Difference between revisions of "Bailout"
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|image_caption=Credit [[The Dees Illustration Studio]] | |image_caption=Credit [[The Dees Illustration Studio]] | ||
|concept=economic | |concept=economic | ||
| − | |constitutes= | + | |constitutes=financial fraud |
|so_called=1 | |so_called=1 | ||
| − | |description=A globally organised shift of money from ordinary | + | |description=A globally organised shift of money from ordinary taxpayers to the already hyper-rich who control the banking and political systems. |
}} | }} | ||
| + | '''Bailouts''', a thoroughly deceitful metaphor, is the globally organised (presumably at the [[BIS]]) practice of inflating the money supply by creating money ex nihilo and giving it to commercial [[banks]], sometimes with a few token strings attached. | ||
| + | |||
==Official narrative== | ==Official narrative== | ||
| − | The [[Official narrative]] about bailouts is confused and not regularly discussed by {{ccm}}. | + | The [[Official narrative]] about bailouts is confused and not regularly discussed by {{ccm}}. When discussing "[[economic crises]]", attention is focused on people who lose money (the majority) rather than the tiny minority who gain it. The situation with bailouts is similarly obscure - the story is typically couched with misleading metaphors of existential urgency (e.g. "keeping the economy afloat" etc.) as if [[banks]] provide life support to the people. Close discussion about who exactly who decided to bailout which banks to what extent does not figure. |
=="Too big to fail"== | =="Too big to fail"== | ||
| − | One phrase which crops up is that [[bank]]s are "too big to fail", which might suggest that they were too big. Bailouts however are effectively a huge transfer of wealth ''from'' taxpayers ''to'' those invested in the banks, a policy which ''increases'' the wealth of those banks, which increase wealth inequality. Bailouts are faits accomplis, not subject to even a nominal democratic control or performance review. In this sense they were prefigured by another massive financial fraud, the US [[Savings and loan fraud|Savings and loan]] debacle of the 1980s. | + | One phrase which crops up is that [[bank]]s are "too big to fail", which might suggest that they were too big. Bailouts however are effectively a huge transfer of wealth ''from'' taxpayers ''to'' those invested in the banks, a policy which ''increases'' the wealth of those banks, which increase wealth inequality. Bailouts are faits accomplis, not subject to even a nominal democratic control or performance review. In this sense they were prefigured by another massive financial fraud, the US [[Savings and loan fraud|Savings and loan]] debacle of the [[1980s]]. |
{{SMWDocs}} | {{SMWDocs}} | ||
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Revision as of 08:48, 5 November 2016
 "Bailout"  (financial fraud)   | |
|---|---|
 Credit The Dees Illustration Studio | |
| Interest of | George W. Bush |
| A globally organised shift of money from ordinary taxpayers to the already hyper-rich who control the banking and political systems. | |
Bailouts, a thoroughly deceitful metaphor, is the globally organised (presumably at the BIS) practice of inflating the money supply by creating money ex nihilo and giving it to commercial banks, sometimes with a few token strings attached.
Official narrative
The Official narrative about bailouts is confused and not regularly discussed by commercially-controlled media. When discussing "economic crises", attention is focused on people who lose money (the majority) rather than the tiny minority who gain it. The situation with bailouts is similarly obscure - the story is typically couched with misleading metaphors of existential urgency (e.g. "keeping the economy afloat" etc.) as if banks provide life support to the people. Close discussion about who exactly who decided to bailout which banks to what extent does not figure.
"Too big to fail"
One phrase which crops up is that banks are "too big to fail", which might suggest that they were too big. Bailouts however are effectively a huge transfer of wealth from taxpayers to those invested in the banks, a policy which increases the wealth of those banks, which increase wealth inequality. Bailouts are faits accomplis, not subject to even a nominal democratic control or performance review. In this sense they were prefigured by another massive financial fraud, the US Savings and loan debacle of the 1980s.
An example
| Page name | Description |
|---|---|
| 2008 Financial Crisis | "an evisceration of some banks by others...a cannibalistic binge billed to the tax-payer"<a href="#cite_note-1">[1]</a> |
Related Document
| Title | Type | Publication date | Author(s) | Description |
|---|---|---|---|---|
| Document:War Martial Law and the Economic Crisis | book extract | 1 November 2010 | Peter Dale Scott |
