The Bank for International Settlements (BIS) is an organization shrouded in mystery. This may be due mainly to the fact that the majority of people don’t even know of its existence.
Economy
EU banking chiefs are repressing their own workers to save the 1%
“Neither national nor European worker protection laws apply to the ECB, because it is not part of any nation. Nor is it a European state,” said an ECB staffer.
Time for the Nuclear Option: Raining Money on Main Street
Predictions are that we will soon be seeing the “nuclear option” — central bank-created money injected directly into the real economy. All other options having failed, governments will be reduced to issuing money outright to cover budget deficits.
Uruguay Shows the Way by Leaving Secret Trade Deal
After months of intense pressure led by unions and other social movements—including a general strike on the issue—the Uruguayan President listened to public opinion and left the US-led trade agreement.
History Doesn’t Go In a Straight Line
Noam Chomsky on Bernie Sanders, Jeremy Corbyn, and the potential for ordinary people to make radical change.
Britain: The End of New Labour’s Reign of Terror? Jeremy Corbyn, Quo Vadis?
Jeremy Corbyn will have to face this monster, not only in the House of Commons but also in the mass media and the Internet. He will have to face the decades of Anglo-American political and economic incest, not that only manifested in the past century’s wedding of US plutocracy with British aristocracy.
Quantitative Easing for People: The UK Labour Frontrunner’s Controversial Proposal
One would hope that Cameron and Osborne fully understand the mechanics of modern money creation (although a recent survey by Positive Money shows 90% of their fellow MPs do not). Most of our money is created by private banks when they make loans. It doesn’t have to be this way. Another world is possible.
It’s Never Been More Important To Ask What’s Wrong With Work
The capitalist class regards us all as nothing more than thieving scroungers, ever ready to skive if we are given half a chance. And it is not the payment of benefits that really irks the rich – it is the refusal to put our human capital – our minds and bodies – into their service that enrages them. How dare we not work to fatten their wallets.
Corbyn and challenges to political power
By the time politicians reach Westminster, they do not need to be recruited to a cabal. They have simply proven over a long period that they have a strong ideological fit with the institutions that govern us. If not, their careers would have stalled much earlier, in the lower rungs of these institutions, or they would have “dropped out”. The same processes select those who fill top posts in the media and other influential “professions”.
“Don’t Owe. Won’t Pay.” Everything You’ve Been Told About Debt Is Wrong
Challenges to these debts cannot be based on appeals to the letter of the law alone when the laws are biased in favor of creditors. There is, however, a legal principle for challenging otherwise legal debts: the principle of “odious debt.” Originally signifying debt incurred on behalf of a nation by its leaders that does not actually benefit the nation, the concept can be extended into a powerful tool for systemic change.
Brave (miserable) new normal world
The era of central banks printing electronic cash in a QE free-for-all – cheap money directly boosting “market volatility” – may not be over, yet. Let’s see what happens this Thursday, when a symposium of central bankers in Jackson Hole, Wyoming, will be examining what to do about “market volatility”.
Central banks absolutely love to drive up stock market prices for the benefit of the 0.0001 percent. So expect more delusion ahead. But be sure everything that’s solid melts into air. Including the neoliberal dream.
Trumping the Federal Debt Without Playing the Default Card
If the Nation can issue a dollar bond it can issue a dollar bill. The element that makes the bond good makes the bill good also. . . . It is absurd to say our Country can issue bonds and cannot issue currency. Both are promises to pay, but one fattens the usurer and the other helps the People.
Recent
The Killing Fields of Lebanon as ‘Israel’ Lashes out Against Civilians
The Real Story Tying Starmer and Mandelson is Being Buried By A Conspiracy of Silence
Revealed: The internal police guidance on chanting ‘death to the IDF’
Media Exposed: Abby Martin Interview
Iran: A Warning to Washington
Marandi Exposes Times Radio Propaganda on Iran
Iran: War Updates and False Flags
‘Operation Epic Fury’ – Anatomy Of A War Of Aggression
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