Alternet has just published another one of my articles, The End of Money: Take Power Back From the Money and Banking Monopoly.
The dysfunctional nature of the dominant global system of money and banking has for a long time been apparent to anyone who has cared to look at it. Now, in light of the present financial meltdown, it has become painfully obvious to virtually everyone. What most people have failed to recognize is that, regardless of the nominal form of their government, their political power has been neutralized and exhausted by the privatization and misallocation of credit money.
The political money and banking system disempowers communities and enables a small elite to use the present centralized control mechanisms to their own advantage and purpose. It misallocates credit, making it both scarce and expensive for the productive private sector while enabling central governments to circumvent, by deficit spending, the natural limits imposed by its above-board revenue streams. more..
Reporter Matt Taibbi recently wrote an article for Rolling Stone called The Great American Bubble Machine. In this five part video he elaborates upon the theme and describes how Goldman Sachs has virtually taken over the U.S. government. Watch it.
Paul Craig Roberts and I have pretty much the same answer to this question. He says:
There is no economy left to recover. The US manufacturing economy was lost to offshoring and free trade ideology. It was replaced by a mythical “New Economy.”
The “New Economy” was based on services. Its artificial life was fed by the Federal Reserve’s artificially low interest rates, which produced a real estate bubble, and by “free market” financial deregulation, which unleashed financial gangsters to new heights of debt leverage and fraudulent financial products.
The real economy was traded away for a make-believe economy. When the make-believe economy collapsed, Americans’ wealth in their real estate, pensions, and savings collapsed dramatically while their jobs disappeared.
He then goes on to identify Goldman Sachs as “the bankster firm [that] controls the economic policy of the United States.” Read the full article here.
Fed Chairman Bernanke could not or would not tell which foreign central banks got $500,000,000,000 from the Fed.
The only surprising thing about this report is that it appeared on Fox News. Goldman Sachs has just reported record profits. Glenn Beck explains how your government made it possible.
Confused about the origins of the credit crisis? This animated video by Jonathan Jarvis helps to clear away the fog.
How Bad Will the Economy Get? This is the title of my article that was recently published on Alternet. It begins with the claim that:
Historically, every financial and economic crisis has been used to further centralize power and concentrate wealth. This one is no different, and in fact the moves being promoted by the Obama administration and the central banks of the Western powers will take the whole world to the pinnacle of financial despotism — unless enough people wake up and claim their own “money power.”
It continues with an outline of recent and historical developments that make the case, but concludes on a hopeful note with my brief description of existing cashless exchange mechanisms that are not dependent upon political money or banks. You can read the complete article here. - t.h.g.