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In reply to the discussion: Who Repealed the Glass-Steagall Act? [View all]Octafish
(55,745 posts)33. Chicago School of Austerity
Money helps control the mob.
Milton Friedman and the Rise of Monetary Fascism
The Dark Age of Money
by JAMES C. KENNEDY
CounterPunch Oct. 24, 2012
EXCERPT...
Monetary Fascism was created and propagated through the Chicago School of Economics. Milton Friedmans collective works constitute the foundation of Monetary Fascism. Knowing that the term Fascism was universally unpopular; Friedman and the Chicago School of Economics masquerade these works as Capitalism and Free Market economics.
SNIP...
The fundamental difference between Adam Smiths free market capitalism and Friedmans free market capitalism is that Friedmans is a hyper extractive model, the kind that creates and maintains Third-World-Countries and Banana-Republics, without geo-political borders.
If you say that this is nothing new, you miss the point. Friedman does not differentiate between some third world country and his own. The ultimate difference is that Friedman has created a model that sanctions and promotes the exploitation of his own country, in fact every country, for the benefit of the investor, money the uber-wealthy. He dressed up this noxious ideology as free market capitalism and then convinced most of the world to embrace it as their economic salvation.
SNIP...
[font color="green"]Monetary Fascism, as conceived by Friedman, uses the powers of the state to put the interest of money and the financial class above and beyond all other forms of industry (and other stake holders) and the state itself.[/font color]
SNIP...
Money has become the state and the traditional state is forced to serve moneys interests. Everywhere the Financial Class is openly lording over sovereign nations. Ireland, Greece and Spain are subject to ultimatums and remember Hank Paulsons $700 billion extortion from the U.S. Congress. The $700 billion was just the wedge. Thanks to unlimited access to the Discount Window, Quantitative Easing and other taxpayer funded debt-swap bailouts the total transfers to the financial industry exceeded $16 trillion as of July 2010 according to a Federal Reserve Audit. All of this was dumped on the taxpayer and it is still growing.
CONTINUED...
http://www.counterpunch.org/2012/10/24/the-dark-age-of-money/
We need to get back to the day when people were more important than profits; when peace trumped money.
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Either converse and say something, or think of questions that have a point...
MrMickeysMom
Jun 2016
#21
I, initially, was asking how, or why, President Bill Clinton's signing the repeal of G-S ...
1StrongBlackMan
Jun 2016
#40
Or, maybe, that she had anything to do with the repeal. There is that possibly. No?
1StrongBlackMan
Jun 2016
#43
Whether she did or did not, she's now on record as being against re-reinstating it as Bernie wants.
whathehell
Jun 2016
#51
Isn't Bill the one that Sen Clinton says will be in charge of the economy?
Winston.Smith
Jun 2016
#52
That is factually incorrect ... The shadow banks were unafected by G-S ...
1StrongBlackMan
Jun 2016
#24
That is the corporate talking points. They desperately wanted Bill Clinton to sign
rhett o rick
Jun 2016
#25
I will respond, though it has been explained time, and time and time again ...
1StrongBlackMan
Jun 2016
#23
You are defending those that made an easy $12 trillion dollars that came from the middle
rhett o rick
Jun 2016
#26
Why then was it so important to repeal it? Your rationalization comes directly from those that
rhett o rick
Jun 2016
#37
Those 25 people are much wealthier today. The rest of us not so much. We really have become
floriduck
Jun 2016
#3
Sheldon Adelson the casino operator saw his fortune grow $2 billion in one day.
Octafish
Jun 2016
#32
Strange how it's OK for Banksters to loot trillions and toss millions from their homes...
Octafish
Jun 2016
#62
Watch Bill Clinton, Larry Summers, and Phil Gramm Have a Love Fest Over Repeal of Glass Steagall
Octafish
Jun 2016
#34
The result is far from an open and shut case of what caused the collapse and you know it.
The_Casual_Observer
Jun 2016
#57