Bill is caught carrying a pencil. IF he had a piece of paper, he could sketch a diagram for a bomb. IF he made that bomb, he could blow up a nursery school. IF the school was blown up, then many would die. Thus, carrying a pencil could be considered part of a plan to kill people. No matter that any conditional statement is false when the premise if not true, this sort of illogic permeates most law suits and the minds of millions of strange critters we call Americans. Think about it.
Due to the lack of the proper resin, one cannot whip up a batch of napalm in his kitchen. However, there are many recipes using other material for thickening of gasoline, from egg whites and soap to polystyrene coffee cups. Now some of the recipes in a well known "survivor manual" are quite good while others are useless. Thus we have, and it's true for all books, there is something useful mixed in with the not so useful. So it is with people of different political persuasions. This is why I listened to Hymie and his LaRouche sales pitch. Keep in mind that LaRouchites are cultists and their god is Lyndon. Thus they become participants in the parroting business while claiming free thought and free speech. While a student in Chicago, Jerry and I would attend any and all political group meetings which offered refreshments. This was one way of cutting expenses and it was very enlightening and often quite entertaining.
Hymie carried a large notebook which he quickly thumbed to outline the economic plan which will save the world from the eminent world-wide "crash". This crash he personally guaranteed would happen before November 2002. My memory recalled another LaRouchite saying the same thing in 1986.
The first drawing showed a network of lines covering Europe, Asia and Africa. The lines depicted the location of "magnetically levitated" railways where people would travel 700 MPH en route to here and there, in complete safety and comfort. This was all part of the "Eurasian land bridge" where the wealth of Europe would be shipped to the starving hordes in the auslands, and also allowing those in Asia and Africa to more easily migrate to Europe. In conjunction with this project would be the construction of hundreds of atomic power plants throughout the Sahara Desert. He then flipped to the design of the train's power plant. A "flux mover" would be driven by a piston and regulated by valves. He failed to mention any connection to the electricity being generated by his imaginary checkerboard of reactors nor did he give me a chance to question his Rube Goldberg machine.
Although drawing upon nothing from experience, he tried to convince me that LaRouche's pan was the ONLY plan which would save mankind from extinction. I disagreed at one point and he became upset and told me I was dead wrong. "I see," said I, "if I do not agree with you then is is I who am wrong." "That's right," he replied. Now that I established that he was a bigot, the lecture continued and I established a few axioms, if I may be permitted the liberty to call them such.
(1) Biology has nothing to do with human performance. We are not animals.
(2) The starving Africans must be fed. We are obligated to do so since we are all of "human kind".
(3) Africans are starving because they have no food and they have no food because they have not been educated properly in the area of food production.
(4) As technology increases, the means of food production will become more efficient and cheaper.
(5) Each person is "in the image of God" and increases in population will only make the planet more "God like."
(6) When the earth becomes full of people, technology will allow us to build a mirror belt around Mars which would heat that planet melting the presumed underground ice packs. With water and electrical power from the solar cell belt, oxygen will be created for a breathable environment. As Mars is turned into another planet earth, our excess population will migrate there.
(7) The reason Europe was the birthplace of technology is because the Arabs taught the European how to think properly.
(8) There is no difference in the "potential" of any human being. The reason some appear to invent more than others, is because they were taught the "discovery process." Leonardo da Vinci "just happened" to be man brought up in optimal conditions for we are all Leonardos under the skin.
(9) IQ tests reveal nothing about intelligence but only show the effects of one's environment. A low IQ number indicates that those persons are in need of better living conditions.
(10) The population of the earth will "self regulate" because "everyone knows" that as income rises, the birthrate decreases.
(11) Rote learning is useless as all much discover basics by themselves. Addition, for example, must not be taught as some mechanical process, insteaad, students should be encouraged to discover the process all by themselves.
It goes on and on, absurdity after absurdity, contradiction after contradiction. As we were by that time seated in a restaurant, I asked myself why I bothered listening to such foolishness. The answer is that through all of the crap, there were some gems. One of them was a list of data on the increasing number of unemployed and the loss of anything useful being produced in this country. We are in "the information age" where everyone is exchanging gossip and no one is growing the potatoes or manufacturing tools. Yet, the financial support for LaRouche's world wide economic tyranny is supposed to come from the Americans. We are to give away that which we no longer have.
