Press "Enter" to skip to content

The Federal Reserve is contemptuous of non-elites and about to make the financial system much, much worse

The Federal Reserve is contemptuous of non-elites and about to make the financial system much, much worse

Screen_Shot_2020_03_24_at_10_2.jpg

Imagine if the congress approved a measure to form a public-private partnership between the US Treasury and the Federal Reserve. Can you imagine that? Now imagine if a panicky and ill-informed Congress gave the Fed a blank check to bail out all of its crooked crony corporate and Wall Street friends, allowing the Fed to provide more than $4.5 trillion to underwater corporations that ripped off Mom and Pop investors by selling them bonds that were used to goose their stock prices so fatcat CEOs could make off like bandits. Imagine if all that red ink from private actors was piled onto the national debt pushing long-term interest rates into the stratosphere while crushing small businesses, households and ordinary working people. Now try to imagine the impact this would have on the nation’s future. Imagine if the Central Bank was given the green-light to devour the Treasury, control the country’s “purse strings”, and use nation’s taxing authority to shore up its trillions in…
Source: The Federal Reserve is contemptuous of non-elites and about to make the financial system much, much worse

Facebook Comments

Disqus Comments

Specify a Disqus shortname at Social Comments options page in admin panel
Mission News Theme by Compete Themes.