Quote:
Originally Posted by spence
It's also not like investors are altruistic, they're trying to make money...I'm not blaming the markets or investors, the entire thing was a gigantic fuster cluck.
-spence
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I blame investors, but not in the way you might think.
Imagine this conversation between the head of a large global investment bank and Fed Chair Alan Greenspan:
Quote:
Boss of Goldman Schmucks: "Hey Alan. We're under water. You have to help us out and lower interest rates."
Alan Greenspan: Uh, okay. Sounds like a plan.
Goldman Schmucks: "Get to it!"
Alan Greenspan: "Right oh! Rates to zero percent pronto! I'll start printing money right away."
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This is a simplification of the process, but that is basically the way it happened.
If folks understood the nature of the Federal Reserve (it is NEITHER) ... folks would understand what a corporatist scam this operation is.
The Federal Reserve is a PRIVATELY OWNED BANKING CARTEL which exists for the BENEFIT of its shareholders.
Who are its shareholders?
THE BANKS.