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Geopolitics & Empire

Nomi Prins: The Next Global Financial Crisis

Geopolitics & Empire

Geopolitics & Empire

History, News, Government, Politics

4.2568 Ratings

🗓️ 21 February 2016

⏱️ 15 minutes

🧾️ Download transcript

Summary

https://www.youtube.com/watch?v=4CiF3oBl-zo

Nomi Prins discusses the next global financial crisis, what she foresees for the economy in 2016 and talks about her upcoming book “The Artisans of Money” which will surely be another best-seller.

Show Notes

The Mexican Financial System is at Risk (Nomi Prins Interview)

Websites

http://www.nomiprins.com
https://twitter.com/nomiprins

Books

http://www.amazon.com/Nomi-Prins/e/B002J3NQJI/ref=sr_ntt_srch_lnk_1?qid=1456036464&sr=8-1

About Nomi Prins

Nomi Prins is a renowned journalist, author and speaker. She is currently at work on a new book, Artisans of Money, that will explore the recent rise of the role of central banks in the global financial and economic hierarchy. Her last book, All the Presidents’ Bankers, is a groundbreaking narrative about the relationships of presidents to key bankers over the past century and how they impacted domestic and foreign policy. Her other books include a historical novel about the 1929 crash, Black Tuesday, and the hard-hitting expose It Takes a Pillage: Behind the Bonuses, Bailouts, and Backroom Deals from Washington to Wall Street (Wiley,2009/2010). She is also the author of Other People’s Money: The Corporate Mugging of America (The New Press, 2004) which was chosen as a Best Book of 2004 by The Economist, Barron’s and The Library Journal, and Jacked (Polipoint Press, 2006).

She has appeared on numerous TV programs: internationally for BBC, RtTV, and nationally for CNN, CNBC, MSNBC, CSPAN, Democracy Now, Fox and PBS. She has been featured on hundreds of radio shows globally including for CNNRadio, Marketplace, NPR, BBC, and Canadian Programming. She has featured in numerous documentaries shot by international production companies, alongside prominent thought-leaders, and Nobel Prize winners.

She is a Forbes contributor. Her writing has been featured in The New York Times, Forbes, Fortune, Newsday, Mother Jones, Truthdig, The Guardian, The Nation, Alternet, NY Daily News, LaVanguardia, and other publications.

Her engaging key-note speeches are thoughtfully tailored, and she has spoken at numerous venues including at the Federal Reserve / IMF / World Bank Annual global central bank conference, the Purdue University/Sinai Forum, University of Wisconsin Eau Claire Forum, Ohio State University Law School, Columbia University, Pepperdine Graduate School of Business, Manhattan College, National Consumer Law Center, Environmental Grantmakers Association, NASS Spinal Surgeons Conference, and the Mexican Senate.

She was a member of Senator (and presidential contender) Bernie Sanders (I-VT) Federal Reserve Reform Advisory Council, and is listed as one of America’s TopWonks. She is on the advisory board of the whistle-blowing organization ExposeFacts, and a board member of animal welfare and wildlife conservation group, Born Free USA.

Nomi received her BS in Math from SUNY Purchase, and MS in Statistics from New York University, where she completed all required coursework for a PhD in Statistics. Before becoming a journalist, Nomi worked on Wall Street as a managing director at Goldman Sachs, ran the international analytics group as a senior managing director at Bear Stearns in London, and worked as a strategist at Lehman Brothers and analyst at the Chase Manhattan Bank.

She is currently a Distinguished Senior Fellow at the non-partisan public policy think-tank,  Demos.

*Podcast intro music is from the song “The Queens Jig” by “Musicke & Mirth” from their album “Music for Two Lyra Viols”: http://musicke-mirth.de/en/recordings.html (available on iTunes or Amazon)

Transcript

Click on a timestamp to play from that location

0:00.0

So here we are with Nomi Prince in Guadalajara, Mexico.

0:04.0

How are you doing today?

0:05.0

I'm good, thank you.

0:06.0

It's a beautiful day here in Guadalajara.

0:08.0

It is, and if you can tell on the background, there are no bullets flying and buses burning.

0:16.0

So we're here in Guilajara, Mexico, at the Tech de Monterey.

0:20.0

And so we just want to talk about Nomi's upcoming book that she's working on, Artisans

0:24.9

of Money, as well as how you see the current situation with the economy.

0:29.9

So whichever you want to start with first.

0:33.1

They're interrelated.

0:34.1

I sense the financial crisis, which I don't believe is actually over. It's just

0:38.4

been plastered over by a lot of central bank intervention that has been historically unprecedented.

0:46.6

So we are in this environment now, of course, of zero interest rates in many countries,

0:51.9

which has been precipitated by the Federal Reserve, bringing rates down

0:55.6

to zero in the United States, followed by the European Central Bank, the ECB, bringing

0:59.6

them down to negative over in Europe.

1:02.2

Recently the Bank of Japan going negative, the People's Bank of China reducing rates.

1:07.2

Mexico raised rates for 25 basis points when the Fed did for a second,

1:11.6

but I don't believe that's the direction the Fed's going to continue to go in,

1:15.6

because none of that intervention has really done anything from Main Street economies,

1:21.6

for what I call foundation economies.

1:23.6

They've only helped the private banking system, the financial system, and speculators

...

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