Bail-In and the Financial Stability Board: The Global Bankers’ Coup, by Ellen Brown

by Ellen Brown
Ellen Brown.com

Thanks to T.

T also suggests for historical perspective: BIG BROTHER IN BASEL: BIS FINANCIAL STABILITY BOARD UNDERMINES NATIONAL SOVEREIGNTY; Ellen Brown, June 22nd, 2009

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fsb

On December 11, 2014, the US House passed a bill repealing the Dodd-Frank requirement that risky derivatives be pushed into big-bank subsidiaries, leaving our deposits and pensions exposed to massive derivatives losses. The bill was vigorously challenged by Senator Elizabeth Warren; but the tide turned when Jamie Dimon, CEO of JPMorganChase, stepped into the ring. Perhaps what prompted his intervention was the unanticipated $40 drop in the price of oil. As financial blogger Michael Snyder points out, that drop could trigger a derivatives payout that could bankrupt the biggest banks. And if the G20’s new “bail-in” rules are formalized, depositors and pensioners could be on the hook.

The new bail-in rules were discussed in my last post here. They are edicts of the Financial Stability Board (FSB), an unelected body of central bankers and finance ministers headquartered in the Bank for International Settlements in Basel, Switzerland. Where did the FSB get these sweeping powers, and is its mandate legally enforceable?

Those questions were addressed in an article I wrote in June 2009, two months after the FSB was formed, titled “Big Brother in Basel: BIS Financial Stability Board Undermines National Sovereignty.” It linked the strange boot shape of the BIS to a line from Orwell’s 1984: “a boot stamping on a human face—forever.” The concerns raised there seem to be materializing, so I’m republishing the bulk of that article here. We need to be paying attention, lest the bail-in juggernaut steamroll over us unchallenged.

The Shadowy Financial Stability Board

Alarm bells went off in April 2009, when the Bank for International Settlements (BIS) was linked to the new Financial Stability Board (FSB) signed onto by the G20 leaders in London. The FSB was an expansion of the older Financial Stability Forum (FSF) set up in 1999 to serve in a merely advisory capacity by the G7 (a group of finance ministers formed from the seven major industrialized nations). The chair of the FSF was theGeneral Manager of the BIS. The new FSB was expanded to include all G20 members (19 nations plus the EU).

Formally called the “Group of Twenty Finance Ministers and Central Bank Governors,” the G20 was, like the G7, originally set up as a forum merely for cooperation and consultation on matters pertaining to the international financial system. What set off alarms was that the new Financial Stability Board had real teeth, imposing “obligations” and “commitments” on its members; and this feat was pulled off without legislative formalities, skirting the usual exacting requirements for treaties. It was all done in hasty response to an “emergency.” Problem-reaction-solution was the slippery slope of coups.

Buried on page 83 of an 89-page Report on Financial Regulatory Reform issued by the US Obama administration was a recommendation that the FSB strengthen and institutionalize its mandate to promote global financial stability. It sounded like a worthy goal, but there was a disturbing lack of detail. What was the FSB’s mandate, what were its expanded powers, and who was in charge? An article in The London Guardianaddressed those issues in question and answer format:

Who runs the regulator? The Financial Stability Forum is chaired by Mario Draghi, governor of the Bank of Italy. The secretariat is based at the Bank for International Settlements’ headquarters in Basel, Switzerland.

Draghi was director general of the Italian treasury from 1991 to 2001, where he was responsible for widespread privatization (sell-off of government holdings to private investors). From 2002 to 2006, he was a partner at Goldman Sachs on Wall Street. He was succeeded in 2011 by Mark Carney, who also got his start at Goldman Sachs, working there for 13 years before going on to become Governor of the Bank of Canada in 2008 and Governor of the Bank of England in 2012. In 2011 and 2012, Carney attended the annual meetings of the controversial Bilderberg Group.

What will the new regulator do? The regulator will monitor potential risks to the economy . . . It will cooperate with the IMF, the Washington-based body that monitors countries’ financial health, lending funds if needed.

The IMF is an international banking organization that is also controversial. Joseph Stiglitz, former chief economist for the World Bank, charged it with ensnaring Third World countries in a debt trap from which they could not escape. Debtors unable to pay were bound by “conditionalities” that included a forced sell-off of national assets to private investors in order to service their loans.

What will the regulator oversee? All ‘systemically important’ financial institutions, instruments and markets.

