Ellen Chocolate-Brown - Key Banks Convey Gone Rogue, Putting Us All At Risk

In a perfect the world nosotros would conduct maintain a democratic authorities run past times the people for the people, simply what if agreement how to run the economic scheme is hence complicated that the bankers, who telephone telephone themselves technocrats, tell exit it to us, nosotros volition run it all out for you, simply instead of working out for us, they rig it for the practise goodness of the banking degree instead?

It's the same amongst medicine; how many people inwards authorities are doctors, which agency politicians conduct maintain to rely on doctors for advice, simply what if well-nigh of the doctors besides run for the pharmaceutical manufacture who desire to force to a greater extent than in addition to to a greater extent than drugs onto the nation?

But I'm certain at that topographic point are many expert people inwards banking in addition to medicine who practise desire to run for the national interest. This tin endure overcome. KV.

Central bankers are directly aggressively playing the stock market. To tell they are buying upward the planet may endure an exaggeration, simply they could. They tin practise coin at will, in addition to they conduct maintain declared their “independence” from government. They conduct maintain larn rogue players inwards a game of their own.

Excluding institutions such every bit Blackrock in addition to Vanguard, which are composed of multiple investors, the largest unmarried players inwards global equity markets are directly idea to be central banks themselves. An estimated 30 to xl key banks are invested in the stock market, either direct or through their investment vehicles (sovereign wealth funds). According to David Haggith on Zero Hedge:

The result, as noted inwards a Jan 2017 article on Zero Hedge, is that key bankers, “who Q fiat coin out of sparse air in addition to for whom ‘acquisition cost’ is a meaningless term, are increasingly nationalizing the equity majuscule markets.” At to the lowest degree they would endure nationalizing equities, if they were genuinely “national” key banks. But the Swiss National Bank, the biggest unmarried histrion inwards this game, is 48% privately owned; in addition to well-nigh key banks conduct maintain declared their independence from their governments. They march to the drums non of authorities simply of large international banks.

In a newspaper presented at the 14th Rhodes Forum in Hellenic Republic inwards Oct 2016, Dr. Richard Werner, Director of International Development at the University of Southampton inwards the UK, argued that key banks conduct maintain managed to make full independence from authorities in addition to full lack of accountability to the people, in addition to that they are directly inwards the procedure of consolidating their powers. They command markets past times creating bubbles, busts, in addition to economical chaos. He pointed to the European Central Bank, which was modeled on the disastrous before High German key bank, the Reichsbank. The Reichsbank created deflation, hyperinflation, in addition to the chaos that helped convey Adolf Hitler to power. The job amongst the Reichsbank, says Werner, was its excessive independence in addition to its lack of accountability to High German institutions in addition to Parliament. The founders of post-war Deutschland changed the novel key bank’s condition past times significantly curtailing its independence. Werner writes, “The Bundesbank was made accountable in addition to subordinated to Parliament, every bit i would hold off inwards a democracy. It became likely the world’s well-nigh successful key bank.”

But today’s key banks, he says, are next the disastrous Reichsbank model, involving an unprecedented concentration of might without accountability. Central banks are non held responsible for their massive policy mistakes in addition to reckless creation of boom-bust cycles, banking crises in addition to large-scale unemployment. Youth unemployment directly exceeds fifty part inwards Espana in addition to Greece. Many key banks rest inwards mortal hands, including non alone the Swiss National Bank simply the Federal Reserve Bank of New York in addition to the Italian, Greek in addition to South African key banks.

Ellen Brown - Central Banks Have Gone Rogue, Putting Us All at Risk