Part III of VI
Let the Ladies Try Their Best
The sex trade didn’t begin in
In all wars “women” from 6 to 60 were every soldier’s war
booty. But in independent towns, all
citizens were free though often poor. In
order to survive, the government & Church made prostitution almost legal &
sanitary by monthly medical tests & lucrative for all involved. The city fathers got their taxes, the Church
their “stained”, colorful glass window art & priests had little problems
with bachelorhood.
Any avid tourist has his or her favorite big city in
The money for the women (young, very young) was readily
accepted. Some visiting priests or
ministers were on the take while they made it also the subject of impromptu
sermons. That is no double jeopardy at
all. The subject(s) of the preachment
may have fully agreed to the flowery, sexy speech, cried bitter tears &
made public promises of bettering her (their) way. No better way existed for public advertizing
of available services without additional fees.
In several of these famous attractions you find the red –
light quarter now giving way to a
Those nations that made modern prostitution legal referred
to its brilliant history & its important place in the economy. The present
day argument stresses the “healthy” supervision of the members of the sex
industry – monthly doctors’ examination & the secret use of condoms. In a few cases, pious hypocrites have
publicly accepted the use of rubber protection to prevent modern diseases,
leading to pandemics. Of course, in the
great past, there were not supposed to have been man or boy prostitutes. But remember the First Crusade, preceded by
the Children Crusade? Good Germans,
Austrians & French subjected boys to equal treatment!!
In
Since then skin & fur trade tried to play a greater
part commercially. The family of the
German John J. Astor (1763 – 1848) tried to take over much of the Hudson Bays
Co’s Indian trade in kind. What he earned
from his “American Fur Co.” was invested in
In our time, Martha Stewart worked assiduously &
honestly for the benefit of humble & practical house wives. That she dared breaking through the glass
ceiling of leadership, enraged the male corporate world. Her ambitious, simple & rational work
ethics did challenge male chauvinism, the more so when she proved that
East-European families, not welcome by our WASP hornet culture in “their”
country, could actually be their moral weight in gold.
Good working women who have been discriminated against by
the pious Protestant work ethics were not surprised when our pious establishment
used their legal & political hegemony to force this great lady into trying
to combat the evil structure of their caputalism & make her “lie” to these
characters without any character. To
more honest judges of greater honesty in business, Martha is the epicenter of
women’s constructive power which makes man’s chauvinism quake & conspire to
whittle her down to the size they want & still obtain.
Give them the business, busy Martha, compared with
bankrupting Trump, you are to trump all yet.
Your few hundred millions are a good beginning. Your jail time must serve the world as a
badge of honor which proves that the present American System, as underpinned by
sycophant brokers of a criminal establishment of illegal laws, a mean Congress
& deceitful administration is ready for the Fall. More good luck & good work & works to
you, by you, Martha the Great!
Among great Jewish women, Henrietta Szold (1860 – 1945)
& Golda Meir (1898 – 1978) are the greatest & somewhat intellectually
entwined. The former was made
multi-lingual & multi-motivated to share highest education & loving
interest with the total world.
Motivated to Americanize immigrants from Slavish
persecution, Szold established a night school for them. She moved from
Golda Meir was a little girl who attended Henrietta Szold’s
school in
Both ladies worked for the benefit of laboring people in
their vain attempt to give modern capitalism a human face. Both helped industry & industrial
relations. In their attempts to weaken
the religious – patriotic basis of aggression, both became victims of that
church-state alliance which is being made a holier Constitution of any aspiring
democracy of these days.
Polish Helena Rubinstein (1870 – 1965) became a polished
beautician with her first Australian beauty salon in her twenties when she was
still worth looking at. The face cream
which did a lot for millions of women’s faces didn’t do the job for her face as
she gathered huge rewards for her secret family recipe. Of course, it was from
Elizabeth Arden (1878 – 1966), née Graham, came from our
Northern neighbors. She felt competent
to rival Helena R. in pasted cheeks according to scientific formulas. Together they ruin really pretty faces &
caused, perhaps, new diseases. But as
owner of willing race horses in
Estée Lauder gave her native
The late lady wasn’t business-like careful in her pro –
creation of a family of bad heirs. One
of the richest of those chose the idle life of a criminal. He has the time of a long life behind bars to
mend his ways. Some are business –
crooks & violent agents of their trade.
Outsiders commit crimes as their private enterprise.
But it was a man who founded “
The perfume industry developed from luxury scents for the
haute vole to universal popularity of stink water & skin – ruining cancer
powders. That began a billion dollar
affair for L’Oreal, Proctor & Gamble, Arden and the many concoctors of
plain toilet water. Here the allusion to
urine never pro-duced ruin. But heirs to
the richest, here & elsewhere, may be flagrant children & grandchildren
of toilet water who don’t swallow their inheritance & give no stomach pain
to avid readers or TV news swallowers.
Moisturizers & skin improving fraud may soon play the
minor sister to complete overshadowing of skin, face & other deficient body
parts. This multi-million rejuvenating
industry is already sky-flying & flaying by the billions. If aging is the preferred standard instead of
slowly dying in barrios here & in 3rd world countries, the
sensitive rich want to beat the odds even if there threatens the occasional
disastrous operation which can only be recovered by million-dollar lawsuits.
