Why Do Banks Want Our Deposits? Hint: It’s Not to Make Loans
by Ellen Brown Many authorities have said it: banks do not lend their deposits. They create the money they lend on their books. Robert B. Anderson, Treasury Secretary under Eisenhower, said it in 1959: When a bank makes a loan, it simply adds to the… more »
Tags: banks
You Can’t Taper a Ponzi Scheme: Time to Reboot
by Ellen Brown One thing to be said for the women now heading the Federal Reserve and the IMF: compared to some of their predecessors, they are refreshingly honest. The Wall Street Journal reported on July 2nd: Two of the world’s most powerful women of… more »
Tags: banks, derivatives
The Debtor’s War: A Modern Greek Tragedy
By: Andrew Gavin Marshall Early on Thursday, 7 November 2013, Greek riot police stormed the offices of Greece’s main public broadcaster, which had been under a five-month occupation by workers who opposed the government’s decision to shutdown the… more »
The 2005 Bankruptcy Bill: Knowing a Financial Crisis Was Imminent, Banks Lobbied Government to Pass Laws to Preserve Their Wealth
by chycho Our government representatives would like us to believe that the subprime mortgage crisis (2, 3, 4, 5) could not have been predicted. The truth is, the collapse was expected and authorities were well aware that crimes were being committed. I.… more »
Elizabeth Warren’s QE for Students: Populist Demagoguery or Economic Breakthrough?
by Ellen Brown On July 1, interest rates will double for millions of students – from 3.4% to 6.8% – unless Congress acts; and the legislative fixes on the table are largely just compromises. Only one proposal promises real relief – Sen. Elizabeth… more »
“A Lot of People Believe This Stuff”: Bill Clinton, Barack Obama, and the Politics of Public Relations
By: Andrew Gavin Marshall “Political language… is designed to make lies sound truthful and murder respectable, and to give an appearance of solidity to pure wind.” - George Orwell, “Politics and the English Language,” 1946 “It’s important, because a lot… more »
Tags: advertising, banks, barack obama, bill clinton, burston-marsteller, committee on public information, corporations, democracy, democratic national convention, dnc, economic crisis, economic inequality, edward bernays, franklin d_ roosevelt, free trade, glass-steagall, goldman sachs, haiti, iraq, james carville, jpmorgan chase, larry summers, madeleine albright, mitt romney, nafta, poverty, propaganda, public relations, robert rubin, tpp, trans-pacific partnership, walter lippmann, woodrow wilson
What They Didn't Tell You - The Financial Crisis Inquiry Commission
By Numerian posted by Michael Collins What America really needs is a Commission of Truth, that would outline how Selfishness became triumphant, how it has devastated our country, and what we as a community and as a nation must do about this What’s it… more »
Tags: banks, commission, crime, depression, fraud, greenspan, pecora, recession, report, wall street
It's all good! Party on like there's no tomorrow
By Numerian posted by Michael Collins "The US financial system is close to collapse - The deliberate public relations campaign by government, politicians, and business leaders to assure us that “all is well” when it comes to the banking system is… more »
Why do we hate the banks so?
By Numerian posted by Michael Collins "The deadbeat accusation against defaulters says Americans should have known how much debt they were taking on and what the risks were for themselves if disaster should happen to them. The problem with this argument… more »
The Devil's in the Details - Foreclosures
By Numerian Posted by Michael Collins It seems, therefore, that millions of foreclosures that have occurred in the past two years may be invalid. Investors who were part of the $8,000 tax credit program may not have valid mortgages and may not legally… more »
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