A2A with Nomi Prins

27

Nomi Prins is the author of the must read book, "All The Presidents' Bankers". It was an honor to have her stop by for this webinar and this recording is well worth your time and attention.

Over the course of this 35-minute presentation, Nomi discusses:

  • How the abolition of The Glass-Steagall Act helped to lead to the Financial Crisis of 2008
  • The still-growing market share of The Big Six, TBTF banks
  • The continuing interconnectivity of bank balance sheets and derivative positions
  • How much longer this current system can be maintained
  • The likelihood of "bail-ins" as a remedy for the next financial crisis

Again, I can't stress enough the value of Nomi's book. Similar to "The Creature From Jekyll Island", it's almost a history book in that it details the process of how we've found ourselves in this position...where The Federal Reserve is seemingly all-powerful and the major banks are all "Too Big To Fail". Please take the time to read it. Only by knowing how we got here can we ever hope to find a way out.

TF

www.tfmetalsreport.com/freetrial

  27 Comments

  Refresh
Ruislip Ranger
May 8, 2015 - 7:24am

Didn't find that A2A that

Didn't find that A2A that inspiring TBH, I found Nomi quite middle of the road to listen to.

Sir Peter Latterman Fortenton
May 8, 2015 - 6:22am

off topic but of great interest

I apologise to Turd and all Turdites as this is off topic but I listened to an excellent interview posted here some days ago with Merrill Jenkins talking to a FED staff from the 80's. His classic (out of print) book "Money the greatest hoax on earth" is available in pdf here, (a detailed expose of fiat & gold). I felt I had to share this with Turdville.

https://bornagainclassics.com/Books/Money-The-Greatest-Hoax-on-Earth-red.pdf

MrSteve72
May 8, 2015 - 12:43am

Pirate Captain Kidd’s treasure found off Madagascar

A TEAM of American explorers claimed to have discovered silver treasure from the infamous 17th-century Scottish pirate William Kidd in a shipwreck off the coast of Madagascar.

https://www.news.com.au/travel/world-travel/pirate-captain-kidds-treasure-found-off-madagascar/story-e6frfqai-1227346618261

Barflytyberious
May 7, 2015 - 9:53pm

Actually, that never came up...

I did notice that when she was asked the question about the $1200 and given a choice of a) or b), she chose c) - a 2/3rds split.

Sharp cookie, there.

Safety Dan
May 7, 2015 - 9:47pm

Tomgram: Nomi Prins, Hillary,

Tomgram: Nomi Prins, Hillary, Bill, and the Big Six Banks

Posted by Nomi Prins at 8:01am, May 7, 2015.

The Clintons and Their Banker Friends
The Wall Street Connection (1992 to 2016)
By Nomi Prins

[This piece has been adapted and updated by Nomi Prins from chapters 18 and 19 of her book All the Presidents' Bankers: The Hidden Alliances that Drive American Power, just out in paperback (Nation Books).]

The past, especially the political past, doesn’t just provide clues to the present. In the realm of the presidency and Wall Street, it provides an ongoing pathway for political-financial relationships and policies that remain a threat to the American economy going forward.

When Hillary Clinton video-announced her bid for

https://www.tomdispatch.com/blog/175993/

Book Excerpt

All the Presidents’ Bankers: The Hidden Alliances That Drive American Power

Posted on May 6, 2014

https://www.truthdig.com/arts_culture/item/all_the_presidents_bankers_th...

tyberious
May 7, 2015 - 9:44pm

Sorry if anyone has asked

But besides small silver holdings, where else does she keep, save, invest her money?

Key Economic Events Week of 5/25

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lund175
May 7, 2015 - 9:03pm

Turd

Great job!

Way to hard on yourself.

Did anyone find it odd that Nomi did not seem to have a deep interest in silver or gold?

With her background I would think she would know fiat is going down.

Safety Dan
May 7, 2015 - 8:48pm

Craig,  The A2A was really

Craig,

The A2A was really enjoyable. While I have not read Nomi's book, sounds like she enjoys living life in LA and speaking her mind. I enjoyed her comments about bank deposits, and the government stats. I know my family thinks I'm some kind of conspiracy nut with tin foil hat. Wish we could enlighten the yet unlearned. She has gone a long way to help that cause. Your interview has encouraged me to search out her book and read it.

Honestly Craig, I know I'm repeating what's been repeated, but true.. You are one great interviewer...

Live in the limelights! You deserve it, King of Turdville.. Hail King Turd!!

CaptK
May 7, 2015 - 4:01pm

Bill Bonner on Deflation, Inlation and the War on Cash

"How many old people and zombies do you need before an economy comes to a halt? Nobody knows. But the drag from debt is observable and calculable. Over the last three decades, approximately $33 trillion in excess debt has been contracted – above and beyond the traditional ratio to income – in America alone. And growth rates have fallen in half. That’s because dollars that would otherwise support current spending are instead used to pay for past spending. Our old debts have to be retired with current income. The money doesn’t disappear, of course. Some goes to creditors who spend it. Some comes back as capital investment, which is a form of spending. But as credit shrinks, generally, so does the economy. And that brings us to the impossible situation we’re in now. In order to get back to a healthy ratio – say approximately $1.50 worth of debt for every $1 in income – you’d need to erase all that excess that has already been contracted. In other words, you’d have to take $1 trillion out of the consumer economy every year for the next 33 years. It would be the longest and deepest depression in US history."

https://www.bonnerandpartners.com/take-warning-the-next-94-days-could-be-bad-for-your-wallet/

"Today, a long depression in the US would be unbearable. The public couldn’t stand it. Six out of ten households live paycheck to paycheck. Can you imagine what would happen if those paychecks ceased? Supposedly, the US economy is still growing… with the stock market near record highs. Yet, one out of every five households in America has not a single wage-earner. Among inner-city black men, ages 20-24, only 4 out of 10 have jobs. Half the households in the US count on government money to make ends meet. And 50 million get food stamps. What would happen to the cities – and the suburbs – in a real depression? What would Janet Yellen do? Would she rehash the words of Andrew Mellon in 1929 to “liquidate labor, liquidate stocks, liquidate farmers, liquidate real estate… it will purge the rottenness out of the system. High costs of living and high living will come down. People will work harder, live a more moral life. Values will be adjusted, and enterprising people will pick up from less competent people?” Mellon was just suggesting that creative destruction be allowed to do its job. He was the last Treasury secretary to make such a forthright and honest comment. Thenceforth, Treasury secretaries and central bank governors could no longer accept the tough love of a free enterprise economy. They had to offer bogus rehab and claptrap therapy. They had to stop creative destruction. They had to “tell it like it wasn’t” because that’s the way people wanted it. They had to pretend to make a better world by improving the market economy. Today, a central banker or Treasury secretary who let deflation purge the rottenness from the system would be dismissed before sundown. Too much wealth, too many reputations, too much power and status depend on the continuation of the credit expansion. Instead of a Mellon, we will have a Greenspan, a Bernanke or a Yellen. And we will soon find out whether Mr. Bernanke spoke the truth in 2002 when he said: We conclude that, under a paper-money system, a determined government can always generate higher spending and hence positive inflation. Threatened with deflation, the authorities will want to turn the tide in the worst possible way. What’s the worst way to stop deflation? With hyperinflation."

https://www.bonnerandpartners.com/deflation-works/

canary
May 7, 2015 - 2:43pm

Comedy chanel...

"Market forces" at work today. It's better than "Saturday Night Life". More comedy tomorrow.

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