More Wisdom from David Cay Johnston on Flawed Economic Theory

   Some More Wisdom from David Cay Johnston  on  Flawed Economic Theory :             Not every opportunity to profit because of above-market prices is filled by a competitor. Indeed, in my books I have shown how rules discourage this in many markets. In some markets, notably electricity, the rules tend to …

Winner Takes All: The Super-priority Status of Derivatives

Posted on April 9, 2013 by Ellen Brown Cyprus-style confiscation of depositor funds has been called the “new normal.”  Bail-in policies are appearing in multiple countries directing failing TBTF banks to convert the funds of “unsecured creditors” into capital; and those creditors, it turns out, include ordinary depositors. Even “secured” creditors, including …