Opinion – The two-cow theory: Capitalism in America, China and around the world – John Gelmini

Campaign poster showing William McKinley holdi...

Campaign poster showing William McKinley holding U.S. flag and standing on gold coin “sound money”, held up by group of men, in front of ships “commerce” and factories “civilization”. (Photo credit: Wikipedia)

Perhaps the moral of the story which Dr Alf brings us is one which suggests that 2+2 equals 4 not 5 or some other figure.

Also that the economic shell game which is being played with Western style “fractional reserve banking ”, rather than sound money based on gold or something like Glass Steagall is one which will spell trouble for America and its allies, whereas the Chinese system of controlled capitalism is more soundly based.

In the long run we shall see.

John Gelmini

Warren, McCain introduce bill to bring back Glass-Steagall | TheHill

English: John McCain official photo portrait.

English: John McCain official photo portrait. (Photo credit: Wikipedia)

This is a really important story from The Hill.

via Warren, McCain introduce bill to bring back Glass-Steagall | TheHill.

The Glass-Steagall Act, introduced after the US depression in the thirties, segregated investment and retail banks. When President Clinton repealed Glass-Steagall, it opened the way to massive abuse in the financial services industry that lead to the 2008 economic disaster.

Surely, it’s about time that the UK introduced legislation to break up the big banks, like the US?

Thoughts?