One of the more interesting facets of belief is the LaRouche notion that our senses give us a false impression of reality. Only a "higher consciousness" connects us with reality. Animals, we are told, do not have the faculty for higher consciousness and therefore cannot experience reality. All of this reminds me of another loser, Timothy O'Leary.
"Segev does not mince words. He rejects oil-strategy explanations and in the very beginning of his book, he affirms: England did it (issued the 'Balfour Declaraton' in 1917 concerning a future Zionist State) because its rulers "certainly believed in great power of the World Jewry to influence world events, whether in the US or in revolutionary Russia. British government had come to conclusion that it is worth their while to conquer Palestine, to suppress its people and to give it to Zionists in order to curry favour with the World Jewry."
This, like everything else in Mr. Shamir's essay, is a simple statement of historical fact. Another fact is that the British Empire didn't put its FWATKWP (First War to Kill White People) campaign from Egypt to Palestine into high gear until 1917 following the Balfour Declaration. Except for the expectation of significant international Jewish support this Palestinian campaign made absolutely no sense in the context of 1917 for the Allies. The Year 1917 was their worst year of the war yet. Russia was clearly dropping out and thus freeing huge numbers of German troops for service on the Western Front soon. The Palestinian Campaign of 1917 was actually a foolhardy diversion of military resources unless the British Government expected benefits outweighing the costs.
I do think Mr. Shamir omits or underestimates the key role of Big Jews in actually precipitating FWATKWP itself. The British Government's Balfour Declaration was of course addressed and delivered to a specific Jew, that Jew being Lord Rothschild. Other Big Jews were important intermediaries in the failed diplomacy that helped precipitate FWATKWP. I especially refer here to Sir Ernest Cassel – the King's 'Court Jew' and First Lord of the Admiralty Winston S. Churchill's money-master - and Herr von Ballin, the Kaiser's 'Court Jew'.
THERE IS NO REASON TO SUPPRESS A VIEWPOINT UNLESS IT IS TRUE, because a false viewpoint can easily be combated with facts and logic, while truth cannot be combated except by lies which are vulnerable to refutation.
Or to put it another way, the 'racist' view HAS to be suppressed, because if it weren't, MOST PEOPLE WOULD BECOME 'RACISTS'!
Of course, this could be extended to include the Holohoax in all its 666 varieties. Also add National Socialism which is never presented as a historical, political topic other than blubbering about "gas chambers", "lamp shades", penis grinders and pedal-driven head-bashing machines.
John's following commentary http://www.thebirdman.org/Index/Lbl/Lbl-VitalFactsYouNeedToKnow.html
only verifies one of Eric's statements – As a population darkens, more and more call themselves White. John should come out of his bat-cave once in a while and he'd find that Blacks are more than 12% and Whites are now less than 50% of the population. If he also believes, like most of the blightwing, that jews are "only 2%" of the population, then I'd like to hear his definition of 'jew'. Moreover, I think John is in error thinking that "facts and logic" ever swayed Joe Sixpack, stopped him from viewing niggerball or humping sheep.
ZOG must suppress the truth for the well being of its serfs. After all, reality probably causes more "mental anguish" than any other single thing. In our "pursuit of happiness", we must ban all negative thoughts from our weak brains.
Well nuttiness never stops in nutty old U.S.A. I saw a brief news discussion on T.V. this evening where the hot air bunch of know-nothings made the stupid comment that Mr. Lindh, the American Taliban, would be tried in accordance with the U.S. Constitution, for the man is a traitor. etc. blah. blah. blah. Since these overpaid freaks know so much about the Constitution why don't they question why the PRESIDENT is vested with the power to make WAR and what portion of the Constitution was changed by Congress, and ratified by the states to permit such authority. As this sick land of ours sinks deeper into it's serious psychotic state of mass delusion and paranoia, it can only get worse until that day when the moment of truth arrives and the abnormal masses follow their sick leaders into an adventurism of evil and cause a major catastrophe in the insane belief that they are doing the Lord's work.
