Financial podcasts have been featuring ominous headlines lately along the lines of “Your Bank Can Legally Seize Your Money” and “Banks Can STEAL Your Money?! Here’s How!” The reference is to “bail-ins:” the provision under the 2010 Dodd-Frank Act allowing Systemically Important Financial Institutions (SIFIs, basically the biggest banks) to bail in or expropriate their […]
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FROM 2009: In this flashback to the Economics 101 series, Michel Chossudovsky of globalresearch.ca explains the circular mechanism by which the banks become creditors of the very government that is bailing them out and thus leverage financial power over the political system itself.
Biden’s Rescue Act Targets Americans’ Freedoms by James Bovard Since the 1800s, surly Americans have derided politicians for spending tax dollars “like drunken sailors.” Until recently, that was considered a grave character fault. But Joe Biden’s American Rescue Plan Act shows that inebriated spending is now the path to national salvation. It was a common […]
He says what I didn’t! Good impassioned analysis of the subject —
The consequences of the COVID-19 pandemic have already devastated the world. Over 14 million people have tested positive for the virus, and nearly 600,000 have died since it was first identified in December. And cases continue to rise: yesterday saw 248,998 people test positive – an all-time high. World Health Organization Director-General Tedros Adhanom Ghebreyesus warned that the crisis is “not even close” to being resolved.
D.C.’s Iron Curtain of Secrecy Endangers The Economy and Everything Else
by James Bovard
Insolvent Wall Street banks have been quietly bailed out again. Banks made risk-free by the government should be public utilities. When the Dodd Frank Act was passed in 2010, President Obama triumphantly declared, “No more bailouts!” But what the Act actually said was that the next time the banks failed, they would be subject […]
