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America is on a Banking Delayed-action Mine

Since 2009, it has been compulsory for all major US banks to pass an exam called a stress test. The test checks the banks’ ability to withstand sudden changes in economic and financial conditions. Put simply, it assesses the banks’ ability to survive should America experience a financial crisis similar to the one in 2007-2009. In all the years of testing, the majority of US banks have received a rating of ‘satisfactory’, and even then with a stretch of the imagination. Some banks have had to retake the exam... The results of the stress testing shows that America is living on a delayed-action mine called the US banking system, and sooner or later this mine is going to explode...

Valentin KATASONOV | 23.05.2015


 

Banks Rule the World, but Who Rules the Banks? (II)

...Here we can recall a study by specialists from the Zurich Institute of Technology in Switzerland, the aim of which was to reveal the controlling core of the global economic and financial system. In 2011, the Swiss specialists calculated that there were 1,128 companies and banks at the core of global finance at the beginning of the financial crisis (2007). An even denser core of 147 companies was revealed within this conglomerate. The authors of the study estimated that this smaller core controlled 40 per cent of all corporate assets in the world...

Valentin KATASONOV | 15.05.2015


 

Banks Rule the World, but Who Rules the Banks? (I)

These days, it is already a truism that the hegemony of the US is based on the Federal Reserve System’s (FRS) printing press... During the 2007-2009 global financial crisis, the FRS quietly gave out more than $16 trillion worth of credit (virtually interest free) to various banks. The owners of the money gave out the credit to themselves, that is to the main shareholder banks of the Federal Reserve... While the makeup of the Federal Reserve’s main shareholders is more or less clear, however, the same cannot be said of the shareholders of those banks who essentially own the FRS’ printing press. Who exactly are the shareholders of the Federal Reserve’s shareholders?..

Valentin KATASONOV | 14.05.2015


 

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
    Melkulangara BHADRAKUMAR

India’s passage through Central Asian steppes needs rethink

The steppes of Central Asia give away their secrets only grudgingly. The deserving ones have to convincingly show their capacity for persistence and tenacity – and, of course, sheer audacity. That was how Genghis Khan succeeded in conquering Bukhara...

04.07.2015
 
 
 
 
 
 
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