Barbarian Banksters, the Frauderal Reserve (oops, I mean Federal Reserve) and a Straightforward Overview of the “largest transfer of wealth in history…”

If I can give one quick (ha ha) thought, it would be this: although they are often intimately tied, and the edges are unclear, whenever somebody talks about “the economy”, differentiate in your head, if you can, between the so-called “real” economy” (things actually produced), and the “financial” economy or financial sector (money traded, created, speculations bundled and sold, compound interest etc.). The “financial sector” is also what they call Wall Street, as compared to Main Street. Again, there is wide crossover, of course, neither are perfect, but the financial sector is on a real pathological tear these days, evidently at the expense of the most average Joes and Joannes on Main Street…

I probably don’t even have it right, but just keep it in mind, because they work from different premises.

Here’s one explanation of what’s gone on between Wall Street and the Federal Reserve (which definitely counts as the financial sector, and is despised by many, Ron Paul being perhaps the most famous example…

Visit msnbc.com for breaking news, world news, and news about the economy

Fairly straightforward. That ol’ Alan Greenspan. Ain’t he something? He had a bout of possibly useful, confessional honesty, for a moment, way back, but it appears to have passed—replaced by self-preservation.

And here’s Matt Taibbi (who I’ve written about here and here) giving another example of how Wall Street is Looting Main Street, and how if all was fair at all, these actions would be criminal.

Don’t get too down. A little knowledge is empowering. Try to stay out of debt. Be grateful.

Lots of love to you,

Pete

Share

One Response to “Barbarian Banksters, the Frauderal Reserve (oops, I mean Federal Reserve) and a Straightforward Overview of the “largest transfer of wealth in history…””

  1. Jesse says:

    Okay, so if we can’t beat em’ can we join em? I’m thinking there’s no more Lehman Brothers, so maybe a Miller McCormack Brothers can get in the game. I imagine it’s quite hard to become a bank, but man, if there’s no risk…..

    Seriously though, the video simplifies a huge problem. Thanks Pete.

Leave a Reply