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The Myth of Democracy and the Rule of the Banks

The Myth of Democracy and the Rule of the Banks

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By Richard Becker
Author of Palestine, Israel and the U.S. Empire

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This is a short, popularly written indictment of the banks and the entire capitalist system.

Author Richard Becker reveals that democracy in the United States is a myth, that it is the richest shareholders of the global banking conglomerates and other giant corporations that rule over the 99%. These banks were called "too big to fail" in 2008, but today have amassed even greater wealth through bailouts and mergers. Their predatory practices have resulted in millions unemployed and millions in foreclosure, while they amass record profits and pay out huge bonuses.

The case is made for seizing the banks. It is not the money of individual depositors, but rather accumulated super profits that have enabled them to become a critical lever of the modern economy and its political superstructure.

In their place could be a People's Bank, publicly owned with a democratically elected leadership. This new entity could then wield its power not for the rule of a tiny clique of bankers and other capitalists, but for the rule of the majority.

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    July 2012. 30 pages, saddlestitched.
    ISBN: 978-0-9841220-5-9
    Library of Congress: 2012912890

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