Tuesday, May 22, 2012

Part Three of Six Parts_ Credit As A Public Utility_ The Solution to the Economic Crisis.flv

Federal Reserve Interest Rates - Part Three of Six Parts_ Credit As A Public Utility_ The Solution to the Economic Crisis.flv.
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We had a good read. For the benefit of yourself. Be sure to read to the end. I want you to get good knowledge from Federal Reserve Interest Rates . via dandelionsalad.wordpress.com and with permission from Richard C. Cook Part Three of Six Parts: Credit As A Public Utility: The Solution to the Economic Crisis "The Collapse of the Financial System" Written and Produced by Richard C. Cook Summary: The collapse we are seeing today began in the financial system, not the producing economy. The crisis started with the housing bubble which the Federal Reserve created by cutting interest rates and then brought own by raising them. The trigger of the 2008 bank meltdown was refusal by European banks to purchase any more "toxic" US debt based on mortgages and sold as securities. Now, with the decline in equity values, the burden of debt in our economy has grown even larger. Thus a renewal of bank lending will not solve the problem, while the economic stimulus program of the Obama administration is likewise insufficient to restore economic health. Richard C. Cook is a former US Treasury analyst who also worked in the Carter White House and for NASA and writes on public policy issues. His new book is We Hold These Truths: The Hope of Monetary Reform (Tendril Press 2009). His website is www.richardccook.com. He is a member of the US Basic Income Guarantee Network and has been an adviser to Congressman Dennis Kucinich and the American Monetary Institute. Purchase the DVD at Richard C. Cook's website
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