Page 187 - TrumpsEconEra_Flat

Trump’s Economic Era

Debt, she reveals how the Federal Reserve has usurped
the power to create money from the people and how we
can get it back. In The Public Bank Solution, she traces
the evolution of public and private banking models,
while explaining the global banking system.
The G20 is an informal group of 19 countries
and the European Union, with representatives of the
International Monetary Fund and the World Bank.
Representatives of these groups meet once a year as a
group and individually at other times during the year.
The goal is to promote cooperation among members to
achieve stable and sustainable growth.

On the weekend of November 16, 2014, the
group endorsed the Financial Stability Board’s
“Adequacy of Loss-Absorbing Capacity of Global
Systemically Important Banks in Resolution,” which
changed the rules of banking. “In the event of a world
depression is it better for banks to fail or is it better that
depositors take the hit?” The answer is “depositors.”
This resolution solidifies the practice of bail-ins over
the practice of bailouts or bankruptcy.

THE DERIVATIVES MARKET
One of the biggest risks to the world’s financial
health is the $1.2 quadrillion derivatives market. It’s
complex, it’s unregulated, and its notional value is
estimated to be 20 times the size of the world economy!

Derivatives are legal agreements that involve
bets between parties on the outcome of some future
event. Economists call these legal agreements
derivatives because some event derives their value.

-186-