In general, I don’t understand fashion – underwear &
upper dress codes. Let Calvin Klein,
Victor Papanek, Candace Wheeler, Elizabeth Arden, Marcel Breuer, Oleg Cassini
& especially these rich ladies who know what they want to cover their flaws
& their men. Whichever are
fashionable for a season or less time to favor & adoration. This business should cover a trillion dollars
& pounds of our economy.
I knew some great lady – fashion designers in
Shortly before I took my German – American fashion model to
the new fashion center in Milano, I watched a T.V. interview of a young Italian
who declared himself the fashion tsar of the Sicilian Mafia. American interviewer apparently know that
&, therefore, could ask leading questions which nobody in the T.V. studio
doubted. In fact, all were worried about
his safety in a country which had fought the Mafia under J. Edgar Hoover. No longer were
The elegant Italian could explain in perfect English that
he was well-protected by
Young Moriah bused
After long waiting, we were greeted by a German – born
Konan who had hiked with me & my Kona Hiking Club when she was about 6
years old & her mother 38. Now she
was a nervous chain-smoker with ashes all over her lovely silk dress. She liked my suggestion to have her fantastic
legs insured like Betty Grabel?
The boss ignored me completely until I asked him whether he
was the man who was interviewed on U.S. TV on such & such a show by a
famous talk master. I didn’t have to ask
more. He kept talking to me, Moriah
& my former hiking companion for hours.
How his Mafia had ruined
I had to go back alone to the hotel by myself & wait
there until my Swiss and German tours began.
The night before I was to leave, Moriah & the pretty – legged smoke
– fiend visited me a last time. Their 2
bodyguards checked whether there was a window ladder by which Moriah could get
away & then retreated to the lobby.
The hiker soon kissed me good-bye. Moriah was allowed exactly an hour of
privacy before she cried her good-bye. I
never saw her again.
Her grandmother & youngest brother brought me 2 of her
calendars & mentioned that our model had done her fashion work for a
year. Her boss took her on his yacht
& asked for his dues. Moriah jumped
overboard & swam a few miles until saved.
She joined her numerous stepfathers & more siblings in
Trillions are invested in Art & Unart as the emperors,
empresses, kings, industrialists, gamblers, & politicians can prove by the
general arrogance of those who own, admire or want art, art & more of it,
even if they have to bribe & bully art historians, museum directors,
auction-house owners or mere stock exchange bandits to declare what is art to
their homes or pockets.
A late friend of mine learned from the great Spaniard,
Picasso, that he couldn’t earn his daily bread with great oil paintings but
then earned a fortune by smearing thick paint on canvas with his workhand
behind his back & not even looking at the canvas. That may explain why this millionaire turned
Communist in order to show his contempt for rich art lovers, art fakers &
art imitators. Impressionism didn’t
impress him.
But Hermann Goening, Hitler’s right hand jovial
eater, knew what his vandals & murderers should serve him up for after –
dinner peaceful contemplation. The
murdered art-possessing Jews couldn’t defend their arty property. If there are surviving heirs, they can rarely
prove what should or could be theirs.
But we don’t think that those possessions amounted to a billion &,
therefore, are not a big slice of our economy or what some of our richest art
collectors stole from the corpses of a formerly cultured civilization.
The Zales, Kays & other assorted sellers of jewelry
used to depend on the diamond monopoly of Oppenheimer of segregationist
From my lay view, most of the great profit remains where
the refinery (grinding) takes place – Tel Aviv,
The Zales, Kays, Justins & hundred more shops for the
wealthiest don’t care for statistics.
They are more interested in Bush tax breaks for themselves & their
perpetual customers. The credit rating
of poorer marriage & divorce prospects is of no significance.
In retail business watches go well together with
jewels. In manufacturing these are 2
worlds apart. Swiss watches had it over
those of other nations. Is Timex still
one of the most expensive? I am an
addict of Walmart’s cheap Chinese timekeepers even if the battery which
empowers the “work” dies within a few weeks of the purchase.
Gorbachëv sent me a Swiss one with his wife, Risa’s,
niece. It got lost when Hospice made me
move out of my former home (and Richard Boone’s, “Paladin”) The manager had hired Colombian thieves who
pretended to be refugees from
In some stores cameras are featured in the vicinity of
jewels & watches to be watched for their values by security police at the
same time. Once the German Zeiss which
ground great telescope lenses, had a near monopoly in cameras, too. When Russians were in command there, George
Eastman (1854 – 1932) S. Kodak Company’s heirs took advantage & produced
cameras & films as a near – monopoly.
If President Lincoln had shaved off his beard, there might
be many more cleanly shaven men without the help of chemotherapy. King C. Gillette (1855 – 1932) hated the
blood – sucking, very sharp razor blades because the leather on which they were
sharpened was sometimes used by fathers to belt their obstreperous boys when he
was not ready to take his leather belt off his precariously held-up pants.
