Drugs, Terrorism And Medicare Fraud: HSBC's Messy Money Laundering Investigations
Unregulated capital has been a topic we have discussed a lot on here. One of the consequences of unregulated capital is that politicians and bankers have given criminals an entree into legitimization. They have given criminals a way to globalize their syndicates and the launder their money into legitimate investments. So, rather than re-regulate capital and offend their banking masters, what do politicians do? Simply increase the size of the police state to deal with the very problems the state created in the first place. The economic and social violence that is so prevalent in our country is a reflection of the violent values of the state. Our world has truly gone mad courtesy of political idiots.
I can assure you the future is going to be wildly different. We are most certainly going to see a return to regulated capital flows. Just as happened after the collapse of 1929. Yes indeed. Been there, done that. Glass-Steagall is not the only financial regulation that has been destroyed. Thirty years of criminal bankers dismantling financial regulation is at the core of this global economic bust.
We need a public banking system. One that is out of reach of political idiots and one that has a mission of serving democracy and human development rather than enriching a very few group of bureaucrats.
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