The term “systemically important” was not defined. Would it include such systemically important institutions as national treasuries, and such systemically important markets as gold, oil and food?

How will it work? The body will establish a supervisory college to monitor each of the largest international financial services firms. . . . It will act as a clearing house for information-sharing and contingency planning for the benefit of its members. 

“Information-sharing” can mean illegal collusion. Would the information-sharing here include such things as secret agreements among central banks to buy or sell particular currencies, with the concomitant power to support or collapse targeted local economies?

What will the new regulator do about debt and loans? To prevent another debt bubble, the new body will recommend financial companies maintain provisions against credit losses and may impose constraints on borrowing.

What sort of constraints? The Basel Accords, imposed by the Basel Committee on Banking Supervision (also housed at the BIS) had not necessarily worked out well. The first Basel Accord, issued in 1998, had been blamed for inducing a recession in Japanfrom which that country had yet to recover; and the Second Basel Accord and its associated mark-to-market rule had been blamed for bringing on the 2008 crisis. (For more on this, see The Public Bank Solution.)

The Amorphous 12 International Standards and Codes

Most troubling, perhaps, was this vague parenthetical reference in a press releaseissued by the BIS, titled “Financial Stability Forum Re-established as the Financial Stability Board”:

As obligations of membership, member countries and territories commit to . . . implement international financial standards (including the 12 key International Standards and Codes) . . . . 

This was not just friendly advice from an advisory board. It was a commitment to comply, so you would expect some detailed discussion concerning what those standards entailed. But a search of the major media revealed virtually nothing. The 12 key International Standards and Codes were left undefined and undiscussed. The FSB website listed them, but it was vague. The Standards and Codes covered broad areas that were apparently subject to modification as the overseeing committees saw fit. They included money and financial policy transparency, fiscal policy transparency, data dissemination, insolvency, corporate governance, accounting, auditing, payment and settlement, market integrity, banking supervision, securities regulation, and insurance supervision.

Take “fiscal policy transparency” as an example. The “Code of Good Practices on Fiscal Transparency” was adopted by the IMF Interim Committee in 1998. The “synoptic description” said:

The code contains transparency requirements to provide assurances to the public and to capital markets that a sufficiently complete picture of the structure and finances of government is available so as to allow the soundness of fiscal policy to be reliably assessed.

Members were required to provide a “picture of the structure and finances of government” that was complete enough for an assessment of its “soundness” — but an assessment by whom, and what if a government failed the test? Was an unelected private committee based in the BIS allowed to evaluate the “structure and function” of particular national governments and, if they were determined to have fiscal policies that were not “sound,” to impose “conditionalities” and “austerity measures” of the sort that the IMF was notorious for imposing on Third World countries? Suspicious observers wondered if that was how once-mighty nations were to be brought under the heel of Big Brother at last.

For three centuries, private international banking interests have brought governments in line by blocking them from issuing their own currencies and requiring them to borrow banker-issued “banknotes” instead. Political colonialism is now a thing of the past, but under the new FSB guidelines, nations could still be held in feudalistic subservience to foreign masters.

Consider this scenario: the new FSB rules precipitate a massive global depression due to contraction of the money supply. XYZ country wakes up to the fact that all of this is unnecessary – that it could be creating its own money, freeing itself from the debt trap, rather than borrowing from bankers who create money on computer screens and charge interest for the privilege of borrowing it. But this realization comes too late: the boot descends and XYZ is crushed into line. National sovereignty has been abdicated to a private committee, with no say by the voters.

Marilyn Barnewall, dubbed by Forbes Magazine the “dean of American private banking,” wrote in an April 2009 article titled “What Happened to American Sovereignty at G-20?”:

It seems the world’s bankers have executed a bloodless coup and now represent all of the people in the world. . . . President Obama agreed at the G20 meeting in London to create an international board with authority to intervene in U.S. corporations by dictating executive compensation and approving or disapproving business management decisions.  Under the new Financial Stability Board, the United States has only one vote. In other words, the group will be largely controlled by European central bankers. My guess is, they will represent themselves, not you and not me and certainly not America.

