Robert Pringle, chairman and founder of the Central Banking Journal, told RT: "... We rely on pumping up credit to get the real economy moving. And the problem is that we have to pump up the credit too much in order to reduce unemployment. We are going into the same thing again...Obviously we are moving to another boom and bust period. It’s not just the property prices, in many emerging markets you are also getting this. Stock markets are at an all-time high. And yet many people fear a crash. We are gambling immense amounts of money, 4 trillion dollars on the FED balance sheet. ...My book is called the Money Trap because the system is set up in such a way that people, governments, banks, and major actors think that they can do well in such a system with free capital movements, free exchange rates, liberal environment, but they neglect international stability.
Patrick Bons on "... the difference between bogus ‘Africa Rising’ rhetoric as GDP increases thanks to raw materials exports, and Africa crashing in terms of fast-shrinking wealth, especially in resource-cursed countries like Nigeria and South Africa. To fail to acknowledge the distinction is to import from malevolent Northern economists what University of Pretoria political economist Lorenzo Fioramonti calls a Gross Domestic Problem. It means ignoring women’s unpaid labour, pollution, social ills and a variety of other variables that should be measured as losses from net income. The biggest of these GDP-blind factors in Africa is the depletion of natural resources, which when mined or drilled out are only counted as GDP credits on the income accounts, but not as debits, as they should be since a source of future income is now gone. "
Greg Palast intervjews Lamy and Martin Khor in Geneva. "GREG PALAST: But we got our hands on a document you certainly won’t find on the WTO website; something very confidential: a secret demand of the European Union and USA, leaning on emerging nations to
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Since Silicon Valley Bank’s collapse, some commentators have been waking up to the need for a socialization of deposit-taking banking. They’re right — but the same logic leads to a more radical conclusion: a fully socialized capital market, with no private banks.
Falkvinge: "There is a bitcoin craze at the moment, with prices of bitcoin skyrocketing. Bitcoin is still far from ready for prime time, but as it matures, it will change society's fundamental operations much more than the Internet did. The net, after all, only allowed people to talk and shop more efficiently. By comparison, bitcoin eradicates the government's ability to operate." "...bitcoin isn't going to drive its adoption just because it is impervious to state control and insight. Rather, its adoption is going to be driven by the strong business case for corporations to cut banks out of the loop - more specifically, cut bank profits out of their own profits." "Bitcoin is not a plush toy, it is not a commodity. It is an economic agreement, and as such, has value like any other contract that improves your business. "