The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
we find that government can (not) control the monetary mass unless it controls directly the banks
I think that it is more important is to regulate the purpose of the loans and the quality of the loans, but this has not yet been shown to be feasible over a century. Given the money that can be made through destructive lending combined with capture of regulatory enforcement and policy of the government by large banks, strict limits on political contributions may not work -- bankers will just capture that regulatory process, as they have done in the USA.
Given that, I think direct government control of banks might actually be worse than the existing arrangement. It certainly would require an actual functioning representative government that is based on votes and not contributions. In the USA monied interests have always had a disproportionate influence on government, but over much of our history there have been competing financial interests that prevented total domination by one sector. There still are a number of competing interests, but the relative weight of the financial sector is probably at an all time high.
The general population is becoming more and more aware of the disconnect between finance and the rest of the economy and society in the US, but they may well be effectively misdirected by Tea Party astroturfing on behalf of very self serving interests masquerading as libertarians, such as the owners of Koch Industries, Rupert Murdoch, etc. The broadcast media is owned by large financial interests and cannot undercut their interests.
And all of this is occurring within a society that has been transformed into an adjunct of the economy. One result is that, compared to economic claims, all other concerns are made to seem less legitimate. But the fact that the government is run in the interests of a loose alliance of wealth whose most basic interests are self serving has generated what I believe will be uncontrollable instabilities.
I do not see how this can be changed for the better without a larger portion of the population, including some monied interests, coming to see that it is in their interests to create greater stability by looking to sustainability and allowing more of the benefits of the economy to go to the bottom 99% of the population.
"It is not necessary to have hope in order to persevere."
by Frank Schnittger - Sep 24 2 comments
by Oui - Sep 19 18 comments
by Oui - Sep 13 32 comments
by Frank Schnittger - Sep 11 5 comments
by Cat - Sep 13 9 comments
by Frank Schnittger - Sep 2 2 comments
by Oui - Sep 26
by Frank Schnittger - Sep 242 comments
by Oui - Sep 1918 comments
by gmoke - Sep 173 comments
by Oui - Sep 153 comments
by Oui - Sep 15
by Oui - Sep 1411 comments
by Oui - Sep 1332 comments
by Cat - Sep 139 comments
by Oui - Sep 126 comments
by Frank Schnittger - Sep 115 comments
by Oui - Sep 929 comments
by Oui - Sep 713 comments
by Oui - Sep 61 comment
by Frank Schnittger - Sep 22 comments
by gmoke - Sep 2
by Oui - Sep 1177 comments
by Oui - Aug 315 comments
by gmoke - Aug 302 comments
by Oui - Aug 304 comments