How Wall Street Fleeces America: Privatized Banking, Government Collusion and Class War: Lendman, Stephen: 9780983353942: Amazon.com: Books

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Stephen Lendman

How Wall Street Fleeces America: Privatized Banking, Government Collusion and Class War Paperback – August 7, 2011

by Stephen Lendman (Author)

3.5 13 ratings

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The 1913 Federal Reserve Act let powerful bankers usurp money creation authority in violation of the Constitution's Article I, Section 8, giving only Congress the power to "coin Money (and) regulate the Value thereof...." Thereafter, powerful bankers used their control over money, credit and debt for private self-enrichment, bankrolling and colluding with Congress and administrations to implement laws favoring them. As a result, decades of deregulation, outsourcing, economic financialization, and casino capitalism followed, producing asset bubbles, record budget and national debt levels, and depression-sized unemployment far higher than reported numbers, albeit manipulated to look better. After the financial crisis erupted in late 2007, even harder times have left Main Street in the early stages of a depression, with recovery pure illusion. Today's contagion has spread out of control, globally. Wall Street got trillions of dollars in a desperate attempt to socialize losses, privatize profits, and pump life back into the corpses by blowing public wealth into a moribund financial sector, failing corporate favorites, and America's aristocracy. While Wall Street boasts it has recovered, industrial America keeps imploding. High-paying jobs are exported. Economic prospects are eroding. Austerity is being imposed, with no one sure how to revive stable, sustainable long-term growth. This book provides a powerful tool for showing angry Americans how they've been fleeced, and includes a plan for constructive change.

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Print length

190 pages
Language

English
Publication date

August 7, 2011
Dimensions

6 x 0.43 x 9 inches
ISBN-10

0983353948
ISBN-13

978-0983353942
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Patrick L. Wells
This should be categorized as fiction
Reviewed in the United States on December 9, 2012
Verified Purchase
I began reading Stephen's book with a lot of enthusiasm to try to understand just how rotten to the core our country (the US) was. It was a good read up until I hit the author's rant about how the US military was basically no better than the hoards that terrorized the vast landscape of the Middle East in past conquests. According to Lendman, the military is killing indiscriminately everyone they can, including children, and raping the land of everything that is of any value - all at the behest of the corrupt bankers and corporations of America. This rubbed me the wrong way since I am a retired Army veteran and have seen several tours in Iraq and am currently working as a contractor in Afghanistan. How can I be objective, right? Well, I am and I decided to debate the issue with the author. He replied with wildly exaggerated numbers of casualties in each conflict and only responded with "public record" when asked for his sources.

Apart from that, he does hit hard on the financial and economical topics that are the focus of our Union's current troubled state. I support his call to end the criminally operated Fed. It may be high time for this country to start a new Revolution. To arms!

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8 people found this helpful

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R. A. Barricklow(Scaramouche)
Lendman Disintegrates Powerful Banksters/Wallstreet
Reviewed in the United States on October 27, 2011
Verified Purchase
The struggle of man against power is
the struggle of memory against forgetting.

