The Rot Runs Deep 1: The Federal Reserve Is a Parasitic Wealth Transfer Machine | Charles Hugh Smith

August 27, 2012.   Today I launch a series entitled “The Rot Runs Deep” that examines the moral and financial rot at the core of American finance, politics and culture. We have reached a unique junction of American history: the confluence of Big Lie propaganda, neofeudalism and the worship of false financial gods.

The Federal Reserve is a wealth transfer machine, skimming wealth from the productive many and transferring it to the parasitic few. The Big Lie propaganda machine of corporate media and the Central State has perfected Orwell’s nightmare vision of centralized media and a fascist centralized State which turn lies into self-serving “truth.”

Since the Federal Reserve is once again expected to “save” a crumbling, exploitative Status Quo, let’s use the Fed as an example. The propaganda machine would have us believe that the Federal Reserve, the privately owned central bank of the U.S., has “saved” the Status Quo from financial ruin on numerous occasions by “smoothing out” the business cycle (credit expands and contracts) and by “stimulating aggregate demand” by lowering interest rates and pumping money into the economy (quantitative easing). Continue reading

Dollars vs Money | The Grey Enigma added a page (see above)

Dollars vs Money « The Grey Enigma.

Chuckie Schumer Tells Bernanke: ‘Get To Work, Mr. Chairman’ – Wall Street Dominates ‘Schumer’s List’ | The Daily Bail

Oh yes, you can be sure that ol’ Chuckie Schumer is going to be looking out for the little guy.  I am of the opinion that there is a special place reserved in hell for this sniveling, self-aggrandizing piece of crap.

The headline quote from the Wall Street-owned Schumer has made the rounds.  Chuck basically spends 5 minutes pleading with B-52 for more QE.  The quote comes at the very end of the clip.   Captured Senator contributor list is below. Guess which bank is #1…

click to jump to post at Daily Bail

via The Daily Bail.

America is Teetering on the Brink of Monetary Destruction | Libertarian News

The Wall Street Journal recently reported that in 2011, the Federal Reserve purchased a mind-blowing 61% of Treasury debt issuance…  When the U.S. needs money to fund its ever-expanding foreign interests, social welfare programs, or its war against dried flowers, it can obtain that money through a few different means. The least effective and most politically dangerous way for it to obtain money is to threaten American citizens with imprisonment if they don’t fork over their dough. Historically, Americans have refused to hand over anything greater than 20% of GDP through taxes regardless of tax rates or the threats the state makes against their person.

Since the state has trouble getting Americans to hand over their money, it generally turns to the much easier second option to finance itself: printing money. In today’s economy, the state prints money by issuing treasury debt. Normally it sells this debt to foreign nations, since this exports the inflation created by the issuance of new debt. However, there are natural limits to the amount of debt foreign nations are willing to hold.

The U.S. has reached that limit and then some… via| Libertarian News.