Wednesday, Apr 23, 2008
More destruction please - WE ARE not ready for CHANGE yet
Market Oracle: US Fed Takes Money From Main Street to Give to Wall Street
In essence, Federal Reserve has reallocated money from Main Street to Wall Street. This massive shift of funds to Wall Street aways from producing sectors of U.S. economy has some strong implications. U.S. recession will be deeper and longer. Rather than allowing system to purge itself of weak financial institutions, Federal Reserve is providing them with special funding. Money has been shifted from goods and services producing sectors to non productive financial entities.
Posted by sold 2 rent 1 @ 11:33 AM (237 views) Add Comment
2 Comments
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1. tyrellcorporation said...
My argument exactly. Imagine pumping the same billions into large civil construction jobs and heavy industry and giving massive tax breaks to SMEs. Sadly all the FEDs mates work in Wall Street.
2. malct said...
Fractional Reserve Transfer Of Wealth Related Videos
http://www.videosift.com/video/Ron-Paul-A-Transfer-of-Wealth-from-the-Poor-to-the-Wealthy
also a conspiracy theory
If mankind were to engage solely in wealth transfer processes, the stock of wealth could not be maintained let alone increased. Wealth creation is therefore fundamental to the survival of mankind. Mechanisms of wealth transfer are examined, in particular the parts played by collateral and leverage. It is proposed that these various mechanisms conspire to promote speculative booms, which in turn can have a dangerous impact upon the allocation of resources.
http://www.theproblemwithinterest.com/
and :-
Fractional reserve banking amplifies the theft by allowing the bank to lend out multiples of existing deposits. For example, a bank may lend out 10 times the amount of deposits on hand (a reserve ratio of 0.1). This scheme hangs by a thread because the slightest shift in public perception leading to a bank run can bring the house of cards crashing down. With a low reserve ratio, it doesn't take many withdrawals to precipitate that
http://austrianeco.blogspot.com/2007/09/fractional-reserve-banking.html