On another matter, I see the Hebrews are all upset because Mr. Ted Turner made some disparaging remarks about the super sacred, holy, kind, benevolent, honest, generous state of Israel. Now it is satisfying when an ill tempered billionaire has had enough of the semites and reacts. No prominent individual can ever make the slightest disparaging remark against semites without calls for apology. However, in Turner's case they want him to resign from his business as co chairman of Time Warner Corp. From what I've seen of Mr. Turner, they are whistling Dixie if they think he is going to kow tow to the silly bastards who want him to resign Actually he has enough power and money to make his enemies damned uncomfortable. Further, he no longer has to put up with Jane Fonda and her liberal views that encouraged him to give a billion dollars to the U.N.
After the hollering subsided, he went back trying to scare the crap out of the listeners by claiming "something big" will happen on the 4th of July. If you remember, this same sort of hooey was broadcast about the Christian holiday Christmas and repeated concerning the Olympic Games in Mormon Town. Jes, it's possible someone just might make the 4th larger than anticipated, but I doubt is very much. If you can understand the way this shindig is being played out, then you won't get bent out of shape. The big T's, whoever they are, know that they cannot whip the decaying American Republic by attrition. They simply do not have the material resources and it is exactly that which they hope to deplete. The big 9-11 shows that they have the will, and the means, to crack America in the nuts. Like the first smack on an unruly kid's behind, one first establishes the possible. Thereafter the kid, and the goyim, pay more attention.
What happens after a threat? The herd goes into panic, shuts things down, and spends millions on preventative "security". All of these costs add further burden to an economy which is going down the tubes anyway. Greed is like a snake which feeds on its own tail.
Many callers berated the American population – meaning everyone but them, of course – because of its lethargy in regard to "terror". I have news. All populations, over all time, pay far more attention to that which affects their immediate lives. All herds behave in this manner. While the cheetah chases one gazelle, the others gawk and go on grazing. No one paid one bit of attention to the real warnings that Genghis and his 300,000 horsemen were on the way to town in order to level it. "God has given man a thousands things to enjoy but man cannot offer one in return. Kill. Kill. Kill." And they did – chickens, cows, men, goats and so on. If it could be killed, it was.
If al-Qaeda were composed of 6,000,000 dedicated souls, with opportunity, they could not possibly create as much property damage, tax-payer cost, and assorted rape, murder and mayhem, as our resident nigger population already has. Our big concern remains the Chinese and Mexican invasions, and subsequent colonization. What the insane ZOG is doing reminds me of the man who left his burning house in order to shoot a few pigeons which crapped on his chimney.
If the ZOG-bush – a ridiculous sort of weed – were really interested in "saving America", it could find plenty to do without ever leaving the country. ZOG wants the destruction of White America and the "terrorist" sideshow is like the magician who waves his left hand so you are distracted from observing what the right hand is doing.
Robertsez – If a person is so stupid he doesn't know what's going on, then how can his execution be considered 'cruel'? Perhaps some day depriving a man of the "right to breed" while in prison will be considered naughty punishment. I support breeding programs for the insane and criminal – an extension of 'welfare' – for new agencies would have to come into existence thus creating "jobs".
"WASHINGTON (AP) – A divided Supreme Court reversed itself Thursday and ruled that executing the mentally retarded is unconstitutionally cruel."
Based upon White man's standards, Blacks are mentally retarded. Based upon standards devised for the mental testing of chimpanzees, Blacks are retarded. Race-mixers take note: Blacks are generally smarter than the goats you also copulate with.
I find it interesting that we can discuss "good" Muslims and "bad" Muslims while during the SWATKWP, no one mentioned "good" Germans or "good" Japanese.
Friends, we need no outside enemies for ZOG itself is providing the means by which it will destroy itself. Stay clear of flying chicken wings. 9-11 only loosened a few more bricks of a collapsing insane regime. I believe that the objective of those who hate us – and that means most of the world – is to deplete our resources. The costs of "homeland security" – which will amount to a diminishing of our liberties with no increase in security – will eventually break the camel's back.
