Concentration In Banking -- A Paradigm Of Manipulative Control And Power
The paper starts from the hypothesis that concentration of banking industry and ownership is a ground for proliferation of financial control and power, enabling financial clique to abuse the banking and credit system. Banking super-entities ensure manipulative pattern of functioning based on the monopolistic standard of demand of money, mechanism of interest rates and derivative market. Current financial crisis has deepend the concentrated system of relations and redestribution. The practice based on fraud and deception remained a cornerstone of strengthening the Anglo-Saxon banking and industrial empire to the current shaken model of financialization. Official monetary authorities, under the control of "sophisticated" individuals and semi-secret organizations, provide safe traditional and unconventional monetary and liquidity mechanism to corporate bankers.
References listed on IDEAS
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- Stanley Fischer, 1999. "On the Need for an International Lender of Last Resort," Journal of Economic Perspectives, American Economic Association, vol. 13(4), pages 85-104, Fall.
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