Tuesday, September 25, 2012

'Restore the happy bubble economy' - Prof Michael Hudson

As per the last blog post,  QE3 is to just keep the banks in business and won't expand production for small businesses. See this 9 minute interview (and transcript) QE3 Another Fed Give Away to the Banks  with Michael Hudson which uses Ben Bernanke's words and Fed reports to show how the interests of ordinary people are being overridden in the desperate cause of keeping the banking system  in operation to get it back as it was before the crisis. 

Michael Hudson has a long historical view of money and credit and debt forgiveness going back to Mesopotamia. Our current oligarchical system arose from ancient Rome and has been the main ruling force ever since. See this talk by MH: Modern Money and Public Purpose.  He starts  at about minute 45 until 1h 10m. A fascinating talk, he packs it in and talks fast.   

So what do we do? Try Positive Money for a new approach to banking and credit.

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