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deutschewelle@squeet.me
Deutsche Welle (inoffiziell)

Senat bestätigt Jerome Powell als Chef der US-Notenbank Fed | DW | 12.05.2022

Wegen der hohen Inflation in den USA steht der Fed-Chef derzeit besonders im Rampenlicht. Der Senat gab nun grünes Licht für eine zweite Amtszeit von Jerome Powell. Dieser stimmte die Bevölkerung auf harte Zeiten ein.#JeromePowell #Fed #US-Notenbank #FederalReserve #Senat #Bestätigung #USA #Notenbankchef
Senat bestätigt Jerome Powell als Chef der US-Notenbank Fed | DW | 12.05.2022

Senat bestätigt Jerome Powell als Chef der US-Notenbank Fed | DW | 12.05.2022

Wegen der hohen Inflation in den USA steht der Fed-Chef derzeit besonders im Rampenlicht. Der Senat gab nun grünes Licht für eine zweite Amtszeit von Jerome Powell. Dieser stimmte die Bevölkerung auf harte Zeiten ein.

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altcoopsys@diasp.org
Andrew Jackson

Does this financial system work? How just is this financial system?

Q1: Does this financial system work?

A1: it works for the private banks, at least for a while, but it does not work for the rest of the world.

Q2: How just is this financial system?

A2: no not at all, just read this:

“During the COVID pandemic the interestrate on TLTRO III was lowered to -1% , which means that the ECB pays banks 1% of the value of their loan every year. This generous support has continued until the coronavirus hit and then strongly increased (see Figure 1).”

https://www.global-rates.com/en/interest-rates/central-banks/central-banks.aspx

https://www.global-rates.com/en/interest-rates/central-banks/central-banks.aspx

src: http://www.positivemoney.eu/wp-content/uploads/2020/09/Green-TLTROs.pdf

Which means: if you are a bank, you even get paid by the central bank, for taking a loan.

“PLEASE! TAKE AS MUCH MONEY AS YOU WANT! WE WILL EVEN PAY YOU FOR IT!”

If someone with ideas, walks into a bank to request a loan, they will laugh at you.

The “Big” (downward) “Hit” came after 2008.

So are those low interest rates just “fresh blood” for a zombie (the current financial system) to survive a bit longer?

Has the financial system actually collapsed in 2008 and not recovered since?

Why don’t do banks their job?

The job of a bank is to: actively (!) look and engage and foster and support entrepreneurs to finance new ideas, products, jobs…

not: take the freshly printed money and put it into the stock market casino.

Then there would be no “inflation” problem.

Btw: the “independent” central banks failed at their core job: to not do, what “experts” feared the state would do with the privilege of money printing:

print as much money as you like and cause massive dysfunctional financial system and inflation

#money #alternative #systems #altcoopsys #alternatives #OsOfSociety #OperatingSystemsOfSociety #SystemPhilosophy #dinero #dollar #euro #yen #rubel #sustainability #resilience #complementary #complementarycurrency #cooperation #monetaryreform #financialreform #financialsystemreform #financialcrisis #mortagecrisis #debtcrisis #occupywallsreet #finance #moneysystem #financialsystem #economics #ecologicaleconomics #economy #capitalism #kapitalismus #system #bank #banks #ecb #fed #inflation #state #states #crisis

Originally posted at: https://altcoopsys.org/2021/09/28/does-this-financial-system-work-how-just-is-this-financial-system/

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anonymiss@despora.de
anonymiss

The #Lazarus #heist: How North #Korea almost pulled off a billion-dollar #hack

Source: https://www.bbc.com/news/stories-57520169

"The transactions… were held up at the #Fed because the address used in one of the orders included the word 'Jupiter', which is also the name of a sanctioned Iranian shipping vessel," says Carolyn Maloney.

Just the mention of the word "Jupiter" was enough to set alarm bells ringing in the Fed's automated computer systems.

#swift #bank #history #news #security #cybercrime #malware #hacker

The Lazarus heist: How North Korea almost pulled off a billion-dollar hack

In 2016 North Korean hackers planned a $1bn raid on Bangladesh's national bank and came within an inch of success. But how did they do it?

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icavot@pod.orkz.net
Icavot

Climate change and our current banking/monetary system:

Nowadays we have FIAT currencies based on debt. Banks create money out of the thin air (actually a tiny fractional reserve is required) and then they lend it at interest. Debt impels debtors to push forward with our economic system of perpetual growth.

But wait, it gets worse, much worse. When banks create the money they create the principal of the loans, but they don’t create the money needed to repay the interests. As a result many people lose their homes, their businesses, their land. It’s like the game of the musical chairs: when the music stops, some players can’t take a seat. In the best scenario they refinance their loans as much as possible when they cannot pay, and the amount of debt grows bigger and bigger. This situation creates fear among debtors and this fear impels them to push forward with the cancerous system of perpetual growth even more, at least in nominal values (inflation is part of the outcomes).

In my opinion we need debt-free currencies and cancellation of the existing debt owed by the people at the bottom.

https://vimeo.com/12984738

.

#ClimateChange #banking #banks #FED #ECB #depletion #FIAT #debt #growth