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Deswegen hilft Ihnen Aktiendepot. So long as the penalty is less than the profit, the problem continues. An article in the Observer from July of referred to global banks as the financial services wing of the drug cartels, noting that HSBC, Britains biggest bank, had been called before the U. Senate to testify about laundering drug money from Mexican cartels, holding one suspicious account for four years on behalf of the largest drug cartel in the world, the Sinaloa cartel in Mexico.

The global drug trade is estimated to be worth roughly billion annually, with most of the money made in the consumer markets of North America and Europe. Using the example of the 35 billion per year cocaine market in the United States, only about 1. HSBC was accused of laundering the profits of the distributors. HSBC acknowledged, in an official statement, that, in the past, we have sometimes failed to meet the standards that regulators and customers expect.

Among those standards that HSBC sometimes failed to meet, according to the Senate investigation, were financing provided to banks in Saudi Arabia and Bangladesh which were tied to terrorist organizations, while the banks regulator failed to take a single enforcement action against HSBC.

HSBC put aside million to cover any potential fines for such activities, which is not uncommon for banks to do. Senate, the banks head of compliance since , David Bagley, resigned as he testified before the committee, commenting, Despite the best efforts and intentions of many dedicated professionals, HSBC has fallen short of our own expectations and the expectations of our regulators.

Meanwhile, just across the river from where Dorsey had committed his crime, executives from HSBC admitted before the U. Senate that they laundered billions in drug money, just as Wachovia had admitted to the previous year, with no one going to prison.

Too big to fail is simply another way of saying too big to jail. Of course, its not fair to put all the blame for international drug money-laundering on the shoulders of HSBC and Wachovia, as Bloomberg reported, Mexican drug cartels also funneled money through the Bank of America and even the banking branch of American Express, Banco Santander, and Citigroup. The theft was done through the manipulation of the public bidding process, something that the Mafia has become experts in with regards to garbage and construction industry contracts.

In short, the banking system actually functions like a Mafia cartel system, not to mention, taking money from the Mafia and cartels themselves. Over the summer of , another major banking scandal hit the headlines, regarding the manipulation of the London inter-bank lending rate known as the Libor.

The Libor rate, explained the Economist. Essentially, the Libor is the interest rate at which banks lend to each other on the short term, and is established through an honour system of where 18 major banks report their daily rates, from which an average is calculated.

That average becomes the Libor rate, and reverberates throughout the entire global economy, setting a benchmark for a massive amount of transactions in the global derivatives market.

Whereas the derivatives market is a massive casino of unregulated speculation, the Libor scandal revealed the cartel that owns the casino. The scandal began with Barclays, a year old bank in Britain, revealing that several employees had been involved in rigging the Libor to suit their own needs.

More banks quickly became implemented, and countries all over the world began opening investigations into this scandal and the role their own banks may have played in it. By early July, as many as 20 major banks were named in various investigations or lawsuits related to the rigging of the Libor. Prosecutors in the U. Canada and Japan were investigating collusion between the major banks on the manipulation of the Libor.

In June of , Barclays paid a fine to US and UK authorities, admitting its culpability in the rigging with a million settlement. The British Bankers Association was responsible for setting the Libor rate by polling roughly 18 major banks on their highest and lowest rates daily. Thus, rigging by one bank would require the co-operating of at least nine other banks in purposely manipulating their rates in order to have any effect upon the Libor.

Douglas Keenan, the former Morgan Stanley trader, wrote that, it seems the misreporting of Libor rates may have been common practice since at least As regulators were using words like organized fraud and banksters to describe the growing scandal, it was becoming common to refer to the major banks as functioning like a cartel or mafia.

The cartel manipulated the Libor for a great number of reasons, among them, to appear to be in better health by rigging their credit ratings upwards. Could one truly be surprised if it didnt work out Well, the Libor scandal is effectively based upon the same logic, except that the repercussions are global in scope.

Traders at the Royal Bank of Scotland referenced, in internal emails, to their participation in operating a cartel that made amazing amounts of money through the manipulation of interest rates, with a former senior trader at RBS writing that managers at the bank had condoned collusion. The same trader, who was later hung out to dry by RBS as a scapegoat, wrote in an email to a trader at Deutsche Bank that, It is a cartel now in London, where the Libor is established.

While the NY Fed corresponded with both the Bank of England and Barclays itself on the acknowledgment of interest rate manipulation, it never told the bank to stop the rigging practice.