The Commitments Mandated by the Financial Stability Board Constitute a Commercial Treaty Requiring a Two-thirds Vote of the Senate

Are these commitments legally binding? Adoption of the FSB was never voted on by the public, either individually or through their legislators. The G20 Summit has been called “a New Bretton Woods,” referring to agreements entered into in 1944 establishing new rules for international trade. But Bretton Woods was put in place by Congressional Executive Agreement, requiring a majority vote of the legislature; and it more properlyshould have been done by treaty, requiring a two-thirds vote of the Senate, since it was an international agreement binding on the nation.

“Bail-in” is not the law yet, but the G20 governments will be called upon to adopt the FSB’s resolution measures when the proposal is finalized after taking comments in 2015. The authority of the G20 has been challenged, but mainly over whether important countries were left out of the mix. The omitted countries may prove to be the lucky ones, having avoided the FSB’s net.

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Ellen Brown is an attorney, founder of the Public Banking Institute, and author of twelve books including the best-selling Web of Debt. Her latest book, The Public Bank Solution, explores successful public banking models historically and globally. Her 200+ blog articles are at EllenBrown.com.

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CAFR: Previous Posts on my blog . . . With the threatened loss of our pensions, will people now wake up to this SCAM? ~J

Interview: Game-changing CAFR surplus trillions explained

Posted on February 24, 2014 by Carl Herman Source: Washington’s Blog Is the California CAFR scandal for real? (28-minute interview) Guy Evans of Smells like Human Spirit has interviewed me to walk interested people through the documented objective facts that taxpayers have TRILLIONS of their dollars in surplus … Continue reading

PressTV: Detroit bankruptcy plan cuts pension benefits . . . anybody living in Detroit ever hear about CAFRs? ~J

Some 24,000 retired workers will suffer cuts in pensions and health benefits if the plan proposed by Detroit officials wins approval of the court. Fri Feb 21, 2014 10:30PM GMT Detroit officials are trying hard to restructure the city’s $18-billion … Continue reading

About CAFR: Patricia, a reader, shares that Detroit is not bankrupt! Here’s why:

Detroit is not bankrupt. Here’s why: My sincere thanks to Patricia for the incredible job of getting this information down for us here in the form of some great college-style notes ~J. I have typed up a almost complete transcript for … Continue reading

“The Biggest Game InTown” about the Government CAFR wealth shell game – again thanks to TS.

This fellow lays out very clearly how the government’s accounting robs us blind! ~J

Had enough ‘Big Lie’ crimes from US leaders to demand arrests, or do you need even more death, debt, lies?

June 22, 2014 by Carl Herman WashingtonsBlog US and developed nations’ escalate “Big Lie” crimes in Earth’s tragic-comedy, centered in: Unlawful and lie-began war (here, here, here, here), So-called money (actually bank-created debt; here, here, here), and “Crime-coverage” by corporate media. The solutions are pretty obvious: Stop the war-murders and arrest … Continue reading

2014 Worldwide Wave of Action: Learn 3 economic reforms worth $60+ Trillion (cont’d)

Posted on March 24, 2014 by Carl Herman WashingtonsBlog The 2014 Worldwide Wave of Action (and here) begins ~April 4 on the anniversary of Martin King’s assassination by the US government (civil court trial verdict), with this operation completing ~July 4 (Martin’ 2-minute plea to you). Purpose … Continue reading

Arrest 1% criminals or have economic serfdom with unpayable, increasing debt

October 8, 2013 by Carl Herman Source: WashingtonsBlog 1% US “leaders” in economic management from government and finance/banking cause trillions in damages to our families every year in OBVIOUS lies: They tell us debt is “money” in Orwellian psychopathic viciousness. Adding more debt, as … Continue reading

!!!!! MUST READ: DETROIT FILES FOR BANKRUPTCY DESPITE MILLIONS IN HIDDEN INVESTMENT FUNDS

* The plan to bankrupt us and our cities was put in place sometime ago with laws that I believe are illegal. If we’ll let them, they intend to do to us something similar to what they’re doing in Greece. … Continue reading

In response to: Michigan AG challenges judge’s ruling that Detroit bankruptcy is unconstitutional – by Walter Burien

What I have always found interesting is: Most large cities, counties, and states are bringing in more money than Midas ever dreamed about in his wildest dream, and for decades the general population was masterfully entertained off into distraction by … Continue reading

SO YOU WANT A GOLD BACKED CURRENCY – THE 50-YEAR PLAN IS COMING TO A CLOSE.. Thanks to TS for this. . .

