Argentina, China, Credit expansion and contraction as a means of asset appropriation, Financialization, global finance capital, Greece, Hedge Funds, IMF, Jack Rasmus, Shadow Banking, telesur, The roots of austerity, Ukraine, Venezuela
[You can also read Jack Rasmus’ article here: telesur]
An Excerpt of Jack Rasmus’s recent publication on the destabilizing effects of shadow banks on China’s economy, published this past week in teleSUR media, follows below. (For the full article, go to Rasmus’s website at:
“What China, Argentina, Greece, Venezuela, and Ukraine all share in common is an ongoing struggle with global shadow bankers, who continue to destabilize their financial systems and drive their real economies, at different rates, toward recession and worse.
Since 2010 shadow banks have speculated intensely in Greek government bonds, driving up bond interest rates, forcing the government in turn to impose ever more draconian forms of austerity in order to pay their loan debt to the IMF, the EU, and shadow bankers like global Hedge Funds. Shadow banks have played a major role in forcing more severe austerity on the Greek people, and the hardship that has produced in lost jobs, falling wages, reduced…
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