An official at Barclays even informed the NYFed in that the bank was under-reporting the rate at which it could borrow from other banks so that Barclays could avoid the stigma of appearing to be weaker than its peers, adding that other participating banks were also under-reporting their Libor submissions. The New York Fed official replied: You have to accept it I understand.

Despite its against what you would like to do. Several months later, a Barclays employee told a New York Fed official that the Libor rates were still absolute rubbish. The BBAs oversight of Libor dates back to , when the City of London Britains Wall Street had begun an experiment to establish a new way of setting interest rates, asking the banking lobby group to set the rate in when the Libor began. A British regulator, in the understatement of the century, stated, There is an apparent lack of transparency, adding that the BBAs committee doesnt appear to be sufficiently open and transparent to provide the necessary degree of accountability to firms and markets with a direct interest in being assured of the integrity of Libor.

In an April meeting with officials at the Bank of England, Angela Knight, the head of the British Bankers Association, suggested that the BBA perhaps should no longer be responsible for oversight of the worlds most important number, which had become too big for the BBA to manage.

No one at the meeting cared enough to do anything about it, however, and so nothing changed. But on the plus side, everyone was getting away with it. So indeed, there was no incentive to change the system. From the point of view of those managing it, the Libor was functioning as it should.

A cartel was established because a cartel was desired. The fact that it was all highly illegal, fraudulent, and immoral was and is beside the point.

Mexican drug cartels do not worry about the legality of their operations because they are, by definition, illegal. They worry simply about getting away with their illegal operations. The same can be said for the global banking cartel. So long as they get away with criminal cartel operations, there is no incentive to change the system, and instead, there is only an incentive to expand and further entrench the cartels operations.

A law professor at the University of Toronto who was hired by the regulator to study the case commented that, international cartels are of a significant concern for the Canadian economy. A lawsuit was being filed by several homeowners in the U. Banks had sold roughly billion of interest-rate swaps in the derivatives market to municipalities before the financial crisis, with roughly billion of those swaps tied to the Libor. As one legal expert who studies derivatives told Bloomberg.

Almost all interest-rate swaps begin with Libor. This prompted several states in the U. Life Under the Global Cartel While the global cartel of criminal banks rig rates, launder drug money, fund terrorists, engage in bribery, fraud and demand multi-trillion dollar bailouts from our governments effectively selling their bad debts to the public , and then give themselves massive bonuses, they are also demanding through what is called market discipline that our governments deal with our debts by undertaking policies of austerity and structural reform, which are euphemisms for impoverishment and exploitation.

Thus, after the cartel helped create a massive financial crisis, and after our governments rewarded them for their criminal activity, the cartel now demands that our governments punish their populations into poverty and open their economies, resources and labour up for cheap and easy exploitation by banks and multinational corporations.

This is referred to as the solution for getting out of the Great Recession, and which is sure to great a Great Depression. Greece is now two and a half years into its austerity and adjustment reforms, with its debt growing as a result, poverty exploding, misery spreading, health, education, welfare rapidly declining, suicide rates and hunger increasing, as the Greek people are subjected to a program of social genocide.

Market discipline demands austerity and adjustment, or in other words, class warfare creates poverty and exploitation. In any other scenario, this is called terrorism or in the very least, extortion: This is what former U. Treasury official Roger Altman referred to in the Financial Times as the new global supra-government who can force austerity, banking bail-outs and other major policy changes, and thus, have become the most powerful force on earth.

Either they follow the orders of the cartel which we commonly refer to as the invisible hand of the free market or they directly challenge the most powerful force on earth. In the global economy, a small country like Greece standing up to the global supra-government is much like a small Greek restaurant trying to stand up to the city Mafia. Beginning in , roughly 20 states across the U. Even the institutions which are the most militant in demanding austerity measures, such as the European Union and the IMF, have acknowledged in recent reports that countries which pursue austerity to supposedly reduce their debts end up getting much larger debts as a result, and that such measures are actually extremely damaging to economies.

This is not news, of course, since there is a rather large sample of data from the past 30 years of forced austerity and adjustment measures across Africa, Asia, and Latin America at the behest of the IMF, World Bank, western governments, and of course, the cartel , which show quite clearly the effect that austerity and adjustment have in rapidly expanding poverty and facilitating exploitation.

As austerity is hitting several U. The population is essentially punished for the crimes of the global cartel, while public employees, pensioners, welfare recipients, teachers and workers get the blame. In a statement to Congress signed by the 80 CEOs, the American branch of the global cartel its most significant branch , demanded that policies be enacted immediately, though implemented gradually, to give Americans time to prepare for the changes in the federal budget.

