Bailing Out Wall Street, Sacrificing Main Street — on It’s Our Money

Coming up every Wednesday at 9:00 am Pacific – 12 Noon Eastern – 16:00 GMT

IT’S OUR MONEY with Ellen Brown

Bailing Out Wall Street, Sacrificing Main Street

The bank-owned Federal Reserve has been taking unprecedented actions of late propping up capital markets, corporations and banks in response to the economic impact of the Covid pandemic and the covert collapse of the financial system dating back to mid-2019. Among their recovery mechanisms has been the purchase of grouped market assets called Exchange Traded Funds (ETFs) managed under a no-bid contract with BlackRock, the world’s largest asset manager and ETF manager. Ellen discusses Blackrock’s place in the monetary stratosphere, the glaringly obvious conflict of interest and self-dealing in its arrangement with the Fed, and how this backdoor bailout has served Wall Street at the expense of Main Street. Then she talks with ETF scholar and expert Ryan Clements, who takes us on a deep dive into the mechanics of these super-large and unregulated funds, how they exploded on the scene, and what it means for the real economy. Meanwhile, America’s states and cities are struggling to address significant pandemic-driven budget shortfalls, for which the Fed has not been very helpful. Walt talks with economist Dr. Robert Hockett about how the Fed’s Municipal Liquidity Facility needs to be revised to enable real Main Street financial support.

A Public Banking Institute Presentation.


This show was broadcast on July 8, 2020.

      Listen to the Archive Here
For downloads and more click here to SUBSCRIBE!



Share

Comments are closed.

CLICK HERE to Listen with iTunes, VLC, Winamp, or other players
No Lies Radio Visitors


Join Our Email List

* required

*



*



By joining our email list you agree to our Privacy Policy.

Archives

August 2020
S M T W T F S
« Jul    
 1
2345678
9101112131415
16171819202122
23242526272829
3031  

User Login