To listen to my continuing analysis and critique of central banks (and the collapse last week of Banco Popular in Europe), go to my Alternative Visions show of June 9:
Go to:
http://prn.fm/?s=Alternative+Visions
Or go to:
http://alternativevisions.podbean.com
SHOW ANNOUNCEMENT:
In the first half of the show, Dr. Rasmus reviews key economic events of the past week, including the collapseof ‘Banco Popular’ bank in Europe and what it might mean in coming weeks to Europe’s fragile banking system, the emerging problems in Junk Bonds and the retail sector in the US, renewed falling oil prices, the US House passing the ‘Financial Choice Act’ and new bank deregulation, and Turmp’s phony ‘Infrastructure Week’ announced this past week and why ‘infrastructure’ really means privatization. Rasmus then discusses the origins of the US central bank, the Federal Reserve, in 1913 and how central banks evolved out of private banks and still retain deep connections to private banking systems. How the Federal Reserve originated from the Financial Crisis of 1907 and was developed by big New York banks as a way to capture control of a monopoly of a single currency, become the national ‘clearing house’ of all banks, and create an institution, the Fed, that would provide money to bail themselves out during periodic bank crises instead of having to bail themselves. Jack describes the early structure of the Fed, and how it was owned, financed, and directly controlled by the private banks, with the New York Fed operating as the ‘central bank of the central bank’. (Next Week: The Evolution of the Federal Reserve from the great depression to the crash of 2008).
Dr. Jack Rasmus @drjackrasmus
Jack Rasmus 
Once again a thank you to Dr. Rasmus for his important review of the history of the central bank in the United States; this bank has played an important role along with its political allies both Democratic and Republican over the past 30 years to transform the American economy, dismantle democracy and produce extreme income inequality; this is known as neoliberalism. Noam Chomsky in a recent interview approached the problem of neoliberalism in a different manner but comes to similar conclusions. In his austere phrase, he points out that human race faces an existential dilemma by which he means that tens of millions if not billions of people may die as a result of nuclear Holocaust and or environmental collapse. This existential dilemma is only made possible by the unrelenting attack on democracy in the US and worldwide and the major vehicle for that attack is the economics of neoliberalism. In Dr. Chomsky’s view, the only hope for human survival is by real democracy and implied in his interview is that the only hope for real democracy is the dismantling of neoliberal economics.