If the Nation can issue a dollar bond it can issue a dollar bill. The element that makes the bond good makes the bill good also. The difference between the bond and the bill is that the bond lets the money broker collect twice the amount of the bond and an additional 20%. Whereas the currency, the honest sort provided by the Constitution pays nobody but those who contribute in some useful way.
According to brand new numbers that were just released by the Social Security Administration, 51 percent of all workers in the United States make less than $30,000 a year. Let that number sink in for a moment. You can’t support a middle class family in America today on just $2,500 a month – especially after taxes are taken out.
The Dodd-Frank regulations are so lethal to community banks that some say the intent was to force them to sell out to the megabanks. Community banks are rapidly disappearing — except in North Dakota, where they are thriving.
The post Killing Off Community Banks — Intended Consequence of Dodd-Frank? appeared first on BSNEWS.
The New York Times seems disingenuous at best and conspiratorial at worst: admitting in an editorial that it blew it big time in advocating for the repeal of Glass-Steagall while hiding in the wings as its writers are allowed to push a false narrative that the New York Times refuses to correct.
The post Exclusive Federal Reserve Videos and the Glass-Steagall Media Conspiracy appeared first on BSNEWS.
The global economy faces so many headwinds at present that it’s hard to know where to begin. China’s real estate bubble has popped, capital flight has put emerging markets into a nosedive, commodities prices have plunged triggering fears of deflation, the economic data is increasingly bleak, and the Fed’s plan to “normalize” rates has sent stocks gyrating like never before.
Peace activists should mobilise in support of Corbyn, argues Ian Sinclair
The post Jeremy Corbyn and the peace movement appeared first on BSNEWS.
“Neither national nor European worker protection laws apply to the ECB, because it is not part of any nation. Nor is it a European state,” said an ECB staffer. “So basically, the Governing Council of the ECB has complete freedom to define any rules or laws for its employees that it wishes, with no democratic oversight and no worker representation.”
The post EU banking chiefs are repressing their own workers to save the 1% appeared first on BSNEWS.
Predictions are that we will soon be seeing the “nuclear option” — central bank-created money injected directly into the real economy. All other options having failed, governments will be reduced to issuing money outright to cover budget deficits.
The post Time for the Nuclear Option: Raining Money on Main Street appeared first on BSNEWS.
Noam Chomsky on Bernie Sanders, Jeremy Corbyn, and the potential for ordinary people to make radical change.
The post History Doesn’t Go In a Straight Line appeared first on BSNEWS.
One would hope that Cameron and Osborne fully understand the mechanics of modern money creation (although a recent survey by Positive Money shows 90% of their fellow MPs do not). Most of our money is created by private banks when they make loans. It doesn't have to be this way. Another world is possible.
The post Quantitative Easing for People: The UK Labour Frontrunner’s Controversial Proposal appeared first on BSNEWS.
