Why Occupy Wall Street Has Already Won - By Eliot Spitzer, Slate (19/10/11) PDF Print E-mail
Eliot Spitzer, Slate   
Wednesday, 19 October 2011 11:00

[FF Editorial: The article is posted because we believe that OWS has played a critical role in bringing into sharp focus the issues that needed to be addressed by the American public. However, we do not agree with the recommendation that the likes of Paul Krugman is the answer to the financial crisis in the US]

The following article first appeared on Slate.

Occupy Wall Street has already won, perhaps not the victory most of its participants want, but a momentous victory nonetheless. It has already altered our political debate, changed the agenda, shifted the discussion in newspapers, on cable TV, and even around the water cooler. And that is wonderful.

Suddenly, the issues of equity, fairness, justice, income distribution, and accountability for the economic cataclysm–issues all but ignored for a generation—are front and center. We have moved beyond the one-dimensional conversation about how much and where to cut the deficit. Questions more central to the social fabric of our nation have returned to the heart of the political debate. By forcing this new discussion, OWS has made most of the other participants in our politics—who either didn’t want to have this conversation or weren’t able to make it happen—look pretty small.



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Briefing Paper #5 - Why We Need A Financial Transaction Tax: A Proposal For The G20 - By Kavaljit Singh (17/10/11) PDF Print E-mail
Kavaljit Singh   
Monday, 17 October 2011 08:22

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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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