The Rockefeller Foundation, mega-banks, and even taxpayers via the U.S. Agency for International Development (USAID) have provided millions of dollars toward pushing a new type of “socially responsible” corporate structure known as the “benefit corporation.” More than 15 states have already signed on. Critics, however, say the scheme will further undermine what remains of the market system while promoting deeply controversial United Nations Agenda 21-linked notions of “sustainable development.”
Central banking and Keynesian ideology make a toxic brew, the consequences of which are beginning to show up around the world.
After eight years of litigation, Visa and MasterCard are within shouting distance of their long-term goal: protection of a massive and increasing flow of cash from consumers without further interference, litigation, or competition.
In the wake of gold prices cratering in recent days, more than a few prominent experts have already started pinning the blame on Western central banks — especially the Federal Reserve and the European Central Bank (ECB). According to numerous analysts, the central bankers are desperate to salvage their fiat currencies and eliminate competition as monetary authorities continue to create ever-greater quantities of euros and dollars out of thin air.
Some experts, whistleblowers, traders, and former officials say the Fed dumped as much as 400 or even 500 tons of “paper gold” on the market — metals that it might not even have — as part of a naked short sale aimed at driving down the prices. Other analysts, especially among the establishment, pointed to the ECB chief’s recent suggestion that struggling European authorities in countries like Cyprus would have to sell their precious metals to keep receiving bailouts.
The battle between a stock market that moves inexorably higher and an economy that continues to languish will be won when reality is recognized: The economy is getting weaker and consequently stocks are overpriced.