Posted by admin! / Under Finance Minister
The Quiet Coup The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government—a state of affairs that more typically describes emerging markets, and is at the center of many emerging-market crises. If the IMF’s staff could speak freely about the U.S., it would tell us what it tells all countries in this situation: recovery will fail unless we break the financial oligarchy that is blocking essential reform. And if we are to prevent...
Published on Thursday 9th of September 2010 08:12:22 PM
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Posted by admin! / Under Finance Minister
"I'm against most regulation of financial markets and products. The rules never work as advertised and generally make the situation worse than before the rule was enacted. For example, when you try to protect someone from risk, they respond by engaging in riskier behavior. When you expose them to the full brunt of risk, however, they behave the most responsibly. "Protecting" investors actually works against them. With situations like the one my relative found herself in recently, where she paid more in fees than she earned in dividends, it's no wonder so many people throw up their hands and say,...
Published on Thursday 9th of September 2010 08:12:22 PM
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Posted by admin! / Under Finance Minister
Warning Global Fiat Currency Financial System Collapse By Early 2011 Stock-Markets / Financial Crash Sep 01, 2010 - 01:36 AM By: Matthias Chang Readers of my articles will recall that I have warned as far back as December 2006, that the global banks will collapse when the Financial Tsunami hits the global economy in 2007. And as they say, the rest is history. Quantitative Easing (QE I) spearheaded by the Chairman of Federal Reserve, Ben Bernanke delayed the inevitable demise of the fiat shadow money banking system slightly over 18 months. That is why in November of 2009, I was...
Published on Thursday 9th of September 2010 08:12:22 PM
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Posted by admin! / Under Finance Minister
This morning I wanted to puke up my coffee while listening to CNBS, which was going on about "policy mistakes" and the Jackson Hole symposium that is opening today. In short, the premise they're running (along with the rest of the media) is that we're "trying" to have a recovery, and only a policy mistake by the Central Banks can destroy it. This is a damned lie. The policy mistake was already made, 10 and 20 years ago, and it was both governments and central banks that made it. The policy mistake was to allow leverage to masquerade as growth....
Published on Thursday 9th of September 2010 08:12:22 PM
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