Guns and Butter, for February 29, 2012 - 1:00pm
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"The Greatest Bank Robbery Ever" with William K. Black. Banks, intensifying financial crises; money manager capitalism; sovereign currency; crony capitalism; theoclassical economists; control fraud, Commodities Future Modernization Act of 2000; S&L Liars' Loan Crisis of 1990-91; Reinventing Government Movement; deregulation, desupervision and defacto decriminalization; fraud incentives; looting; subprime; Enron; Parmalat; BofA; Citigroup; Ameriquest; Washington Mutual; systemically dangerous institutions; Financial Accounting Standards Board (FASB); faux stress tests; European austerity crisis; Mario Draghi, President of the ECB.
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Summary of this excellent interview: http://www.capitalismwithoutfailure.com/2012/03/bill-black-usa-exports-f...
Bonnie, you rock! I'm on the east coast (Wash DC). I always look forward to your show. Love you. Keep up the awesome work.
Please ! Would someone recommend a book , or some means of understanding this scenario, I've never had any exposure to economic theory much less practice, I feel utterly helpless and angry having suffered from ignorant investments most recently.
Start off with these:
(1) Web of Debt, (4th edition only) by Ellen Brown. Order from her website: www.webofdebt.com
(2) Screwed: The Undeclared War Against the Middle Class
(3) Bad Samaritans: the Myth of Free Markets and the Secret History of Capitalism, by Economics Prof, Ha-Joon Chang
(4) Shock Doctrine: The Rise of Disaster Capitalism
(5) The Myth of Free Trade, by Economist Prof Ravi Batra
(6) listen to the Thom Hartmann show, M-F, 3-6pm EST at www.thomhartmann.com (very knowledgeable on basic economics)
(7) go to Jack Rasmus website: google Jack Rasmus. Jack is economics professor at Santa Clara University, CA. Easy to understand. Breaks economics and finance down where should be able to understand most of his information
(8) Richard Wolff, economics professor. this dude makes it plain. He's a scholar in Marxian economics
(9) www.michael-hudson.com (econ professor) Mike can get complex, I for the average lay person
10) Age of Greed, by Jeff Madrick (has masters in economics)
(11) Unequal Protection . . ., by Thom Hartmann
(12) the Greenspan Fraud, by econ professor Ravi Batra
http://neweconomicperspectives.org/p/modern-money-primer.html
I suggest the following:
Web of Debt by Ellen Brown http://www.webofdebt.com/
and
The film MONEY MASTERS http://video.google.com/videoplay?docid=-515319560256183936
just for a very basic start
Dear Bonnie, thank you for this interview.
Is there a transcript available? That would be so much appreciated.
Thanks for having Hudson & Black on. I hope you continue to have the professors from the UKCM economics department on. It would be nice to have members of the New Economic Perspectives like Stephanie Kelton, L Randall Wray, or Warren Mosler to give a primer on MMT as most people do not understand how are monetary system works, and how a nation that issues it's own currency is not revenue constrained. Nor does it rely on taxes or borrowing.
For Prof. William K. Black
Just talking about clumsiness: You did not need to send your economic experts for so-called "Reinventing Government" to Europe, because since 1920 they were already here; see: "Die Linke und ihr Problem mit der Abwicklung des Sozialstaats" in "Linke Zeitung" 24.12.2006:
http://www.linkezeitung.de/cms/index.php?option=com_content&task=view&id...
So why do you support creating new myths about their supposed sudden emergence in Rest-of-The-World-Europe?
You'd better explain to people the real causes for paradigmatic shift within theorists' community from public towards privately run central planning! And even those of the Keynesian fraction, they were not at all gangsters who twisted themselves from being Socialists into getting Neoliberals.
There was, at least over about 30 years, big and unnecessary tolerance given to societal ideas which were very obviously devoted to turning democratic striving into feudal resurrection.
"They know things that are not true" shows that most of the academics in economics have a faith-based philosophy of humanity every bit as strong and delusional as the religious and political zealots who start wars and overthrow governments. America and Europe are helpless before such fundamentalist immoral zealotry because they are amoral and truly don't believe in much of anything. In the land of the blind the one-eyed and cross-eyed thief is truly king.
Was the change in page format, making it impossible to download the program to a mp3 player like an iPod, intentional?
This is another work of journalistic excellence.
Fraud, corruption and dirty dealing is the new M.O. in banking and business since repeal of
Glass Steagall Act. Mr. Black verifies what I've suspected for a long time, that the 'Federal' Reserve Bank actually perpetuates fraud and forgives financial criminals while forcing the US Tax Payer to cover the losses that they create. Why would the 'Fed' do this you ask? My understanding is that the US Treasury must mint new notes to replace the losses that these criminals create. The Federal Reserve charges the US Treasury (and thereby, the US Tax Payer) a 10% fee for each new Dollar that is printed and turned over to the FRB for distribution to private banks. Looking to the Chairman of the Federal Reserve to regulate our Financial Systems is like asking the fox to guard the hen house. This Guns & Butter show also made me think back to WTC Building 7. That building contained the case files for hundreds of major SEC and FBI financial fraud investigations. I would love to know the names of some of the investment banks and corporations that escaped prosecution as a direct result of WTC Building 7 's destruction. Again, Great Work & Hats Off to Bonnie Falkner for tracking down Mr. Black and going all the way out to Italy to interview him.