The Next Economic Crisis Is Coming says Richard Wolff
Jan 16, 2019 15:06:28 #
What is Trump going to do with the Fraud of the Plunge Protection Teams ?
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Richard Wolff: The Next Economic Crisis Is Coming
Every time I sit down with economist Richard Wolff, he demonstrates why the field of economics is so necessary in the cultural critique of our American empire. In my recent interview with him, we discussed why the thriving economy touted by President Donald Trump hasn’t translated into real gains for the majority of Americans. We also went over what is hidden by the economic indicators that allow the financial industry to celebrate while so many Americans are still suffering.
Professor Wolff talked with me on my show “Redacted Tonight: VIP” on RT America. Enjoy this excerpt from the interview.
LEE CAMP: Professor Wolff — thanks for joining me! Last month was, apparently, the worst December for the stock market since the year 1980. What’s going on here?
RICHARD WOLFF: A lot of things are coming to a head. Each one of them by itself might have gone by without this, but they’re too many.
To list major ones: The tariff war with China, Europe and the rest creates enormous uncertainty. It makes all the predictions and plans of corporations and entire countries uncertain. People are holding back. Number one.
Number two, the capitalist system that we’re all part of has a downturn on average every four to seven years. It’s been more than seven years since the last crash — 2008/9 —so everybody knows it’s coming.
It’s not a question of whether, we’ve never been able to overcome these kinds of instabilities in our system. So we’re overdue for one.
And here’s another one that people don’t talk about. The big tax cut last December, 2017, gave an awful lot of money to the richest Americans and to big corporations. They had no incentive to plow that into their businesses, because Americans can’t buy any more than they already do. They’re up to their necks in debt and all the rest.
So what they did was to take the money they saved from taxes and speculate in the stock market, driving up the shares and so forth. Naive people thought that was a sign of economic health. It wasn’t. It was money bidding up the price of stock until the underlying economy was so far out of whack with the stock market that now everybody realizes that and there’s a rush to get out and boom, the thing goes down.
Very serious. The question now is how badly the underlying economy — jobs, incomes, and debts — will be impacted negatively by all of this stock market downturn.
LC: You brought up predictions of an impending crash because it’s been seven or eight years, even JPMorgan Chase has told investors that the next crash, the crisis, they think will be in 2020. What does it mean when the largest financial firms in the world are saying, “Oh yeah! We’re just going to have another financial crisis around the corner”?
RW: It’s a wonderful sign. (Laughs) And by the way, JPMorgan Chase is not the only one. Goldman Sachs has done that, the International Monetary Fund, lots of the major players know it’s coming. The only disagree on exactly when which you can never know anyway. But here’s what it means, it means that they have accepted, as if it were like rain falling from the sky, that this economic system we have crashes every few years. As if it’s kind of in the cards. Unchangeable. Unaffected by anything we might do.
It’s kind of like giving up on the human desire not to be plunged into a crazy unemployment and cutback every few years that interrupts people’s lives, their educations, their savings for the future. I mean, we ought to have an economic situation, or at least a debate, about an economic system that works this way rather than simply accepting it in the manner of these predictions. As if there’s nothing we can do.
LC: Absolutely. Donald Trump keeps telling us that unemployment is very low, so obviously he is a wonderful president. Is that true? Also I overheard on NPR that they had a panel or something about why wages aren’t going up considering how well the stock market has done over the past years, and how low unemployment is. The host just seemed baffled as to why wages have not gone up.
RW: Well again, there are a number of reasons why wages aren’t going up. What we’ve seen is a quote-unquote “recovery” that is very peculiar.
Two particular peculiarities: People who lost jobs — and those are in the millions in 2008, 2009, and 2010 — have now gotten jobs, that’s true, but the jobs they’ve gotten have lower wages, have less security and fewer benefits than the ones they lost, which means they can’t spend money like we might have hoped they would if they had got the kinds of jobs they lost, but they didn’t. And the second thing is that large numbers, particularly of white men aged 30-60, have not gone back into the labor force.
They lost their jobs, it’s very hard for them to find new jobs. The jobs they find are so poor that they’re more likely to stay at home, or do something else. So as the economy comes back at least with some jobs, and as they run out of savings, these people are slowly coming back.