Gillette kept improving his original safety razor, so that
its blade could be expelled when blunted & replaced by a brand-new
blade. He established the Boston
Gillette Safety Razor Co. His millions
allowed him to remain a sharp president even from
Schick made the entire shaver disposable & cheap. They claimed that the built-in Protective
Safety Cap keeps the blade sharp for “close comfortable shaves”. I heard that no blood is being spilled in the
shaving process. But I usually manage to
produce a few drops of the red substance.
Some men will need lots of them if they go traveling as the chic Schicks
suggest.
John Hammond (1910 -87) may be our first big music
industrialist. By keeping up with ever –
changing jazzy trends & recordings the voice & instrumental sounds of
possible stars, he made Columbia Records his record enterprise. From
When I was a scholarship student at an international school
in Seesen am Harz, we had short Sunday walks to the
Of course, nobody can deny Elvis Presley (1935 – 77) the
kingdom of sexofrenetics on earth. The
former choirboy didn’t shy from overt body manipulation of the wilder animals
while strumming the guitar like a baby cat.
The kitten from
The more gifted & better trained vocalists,
instrumental stars & gifted composers usually chose old – fashioned opera,
operetta, Symphony, Kammer Music & related culture. They need lots of expensive training but fill
music houses & school performances to their parents’ & friends’
delight. But not even the greatest of
legitimate stars can compare in income with loud crooners & body-gymnastic
outbursts.
The English Beatles were better educated & less vulgar
than the “King”. They chose the world
above the homeland. They would not
settle down in
My little understanding of the music, dance & other art
of the second revolt, must give Duke Ellington (1899 – 1974) all the
credit. He started as a student of
painting & piano, even if Lester Dishman dished out ragtime to him &
the South. Groupies of that trend
smelled success at Broadway,
With the help of arranging composer Bill Strayhorn, Duke
became the center of a billion – dollar industry. He made popular music almost defeat operatic
style before Black classically trained music wonders became equals of white
stage stars. In his train, music
recordings became also billion – dollar capitalism’s freest enterprises. Between Harlem & New Orleans, the power
of music made it one of the hugest enterprises, only slightly disturbed &
vacationed by the New Great Flood.
Along with these styles of music, modern dance made its
appearance. Freed from its slavery, the
foot took its independent tour stepping high.
Even as Black culture began to rule the white stage, the various footing
forces went off on their own in all that Jazz.
In between, we had a short rule of untrained “also singers”
who, as recitatorians & crooners, made millions in popular halls of
Al Spalding (1850 – 1915) was a damned good baseball great
as a pitcher for the 1st organized baseball league. As a promoter & manager he invented our
Abner Doubleday as the originator of this popular game. His inventive genius did not shrink from
manufacturing sport equipment, starting with a monopoly of his baseball. Who in his family had the guts it took to
make tennis rackets, footballs, basketballs, volleyballs, bats & all sports
sweaters or real uniforms with socks & simple sports shoes?
Nike, Reebok & competitors took advantage of poor kids’
expectation of making their fortune not by studying but concentrating day &
night on sports of their liking.
Especially those without spending money made their family buy the most
expensive gym-shoes with fancy names, fancier coloring & fanciful
prices.
Everybody knew that the sports shoes were fabricated by the
poorest kids of
Wholesalers & sportshopkeepers wouldn’t admit that good
American millionaires enjoyed the blood, sleeplessness & pain the small
boys & girls in sweatshops suffered.
Only recently, Walmart had to admit that very many of their wares
originated in the dirtiest sweat shops of the poverty – stricken ghettos in
The huge sportive economy swims in money, chews &
spitting matches. The courts or fields
quickly become slippery enough for the slide-down & slips of stars. The coaches cannot teach their players to
start right, to serve correctly or even coach human conduct; they try to make
up for their failures by cursing their match-up, their losing the ball or
catching it, stopping it or making even tennis & volleyball indecent
contact sport (?)
Some well-known basketball coaches cannot even teach sure
hit free throws from the foul line. Nor
do they tell their ball boys to expect every aiming for the basket to fail
& , therefore, jump from 3 or 4 sides to catch the most likely errant ball
instead of attempting an idiotic foul when an opponent has already his grip on
it.
Punishing, punitive, eventless events, cause the wrath of
independent referees &, thereby, the loss of the match. But arrogance alone can also win a match.
Our sports heroes command public interest comparable to
movie stars who marry 6 or more times while raping their way to costly
lawsuits. Just watch the childish,
self-advertizing movements, gestures, jumping & chest beating gorillas,
& you may no longer enjoy their more civilized antics.
The once harmless Volleyball sport offers now self-praise
& mutual hand shaking in case of good-luck & hand – or – shoulder
holding to admit & even enjoy the social acceptance of one failure or
dozens of them.
Types of sport fairly new, can be advertized into
multimillion dollar business. New stadia
are built at enormous cost for middle schools, high schools, colleges & pro
– ballers, bawlers & boilerrooms.
A good deal of gambling, inhouse & outhouse kind &
unofficial wagering do not ruin reputations for ever. Even his critics forgive Pete Rose because
thousands of others involved in such betting on himself could be named by the
inner circles. I bet that Pete Rose will
yet be entered into the baseball hall of fame.
