The BS of the Fed – Where the Magic Happens

(updated 8/19/2020 3:30am PT) How can we Structure the Financial System to be Compatible with a Shared Ownership Economy? (Part 4) The balance sheet of the Fed will give you clues as to the health of the economy and of society as a whole. In the prior post I mentioned the Great Decoupling – theContinue reading “The BS of the Fed – Where the Magic Happens”

Decoupling

Summer of 2020 will be remembered as the Great Decoupling – the point in time when Financial Capitalism decoupled from the Capitalist economy. Yanis Varoufakis explains in 22 minutes what I have been trying to write about this month as part of this workshop. Something I find humbling and exhilarating at the same time! IContinue reading “Decoupling”

The Fed’s Superpowers

(updated 8/18/2020 9:40am PT) How can we Structure the Financial System to be Compatible with a Shared Ownership Economy? (Part 3) Part Three – The Fed’s Superpowers The Federal Reserve is an interesting beast. It is the key player of the money and banking system – it can issue the national currency, it facilitates theContinue reading “The Fed’s Superpowers”

Breaking the Money Taboo

(updated 8/14/2020 9:40pm PT) How can we Structure the Financial System to be Compatible with a Shared Ownership Economy? (Part 2) For Part One of this essay please see What Does Finance do for Society? Part Two – Money and Banking Let’s start with money and banking. Here is the web page I developed onContinue reading “Breaking the Money Taboo”

What does finance do for society?

How can we Structure the Financial System to be Compatible with a Shared Ownership Economy? (part 1) The most compelling topic for me is at this point is what would a financial system compatible with democratic values and ecosystem and social health look like and how do we bring about such transformation? Clearly, articulating theContinue reading “What does finance do for society?”

Bill Clinton and the Bondholders

Bill Clinton entered the White House in January 1993 with an ambitious plan of social programs including the reform of the healthcare system to provide universal coverage. Robert Rubin, a Goldman Sachs boy, joined the Clinton administration as Assistant to the President on Economic policy. After learning of Bill Clinton’s progressive social agenda he simplyContinue reading “Bill Clinton and the Bondholders”