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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj

Saturday, 29 March 2014

http://globaleconomicanalysis.blogspot.co.uk/2014/03/reader-question-on-banking-system.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29

Speaking before Congress, Bernanke said the collapse of Lehman was his biggest mistake. I suggest it was his only success. Over-leveraged financial institutions should pay the price for their folly, not overburdened taxpayers in general.

The poor bailed out the wealthy. The poor continue to pay the price in two ways.


  1. Excessively low interest rates on deposits
  2. Fed actions to drive up inflation when real wages do not keep up

Not only is that unnecessary, it's middle-class destructive. It's also conveniently disguised theft.
Read more at http://globaleconomicanalysis.blogspot.com/2014/03/reader-question-on-banking-system.html#hGjbLRQ1djpYfrK1.99
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2 comments:

  1. John Patterson29 March 2014 at 16:03

    Long Live The Tunnel
    https://docs.google.com/drawings/d/1ySL5Hf7NzkENDr4RpX4X9wEi_saSOZOwjlI7QbuJjsY/pub?w=1440&h=1080

    ReplyDelete
  2. Chartrambler29 March 2014 at 16:11

    interesting chart,thanks.

    ReplyDelete

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