while the green big bang club was the simple eyeopener of attending asian infrastructire investmemnt bank summit in korea
this video and rough transcript explains background to the main issue can we the peoples ever get our banking system back- it also teel story of 108 yera old bridge on which 10%-20% of whole usa economy depends and its about to be completely disfunctional
without getting back separated banking system for infrastructure you can see here why english speaking youth have no future in this world -of couyrse maybe asina youth should give up on us
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Why china grows us stagnates
Took less than 10 years Repeal of glass seagall act to get to usa crash of 2008
- as bernanke admitted all big us banks were bankrupt
all big us banks want to do is Underwrite bonds for big corps and play around balance sheet
Stark comparison in infrastructure investment
USA about 300 bn $ (every school hospital road job sewer optical fibre) public private federal loca_l
In china 4 “china ;policy banks” banks provide credit 140 bn dollars for hi speed train alone (eg magrev subways big cities)
in addition these banks invested 100 bn dollars per year just since belt forum
took off- that’s outside china
this works because china has bank separation – these policy banks are not involved in 550 trillion dollars derivatives exposure of new york and London
they are able to handle no performing loans in their own domains
although the dont call it glass seagall in china - that separation is important
china is spending nearly 9% of gdp in new infrastructure each year cf us about 1.35% in usa
in Washington all the lobbies continue to defy logic of bringing glass seagall back
all financial press running editorials on why nobody needs glass seagall
whole events run by aei – 6 speakers attacking glass seagall=-
TO REBUILD US
we must have a second bank system separated from securities brokers dealing and speculation and derivatives - we need it to concentrate on household lending and commercial and industrial lending to companies participating in infrastructure partnerships
never in usa has major infrastructure project been constructed with public private partnership-they don’t work
the private investors want capital back in 10 years and they want 10% annual interest
so they want it back , which if its major infrastructure, while still not being used and they want to rob the public investors
we have threadbare invest in infrasctructure now- time running out
we need national bank of 2 trillion dollar in capital – similar to concept historically of Hamilton bank usa and
so there is a credit institution like today's policy banks in china
facing disaster – example
The Portal Bridge Hackensack River New Jersey United States
NJ TRANSIT and Amtrak have completed final design and federal environmental review to replace the century-old, swing-span Portal Bridge over the ...
portal bridge 108 years old ships go under as draw freight ridge – all traffic between florida and massachussets goes over that bridge
when they try and put back to rail they have to send workers out with sledge hammers to get rails to align
if they failed to align it once- single ;point loss of 10% of us gdp (trail freight)
and could stop ships another 10% - up to 11 million jobs lost
you think they would replace this brigde plan but no funds
so imagine how far we are from frontier investment projects
hi speed rail
nuclear desalination
western water management
we are just using old stuff
no time at all left to get eg china to help invest in these wonderful projects
a Hamiltonian investment bank it most be formed
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