Among the demands are to reform Medicare and Medicaid, healthcare, Social Security, increase taxes, and generally reduce spending. All of this amounts to a large federal program of austerity, to cut social spending and increase taxes on the population, thus impoverishing the population. This, in the words of the letter to Congress, must be bipartisan and reforms to all areas of the budget should be included.

Congress lecturing the U. The solvency, productive capacity, and stability of the United States, as well as its moral authority as a global leader, require that its fiscal challenges be credibly met. The Wall Street Journal. The consequences of inaction on the U.

In other words, the U. The Offshore Economy in the Age of the Global Plutonomy While people are being forced into poverty to pay off the bad debts of the super-entity global banking cartel of drug-money laundering banks which make up the global supra-government, the richest people in the world have been hiding their wealth in offshore tax havens, and of course, with the help of those same banks.

James Henry, a former chief economist at McKinsey, a major global consultancy, published a major report on tax havens in July of for the Tax Justice Network, compiling data from the Bank for International Settlements BIS , the IMF and other private sector entities which revealed that the worlds superrich have hidden between 21 and 32 trillion offshore to avoid taxation.

This offshore economy is large enough to have a major impact on estimates of inequality of wealth and income on estimates of national income and debt ratios and most importantly to have very significant negative impacts on the domestic tax bases of source countries. John Christensen of the Tax Justice Network commented that, Inequality is much, much worse than official statistics show, but politicians are still relying on trickle-down to transfer wealth to poorer people This new data shows the exact opposite has happened: Roughly 92, of the super-rich, globally, hold at least 10 trillion in offshore wealth.

In many cases, the worth of these offshore assets far exceeds the debts of the countries that they flow from, the same debts that are used to keep these countries and their populations in poverty and a constant state of exploitation. The process of hiding this wealth is largely facilitated by the major global banks, which compete with one another to attract the assets of the worlds super-rich. James Henry explained that the wealth of the worlds super-rich is protected by a highly paid, industrious bevy of professional enablers in the private banking, legal, accounting and investment industries taking advantage of the increasingly borderless, frictionless global economy more of that free market magic.

As the report revealed, for many developing countries the cumulative value of the capital that has flowed out of their economies since the s would be more than enough to pay off their debts to the rest of the world, debts which are largely illegitimate as it stands.

This trend is exacerbated in the oil-rich states of the world such as Nigeria, Russia, and Saudi Arabia. The problem here is that the assets of these countries are held by a small number of wealthy individuals while the debts are shouldered by the ordinary people of these countries through their governments.

With roughly half of the worlds offshore wealth belonging to the top 92, richest individuals, they represent the top 0. The very existence of the global offshore industry, and the tax-free status of the enormous sums invested by their wealthy clients, is predicated on secrecy.

A report from Citigroup coined the term plutonomy, to describe countries where economic growth is powered by and largely consumed by the wealthy few, and specifically identified the U. Canada, Australia, and the United States as four plutonomies. Keeping in mind that the report was published three years before the onset of the financial crisis in , the Citigroup report stated: Asset booms, a rising profit share and favourable treatment by market-friendly governments have allowed the rich to prosper and become a greater share of the economy in the plutonomy countries, and that, the rich are in great shape, financially.

As the Federal Reserve reported, the nations top 1 of households own more than half the nations stocks, and they also control more than 16 trillion in wealth more than the bottom The term Plutonomy is specifically used to describe a country that is defined by massive income and wealth inequality, and that they have three basic characteristics, according to the Citigroup report: They are all created by disruptive technology-driven productivity gains, creative financial innovation, capitalist friendly cooperative governments, immigrantsthe rule of law and patenting inventions.

Often these wealth waves involve great complexity exploited best by the rich and educated of the time. There is no average consumer in Plutonomies. There is only the rich and everyone else. The rich account for a disproportionate chunk of the economy, while the non-rich account for surprisingly small bites of the national pie.

Citigroup strategist Ajay Kapur estimates that in , the richest 20 may have been responsible for 60 of total spending. Plutonomies are likely to grow in the future, fed by capitalist-friendly governments, more technology-driven productivity and globalization.

He further explained that increased debt levels are a sign of plutonomies: We have an economy today where a large fraction of the population doesnt pay federal income taxes and, because of demand for entitlements, we have a system of massive representation without taxation. On the other hand, you have plutonomists who protect their turf and the taxation amounts are not enough to pay for everyones demand.

