Another interesting video with Prof Hudson. At this point I'd like to know biographical detail, ie how long did he work at Chase, who for, doing what etc? Seeing as you have him on the spot.
This is a great site with some great content, but can i make a suggestion?
Create an rss video feed and establish a channel on Miro (all free), just as Amy Goodman and Democracy Now! have done:
Miro is a killer app if ever I saw one, ideally suited for activists and content creators.
This interview with Michael raises as many questions as were answered.
Historian Carroll Quigley was the first to reveal the behind-the-scenes posturing that gave to the United States the Federal Reserve System of banker-owned banks charged with being the lenders of last resort to banks that experienced runs by depositors.
The law and regulations that created the Federal Reserve System opened the door for what can only be described as massive government fraud, the authority of government to self-create credit by means of the issuance of government bonds, sold to the Federal Reserve Bank which the Bank pays for by the issuance of new Federal Reserve Notes (adding the the supply of currency and diluting the purchasing power of all other holders of currency balances.
It would be interesting to hear what Michael Hudson and other economists have to say about the fraud that serves as so-called "central banking" in the U.S. and every other nation which which I am familier.
Very good presentation. But at sum point this merry go-round has to stop.
My only problem with this idea about the control of the land is why would the land owners sell any to the ordinary guy on the street. Over the last 20 years more and more people have bought there own home controling the land it sits on and if this pace keeps up the rich land owners will have less and less power which will weaken there position.
Re Terence Jones selling off land, in recent years (since 2005)the proportion of people in the UK owning their own home has started to fall, as first time buyers were price out the market and now cannot raise 20% deposits. There are examples in the US of small farmers being force off the land in the 80's and replace by so called Agro business corporations. After WWII many tenant farmers like my Uncle bought the land they work off the large land owners and I suspect this trend is also reversing.
The money center banks have integrated financial services: primary dealer, market maker, brokerage, wealth management, etc. They have a large collection of real time data on investors of various sizes, from retail (individuals) to hedge funds. They also have tremendous leverage, unavailable to ordinary investors, and the rules designed to make a level playing field do not apply to market makers. Essentially, they are able to drive market prices up or down at will using computerized trading with very large share volumes. The shares may or may not exist.
If one were appropriately placed in the first week of March 2009, one would have noticed a large volume of margin maintenance calls going out to retail investors, and perhaps some hedge funds. This is the signal to the market making operations to stop their shorting activity, cover their short positions, and accumulate large long positions. Then in following weeks, the market makers drive the market up. Those now on the short side are squeezed. Those retail investors without the financial or psychological reserves have fled to the apparent safety of low yielding money market funds, t-bills, cds etc. Trillions of dollars are now so lodged. Operations are squeezing shorts, but they are also targeting the trillions in low yield instruments. Those funds will gradually be lured back into shares, at much higher prices, when the illusion of safety returns, chasing gains that will be heavily advertised. This mirage has not yet formed sufficiently, it might take several quarters.
Sweeney Todd couldn’t have liked it more.