The New American: “As we have noted in our past reports on the Jackson Hole events of the Fed, (see, for instance, Jackson Hole Conclave: Central Bankers Plan Global Theft, Massive Pain) these yearly jamborees bring together the capi de tutti capi (the “bosses of all the bosses”) of the Money Mafia to decide how much wealth they will milk from the world’s middle classes and the methods of extraction they plan to use.
A host of economic signals and clues indicate these banksters are getting ready to pull another manufactured financial and monetary “crisis” that will dwarf the bailout calamity of 2008-2009.”
Opinion: “I believe that banking institutions are more dangerous to our liberties than standing armies,” Thomas Jefferson
When it’s all over, if there is anyone left to write a book, the Federal Reserve should be listed as the #1 culprit of financial chaos, followed by corrupt politicians that appoint them.
The Federal government sees the Federal Reserve as a money manufacturer. The government is happy as long as the Fed prints enough money each year to cover the Federal deficit.
The deficit for 2016 is projected to be $600 billion, which is the amount the government spends over what it takes in from income taxes. Deficit spending is why the national debt hit $19.5 trillion yesterday.
The Fed also prints money (stimulus) in times of recession, controls short term interest rates, and provides liquidity to its member banks.
So what’s the problem?
When the Fed prints money and loans it to the government, it must be paid back at some future date. There is no limit to how much the Fed can print and if/when the day comes that the government can’t pay it back, it is not unlike a drug dealer with his junkie client.
The Fed can force the government to raise taxes, even up to 90% or more.
Like the drug dealer has the power to keep his client hooked, the Fed creates money so that the government can spend it on all kinds of ridiculous programs to keep its constituency voting for it.
Government can then start wars, throw $20 trillion at the war on poverty, and run up a future debt of 125 trillion on Social Security, Medicare and Medicaid and keep on spending.
Everybody is happy.
I do not know what or when the tipping point will be, but the Bible tells us that there is one. The Rider on the Black Horse (Rev 6: 5-6) says it will take a day’s wages to buy a day’s food, but the rich and the Fed governors (represented by oil and wine) will not feel the pain until after the mid-point of the 7 year tribulation, as described by James 5:1-6:
“Come now, you rich, weep and howl for your miseries that are coming upon you! Your riches are corrupted, and your garments are moth-eaten. Your gold and silver are corroded, and their corrosion will be a witness against you and will eat your flesh like fire. You have heaped up treasure in the last days. Indeed the wages of the laborers who mowed your fields, which you kept back by fraud, cry out; and the cries of the reapers have reached the ears of the Lord of Sabaoth. You have lived on the earth in pleasure and luxury; you have fattened your hearts as in a day of slaughter. You have condemned, you have murdered the just; he does not resist you.”