Unlimited Hangout with Whitney Webb Sanctions & the End of a Financial Era with John Titus
28 snips
Apr 19, 2022 AI Snips
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Episode notes
Ruble's Gold Backing
- Russia pegged the ruble to gold to stabilize it after sanctions.
- Gold backing's effectiveness depends on gold reserves, which are unknown for both the US and Russia.
Sovereign Power of Banks
- John Titus argues real sovereign power in the US resides with private banks.
- This is evident in their immunity from investigation after the 2008 financial crisis.
Paulson's Bailout Threat
- Henry Paulson demanded a bank bailout, threatening martial law if Congress refused.
- Titus believes this aimed to secure political cover for the bailout, preventing a full audit.