“The Fed was set up to help the real economy when Wall Street periodically destroyed itself. So the folks at the Fed have become so corrupt and so captured by the banking industry that we've turned to whole thing on its head.”
-Chris Whalen, author of Inflated: How Money and Debt Built the American Dream.
The Fed came to the aid of big corporations afraid of “losing market access.” Find out what this means and who, essentially, got money for nothing in bailouts and taxpayer dollars in the closing video...
The lack of funding and lack of investment plaguing America may all stem back to problems associated with this type of dysfunction initiated by the Fed.
Meanwhile, the Fed continues to use quantitative easing to avoid restructuring the banks that need it most. Walen says there is no hope for growth without taking pivotal steps towards central bank restructuring processes.
Back in the day when the individual feared the power of big corporations, Teddy Roosevelt said, "We will not live under kinder masters."
Now, as ultimate power has slipped away from corporations and into the hands of central bankers, the economy is now experiencing unprecedented evil.
Perhaps Roosevelt was right. Perhaps the Fed and big banks really have sent the economy into a dark corner of hell...
Chris Whalen divulges why America doesn't have jobs, investment, or prosperity these days in the interview below:
No comments:
Post a Comment