His then expected autobiography may earn him another million in
imitation of thousands of greater sport scoundrels who maintain their star
rating. After all, doesn’t our economy
sponsor the accumulation of wealth instead of a fair commonwealth? The beer industry does its best, sponsoring
all sports & sportsmen. Thanks to
the boozer industry one drinks after victories, or sometimes too soon, as the
great Australian sport stars still do.
We knew the
Now even the umpires are often blind to the truth in spite
of immediate replay. They punish coaches
& players with “technical fouls” like unworthy judges who jail those who
express their contempt of court. It
isn’t any longer fair play in volleyball & tennis. The evil spirit of our murderous capitalism
affects all our doings, not-doings & undoings.
The 2 Robert T. Jones, father & son, made their
millions from designing 500 golf courses as architecture and art, so that
golfers could earn billions without sweating it out. In most places they have to use golf carts to
avoid walking. That is considered a
sport, too.
As long as Golf was primarily the one dubious sport of the
rich members of country clubs, their stars made millions without deserving
them. Now any attractive stars of all
sports & similar enterprises earn equally many millions if their agents
know how to catch commercial sponsors.
Those who want to sell their special uniforms or footwear,
use Walstreet methods to get them made by prisoners & kids in low-price
economies & sold at whopping prices.
Tourists from the
Something Revolting in the Second
Industrial Revolution
William H. Russel (1812 – 72) was a Vermonter who went
West. With Alexander Majors he
instituted the Pony Express. The best
riders & fastest guns carried the mail between
Jay Gould (1836 – 92) was a surveyor who authored history
volumes. He also was a gambler &
financier & lots of everything else.
Together with David Drew & James Fisk, they robbed Cornelius Vanderbilt
of the controlling power over the Erie Railroad. Whatever they controlled, they manipulated
its stock quotation & thereby stole from the investors. You see, by comparison, that Enron &
Texans were not such swindling engineers.
Gould’s cornering the gold market, brought on the Black Friday Panic of
1869. It lost him the control of Lake Erie
etc. However, that freed his &
borrowed capital to master other railway companies allover the
But a good Irishman, John W. MacKay (1831 – 1902) had
already cut down
I couldn’t tell the difference when I janitored for his already
decrepit firm under a different name (I forgot) & Mackey Radio in the same
big building right across the then Key System train station in San Francisco. Under new ownership after W.W. II both tried
(with my help) to finish the monopoly of the revived
Henry Wells (1805 – 78) & William Fargo (1818 – 81)
swallowed smaller fast – mail companies to establish the “American Express
Company” which remains a ranking delivery service for express money, credit cards
& and the now superfluous travel cheques.
Wells & Fargo also ran several successors to the Pony
Express & helped to win the West; they called the American bison buffalo
before their near extermination together with Plain Indians in memory of their
A revived Wells – Fargo protects the transport of cash from
businesses to banks & vice versa.
Strong young women who can use their gun are among the sponsors of this
essential but unnecessary cash & valuable certificates’ voyages. It seems that a new industrial revolution may
work only on credit systems.
But there always was & will remain the American fear of
fellow robbers. Where greed is king,
emperor & pope, ambitious & industrous exploiters fear unwanted
competition. Bankrobbers know “where the
money is”. There are too many true
professionals in that train of lucre.
Can drug trading compare with direct assault on wealth via Wells – Fargo
or on any bank or cashiers’ cash register?
It takes all sorts of people to run our & their economy.
It isn’t well known how much banking the modern Wells Fargo
is doing. But everyone can watch their
armed trucks transport cash & cash-like notes etc. from thief – proof (?)
treasure houses to banks & stores & vice versa. They add millions to retail prices.
John Pierpont Morgan (1837 – 1913) became in NY what his
fore – fathers were to
Lewis T. Preston, 15 or 16 years my junior, worked for J.P.
Morgan to sustain his breath during the modernization of all banks. After cowtowing too much & too low to big
monopolies, he became the remaker of the old Scot by controlling the Morgan
Guarantee Trust.
Lord Keynes recommended Preston to head his creature, the
“International Bank of Reconstruction & Development” by which the
After
But the man of that hour, months & years, at least, the
huge gorilla of savage capitalism was the Scot of America, Andrew Carnegie
(1835 – 1919). He didn’t need a lot of
schooling to inhale the principles of making money, investing in power in all
phases of life & death & controlling all the wherewithals so dear to
the ignored have-nots.
Warped a bit by strenuous labor in various industries in
Lowly laborers disgusted him enough to have his Pinkerton
hoods, state militias & federal troops shoot them down if they were
insolent enough to want to earn a few pennies more, working some minutes less
or expecting some more human treatment.
But the bloody Homestead Strike (1892) he watched from
Partner Henry C. Frick also didn’t need much education to
produce the coke for Carnegie’s steel furnaces.
