Bankers Are Parasites

Some Republicans are labeling the Democratic Party as the party of parasites. This dialogue comes from the Christian-right who failed to identify Jesus as a revolutionary socialist who had come to restore the Jubilee, and return the land to the Poor, land that had been taken from them by parasitical loan sharks connected with the false priesthood that controlled the corrupt temple system. This is my discovery as a Holy Man who has not collected a dime for the truths God bids me to utter. God demands all church property be sold, and monies be given to help people save their homes from Banker Parasites – that the false teachers protect as a professional courtesy. The Catholic church has always upheld the Kings Tax, which is one reason they are against birth control – because every penny and every peasent – counts! Paraisites need fresh Hosts!

Jon the Nazarite

Communism was a public relations gift to the bankers. By diverting the dialogue to “controlled versus free markets” it obscured the bankers’ real intent—to insert debt into every aspect of free markets. The bankers’ overwhelming success however would destroy both the bankers and the free markets on which they preyed.
Parasitoidism is the relationship between a host and parasite where the host is ultimately killed by the parasite. This is what is happening to the US . Once the most powerful and productive economy in the world, the US , indebted by bankers and government spending beyond its ability to repay, is headed towards sovereign bankruptcy.

PARASITE HOST COLLAPSE
When central banking was introduced in England in 1694 and in the US in 1913, it could not have been foreseen that the spread of credit based money would lead to such levels of indebtedness that systemic collapse would be a possibility, let alone occur.
Only time would make that fact apparent and it now appears that sufficient time has passed.
The economist Hyman Minsky described the three sequential steps of debt in capital markets in his Financial Instability Hypothesis.
Three distinct income-debt relations for economic units, which are labeled as hedge, speculative, and Ponzi finance, can be identified. Hedge financing units are those which can fulfill all of their contractual payment obligations by their cash flows: the greater the weight of equity financing in the liability structure, the greater the likelihood that the unit is a hedge financing unit. Speculative finance units are units that can meet their payment commitments on ‘income account’ on their liabilities, even as they cannot repay the principal out of income cash flows. Such units need to ‘roll over’ their liabilities – issue new debt to meet commitments on maturing debt. For Ponzi units , the cash flows from operations are not sufficient to fill either the repayment of principal or the interest on outstanding debts by their cash flows from operations. Such units can sell assets or borrow. Borrowing to pay interest or selling assets to pay interest (and even dividends) on common stocks lowers the equity of a unit, even as it increases liabilities and the prior commitment of future incomes.
It can be shown that if hedge financing dominates, then the economy may well be an equilibrium-seeking and containing system. In contrast, the greater the weight of speculative and Ponzi finance, the greater the likelihood that the economy is a deviation-amplifying system. The first theorem of the financial instability hypothesis is that the economy has financing regimes under which it is stable, and financing regimes in which it is unstable. The second theorem of the financial instability hypothesis is that over periods of prolonged prosperity, the economy transits from financial relations that make for a stable system to financial relations that make for an unstable system.
In particular, over a protracted period of good times, capitalist economies tend to move to a financial structure in which there is a large weight to units engaged in speculative and Ponzi finance. Furthermore, if an economy is in an inflationary state, and the authorities attempt to exorcise inflation by monetary constraint, then speculative units will become Ponzi units and the net worth of previously Ponzi units will quickly evaporate. Consequently, units with cash flow shortfalls will be forced to try to make positions by selling out positions. This is likely to lead to a collapse of asset values.
As the US is now increasingly meeting its debt obligations by rolling over present debt and/or by borrowing, it is now according to Minsky’s model, clearly in the Ponzi finance mode which can precede a collapse of asset values.
According to Minsky, capital markets over time become increasingly unstable. Asset values in real estate are now collapsing, equities will be next, bonds will follow. Almost one hundred years after the Federal Reserve introduced debt-based money to America in 1913, both host and parasite are now approaching the same end, parcus nex , sic economic death.
Not only is the host, the US economy, in imminent danger, so too are the parasites, the banks. Bridgewater Associates, the giant US hedge fund, has warned its clients that current bank losses may reach $1.6 trillion, four times previous estimates.
The implications are discussed by financial journalist Ambrose Evans-Pritchard in The Telegraph.co.uk, July 8, 2008

David Jungerman of Raytown, Missouri has attracted attention for a large sign by the highway calling Democrats the “party of parasites”:

