Michael Hudson and Radhika Desai on the Long Collapse of Banks

Recently we were told by the Fed that our money is safe. In fact, it’s so safe that the Fed doesn’t even need to regulate it. What has really happened is that the banking system has cannibalized the Treasury Department. We are also told that the banking system is sound. But as our authors say, the banking system in Mordor has been in decline for at least 20 years. Public banking is one long-term solution to the long-standing financial crises.

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