So there’s no need for employers to raise wages to attract workers, they can just pull them slowly out of the desperate population of people who haven’t worked for years and have run out of savings. They can’t turn to their friends and relatives anymore, so they come back and accept the jobs that they were once too proud to accept. It’s a real downturn of the quality of life of America, which is why you don’t see the wages going up and why you see the anger and the bitterness, because all of the promises of Obama before, and of Trump now, are not changing that basic situation.
LC: Yeah, the quality of life has definitely gone down. If these jobs are not good — as you say — and also the gains have gone to the 1%, and something like 50% of Americans can’t afford a $1000 emergency, then why does it seem like everything just keeps trucking along? You know, you don’t really see things collapsing. There aren’t strikes shutting down whole cities. What’s the motor that keeps things going?
RW: Well at this point I think it really depends on what indexes you’re looking at. The biggest thing that’s kept this economy going in the last few years should make everybody tremble. It’s called debt, let me give you just a couple of examples. Ten years ago, at the height of the crash, the total debt carried by students in the United States was in the neighborhood of $700 billion, an enormous sum.
What is it today? Over twice that, one-and-a-half trillion dollars. The reason part of our economy hasn’t collapsed is that students have taken up an enormous amount of debt that they cannot afford, in order to get degrees which will let them get jobs whose incomes will not allow them to pay back the debts. And forget about getting married, forget about having a family.
We have paid an enormous price in hobbling the generation of people who would have otherwise lifted this economy and made us more productive. It is a disastrous mistake historically, and if you face that, and if you add to it the increased debt of our businesses, and the increased debt of our government, you see an economy that is held up by a monstrous increase in debt, not in underlying productivity, not in more jobs that really produce anything, but in debt.
That should frighten us because it was the debt bubble that burst in 2008 and brought us the crash. It is as if we cannot learn in our system to do other than we’ve always done and that’s taking us into another crash coming now.
LC: Yeah. This is the land of the free, but it seems like most of us are chained down by debt peonage.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Richard Wolff: The Next Economic Crisis Is Coming
Every time I sit down with economist Richard Wolff, he demonstrates why the field of economics is so necessary in the cultural critique of our American empire. In my recent interview with him, we discussed why the thriving economy touted by President Donald Trump hasn’t translated into real gains for the majority of Americans. We also went over what is hidden by the economic indicators that allow the financial industry to celebrate while so many Americans are still suffering.
Professor Wolff talked with me on my show “Redacted Tonight: VIP” on RT America. Enjoy this excerpt from the interview.
LEE CAMP: Professor Wolff — thanks for joining me! Last month was, apparently, the worst December for the stock market since the year 1980. What’s going on here?
RICHARD WOLFF: A lot of things are coming to a head. Each one of them by itself might have gone by without this, but they’re too many.
To list major ones: The tariff war with China, Europe and the rest creates enormous uncertainty. It makes all the predictions and plans of corporations and entire countries uncertain. People are holding back. Number one.
Number two, the capitalist system that we’re all part of has a downturn on average every four to seven years. It’s been more than seven years since the last crash — 2008/9 —so everybody knows it’s coming.
It’s not a question of whether, we’ve never been able to overcome these kinds of instabilities in our system. So we’re overdue for one.
And here’s another one that people don’t talk about. The big tax cut last December, 2017, gave an awful lot of money to the richest Americans and to big corporations. They had no incentive to plow that into their businesses, because Americans can’t buy any more than they already do. They’re up to their necks in debt and all the rest.
So what they did was to take the money they saved from taxes and speculate in the stock market, driving up the shares and so forth. Naive people thought that was a sign of economic health. It wasn’t. It was money bidding up the price of stock until the underlying economy was so far out of whack with the stock market that now everybody realizes that and there’s a rush to get out and boom, the thing goes down.
Very serious. The question now is how badly the underlying economy — jobs, incomes, and debts — will be impacted negatively by all of this stock market downturn.
LC: You brought up predictions of an impending crash because it’s been seven or eight years, even JPMorgan Chase has told investors that the next crash, the crisis, they think will be in 2020. What does it mean when the largest financial firms in the world are saying, “Oh yeah! We’re just going to have another financial crisis around the corner”?
