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Presidential Address

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  • #16
    Re: Presidential Address

    >> "I think I expected that sooner or later he would be tutored about the real job a US president is expected to do - to be a delivery boy for the big corporations and the private organization of criminals called the Federal Reserve."

    I agree with every point in your post. I'm glad you mentioned the Federal Reserve. What a disaster. Here we have a consortium of people, including foreign interests, that have by far the largest control over our economy. Criminals is not an overstatement.

    We all like low interest rates, so the Fed policies might be viewed as good. As I see it, it's horrible. When John Q Public deposits money into a savings account, he is essentially making a loan to the bank, who then loans the money out, turning a profit. But because of the Fed, they don't need your money. They get money from the Fed at an artificially cheap rate, so they don't need your deposits. That's why they pay you such crappy interest. We are competing with the Fed's prime rate. Joe Average can't afford to keep his money in 1% savings accounts because he will get nowhere.

    So, average people have no option except to be heavily into speculative investments like stocks, mutual funds (same thing) and real estate. Supply and demand says that with the tremendous influx of money into those markets, the prices will go up. Sounds good, right? Nope. You end up with the real estate bubble and the stock market bubble. Stocks trading at crazy P/E ratios mean, essentially, that they are overpriced. Eventually, they come crashing to earth. It happened in 2000, and it happened last year. The net result is that most people have had disappointing (at best) returns or losses over the past many years. Who is profiting from this? The investment banks - Wall Street! They get theirs no matter which way the markets go. And the Federal Reserve criminals are tied into that.

    Many if not most view their home as an investment. That's crazy! It's not an investment, it's a home. All the people that are losing their homes are evidence of the insanity of using your primary residence as an investment. You can argue that people who are in that boat earned their problems. I personally am very conservative fiscally and might share that viewpoint. But I also see that people were driven to make these stupid decisions because, thanks to the Fed, they have been given no safer investment options. The banks encouraged it with their loan practices.

    Keep in mind how the landscape has changed. In the 1960s regular passbook savings were paying 5-3/4%, which meant that you could double your money several times in your savings lifetime. Thank you, Federal Reserve, for taking that away. Does your 5% mortgage really amount to a good deal when your savings isn't earning squat? Those low mortgages are a main reason that home prices jacked up out of site, so the net result is you're paying more anyway! Kind of a shell game.

    Ah, then look at the 401k and IRA programs. Most employers have ditched their pension programs in favor of these "employee funded" options. Our friends in D.C. helped by giving a tax writeoff. What happened? Again, the vast majority of the huge money flowing into these programs went to Wall Street, into mutual funds. Drove the price up, even though the Companies didn't really do anything to deserve it. Again, the immutable law of supply and demand. And who profited? We didn't.... the market "corrections" took care of that. The beneficiaries were again the investment bankers that took their profits no matter what happened to the value of your investment, and the top dawgs in the corporations who make a killing on their excessive options.

    And that tax writeoff? An illusion. The government has to have revenue. They just increase the tax rates and cut out other deductions (like the credit card interest deduction) to make up for it. You pay the taxes anyway... you have to. Where else does the money come from?? Again, a shell game.

    I could go on and on, and many are surely aware of all this anyway. I believe that history will show that the United States, the greatest economic machine in history, fell apart when control was granted to the money changers.

    The financial institutions - banks, Wall Street, insurance companies, and most of all the Federal Reserve - are the enemy, the enemy within.
    Last edited by Andy_M; 12-07-2009, 08:16 AM.


    • #17
      Re: Presidential Address

      " The financial institutions-banks, Wall street, etc"

      This is nothing new. Most of you are two young to remember or even know, but during WW II, there was a meeting of the worlds top bankers to determine how the financial world would operate after the war. The meeting included Japan and Germany.