….from those who brought us the military industrial complex, we now have……
“The Sports Industrial Complex Racket!”
Show me the money!
Reportedly, Gary Bettman does not want to sell short the value of the Phoenix Coyotes. It’s $165 million if you want to make a deal with the NHL, Mr. Hulsizer – certified cheque or money order please.
And according to the newly thrashed David Shoalts (who really just tells it like it is and apparently is not admired for it):
Matthew Hulsizer’s bid to buy the Phoenix Coyotes from the NHL has stalled because the Chicago businessman wants a big discount on the $165-million (all currency U.S.) the league wants for the team, two sources say. This, the sources add, is despite the fact Hulsizer, 40, has an agreement in principle with the city of Glendale, Ariz., on a multiyear arena lease that could pay him $100-million toward the Coyotes’ annual losses through parking charges, taxes and property levies from a community-facilities district created around Jobing.com arena.
As Dave Zirin, from EdgeofSports.com discussed with Max Keiser, it’s all about subsidies – the rich guys taking all they can from the taxpayers of municipalities who, in Glendale’s case, cannot afford it.
Let’s do a quick recap shall we?
Who in their right mind would buy the Phoenix Coyotes for the realization that on its own it would make money? Hands anyone? Anyone?
So, how is Hulsizer and the Ice Edge Group going to make it? That is the question. The hints begin with what the “unpopular” Shoalts points out – taxes, charges, and levies – the taxpayers, and business owners are going to subsidize the team. No different really than the current focus in America as a whole.
The Federal Reserve, a private central bank produces money out of thin air, lending it to the U.S. government, and the interest on the escalating debt is paid for by, yes, that’s right, the taxpayers of the United States. In the U.S. about 60% plus of each tax dollar goes to paying interest on the debt – forget everything else. Ellen Brown tells it best:
Our money system is not what we have been led to believe. The creation of money has been “privatized,” or taken over by private money lenders. Thomas Jefferson called them “bold and bankrupt adventurers just pretending to have money.” Except for coins, allof our money is now created as loans advanced by private banking institutions — including the privately-owned Federal Reserve. Banks create the principal but not the interest to service their loans. To find the interest, new loans must continually be taken out, expanding the money supply, inflating prices — and robbing you of the value of your money.
Not only is virtually the entire money supply created privately by banks, but a mere handful of very big banks is responsible for a massive investment scheme known as “derivatives,” which now tallies in at hundreds of trillions of dollars. The banking system has been contrived so that these big banks always get bailed out by the taxpayers from their risky ventures, but the scheme has reached its mathematical limits. There isn’t enough money in the entire global economy to bail out the banks from a massive derivatives default today.
The debt is spiralling out of control and citizens of the United States are buying guns because reportedly over 80% do not trust their government!
So, with a nation already on the brink of wondering where the next meal will come from, or if they will be able to keep their home/roof over their head, because of the luxury of saying they have a hockey team, the City of Glendale is going to push the taxpayers and businesses further to support higher taxes?
How about rising prices to boot? Inflation!
Pyle tells us in the above clip that they are “waiting” for the quantitative easing, as if it was a good thing….interesting.
You see, one lesson that was learned during the last round of bank bailouts was that the American people really, really do not like it when the U.S. Congress votes to give money to the big banks. So this time, the financial “powers that be” have figured out a way around that. Instead of going through the massive headache of dealing with the U.S. Congress, the Federal Reserve is simply going to print money and give it directly to the banks. To be more precise, the Federal Reserve is going to use a procedure known as “quantitative easing” to print money out of thin air in order to purchase large quantities of “troubled assets” (such as mortgage-backed securities) from the biggest U.S. banks at well above market price.
In the end, all of the inflation that this new round of quantitative easing is going to cause is going to be a “hidden tax” on all of us.
These new backdoor bailouts are going to work something like this….
1) The big U.S. banks have massive quantities of junk mortgage-backed securities that are worth little to nothing that they desperately want to get rid of.
2) They convince the Federal Reserve (which the big banks are part-owners of) to buy up these “toxic assets” at way above market price.
3) The Federal Reserve creates massive amounts of money out of thin air to buy up all of these troubled assets. The public is told that all of this “quantitative easing” is necessary to stimulate the U.S. economy.
4) The big banks are re-capitalized and have gotten massive amounts of bad mortgage securities off their hands, the Federal Reserve has found a way to pump hundreds of billions (if not trillions) of dollars into the economy, and most of the American people are none the wiser.
Some like to call it “printing money”, as does Peter Schiff in this clip with Max Keiser. This was taken in 2009, and note the flavour of the conversation. Where will the U.S. economy be heading with lowering jobs, lowering wages, and “inflation” by the promotion of more borrowing at the price of “savings”?:
Couple quantitative easing with the other Obama goal of allowing banks to start the foreclosure racket again, and we can smell the pro Wall Street stance. And, let’s not forget that the foreclosures of homes were the result of the derivative scandal attached to the toxic mortgage debt. In some cases, we had two banks competing to foreclose on the same property that was according to the homeowner paid off years prior. Oh well, who cares – let the foreclosure games begin (again)!
How long can people continue to pay the rent on their own homes?
Really makes one wonder if the push to higher inflation is like taking the plug out of the bathtub in hopes the waters of wealth drain faster. As the economy tanks, and taxes rise, who will have enough money to go to a game anyhow?
Shifting gears, it’s interesting to note the allegiance shift in campaign contributions over time, of the new potential Coyotes owner.
With Obama selling his country down the river to Wall Street interests, it is interesting to see who supports the monetary policies and why.
Forget about pulling the plug on grandma….just pull the plug on needlessly tapping the good people of the United States with taxes for a game that will be the least of their worries.
The bottom line is wealth transfer. The rich get richer whether it is the privately owned Federal Reserve and their banker buddies, or the peripheral support of those looking to further the cause. Who pays? – we do. And they are tapping us more and more whether we like it or not.
There is something about quantitative easing and the new breed of real estate scam know as foreclosuregate.
When instututional lenders who bought up to 30 times the value of homes incredit default swaps come a knockin’ to foreclose on property, it is no wonder the foreclosure racket is the new tool to bilk the taxpayer. The bet against the borrower has incentive to fail. The lenders bet against who they lent to. Conflict of interests abound. And Arizona is ripe for the foreclosure picking it would seem. Hmmm….
Your $300,000 home could be worth more foreclosed than not. $300,000 or 30 times that. Where is the incentive to keep you in your home?Sorry, about hockey….
It would lead us to believe the sports industrial complex may be put in place as a substitution for the fact that they might have us all living in State-run housing projects, on state-funded food stamps from J.P. Morgan, and watching state subsidized sports.
But, at least the President of the United States has promised he will be fixing up the roads – even leading to the Coyotes games, with fresh, fully funded asphalt.
Infrastructure growth in America will increase jobs, wages, and the like. Of course, it will also put more people dependent on the public payroll (not to be confused with being paid for by taxpayers though – get that straight will you?).
Certainly, there is a shape forming.
Can you see it? The State becoming the major employer in the U.S. ?
Well, at least the new Coyotes suitor is honest – the Coyotes staying in Glendale will cost the taxpayers; they have come right out and said it – no bones about it.