RW: It’s a wonderful sign. (Laughs) And by the way, JPMorgan Chase is not the only one. Goldman Sachs has done that, the International Monetary Fund, lots of the major players know it’s coming. The only disagree on exactly when which you can never know anyway. But here’s what it means, it means that they have accepted, as if it were like rain falling from the sky, that this economic system we have crashes every few years. As if it’s kind of in the cards. Unchangeable. Unaffected by anything we might do.
It’s kind of like giving up on the human desire not to be plunged into a crazy unemployment and cutback every few years that interrupts people’s lives, their educations, their savings for the future. I mean, we ought to have an economic situation, or at least a debate, about an economic system that works this way rather than simply accepting it in the manner of these predictions. As if there’s nothing we can do.
LC: Absolutely. Donald Trump keeps telling us that unemployment is very low, so obviously he is a wonderful president. Is that true? Also I overheard on NPR that they had a panel or something about why wages aren’t going up considering how well the stock market has done over the past years, and how low unemployment is. The host just seemed baffled as to why wages have not gone up.
RW: Well again, there are a number of reasons why wages aren’t going up. What we’ve seen is a quote-unquote “recovery” that is very peculiar.
Two particular peculiarities: People who lost jobs — and those are in the millions in 2008, 2009, and 2010 — have now gotten jobs, that’s true, but the jobs they’ve gotten have lower wages, have less security and fewer benefits than the ones they lost, which means they can’t spend money like we might have hoped they would if they had got the kinds of jobs they lost, but they didn’t. And the second thing is that large numbers, particularly of white men aged 30-60, have not gone back into the labor force.
They lost their jobs, it’s very hard for them to find new jobs. The jobs they find are so poor that they’re more likely to stay at home, or do something else. So as the economy comes back at least with some jobs, and as they run out of savings, these people are slowly coming back.
So there’s no need for employers to raise wages to attract workers, they can just pull them slowly out of the desperate population of people who haven’t worked for years and have run out of savings. They can’t turn to their friends and relatives anymore, so they come back and accept the jobs that they were once too proud to accept. It’s a real downturn of the quality of life of America, which is why you don’t see the wages going up and why you see the anger and the bitterness, because all of the promises of Obama before, and of Trump now, are not changing that basic situation.
LC: Yeah, the quality of life has definitely gone down. If these jobs are not good — as you say — and also the gains have gone to the 1%, and something like 50% of Americans can’t afford a $1000 emergency, then why does it seem like everything just keeps trucking along? You know, you don’t really see things collapsing. There aren’t strikes shutting down whole cities. What’s the motor that keeps things going?
RW: Well at this point I think it really depends on what indexes you’re looking at. The biggest thing that’s kept this economy going in the last few years should make everybody tremble. It’s called debt, let me give you just a couple of examples. Ten years ago, at the height of the crash, the total debt carried by students in the United States was in the neighborhood of $700 billion, an enormous sum.
What is it today? Over twice that, one-and-a-half trillion dollars. The reason part of our economy hasn’t collapsed is that students have taken up an enormous amount of debt that they cannot afford, in order to get degrees which will let them get jobs whose incomes will not allow them to pay back the debts. And forget about getting married, forget about having a family.
We have paid an enormous price in hobbling the generation of people who would have otherwise lifted this economy and made us more productive. It is a disastrous mistake historically, and if you face that, and if you add to it the increased debt of our businesses, and the increased debt of our government, you see an economy that is held up by a monstrous increase in debt, not in underlying productivity, not in more jobs that really produce anything, but in debt.
That should frighten us because it was the debt bubble that burst in 2008 and brought us the crash. It is as if we cannot learn in our system to do other than we’ve always done and that’s taking us into another crash coming now.
LC: Yeah. This is the land of the free, but it seems like most of us are chained down by debt peonage.
Jan 16, 2019 17:08:12 #
Sicilianthing wrote:
What is Trump going to do with the Fraud of the Pl... (show quote)
I listen to Woff, but I think anyone who rubbishes Stalin can't be telling the complete truthfulness.
David Quintieri *The Money GPS ; 173 K subscribers, he says buy the dip because there will be no crash, the Plunge Protection Team will make sure there is money to be made available to you, if you buy and sell at the right times.
