{"id":35153,"date":"2018-06-16T17:39:03","date_gmt":"2018-06-16T22:39:03","guid":{"rendered":"http:\/\/olduvai.ca\/?p=35153"},"modified":"2018-06-16T17:39:03","modified_gmt":"2018-06-16T22:39:03","slug":"nomi-prins-the-central-banking-heist-has-put-the-world-at-risk","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=35153","title":{"rendered":"Nomi Prins: The central banking heist has put the world at risk"},"content":{"rendered":"<div class=\"article-container\">\n<div class=\"article-meta article-meta--author d-flex flex-row align-items-center justify-content-start\">\n<h3 class=\"article__title\"><a href=\"https:\/\/unherd.com\/2018\/06\/nomi-prins-central-banking-heist-put-world-risk\/\">Nomi Prins: The central banking heist has put the world at risk<\/a><\/h3>\n<\/div>\n<p>\u201cThe 2008 financial crisis was the consequence of a loosely regulated banking system in which power was concentrated in the hands of too limited a cast of speculators,\u201d Nomi Prins tell me. \u201cAnd after the crisis, the way the US government and the Federal Reserve dealt with this corrupt and criminal banking system was to give them a subsidy.\u201d<\/p>\n<p>Such strong, withering analysis is, perhaps, unexpected from someone who has held senior roles at Wall Street finance houses such as Bear Stearns and Goldman Sachs. But Prins is no ordinary former banker.<\/p>\n<div class=\"body-main-quote\" data-type=\"quote\">Prins has chronicled the closed and often confusing world of high finance through the 2008 crisis and beyond<\/div>\n<p>The US author and journalist left the financial services industry in 2001. She did so, in her own words, \u201cpartly because life was too short\u201d, and \u201cpartly out of disgust at how citizens everywhere had become collateral damage, and later hostages, to the banking system\u201d.<\/p>\n<p>Since then, Prins has chronicled the closed and often confusing world of high finance through the 2008 crisis and beyond. Her writing combines deep insider knowledge with on-the-ground reporting with sharp, searing prose. Alongside countless articles for\u00a0<em>New York Times<\/em>, <em>Forbes<\/em> and <em>Fortune<\/em>, she has produced six books \u2013 including\u00a0<a href=\"https:\/\/www.amazon.co.uk\/Collusion-Central-Bankers-Rigged-World\/dp\/1568585624\" target=\"_blank\" rel=\"noopener\"><em>Collusion: how central bankers rigged the world<\/em><\/a>, which has just been published.<\/p>\n<p>Her main target in the new work is \u201cquantitative easing\u201d \u2013 described by Prins as \u201ca conjuring trick\u201d in which \u201ca central bank manufactures electronic money, then injects it into private banks and financial markets\u201d. Over the last decade, she tells me when we meet in London, \u201cunder the guise of QE, central bankers have massively overstepped their traditional mandates, directing the flow of epic sums of fabricated money, without any checks or balances, towards the private banking sector\u201d.<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Nomi Prins: The central banking heist has put the world at risk \u201cThe 2008 financial crisis was the consequence of a loosely regulated banking system in which power was concentrated in the hands of too limited a cast of speculators,\u201d Nomi Prins tell me. \u201cAnd after the crisis, the way the US government and the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[61,2229,124,303,20538,575,661,662,20539,3650,860],"class_list":["post-35153","post","type-post","status-publish","format-standard","hentry","category-economics","tag-banking","tag-banking-system","tag-central-banks","tag-fed","tag-liam-halligan","tag-nomi-prins","tag-qe","tag-quantitative-easing","tag-unherd","tag-us-federal-reserve","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35153","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35153"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35153\/revisions"}],"predecessor-version":[{"id":35154,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35153\/revisions\/35154"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}