They paired off miraculously to coke & cook money. But this Henry was lucky to survive the near-deadly
attack by a Russian anarchist (Alex Berkman & his planning aide Emma
Goldman) Frick assisted Carnegie in the establishment of “U.S. Steel
Corporation”. Forgotten & forgiven
are the cruel misdeeds & selfish ends of Mellon, Carnegie & Frick in
Andrew Mellon (1855 – 1937) made his father’s small
Pittsburgh bank the center of an industrial empires. He was part-founder of the local Union Trust
Co, the Gulf Oil Corporation, Pittsburgh Coal Co., the Aluminum Co. of America
(Alco) & the Panama Construction Co. A Secretary of the Treasury of 3 Rep.
Presidents, he was among the last Rep. to reduce our national debt which had
been the true wings of these political birds.
In spite of his British connection, he tried to become popular with German
revanchists for the
Surprisingly, the obvious conflicts of interest &
secret dealings led to no good. Even an
indulgent SEC chairman had to investigate & hit some firms over the
knuckles.
Great crooks, knowing how to handle the top Republicans of
the IRS, SEC & state ombudsmen are getting away with murder or driving
poorer investors to insanity & suicide.
If they pay for the reelection funds of influential Congress people of
either House, they won’t be jailed – just pay a little of their daily
income. Corrupting a Democrat is cheap. For the reelection of a more indulgent Republican,
the evil brokers pay at least double as much & often a larger
multiple. That is their definition of
free enterprise & Am. Capitalism.
Thousands of suffering Italians needed a loan of $100 to
make their tiny enterprises survive.
None of them protested when they received only $80, or less, as they
signed their stiff obligation interest-wise to repay their $100 loan. All his fellow patriots considered his doings
liberal & generous during hard times.
So Giannini was already stinking rich when the Great
Depression prevented thousands of small farmers to continue paying even only
the interest on their loans & leases.
This great patriot took hold of the poor laborers & had their real
estate auctioned off; he became the biggest private banker.
Mussolini loved this financial supporter & fellow –
Fascist down to his last billions. But
finding themselves on opposite sides through Benito’s foolishness in W.W. II,
the Bank of Italy was born-again in
When Blacks demanded jobs, the then president of this
biggest bank told them that he had already hired a member of the minority. He thought that this first Jew under his wing
absolved him from hiring Mexicans & Negros.
Still, whenever this Bank of America slipped from #1 status, the good
old governing people blamed it on their adoption of anti-discriminatory
regulations, meaning that those illiterates mess up good counter service,
correct accounting & noisy advertizing.
To punish the late Giannini, the good Lord made 20 Japanese banks the
biggest & richest ones in the world until they bought up everything loose
in the big world & repented it.
US enjoined 2 Supreme Court justices of the name of
Chase. Thomas Jefferson attempted to
have the first one impeached. But the
founder of Chase National Bank was no relative although in finance everything
remains very relative. With David
Rockefeller’s training in socialistic city government of
Nobody ever explained why this Rockefeller happened to be
in
Renamed Chase Manhattan, this N.Y. biggie could take turns
with New York City Bank, also infested by the Rockfellows’ gangs, altered as #1
of the world with the immortal Bank of Italy, also renamed for reasons of great
patriotism when they can hold our government responsible for their faked losses
in the developing world.
Since all need a few intelligent Jews, anti-Semitism is
slightly supressed. Yet, all 3 have
often shown their jealousy campaigns against smallish Jewish private banks
& too honest, tiny investment firms.
But even Merryl – Lynch couldn’t exist in this complicated world without
them. Just like Walter Disney’s world of
fantasy.
As controllers over our Federal Reserve system, the hugest
banks, plus a dozen also big ones, control our anti-inflation policies by
letting their smallest clients bear their interest – determinating
fascism. If Social Security did prevent
a full – depression, the big financiers wouldn’t mind robbing all the little
guys of their sparse savings & tiny investments.
I had a personal grudge against Laurance Rockefeller (1916
– 200?) the 5th of the rich brothers. When his brother, then Vice president Nelson,
visited Laurance’s Mauna Kea Beach Hotel in
Laurance gnashed his artificial teeth when his brother
begged me to sit with him as his guest of honor to the delight of all employees
to whom I was the passion-fruit man.
These days, the late Laurance is considered a leading
conservationist as the founder of the nonprofit “Jackson Hole Preserve” near
Please, pardon this aged sceptic if he dares to remember a
hint of our good Governor Burns when his Hawaiian government built the widest
highway from Waimea to Mauna Kea Beach Hotel & later continued it to the
Slightly sick already from killer – cancer, the former
The Citybank of New York appeared as the competitor of
Chase Bank but soon had many common directors with eachother. Laurance Rocky never bothered about conflict
of interest when he became the big one of both.
Such conflicts of interest & everything else is apparent all around
out banking non-system. Only smaller fry
goes to jail for this, especially members of minorities. Never the ones with a plurality of such
conflicts, even if their timely sale of hundreds of millions of stock gives
them an extra billion. The cases of Dr.
Frist and his family’s medical monarchy & Vice President Cheney with his
retirement income from his Halliburton oil income prove nothing or everything.
Not gone to
Now misspelled (spelt?) “citigroup”, it includes Smith
Barney, Travelers umbrella & what not.