So Ive come to the conclusion that budget deficits are biased toward getting bigger and bigger. Budget deficits are going to become a manifestation of a plutonomy. This is a trend that has been accelerating for several decades, particularly in North America and Britain, where the middle class population is heavily indebted.

The middle class has existed as a consumer class, keeping the lower class submissive, and keeping the upper class secure and wealthy by consuming their products, produced with the labour of the lower class. The most advanced plutonomies in the world are the most advanced industrial and technological nations, where the major corporations and banks are highly subsidized and protected by the state, as is typical for a state-capitalist society.

While the industrial and rich northern state-capitalist societies were able to industrialize and grow rich through highly protectionist measures, the poor south of the world Africa, Asia, Latin America were subjected to free market policies which opened up their economies to be exploited and plundered by the rich northern nations.

No country has ever become an industrial power by implementing free market policies, but rather, by doing the exact opposite: While the Third World was forced to implement free market policies in order to get loans, the predictable result took place: The Third World states were run by tiny elites who dominated the countries politically and economically, and who hid their stolen wealth in foreign banks and offshore tax havens.

Now, in the midst of the global economic crisis which has been ravaging the world for the past four years, the rich northern countries are themselves implementing the same free market policies, though designed to subject their populations to market discipline while maintaining and in fact increasing the protectionist and subsidized policies for the multinational corporations and banks.

It is important to note that market discipline and actual free market policies are exclusively designed for the general population, not the elite. Workers, students, the elderly, the poor and the many are to be subjected to market discipline while the banks and multinational corporations continue to be heavily subsidized as the largest national welfare recipients and protected by the state.

Thus, just as our banks and corporations have plundered the Third World with rapacious delight over the past three decades, now they will be able to do the same to the populations of the rich nations themselves.

The state will transform, as it did in the Third World, into a typically totalitarian institution which is responsible for protecting the super-rich and controlling, oppressing, or, in extreme cases of resistance, eliminating the problem populations i.

Welcome to the global plutonomy in the age of austerity, the result of living under and tolerating a global super-entity corporate-financial cartel. Truly, one must pause and, if only for a moment, appreciate the ability of this global cartel to function so effectively in spite of its blatant criminal activities, and face almost absolutely no repercussions.

Something truly is wrong with a society when a poor black man caught with 5 grams of crack-cocaine goes to prison for ten years, while rich white bank executives admit to laundering billions of dollars in drug money and receive only a fine and a slap on the wrist maybe. The lesson is clear: If you are in the drug trade: If you dont want to pay taxes, be a member of the top o. If you want more, create a global economic crisis, demand to be saved by the state to the tune of tens of trillions of dollars, and then, tell the state to punish their populations into poverty in order to pay for your mistakes.

In other words, if you want to indulge your criminal fantasies, lie and steal, profit from death and drugs, dominate and demand, be king and command, become the highly-functioning socially-acceptable sociopath you always knew you could be think big.

Serial killers, bank robbers and drug dealers go to jail bankers get bailouts and get an unlimited insurance policy called too big to fail. Andrew Gavin Marshall is an independent researcher and writer based in Montreal, Canada, writing on a number of social, political, economic, and historical issues.

Taken to the cleaners, 20 July Lawsuit, Forbes, 15 October Muni Credit, Bloomberg, 9 October Jason Cherkis, A Thousand Cuts: Derek Thompson, American Austerity: The Maple Spring and the Mafiocracy: Struggling Students versus Entitled Elites It says a great deal about our society when hundreds of thousands of students already largely indebted, a significant portion of whom live well below the poverty line, who already work what few jobs exist for a generation forgotten before we leave home take to the streets in protest and are portrayed as entitled, spoiled brats as they attempt to negotiate their very chance of having a future in this society with a government that supports and works with organized crime, which is beholden to an economic elite, and which supports only those who can already support themselves.

There is something deeply wrong with a society in which students who struggle for a very chance in life are insulted, degraded, beaten, arrested, humiliated and denigrated. First, we were told for years that we were lazy and apathetic: We were seen as concerned only with self, worshipping of wealth, and with celebrities like Paris Hilton and whatever Car-crashian disaster is on reality TV this week, who could blame people for thinking this Our media raised us.

Public relations agencies raised us. They have told us what to wear, how to behave, what to drink, what to eat, what to listen to, dance to, sing to, who to speak to, who to admire, who to hate, what to spend time thinking about, what to be concerned about, what and how to think and be.

