Capitalism, Socialism, Communism - Archaic, Irrelevant,
Terms
09-07-14
mpg
Capitalist
[Banksterist] Breakdown and the Drive to War
Must Read - A quote...."The most striking aspect of
this week’s meeting of the governing council of the European
Central Bank (ECB) was not the decisions it took to further
reduce official interest rates and initiate the purchase of
asset-backed securities, significant as they were. - Rather,
it was the deep sense of malaise that hung over the meeting
as the financial powers-that-be confronted the fact that six
years after the breakdown of the global financial system in
2008, not only are they no closer to finding a set of
policies to bring about economic “recovery,” the situation
is worsening."
This website editor is surprised there are still
people out there using archaic, irrelevant, terms such as
"Capitalist" or "Capitalism", or for that matter Socialism
or Communism. At least in their economic sense.
Especially after the private banking consortium known as
the Federal Reserve placed more than 4.5 Trillion dollars
on in it's balance sheet in just six short years.
After the bulk of almost a Trillion dollars was borrowed
to help bail-out less than a dozen TBTF banks from the
American tax-payer.
After tens of Trillions, possibly much more, were
made available in short term loans, guarantees,
back-stops, pay-outs, etc. to bail-out other members of
the financial community.
After three to five Trillion in toxic mortgages were
placed on the balance sheets of the mortgage guaranteeing
GSE's.
After another 200 to 500 trillion dollars was added to the
shadow banking system and derivatives market, ALREADY
over a quadrillion dollars in notational value. (Possibly
much more).
Almost NONE of which involved the actual
production of REAL goods and services, or the use
of REAL (i.e. fully collateralized) savings
(a.k.a. Capitalism), how could ANYONE still be
using quaint terms such as capitalist to describe the
current economic system of Banksterism??? - mpg
Topix - || The Fed & The Thirty Trillion
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