Rising from a world of deep financial sin at Goldman Sachs, where she served as a managing director during the creation of the housing Ponzi scheme that wrecked much of the world’s economy, Dr. Nomi Prins, has written seven books detailing the corruptions of the financial elite that hasonly intensified its destructive assault on the livelihood of the world’s struggling population.
In her latest book, “Permanent Distortion: How the Financial Markets Abandoned the Real Economy Forever,” Nomi writes the ultimate obituary for the competitive capitalism celebrated by classical economists since Adam Smith. This is the evil doppelgänger distortion bereft of any saving grace accountability of a free market conceived by the evil alchemists of the world’s uber powerful central banks led by our own Federal Reserve at the top of a unipolar world of their creation. It is a concentration of governmental power in alliance with the super-rich of the west determined to cut off any “invisible hand” of market forces being it from workers striking for higher wages or competition from smaller producers. The only hand at play is the one using unchallenged government power to prop up the most voracious of the rich.
From the housing crisis to the pandemic, all disasters are an opportunity for plunder of the vulnerable. As Prins writes: “The world’s 10 richest men more than doubled their fortunes from $700 billion to $1.5 trillion at a rate of $15,000 per second, or $1.3…