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Scooped by L. Charles Burch onto MN News Hound |
Scoop.it!
Virtually all the reserves that had been created as a result of the Fed's QE2, some $600 billion (which two years ago seemed like a lot of money) which was supposed to force banks to create loans and stimulate the US (not European) economy, ended up becoming cash at what the Fed classifies as "foreign-related institutions in the US" (or "foreign banks" as used in this article) on its weekly update of commercial banks operating in the US, or said simply, European banks.
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Scoop.it!
By: Andrew Gavin Marshall The process of establishing an American Empire during and after World War II was not – as has been postulated (by those who even admit there is such a thing as an ‘American Empire’) – an ‘accident’ of history, something America seemingly stumbled into as a result of its unhindered economic growth and military-political position as arbiter of world peace and prosperity. A vast literature has developed in the academic realm and policy circles – particularly within Political Science and the think tank community, respectively – which postulates a notion of ‘American empire’ or ‘American hegemony’ as accidental, incidental, benevolent, reluctant, and desirable. Delete the scoop?
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