As the holiday season draws nearer, it is nice to know that a present for all Americans and future generations is building as the hordes of consumers’ storm the aisles of their favorite box store so that they can go further in debt. Much like maxing out your plastic limits and paying the monthly minimum, the U.S. Treasury just keeps rolling over their debt since their credit card has no ceiling. The banksters behind the Federal Reserve have no problem with monetizing the national debt, since the Treasury provides their stamp of guarantee. As the public sector continues their spending spree, few really know the extent and amount of their share of the obligation.
The global economy has just hit the wall. Do not underestimate the significance of the Asian downturn. Japan saw a dramatic rebirth after WWII and China was transformed into an industrial powerhouse from the “Free Trade” debacle. Now that the Central Bankers of the world are turning to Japan and China to keep the financial bubble from blowing, the focus pivots to the East. Pushing on a string is no easy task. Nervously, all eyes have to wonder if more debt will prevent the expected crash.
Global trade relationships and agreements are moving in very different directions. The public relations press releases hide the undercurrents that are driving the formations of alternative economic alliances. While the G 20, markets its all inclusive umbrella policy forums, the mere formation of a BRICS counterweight forecasts deep and fundamental differences. So what is really behind the creation of a different approach to the post WWII dominate U.S. lead model? A clue can be found in an attempt to modify the operations and direction of IMF functions.
The attention that Taibbi is receiving for the Rolling Stone essay, The $9 Billion Witness: Meet JPMorgan Chase’s Worst Nightmare, may push forward a serious debate on the systemic corruption that is common knowledge among informed observers of the financial structure. Zero Hedge can always be depended upon to incisively sum up the issue.
“The ideas of economists and political philosophers, both when they are right and when they are wrong are more powerful than is commonly understood. Indeed, the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually slaves of some defunct economist.” From The General Theory by John Maynard Keynes
One sage of economics is mostly ignored because he dares to reject the Keynesian economics doctrine that is so essential to maintain the debt slavery milieu. The last hundred years fostered the dominion of the banksters. The economic future is bleak for humanity as long as the fraudulent monetary system of fiat money is allowed to continue. But before this conclusion can become a commonly accepted cultural axiom, the historic context needs to be understood by present generations.
Ever since the 2008 financial collapse, banks have reduced their lending while accumulating U.S. Treasuries. On the surface placing capital into the safest depositor may seem prudent. On the other hand, Why Big Banks Are Suddenly Interested in Talking to You Again? According to Inc, “After years of turning away small-business borrowers, the country’s largest banks are now granting one out of five loan applications they receive. The 20 percent benchmark represents a post-recession high for big banks (assets of $10B+). Further, small banks have been approving more than half of the funding requests they receive.”
Those fall season concerns in market volatility are once again upon us. After so many years of a zero interest rate environment, nervous tension is breaking out. Review the record. For a comparison of International Stock Indexes, Market Data Center statistics from the WSJ is useful. Now evaluate Doug Ramsey’s, chief investment officer at the Leuthold Group, argument in Comparing Valuations: U.S. vs. International Stocks.
The cozy relationship between financial institutions and their respective regulators has long been known. Concern from reformers and activists comes from all stripes of ideological perspectives. With the attention that Carmen Segarra, the whistleblower of Wall Street, has gained, the noise from the banking establishment pushes back. Here comes the expected spin from the Fed, The New York Fed Slams Tape-Recording Whistleblower, Says She Was Fired After Just 7 Months Over Performance. Read their Statement Regarding New York Fed Supervision. So what is this controversy all about?
Seldom does the enormous bond market turn on the fate of a single trader. Well, the news that Bill Gross was leaving Pimco under suspicious circumstances did not go unnoticed. The WSJ writes:
Remember the days when an entrepreneur would perfect their whiz kid ideas in a garage and bring them to market? Did Steve Wozniak ever envision the behemoth that Apple would become and the cult camp that worships every new product that flows from their robotic coolie assembly lines? Riots Over Rotten Apple Mania describes an example of the forbidding underbelly of corporatist business model that Apple exemplifies so dramatically. Notwithstanding this record of 21th century sweat factories, do the venture vulture capitalists of Silicon Valley interject added value in the products and services they fund or do this culture of touting IPO offerings simply game a system to print money based upon imaginary dreams?
Scotland has a long and noteworthy history of banking. Money, savings and investing is entrenched in the culture and society. Edinburgh is the fourth largest financial centre in Europe (after London, Frankfurt and Paris). Much of this reputation has arisen from its history of innovation over the last three hundred years. The Bank of Scotland, established in 1695, one year after the Bank of England by an Act of the Scottish Parliament, illustrates the prevailing attitude to the creation of money in that era. A list of banking innovations is a useful background of Scottish banking activities.