The Giant Cover Up
Mike Krieger of Kam LP
Much has been written about QE2, too much really. However, today I want to take a step back and look at it from another angle. QE2, or the latest round of Federal Reserve quantitative easing is in all reality just a move of extreme desperation by what Max Keiser appropriately calls “financial terrorists” to cover up the recent coup d’etat of what was left of America’s wealth by special interests across the spectrum from politicians themselves, the military industrial complex and crucially the big Wall Street firms that gamble with taxpayers money all the while calling themselves banks. At the center of the theft is and continues to be the Federal Reserve. Using the financial collapse of 2008 as a smoke screen, the totally bankrupt large Wall Street firms using their puppet ex Goldman Sachs CEO and then Treasury Secretary Hank Paulson sufficiently scared our politicians to give them unlimited sums of money, suspend accounting for their bad assets and then go right back to gambling again and paying huge bonuses all the while never accounting for their assets at market value. The hope from the perspective of the Federal Reserve has been that by pumping virtually unlimited amounts of newly printed money into the banking system (which is what quantitative easing is) they could create another fake Keynesian economic boom that would get people back to work and back to sleep again. Housing prices would start rising again and none would be the wiser until the system collapsed again a few years later (which it would be guaranteed to do) but then it would be much too late to stop it.
Fortunately for all of us, this is not the way things turned out. Do you recall that as soon as the financial crisis happened there was this desperate attempt to “sell” the event as a failure of the free market? This of course would have suited the interests of the elite perfectly as it would permit them to further consolidate power in the hands of very few. Once wealth is established it can then be protected by a government that writes rules and regulations to benefit those elite and prevent opportunities for all others. This is the easiest way to preserve wealth since you don’t have to compete with new geniuses that are born every day all over the world. If all these traders and analysts at the big banks are so skilled then why are they so afraid of a level playing field with which to compete with hedge funds, mutual funds and just plain ordinary Americans? It’s pathetic the way they hide under the government blanket. Nevertheless, thanks to the internet and the study and hard work of many people that have explained how economics really works, the collective consciousness was able to see through this scam and never bought the “sell.” It has taken time, but slowly but surely the truth is winning out the debate. The TRUTH is that we do not and have not had anything remotely resembling a free market economy. As I have said many times before, the most important price in any economy is the price of money which is in the interest rate. In the United States we give the monopoly power on both the issuance of money itself and its interest rate to a small group of academics answerable to nobody. This group is the Federal Reserve. The head of this fascist organization is Ben Bernanke who seemingly committed perjury recently. See the quotes below.
Ben Bernanke in from of Congress stated: “The Federal Reserve will not Monetize the debt.” Audio can be found here.