The Kansas City Star reports that Jungerman himself falls into the parasite category:
The Raytown farmer who posted a sign on a semi-truck trailer accusing Democrats of being the “Party of Parasites” received more than $1 million in federal crop subsidies since 1995.
But David Jungerman says the payouts don’t contradict the sign he put up in a corn field in Bates County along U.S. 71 Highway.
“That’s just my money coming back to me,” Jungerman, 72, said Monday. “I pay a lot in taxes. I’m not a parasite.”
Mm-hmm. Subsidized farmers are in a different category than recipients of other forms of subsidies.
It’s impossible to disentangle motives here, but the fact that farmers are overwhelmingly white may be an important factor in many conservative activists seeing farm subsidies as more legitimate than other government interventions. Producerism is historically connected with white supremacy:
Calls to rally the virtuous “producing classes” against evil “parasites” at both the top and bottom of society is a tendency called producerism. It is a conspiracist narrative used by repressive right wing populism. Today we see examples of it in some sectors of the Christian Right, in the Patriot movements and armed militias, and in the Far right…. Producerism is involved in the relationship between Buchanan, Fulani, Perot, and the Reform Party.
Producerism begins in the US with the Jacksonians, who wove together intra-elite factionalism and lower-class Whites’ double-edged resentments. Producerism became a staple of repressive populist ideology.  Producerism sought to rally the middle strata together with certain sections of the elite. Specifically, it championed the so-called producing classes (including White farmers, laborers, artisans, slaveowning planters, and “productive” capitalists) against “unproductive” bankers, speculators, and monopolists above—and people of color below. After the Jacksonian era, producerism was a central tenet of the anti-Chinese crusade in the late nineteenth century. In the 1920s industrial philosophy of Henry Ford, and Father Coughlin’s fascist doctrine in the 1930s, producerism fused with antisemitic attacks against “parasitic” Jews.

‘Rich bankers can today be exposed as a huge drain on society… costing the rest of us £8.40 for every £1 they produce. A study by think-tank the New Economics Foundation found the average banker destroys £42million a year in value while creating just £5million.
Meanwhile hospital cleaners on £6.26 an hour are worth £10 for every £1 they cost because they prevent superbugs, saving the economy a fortune.
The shock figures fly in the face of claims that bankers like Barclays boss Bob Diamond – paid £4.4million in 2010/11 – are worth vast bonuses because of their contribution to the economy. Their drain on the country is caused by the cost of bailing out banks brought to their knees by the credit crunch and the ­devastating impact of the crisis their recklessness caused.’

David Jungerman of Raytown, Missouri has attracted attention for a large sign by the highway calling Democrats the “party of parasites”:

The Kansas City Star reports that Jungerman himself falls into the parasite category:
The Raytown farmer who posted a sign on a semi-truck trailer accusing Democrats of being the “Party of Parasites” received more than $1 million in federal crop subsidies since 1995.
But David Jungerman says the payouts don’t contradict the sign he put up in a corn field in Bates County along U.S. 71 Highway.
“That’s just my money coming back to me,” Jungerman, 72, said Monday. “I pay a lot in taxes. I’m not a parasite.”
Mm-hmm. Subsidized farmers are in a different category than recipients of other forms of subsidies.
It’s impossible to disentangle motives here, but the fact that farmers are overwhelmingly white may be an important factor in many conservative activists seeing farm subsidies as more legitimate than other government interventions. Producerism is historically connected with white supremacy:
Calls to rally the virtuous “producing classes” against evil “parasites” at both the top and bottom of society is a tendency called producerism. It is a conspiracist narrative used by repressive right wing populism. Today we see examples of it in some sectors of the Christian Right, in the Patriot movements and armed militias, and in the Far right…. Producerism is involved in the relationship between Buchanan, Fulani, Perot, and the Reform Party.
Producerism begins in the US with the Jacksonians, who wove together intra-elite factionalism and lower-class Whites’ double-edged resentments. Producerism became a staple of repressive populist ideology.  Producerism sought to rally the middle strata together with certain sections of the elite. Specifically, it championed the so-called producing classes (including White farmers, laborers, artisans, slaveowning planters, and “productive” capitalists) against “unproductive” bankers, speculators, and monopolists above—and people of color below. After the Jacksonian era, producerism was a central tenet of the anti-Chinese crusade in the late nineteenth century. In the 1920s industrial philosophy of Henry Ford, and Father Coughlin’s fascist doctrine in the 1930s, producerism fused with antisemitic attacks against “parasitic” Jews.

About Royal Rosamond Press

I am an artist, a writer, and a theologian.
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