When the fear of God departs, you’d better be ready for the consequences.
Western elites from Washington, DC, to New York, to London and Brussels have made sport of lawlessness in recent years, and because general and economic education has been so dumbed down, most citizens have no clue how much those in power have robbed us in the guise of “rescuing” us.
As Jeremy Warner writes for the Telegraph:
Like common brigands, central banks have been acting outside the law… by driving up the value of financial assets and real estate, QE further skews the distribution of wealth towards those with already large holdings of it. It robs from the poor and gives to the rich.
Warner’s description, “Reverse Robin Hood” is a correct characterization: They robbed from average people to give to the elite–total opposite of the man from Sherwood Forest who robbed from corrupt government to give back to the people who had been plundered. We could use a modern Robin, for sure.
Why work hard to make an honest living, and help your neighbor and community, when you can become a Central Banker and plunder obscene wealth for you and your criminal comrades from taxpayers? Then, you have all the more money to buy politicians who will baptize your law-breaking, and ensure that the cycle continues.
What very definitely did occur is that small cash savers got squeezed and debtors got bailed out. The biggest of these debtors were governments, particularly the British, US and Japanese governments. All of them were able to borrow more cheaply than otherwise and, with the central bank mopping up supply, were able to raise a great deal more money. Central banks became enablers of continued deficit spending.
“Became”? This is the key purpose of Central Banks, from the government side of the heist. The bankers get rich, the politicians get borrowed cash in order to purchase power.
The next time you hear someone spouting blarney about how Hank Paulson, Tim Geithner, and Ben Bernanke saved the world during the financial crisis of 2008-09 remember this article. It wasn’t saving the world; it was by far the largest white collar crime in history.
The Federal Reserve needs to die, and useful idiots like my own U.S. Senator, “Bailout Bob” Corker, must be tossed out of office, if not put behind bars. The bankers couldn’t have pulled it off without accomplices like Corker clearing the roads, and driving the getaway car.