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We sold our soul to the financial devil and there is no satifying his GREED. “Justaluckyfool”

September 23, 2013

When Bernanke decided to buy MBSs is the same as “when we the people gave the power to print money to the banks.

We sold our soul to the devil. We have given them the legal right to print all the money they want without constraint because if they print ‘too much’ the Fed MUST make it good or else (they call it ‘systemic failure’). Now if the Fed were to discontinue MBS purchases, what then, ‘market failure’ ?

Rates go up, MBSs go down but at least no systemic failure for as soon as that happens the Feds can conplete their bailout by buying all the MBSs and having a bondfire (burning the worthless paper while at the same time making the banks solvent: something they can’t be while they are “backing’ (their big mistake) the MBSs they printed. Not to worry, Uncle has your back.

We sold our soul to the financial devil and there is no satifying his GREED. “Justaluckyfool”

 

Bob Lenzner shared a link.

Bernanke’s Taper “A Monster He is Struggling to Control”

http://www.forbes.com

Fed Chairman Bernanke and central bank mavens were forced by  weak economic numbers  and higher trending interest rates to call off the taper even though  apparently
 
 
Carmen Basilovecchio shared a link.

The Economic Realms: Towards a Zero-Cost Economy

theeconomicrealms.blogspot.com

 
 
 
 

  • a/k/a “Justaluckyfool” MY PLEA: As with any idea-Challenge it or Indurse it.(M. Yunus)
    http://theeconomicrealms.blogspot.com/2013/09/towards-zero-cost-economy.html
    Quote:
    “Taxes can be reduced or even eliminated if we create The Citizen’s United Financial Institution, which profits can cover the cost of running state and local governments.
    The ultimate goal of a zero-cost economy is to create a semi cost-free and a carefree economy—Carefreeism, defined as economic security in a carefree economy….
    Carefreeism serves the general economic interest of all groups of people, from improvised to the superrich, without being politically tainted by any political party. It is environmentally compatible as well as universally applicable concept. Therefore, the main goal of a conscious and responsible government, whether local, state or federal, should be to follow the concept of a Zero-Cost Economy, immediately and rigorously, if the human race ultimately is to enjoy general economic security and prosperity in peace.”
    Quote Justaluckyfool, “Perhaps as Einstein said, ‘Make it simple’ “.
    WHERE we went wrong: Allowing private institutions to “print” our money ,which then allows them to charge compound interest on that potential money. THEREBY MAKING PRIVATE FINANCIAL INSTITUTIONS MORE POWERFUL THAN THE SOVEREIGN NATION. If it were possible to sum up the single greatest flaw to capitalism ,it would be :It allows for the “most powerful force in the universe”… to quote Einstein,” compounding ” interest, to be used against that society.The lender becomes the owner of all the money based upon the act of compounding at any rate within a long period of time. A cycle that commands total money control or it must bust. When will we learn and believe that a private bank is allowed to print new money and it may at will dispose of its constraints!
    THE SOLUTION:
    (1). AMEND THE FEDERAL RESERVE CHARTER; TURN THE FED RESERVE INTO THE Central Bank that works FOR, BY, Of the people; no longer have a Central Bank that wotrks FOR THE Private For Profit Banks.
    RESTORE MONETARY POWER BACK TO THE PEOPLE ,OPERATE THE FRB WITH ABSOLUTE TRANSPARENCY, (“GLINDA,the Good Witch, owns a Great Book of Records that allows her to track everything that goes on in the world from the instant it happens.”_The Road to Oz)
    ESTABLISH THE FRB AS THE ONLY MEANS FOR CURRENCY SUPPLY.
    Private for profit banks will have to be self-insured. Risk 100% their own investors money for 100% reward.
    (2) The Federal Reserve Bank of America: -Will no longer allow the paying of interest for the use of its own money,rather it will charge interest for the use of its money.. Will take away from others the right to “print” our own currency. Will stop the stupid practice of paying interest on our own money. Will wake up and realize that “There is only one fair Income Tax,period; only zero is fair. -Will not take deposits from anyone other than for the US Treasury.
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