Wall Street veteran Nomi Prins’ new book is being released today with a title that should give every member of the Senate Banking and House Financial Services Committees pause: Permanent Distortion: How the Financial Markets Abandoned the Real Economy Forever. The book does what neither of these Committees has done for the American people…
Survival of the Richest…
Like a gilded coating that makes the dullest things glitter, today’s thin veneer of political populism covers a grotesque underbelly of growing inequality that’s hiding in plain sight. And this phenomenon of ever more concentrated wealth and power has both Newtonian and Darwinian components to it. In terms of Newton’s first law of motion: those in power […]
Three Concerns Hanging Over the Davos Elite by Nomi Prins…
This week, the global elite descended private jets to their version of winter ski-camp – the lifestyles of the rich and powerful version. The World Economic Forum’s (WEF) five-day annual networking extravaganza kicked off in the upscale ski resort town of Davos, Switzerland. Every year, the powers-that-be join the WEF, select a theme, uniting some […]
Nomi Prins on the Banks That Run the World (Audio and Transcript)…
In this week’s episode of “Scheer Intelligence,” host and Truthdig Editor in Chief Robert Scheer talks with Nomi Prins about her latest and, in Scheer’s words, “most ambitious” book, “Collusion: How Central Bankers Rigged the World.” The two discuss the 2008 financial crisis and the disconnect between governments and the governed, as well as Prins’ […]
The Central Banking Heist Has Put the World at Risk…
“The 2008 financial crisis was the consequence of a loosely regulated banking system in which power was concentrated in the hands of too limited a cast of speculators,” Nomi Prins tell me. “And after the crisis, the way the US government and the Federal Reserve dealt with this corrupt and criminal banking system was to […]
Four Flashpoints of Volatility by Nom Prins…
1 – Trade Wars Flashpoints, From China to Canada and Mexico: Wall Street has knee-jerk reactions to any trade war related headlines. There are legitimate reasons to be concerned about trade wars. The world is increasingly more connected than ever. Many major American companies that are household names such as Starbucks (SBUX), Boeing (BA) and […]
Nomi Prins’ New Book: Central Banks Have Become the Markets…
Nomi Prins’ latest book, Collusion: How Central Bankers Rigged the World, ensures her place as one of this century’s most informed Wall Street historians. It’s the perfect segue from Prins’ earlier “It Takes a Pillage,” and her 2014 book All the Presidents’ Bankers. If you are serious about understanding the corrupting influences that have left […]
Nomi Prins: Steven Mnuchin, Foreclosure King of America…
Yves here. I hate criticizing an important post by Nomi Prins, which sets forth Treasury Secretary Steve Mnuchin’s dodgy history and his current hypocrisies in detail. But even though Prins has been a regular, articulate critic of high finance, she has not gotten as far from Goldman as she thinks she has. Like virtually all […]
The Empire Expands. Not the American One, But Trump’s by Nomi Prins…
President Trump, his children and their spouses, aren’t just using the Oval Office to augment their political legacy or secure future riches. Okay, they certainly are doing that, but that’s not the most useful way to think about what’s happening at the moment. Everything will make more sense if you reimagine the White House as […]
The Goldman Sachs Effect: How a Bank Conquered Washington by Nomi Prins…
Irony isn’t a concept with which President Donald J. Trump is familiar. In his Inaugural Address, having nominated the wealthiest cabinet in American history, he proclaimed, “For too long, a small group in our nation’s capital has reaped the rewards of government while the people have borne the cost. Washington flourished — but the people […]