(My memory confuses me.) Banks,
brokerage firms, insurance companies & related money-hungry collection
agencies are again permitted the monopoly game.
No breakup like Standard Oil & a few of our vast empires while Busco
& his Bushmen rule supreme(ly).
Charles R. Schwab, our
contemporary modest broker of great fame & leadership, was successful in
Sir John Templeton, just a few years my junior, needed a
Rhodes Scholarship to forget his
Similar animals roar their ads allover weekly & monthly
magazines. Personally, I abhor mutuals
because they encompass many of those falsified, partly tax-sheltered state
& city bonds for fast profit. The
bigger the company the bigger the fraud, not publicized as much by co-guilty
government officials, ombudsmen & the Attorney General of N.Y. who flights
only for voters in his state.
Carl Icahn was a great singer, a bit of a physician & a
practical philosopher. He became a typical
broker, a corporate raider & a successful reconstructor of Kaputt
businesses of immense sizes. He made
some fortunes, enriched his more silent partners & even small investors. He almost saved Marshal Field, Phillips
Petroleum & Transworld Airlines. Had
that flighty company’s other headmen not followed my advice to run that old
airline themselves, they wouldn’t have sunk in the hole dug for them by Arab
terrorists with Aryan Iranian consent. Muslims can do as they please, thanks to
Allah, the free entrepreneur.
Among teachers,
mutuals were explained as the safest & most – income producing
securities. I learned from experience
that such investment is most profitable for crooked share manipulators.
Fidelity investment still promises, huge long – term
interest added to the original customer’s payment. Franklin Templeton may have been guided by
his
Our local Jew – hater met me at the invitation of the
Oppenheimer Fund some decades ago. We
both were then satisfied with their operation of Mutuals.
Goldman Sachs had the similar, good reputation although I
never tested their waters full of mutuals which I later began to hate as
fraudulent. However, during good &
best times, nobody cares whether one can do a little better otherwise &
elsewhere. Fidelity investments remained
strangers to me.
Double entry was invented by
All economic thinkers had accepted the stock exchanges as
necessary interlopers as long as they publicized need for more investment in
important expansions of local economies.
The Aryan Schumpeter wanted ideas, ever more ideas, to support the
triumphant journey of business organizers, inventors and managers. But ever so often some famous conservatives
considered to close all patent offices because not much could be added to the
huge lists of needed goods and services.
How wrong they were!
Also, these clever conservatives economists, like their
liberal and forward – looking colleagues, couldn’t have foreseen what the
richest members who had paid their admission to the rulers of their stock
exchange groupies were going to make out of good services of this traditional
command ship.
Instead of nicely and orderly assigning individual and
companies’ contribution to expansions and faster development, the stock brokers
acted as if they owned everyone’s shares.
Since they received too modest percentages from these occasional flows
of capital, they began to deal with it in daily buy & sell tricks with the
customary commissions.
Some 55 years ago, a Smith of the
Not hearing from him for many months, I visited his plush
office. That scoundrel laughed: “Good
advertizing talk is protected by our Constitution – you know the free speech
etc. – Caveat emptor, May the buyer beware!
It was up to you to believe me or not”.
So he admitted that he was lying to a poor student when he tried to
study again for a higher degree.
I wanted to see the court declaration of the bankruptcy of
his Quicksilver mine. He got it from a
file & swung it away from me. I
grabbed it fast & discovered that the date of that court decision was long
before the evil broker offered me the $250 dollar share. Those days no lawyer worked “pro bono”, free
until a court paid him & me royally for that theft. My phone calls to lawyers met only requests
of another $200 down payment which I didn’t have.
Only Jon l’Orange whom I had watched growing up in Kona
made all possible efforts to be my honest broker-counsel. I mentioned him & his firm (now part of citigroup)
when a McSomething, then V.P. of Merril – Lynch branch in Hilo cheated me out
of nearly $2000 by delivering some sort of Hawaiian Trust mutuals after I had
insisted on tax-exempt Haw. Bonds.
Mentioning the name of Mr. l’Orange that big thief just insisted that
honesty bankrupted his firm.
Jon is no longer a stockbroker. His former firm cannot even make a change of
address after my 7 attempts to make them do it.
But they haven’t cheated me like Dean Witter & Edward Jones.
The Hilo Mc(Nut) even scolded this already octogenarian for
being stupidly trusting mere words: “It was your fault to assume that I was
obligated to get you HI tax free bonds when you asked for them over the
phone. This is a free country. You can leave your HI Trust & make a good
profit sometime in the future when there may be too much cash but too few solid
stocks. If you insist on getting your
cash back, you will lose nearly $2000.”
I accepted the beating but wrote them over to Dean Witter
whose local V.P. was Bobko who was also director of our Family Y.M.C.A. That big busybody swore he would never cheat
me like the Mc of Merry Lynch. If I
really wanted only Haw. Tax-exempt bonds for all my assured interest earning,
that would be what he would supply although I never saw any previous or future
bonds with my own eyes because all brokers use them for their daily stock &
bond policies – mutuals.
What a nice broker who made me only contribute $300 to
“his” Y’s summer fun for paying kids.
