Liberals Love the 'One Percent'

[Scataphagos]

Who do you think is largely getting the benefit of the Quantitative Easing the Federal Reserve is undertaking?

It's the ones with capital, of course.... which is why fiscal policy should be revamped to allow all citizens more opportunity to accumulate capital.

Not for a minute do I believe the Fed ever said, "lets take money away from CD owners and give it to rich capitalists"... though that has been one of the unintended results of QE.

ZIRP has hurt the fixed income crowd, no doubt. But ZIRP was intended to stimulate business and thereby encourage business expansion/employment in this country... not that it has worked all that well.

 

[Tsing Tao]

It's the ones with capital, of course.... which is why fiscal policy should be revamped to allow all citizens more opportunity to accumulate capital.

Not for a minute do I believe the Fed ever said, "lets take money away from CD owners and give it to rich capitalists"... though that has been one of the unintended results of QE.

ZIRP has hurt the fixed income crowd, no doubt. But ZIRP was intended to stimulate business and thereby encourage business expansion/employment in this country... not that it has worked all that well.

I think you give way too much credit to the Fed - especially for someone who normally distrusts the government. If QE was intended to stimulate business and encourage expansion/employment in the country, why was it only offered to the 22 large banking institutions that the Fed considers primary dealers?

 

[Scataphagos]

I think you give way too much credit to the Fed - especially for someone who normally distrusts the government. If QE was intended to stimulate business and encourage expansion/employment in the country, why was it only offered to the 22 large banking institutions that the Fed considers primary dealers?

I try not to give credit to the Fed. I think they are a cancer and we never should have had it. (President Andrew Jackson abolished the equivalent of today's Fed by not renewing their charter. Woodrow Wilson, who made a "late-night, behind closed doors deal" to enact our present Fed in 1913, apologized on his death bed for the pox he'd afflicted upon this country.)

The Fed is here to protect members of the cartel from their mistakes... especially when they get overly greedy/aggressive. The Fed really cares only about the big banks... one ones in the "inner circle". Regional banks... well, they can take care of themselves. And if they go tits-up and their shareholders get wiped out, so be it.

Maybe I'm wrong, but I've never believed their primary function and objective was to "take money from the have nots and give it to the haves"... of course, that's one of the consequences of being the lender. Then again, nobody puts a gun to someone's head and forces them to borrow.

America runs waaayyyy too much on credit. We were proportionately more fiscally sound when we didn't.

 

[jem]

Yes, because the owners of those big banks own the private Federal Reserve Regional banks. They own the system and they purchased the dems and the establish Rs, the media and the spokesmodels like buffet and soros and pimco.

I try not to give credit to the Fed. I think they are a cancer and we never should have had it. (President Andrew Jackson abolished the equivalent of today's Fed by not renewing their charter. Woodrow Wilson, who made a "late-night, behind closed doors deal" to enact our present Fed in 1913, apologized on his death bed for the pox he'd afflicted upon this country.)

The Fed is here to protect members of the cartel from their mistakes... especially when they get overly greedy/aggressive. The Fed really cares only about the big banks... one ones in the "inner circle". Regional banks... well, they can take care of themselves. And if they go tits-up and their shareholders get wiped out, so be it.

Maybe I'm wrong, but I've never believed their primary function and objective was to "take money from the have nots and give it to the haves"... of course, that's one of the consequences of being the lender. Then again, nobody puts a gun to someone's head and forces them to borrow.

America runs waaayyyy too much on credit. We were proportionately more fiscally sound when we didn't.

 

[Ricter]

Yes, because the owners of those big banks own the private Federal Reserve Regional banks. They own the system and they purchased the dems and the establish Rs, the media and the spokesmodels like buffet and soros and pimco.

The owners of big banks ARE government, then, in a practical sense.

 

[dbphoenix]

The owners of big banks ARE government, then, in a practical sense.

Pretty much.

 

[Ricter]

America runs waaayyyy too much on credit. We were proportionately more fiscally sound when we didn't.

Back when the country was last not in debt... 1835?

 

[Tsing Tao]

I try not to give credit to the Fed. I think they are a cancer and we never should have had it. (President Andrew Jackson abolished the equivalent of today's Fed by not renewing their charter. Woodrow Wilson, who made a "late-night, behind closed doors deal" to enact our present Fed in 1913, apologized on his death bed for the pox he'd afflicted upon this country.)

The Fed is here to protect members of the cartel from their mistakes... especially when they get overly greedy/aggressive. The Fed really cares only about the big banks... one ones in the "inner circle". Regional banks... well, they can take care of themselves. And if they go tits-up and their shareholders get wiped out, so be it.

Maybe I'm wrong, but I've never believed their primary function and objective was to "take money from the have nots and give it to the haves"... of course, that's one of the consequences of being the lender. Then again, nobody puts a gun to someone's head and forces them to borrow.

America runs waaayyyy too much on credit. We were proportionately more fiscally sound when we didn't.

The Fed is run by the big banks. The policies they carry out are to benefit the big banks, no one else, no matter what they sell people in public.

 

[Tsing Tao]

The owners of big banks ARE government, then, in a practical sense.

I'd argue that big banks own the government, not the other way around.

 

[jem]

do we agree on something or are you just restating my position and beginning to understand why we need conservatives old school liberals and union workers to create a new party?

I thought it was odd to me that liberals (not today's lefitsts but real liberals like ralph nader and even sometimes Olivers Stone) are now sometimes making statements I agree with. I wonder have I changed or has the government or are we all moving towards the realization the dems and the establishment Rs are corrupt crooks only seeking money and re election in exchange for screwing the people and destroying our constitutional rights?

The owners of big banks ARE government, then, in a practical sense.