"The Fed" had nothing to do with it.
The majority of wealth of the ultra rich is created through the rise in asset bubbles such as the stock market and the housing market. The FED has a lot to do with it.
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"Noam Chomsky once quipped that if the Nuremberg laws and regs applied just post WWII, were moved forward and applied fairly to all, up to today’s date, that each and every president since then, would be hung by the neck until dead, for the crimes of genocide on the world stage."
Chomsky was right, but even he, like Pilger and others, dare not tell it straight. No president since Kennedy has been able to speak up against the cabal that control the world’s money supply. Does Congress control the Federal Reserve, or is it the other way around? In any case it’s never a good idea to allow your national debt to surpass your GDP, is it? What other result can you expect other than lifelong economic slavery for the working people? As they say, nothing in life is certain, apart from death and taxes.
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Taxing the hell out of the top !% is not going to solve the US’s financial problems. The net worth of the top 1% according to the Federal Reserve is 42.5 trillion dollars as of June of last year. If the US confiscated the entire net worth of the top 1%, it would pay off our current national debt of 30 trillion dollars and cover the federal government’s spending for another year or two.. The additional amount of money the government would get by taxing or confiscating those further down the net worth list (top 2%, top 10%) would shrink rapidly. Whenever this take from the rich and give to the poor approach has been tried, it has resulted in economic disaster for everyone except those high up in the government. Governments are just not good at running economies. Although It is a shame that so much wealth is concentrated among so few, the solution is not having the government take their money. It is for our society to become less materialistic, and that includes us. The people on this forum are probably among the top 1% in net worth if we look at the population of the entire world. So if we want to spread the money around more equitably, the solution is for everyone to buy less and give more. |
US national debt clock: https://www.usdebtclock.org/ The FED is a giant ponzi scheme. Actually the US debt to GPD ratio is not as bad as among the world leading economy. |
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