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How The Big Banks Run The World -- At Your Expense

Business  (tags: americans, government, business, economy, politics, money, world )

- 2168 days ago -
The recent Public Banking conference held in Philadelphia offered a message that is at once so simple - but also so bold - it is hard for most Americans to pause long enough to understand how profoundly their thinking had been corralled by the masters...

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Susanne R (235)
Sunday July 15, 2012, 3:01 pm
Thanks, Carrie, for posting this terrific article!

The final three paragraphs say it all:

"Even more interesting - much more interesting! - if the law were changed - or we acted as we did in part during World War II and, for instance, Canada acted between 1938 and 1974; - it would be possible for the Fed to lend directly to the government, bypassing the bank "middlemen" who make their profit by selling bonds to the Fed and investing the money in the government.

Moreover - watch this very, very closely - since by law the Federal Reserve Board turns over almost all its profits (i.e. all interest) to the government even now, the loans would cost the government literally nothing if things were done in the simple, straightforward way (or if a "public bank" were set up that operates just the way private banks are run today, including making profits for the owners - who in this case would obviously be the public - i.e. the government).

(One rough estimate offered by the Public Banking people is that had the United States done what they are talking about over the last 24 years, the amount saved on interest payments on the national debt would have been roughly eight trillion dollars - and the economy might also have been moved out of recession. Whatever the number might be in a careful statistical analysis, it is very, very large indeed.)"

So let's change the law and eliminate the greedy and corrupt middlemen (Wall Street Bankers)! I see the need for a very important petition here...

Robert O (12)
Sunday July 15, 2012, 3:34 pm
Thanks Carrie.

M B (62)
Sunday July 15, 2012, 4:45 pm
Please read:

Talya H (10)
Sunday July 15, 2012, 5:34 pm
Thanks for the article!

Carrie B (306)
Sunday July 15, 2012, 7:47 pm
Thank you for the comment Monka!

Past Member (0)
Sunday July 15, 2012, 8:47 pm

P A (117)
Monday July 16, 2012, 3:51 am
Thanks Carrie - so true yet most people can't be bothered (out in the world) to listen to such things - I am starting to understand why some people use the term 'sheeple'!

Carol H (229)
Monday July 16, 2012, 5:15 am
thanks Carrie, noted. I pulled everything out of B of A and went to a credit union and talked my son into doing the same!!

Monday July 16, 2012, 6:22 am
The truth is most everything in the world is crooked,especially most forms of business!

marie C (163)
Monday July 16, 2012, 3:47 pm
Thanks Carrie noted So so true

Carrie B (306)
Monday July 16, 2012, 8:16 pm
I really am sick of the SPAM!

Joy W (103)
Tuesday July 17, 2012, 4:16 am
Noted, thanks.

Kerrie G (116)
Tuesday July 17, 2012, 7:43 am
Noted, thanks.

Fennie Yap (0)
Wednesday July 18, 2012, 8:02 am

Carrie B (306)
Thursday July 19, 2012, 1:38 am
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