12th December 2009
At the end of last month I delivered the prestigious EBOR lecture at York. My address was entitled:
“Credit, usury and political power: chasing the moneylenders from the temple that is our democracy”
Click on the link below to read a PDF version of the full lecture:
Tags: EBOR
A response to the "Triple Crunch" of financial crisis, climate change and oil depletion. Read the report published by the Green New Deal Group and nef (new economics foundation).
Welcome to my blog about the financial crisis. I'm Ann Pettifor, author and analyst of the global financial system, and co-author of the Green New Deal. I predicted an Anglo-American debt-deflationary crisis back in 2003, and am known for my work on sovereign debt and international finance, including Jubilee 2000. Currently a fellow of the new economics foundation and director of Advocacy International.
One Response to “York Minster EBOR lecture”
Very clearly and eloquently put.
I would have added that the ’shadow banking’ sector of asset backed securities and
speculative derivatives, SIVs and ‘conduits’ (See Paul Mason, Meltdown 2009)is what drove the latter phase of the debt explosion; by putting risk
off balance sheet, more credit could be issued. And all this world of hedge funds, offshore centres and ‘OTC’ (unregulated and unmonitored)
dealings grew up unnoticed and even less understood by politicians, central banks, regulators, academics and commentators.
We are bailing
out the shadow banking sector and all its toxic junk when it should be dismantled and ultimately removed altogether.
Ann repeats truths
that are neither new nor particularly radical but have been forgotten. It was Aristotle (The Politics) who said that making money out of money
(usury) was unnatural, 2,500 years ago.
Comment By Ken MacIntyre on December 16th, 2009 at 2:58 pm
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