However, mind you, all major markets except the US, that is, Japan, Britain and European exchanges are not surpassing their highs reached a decade or so ago, but that doesn't matter, China has mom and pop investors so China doesn't matter either.
The US has Artificial Intelligence which does matter, that's when finance becomes the same as men posing as women, very sad really, because the only hot spot is when some get locked up allowing the Aliens in the market to become a live wire and so according to Quintieri that then signifies a dip is coming when a nanosecond becomes an eternity causing more money to be made by shorting the increase thus ensuring a continuous downward slide.
Why hasn't this dearth of projection happened in the US so far ?, Quintieri tell us it's due to hot money flows coming from far and wide seeking the security of an abundance of equity, I think that will remain true until Global control is taken back from the Plutocrats and given to Sovereign Nations, and the biggest sticking point preventing this from happening is maybe the Librarians who give legitimacy to the Global Plutocrasy, of course the say the opposite liars that they are.
Whether Trump's on the right path, I don't really know, Quintieri is like all Financial Analysts a Libertarian, probably all ethics are now determined by the ability to spend, leaving all ideologies opposed to the Liberal ethics becoming more and more Financially shorted and manipulated by Artificial Intelligence.
Thanks for a great post.
Jan 16, 2019 17:46:21 #
Sicilianthing wrote:
What is Trump going to do with the Fraud of the Plunge Protection Teams?
Good question. I guess it all depends on the fraud committed and the ease of convicting the fraudsters. Some fraud is prohibitively difficult to prove, some relatively easy. Some types of fraud are grievously harmful to a large group or section of the population, other types are hardly detectable either from their effects or by observation. It will be interesting to me as an outside observer...
Sicilianthing wrote:
Richard Wolff: The Next Economic Crisis Is Coming
Every time I sit down with economist Richard Wolff, he demonstrates why the field of economics is so necessary in the cultural critique of our American empire. In my recent interview with him, we discussed why the thriving economy touted by President Donald Trump hasn’t translated into real gains for the majority of Americans.
Every time I sit down with economist Richard Wolff, he demonstrates why the field of economics is so necessary in the cultural critique of our American empire. In my recent interview with him, we discussed why the thriving economy touted by President Donald Trump hasn’t translated into real gains for the majority of Americans.
Is that so? I'd like to see the raw data on that statistic because just about everyone I know and speak to about this tells me that yes, they are doing better now than they ever have done before, and they attribute their greater comfort and success directly to the Trump administration either cutting taxes, reducing government fees and regulations, or both. It would seem that we do not operate in the same 'America'.
Sicilianthing wrote:
We also went over what is hidden by the economic indicators that allow the financial industry to celebrate while so many Americans are still suffering.
Suffering from what? And how many is so many?
Sicilianthing wrote:
Professor Wolff talked with me on my show “Redacte... (show quote)
'Tariff war'. Love it! There is no 'tariff war! Yes, certain tariffs were raised on certain products in an attempt to highlight the one-sided trade taking place across certain borders, namely between the United States and China, and the United States and the European Union. As for China, products shipped out of China are heavily subsidized by the Communist regime over there, making trade with Chinese companies a very one-sided operation and causing American companies and workers untold hardships. Interestingly, now that there are import taxes being levied against these subsidized products, the Chinese government are suddenly open to renegotiating the terms of their relationship with American importers. Europe is a similar scenario, but on a much less grand scale.
Sicilianthing wrote:
Number two, the capitalist system that we’re all part of has a downturn on average every four to seven years. It’s been more than seven years since the last crash — 2008/9 —so everybody knows it’s coming.
It’s not a question of whether, we’ve never been able to overcome these kinds of instabilities in our system. So we’re overdue for one.
It’s not a question of whether, we’ve never been able to overcome these kinds of instabilities in our system. So we’re overdue for one.
