The Fed managed to “rescue” the economy after the financial crisis, but in the process, it created an even bigger bubble than the one that popped in ’08. This bubble is about to burst and the Fed will try to repeat the process. The difference is this time it won’t work, as Peter explains. He added: “We’re going to have a deep recession with rising interest rates and this whole thing is going to come imploding down.”Read More
The sad reality appears to be that politics and ideologies are nothing more than bullcrap created to polarize opinions and divide the population, while central bankers don’t give a hoot if a country is run by democrats, communists, fascists, Nazis, dictators, socialists, green parties, a king or even plumbers, as long as the government maintains the plutocracy that enslaves the population through debt, that plunders our natural resources, and fully controls our economy through their money creation monopole.Read More
Glass-Steagall Act, signed into law as the U.S.A. Banking Act of 1933, the legislation had been crucial to safeguarding the financial industry in the wake of the Great Depression. But with its repeal in 1999, the barriers separating commercial and investment banking collapsed, creating the preconditions for an economic crisis from whose shadow we have yet to emerge. Carmen Segarra, a Wall Street whistleblower in her book “Noncompliant: A Lone Whistleblower Exposes the Giants of Wall Street” described the deep corruption in our banking and financial system and how the powerful rewards bad behaviours.Read More
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.
Was it worth it? What was not saved was the economy.