Free $10 Million Loans For All!

Madoff JokerIf you work on Wall Street it’s time to take Bill’s Hicks’ advice for advertising and marketers … because this will never happen. Sheila Bair writes in the Washington Post:

Are you concerned about growing income inequality in America? Are you resentful of all that wealth concentrated in the 1 percent? I’ve got the perfect solution, a modest proposal that involves just a small adjustment in the Federal Reserve’s easy monetary policy. Best of all, it will mean that none of us have to work for a living anymore.

For several years now, the Fed has been making money available to the financial sector at near-zero interest rates. Big banks and hedge funds, among others, have taken this cheap money and invested it in securities with high yields. This type of profit-making, called the “carry trade,” has been enormously profitable for them.

So why not let everyone participate? Under my plan, each American household could borrow $10 million from the Fed at zero interest. The more conservative among us can take that money and buy 10-year Treasury bonds. At the current 2 percent annual interest rate, we can pocket a nice $200,000 a year to live on. The more adventuresome can buy 10-year Greek debt at 21 percent, for an annual income of $2.1 million. Or if Greece is a little too risky for you, go with Portugal, at about 12 percent, or $1.2 million dollars a year. (No sense in getting greedy.)

Read More: Washington Post

22 Comments on "Free $10 Million Loans For All!"

  1. Elementalove | Apr 23, 2012 at 12:29 pm |

    It’s a trap, Greece is done for, and so is the rest of the economy, by the time you get your 200k it will be worth what 20$ is today. Remember the Zimbabwe dollar? No? Google it. It takes about 10mil dollars to buy a loaf of bread.

  2. it’s done through the complicated means now of only giving big business the money to lend out consumers because the power that be needs to know that interest payment will keep in line, demoralized, head down, and do as they’re told as speaking out protesting is easy if the common people have $10 mil at zero percent interest. or most would just party and not care about anything =p

    • HopeForTheBlurst | Apr 23, 2012 at 4:26 pm |

      Wrong.  Many people would work to create a better humanity if they did not have to pull a 9-5 bullshit corporate wage-slave job just to survive.  THIS is what is holding us back as a species.  Yeah some douchebags would do the non-stop party thing, they are called the 1%… I jest, but that some people would squander their lives if they were granted freedom doesn’t mean we have to all be slaves.

      • Liam_McGonagle | Apr 23, 2012 at 6:48 pm |

        Agree.  And I’d further argue that just having the spare capacity to take experimental head trips would make the world a better place in and of itself.

        It would give us time to developed a more nuanced appreciation of our overall context.  Less dependent on shabby, one dimensional generalizations, and more adroit in navigating complex, multi-valent realities.  Not to speak of the tangible boons to progress in the arts and technology that open-ended inquiry produces.

        I think we kind of fool ourselves when we get on the treadmill and demand an IRR calculation for every waking minute. It incentivises us to inflate the value of trivia.

        • MoralDrift | Apr 24, 2012 at 12:00 am |

          Yeah I completely agree, I think 10 million is of course a bit much, but I have always thought the concept of the guaranteed basic income was a sound way to realize the goal of freeing people from work while also giving those who dont mind devoting some of their time to others profit the incentive to do so. Many people would still want to work, but the vast majority would only accept part-time positions or full-time positions that they thoroughly enjoyed and loved.

  3. Fuck Money | Apr 23, 2012 at 2:11 pm |

    My Father just passed away and during his whole life one of his biggest concerns was always having more money. During the last couple weeks of his life, what was revealed to me was that money is not what is important. 

    Money IS the root of all evil. What has more value than money? Almost everything that is FREE has more value than money does. You can’t eat money, you can’t drink money, money cannot bring you love. So why is money so important? Because it is the means and the way to manipulate the greatest resource in the universe, US, conscious beings. If only people knew the power they hold, this world would be a much better place. 
    The 1% rule us because they have technology. That technology came from conscious beings and not money. They only use money to manipulate us into giving them the things they need and want. With this power they fortify themselves and their interests. Then they create “things” that we all want, but do we really need them? The answer is simple, NO. We need very few things, food, drink, shelter, love, health and action. It’s these few things that should be the focus of society. Not wanting more money, which is only a means to control others. 

    Your smart phone is important to you, why? Because it lets you communicate with others, right? Forget the other stupid shit it does, the main thing EVERYONE uses it for is communication in one form or another. We desire to be with the ones we love and communicate with others because that’s how shit gets done. We are a community, this whole planet is. Whether your rich or poor, your desires are the same and your needs are shared throughout. 

    Remember this: Life is but a breathe and when your time is up the last thing that is going to matter to you is money. Our greatest resources is each other and love is what should drive us, not money.

    • HopeForTheBlurst | Apr 23, 2012 at 4:24 pm |

      Money is nothing more than “valuable symbols”.  What is printed on each bill is nothing more than a symbol – artwork, a different art-piece for each ‘value’.  It is a point system where the system administrators award themselves, families, and friends endless free points and we get 0 to start with and have to compete with our neighbors to win at their hunger game.  The endless propaganda is really all about getting us to crave their valuable symbols, to honor the winning players as righteous unquestioning heroes, and to divide us over bullshit so we are distracted from this issue.  This isn’t simply about rich vs poor, or even about money at all.  It is about privately issued fiat versus sane sound money.  See first part of Money Masters to have it explained.

      The current world order loves their power, but they too know it is ENTIRELY dependent on the mass submission of our imaginations to believe in their system.  Their greatest fear is that we no longer desire their symbols.  *POOF* the power would be gone.

