Home » xyzzy » Dungeon » Modern Monetary Theory (or, how I stopped worrying about the natl debt.)
Re: Modern Monetary Theory [message #96682 is a reply to message #96610] Sun, 07 May 2023 07:40 Go to previous messageGo to previous message
Rusty is currently offline  Rusty
Messages: 1186
Registered: May 2018
Location: Kansas City Missouri
Illuminati (3rd Degree)
Reading the latest on current banking solvency, the chacterization is the notion of too big to fail meaning allowing the banking industries hostage taking of our economy. Their proxy insurance holder being the Federal Reserve system. Their cops on the take are the regulatory agencies. Their law firm are the legislatures, and their chief spokesperson the US president. Our democracy is captured by private banking for the enrichment of a tiny minority of the population. Their main function is not of commerce or industry. It's simply speculation.

Any small bank can fail with no repercussion, but at some point in the hierarchy of banking, holdings and speculative assets on the skids create a domino effect. With the backstop only of the Federal Reserve to "Bailout" the investments that go beyond the 250K FDIC guarantee. The notion of the government taking over control of such an institution is considered an act of socialism. A term most despised in our capitalism democracy.

So now as has been bullied time and again when our legislative body gets the notion to deal with government spending by threatening defaulting on government payments. Purely on an utterly false premise of the debt ceiling. Demanding that spending be curtailed. Which always, always is social in nature. Keep in mind where the lion's share of socialized support is going.

Our banking masters.
 
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