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Komeito lawmaker: G7 must share awareness of banking issues

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By Tetsushi Kajimoto and Takaya Yamaguchi

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In Japan, expectations of a strong post-COVID recovery are quickly fading amid global monetary tightening and the worries about banks worldwide.

COVID has already played out and billionaire wealth has ballooned while the majority slid further into precarity.

https://www.voanews.com/a/pandemic-creates-new-billionaires-as-global-inequality-rises-/6587279.html

Time to move onto the the next disaster capitalism crisis and it looks like a 2008 style banking crisis is coming up on the roulette wheel.

3 ( +4 / -1 )

It's hard to keep an eye on investment banks since their operations are so deceptive and corrupt. In the global financial crisis, the banks paid fees (de facto bribes) to credit rating agencies to give junk mortgage-debt securities triple AAA ratings and designed the securities to make it impossible for customers to know what was in them.

And yes, it was all "legal" since the people who made the rules, the top regulars, were former investment bankers mainly from Goldman Sachs. The solution? Nationalize them all.

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Regulators didn't have to shutter Signature Bank, says Dodd-Frank Act coauthor Barney Frank, who helped oversee the lender: 'We could've continued'

One thing that neo-liberals, neo-conservatives and alt-right populist nationalists can agree upon is the increasing financialization of the economy , letting capital holders make financial bets where gains are privatized and hazards and losses are socialized.

What they never support are nationalizations of assets the public pays for and arrests of the financiers who cause economic chaos for the rest of the populace under late stage capitalist conditions.

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$250,000 is peanuts. Bank failures are designed to lure in much larger deposits from the wealthy of various authoritarian countries, go down and let them take the loss. It is a heist for the ruling elites.

The same with sanctions. They are opportunities thought up to seize the assets of the oligarchs.

Another is to intentionally disrupt supply lines to make it difficult for rival countries, most likely out if vindictiveness or tit for tat. To disrupt the supply line, you implement a Covid lockdown and to slow the flow.

Another one would be to create a sense of fear that crime is rising and the neighborhood is dangerous; you need to install an expensive security system. The bogeyman Saddam Hussein, Gaddafi, and Xi Jinping ensures Japan and Taiwan but missiles.

Yet another would be to look for opportunities to collapse a government and pick up valuables at a great discount. This is similar to an estate sale when someone passes and you can pick up some worth say, $1000 for $25 or $50 dollars.

Examples of this would be an Oil Lease valued at $ 182 Million in New Mexico purchased for $15.4 Million, paid to the Yeltsin Government and the Russian People while the Oligarchs got $25 Million to buy yachts and clubs and houses on the French Riviera.

Russia collapsing will be a huge estate sale. Mean and while let the insignificant little potatoes and carrots argue all day whose at fault and which political party is responsible

There are powerful elites in the world who look out for each other. I know Japanese politicians wish to be have relations with the CCP.

Power attracts power. Follow the money. Sorry to burst your little “democracy” and “freedom” bubble, but that’s just something for the naive to chit chat about but not what’s really happening. Even if they catch on, it’s unlikely they will be able to stop them. Not in a democracy; because the system is manipulated

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When governments are printing currency like mad while holding down interest rates, what can we expect to happen? When inflation in America and Europe exceeding 8% and banks paying 1% interest, who would put their money in a bank? And with banks forced to put their deposits in instruments like government bonds at low interest, only to have interest rates pushed up by central banks to tame the inflation these very same banks caused, we end up with the current situation problem.

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Most banks cannot give you 10 thousand dollars in cash from your account,when electronics banking is down, always best to have at least 2000 dollars in cash in your stash

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it deals in crypto

Then good riddance

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Of course they cannot pay back everything the people bring to them. Their money storage service costs a little bit, for nice skyscrapers, managers and well-paid staff. So if you don’t like all that, then don’t use it and put your few bills under your pillow. But no, you are as greedy as the super riches and want to try to get more and more, by coining, investing, putting into saving accounts with highest interest rates. Of course that cannot work by logic and on average, only for a minority with wins and for the majority with losses, so that those costs are covered after all. No need for your bashing of the banking sector, because most people are part of the game themselves and follow that greedy pattern with much effort.

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With all the so-called regulations and stress tests out there then why is there a banking crisis?

Could it be too many fingers in pies and the lure of the trough?

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