Listen to my 30 minute, Part I, interview with ‘Radio For All’ on the role of financial asset markets (i.e. stocks, bonds, currencies, derivatives, property values, etc.) as causes of growing income inequality in the US.
How the US central bank (Federal Reserve), private banks, and shadow banks in the 21st century have become the main drivers of accelerating US income inequality.
In the interview Dr. Rasmus summarizes the major themes of his recently published books: ‘Alexander Hamilton and the Origins of the Fed’ (March 2019) and ‘Central Bankers at the End of Their Ropes: Monetary Policy and the Coming Depression’ (August 2017), explaining how the Federal Reserve originated out of the private banking system and how capitalist banking in the US has evolved since 1781.
How income concentration among the wealthy has been bloating financial markets and creating financial driven income inequality, and why the Fed now performs a primary function of subsidization of incomes for investors, corporations, general business, and the wealthy 1%.
Rasmus explains how the prime objective of US monetary policy today is stabilizing financial asset markets and subsidizing capital incomes–not ensuring 2% inflation or any other announced ‘target’. Why the stock market fell 30% last November-December 2018 and why it recovered after the Fed stopped raising interest rates. Trump vs. the Fed and the capitalist myth of central bank independence.
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TO LISTEN TO PART I GO TO:
http://www.radio4all.net/files/cheryl@ct911truth.org/4212-1-JACK_RASMUS_PART_1.mp3
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