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Untouchable Banks: The End of the Easy Life (I)

The largest banks of Wall Street, the London City and other financial centers of the West have always been considered «Too Big to Fail». Such big-name banks were categorized as «untouchables», «sacred cows» which were destined to exist forever. And that is not surprising; the demise of any one of the «sacred cows» of the banking world could plunge not only one country, but the entire world into the depths of crisis. After all, the «sacred cows» existed outside of the so-called market economy, with its fierce competition, high risks, bankruptcies and defaults. They lived their lives in the oases of «banking socialism»...

Valentin KATASONOV | 05.11.2013


 

US Federal Reserve System Should Be Nationalized

The United States is the only state in the world destitute of the right to issue its own currency. The role of central bank is carried out by the Federal Reserve System – a joint stock company created by 12 Federal Reserve Banks created in their turn by commercial banks on a territorial basis. The state has no money. The government issues bonds to receive its “national currency”, the Federal Reserve System prints notes and gives it to the state by buying its bonds. Then the government buys out the bonds and the money returns to the Federal Reserve with interest rates... The US has become a hostage to greedy FRS bankers who see the state exclusively as a springboard for financial domination. If supporting the state is no longer profitable - there will be other springboards. That’s why getting back the control over the currency is an issue of national survival...

Olga SHEDROVA | 03.01.2013




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OUR COLUMNIST
    Nikolai BOBKIN

Iran: Coming out in the Open to Join First Line of Battle against Islamic State

...Iran realizes that Iraq turns into a springboard for launching an Islamic State aggression against Iran so it makes no secret of its involvement there anymore. The supreme leader of Iran Ali Khamenei says the activities of the US and its allies lead to split among Muslims instead of eradicating terrorism. Tehran believes that the only way to counter the threat is to make Iraqi Shiites join the fight against terrorists. The unparalleled in scale pilgrimage of Iraqi and Iranian believers to the Shia holy city of Kerbela is a telling example of Shiites’ unity...

21.12.2014
 
 
 
 
 
 
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