Too Big to Fail — Conspiracy by Fiat

“We spend all of our time in relationships with other people and things. How and where and with whom we invest our time within these relationships is governed by the rituals we build to service them.” - Jeff Einstein
AllenCo-Conspirators arrive in Sun Valley to decide the fate (and price tag) of the free world...
AllenCo-Conspirators arrive in Sun Valley to decide the fate (and price tag) of the free world…

Each medium comes with inherent biases. The printing press, for instance, promotes linear thinking and reason. Electronic media promote distraction and emotion. Excerpted from my essay, The Rise of Fascism in a Brave New Digital World

Despite the self-serving commercial myths of those who profit most from digital media, the true bias of digital technology is neither personal empowerment nor freedom. The true bias of digital technology is the efficient and accelerated consolidation of institutional power and wealth among those institutions — corporations and government agencies alike — already far too powerful and far too wealthy. The real bias of digital technology benefits most those massive corporations and government agencies that singly and together already manage and manipulate terabytes of data each and every day.

The result is more conspiracy by fiat than design. Big government agencies and their big corporate counterparts all emerge bigger, wealthier and more powerful as the primary bias of digital technology to consolidate additional power and wealth among those already too powerful and too wealthy asserts itself each and every time they sit down to negotiate with each other. Conspiracy by design is simply no longer necessary when conspiracy by fiat satisfies the same ends and — conveniently — offers plausible deniability to everyone and accountability to no one.

“Fascism should more appropriately be called Corporatism because it is a merger of state and corporate power.”
— Benito Mussolini

What we call government regulation these days is in fact corporatism at work, little more than a tool-driven marriage of convenience among incestuous alumni of the same Ivy League MBA programs. Witness the fact that the financial institutions deemed too big to fail back in 2008 are — for the most part — twice the size and only half as accountable today, not in spite but precisely because of government regulation. Contrary to what the ruling elite of the Brave New Digital World tell us time and again, too big to fail isn’t the unfortunate result of our failure to plan. Too big to fail is the plan.


Eat All You Want. We’ll Make More.

“Artificial intelligence is where we currently deposit all of our hopes for a better future through digital technology -- largely because we have no faith in our own intelligence anymore (for obvious reasons).” - Jeff Einstein
too big to fail
Too big to fail IS the plan…

By Jeff Einstein

Note: the following article was first published by MediaDailyNews in September, 2012

No one needs too big to fail as long as Ben Bernanke and the Federal Reserve are willing to give the banks half a trillion dollars a year ad infinitum — just the latest installment of the grandest grand larceny in history.

The biggest banks at the time of the market crash in the fall of 2008 are much bigger now, thanks to their friends and collaborators in Washington, D.C., and the Federal Reserve.  And much less obliged or inclined to act responsibly, thanks to an endless flow of cheap money at zero interest.  “Eat all you want,” Ben tells them.  “We’ll make more.”

But that’s why the Federal Reserve was created in the first place, way back in 1913. It was created to protect and promote the interests of the biggest banks and bankers, plain and simple, and to provide them with a bottomless reserve of public dollars to fund and protect them from the failures of their own high-risk capers.  It was and remains — a century later — our purest example of socialism for the wealthy.

Contrary to all the talking heads on TV, the Federal Reserve was never created to stabilize the market.  Indeed, quite the opposite: The greatest transfers of additional wealth to the already wealthy always occur at moments of greatest market chaos and panic. If anything, the Federal reserve destabilizes the market by promoting and funding risky behavior by the biggest banks.

Too big to fail is not the obvious consequence of our failure to plan.  Too big to fail is the plan.

And it’s perfect.  The 21st-century confluence of digital scale and 24/7 news provides the perfect cover for the perfect plan.  The numbers — like the institutions they support and promote  — are simply too big to fail, and far too big to reconcile after any crash.

Per Marshall McLuhan’s observation half a century ago, our tools and our media have begun to operate in reverse.  “We shape our tools,” he said, “and thereafter, our tools shape us.”

True enough: rather than reveal and enlighten, they obfuscate and confuse.  Rather than more accountability, we have less — much less.  The media, once perceived as the guardians of truth, have turned against us.  Now they guard the foxes, while the foxes raid the chick coup.

No one in here but us chickens.  Good thing, because all that’s gonna be left after Ben Bernanke and his cronies in Washington and big media get through with us is chicken feed.

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