Sabri Oncu wrote: > Sooner or later, private banks in the US will have to be nationalized, > because they are harming the US hegemony. Chinese banks are public and > China is doing much better. The governing elite of the US may have > noticed that, who knows?
Assuming that you're right about the "harm," Sabri, I have my doubts about the "sooner or later." What's good for US (financial?) hegemony may differ from what's good for individual members of the hegemonic elite (i.e., private banks). Institutional arrangements such as the system of privately-owned banks do not go away overnight or even slowly, because they are fervently backed by the massed money power of the private bankers. It could be that instead of the system of private ownership going away, the US financial hegemony will go away -- or the system and the hegemony might collapse at the same time. -- Jim Devine / "The conventional view serves to protect us from the painful job of thinking." - John Kenneth Galbraith _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
