The Fed., Inc. wants to KILL FREEDOM

Or maybe just destitute:

Bernanke has no plan for expanding conventional lending or strengthening the parts of the system that still work. All his efforts have been focused on salvaging insolvent banks and restarting securitization. Securitization–transforming pools of loans into securities—was Wall Street’s Golden Goose, a privately-owned credit-generating mechanism which created windfall profits by selling radioactive waste to over-trustful investors. Securitization is the epicenter of the shadow banking system, the mostly-unregulated universe of opaque debt-instruments, off balance sheet operations, and massively over-leveraged financial institutions. Securitization broke down after subprime mortgages began defaulting in record numbers sending risk-adverse investors scuttling for the exits.

The Fed has allowed an unregulated and untested privately-controlled “credit generating” shadow banking system to infect the broader economy and create a nation of credit addicts which are entirely at the mercy of unpredictable market fluctuations. Is this how the economy’s “life’s blood” should be distributed?

The only reason this occult system was allowed to flourish–with the tacit support of the Fed and the Treasury– was because it threw open the profit-sluicegates for the banks and Wall Street speculators who made more money than anyone ever thought possible. Clearly, this is what motivates Bernanke and Geithner. These are their real constituents.

Mike Whitney via patrick.net

The Soviet Union spared no expense trying to prop up their failed economic model (“we pretend to work, they pretend to pay us”). The outcome was predictable and eventually it went *poof* and disappeared into oblivion.

The Fed., Inc. is attempting to do the very same thing in the USA.

The eventual outcome is… obvious.


In USSA banks rob you!

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