Queen of Comedy: 1940s

Tracey Ponsoldt Powers, or “daughter,” made a revealing request in October 2008 asking for some of the money to be moved to Panama and then converted into gold coins. She wrote to Owens: “I feel VERY unsettled with this election and how the media is censoring information and spinning the American Public to vote Obama. It is so obvious to me, that they are setting us up with a Socialist — but most people can’t see it happening before their eyes! It’s like propaganda that is brainwashing Americans to forget the Principles of Hard Work, Ingenuity, Risk and Boundless Success! [sic]”.

New Panama Papers revelations highlight use of tax havens by wealthy US clients By Josh Varlin 8 June 2016

Is this one reason the bourgeoisie worship markets? Because they cannot rely on their own thinking to respond to events in the real world?

The Lehman Brothers bankruptcy was that September. Capital's response to it was outlined within a very close circle. President Bush was not a direct participant and certainly William Ponsoldt and his children were outsiders as well along with their entire social layer, intermediate between the working class and the commanding heights of capitalism. That candidate Obama's reaction was calm and reassuring as the world's financial system teetered contrasted him to the Republican Party's candidate who showed hesitation and misgivings about what must be done. In what was then a close race it is not unreasonable to perceive that the desire to preserve the existing political-economic system may have been an influence on voters as well as on currents in the country's electoral superstructure. Enough to tip the balance to the Democrats.

Nevertheless, Ms. Powers assertion that "they are setting us up with a Socialist" was certainly untrue at the time and has not become any more accurate over the last eight years. Although widely believed it doesn't require the effort to disprove. That's not why I am bringing it up. I'm doing it because there is a world there, not so much of illusion as of class intuition.

Was there a ruling class conspiracy to install, not a socialist, but a Democrat in the White House? To a socialist it makes no sense that the media, well integrated into empire and capital, would propagandize against capitalism. But to a current of the Republican Party, strong since the thirties but not always dominant, it is revealed truth. In the Democratic Party labor has conducted negotiations with capital on the premise that they share an interest in a stable social order. The result, since the thirties, has been an alteration of the class struggle here and globally.

In that context a Democratic administration may appear a safer bet during the sudden emergence (reemergence?) of a profound economic crisis such as that of September 2008. The ruling class does not meet and vote, as such, for the president. But a shift in its interests will certainly influence the atmosphere of an election. At its highest levels this class is neither Republican not Democrat. Individuals may be and may be fanatically so but in their class interest they are prepared to deal with either party. The current nominee of the Republican Party has been quite open about this.

But that truth has become heresy within his party. It has always harbored and often relied upon those who are repulsed by any admission of the need to negotiate with workers as a class. Where the Democrats and the unions have drawn a veil over the class struggle these Republicans have kept firmly focused on the class enemy, and an unwillingness to share political power.

There is more to the hard line than partisan fighting. There are "principles of hard work" etc. These are principles for the entire society, all of its classes. They transcend class, even obliterate it. But, however ardent this ideology, however commonplace its tenets, it is not the law. The law is private accumulation of surplus value. There are many principles that are able to serve this law, depending on the circumstances. There are also many private interests that may be called upon to sacrifice themselves in the name of accumulation.

In a crisis those who are loyal to "principles" will not perceive that their principles are false or that they are being sacrificed for the greater good of capitalist stability. They will perceive that the enemy has taken power. They will invent an enemy that has overthrown the rightful rulers of this land. They will deny that there is even a true crisis, only a conspiracy to upend the smooth functioning of a divinely sanctioned system.

At times like these one's only true friend is gold. The very substance of value, gold seems innocent of the abstractions of wealth which now appear open to corruption by the machinations of the enemy. Machinations which before now had been friendly helpers in the piling up of riches. And, it is at times like these that the socialist is reminded that the economic theory of the owners of capital remains without an explanation for crisis. What we are offered here, and, simple as it appears, it is not unrepresentative, is this:

It seems like a nightmare but it is happening so fast. The Media is behind all of this and I can't help think that sudden economic collapse was caused by the President creating fear in the market. Why did he announce to the world that Congress had to pass the bailout in 24 hours? He set the expectations for failure--and caused a run on WallStreet. Everyone knew these credit problems existed--the question I keep wondering is that somehow the President was tricked into launching the economic crisis to catapult Obama with the VOTERS.

What was accomplished during the subsequent eight years was the containment of the crisis, not its resolution. Capitalism has not been restored to a solid foundation. For so many reasons that is not possible. Neither, despite Ms. Powers theory, has socialism been installed in America. Instead, the crisis remains, off-camera and growing. What also remains is the fear.

The complete text of "Daughter's" letter from the Panama Papers:

From: Daughter
Sent: Jueves, 23 de Octubre de 2008 05:18 a.m.
To: Ramses Owens - Lawyer
Subject: RE: TAWLER
I need to think about that transfer for 5%. Wasn't there some option to transfer a certain amount for charity once annually? Also, I want to throw something by you . I had a wierd dream about all that's gone on in the U.S. lately. My thought was something monumental will happen soon to reset the clocks of our financial system. Do you think the following is possible?--that the U.S. comes to a conclusion that the dollar must be "reset",There is just too much debt which is why they don't care about using all these billions!. and since there's no more gold standard, the U.S. basically begins a new currency standard making the current dollar near worthless and for all intensive purposes massively devaluing much of our debt with China and elsewhere? Kind of like, anyone who has the current dollar or is owed the current dollar, will have it's share diluted 10/1 while the new currency will take over --maybe some kind of int'l currency with multiple countries??? Could this happen? I am thinking maybe I should buy some gold -- not shares--real gold coins, or maybe platinum. What do you think? I feel VERY unsettled with this election and how the media is censoring information and spinning the American Public to vote Obama. It is so obvious to me, that they are setting us up with a Socialist-- but most people can't see it happening before their eyes! It's like propaganda that is brainwashing Americans to forget the Principles of Hard Work, Ingenuity, Risk and Boundless Success! Obama ads are on TV on every channel on every radio station--they are on every internet link, they are even inside children's toys -- Guitar Hero!!! It's like the American Dream is disappearing out of everyone's mind and they just want government jobs and the government to take care of them. It seems like a nightmare but it is happening so fast. The Media is behind all of this and I can't help think that sudden economic collapse was caused by the President creating fear in the market. Why did he announce to the world that Congress had to pass the bailout in 24 hours? He set the expectations for failure--and caused a run on WallStreet. Everyone knew these credit problems existed--the question I keep wondering is that somehow the President was tricked into launching the economic crisis to catapult Obama with the VOTERS. What is your view about Obama for America and do you believe he is good for America or dangerous? What does Dirk think about what is happening. I can't help feel that America is now officially a fallen Empire--making way for China in the history books. It's hard for us to believe we are seeing it happen in a matter of a few months. I just think another huge thing is headed this way--what are your theories? I want to be prepared.