Remember when the infamous Goldman Sachs delivered a thinly-veiled threat to the Greek Parliament in December, warning them to elect a pro-austerity prime minister or risk having central bank liquidity cut off to their banks? (See January 6th post here.) It seems the European Central Bank (headed by Mario Draghi, former managing director of Goldman Sachs International) has now made good on the threat.
“Any country that resists going along with the troika’s austerity program may find that its banks have been cut off from this critical liquidity, because the government and the banks are no longer considered “good credit risks.” And that damning judgment becomes a self-fulfilling prophecy, as is happening in Greece.”
Like Dick Durbin said, “The banks own this (Congress) place.”
So long as citizens rely on capital to pay rent/mortgage, taxes, food costs, energy costs, clothing costs, forced health insurance costs, car insurance costs, and anything else, the bankers have us by the gonads.
Of course, As Ms. Brown frequently points out–the sane and just solution is a People’s or State Bank as is the prosperous case in North Dakota. The problem is that our congress, bankrolled by those who want to keep the system of coercion and control in place are not apt to be willing to vote for an end to the Fed (and thus the continued rule by Mammon with lots of help from millions of armed gendarmes and “Mars rules”).
Here’s an incisive view:
I think much more than a public bank we need public money, that is we need to reclaim the money power from the private institutions who rule the FED. Money Power is what 8th president, Martin van Buren, called the power to issue money. It is the issue that sparked the American Revolutionary War, when the colonist’s paper money systems were outlawed by the British government, controlled by the Bank of England. We won the revolution militarily because we used that power for the Continental, which not only funded the revolution it WAS the revolution. Then Congress surrendered that power to a private bank and in 3 years the US was in debt to the Bank of England. We need to take that power back and there was even a proposal in Congress to do that; The NEED Act which can solve this problem for us and because of US power could have done it for the world as well. The banks will do just fine without controlling the money power and it will get them out of geopolitics. What other business can just create money when they want to? None should be allowed that power.