Cameron Scally

Remarkable number of bots trashing Melenchon's fundamental truth. 'Markets' aren't simply people trading with each other. We've long known about 'market power', the big 'whales' disproportionately influencing prices. In financial markets, the big players Melenchon identifies can manipulate the 'price of money' as transferable credit and threaten governments with higher borrowing costs, inflation, currency depreciation and capital flight. There's nothing 'natural' about this - 'market forces', 'invisible hand' blah blah. Look up how the traders do it - bond/FX sell offs, 'fake money' repos and derivatives, libor manipulation etc. But the original issuers of all this money traded in financial markets are governments, central banks and licensed commercial banks. Hedge funds and the rest can't legally issue currency. A true financial revolution wouldn't be crypto - a massive con, even more freedom for 'big whales' - but international agreements to crowd out these loan sharks with public investment through central, regional and community banks, issue non-tradable bonds (eventually none at all) and erect capital controls. Pensions? - increase state pensions to make private pensions unnecessary. It's eminently possible to end 4,400 years of debt bondage to institutionalised private loan sharks and begin to invest and spend where it's really needed, profitable or not. Money as credit must be a public utility in democratically managed mixed economies. Wonga International must die. Spread the word.