The Trump Administration has presented the first part of its plan to overhaul a number of Wall Street financial regulations, many of which were enacted in the wake of the 2008 financial crisis. The report is in response to Executive Order 13772 in which the US Treasury Department is to provide findings “examining the United…
What is euphemistically called “fractional-reserve banking” is obvious fraud, and obvious crime. By its very definition; it transforms the banking sector of an economy into a leveraged Ponzi-scheme, and as with all Ponzi-schemes, there is no possible “happy ending” here. Mathematically-based principles are often illustrated best through use of an extreme, numerical example. We have…
Huey Long was assassinated in 1935. But the spectacle of Bush, and the Democrats, and the Republicans who made nice and got together to bail out Mafia’s Wall Street – at the expense of the common people – brought his words to mind.
What is euphemistically called “fractional-reserve banking” is obvious fraud, and obvious crime. By its very definition; it transforms the banking sector of an economy into a leveraged Ponzi-scheme, and as with all Ponzi-schemes, there is no possible “happy ending” here. Mathematically-based principles are often illustrated best through use of an extreme, numerical example. We have…
