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Why Do Banks Want Our Deposits? Hint: It’s Not to Make Loans
by Ellen Brown
Many authorities have said it: banks do not lend their deposits. They create the money they lend on their books.
Robert B. Anderson, Treasury Secretary under Eisenhower, said it in 1959:
When a bank makes a loan, it simply adds to the borrower’s deposit account in the bank by the amount of the loan. The money is not taken from anyone else’s deposits; it was not previously paid in to the bank by anyone. It’s new money, created by the bank for the use of the borrower.
The Bank of England said it in the spring of 2014, writing in its quarterly bulletin:
The reality of how money is created today differs from the description found in some economics textbooks: Rather than banks receiving deposits when households save and then lending them out, bank lending creates deposits.
. . . Whenever a bank makes a loan, it simultaneously creates a matching deposit in the borrower’s bank account, thereby creating new money.
Putin Addresses World Order Rules
by Stephen Lendman
On October 24, he spoke at the Valdai International Discussion Club's (VIDC) 11th session. Dozens of experts, historians and political analysts from 25 countries attended.
Factors eroding current institutions and norms of international law were discussed. Ones affecting global political and economic conditions.
Putin spoke directly and frankly. Unambiguously. Like he always does. Saying what needs to be heard. Polar opposite his Western counterparts. Try imagining US politicians matching his straight talk comments. Important ones without equivocation. Telling it like it is. Doing so because it matters.
Obama shames the office he holds. He's polar opposite Putin. Serial lying characterizes his rhetoric. It substitutes for truth and full disclosure. So does demagogic doublespeak duplicity.
Farcical Ukrainian Parliamentary Elections
by Stephen Lendman
So-called Ukrainian democracy is pure fantasy. Tyranny masquerading as rule by the people.
Sunday's snap unicameral Verkhovna Rada (parliamentary) elections reflected post-February coup business as usual.
Ukraine is a US-installed fascist dictatorship. Its so-called government has no legitimacy whatever.
A previous article discussed whole families contesting for seats. Future deputies were known in advance. They're relatives of currently serving politicians.
Including oligarch president Petro Poroshenko's son, Oleksiy. Running for the same Vinnitsa region's seat his father held previously. Assured of winning before voting began.
MSM Misinformation on Ukraine's Parliamentary Elections
by Stephen Lendman
Today's MSM is a lying machine. Inconvenient truths are buried. Misinformation rubbish substitutes. Upside down reality reflects things.
Illegitimate Kiev fascist putschists are called democrats. Southeastern Ukrainian freedom fighters are called terrorists.
Daily events should scare everyone. Truth-tellers are vilified. So are peacemakers.
Warmakers win peace prizes. Media scoundrels support what demands condemnation. They deplore government of, by and for everyone equitably.
They support the best democracy money can buy. They glorify war in the name of peace. Nations are destroyed to free them. Monied interests alone benefit. Popular interests don't matter. Nor doing the right thing.
Bobby Shriver - Chamber Made
By Peter Dreier E.P. Clapp Distinguished Professor of Politics, Occidental College
Because Richard Nixon earned the reputation as "Tricky Dick" and was later associated with the Watergate scandal, many Americans mistakenly believe that Republicans have a monopoly on dirty tricks. They don't.
Consider the latest flyer put out by Bobby Shriver, who is running for the LA County Board of Supervisors against fellow Democrat Sheila Kuehl. The flyer has a huge photo of Zev Yaroslavsky, the popular incumbent supervisor in District 3 who is retiring due to term limits. Above and below that photo, Shriver's campaign concocted this statement: "Who Shares His Values?"
Turn over the flyer and it reads: "Bobby Shriver Does."
Does that sound like Yaroslavsky has endorsed Shriver? That's obviously what Shriver wants you to think. But it isn't true. So why is Shriver resorting to these deceptive campaign tactics?
