Twisted: The Curious Shape Into Which The Financial World Has Gotten Itself - By Bill Bonner (17/10/11) PDF Print E-mail
Bill Bonner   
Monday, 17 October 2011 08:20

Daily Reckoning

In both Europe and America the financial sector has been on the edge of disaster for the last three years. Each time a crisis flares up, the fixers rush in with a remedy. Bailouts, TARPs, TALFs, ZIRPs, QEI, QEII and now the ‘twist’. In its latest effort, the Fed announced:

“The Committee intends to purchase, by the end of June 2012, $400 billion of Treasury securities with remaining maturities of 6 years to 30 years and to sell an equal amount of Treasury securities with remaining maturities of 3 years or less. This program should put downward pressure on longer-term interest rates and help make broader financial conditions more accommodative.”

Already, short-term lending rates are so low it is as if money-in- hand had less than zero value. Adjusted for inflation, you pay the US government to store it for you. Even with interest, you get back less than you lent. And now, the Fed aims to perform the same dark magic on long-term funds, artificially lowering the cost of money so that people will borrow more of it.



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Why The State Demands Control Of Money - By Hans-Hermann Hoppe (15/10/11) PDF Print E-mail
Hans-Hermann Hoppe   
Saturday, 15 October 2011 10:03

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The Public Option In Banking: Another Look At The German Model - By Ellen Brown (15/10/11) PDF Print E-mail
Ellen Brown   
Saturday, 15 October 2011 09:52

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The All-American Occupation - A Century Of Our Streets Vs. Wall Street - By Steve Fraser (14/10/11) PDF Print E-mail
Steve Fraser   
Friday, 14 October 2011 13:04

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My Advice To The Occupy Wall Street Protesters - Hit Bankers Where It Hurts - By Matt Taibbi (14/10/11) PDF Print E-mail
Matt Taibbi   
Friday, 14 October 2011 12:35

Rolling Stone Magazine

I've been down to "Occupy Wall Street" twice now, and I love it. The protests building at Liberty Square and spreading over Lower Manhattan are a great thing, the logical answer to the Tea Party and a long-overdue middle finger to the financial elite. The protesters picked the right target and, through their refusal to disband after just one day, the right tactic, showing the public at large that the movement against Wall Street has stamina, resolve and growing popular appeal.

But... there's a but. And for me this is a deeply personal thing, because this issue of how to combat Wall Street corruption has consumed my life for years now, and it's hard for me not to see where Occupy Wall Street could be better and more dangerous. I'm guessing, for instance, that the banks were secretly thrilled in the early going of the protests, sure they'd won round one of the messaging war.



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