Welcome to Capital Account. Many have looked to Mario Draghi’s leaked comments for hints about the upcoming European Central Bank’ policy. His comments suggested the ECB could directly buy government bonds maturing in three years or less. Meanwhile, Moody’s changed its EU outlook to negative on concerns about the core AAA countries that fund the EU.
Also, Ben Bernanke’s Jackson Hole speech brought up a debate between economists about whether the US’s unemployment problems are structural or cyclical. Some of those who believe unemployment is cyclical argue inflation is low and the Federal Reserve should do more to help the jobs situation. We look at this assumption about inflation with Bob English, guest contributing editor at ZeroHedge. He takes a special stroll onto Washington’s streets to ask ordinary people what, if anything, they know about shadow banking and the role it plays in the inflation vs. deflation debate!
Bob English Shines the Light of Inflation upon the Shadow Banking System!
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There is pure evil in the world and it will find a way to harm you. Fancy high finance is over the head of most people and they will never understand. These players aren’t satisfied with casinos but had to create the ultimate gaming system in the world. All the marbles are riding on this destructive game of derivatives. It’s pain can linger the rest of your life. It is no different than a violent crime because the end results are usually the same — devastation.
All this money going to the banks has done little to help the job situation unless you count the bankers hiring more gardeners and maids to clean their mansions. The US cannot survive on a service economy, we need to boost production jobs and the banks are not using the money to further this. They are using the money to gamble in the derivative market which helps nobody but their own pockets.
Anyone borrowing money these days should stipulate in the contract that the note will not be sold or leave the bank issuing said note. If it does the note becomes void and the bank loses. Hit the banks where it hurts. If they won’t play and loan the money find a small local bank that will.
I believe that if we let Ron Paul become president, He will be able to expose most of the evil works of the banks. He’s the only candidate that we should all trust. It’s good that a few more people are now a little bit more aware about the bank’s works.
The only way for the average person to steer clear of this financial terrorism is to refuse to play their game. That means not having a brokerage account, not having a personal retirement account, only having a marginal checking and saving accounts with a minimal balance, NO DEBT if you can possibly avoid it, and ANY extra cash should be put into some hard tangible and portable asset that YOU control. The best hard assets, of course, would be PMs. Remember, inflation is baked in so hard assets that are NOT included in the basket of goods that are used to calculate inflation, will typically go up in value, de facto.
Now I understand why my grandparents and parents and those that lived through the depression were very skeptical of the financial system and all the claims of the shills about the need to be “invested” in the market. WE are the piggy bank for those that invented these financial shenanigans.
That’s weird, the title of this article is about Bob English talking but the title of the video is about Bill Murphy talking. The titles of both of them don’t match each other.
Yeah @The-Doc it’s the wrong link. Should be
hmm…weird since this was posted Tuesday night and the Bill Murphy interview came out Wednesday. Perhaps Capital Account loaded today’s interview on yesterday’s link accidentally? I’ll try to update it. Thanks for the heads up.
@Not Sure: Yes You’re 100% Right!!
The only way to walk away from fraud is not to participate. The only way to walk away from dishonesty is to not lie yourself. The only way to walk away from being drugged is to be sober. The only way to walk away from infighting is to not fight. The only way to walk away from hatred is to love. The only way to walk way from evil is to turn to good.
The only way to walk away from disinformation is to go and find the information that’s there. And people like us, some of us will get horribly hurt and perhaps die but others will carry on and speak truth and have (modest) morals and stick together and they will thrive. There’s nothing can be changed about that anymore I’m afraid. But you and me and everyone else we can make a change and it’s simply by staying true to ourselves and also instead of the libertarifucktard attitude that some want to paint us folks with, try and help other honest folks.
My voting advice to US ppl: don’t. How great would it be if over 70 or 80 % just would not vote. That would be a signal. Same here in EUR btw. I’m probably going to vote Pirate Party here, because at least it might get 1 or 2 seats in our parliament that represent Internet freedoms and some knowhow, sorely lacking in all other parties.