Posted on May 30, 2015 by JayWill7497
We are all about to be taken to the woodshed, cautions David Stockman in this outstanding interview.
We are all about to be taken to the woodshed, cautions David Stockman in this outstanding interview. The enormous wealth inequality is “not because of some flaw in capitalism, or Reagan tax cuts, or even the greed of Wall Street; the problem is central banks that are out of control.” The bottomline is, they have “syphoned financial resources into pure gambling” and the people who own the stocks and bonds get the massive financial windfall. “The 10% at the top own 85% of the financial assets,” and therefore, thanks to the unleashing of almost limitless money-printing, which has developed an enormous worldwide financial inflation, “the central banks have created and exaggerated the wealth gap.” Stockman wraps up, fairly ominously, “it’s a coup d’etat, the central banks have taken over – unconstitutional domination of the entire economy.”
“Everywhere, misleading distorted signals are being given to both public and private sector players about financial values… the prices have been falsified by The Fed.
We can’t print our way to prosperity… The Fed is now petrified that Wall Street will have a hissy-fit when they tighten.”
War of the Central Banks?
Western central banks have typically worked this scam quietly. Not so much the Chinese, whose blatant gaming of the system points up its weaknesses for all to see.
Georgetown University historian Professor Carroll Quigley fabricated himself the librarian of the international bankers. In his 1966 book Tragedy and Hope, he published that their aim was “nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole.” This system was to be controlled “in a feudalist fashion by the central banks of the world acting in concert by secret agreements,” central banks that “were themselves private corporations.”
It may be the Chinese, not behaving in conjunction, who break up this cartel. The PBOC ( powers beyond our comprehension) is no more transparent than the US Fed, but it is not an “independent” central bank. It is a government organization accountable to the Chinese government and operating on its behalf.
The Chinese have seemingly figured out the game of the “independent” central bankers, and to be utilizing it to their own benefit. If the Fed can do quantitative easing, so can the Chinese – and buy up our assets with the profits. Owning our corporations rather than our Treasuries assists the Chinese break up US dollar hegemony.
Whatever power plays are going on out of view of the public, it is progressively clear that they are not serving We-The-People. Banks should not be the distinctive makers of money. We the people, through our representative governments, want to be providing the national money supply directly, as was done in America under President Abraham Lincoln and in colonial times.
“The Federal Reserve has been doubling-down for years, Eric, with QE1, QE2, Twist and now QE3, which has no limit. The other central banks have been doubling-down too because just about all of them are out of control. They refuse to admit, or possibly do not even understand, that their formula to create wealth by money printing is based on flawed economic theory which is just plain wrong. Wealth does not come from the printing press; it only comes from hard work.”
– James Turk via a recent King World News interview, read the full interview here:
Thanks to: https://jwilliams7497.wordpress.com