The Endgame of The United States Economy

The Endgame of The United States Economy

April 6, 2022

FINANCIAL CAPITALISM: THE ENDGAME

Moment Of Clarity with Lee Camp

Instead of reconfiguring finance to serve the real economy politicians and central bankers used quantitative easing to buy time which lulled the mainstream media into reporting that everything was back on track. Some people haven't bought that story.

Marc Friederich and Matthias Weik are two economists who didn't succumb to groupthink after the 2008 crash and now see financial capitalism's end game.

"Economists and politicians have learnt nothing in the last decade, rather they have merely bought time. The banks who created the last financial crisis continue to be the big winners", says Friedrich. The losers are the working class and underclass who were encouraged to borrow recklessly. And yet it is these latter groups who the American and British press blame for the crisis.

"The establishment are afraid of facing the consequences of a real change in the system", argues Friedrich. "The banks have betrayed all of us…. They manipulated interest rates, for example. Everybody who bought a house with credit was suffering. Then, the politician's we elected bailed out the banks with our taxes. And we thought the politicians are here for us... The banks are still here. Goldman Sachs, JP Morgan, the European Central Bank — they're all still here. Nothing happened. And then, since 2008, the people lost trust in the media as well."

So it's a historical loss of trust all over the place.

The authors argue that it's not just the holy trinity — banks, politicians and media — who are to blame. They also point a finger at the public's inability to take personal responsibility.

"Change always comes from the people. We are more than them. And if we're not taking the step forward and change something nothing will change"

Friedrich also adds, "That's why we say we the people have to create the change right now. The monetary system failed. It's bankrupt. We have to change it. Let's think about a new monetary system…. We have to create the change. And if not creating it there will be a lot of damage. That's what we all have to face right now."

READ MORE: https://medium.com/@renegadeinc/financial-capitalism-the-endgame-7aa15da591cc

Thank you producers! -- Robin Laurain, Andrew Standfast, Orleny Silverio, FreeAssangeNow, Michaelynn Kyjonka, Medea Benjamin

Original: https://youtu.be/oNyRmBN-tFA

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