For a few years, he seemed only tough on “his” children who wanted
pleasure without too much sweating. But
when he got wedded to a rich French heiress, he added her name of distinction
to his own. This born-again broker
became less broke when he forgot his sacred pledge. He didn’t explain to an ancient know-nothing
why he had to cash in my bonds which rewarded me with high interest which was
not taxable.
Bobko – Hillinaire pledged to get me even better Hawaiian
bonds with potential huger profits. I
kept insisting they had to be tax-exempt interest income and should not cost
more than the 100% face value or a little less.
Like all our business, it was done over the phone. How phony it was! And it had been done already some time before
without my knowledge.
A few weeks later, I was informed that, as I had “demanded”,
Bobko – Hillinaire had got me the non-interest bonds at the rate of 10.59. I had no idea what that meant and phoned his
Kona office. The nice lady – in –
waiting “admitted” that she had neither any idea and added that her bossy boss
had left with his newly-wed the moment he had registered my deal with him. Did he say to his bride: “Now we can pay all
our expenditures?”
Long before I received his feedback, the now bigger and
better erst- while Dean Witter rebirth explained in a monthly statement I had
acquired some 5 Hawai’i Trust Bonds at 10.59
I didn’t understand but smelled the treachery, abuse of trust, terrorism
to the then octogenarian and obvious robbery.
Some months later, I reached the terrorist at his YMCA
office. With the taxation information
already in hand, I had to learn that the dishonest bastard had forced on this
then already very sick elderly victim his company’s mutuals which made me pay
only a little income tax but a lot of capital gains taxes. The “Y” people wouldn’t fire the crook, but I
didn’t spare my worst lingo on that despicable vice of a president when he asked
for another $300 don-ation.
I immediately signed them over to Prudential who sold them
at a moment they were quoted at a monthly high of just over 10. My loss was about $2000 plus waste of vain
efforts to get various state agencies and the S.E.C. to give them a good
rubbing for robbing. All excused
themselves. Also, chairman Leavitt of
the SEC ordered again mediation. I
needed no mediation on this general deal which, I knew, would cost me much more
than the $2000 loss.
Then the brokerhouse of Edward Jones proved to me that no
frail – looking aged investor should trust any broker, especially not manager
Manual “Roberto” (= “robber too!”). On the day he picked for the transaction, 2
former broker friends showed me on the computers that they were sold at a
discount of some 550. But the criminal
charged me the full $10,000, its nominal value (face). No
All brokers use every client’s stocks & bonds as if
they owned them. They get ever richer by
buying & selling them several times every business day. Thus brokers could gain every year more than
300 times their “small” profits. Those
handling huge investments, easily got ever new billions of dollars profit every
tax year.
They invented ever new kinds of shares by choosing
collections of available stocks for their own “mutuals” and similar unsavory
creationism. Before the junk bond began
to limit these robbers a little, they could convert their dishonest earnings
into new stocks about stocks. The
biggest thieves gave them fancy names to deceive those small investors who
looked too old or sick to find out their disloyalty in their supposed situation
as “counselors” to the ignorant.
Vice presidents, presiding vice, of Merryl Lynch, Dean
Witter and Edward Jones invented names such as “Hawaiian Trust” for their
piratal mutuals and “sold” them to the uninitiated as state-managed tax-free
bonds. When their victims finally found
out the fraud, they could only sell them back to these hoods at the lowest
possible notations.
Of course, the state ombudsmen and other possibly bribed
officials advised the very aged, relatively poor and incapacited victims of
daylight robbery to try and get the help of the federal S.E.C.
After many months of delay, the Security & Exchange
Commission again did nothing to police these rich monsters. Some of the low – level bureaucrats suggested
the grieved robbery victim should hire some good lawyer(s) and make him mediate
this matter. Thanks a lot, crooks of the
S.E.C. who had first lowly jobs with rich broker houses, were hired as experts
by the S.E.C. and were willing to work a few short years for the ferals
(federals) at lower salaries. Making
there all the great connections with purchasable politicians, they could go
back to their brokerage as highly paid legal and economic advisors at millions
more every year. No wonder that hundred
thousand more stockbrokers can make billions, pay the political campaigning
expenses for all crooks from President down to county dogcatcher.
Well – reputed lawyers now work “pro bono” if a culprit is
a high society spendthrift. If expected
fines through a partisan jury can promise to yield huge amounts, famous lawyers
are willing to work for the deprived at his yield of it, 20% - 60%. But when the evil robbers stole only a few
thousand dollars like in my 3 cases, there is no legal mind with good oratory,
better reputation or human understanding volunteering to work for chicken
peas. My silly expectation was a joke to
Smith: there was not enough quicksilver
in the old mines. Your stock has no
value. The engineering firm went
bankrupt.
How dare these terrorists to the oldest & sickest
victims call themselves counselors or “honest brokers”? Count Bismark of
Today’s biggest & meanest brokerage giant, Merrill Lynch,
started as harmless & honest bankers.
Charles E. Merrill (1855 – 1956) associated himself with Edward Lynch
for 16 years of banking & a few other jobs.