      • Vincent Vega | Apr 24, 2012 at 6:09 am |

         The money masters was very educational. thanks for that.   A search on google and 3 hours of your time is worth it.

    • Reptile Overlord | Apr 23, 2012 at 4:32 pm |

       >The 1% rule us because they have technology

      No, the 1% are in charge of America because over 80% of Americans are too stupid to use a budget and too lazy to balance their checkbooks.

      • MoralDrift | Apr 23, 2012 at 11:55 pm |

        yes because budgets and balanced checkbooks would end the problem of declining and stagnant wages coupled with rising costs. Go fuck yourself buddy

      • umm the mega rich don’t balance their check books either. They don’t even look at the price tags. Everyone balances their check book you moron, everyone has online banking now. If you still are writing you purchases by hand in a “check book”, it explains why you have such lame comments. Still in the stone age when it comes to the most basic accounting services and rather retarded when it comes to everything else.  Fox news is waiting for you. 

    • My condolences on the loss of your Father. I somewhat recently lost a parent and you’re right, it has a way of putting things into perspective.

      While I don’t quite agree with you that money is the root of all Evil I’ll certainly grant you that money is one of Evil’s favorite tools.

      Having a way for people to trade the products of their labor without a “dual coincidence of need” is a very good thing for the general welfare. So, in that sense money is incredibly beneficial. (Ricardo’s Law of Comparative Advantage is fundamental to any working economic system. A working financial currency potentiates Ricardo’s law in an exponential manner.)

      However, fiat currencies and even gold are subject to manipulation by people who are not actually contributing to the general welfare.  By exerting monopoly power over money itself or through schemes that range from pedestrian to grandiose a certain class of people are able to live quite well and accumulate power well out of proportion to either their numbers or their contribution to society.

      I agree that people and relationships are what really matter. 

      The real question I have is, “How do we get back to that?”.

    • Fuck Greed | Apr 23, 2012 at 10:48 pm |

      Money IS the root of all evil.

      Disagree. Money itself is not the root of all evil. The LOVE of money is the root of all evil. In these times, money is a necessity. Someone who has plenty of money will tell you that money doesn’t buy happiness. But happiness doesn’t put food in the mouths of your three hungry children, either, nor does it pay the rent. It’s not the money itself that’s the problem, but greed.

      • Jin The Ninja | Apr 24, 2012 at 12:05 am |

        money is ONLY a necessity in a CAPITALIST world. it only has value because it has (some would say the highest) societal value (the value WE choose to place on it). money doesn’t alleviate poverty (obviously), nor does it buy happiness. Yes, it BUYS things that are considered human rights under the UN charter of human rights, but that says more about how absurd our values are than anything else. I think having money to be able to function in society is a very basic NEED, since the world we live is a capitalist one. But money is the source of a great many evils. if we had a world w/o money, would utopia and logic reign? no, probably not, but you WOULD take a tremendous amount of evil out of the social equation.

  4. Reptile Overlord | Apr 23, 2012 at 4:31 pm |

    >Are you concerned about growing income inequality in America?


    > Are you
    resentful of all that wealth concentrated in the 1 percent?


    Why should I read the remainder of the article?

    • Liam_McGonagle | Apr 23, 2012 at 6:44 pm |

      Yet you seem to care an awful lot what Disinformation’s reader’s think, CerebralCaustic.

      What began as welcome comic relief is beginning to take on overtones of sad desperation.  It’s like you’re flailing so manically to recover the integrity of some hopelessly ruptured personal relationship that you just can’t let any article pass without trying to win our love.

      The fact that nothing you’ve ever written has ever impressed anyone as having the slightest moral weight or demonstrating even a rudamentary knowledge of macroeconomics doesn’t seem to bother you.  In fact, it only seems to stoke your desperation.

      Were you savaged by a pack of innumerate hippies as a child, CerebralCaustic?  Still trying to relieve the moment and salvage some sense of agency from the wreckage?  I get the notion that you suffered some sort of personal violation.  Run-of-the-mill Daddy issues usually don’t run so deep.

      Honestly, I’d be interested in knowing–though just the general outlines.  No identifying specifics, please. 

  5. The author is being facetious
    but it’s actually coming to this.

    As robotic efficiencies increase
    the amount of human labor used decreases.

    Countries like China, with 1.4 billion people
    now pay people to do nothing
    and are trying to make most processes as human intensive as possible,
    so they can pay people to do something.

    The Elites are in a bind
    if they want to continue to squirrel away Monopoly money
    there gonna have to pass some out to the non-elites
    for the non-elites to give them.

    • MoralDrift | Apr 23, 2012 at 11:51 pm |

      Yeah one would suppose…unless the end game really is wiping out most of us useless “consumers”. With increasing automation comes increasing human obsolescence, of course this sidesteps the whole idea that these machines and industries were only created to supposedly serve man. 

      yeah its a little out there…but sometimes when I look at the circumstances…I get the feeling that what is being planned is a controlled massive population reduction coupled with a final push for total full spectrum dominance….

  6. its coming. as much as we are oppressed, the extreme goodness of a few can usually trump the rampant evil in the long run. Enlightened people are quite productive and effective. The industrial slave age is fading out, this is just the jet lag. For now take care of your personal lives as best you can, soon we will feel way more united and happy. 

  7. Wintersahead | Apr 26, 2012 at 12:35 am |

    I really dont give a fuck.

  8. Yeah…way to collapse the economy…Now think, if you didn’t have to work…would you? Within 6 weeks of your plan, every secondary industry professional would have quit, and your country would starve….

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