companies are also enjoying government tax breaks and subsidies that, combined, top $40 billion every year. And they’re using that money to buy politicians, political favors, and lobbyists to make sure that the government will never be able to regulate their industry to help consumers. Mike Papantonio talks about the numerous ways in which big oil has become an almost undefeatable titan with author Antonia Juhasz.
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Just wanted to let you know I enjoyed the interview and found it very informative. Thank you. Hope everyone has a nice weekend and all the fathers’ have a nice Father’s Day on Sunday. I miss my dad.
Love and Blessings
Chrisy
…Now, I know there are movements underway to get health/hellth insurance companies to justify their rates everytime they raise their monthly premiums, but are there any movements to Occupy big oil and try to get them to justify their high gas prices?
Thanks, Mike, Antonia, and Cliff for exposing the big oil shills. Sad people can make more money polluting the planet than they can with helping out in the community, much like how I said earlier on ROFR how people often make more money from dishonest, speculative drivel on Wall Street than hard, honest work on Main Street.
Private Banking vs Public Banking
Private money-supply and banking is the chief–maybe the only–cause of the present and severe wealth and income gap In the USA and world-wide.
In fact, none of the country’s social, educational, infrastructural, health or housing problems will ever be solved until the following situation transpires—–
The government prints and owns certificates of legal tender (of exchange) for use in the people’s commerce. The central government lends to state government banks at a given interest rate. Those banks lend to branches at that interest plus an additional percent amount. They in turn lend to people and businesses at that same interest rate plus an additional percent amount. The income then generated by this interest for the two governments, precludes the need for any taxes. All branches have the same variety of accounts that now exist. The interest rates are adjusted, based on the needs of the governments for the public welfare–minimum safety and security nets, education, health and infrastructure. Interest rates at all levels are determined and coordinated by board members of each bank that are selected through a transparent political/electoral process with term limits.
The central bank prints money (not the present Fed) as is needed for the economy as decided by a board, which members are selected through a transparent political/electoral process with term limits.
The constitution permits money-printing and banking by the federal government. “……… even though paper money is not expressly permitted by the Constitution, it is also not expressly forbidden, and in spite of the extra-constitutional opinions of some of the Framers, the ability to print paper money is a necessary and proper power of the federal government.” Source: http://www.usconstitution.net/constfaq_q154.html
The present, private banking system? No need to nationalize it or stop its existence. Let the private and business customer decide which tender he or she wants to use—the “certificate of exchange” that is printed by the private bank system or the US Government-backed “certificate of exchange.”