When the US Federal Reserve bought an 80% stake in American International Group (AIG) in September 2008, the unprecedented $85 billion outlay was justified as necessary to bail out the world's largest insurance company. Today, however, central banks are on a global corporate buying spree not to bail out bankrupt corporations but simply as an investment-to compensate for the loss of bond income due to record-low interest rates. Indeed, central banks have become some of the world's largest stock investors.
*Ellen Brown is an American author, political candidate, attorney, public speaker, and advocate of alternative medicineand financial reform, most prominently public banking. Brown is the founder and president of the Public Banking Institute, a nonpartisan think tankdevoted to the creation of publicly run banks.
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