With all the voices warning of the rise of fascism in America, it would serve us well to define fascism to ensure we understand each other and can discuss the matter with intelligence and civility. Our friend Sheldon Richman is helpful for this point with his thorough entry in The Concise Encyclopedia of Economics. Here is an excerpt: Continue reading
When you print money, the money does not flow evenly into the economic system. It stays essentially in the financial service industry and among people that have access to these funds, mostly well-to-do people. It does not go to the worker. I just mentioned that it doesn’t flow evenly into the system. Continue reading
Yet, the American public is virtually and completely unaware.
In what might be one of the most important credit events about to occur in the history of the financial world, the International Swaps and Derivative Association (ISDA) is expected to make a decision as early as today on whether five major US banks will go insolvent according to Jim Sinclair in an interview on January 30th.
The ISDA is one of the most powerful monetary entities in the world, and in many cases according to Mr. Sinclair, has more power than governments. It’s dominion spreads throughout the entire banking system, determining whether one or more of the nearly $1 quadrillion in derivatives and credit default swaps are paid out to holders in the event of a bank, sovereign nation, or securities default.
In his interview with Ellis Martin, Mr. Sinclair lays out that the decision by the ISDA could take place as early as today, and no later than this week, and it involves five major US banks, the nation of Greece, the Euro, and the chances of a massive QE bailout in the Western economic system.
Continue reading article: Jim Sinclair: ISDA to determine this week if five major US banks go insolvent (Examiner)
Interview link: Breaking News Ellis Martin Report with Jim Sinclair