The fact that central banks provide welfare for the wealthy is now entering the mainstream. The fact that all central bank policies since 2008 have dramatically increased wealth and income inequality is now grudgingly being accepted as reality by mainstream

One little-remarked consequence of the central banks’ policies of near-zero interest rates and quantitative easing is the unrivaled dominance of mobile global capital, i.e. the Corporatocracy. The source of corporate political power is the ability to borrow essentially unlimited sums

Many well-meaning people want to limit the wealth and power of the super-wealthy, i.e. the Financial Aristocracy/Oligarchy. (For more on the modern class structure, please see America’s Nine Classes: The New Class Hierarchy.) Reformers have suggested everything from a global

‘Spain’s Catalan region will be automatically ejected from the eurozone and its banking system brought to collapse, if voters choose to back independence for the region this weekend, the country’s central bank governor has warned. Luis Maria Linde, head of the Bank of Spain, said the region would not be able keep the single currency […]

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Central bankers are watching Marx’s dictum all that is solid melts into air play out in global stock markets with a terror informed by the scalding memories of 2008’s global financial meltdown. Once the trap-door opens, there is no bottom

‘And now for Greece’s moment of truth. Or not, as the case may be. The effectively bankrupt country, its economy paralysed and its banks set to run out of cash on Monday, goes to the vote in a referendum that may determine its continuing membership of the euro, as well as the fate of Prime […]

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