While the banks responsible for today’s economic crisis are enjoying unprecedented benefits, state and local governments are forced to maintain very large and wasteful rainy day funds, even as they are slashing services to balance their budgets. They have to do this because they do not have the secure, nearly-interest-free credit lines available to private banks.
in the time remaining, to help us understand how the man-made system of capitalism will lead to the extinction of our human species, and so many others.
Saturday, June 5, 2010
Banks Profit From Near-Zero Interest Rates: Another Reason For States To Own Their Own Banks by Dr. Ellen Brown
by Ellen Brown from Dandelion Salad. The author continues to demystify the money games that the private banking system plays at the expense of the public. She is the author of "Web of Debt" which I highly recommend as a must-read book.