Alternative Visions - 04/24/13

The Green Shadow Cabinet and A New Kind of Federal Reserve Central Bank Dr. Jack Rasmus discusses the just announced Green Shadow Cabinet, and his role as the new ‘shadow’ Federal Reserve Chairman as a member of the cabinet. Jack explains his initial statement as shadow chair, on the ‘Failures of Fiscal-Monetary Policy, 2008-2013’: How Fed monetary policies of QE and zero interest rates for bankers have only succeeded in expanding the incomes of bankers and speculators while reducing incomes of retirees and tens of millions of US households. Fed policies have helped engineer recovery for the few and their corporations after tens of trillions of dollars of money injection, but are holding back recovery, lowering incomes for the rest, destroying pensions, and setting off global currency wars that will further slow the global, and US, economy.  As ‘shadow’ Fed chair, Dr. Rasmus explains his alternative monetary policies of public banking, how to democratize the Fed to serve the public not the banks and speculators, and how to expunge excess household consumer debt for students, homeowners and small business, as a precondition for real recovery for all.