We were set up to be Generation Obscurity. But then, something changed: For those of us who grew up middle class, we started to have a harder time getting by. We worked while we were in high school, but that was okay, the extra money was nice. But then we graduated and it was time to begin our lives.

So we either worked full time, or went to school, and probably work part-time. School is expensive, and whether you live in Quebec, the rest of Canada, the United States, or a great host of many other places, school is more expensive for us than it was for our parents. Our minimum wage might seem higher, but the cost of living has soared since our parents were getting their first few jobs, so in real terms, we earn much less.

So we lived and often continue to live at home while we go to school or even while we work. With rent so high, and cities so expensive, who can afford their own space in this crazy kind of place School was still too expensive, even as we worked and as our parents helped however they could. After all, they were and are struggling too.

So we got student loans. And now were deep in debt. Suddenly, our world was thrown into a deep economic crisis. Most of us dont know how this came to be, or who is responsible, all we know is that we only did what we were told to do: And what did that do for us Were in debt. All we know is that even though we didnt cause this global crisis, we are being held responsible for it. All we know is that we are told we are in a recovery, but we dont feel like it.

How many people truly feel more financially secure now than they did in Do you I dont But now we are told that we are in a recovery because those who caused the economic crisis are doing much better.

In fact, many of them are doing better than ever During the crisis, our governments said we had to bail out the banks that had colluded with the governments to create the crisis in the first place. We were scared, so we sat back and watched as our governments gave banks blank checks. First, I should add, our governments worked with the banks in passing or dismantling laws and regulations, implemented policies, undertook joint programs, spent enormous sums of money between them, as our political leaders left office to sit in bank boardrooms, and as bankers left the private vaults to the public treasury.

This relationship between big business, big banks, and big government most emblematic in the central banking system, in which private banks with public powers control the very value of our currencies , is what created the economic crisis.

And when that crisis erupted, those same governments gave those same banks more money than ever before, to ensure that they were rewarded for creating such a massive global crisis. At the same time, the governments then gave themselves even more power over the economy and their own social and political environments, all the while ensuring that the banks and corporations were involved in every decision, and would benefit from every outcome.

So those who caused the crisis rewarded themselves with more money and more power than they had when they created the crisis in the first place. At the same time, we, the people, have to pay for everything. We have to pay with increased taxes remember, that bailout money has to come out of YOUR pockets , with rising prices for food and fuel, with inflated property prices if they werent already collapsing, in which case, we face potential foreclosure , with increased debt not even to consume, but simply to subsist with decreased jobs, with unemployment, with increased homelessness, increased reliance upon food stamps, increased welfare and state assistance which comes with intense scrutiny of your personal finances and life , and now, with austerity: But remember, we have to suffer under austerity so that our governments can pay for all the rewards they gave to the banks for making us suffer.

This is called Capitalism. Now, take Canada as an example. Canada is perhaps the best example to use in this situation because, lets face it: Our banks, in fact with five Big Banks that dominate the economy are consistently rated as among the worlds strongest banks. And we better believe Moodys, because they failed to predict the economic crisis itself, and as their CEO even admitted when questioned about the agency being funded by Wall Street firms, potential conflicts exist regardless of who pays.

For four years in a row, the World Economic Forum has rated Canadas banking system as the most sound in the world. Even the Canadian Bankers Association praises Canadas banks. Imagine that Unfortunately for their self-congratulations, it was recently revealed that Canadas banks actually received a secret bailout in , for a total of billion, or 3, for every Canadian man, woman, and child. The government continues to deny it gave the banks a bailout, instead, our Finance Minister insists, it was just liquidity support , which means the government did not bail out the banks with public money, it just gave the banks public money in support.

Call it what you will, they gave them billion. Mark Carney, the Governor of the Bank of Canada our central bank , and a former executive with Goldman Sachs whats not to love , even admitted that the Bank of Canada gave tens of billions of dollars to our private banks.

Federal Reserve provided 33 billion to Canadas big banks, while the official numbers of what the Bank of Canada provided remain a secret, as the government has refused to respond to Access to Information requests on the subject. Available information, however, points to 41 billion given to our banks by the Bank of Canada by December of Even some foreign banks had access to money from the Bank of Canada.

Oh, excuse me, I mean, liquidity support. And now, these same banks have inflated a major housing bubble in Canada which is eerily similar to that which existed in the United States in , with housing prices dangerously high, and the average household debt at , But dont worry, these big five banks made record profits in So naturally, with record profits for banks, and record debt for Canadians, the banks have decided to increase their fees on you And then their profits continued to increase.