He's desperate. Despite outspending Kuehl with money from big corporations, big developers and his own deep pockets of inherited wealth, Shriver is realizing he can't outsmart or out-campaign his opponent. So he's slinging mud and getting his supporters to join him in the mud-fest. Exhibit B is a recent Huffington Post column by Shriver backer Bob Shrum, a veteran Washington, D.C. campaign consultant.
Ukriane's Civil War Is Restarting: a Good Site for Following It
Eric Zuesse
Ukrainian Government is said to have air-dropped leaflets: “Leave or die.”
Introductory note by Eric Zuesse: Below is from a recent day's report by the Belarusian (or "Byelorussian") management-consulting firm Geopolitics, a site which often posts the most-penetrating daily reports and analyses of the Ukrainian civil war, with a dozen or more articles written by various Belarusian academics. One of these news reports, shown below, is provocatively headlined “War will begin on Monday”; another is titled, "Kiev is preparing to capture Donetsk, and it will be the biggest defeat for Russia since 1991”; yet a third is “Donbass pending decisive assault”. So, some of these articles focus on the historical importance of the events.
Amnesty International reports on human rights abuses in Ferguson
Mary Shaw
Amnesty International (AI) recently released a report on human rights abuses in Ferguson, Missouri, in the wake of the August 9th shooting of black teenager Michael Brown by a white police officer.
The report, titled On the Streets of America: Human Rights Abuses in Ferguson, outlines the findings by AI observers who were in Ferguson from August 14-22 to monitor the post-shooting protests and police response, along with recommendations to local, state and federal authorities regarding both the use of lethal force and the policing of protests.
The Pentagon and Big Oil: Militarism and Capital Accumulation
James Petras
Introduction
There is no question that, in the immediate aftermath and for several years following US military conquests, wars, occupations and sanctions, US multi-national corporations lost out on profitable sites for investments. The biggest losses were in the exploitation of natural resources – in particular, gas and oil – in the Middle East, the Persian Gulf and South Asia.
As a result some observers speculated that there were deep fissures and contradictory interests within the US ruling class. They argued that, on the one hand, political elites linked to pro-Israel lobbies and the military industrial power configuration, promoted a highly militarized foreign policy agenda and, on the other hand, some of the biggest and wealthiest multi-national corporations sought diplomatic solutions.
2014 MIDTERM ELECTIONS WILL CHANGE NOTHING
Allen L Roland, Ph.D
The 2014 midterm election will change nothing in the United States ~ 2014 is set to be the most expensive non-presidential election in US history and unfortunately money buys elections. Not only do politicians do the bidding of the wealthy, they themselves are increasingly numbered among the rich and super-rich and they follow their corporate masters. Social inequality rules in America and the 2014 midterm election has been reduced to Kabuki theater as millionaire Republicans and Democrats rearrange the chairs on the deck of the sinking Republic while the main stream press tries to convince us that it all really matter.
Ukraine Restarts War on Eastern Regions Sources Say
Michael Collins
The Kiev government of U.S. puppet Ukrainian President Petro Poroshenko is about to restart the failed attempt to subdue the southeastern region of the country known as Novorussia according to highly credible sources. (Image)
Colonel Igor Strelkov, a native Russian, helped create and led the Novorussian forces during the critical phases of resistance to the Kiev regime. At the height of his success, he left active command and was replaced by local leaders. As Strelkov sees it:
[An] "Endless flow of [Ukraine government] military columns moves towards Donetsk and Makeevka areas and towards Gorlovka area. Troops are being moved at ever increasing pace.
"At the same time they engage in massive use of heavy MLRS fire, heavy artillery and tactical missiles “Tochka-U” (SS-21 Scarab B) [a tactical ballistic missile - see Ukraine Firing Ballistic Missiles - Obama-Kerry Say Nothing].
"The number of victims among the population during this so-called truce is higher than it was in the period of active hostilities one month ago. Igor Strelkov, Important Statement, 20.10.2014 (click "Show More" for full text)
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