ENOUGH! [BASTA][Draft/BETA][Introduction]

9 Biggest Banks' Derivative Exposure - $228.72 Trillion

ENOUGH! [BASTA][Draft/BETA][Introduction]
By Paul McLean

[NOTE]: The following text is the next installment of the series ENOUGH! - which is being developed as a resource for CO-OP/Occuburbs, an OwA production for Huntington, LI. This draft is open to revision, refinement and is introduced for the purposes of community review. 

Humanity? Yes, it's OK – some great talks, some great arts. Concrete people? No, 99% are boring idiots.

- Slavoj Žižek (http://www.guardian.co.uk/culture/2012/jun/10/slavoj-zizek-humanity-ok-people-boring)

The feeling of humiliation is nothing but the feeling of being an object. Once understood as such, it becomes the basis for a combative lucidity in which the critique of the organization of life cannot be separated from the immediate inception of the project of living differently. Construction can begin only on the foundation of individual despair and its transcendence; the efforts made to disguise this despair and pass it off under another wrapper are proof enough of this, if proof were needed. What is the illusion which stops us seeing the disintegration of values, the ruin of the world, inauthenticity, non-totality?

- Raoul Vaneigem, The Revolution of Everyday Life ("Humiliation," p. 21)

To all those who still wish to talk about man, about his reign or his liberation, to all those who still ask themselves questions about what man is in his essence, to all those who wish to take him as their starting-point in their attempts to reach the truth, to all those who, on the other hand, refer all knowledge back to the truths of man himself, to all those who refuse to formalize without anthropologizing, who refuse to mythologize without demystifying, who refuse to think without immediately thinking that it is man who is thinking, to all these warped and twisted forms of reflection we can answer only with a philosophical laugh - which means, to a certain extent, a silent one.

- Michel Foucault, LES MOTS ET LES CHOSES [Trans., The Order of Things, ("Man and His Doubles," p. 343)]

Why do critics thus periodically proclaim their helplessness or their lack of understanding? It is certainly not out of modesty...All this means in fact that one believes oneself to have such sureness of intelligence that acknowledging an inability to understand calls in question the clarity of the author and not that of one's own mind. One mimics silliness in order to make the public protest in one's favour, and thus carry it along advantageously from complicity in helplessness to complicity in intelligence.

- Roland Barthes, Mythologies ("Blind and Dumb Criticism," p. 34)

Ambrose in his shop.

thank you.

I am a fan of never leaving a stone unturned.

after gluing and shaping three boards

I just couldn't in all concience finish

with glass withoutgetting the weight down.

I've got the band saw. I need to re-split the boards

had I comitted to chambering at the outset,yes,

life would be a whole lot different... and easier.

when I get more wood I will be more coherent.

no greater learning than doing things the hard way.

...ambrose...

now I will check c-list for the beam saw...

- ambrose m.curry III

ENOUGH! [BASTA!]
1
Derivatives
Illusion
Corruption
2
Origins
Truth
Innocence

Watch the whole program HERE.

[INTRODUCTION]:
When art is called "derivative" as a critique, the artwork so labeled is generally not being complemented. The term can migrate and serve as a label for an artist, again, as a pejorative. The critic is usually pointing out where in a vertical hierarchy, usually tied to chronology, an artwork or artist fits on the basis of originality. Anti-originality, keep in mind, has been a darling of the anti-art factions for nearly a century. The "traditional" art world is keen on its own version of "trickle down theory," elevating inventors and innovators to the pinnacles of a creative pyramid schema. It's a fairly pervasive formula for assigning value in crafts, like fashion. Think of the scene in "The Devil Wears Prada," when Meryl Streep's character credits herself with playing a big part in determining the outfit the young heroine of the movie is wearing. Each iteration removed from the original is thought to be corrupted by being so situated, but the architecture is holistically maintained as a given, and relies on the B, C, D+ lines for the legitimacy of the top end. Such is the realm of Style, and it is an appendix of the Courts (the regal ones, not the judicial kind).

Click to read more ...

Infographics on Derivatives (& More) @Demonocracy

[NOTE]: Demon•cracy presents some brilliant data visualization on the threat posed to all of us by the global financial giants, like JP Morgan Chase, who are gambling with complex instruments, like derivatives, that could destroy the world economy, are distorting democratic society in brutal, ugly ways, and necessitating horrible policies like austerity and endless war. Below are a couple of sample graphics + texts (on bank exposure due to derivatives), but click HERE to view the informative - and terrifying - facts.

9 Biggest Banks' Derivative Exposure - $228.72 Trillion

Note the little man standing in front of white house. The little worm next to last football field is a truck with $2 billion dollars. There is no government in the world that has this kind of money. This is roughly 3 times the entire world economy. The unregulated market presents a massive financial risk. The corruption and immorality of the banks makes the situation worse. If you don't want to bank with these banks, but want to have access to free ATM's anywhere-- most Credit Unions in USA are in the CO-OP ATM network, where all ATM's are free to any COOP CU member and most support depositing checks. The Credit Unions are like banks, but invest all their profits to give members lower rates and better service. They don't have shareholders to worry about or have derivatives to purchase and sell. Keep an eye out in the news for "derivative crisis", as the crisis is inevitable with current falling value of most real assets. Derivative Data Source: ZeroHedge

JP MORGAN CHASE

JP Morgan Chase has a derivative exposure of $70.151 Trillion dollars. $70 Trillion is roughly the size of the entire world's economy. The $1 Trillion dollar towers are double-stacked @ 930 feet (248 m). JP Morgan is rumored to hold 50->80% of the copper market, and manipulated the market by massive purchases. JP Morgan (JPM) is also guilty of manipulating the silver market to make billions. In 2010 JP Morgan had 3 perfect trading quarters and only lost money on 8 days. Lawsuits on home foreclosures have been filed against JP Morgan. Aluminum price is manipulated by JP Morgan through large physical ownership of material and creating bottlenecks during transport. JP Morgan was among the banks involved in the seizure of $620 million in assets for alleged fraud linked to derivatives. JP Morgan got $25 billion taxpayer in bailout money. It has no intention of using the money to lend to customers, but instead will use it to drive out competition. The bank is also the largest owner of BP - the oil spill company. During the oil spill the bank said that the oil spill is good for the economy. JP Morgan Chase also received a SECRET $391 billion dollar bailout from the Federal Reserve. In 2012, JP Morgan (JPM) took a $2 billion loss on "Poorly Executed" Derivative Bets. Click the image above to read about it.