If the big banks that brought you the current credit crisis can already meet the new requirements, what exactly does Basel III achieve, beyond shaking down their smaller competitors?

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6 Responses

  1. It may be that a global financial dictatorship is staring us in the face, but isn’t that a good thing, to be able to actually see the enemy that is waging war on the middle class?

    These financial robber barons are usually well-concealed, but now they are nakedly exposed. Nothing galvanizes a common cause like a common enemy.

    State owned banks would have no trouble meeting capital requirements. Basel III should be a stimulus for the public interest bank movement. It could boost it up from the margins to a national profile issue.

    In this way a new awareness can be created of the difference between the private banking model and a public banking model. At present, most people don’t realize there is any alternative to what we have. They don’t understand the critical choice Alexander Hamilton made by implementing the private model. They don’t know that banking can be done in the public interest, or that a publi banking model did exist in pre-Revolutioary America.

    As the financial barons impose the “business cycle” yet again, it provides the state bank advocates with a brilliant new weapon to win this war.

  2. The international banskters’s strategy has been succinctly and clearly spelled out by the Great American Republic Founder Thomas Jefferson.

    Quote: “I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
    Thomas Jefferson, (Attributed)
    3rd president of US (1743 – 1826)

    The financial/economic solution is quite simple in view of the quote. Just use the American yearly GDP to back up the new national currency, without interests, to restart the economy.

  3. After reading this article it only proves that we must do something about our monetary system. And as we know Ellen has been spelling it out . We must get this message out to the people that to this day do not understand.

  4. According to this article, Basel III actually will collapse some of the big banks.

    What do you think about his article Ellen?

    • Thank you for the link, Alwie. Interesting that Ellen says the big banks have enough capital sitting around, yet Mathais says it’s the little banks that are doing okay. Tells me that their convoluted obfiscation is working, and we really don’t know what they’re up to. I often wonder to what extent things are flying out of control, or are they going exactly according to plan.

      The same site has a good acticle on the Canadian big bank bailout. It’s disturbing that we heard so much more about the U.S. bailout on Canadian media than our own, even though it happened days before a federal ellection.

      “In a bitter irony, the banks lend money to the federal government to finance the bailout, and with the money raised through the sale of government bonds and T-Bills, the government finances, via the CHMC, the bank bailout. It is a circular process. The banks are the recipients of the bailout as well as the creditors of the State. The federal government is in a sense financing its own indebtedness.”

      $75 Billion CAD involved, or about the same per capita as the U.S. bailout. A 14% increase in federal debt over two years, and not a penny for the public! Never vote for a “Conservative” party that claims it’s all about ballanced budgets.

      Our present prime minister may be the worst in history. He works hard to strenthen corporate monopoly and oligopoly, makes a mockery of pollitical process, and hides a disturbing bigotry behind a thin veil of orwellian rhetoric. What he is doing to the remote north right now in favour of big business and militarism is sick. Really sick. And he does it all with a small minority government!

  5. 18 Sept 2010 … The BIS acknowledges that pressure on banks to meet heightened capital requirements is stagnating economic … If the big banks that brought you the current credit crisis can already meet the new requirements, what exactly does Basel III achieve, beyond shaking down their smaller competitors?

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