finance

Source :Project Syndicate, Nouriel Roubini & Brunello Rosa, 13-09-2018

Source : Truthdig, Chris Hedges, 10-09-2018
Mr. Fish / Truthdig

Jail Bankers Not Protesters, Occupy Wall Street, 2011 (Photo by Stan Honda for AFP-Getty Images)

The president has criticized Federal Reserve policy for undermining his attempts to build the economy. To make the central bank serve the needs of the economy, it needs to be transformed into a public utility.

Source : CADTM, Eric Toussaint et Patrick Saurina, 18-06-2018

Source : CADTM, Eric Toussaint , Patrick Saurin , Jeanne Chevalier, 30-05-2018
L’Hôtel de la Monnaie de Paris au XIXe

The financial industry is but one of many industries in the modern world. Besides whatever their stated purposes may be, every one of their modus operandi can be “unmasked” to reveal some degree and form of wrongdoing and harm done, as I did once in a very cursory way.1

Source : The Intercept, Sam Biddle, 20-03-2018
Illustration : Tyler Comrie pour The Intercept

It has all the elements of a crudely crafted, if effective, tale: banks and other financial services, founded, proud of their standing in society; financial service providers, with such pride, effectively charging the earth for providing elementary services; then, such entities, with self-assumed omnipotence, cheating, extorting and plundering their clients.

The Fed is aggressively raising interest rates, although inflation is contained, private debt is already at 150% of GDP, and rising variable rates could push borrowers into insolvency. So what is driving the Fed’s push to “tighten”?