Well, so for most people of the world the economic situation is not very good. Zombie Capitalism, otherwise known as neoliberalism, or globalization, or financial capitalism is plundering nations around the world of all their natural resources and enslaving their people in debt. Look no further than the United States, Italy, France, Germany, the UK, Greece, and many many more.
Fools would like you to believe that Obama is trapped by an inept Congress, now on recesss, an enormous national debt, a sluggish economy propped up by Federal Reserve quantitative easing.
Endless wars, public works, & deficit spending are common ingredients to currency debasement, devaluation, & defaults pic.twitter.com/355d3LU8Y1
— Michael Maloney (@mike_maloney) July 15, 2013
But you remember, you SUPPORT OUR TROOPS all the way to the Rubicon, just like the Romans, the Germans, the Russians, the French, the Israelis, and the English.
But there is hope. There are options. One of them is reinecting Glass-Steagall, the 1933 act the Franklin Delano Roosevelt. That will split the commercial banks for the investment banks and save you from suffering the Cyrpus Bail-In scenario created by the same banks that blew up the Argentine economy in 2001, not too long after 9/11 and the Enron bankruptcy. Hmm.
@morningmoneyben This was done successfully in 1934 and worked fine for 65 years until bank lobbyists took over Washington. #GlassSteagall
— Jim Rickards (@JamesGRickards) July 11, 2013
But crashing the 5 largest banks in the United States would cause some major turmoil. Bank employees would get fired. Their homes would get foreclosed. it's a nice thought but my concern is how the credit markets would suddenly come to a screeching halt. Someone like Hank Paulson would once again threaten martial law if Congress did something like this. It even seems unlikely the banks would allow for such a regulation to pass, unless they thought they could make money doing it.
So, this is where alternative currencies and the public bank solution comes into play. Watch this video of Ellen Brown of the Public Banking Institute and start to question more.
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