134770Buying Up the Planet: Out-of-control Central Banks on a Corporate Buying Spree: imprimir e comprar
- Jun 22, 2014
Print and buy . Dematerialized warfare.
(Imprime e compra – in Portuguese)
Buying Up the Planet: Out-of-control Central Banks on a Corporate Buying Spree
“Finance is the new form of warfare – without the expense of a military overhead and an occupation against unwilling hosts. It is a competition in credit creation to buy foreign resources, real estate, public and privatized infrastructure, bonds and corporate stock ownership. Who needs an army when you can obtain the usual objective (monetary wealth and asset appropriation) simply by financial means? Dr. Michael Hudson, Counterpunch, October 2010
When the US Federal Reserve bought an 80% stake in American International Group (AIG) in September 2008, the unprecedented $85 billion outlay was justified as necessary to bail out the world’s largest insurance company. Today, however, central banks are on a global corporate buying spree not to bail out bankrupt corporations but simply as an investment, to compensate for the loss of bond income due to record-low interest rates. Indeed, central banks have become some of the world’s largest stock investors.
This is a rather alarming development. Central banks have the power to create national currencies with accounting entries, and they are traditionally very secretive. We are not allowed to peer into their books. It took a major lawsuit by Reuters and a congressional investigation to get the Fed to reveal the $16-plus trillion in loans it made to bail out giant banks and corporations after 2008.
What is to stop a foreign bank from simply printing its own currency and trading it on the currency market for dollars, to be invested in the US stock market or US real estate market? What is to stop central banks from printing up money competitively, in a mad rush to own the world’s largest companies? “
Recently , my daughter who is half way to finish an MBA here in Brazil, decided to do the work for one of the disciplines of the course by, studying the history of two centenary companies in the area of personal care, believing they were still owned by Brazilians However, she found out they were both quietly acquired by an American- she was somewhat disappointed . It is politically and economically incorrect to be against operations like that. Seen in isolated fashion they seem ok, and even recommendable. “Rich” countries control the “buying” process, with the help of the local media, brainwashed and “well educated” economists, and corrupt politicians of the target country. As one can see, all it is needed is, first of all, the power to print money , and then have it accepted. This mechanism, “print & buy “, is more effective than war to conquer markets. Gone are the days when the free markets were opened by the British navy. Now it is simpler, and in a way more lethal. Countries need to have ways to protect their economy, even protect it from themselves. As the article states, “finance is a new form of warfare” . We all need to be prepared to it as the systems enter a globalized process of decadence”. The point is: finance don’t differentiate citizens of the country were they have the main office from citizens from other countries: we are all prey to finance.
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