Paul Craig Roberts: Banks Are A Looting Mechanism. Dollar To Die In 2015?

Video Rebel's Blog

This is what Paul Craig Roberts said to King World News about a recent Federal Reserve policy change and the Big Banks. He said the Too Big To Jail Banks can no longer contribute to the growth in our real economy. The Banks are part of an asset stripping mechanism. The Banks follow the IMF into destitute countries stealing islands from Greece or demanding local utilities be sold to foreign buyers.

Now the Federal Reserve is setting its sights on American cities and counties and their pension funds. The Federal Reserve has ruled that banks can no longer use municipal bands as tier 1 assets. There are $3.7 trillion dollars in these US municipal bonds out there. If the banks have to sell their bonds and are not allowed to buy new ones from the cities, then pressure will be put on new municipal bond sales. Roberts thinks that this…

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