+- +-

+-User

Welcome, Guest.
Please login or register.
 
 
 
Forgot your password?

+-Stats ezBlock

Members
Total Members: 46
Latest: Tony Ryan
New This Month: 0
New This Week: 0
New Today: 0
Stats
Total Posts: 12574
Total Topics: 254
Most Online Today: 4
Most Online Ever: 137
(April 21, 2019, 04:54:01 am)
Users Online
Members: 1
Guests: 1
Total: 2

Author Topic: Money  (Read 6511 times)

0 Members and 0 Guests are viewing this topic.

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 26377
  • Location: Colchester, Vermont
    • Renwable Revolution
Re: Money
« Reply #420 on: September 12, 2018, 05:20:24 am »
September 10, 2018 TD Originals

Conjuring Up the Next Depression

By Chris Hedges

SNIPPET:

Quote
“Before the crisis, they were just asleep at the wheel, in particular, the Federal Reserve of the United States, which is supposed to be the main regulator of the major banks in the United States,” Prins said when we met in New York. “It did a horrible job of doing that, which is why we had the financial crisis. It became a deregulator instead of a regulator. In the wake of the financial crisis, the solution to fixing the crisis and saving the economy from a great depression or recession, whatever the terminology that was used at any given time, was to fabricate trillions and trillions of dollars out of an electronic ether.”

The Federal Reserve handed over an estimated $29 trillion of this fabricated money to American banks, according to researchers at the University of Missouri. Twenty-nine trillion dollars! We could have provided free college tuition to every student or universal health care, repaired our crumbling infrastructure, transitioned to clean energy, forgiven student debt, raised wages, bailed out underwater homeowners, formed public banks to invest at low interest rates in our communities, provided a guaranteed minimum income for everyone and organized a massive jobs program for the unemployed and underemployed. Sixteen million children would not go to bed hungry. The mentally ill and the homeless—an estimated 553,742 Americans are homeless every night—would not be left on the streets or locked away in our prisons. The economy would revive. Instead, $29 trillion in fabricated money was handed to financial gangsters who are about to make most of it evaporate and plunge us into a depression that will rival that of the global crash of 1929.

Kevin Zeese and Margaret Flowers write on the website Popular Resistance, “One-sixth of this could provide a $12,000 annual basic income, which would cost $3.8 trillion annually, doubling Social Security payments to $22,000 annually, which would cost $662 billion, a $10,000 bonus for all U.S. public school teachers, which would cost $11 billion, free college for all high school graduates, which would cost $318 billion, and universal preschool, which would cost $38 billion. National improved Medicare for all would actually save the nation trillions of dollars over a decade.”

An emergency clause in the Federal Reserve Act of 1913 allows the Fed to provide liquidity to a distressed banking system. But the Federal Reserve did not stop with the creation of a few hundred billion dollars. It flooded the financial markets with absurd levels of fabricated money. This had the effect of making the economy appear as if it had revived. And for the oligarchs, who had access to this fabricated money while we did not, it did.

Full article:

https://www.truthdig.com/articles/conjuring-up-the-next-depression/
But that on the good ground are they, which in an honest and good heart,
having heard the word, keep it, and bring forth fruit with patience. -- Luke 8:15

 

+-Recent Topics

Doomstead Diner Daily by Surly1 New
July 16, 2019, 06:48:13 am

🦕🦖 Hydrocarbon 🐍 Hellspawn Mens Rea Actus Reus modus operandi by AGelbert
July 15, 2019, 11:49:27 pm

Corporate Fascist Corruption of Christianity by AGelbert
July 15, 2019, 11:11:35 pm

Global Warming is WITH US by AGelbert
July 15, 2019, 10:41:43 pm

The Big Picture of Renewable Energy Growth by AGelbert
July 15, 2019, 10:33:06 pm

Pollution by AGelbert
July 15, 2019, 10:29:35 pm

Creeping Police State by AGelbert
July 15, 2019, 09:59:05 pm

Corporate Profits over Patient in the Health Care Field by AGelbert
July 15, 2019, 09:36:43 pm

Electric Vehicles by AGelbert
July 15, 2019, 06:24:18 pm

Mechanisms of Prejudice: Hidden and Not Hidden by AGelbert
July 15, 2019, 05:53:55 pm