“If you invest your tuppence wisely in the bank, safe and sound,
Soon that tuppence safely invested in the bank will compound,
“And you’ll achieve that sense of conquest as your affluence expands
In the hands of the directors who invest as propriety demands.”
— Mary Poppins, 1964
“Quantitative easing” was supposed to be an emergency measure. The Federal Reserve “eased” shrinkage in the money supply due to the 2008-09 credit crisis by pumping out trillions of dollars in new bank reserves. After the crisis, the presumption was that the Fed would “normalize” conditions by sopping up the excess reserves through “quantitative tightening” (QT) – raising interest rates and selling the securities it had bought with new reserves back into the market.
“At the demise of empire, City of London financial interests created a web of secrecy jurisdictions that captured wealth from across the globe and hid it in a web of offshore islands. Today, up to half of global offshore wealth is hidden in British jurisdictions and Britain and its dependencies are the largest global players in the world of international finance.”
Updated: Sept. 19, 2018
Wall Street did not let the Lehman Brothers crisis go to waste. The banks that have paid the largest fines for financial fraud are now much bigger and more profitable. The victims of their junk mortgage loans are poorer, and the economy is facing debt deflation.
Central bankers are now aggressively playing the stock market. To say they are buying up the planet may be an exaggeration, but they could. They can create money at will, and they have declared their “independence” from government. They have become rogue players in a game of their own.
Updated: Aug. 20, 2018
with Chris Hedges
Originally on RT America on Aug 18, 2018
Conscious on Aug 19, 2018
Nomi Prins, journalist and author of Collusion: How Central Bankers Rigged the World, talks to journalist Chris Hedges about how central bankers “overstepped their traditional mandates by directing the flow of epic sums of fabricated money without any checks and balances.”
In a blatant example of “do as I say, not as I do,” the US government is profiting handsomely by accepting marijuana cash in the payment of taxes while imposing huge penalties on banks for accepting it as deposits. Onerous reporting requirements are driving small local banks to sell out to Wall Street. Congress needs to harmonize federal with state law.
RT on Nov 7, 2017
In this episode of the Keiser Report, Max and Stacy discuss 100 years of humiliation and unintentional self-parody as one empire goes and another, perhaps, rises again. In the second half, Max interviews Dr. Michael Hudson of michael-hudson.com to discuss the Democratic party in an era of dodgy pee-pee dossiers and no economic policies.
Crushing regulations are driving small banks to sell out to the megabanks, a consolidation process that appears to be intentional. Publicly-owned banks can help avoid that trend and keep credit flowing in local economies.
An article written for the hundredth anniversary of the Russian Revolution, to be read in Beijing today.
Socialism a century ago seemed to be the wave of the future. There were various schools of socialism, but the common ideal was to guarantee support for basic needs, and for state ownership to free society from landlords, predatory banking and monopolies. In the West these hopes are now much further away than they seemed in 1917. Land and natural resources, basic infrastructure monopolies, health care and pensions have been increasingly privatized and financialized.
Higher interest rates will triple the interest on the federal debt to $830 billion annually by 2026, will hurt workers and young voters, and could bankrupt over 20% of US corporations, according to the IMF. The move is not necessary to counteract inflation and shows that the Fed is operating from the wrong model.
Science fiction deals with imaginative concepts such as futuristic science and technology. Many people are aficionados of science fiction, but what puts many off are when it goes into space/time travel and creates extraterrestrials and other phenomenon difficult for many to wrap their minds around. Science fiction has been called “The Literature of Ideas.” The genre can offer a glimpse into the future, and can be most realistic using the platform of the present and recent past to look into what is ahead. A truly classic example of that is Philip K. Dick’s novel, The Man In The High Tower, where Dick describes what it is like to live in Occupied America after losing WWII to Germany and Japan.
The success or failure of any work of fiction depends to a great extent on the writer’s ability to produce a Suspension of Disbelief in the reader. This is especially true of futurist novels, fantasy, or for lack of a better term, science fiction. The concept was first introduced by the poet and philosopher Samuel Taylor Coleridge in 1817 in his Biographia Literari. When a work overcomes the barrier of the Suspension of Disbelief, it draws the reader in and takes them into the world created by the author. Such is the case with the book An Epiphany On Wall Street (Author Networks Edition, 2012) by anonym.