Misplaced trust always results in disaster and this causes many otherwise decent people to hesitate. Some things we hear, like the color of Jim's underclothes, make no difference if we are told truth or not. This is also the root of gossip for it generally is useless information and more than likely, false anyway.
Over the years, the description of the atom has changed. It started out as a theoretically indivisible solid particle and changed to a theoretical entity mostly space. In any event, as new knowledge was considered, the old ideas had to give way. As I have mentioned repeatedly, most of us know very few facts. What we hold to be fact, is held in place by belief. I have never experienced "Africa" therefore I know not of its existence. If you were the only bumpkin wandering this planet, and came across a stone tablet describing Africa, how would you know that the tablet was a true account? You wouldn't, but it might be possible for you to verify it by taking a very long walk. I believe there is an Africa because the written and vocal evidence is not only overwhelming, but very convincing. Yet, I believe because I have faith – not fact!
Somewhere in my childhood I was told that the beautiful young girl of my age was my cousin. We were related. This means that we both had a common ancestor. That common ancestor was a set of grandparents which could not only be produced, but there were enough "paper trails", and words of mouth, to convince us both that we were indeed, related.
A recent TV show mentioned that the horse and the zebra were "cousins". They were related, according to the narrator. What was their common ancestor? No one knows! The (tenuous) THEORY goes that is was some sort of fox-sized critter (Hyracotherium – the 'dawn horse') which resembled a horse, at least, the bones could be imagined as such even though the animal had 4 toes per foot. Where are the records, fossil or clay tablet, which show the line of decent? There are none. Thus, the "proof" of the modern horse being related to the "dawn horse", or to the zebra, is pure, unadulterated wishful-thinking. It's academic hot air and its pursuit keeps a lot of nitwits occupied, thus preventing them from doing more serious mischief elsewhere. Thus, one who believes in the theory of evolution is one who places more faith in the day dreams of others than is warranted by reason or fact.
The religious, also a bunch of people engaged full time in wishful-thinking, tell us that the Black man and the White man have the same ancestors – in agreement with the evolutionists. How those ancestors came into existence, is where they differ.
The LaRoachites (followers of Lyn Marcus) – always sailing with some new hare-brained notion, want us to believe that our senses, smell, touch, hearing, taste, sight, deceive us and prevent us from knowing reality. I would think that someone might ask what the purpose of senses would be if they were not to connect us to reality. If the Roachies are correct, then a deaf, dumb, and blind mute experiences reality better than you or I, and if his body were laced with Novocain, then he'd be thus more advanced in experiencing that reality. If this appears rational to you, then I can understand why you voted for Dubya Bush. None of his senses apparently work and so he is "reality tuned" to an extreme.
The religious, especially those desirous of full collection plates, have a vested interest in labeling everything as an "image of God." I'd suspect that if gophers could find a way to drop shekels in a collection plate, some super-graced spokesman for God would declare men and gophers to be "bros". In this respect, they are no different than the greedy businessmen, or lying politician, who sees a sale or vote, in any critter capable of being trained to conply.
Your senses, if you haven't already damaged them with excessive alcohol, drugs, or Marxist education, will tell you a lot of things. There is no part of a Black man which cannot be differentiated from the corresponding part of a White man. Every sense in your body tells you that they are not us. We have no business in their society and they have no business in ours.
Other than votes and a hypothetical economic value, a sinister force is at work trying to convince all that Blacks are Whites except that they were toasted longer than the mud people. If it were only votes and bucks – apparently the raison d'être for America – then why is there such a great propaganda drive to encourage sex between the races? The reason has nothing to do with Burger King, equal opportunity, the American Dream, voting rights, and so on. As I observe, none of these requires copulation. Blood-mixing is pushed because it is the only way to extinguish the White race – get them to commit racial suicide. The FWATKWP and SWATKWP, were examples of a direct approach. Blood-mixing is more devious. This assault is not confined to North America. The forced – and if you didn't vote for it, then it is forced – injection of Blacks is occurring in ALL White societies. Ever wonder why? Cuo bono?
