This Really Is Your Money
Given that the Fed and the Treasury create new U.S. money at a computer keyboard, the citizens are the one supplying the money which banks then lend back to citizens. When the Fed charges about 0% (as has been the case since about 2008), the citizens are giving banks (at essentially no cost) the product the banks sell to the banks' customers. There is something fundamentally very wrong when a company whose product costs essentially nothing manages to lose money, bring the national and world economies close to the brink of disaster, and put millions of people (who do not work for banks) out of work in the process. If you (or your government's officials) were acting in your interest (as opposed to the interests of their campaign contributors at the banks and their once and future employers at the banks), the capital requirement for banks (see the article at the link) would be substantially higher than 9.5% of "risk adjusted" assets (according to one definition "risk adjusted assets" means the assets (a relatively small subset of actual total assets) which the banks are willing to concede can be supported by capital (raised from those gullible enough or complicit enough to be willing to invest in the banks) without causing too much difficulty or suffering among the bankers when the time arrives to distribute the billions of dollars of annual bonuses made possible by the product supplied for free by the citizens of the United States of America)(n.b., bankers incur difficulty and/or suffering when the price of the bottle of wine they order with lunch falls below $1,000.00 or the price of the bottle of wine they order with dinner falls below $2,000.00).
- Director Clapper Practically Admits to Committing Perjury Before Congress
- The Europeans On The Job
- On Contractors
- What
Is Your Government Doing With Your Metadata?
"If you are a conservative, please read this paragraph: a misuse of something like PRISM might manifest itself as a slight increase in the difficulty with which conservatives can get credit. The difference would be just slight enough to be almost impossible to document definitively. And yet over enough time, the results would be substantial."
"If you are a progressive, please read this paragraph: a misuse of something like PRISM might manifest itself as a slight increase in the difficulty with which progressives can get credit. The difference would be just slight enough to be almost impossible to document definitively. And yet over enough time, the results would be substantial."
