Exposing The 1/10th Of The 1 Percent: Recognizing The Kleptocracy

 

Via Political Outcast
CNBC, much like Bloomberg, is a source for regime propaganda. It wants people to comply with a system of central-bank-driven nation-states. But the only way it can be effective as propaganda is to keep its ratings up.
That is the only reason people like James Grant get time on the network. But Grant’s sensible critique of the Federal Reserve system was too much for fedreservista Steve Liesman decided to challenge him, claiming that the Federal Reserve’s QE program was “working.”
Of course, Grant couldn’t challenge him on that basic point since the Federal Reserve’s policy is “working” for CNBC’s base. If you want to understand how the Federal Reserve is submerging main street under forever-recession in order to enrich Wall Street, meditate on Grant’s response:
Five years, and they are conjuring $85-billion-a-month, with which to buy securities, with which to enrich Greenwich, Connecticut, even more. This is what it is. This is the policy of the one-tenth of one percent. Steve, I got up this early to talk, not to listen. I can listen to you at home, staying in bed… You said there is no inflation. How about on Wall Street? How about stocks and bonds and art and Ferraris and farmland? Assets are up.
I recently posted about George Will making the same point. The Federal Reserve is actively redistributing wealth every day away from the working-, lower-, and middle-class into the net worths of the rich. While labor participation remains abysmal the richest of the rich keep increasing their wealth. The Federal Reserve’s apologists are so hypocritical about this, they will actually accuse Congress of not doing enough to address “income inequality” even while they are creating more of it.

The Federal Reserve is essentially a false flag attack on the free market. We pretend we have a free market when in fact we have a central bank constantly manipulating the currency. We then pretend the results of Federal Reserve manipulation are the fault of “capitalism.”
It is true that Grant is probably getting ahead of himself in talking about a currency collapse. What is more likely for now is a general economic downturn due to overinflated values assigned to debts that are never going to be paid off. We have inflation in certain assets right now, but those asset prices may collapse. Despite the Federal Reserve’s panicked money printing, prices may fall rather than rise.
At which point, Congress will be ordered to bail out Wall Street again.
Read more at http://politicaloutcast.com/2013/12/jim-grant-exposes-110th-1-percent-recognizing-kleptocracy/#bwBYrpCi2sZKIZp0.99

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