BlackRock’s Rise Shows the Dark Direction of Monopoly Capitalism, by Rainer Shea

Vampire Squid

Image by DonkeyHotey via Flickr

Updated: July 12, 2020

by Rainer Shea
Writer, Dandelion Salad
Rainer Shea: Anti-Imperialist Journalist, June 30, 2020
July 1, 2020

Matt Taibbi concluded that the 2008 Wall Street bailout had “built a banking system that discriminates against community banks, makes Too Big to Fail banks even Too Bigger to Failier, increases risk, discourages sound business lending and punishes savings by making it even easier and more profitable to chase high-yield investments than to compete for small depositors.” In this post-crash environment, the largest financial institutions gained more of a hegemonic grip than ever, with the five biggest banks having come to own almost half the industry by 2015.

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Meet BlackRock, the New Great Vampire Squid, by Ellen Brown

Capitalism Is Crisis

Image by Steffi Reichert via Flickr

by Ellen Brown
Writer, Dandelion Salad
The Web of Debt Blog, June 22, 2020
June 23, 2020

BlackRock is a global financial giant with customers in 100 countries and its tentacles in major asset classes all over the world; and it now manages the spigots to trillions of bailout dollars from the Federal Reserve. The fate of a large portion of the country’s corporations has been put in the hands of a megalithic private entity with the private capitalist mandate to make as much money as possible for its owners and investors; and that is what it has proceeded to do.

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Another Bank Bailout Under the Cover of a Virus, by Ellen Brown

Rich Uncle Pennybags

Image by Sean Davis via Flickr

by Ellen Brown
Writer, Dandelion Salad
The Web of Debt Blog, May 18, 2020
May 19, 2020

Insolvent Wall Street banks have been quietly bailed out again. Banks made risk-free by the government should be public utilities.

When the Dodd Frank Act was passed in 2010, President Obama triumphantly declared, “No more bailouts!” But what the Act actually said was that the next time the banks failed, they would be subject to “bail ins” – the funds of their creditors, including their large depositors, would be tapped to cover their bad loans.

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The Virus is a Mirror, by Andrew Gavin Marshall

Coronavirus graffiti, Leake Street

Image by duncan c via Flickr

by Andrew Gavin Marshall
Writer, Dandelion Salad
Toronto, Canada
Empire and Economics
May 7, 2020

Let us see that the virus allows us to reflect on ourselves, not simply at a national level, but at a civilizational level – at the level of the human species.

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Crushing the States, Saving the Banks: The Fed’s Generous New Rules, by Ellen Brown

Capitalism Is Crisis

Image by Steffi Reichert via Flickr

by Ellen Brown
Writer, Dandelion Salad
The Web of Debt Blog, May 2, 2020
May 3, 2020

Congress seems to be at war with the states. Only $150 billion of its nearly $3 trillion coronavirus relief package – a mere 5% – has been allocated to the 50 states; and they are not allowed to use it where they need it most, to plug the holes in their budgets caused by the mandatory shutdown. On April 22, Senate Majority Leader Mitch McConnell said he was opposed to additional federal aid to the states, and that his preference was to allow states to go bankrupt.

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Michael Hudson: US Coronavirus Bailout Scam is $6 Trillion Giveaway to Wall Street + How The US Makes Countries Pay For Its Wars: Economics of American Imperialism

Education Collage

Image by Jacob Anikulapo via Flickr

by Michael Hudson
Writer, Dandelion Salad
April 26, 2020

Moderate Rebels on Apr 20, 2020

Facing the Covid-19 pandemic, the US Congress rammed through the CARES Act — which economist Michael Hudson explains is not a “bailout” but a massive, $6 trillion giveaway to Wall Street, banks, large corporations, and stockholders.

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How A Universal Basic Income Will Work, by Ellen Brown

Where's my bailout?

Image by John Nakamura Remy via Flickr

by Ellen Brown
Writer, Dandelion Salad
The Web of Debt Blog, Apr. 19, 2020
April 20, 2020

A central bank-financed UBI can fill the debt gap, providing a vital safety net while preventing cyclical recessions.

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Did Congress Just Nationalize The Federal Reserve? No. But… by Ellen Brown

Capitalism Is Crisis

Image by Steffi Reichert via Flickr

by Ellen Brown
Writer, Dandelion Salad
The Web of Debt Blog, Apr. 3, 2020
April 4, 2020

Did Congress just nationalize the Fed? No. But the door to that result has been cracked open.