Lendman's book reminds me of the early American spirit of pamphleteering. This, in the sense, that those writings culminated in the classic 1776 pamplhet: Common Sense by Thomas Paine. Remember that struggle? Benjamin Franlin leaves us his autobiography of the times and in it, he tells us, in no uncertain terms, that/The colonies would gladly have borne the little tax on tea and other matters had not England took away from the colonies their money, which created unemployment and dissatisfaction. The inability of the colonist to get power to issue their own money permanently out of the hands of King George 111 and The INTERNATIONAL BANKERS was the PRIME REASON for the Revolutionary War.
Thomas Jefferson was furious when the U.S. allowed The 1st Bank of The United States(chartered 1791) the power of issuing our own debt by private bankers(our original continental script was massively conterfeited by (bank of) England to worthless paper. Jefferson thought our country may recover the power to issue it's own currency(reason for revolutionary war) when the Bank's charter came up for renewal in 1811. The head of the Bank of Engand warned that the United States would find itself involved in a most disasterous war if the Bank's charter was not renewed. The banks renewal was defeated by one vote in Congress(those were the days!). The War of 1812, was again a currency war, like the American Revolutionary War before.
The struggle of man against power is
the sruggle of memory against forgetting.
Indeed it is a continuous battle. Lincoln tried to get financing for the Civil War from the bankers. The wanted usurious rates around 24% to 36%(Rothschild's hands all over this war). Lincoln basically told them to go to hell. His sentiment's may have cost him his life. International banksters despised him after Congess passed the 1862 Legal Tender Act(those were the days!), empowering the Treasury to issue paper money called greenbacks interest free. The Union won the war. After Lincoln's death, a new banking law was passed. The Greenback law was rescinded, once again requiring the government to pay interest on its own money. It's an outrageous fraud, but it's the law.
The struggle of man against power is
the struggle of memory against forgetting
In 1913 The Fedral Reserve Act was passed giving The International Banksters the power to issue the currency of the United States of America. I'am sure that Benjamin Franklin, Thomas Jefferson, & Abraham Lincoln would have considerred this an act of treason.

Please pick-up Lendman's American Revolutionary Pamphlet/How Wallstreet Fleeces America - Privitized Banking, Government Collution And Class War. Find out what so many have forgotten. Become an American Revolutionary; not only in spirit, but in action.

It is a struggle against power for you & yours -

Forget? ....

Then you & yours don't stand a chance.

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22 people found this helpful

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SAMOTWO1-123
IF YOU DON'T HAVE THIS BOOK
Reviewed in the United States on November 8, 2011
Verified Purchase
YOU ARE IN THE DARK IF YOU DON'T GET THIS BOOK .FOR THE COMMON PERSON WHO DON'T UNDERSTAND WHATS REALLY GOING ON NOW IN THIS WORLD.I FEEL YOU BETTER START PLANING NOW!!IF YOU WANT TOO SURVIVE .THIS BOOK FOAMS A BASIS ON WHY WE HAVE GOTTEN TOO THE POSITION WE ARE TODAY. THIS BOOK HELPS YOU PUT ALL THE DOTS TOGETHER. I AM ON MY SECOND READING OF IT RIGHT NOW.I GUEST I AM A BIG FAN "AYE .WORTH EVERY PENNY .THANK YOU.

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6 people found this helpful

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Terry
Five Stars
Reviewed in the United States on September 29, 2014
Verified Purchase
An excellent expose of Wall Street

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One person found this helpful

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Luc REYNAERT
A money-making legal racket
Reviewed in the United States on January 31, 2013
In this hard-hitting book Stephen Lendman paints a bleak portrait of the US today, while indicating the measures that have to be taken in order to save Main Street and democracy from extinction. His analysis is partly inspired by Ellen Brown's mightily important book `Web of Debt'.

A money-printing monopoly
A Wall-Street headquartered banking cartel controls the nation's money (supply), giving it virtually limitless power. Working together with the (its) government and corporate allies, it controls (rigs) world markets, resources and (cheap) labor in order to maximize profits.
Its power base is the Federal Reserve Board (Fed), controlled by the major shareholders of the big private banks which fully own it. The Fed possesses the sole right in the US to print money out of nothing and loaning it for profit. In the words of the author: it is `the world's greatest ever racket'.
This monopoly is exactly the contrary of the letter and the spirit of Milton Friedman's free market ideology.

Class war (pitting private wealth against public good)
Corporate profits are at record levels, while Main Street remains in depression, ravaged by very high unemployment (more than 20 % of the population), growing poverty, hunger, homelessness, foreclosures and austerity. Unprecedented concentration of wealth is created at the expense of middle class and lower incomes. Moreover, the wealthy are closing the door behind them by making education unaffordable for Main Street.
Actually, the US government is soaking households by attacking Social Security, Medicare and Medicaid with draconian cuts, while eroding constitutional freedoms and waging imperial wars for global dominance.

The future
After a Bubble Maestro, the Fed is governed by a Printing Maestro, who doubled the US money base in 112 days.
This mind-boggling tactic could generate hyperinflation and dramatic interest rate rises, create asset bubbles and, ultimately, debase the dollar heavily.
Instead of economic competition, we could see currency wars all over the place.