With various new partners & earned riches during war years they
became big & bad monopolists. Does
anyone still trust that monstrous firm?
But is their competition any better?
Selling & rebuying retirement securities, their daily routine has to
be & remain gnawing away at the expected nest eggs of the oldest &
sickest. How can a civilized nation
tolerate the existence of such & similar institutions of robbery?
Drexel, Burnham, Lambert…were clever investment brokers who
got rich & powerful by using high-risk, highest yield bonds to take over
not – too – cleverly – guided large
companies. Their “junk-bonds” were
usually “secured” by vague promises but hardly ever by capital & available
credit arrangement.
Joseph Kennedy got rich that way but as first SEC chairman
he made that a sort of crime, so judged by some courts. When finally condemned as a crime, Michael
Milken, their new initiator, paid for it in jail & immense fine. His Drexel…bosses who tolerated it, were just
fine after a fine.
As mentioned often, you see prison sentences only laid on
members of minorities. The billionaires
laugh off fines of a few millions.
Milken’s scholarships to thousands of decent students must be considered
redemption of his promising youth. But
do the Drexels & Enrons learn lessons?
When does Kenneth Lay, the lying chairman of Enron go to jail?
Jerome Kohlberg & Henry Kravis were trained by large
investment bankers. Together with
Roberts they became the kings of the leveraged buyouts of valuable but less
piratical corporations which became the pacesetter of the 1976 – 87 period of
aggressively rude capitalism in secret alliance with Reagan’s politicking. They felt as one in their beginnings,
invented “junk bonds” for which later users went to jail, especially some
minority group descendants.
Papa Kohlberg was of great political influence during the years
of combative President Truman. As head
of the “China Lobby”, he led the “Flying Tiger” widow & Senator Knowland to
make the “Nuke China Now” a possibility.
The younger Kohlberg married President Kennedy’s orphan
daughter, Caroline, the first Republican – Democratic alliance. A few years after, the Shriver girl,
Caroline’s cousin, married the muscleman from
Certainly, when money meets, dates & weds money, all
rules of private enterprise are their privy & nobody else’s business. The purpose proposes a sanctified need in the
history of a economics. It’s almost classical if not caste & cemented in
beton (mortar).
There is no ethical dilemma where there are no ethics. The Onassis intermezzo proves my point. Did John Jr. make a point when he skied into
a stubborn tree which wouldn’t evade royal onslaught?
For decades have the republicans denied the ever – growing
tax bible. Yet, it grew slowly until
2000. But since Bush ran interference,
his tax manipulations in favor of corporations & tanks demonstrate lies of
com(n)passionate Republicans. There are
now 60,000 pages to study of which the latest 15,000 pages can hardly be
understood even by learned accountants.
Wage earners don’t benefit from the 3 trillion Bush allowed
the big guys. The big chief economic
advisors praise the trickle down of what the invester doesn’t have to pay in
taxes to the government. If he starts new business with old investments, the
lucky topdog drops a bit of foul food into the pot of a heretofore
unemployed. That will be partly correct
if that enriched fortunate fellow didn’t invest all his loot abroad where he takes
ever more of his wealth not to be taxed at home.
Allan Sloan enlightens us as to who are the most heavily
taxed Americans. Not the corporations,
their bigwigs, not the insurance & health super-earners not the hardly –
ever – working biggest investors but the wage earners. He swears that ¾ of all American families pay
more for Medicare & Social Security taxes.
Up to an income of $87900 a year, those prededucted taxes amount to
15.3% of their income. Since few of
those 75% earn much less than this limit, those with more income pay only 2% of
up to their millions. Those with less
income gained very little of George B’s goodness to greed. The millions with incomes less than $25,000
saved nothing. You got to be really poor
and a very sick addict to medicines, to get some relief from pharmaceutical
monster prices.
Singles are singularly hit if they earn under $40,000; they
may get a 4% relief but ever more tax deduction if the earning is
lucrative. Earning a millions, your tax
get surely cut by 13%, & you know gimmicks which explain that great loot
away.
H & R Block shows US how to take advantage of a
complicated taxation terror. First he
expanded his large office. Next he
founded ever more branch offices until he seemed to own a whole empire of
supposed tax specialists in federal (I.R.S.) & state income taxes.
The moment he commanded an army of those tax-educated
office workers, smaller business – managements chose this source of income to
earn their slice of an American economy.
First simple adding machines of 2 or 3 brands began to
simplify the tax-preparation service.
Next the computers took over this task in full, including the automatic
filing of computation together with payment.
Perhaps the secret of his success is a little bit of a name
change. In fact, the big founders of
this convenience industry had inherited the name of Bloch from their
grandfather who was a scout for the great & best-known scout in the West,
Kit Carson, The thousands of Blok branches may prove that a name-change avoids
anti-Semitic terrorism which, hasn’t paid anywhere.
Somehow H. & R. Block gets US from the Second to the
Third industrial Revolution & above all, how to keep some riches within
these
Reagan wanted to degrade our federal government by first abolishing
the Department of Education. Had he been
educated at
made everyone wear earplugs,
muzzles or the black or red hood of the victim of the executioner.