Must Read: David Korten: "How to Liberate America From Wall Street Rule"

[amborin]

and how to create jobs:


Stop using Federal Reserve QE (Quantitative Easing) funds to further enrich Wall Street banksters.

(granted QE1 and QE2 are gone; but there may be a QE3 on the horizon)

Instead, Federal Reserve $$$$$$ should be used to:


"Create a Federal Recovery and Reconstruction Bank to finance critical green infrastructure projects
designated by Congress. It would be funded with the money that the Federal Reserve creates when
it determines a need to expand the money supply. Rather than introducing that money into the economy
through Wall Street banks, it would instead be introduced through the Federal Recovery and Reconstruction Bank"

snip

"Virtually every major Wall Street financial institution is a corporation created
by a government-issued charter extending rights and privileges not available to an
individual. The money that fuels Wall Street’s speculative frenzies originates with
the Federal Reserve, a creation of government. Most Wall Street corporations would
have gone out of business in the financial crash of 2008 if not for a massive bailout
from the U.S. Treasury and the Federal Reserve....."

snip

"Rewrite international trade and investment rules to secure national ownership,
self-reliance, and self-determination. Bring international rules into alignment
with the foundational assumptions of trade theory that the ownership of productive
assets belongs to citizens of the country in which they are located and that trade
between nations is balanced. Hold corporations operating in multiple countries
accountable for compliance with the laws of each country of operation...."

snip

this is a long document and I've only read snippets. Korten spoke on KPFK talk left radio the other
day and his ideas sound compelling.

the entire document is here:

http://www.neweconomyworkinggroup.org/sites/default/files/LiberateAmericaPRINTABLE.pdf

[banned from Kos]

1. another idiot who does not know that NONE of QE goes to

"banksters".

QE bought Treasury bonds and GSE bonds - both from the US Government - and Krugman says to buy more.

[amborin]

3. nonsense; QE made lots of cheap $$$$ available to banks, not to working Americans

[banned from Kos]

5. No it doesn't - the Fed Funds rate is .25% with or without QE.

if you have window privileges. Now that is certainly "cheap money" or cheap loans. A bank must still post Treasuries as collateral to get those low interest rates.


He is confusing you. Low interest rate help Wall St - not QE.



So QE is a targeted program of BUYING Government bonds FROM the government --- no Wall St gain there (other than tiny primary dealer commissions)

[Octafish]

6. You must be on auto-pilot, defending the banksters.

Surprised you didn't call the guy in the OP a ratfucker.

[marmar]

2. David Korten really has a vision of what a future cooperative economy can be like.....

........ but we're trapped in the death grip of financialization. Someone ought to listen to him.

[BeFree]

4. That would be socialistic

Having government employees dishing out the money from the government right to the people who need it and bypassing the private bankers would be one more giant step toward socialism.

I like it.

[WillyT]

7. K & R !!! - Thank You !!!

:hi:

:kick:

[DeSwiss]

8. K&R n/t

[sam11111]

9. did england nationalize ALL banks about '47?

Nt