What to do?
For Stephen Lendman, the Fed should be abolished or nationalized, giving the money creating power to Congress. A publicly-owned banking system should be created, while big private banks, which are `too big to fail', should be broken up. This is not a pipe dream, for such a system exists already in North Dakota.
Other draconian measures propagated by the author are a 50 % cut of the US defense budget, a Tobin-tax, affordable public education and generous Social Security with a guaranteed living wage. For him, these measures are a minimum in order to save the middle class, which is a buffer against tyranny. If not, the US could become a perfect new version of (the Fall of) the Roman Empire.

This harsh and uncompromising pamphlet is a must read for all those who want to understand the world we live in.

Read more

12 people found this helpful

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Top reviews from other countries

Dragon57
The first chapter is interesting. The second chapter is ...
Reviewed in Canada on February 3, 2016
Verified Purchase
The first chapter is interesting.
The second chapter is a diatribe against Milton Friedman and the Chicago School that somehow equates cronyism, corrupt governments, oppressive religious regimes, and fraud with free markets and capitalism.
It seems to get back on track after that, relating mostly facts without the cheerleading for "social justice".
Unless you have a broad knowledge of world history and various political and economic systems, you could be led to believe that Keynesianism is the cure for all ills and that the USSR was a paradise before the oligarchs messed it up.
Telling both sides of the story, sticking to the facts without the socialist drivel would make this book much more readable.
Beware!

Read more
Report
Luc REYNAERT
A money-making legal racket
Reviewed in the United Kingdom on January 31, 2013
Verified Purchase
In this hard-hitting book Stephen Lendman paints a bleak portrait of the US today, while indicating the measures that have to be taken in order to save Main Street and democracy from extinction. His analysis is partly inspired by Ellen Brown's mightily important book `Web of Debt'.

A money-printing monopoly
A Wall-Street headquartered banking cartel controls the nation's money (supply), giving it virtually limitless power. Working together with the (its) government and corporate allies, it controls (rigs) world markets, resources and (cheap) labor in order to maximize profits.
Its power base is the Federal Reserve Board (Fed), controlled by the major shareholders of the big private banks which fully own it. The Fed possesses the sole right in the US to print money out of nothing and loaning it for profit. In the words of the author: it is `the world's greatest ever racket'.
This monopoly is exactly the contrary of the letter and the spirit of Milton Friedman's free market ideology.

Class war (pitting private wealth against public good)
Corporate profits are at record levels, while Main Street remains in depression, ravaged by very high unemployment (more than 20 % of the population), growing poverty, hunger, homelessness, foreclosures and austerity. Unprecedented concentration of wealth is created at the expense of middle class and lower incomes. Moreover, the wealthy are closing the door behind them by making education unaffordable for Main Street.
Actually, the US government is soaking households by attacking Social Security, Medicare and Medicaid with draconian cuts, while eroding constitutional freedoms and waging imperial wars for global dominance.

The future
After a Bubble Maestro, the Fed is governed by a Printing Maestro, who doubled the US money base in 112 days.
This mind-boggling tactic could generate hyperinflation and dramatic interest rate rises, create asset bubbles and, ultimately, debase the dollar heavily.
Instead of economic competition, we could see currency wars all over the place.

What to do?
For Stephen Lendman, the Fed should be abolished or nationalized, giving the money creating power to Congress. A publicly-owned banking system should be created, while big private banks, which are `too big to fail', should be broken up. This is not a pipe dream, for such a system exists already in North Dakota.
Other draconian measures propagated by the author are a 50 % cut of the US defense budget, a Tobin-tax, affordable public education and generous Social Security with a guaranteed living wage. For him, these measures are a minimum in order to save the middle class, which is a buffer against tyranny. If not, the US could become a perfect new version of (the Fall of) the Roman Empire.

This harsh and uncompromising pamphlet is a must read for all those who want to understand the world we live in.

Read more
Report

See more reviews

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