Naturally, the executives have been giving themselves bigger bonuses than ever. This is called an economic recovery. And remember, its the students in Qubec who are entitled.

People call the students spoiled and entitled because they pay less than 2, for tuition every year, and are trying to prevent a situation in which they will be paying roughly 4, per year. But the big banks, making record profits, got the equivalent of 3, from every single man, woman, and child in Canada.

But thats not called entitlement, thats called Capitalism. So, the banks are doing better than ever, and this means we are in a recovery. Starting in the year , Canadas corporations and banks started having their taxes cut significantly by the government, whether Liberal or Conservative. In , corporate taxes were at 28, and by it was at In the beginning of , corporate taxes in Canada were at This was all, of course, done to create jobs.

That is, after all, what we were told by our politicians who insisted it was the right thing to do. At the moment, Canada has a rather significant unemployment rate.

In , the unemployment rate for Canadians was 4. In , the unemployment rate for Canadian youth between the ages of 15 and 24 was at 8. In the same period of time, corporate taxes were cut from 22 to 15, with the stated purpose of creating jobs. Now, the unemployment numbers are themselves misleading, because they only actually refer to those who are on some form of government assistance, such as welfare or employment insurance.

The rest of the unemployed are not counted. While the corporate tax cuts did not lead to more jobs, but rather, less they did lead to more money for the corporations and banks. By , Canadian corporations and banks had hoarded billion in cash reserves as money that was saved from taxation. For every percentage decrease in corporate taxes, the government loses 2 billion in potential revenue.

In response, the government turns to austerity measures, which means that you have to suffer and pay for everything, especially your own poverty. Poverty is, after all, very expensive. In , these record profit-making corporations are getting an extra 2. Even as Stephen Harper cut the taxes further, he acknowledged that the corporations werent actually investing their saved money in jobs but that it was just money sitting on the sidelines.

Since , the cash reserves of Canadas corporations have grown by So what can we conclude from this Well, when politicians and corporations and banks say that they are pursuing a particular policy to create jobs, what they really mean is to create profits.

So when a politician says, We need to cut corporate taxes so that they can invest in jobs, what is really being said is that, We need to cut corporate taxes so that they can make profits. This makes more sense, because this is what actually happens.

So its not so much that politicians lie, but rather that they just speak a different language. So take note, and I guarantee this is a very accurate method, in political-speak: So now when you listen to your selected officials blather on, youll actually be able to understand what they are saying. Oh, and in case you forgot, remember: Just making sure you remember that.

In Canada, we have a situation in which total national student debt is at 20 billion. But dont worry, increased tuition costs and increased student debt is good for the banks, because they provide a lot of the loans and own the debt, and collect the interest and keep you in their pockets for the rest of your life.

And remember, if the banks are doing well, the economy is doing well. You dont matter at all. Okay, so total student debt in Canada is at 20 billion, with the average student graduating with 27, in debt, few job prospects, high unemployment rates, and in a major social and economic crisis, but the Canadian government is buying 65 F fighter jets from the U. So, we can bail out our banks to the tune of billion, and we can spend 25 billion buying military machines to go bomb and kill poor people around the world, but students shackled with 20 billion in debt must be shackled with more.

And if they try to do anything about the increases in tuition, and thus, the increases in their debt, Canadian politicians and the media refer to them as entitled, spoiled brats. Here are a few numbers to show the current divide between the rich and everyone else in Canada, what we are told is a hallmark of a flourishing democracy and recovering economy: With Jean Charest as Qubecs premier, attempting to nearly double student tuition from an average of over 2, to nearly 4,, it might be interesting to look at what Charest paid for his education.

Charest studied in Sherbrooke in the late s, where he would have paid for tuition, less than 2, in todays dollars. In , the minimum wage for those students who needed to work to pay their tuition in Qubec was 3. In todays dollars, that would equal 12hour, while the actual minimum wage in Qubec today is 10hour. Therefore, wrote McGill University professor Michael Hilke, it was easier for students to pay for college back then. But Charest calls us entitled. In point 7 of my article, Ten Points Everyone Should Know About the Quebec Student Movement , I provided sources and information regarding the deeply interconnected relationship between the government of Qubec, especially with Charests Liberal Party in power, the corrupt construction industry, and the Mafia.

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It has been estimated that in 18 years, a four-year degree for Canadian students will cost , But the big banks, making record profits, got the equivalent of 3, from every single man, woman, and child in Canada.

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