The professions of banking and layering are seriously in economic trouble, despite recent touting by banking industry executives as negligent SEC lawyers are caught looking the other way, the stock market is in the middle of a three day dead cat bounce, caused by mouthpieces for Citigroup, JP Morgan and other parrots of the penniless purveyors of economic chaos.
Realtors, lawyers and bankers are gasping at their last breaths as property prices and mortgage portfolios continue to be slashed in value while at the same time market values for the words produced by excellent writers appears to be skyrocketing.
Recent mainstream press have been reporting for weeks on the troubles of the San Francisco Chronicle, the Seattle based Post Intelligencer and recently the Rocky Mountain News didn’t make it to its 150th Birthday Party.
Comes now the Penny King out of his Kingdom of Pen to make waves for thousands of professional journalists and writers who are about to lose their jobs due to the collapsed global economy, responsibility for which can be clearly laid at the feet of the globally greedy caused by bankrupt bankers looking to continue the charades of cashless value distributed through the dumbed down Federal Reserve System.
“The heart of America has been cancerous for many years now and if the global economy is going to survive it requires some serious surgery on the part of policy makers and money creators to stem the tide, despite recent pump and dump schemes and short covering on the thousand or more banks that are still in trouble while the FDIC shakes in its books due to its own insolvency,” said the Penny King in an exclusive interview for this story.
In an email sent to every writer and editor at the San Francisco Chronicle, the Penny King advised the executives and staff there that they should support a bid by the Kingdom of Pen to buy both the Seattle Post Intelligencer and the San Francisco Chronicle from the Hearst Corporation whose income has been plummetting for the past seven years and Hearst is itself heading for bankruptcy unless it shifts its old line publishing policies into something more modern.
The emailed letter, addressed to the Chairman of Hearst, George R. Hearst Jr. is encouraging Hearst to shut down all of its paper driven black and colored ink produced newspapers that are using outdated print media and go strictly with online electronic media.
The biggest risk in such a move is that electronic failures could cut off information flow if there was a national energy outage.
The billion dollar offer is geared not toward giving money losing Hearst more money for its actions of raping and pillaging millions of trees over the course of its’ decades long history, but paying writers and authors more for their time, energy and knowledge for online published works.
The billion dollars will go mostly to paying writers a dollar per word and ensures their continued future employment.
Under the terms of the arrangement writers would get one dollar per word credit at the Bank of Pen which dollar credits could then be used for such things as down payments on foreclosed homes, electric cars and electric bicycles sold through the Infinite Freedom Foundations of America, a successor to the failed Free and Clear Foundations of America, Inc., which was infiltrated and destroyed by covert operations run by U.S. Government agents under the direction of the CIA and the negligence of the SEC and FBI.
“We would normally give them federal reserve dollars and notes but recently the whole world has been waking up to the fact that too many of these things-these fictitious notes- have been created out of thin air and it is time for a new global currency – that is the mission of the Bank of Pen…to create an interest free currency for the commoner, starting with the writers and editors of the San Francisco Chronicle and the Seattle Post Intelligencer, it makes a great story don’t you think?”, asked the Penny King.
Under the new regime ruled by the Penny King through the infinite domain he controls, namely the Kingdom of Pen, editors would become subservient to writers, merely helping them check facts and correct typos and other grammatical errors and writers would become supreme in the electronic publishing industry.
“Without writers there would be no editors and it is not true that a failed writer edits”, said the Penny King who has been recently acknowledged by some mainstream media men as the worlds first bona fide authentic true to life trillionaire for his ability to create bailout money out of thin air.
The SF Chronicle lost more than $50 million last year. This year’s losses to date are worse. The Chronicle has had major losses each year since 2001.
Hearst Corporation (www.hearst.com) is one of the nation’s largest failing diversified media companies. Its major interests include ownership of 16 daily and 49 weekly newspapers that eat up tons of paper every day, including the Houston Chronicle and Albany Times Union; as well as interests in an additional 43 daily and 72 non daily newspapers owned by MediaNews Group, which include the Denver Post and Salt Lake Tribune; nearly 200 magazines around the world, including Good Housekeeping, Cosmopolitan and O, The Oprah Magazine; 29 television stations through HearstArgyle Television (NYSE:HTV) which reach a combined 18% of U.S. viewers; ownership in leading cable networks, including Lifetime, A E;, History and ESPN; as well as business publishing, including a minority joint venture interest in Fitch Ratings; Internet businesses, television production, newspaper features distribution and real estate.