Note: LaRouche is high on the band wagon pounding that "animals" are of not great importance. Eric suggested that this is necessary in order to uphold his unlimited breeding program for man. As one life form increases, others must decrease. Bangladesh and Calcutta, here we come!
Whites are a people who also place Chinese interests ahead of White interests.
The Mexicans are a people who place Mexican interests ahead of White interests.
Whites are a people who also place Mexican interests ahead of White interests.
Blacks are a people who place Black interests ahead of White interests.
Whites are a people who also place Black interests ahead of White interests.
Is there something wrong with this picture?
As the number of ragheads increase in the Jew Ass Oi Vey, how much longer do you think you will be able to shout, "Kill the ragheads!?" Soon, this will make about as much sense as holding a Custer benefit at a Sioux reunion. If a people ever had its collective head up its ass, it's the American Whites.
ZOG has wimpified and niggerized its White males while it has machoized its Black males. Where do you think it will be able to draft enough manpower to accomplish its never-ending mission of ridding the world of "terrorists"?
Q. What is the difference between a "wind talker" and a "shit talker?"
The ease of communication is inversely proportional to the value of the communication.
Thelma has a new car, lots of spending money and a cottage on Lake Yippee. When I accepted her as a friend, my life was thereby enriched.
Trevor has holes in his pants, the IQ of a prune and a dozen contagious diseases. If I accept him as a friend, then how is my life enriched?
Think about it White man – how is your life enriched by being tolerant of the muds who are taking over your country? Does enrichment mean getting more diseases, increasing crime, spending your tax dollars on people who are "in need", and allowing them the same privileges as those who struggled to build this country? How will your children be enriched by squandering your money on a batch of mongrels incapable of bettering themselves? They flee their lands because they have left it in ruins and are coming here, like locusts, to destroy what our forefathers have created. It's not intentional, but is the nature of the useless.
Mrs. Tolty is an prime example of the brain dead Christian who values the welfare of strangers over that of their own children. She was politically correct and this sort never sacrifice themselves – just others. That's why, after ruining the lands in which they reside, they are the first to abandon ship and flee.
My first year at university had me living in a private home as a boarder along with 2 other students. One time I noticed the Mrs. taking a large pan of baked beans, a small ham and a great looking chocolate cake, out of the kitchen. All thought this was our fare for the day. Oh no. She took this food to the "poor neighbors" down the street who "needed it". On the table where we sat was a loaf of old bread, a small stack of baloney (bologna) and some cold mashed potatoes. Bernie, her husband, looked somewhat disappointed as did larry, Louie, myself and the two children, Don and Liz. This was my first experience with the insane world of the do-gooder who will gladly starve their own children for the sake of those incapable of even feeding themselves. Today, this is the ZOG program world wide. It cannot be stopped because the masses happily join in the suicide song. Mother Nature, who cannot be fooled, will soon bring this insanity to a close – and good riddance even if it means the majority of people have to perish, for it is precisely they who should be rewarded for their folly – not us.
We need no "yes" men. We do not possess the alpha and omega of what is. Use your brain, White man!
My above statements were formed as a result of a rather annoying bit of gibberish emanating from the mouth of the expert mother next door. "Dada, pfft, goo goo, wheee, ho ha, burble durble, kitchy kitchy koo, ye haw, poopy poopy hoo hoo" she yodels while contorting her face into flesh morrors of the sounds she makes. I wonder what the purpose of this is.
A child enters breathing life with an inexperienced brain but nonetheless a fully alert and capable one. There is no distortion to the sound "hello" as it's processed. The child has a built in need to duplicate that sound and it practices, and often the resultant sounds hardly resemble what it it trying to imitate. Sooner or later, that which reaches its ears from its own mouth, can be accepted as a valid imitation of what it recognized long ago coming from the mouth of another. A child is often seen trying to imitate the bark of a dog.
In this innate desire to communicate, why in hell would a child need "goo ga brrrr...ut" as a model sound to try and duplicate? It doesn't.
What I have noticed is that many women are actually trying to imitate their child's noises. Baby goes, "hu.. hegg.. uh." and mommy promptly repeats, "hu.. hegg.. uh." Pray tell, who is the more intelligent?