This is an excellent analysis of the current situation, from Walter Burien’s point of view. Here we have what I believe is an honest man, an honest broker, who is doing/has done us a great service by uncovering and making … Continue reading

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The Irish Rising: WARNING this video contains strong singing and happy peaceful protesters. Please do not watch if you have been brainwashed by the mainstream media.

There is a lot of other ‘news’ today, and I will get it out shortly. I think, though, this that I’m publishing is important to focus on in a deeper way . . . ~J

Screen Shot 2014-12-13 at 10.13.08 AM
Click Here to watch the actual video :)
Thanks to Y

Wednesday the 10th of December 2014

The Main Stream Media reported that there were trouble makers on O’ Connell Bridge on Wednesday at the Protest.

Most of our group from Thurles and Cashel were on the Bridge as well as myself.

There were also three Tipperary County councillors standing with us.

Here is the video of us causing trouble.

Outrageous behavour really, but I have to post the video.

WARNING: this video contains strong singing and happy peaceful protesters. Please do not watch if you have been brainwashed by the mainstream media.

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The Daily Bell: Shock: Spain Shuts Down Google, Confronts the Internet

By Staff News & Analysis
December 12, 2014

ideatheftSadly, as a result of a new Spanish law, we’ll shortly have to close Google News in Spain. Let me explain why. This new legislation requires every Spanish publication to charge services like Google News for showing even the smallest snippet from their publications, whether they want to or not. As Google News itself makes no money (we do not show any advertising on the site) this new approach is simply not sustainable. So it’s with real sadness that on 16 December (before the new law comes into effect in January) we’ll remove Spanish publishers from Google News, and close Google News in Spain. – GooglePolicyEuropeBlogspot

Dominant Social Theme: Copyright is very important and you can’t steal people’s thoughts without paying for them.

Free-Market Analysis: Richard Gingras, Head of Google News, posted this update on Thursday, explaining that Google News would have to close in Spain.

That’s because Spanish legislators have decided that any time someone reproduces even a few words of someone else’s writing, it is now considered stealing unless compensation is paid.

Germany previously passed an unsuccessful law of this sort, but the difference is that most media companies waived their right to charge for excerpts because Google created so much traffic.

To make sure that the Spanish version was more successful, language stipulates that media companies MUST charge! There is no choice in the matter.

Here’s more . . .

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US isolated, BRICS to get greater voting power at IMF

BRICSPost
December 13, 2014, 4:31 am
Thanks to D. 

President of Brazil Dilma Rousseff at the BRICS Summit in Brazil where the five countries launched a $100 billion new development bank in July 2014 [PPIO]

Months after the formation of new financial institutions like the $100 billion BRICS Bank and the China-led Asia Infrastructure Investment Bank, Christine Lagarde, managing director of the International Monetary Fund (IMF), said Friday that the organization is ready to discuss IMF voting reforms without the United States to give BRICS and emerging countries greater voting power.

Lagarde said the IMF is disappointed with the US inaction to ratify the governance and quota reforms and will now move forward without Washington.

“The IMF’s membership has been calling on and was expecting the United States to approve the IMF’s 2010 Quota and Governance Reforms by year-end. Adoption of the reforms remains critical to strengthen the Fund’s credibility, legitimacy, and effectiveness, and to ensure it has sufficient permanent resources to meet its members’needs,” Lagarde said in a statement.

“I have now been informed by the U.S. Administration that the reforms are not included in the budget legislation currently before the U.S. Congress. I have expressed my disappointment to the U.S authorities and hope that they continue to work toward speedy ratification,” she said.

“As requested by our membership, we will now proceed to discuss alternative options for advancing quota and governance reforms and ensuring that the Fund has adequate resources, starting with an Executive Board meeting in January 2015,” she added.

Earlier in September this year, in her opening address at the United Nations General Assembly, Brazilian President Dilma Rousseff warned that international financial institutions are in danger of losing legitimacy if developing countries like BRICS are not given proper representation.

“It is also imperative to eliminate the disparity between the growing importance of developing countries in the global economy and their insufficient representation and participation in the decision-making processes of international financial institutions, such as the Monetary Fund and the World Bank. The delay in the expansion of voting rights of developing countries in these institutions is unacceptable,” Rousseff said.

“These institutions are in danger of losing legitimacy and efficiency,” she added.

