Category Archives: Finance

Finance

How Economists and Policymakers Destroyed Our Economy

Secret Treaty Now Threatens Our Way of Life

by Paul Craig Roberts

From: www.paulcraigroberts.org

Paul Craig Roberts
Paul Craig Roberts

The economy has been debilitated by the offshoring of middle class jobs for the benefit of corporate profits and by the Federal Reserve’s policy of Quantitative Easing in order to support a few oversized banks that the government protects from market discipline. Not only does QE distort bond and stock markets, it threatens the value of the dollar and has resulted in manipulation of the gold price. See article – click here.

When US corporations send jobs offshore, the GDP, consumer income, tax base, and careers associated with the jobs go abroad with the jobs. Corporations gain the additional profits at large costs to the economy in terms of less employment, less economic growth, reduced state, local and federal tax revenues, wider deficits, and impairments of social services.

When policymakers permitted banks to become independent of market discipline, they made the banks an unresolved burden on the economy. Authorities have provided no honest report on the condition of the banks. It remains to be seen if the Federal Reserve can create enough money to monetize enough debt to rescue the banks without collapsing the US dollar. It would have been far cheaper to let the banks fail and be reorganized. Continue reading How Economists and Policymakers Destroyed Our Economy

Roberts, Kranzler, Blow Lid Off Gold Manipulation by Federal Reserve

The Hows and Whys of Gold Price Manipulation

By: Paul Craig Roberts and Dave Kranzler

January 17, 2014

visit www.paulcraigroberts.org for more

 

Paul_Craig_Roberts1The deregulation of the financial system during the Clinton and George W. Bush regimes had the predictable result: financial concentration and reckless behavior. A handful of banks grew so large that financial authorities declared them “too big to fail.” Removed from market discipline, the banks became wards of the government requiring massive creation of new money by the Federal Reserve in order to support through the policy of Quantitative Easing the prices of financial instruments on the banks’ balance sheets and in order to finance at low interest rates trillion dollar federal budget deficits associated with the long recession caused by the financial crisis. Continue reading Roberts, Kranzler, Blow Lid Off Gold Manipulation by Federal Reserve

Federal Judge Blasts Government, Justice System For Failure To Prosecute Banksters

Why Have No High Level Executives Been Prosecuted In Connection With The Financial Crisis?

By Jed S. Rakoff November 15, 2013

Judge Jed Rakoff
Judge Jed Rakoff

The following comes to us from the Honorable Judge Jed S. Rakoff, who sits in the U.S. District Court for the Southern District of New York. Judge Rakoff is also an adjunct professor at Columbia Law School.  Re-posted from the Columbia Law School blog.

Continue reading Federal Judge Blasts Government, Justice System For Failure To Prosecute Banksters

The Federal Reserve: 100 Years of Deceit and Corruption

 It’s Time For the Government to Seize the Federal Reserve and Make it a Public Utility

by Ellen Brown

Ellen Brown
Ellen Brown

December 23rd, 2013, marks the 100th anniversary of the Federal Reserve, warranting a review of its performance. Has it achieved the purposes for which it was designed?

The answer depends on whose purposes we are talking about. For the banks, the Fed has served quite well. For the laboring masses whose populist movement prompted it, not much has changed in a century.

Thwarting Populist Demands

Mary Elizabeth Lease
Mary Elizabeth Lease

Continue reading The Federal Reserve: 100 Years of Deceit and Corruption