"Like a dropsical man calling out for water, water, our deluded citizens are clamoring for more banks, more banks. The American mind is now in that state of fever which the world has so often seen in the history of other nations. We are under the bank bubble, as England was under the South Sea bubble, France under the Mississippi bubble, and as every nation is liable to be, under whatever bubble, design, or delusion may puff up in moments when off their guard."
"We are now taught to believe that legerdemain tricks upon paper can produce as solid wealth as hard labor in the earth. It is vain for common sense to urge that nothing can produce nothing; that it is an idle dream to believe in a philosopher's stone which is to turn everything into gold, and to redeem man from the original sentence of his Maker, 'in the sweat of his brow shall he eat his bread.'"
"Not Quixot enough, however, to attempt to reason Bedlam to rights, my anxieties are turned to the most practicable means of withdrawing us from the ruin into which we have run. Two hundred millions of paper in the hands of the people, (and less cannot be from the employment of a banking capital known to exceed one hundred millions,) is a fearful tax to fall at haphazard on their heads. The debt which purchased our independence was but of eighty millions, of which twenty years of taxation had in 1809 paid but the one half. And what have we purchased with this tax of two hundred millions which we are to pay by wholesale but usury, swindling, and new forms of demoralization."
"Revolutionary history has warned us of the probable moment when this baseless trash is to receive its fiat. Whenever so much of the precious metals shall have returned into the circulation as that everyone can get some in exchange for his produce, paper, as in the revolutionary war, it will experience at once an universal rejection. When public opinion changes, it is with the rapidity of thought. Confidence is already on the totter, and every one now handles this paper as if playing at Robin's alive."
"That in the present state of the circulation the bank should resume payments in specie, would require their vaults to be like the widow's cruse. The thing to be aimed at is, that the excesses of their emissions should be withdrawn as gradually, but as speedily, too, as is practicable, without so much alarm as to bring on the crisis dreaded. Some banks are said to be calling in their paper. But ought we to let this depend on their discretion?"
"Is it not the duty of the legislature to avert from their constituents such a catastrophe as the extinguishment of two hundred millions of paper in their hands? The difficulty is indeed great: and the greater, because the patient revolts against all medicine. I am far from presuming to say that any plan can be relied on with certainty, because the bubble may burst from one moment to another; but if it fails, we shall be but where we should have been without any effort to save ourselves."
"Different persons, doubtless, will devise different schemes of relief. One would be to suppress instantly the currency of all paper not issued under the authority of our State or of the General Government; to interdict after a few months the circulation of all bills of five dollars and under: after a few months more, all of ten dollars and under; after other terms, those of twenty, fifty, and so on to one hundred dollars, which last, if any must be left in circulation, should be the lowest denomination. These might be a convenience in mercantile transactions and transmissions, and would be excluded by their size from ordinary circulation."
"But the disease may be too pressing to await such a remedy. With the legislature I cheerfully leave it to apply this medicine, or no medicine at all. I am sure their intentions are faithful; and embarked in the same bottom, I am willing to swim or sink with my fellow citizens. If the latter is their choice, I will go down with them without a murmur. But my exhortation would rather be 'not to give up the ship.'"
Thomas Jefferson to Charles Yancey, January 6, 1816
Does anyone still wonder why the Judeo-Banksters and the Judeo-Marxists so hate this great man?
During the 1985 Zündel trial in Canada, media-certified actual Holohoax eyewitness and "survivor" Arnold Friedman testified he could tell who was being burned in the ovens by the color of the flames which shot out of the cremation chimney. Mr. Friedman told the court that if blue flames shot out of the chimney, it meant a Hungarian jew was being burned. Green flames meant meant that is was a Polish jew, and so on. (The Globe and the Mail, Toronto, January 12, 1985, pp.1 and 2.)
According to the ADL-certified eyewitness and professional Holohoax survivor, St. Filip Muller, in his book "Eyewitness Auschwitz: Three Years in a Gas Chamber" (Stein and Day, New York, 1979, pp.46-47), Nazi doctors cut flesh off the bones of the holy people's legs and tossed the fresh cut flesh into buckets at the crematorium... yet, somehow the flesh was still alive, and as St.. Filip tells us, made the buckets jump around!
