Why is the economy barely growing after seven years of zero rates and easy money? Why are wages and incomes sagging when stock and bond prices have gone through the roof? Why are stocks experiencing such extreme volatility when the Fed increased rates by a mere quarter of a percent?
A Loophole Allows Banks – But Not Other Companies – to Create Money Out of Thin Air
By Washington’s Blog, January 16 2016
The central banks of the United States, England, and German – as well as 2 Nobel-prize winning economists – have all shown that banks create money out of thin air … even if they have no deposits on hand. The failure of most governments and most mainstream economists to understand this fact – they instead believe the myth that people make deposits at their bank, and these deposits are then lent out to new borrowers – is the main cause of our rampant inequality and economic problems.
Currency Dictatorship. The Struggle to End US Dollar Hegemony
By Rakesh Krishan Simha, January 17 2016
India and the BRICS are giving the US dollar the boot? Is it really so? The last time a country decided to dump the dollar in the oil business, the US destroyed it.