The IMF reforms will hand more IMF voting powers to BRICS, a long-standing demand of the group and will also reduce the concentration of representative power of Western Europe at the IMF board.

China and other emerging economies, including BRICS, have long protested against their limited voice at global financial platforms, including the World Bank, International Monetary Fund and Asian Development Bank.

The IMF quota reform calls for a 6 per cent shift in quota share to emerging economies. It will lift China, which still has less voting power than the Benelux countries ( Belgium, Holland and Luxemburg), to the third largest shareholder. Shares for Russia, India and Brazil will also see hefty rise.

The reforms, however, have been delayed for four years owing to a block by the US Congress as the US retains a veto. IMF chief Lagarde hinted at a “Plan B” in April if the US fails to endorse the reforms by year-end.

 

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PressTV: Portuguese parliament calls for Palestinian state

Fri Dec 12, 2014 9:5PM GMT

Portugal’s parliament has accepted a resolution calling on the government to recognize Palestine’s statehood. 

The resolution, jointly filed by the Portuguese center-right majority and the opposition Socialist party on Friday, proposed “recognizing, in coordination with the European Union, the state of Palestine as independent and sovereign.”

Portuguese Foreign Minister Rui Machete said after the vote that the government “will choose the moment best suited” for the recognition of the Palestinian state.

On Thursday, France’s upper house of parliament passed a resolution calling on the government to recognize Palestine as an independent state following a similar vote in the lower house.

Sweden is the only European country that has officially recognized Palestine’s statehood, although several other parliaments of EU states such as Spain, Britain, and Ireland have also adopted similar bills, which demand that their governments recognize Palestine as a state.

Israel has been angered by the motions submitted to European parliaments.

On November 29, 2012, the 193-member United Nations General Assembly voted to upgrade Palestine’s status to non-member observer state.

Palestinians are seeking to create an independent state on the territories of the West Bank, East al-Quds (Jerusalem) and the Gaza Strip and are demanding that Israel withdraw from the occupied Palestinian territories. Israel, however, has refused to return to the 1967 borders and is unwilling to discuss the issue of al-Quds.

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LIKE CLOCKWORK: Pension plans to be looted nationwide as Congress okays institutional theft of funds

by Mike Adams, the Health Ranger
Natural News
December 12, 2014
Thanks to I.

(NaturalNews) On April 2, 2013, in an article entitled Economics 101: Production, coercion and theft, I wrote about the coming looting of pension plans, stating:

When societies approach collapse, coercion shifts to outright theft: Stealing money right out of your bank account, for example, like we recently witnessed in Cyprus. Government also routinely target pension funds and even private retirement accounts, attempting to keep itself afloat by any means necessary.

Just like clockwork, that looting of pension plans is now about to commence. “Congress could soon allow the benefits of current retirees to be cut as part of an agreement to address the fiscal distress confronting some of the nation’s 1,400 multi-employer pension plans,” writes Michael Fletcher of the Washington Post. [1] The Post continues:

“This proposal would devastate retirees and their surviving spouses,” said Karen Friedman, executive vice president of the Pension Rights Center, a nonprofit group. “The proposal would also torpedo basic protections of the federal private pension law … that states that once benefits are earned, they can’t be cut back.”

All the pension benefits that have been promised government retirees, in other words, are about to be stolen back from retirees.

This is precisely what I’ve long warned Natural News readers was coming. And this is merely the very beginning of the true destruction of the financial collapse headed our way. When the next market crash arrives, billions of dollars in retirement funds will be destroyed virtually overnight, and pension funds nationwide will be wiped out.

A “declaration of war” against the American worker

The fact that this wholesale theft of pension funds is now under way has not escaped union workers and retirees.

As WashPost also reports:

“This is nothing less than a declaration of war by Congress on American retirees,” said R. Thomas Buffenbarger, international president of the International Association of Machinists and Aerospace Workers.

Indeed, “war” is exactly how most people are going to perceive this… especially when retirement checks are the primary source of income for many retirees who are just barely getting by.

For millions of Americans, when those checks stop coming, it spells instant financial disaster. Many won’t be able to pay their mortgages or rent payments, and we are sadly going to see a massive wave of new American homeless coupled with a glut of vacant homes owned by banks teetering on financial collapse.

As pension funds are increasingly looted and stolen from retirees, more and more of America is going to resemble Detroit: a city that once shined with innovation but now — thanks to outrageous corruption, taxation and the endless expansion of government — has collapsed into third-world status that even lacks running water for many of its residents.

