The financial avarice of the global banking system – U.S. banks insolvent to the tune of $3 trillion. FDIC pretends to have funds to support over $7 trillion in banking deposits.
Part of the big delusion in our banking system is the reality that debt has become a large source of money flowing through the economy. This is why housing made the perfect vessel for Wall Street and banking speculation. Banks create money by issuing loans and there is nothing larger to loan on than a […]
The brittle financial American middle class – 50 percent of Americans would be in financial trouble if $2,000 of expenses came up in 30 days. By 2020 the world’s richest households will control $202 trillion in wealth, 4 times current global GDP.
This economic recovery has excluded working and middle class Americans which begs the question, what really defines a financial recovery? In past and distant recoveries the economic gains were widely distributed amongst all Americans. Most realize that income gains will never be equal simply because in a market based economy those with certain desirable skills […]
The Federal Reserve’s elaborate financial charade on the American people – Big banks hold excess reserves that represent 10 percent of U.S. GDP. Federal Reserve has failed on largest goals for our economy.
The antics of our Federal Reserve rival those of the now disgraced IMF chief although they won’t grab as many gossip headlines. The Federal Reserve has fashioned a system that has allowed economic bubbles to surface every very few years like high school reunions. Bubbles are not normal. These are financial disequilibrium events that occur […]
Banking in darkness – FDIC system insures over $7 trillion in deposits with a dwindling insurance fund. Americans are offered close to zero percent interest rates to stuff their money into this banking vortex.
The American banking system is based on pure faith. Usually when the topic comes up in conversation I will ask someone if they know what backs the green cash in their wallet. One of the common responses is “there is gold in Fort Knox†or another typical response is that it is backed by U.S. […]