Article: Collapsing Banks
MMJ 20230322
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OF COLLAPSING BRIDGES AND COLLAPSING BANKS IN AMERICA
America with USD as contrived international currency prints money as it wishes. It has also created the US Treasury Bonds which by mirage presents itself as gilt edge investment. Therefore its Federal Reserve is a Money Creator Par Excellence printing money out of thin air like the possessor of a truly magical wand.
But the money somehow cannot reach the replacement of its Bridges! As reported, so far at least 23 major bridges has collapsed since 2000! The American Society of Engineers reported 45,000 bridges and 1/5 of all roads in America are in poor condition. Why?
When you design a money system to ensure the rich remains rich permanently, you then don't have a way for money to reach infrastructure.
Like in Malaysia to help the poor during Covid BNM lowers interest rate. Hoping companies will start to borrow, start new projects, the poor will then get jobs and will therefore not starve. What's the time lag for this if the causation is true? 1 year? 2 years? The poor will die of starvation first! But that's it! They have built a whole mountain of so called knowledge on this falsity- they can't think differently.
Similarly with bridges in the US. Bridges are built by taxes - unthinkable for the Fed to just create the money to build bridges in US. The money has to trickle through the established system so that it somehow collects in a big enough pool in the govt's account whichever level that build bridges - state or county. The system designed to make the rich richer sucks so much away from the suffering poor the state have to focus much funds from their budget to welfare, leaving pittance to bridges. Hence the phenomenon of falling bridges in the US. As for collapsing banks- a country to have a solid financial infrastructure must have a strong element of public banking - owned by the state. Private banking are susceptible to acts of harakiri by private investors whose selfishness actually creates the bank runs they don't want. We must rise above the clouds to see clearly or remain below in the mist, the fog and the smog.
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Dikemaskini [Updated]: Sam Ahmad 20230626