Coming Collapse: Nomi Prins Author of “All the Presidents Bankers“ on Upcoming Collapse - Video

By Greg Hunter’s USAWatchdog.com

Best-selling author Nomi Prins warns, “Never before have the Government and the Fed collaborated so extensively by propping up the banking system to the detriment of the population.”  Prins lays out a long history of the relationships between U.S. Presidents and bankers that date back to Teddy Roosevelt and JP Morgan.   On her new book titled “All the Presidents’ Bankers,” Prins contends, “That connection with Teddy Roosevelt was a very powerful established entity between two people that has allowed all this stuff that has happened in the last hundred years to really happen.  The friendships, the social ties, the idea that the bankers could sort themselves out with Treasury Department help if it needed to.  Of course, it’s epic now.  All of that was solidified then.  Banks being hands-off with respect to the oval office was all solidified then.  We’ve only been consolidating that message throughout the century since.”   

Fast forward to JFK and the bankers of the day, and Prins points out the banks in the early 1960’s didn’t want a gold standard to restrict them.  It is dollar debasement history as Prins explains, “If bankers have a peg, if they have to put gold or any type of asset behind it or have any restriction, they don’t like it.  So at the time, they weren’t working on trying to demolish the regulations that happened from the 1930’s to separate bank speculation from depositors, but they saw something else, and that was getting off gold.  They really worked to push JFK off of gold.  JFK was a little less friendly with the bankers.  JFK, when he did invite bankers to the White House, he would have very short meetings.  It was like hello, goodbye and thank you.  Where LBJ, who came after JFK, was very friendly to the bankers and opened the White House to the bankers.”  

This brings us to today, more than five years past the 2008 financial meltdown.  Are the banks stronger today?  Prins says, “I mentioned the epic level of support for the banks, and if you consider supported being strong, then they are strong, but the Federal Reserve has more than $4 trillion of debt securities on its books. . . . The six big banks have about 84 % of all the FDIC deposits; they have 85% of all financial assets relative to all the other banks, 96% of the derivatives from a national perspective and 45% of the global exposure to derivatives, and this is just the six big banks.  Because there is such a concentration of wealth and the concentration of political power from the Bush Administration, the Clinton Administration, the Obama Administration, it doesn’t matter who’s in office.  These connections are very strong, and they have created a much more concentrated, consolidated and unstable banking system than we have ever had in history.” 

On another financial collapse, Prins, who is a former top Goldman Sachs banker, predicts, “We absolutely can.  There is much more reason that we will than that we won’t.  The stability of the system is really fake.  A lot of speculation has occurred with cheap money, and then it is bailout, and then nothing changes, and then something worse happens.  That is the current pattern and the pattern of the last three decades.”  Prins goes on to say, “I think we are headed to a major event either this year or next year, certainly in the next couple of years.  It is astonishing to me that we haven’t already had an acute crisis instead of this developing crisis because of the sheer immensity of the support these banks have received. . . . This is not normal.  This is not remotely near anything we have had in the history of this country.” 

In closing, Prins exclaims, “It is very easy to see how the system could unravel because it isn’t stable.  We are definitely in big trouble.  There is no way we are not headed for a crisis. . . . It should have happened already, but the level of support is epic and reckless from the political and financial elite.” 

Join Greg Hunter as he goes One-on-One with Nomi Prins, best-selling author of the new book, “All the Presidents’ Bankers.”  

(There is much more in the video interview.) 

After the interview: 

Prins told me she’s already thinking about the subject of her next book.  She thinks it might be about the future of capitalism based on trends of today.  Meanwhile, if you want to buy a copy of Nomi’s new book, “All the Presidents’ Bankers,” click here.   

http://usawatchdog.com/nomi-prins-author-of-all-the-presidents-bankers-on-upcoming-collapse/