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Jack Rasmus: The Bailout For Workers Needs To Be As Big As The Bailout For Banks + Richard Wolff: Fate of the Global Economy

CAPiTALiSM KiLLS

Image by Metro Centric via Flickr

Dandelion Salad

TheRealNews on Mar 24, 2020

What relief will American workers get after the government poured $2.2 trillion into banks and businesses? Economist Dr. Jack Rasmus explains why the bailout for workers needs to be as big as the bailout for banks.

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Socialism at Its Finest after Fed’s Bazooka Fails by Ellen Brown

Class War #occupyboston

Image by Chase Elliott Clark via Flickr

by Ellen Brown
Writer, Dandelion Salad
The Web of Debt Blog, Mar. 21, 2020
March 22, 2020

In what is being called the worst financial crisis since 1929, the US stock market has lost a third of its value in the space of a month, wiping out all of its gains of the last three years. When the Federal Reserve tried to ride to the rescue, it only succeeded in making matters worse. The government then pulled out all the stops. To our staunchly capitalist leaders, socialism is suddenly looking good.

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The Fed’s Baffling Response to the Coronavirus by Ellen Brown + Richard Wolff: The Inherent Instability Of Capitalism Is Its Tendency To Have Economic Crises Every Few Years

Stock Market Crash Mission St. Grafitti

Image by zemistor via Flickr

by Ellen Brown
Writer, Dandelion Salad
The Web of Debt Blog, Mar. 11, 2020
March 13, 2020

When the World Health Organization announced on February 24th that it was time to prepare for a global pandemic, the stock market plummeted. Over the following week, the Dow Jones Industrial Average dropped by more than 3,500 points or over 10%. In an attempt to contain the damage, on March 3rd the Federal Reserve slashed the fed funds rate from 1.5% to 1.0%, in their first emergency rate move and biggest one-time cut since the 2008 financial crisis. But rather than reassuring investors, the move fueled another panic sell-off.

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Repo Madness by Ellen Brown

Rich Uncle Pennybags

Image by Sean Davis via Flickr

by Ellen Brown
Writer, Dandelion Salad
The Web of Debt Blog
January 12, 2020

Although the repo market is little known to most people, it is a $1-trillion-a-day credit machine, in which not just banks but hedge funds and other “shadow banks” borrow to finance their trades. Under the Federal Reserve Act, the central bank’s lending window is open only to licensed depository banks; but the Fed is now pouring billions of dollars into the repo (repurchase agreements) market, in effect making risk-free loans to speculators at less than 2%.

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Michael Hudson: The Beginning of the End of Super Imperialism in 2020?

Michael Hudson: The Beginning of the End of Super Imperialism in 2020?

Screenshot by Dandelion Salad via Flickr
Watch the video below

with Michael Hudson
Writer, Dandelion Salad
January 2, 2020

RT on Jan 2, 2020

Continuing with their New Year’s Eve celebrations, the Keiser Report is joined by Dr. Michael Hudson, author of Super Imperialism: The Origin and Fundamentals of US World Dominance. Will 2020 see further decline in that super imperialism about which he first wrote all those decades ago? They discuss this and then turn to the upcoming elections in the US and whether or not he believes the stock market numbers will aid Trump. Finally, the discussion takes in Hudson’s views on uprisings globally and whether they herald the end of the age of neoliberalism.

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Is the Run on the Dollar Due to Panic or Greed? by Ellen Brown

Rich Uncle Pennybags

Image by Sean Davis via Flickr

by Ellen Brown
Writer, Dandelion Salad
The Web of Debt Blog
November 8, 2019

What’s going on in the repo market? Rates on repurchase agreements (“repo”) should be around 2%, in line with the fed funds rate. But they shot up to over 5% on September 16 and got as high as 10% on September 17. Yet banks were refusing to lend to each other, evidently passing up big profits to hold onto their cash – just as they did in the housing market crash and Great Recession of 2008-09.

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Desperate Central Bankers Grab for More Power by Ellen Brown

Rich Uncle Pennybags

Image by Sean Davis via Flickr

by Ellen Brown
Writer, Dandelion Salad
The Web of Debt Blog
September 19, 2019

Conceding that their grip on the economy is slipping, central bankers are proposing a radical economic reset that would shift yet more power from government to themselves.

Central bankers are acknowledging that they are out of ammunition. Mark Carney, the soon-to-be-retiring head of the Bank of England, said in a speech at the annual meeting of central bankers in August in Jackson Hole, Wyoming, “In the longer-term, we need to change the game.” The same point was made by Philipp Hildebrand, former head of the Swiss National Bank, in an August 2019 interview with Bloomberg. “Really there is little if any ammunition left,” he said. “More of the same in terms of monetary policy is unlikely to be an appropriate response if we get into a recession or sharp downturn.”

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