Back in 2013, I warned about all this in an article entitled “Production, Coercion and Theft.”

It’s time to revisit that article, so here it is:

Flashback: Production, Coercion and Theft

I’d like to share a lesson in economics today, and I call it the “Production, Coercion and Theft” lesson.

There are only three ways to accumulate money and wealth in world (other than stumbling across a hidden treasure and actually finding money, that is):

#1) Production: Offer something of value in exchange for money voluntarily traded by recipients

#2) Coercion: Confiscate money (or stores of value) by claiming authority over those who earn it

#3) Theft: Steal money (or stores of value) from those who already have it

Every person in society today acquires money in these three ways (with “gifting” being a fourth way that’s in a separate category because it’s passive, not active). The office worker, the entrepreneur, the laborer, the weekend burglar and even the professional politician all acquire money in one of these three primary ways.

Production means offering something of value to another party who is willing to trade you dollars for it. It can include both goods and services. A 9-5 office worker, for example, offers the value of their time and effort, and in exchange they are compensated at an agreed upon pay rate.

Production can also mean adding value to physical goods. We do this at the Natural News Store by sourcing organic superfoods from around the world and packaging them in pouches and cans for retail in the USA. This is a classic example of value-added production.

Out of the three methods of money accumulation covered here, production is the only one that adds abundance to the economy. The other two methods reduce wealth and ultimately promote poverty.

Coercion means forcing someone to give you money. This is the default method of all government bodies, from your local property tax collector to the federal IRS. Coercion means extracting money from someone in a non-mutually-agreed (i.e. “non-voluntary”) way.

Being mugged is a lot like being taxed

A mugging is money extraction via coercion. Ironically, it is almost identical to taxation: There is a threat of force stated or implied, followed by a request for a certain amount of money: “Give me your wallet” or “Pay $12,453.24.” Your compliance results in the source of the coercion taking your money then moving on to their next victim. Non-compliance results in you either being shot, stabbed, arrested at gunpoint or stripped of other possessions you may own.

Theft is different from coercion in that there is no interaction at all between two parties. Theft is when someone breaks into your house and steals your flat screen TV when you’re not even there. Or it’s when someone breaks into your online bank account and transfers all your money to an offshore crime haven in Nigeria.

Theft is what recently happened in Cyprus, where banksters stole 40% or more of private account balances, later stealing 60% or more of many business accounts. It wasn’t coercion because there was no threat of force, nor any compliance on your part. You simply wake up one morning and find that your bank account, your truck, your wallet or your laptop computers is missing. That’s theft… and that’s how the global banking system fundamentally functions.

Another advanced kind of theft is committed by the Federal Reserve. By printing new money, it steals the value of all the money you currently hold. This is called “currency theft” but a full discussion of it is beyond the scope of this lesson. For now, let’s stick to simple theft and coercion.

The illusion of compliance

Governments typically shy away from engaging in outright theft. Why? Because they hope to create the illusion of voluntary compliance. By coercing you into giving up your money “voluntarily,” they avoid the appearance of outright stealing money or property from you. You “agreed” to pay your taxes, didn’t you?

In certain cases, of course, the government does engage in outright theft. This is called “eminent domain” and it means the government simply claims ownership of something you own (usually some land or a building), then decides how much money to pay you for it. The government claims the right to steal from you for “the common good,” implying that the benefit of some is more important than protecting the private property rights of all.

Theft is also carried out through misrepresentation and fraud. If a used car salesman sells you a 2005 Chevy pickup with “only 25,000 miles” on it, but it turns out they hacked the odometer and the vehicle actually has 300,000 miles on it, that’s misrepresentation and fraud.

This is very common in the food industry where “extra virgin olive oil” often turns out to be cut with GMO canola oil. Or where “tuna fish” actually isn’t from tuna. In the health supplements market, misrepresentation and fraud is also common among heavily-hyped “miracle” supplements that claim impossible results. Acai weight loss pills are a good example.

Misrepresentation and fraud is how virtually the entire system on Wall Street operates, by the way. It’s all a numbers game where investment houses sell stocks short while telling their customers to buy. The ratings are faked, the customers buy the stock, the investment brokers sell it short and wait for the stock to tumble from its artificial high, after which they rake in the profits.

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