Why you young spring chickens aren't having fun with this in your "history" courses, is beyond me.
For more on the hilarious cockamamie verbal gas extermination stories visit – http://www.cwporter.com/
"Lawsuit Targets Apartheid-Era Cos."
"We want reparations from those international companies and banks that profited from the blood and misery of our fathers and mothers and our brothers and sisters. The Petersen family was one of four plaintiffs suing Citigroup, the largest financial institution in the United States, and Swiss banking giants UBS and Credit Suisse."
Just remember, those names are Jacob Schiff Y (great-grandfather of Al Gore's son-in-law), Kuhn Y, Loeb Y and Company, Lazard Freres Y, and Goldman Sachs Y.
The differences between running a 'bank' and running a 'mutual fund' are legal and semantic, not real. Both groups of entities manage flows of 'capital' owned by others. The 'bank' manages 'debt' ('loaned') capital deposited by others while the 'mutual fund' manages 'equity' ('owned') capital deposited by others. Both groups diversify their placements of capital to reduce their risk in case of non-repayment. This similarity is why so many mutual funds like Fidelity offer services like checking accounts and credit cards. Like banks mutual funds also maintain cash reserves to meet average daily share redemptions (which the banks call withdrawals).
The differences are in priority of repayment and also in popularity as a business financing vehicle. 'Debt' gets paid first both because of legal requirements and agreements between borrower and lender. There's a difference in tax treatment, too. 'Interest' earned by 'debt' is tax deductible both as a business expense and as the famous home mortgage deduction. 'Profits' earned on 'equity' are taxed twice. The first time is as a business profit and the second time (in the case of corporations and investment pools) is when a portion is paid out to the shareholders as a 'dividend'. At that point it's taxable as 'unearned income'. Interest can be taxed this way also but only once.
The biggest remaining difference is in how these funds are placed. The greater security of 'debt' compared to 'equity' actually encourages more carelessness and risk on the part of loan portfolio managers (bankers) as compared to equity portfolio managers ('fund managers'). And you thought bankers are MORE risk averse? Just for themselves. Their effect of their activities on society is like giving drunken swabbies unlimited cash when they hit port. Stop believing the Federal Reserve's propaganda. Marginal corporations lose their access to 'equity' financing much sooner in their bankruptcy spiral than they do to 'debt' financing. I'll prove it. What was Enron's last 'deal' before bankruptcy? Did it a) issue more stock or b) take out more loans?
These bank portfolio managers themselves are simultaneously less risk averse in existing enterprises and more risk averse in new ventures. Many peoples' perceptions of overall slowing rates of innovation and technical progress are not imaginary. They are very real and trace directly back to the vast growth of a money-management class that is essentially illiterate technically.
This book came about as part of a delusional effort to gain shekels from the Arabs. The Muslim crowd views Westerners as infidels and only someone blinded by the desire to fill his wallet, would ever undertake such a comical enterprise. ERIC THOMSON was paid to write this book as he was for The Hitler We Loved and Why and China, The Jews and WW III.
Here is an error of Spengler's which probably originates (if Rienzi is correct) in insufficient racial awareness. Industry in South Africa was the result of white management, capital and negro labor at the bottom levels. This same combination was employed in varying degrees in North America. All subsequent experience says that negroes cannot sustain industrialized systems once they assume management control of the organization.
Wages alone do not determine the outcome of either new or matured industrial systems. There has never been, and there will never be, an example of a newly developing industrial economy that is not also shielded from established external competition by protective import tariffs. Even the so-called Asian Tigers enjoyed these protective tariffs during their vital transition years. A large part of the U.S. Civil War was over this question of tariffs. Despite all the focus on 'states rights' the fact remains that had the Confederacy won the result would have been a series of disunited agrarian sovereign states dependent on non-white laborers working for a wealthy elite planter class and largely subject to Brit-ZOG economically. So what's the complaint about everything now if the klansters are correct about Old Dixie? We're returning to this status on a nation-wide basis judging by the export-import trade figures.