Hmm. A Marxist college professor who bad-mouths capitalism. Imagine that. He's spot on about the frequency of so-called downturns, but that's not because we have 'capitalism' in America. Far from it. It's because we have a central bank endowed with monopoly rights to the issuance of a fiat currency that the American people are forced to use and accept as payment by law.
https://www.zerohedge.com/news/2018-11-30/how-everything-bubble-will-end
Sicilianthing wrote:
And here’s another one that people don’t talk about. The big tax cut last December, 2017, gave an awful lot of money to the richest Americans and to big corporations. They had no incentive to plow that into their businesses, because Americans can’t buy any more than they already do. They’re up to their necks in debt and all the rest.
Horse Puckey! Everybody got a tax cut. Not just 'the richest Americans'. Once again, Marxist disinformation being disseminated as fact. This guy has the gall to call himself an economist.
Sicilianthing wrote:
So what they did was to take the money they saved ... (show quote)
The stock market was artificially inflated for years by the Federal Reserve printing currency like there was no tomorrow. When the money base triples in a few short years, all that currency has to go somewhere, and with bank interest rates at or near zero, the stock market is the only obvious alternative. He's right about the negative impacts, but wrong about the causes, I think purposely so.
Sicilianthing wrote:
LC: You brought up predictions of an impending cra... (show quote)
One more time: "I mean, we ought to have an economic situation, or at least a debate, about an economic system that works this way rather than simply accepting it in the manner of these predictions. As if there’s nothing we can do." That's right, we should. That should start and end with ending the Federal Reserve and leaving people to make their own decisions about what they will accept as money. End the Fed and the 'boom-bust cycle' ends with it.
I can't do this anymore. This guy has absolutely zero interest in making honest appraisals of the economic disaster about to break across the globe once again and he seems more interested in pushing his Marxist propaganda as some kind of panacea for the real distress being caused in our everyday lives. No wonder the colleges are producing socialists and outright communists by the cartload, these kids are being indoctrinated by the likes of 'Professor' Richard Wolff and his comrades.
Jan 16, 2019 18:18:51 #
RT friend wrote:
I listen to Woff, but I think anyone who rubbishes... (show quote)
>>>
I can see the points RT but we are exposing the Fraud Trickery of the Usual Suspects who are all Actually the Plunge Protection Teams Trump needs to go after.
Like I keep saying, if everyone connects the dots they all lead back to these families and their cohorts.
They can’t hide anymore.
We’re going to blow the Whole Lid off this entire sham.
More later.
Jan 16, 2019 18:21:39 #
Larry the Legend wrote:
One more time: "I mean, we ought to have an ... (show quote)
>>>
Larry this is a lot of dissection and will take me time to respond to you with the annoying Cut n paste you see.
I will do it for you in a bit.
Thank You for your input.
Jan 16, 2019 22:33:51 #
Sicilianthing wrote:
>>>
I can see the points RT but we are exposing the Fraud Trickery of the Usual Suspects who are all Actually the Plunge Protection Teams Trump needs to go after.
Like I keep saying, if everyone connects the dots they all lead back to these families and their cohorts.
They can’t hide anymore.
We’re going to blow the Whole Lid off this entire sham.
More later.
I can see the points RT but we are exposing the Fraud Trickery of the Usual Suspects who are all Actually the Plunge Protection Teams Trump needs to go after.
Like I keep saying, if everyone connects the dots they all lead back to these families and their cohorts.
They can’t hide anymore.
We’re going to blow the Whole Lid off this entire sham.
More later.
All roads end at the seaside, some folks when they get there can sunbake until a big guy comes along and kicks sand in his face, what you gonna do if it happens to you, say! if your not that old with insurance against the high and mighty ?.
A recession is coming and there will be a sandstorm anyway, what kind of an attitude is that to have as a way of getting out of harm's way ?.
The under 30'ies couldn't care less if there is a recession, their only hope is for an inheritance, without it they have little chance to become affluent, in fact the US economy is so down on young people I can understand why there won't be an expected due depression or recession it's because economic problems are always solved by the strong attacking the weak, and there are plenty of under 30's to confront that attack.
Bullies prosper while the little guy learns about the real sandwich.
Jan 16, 2019 22:36:36 #
RT friend wrote:
All roads end at the seaside, some folks when they... (show quote)
>>>
Hmm interesting
Jan 17, 2019 03:19:58 #
Sicilianthing wrote:
>>>
Hmm interesting
Hmm interesting
That true, capitalism will never be challenged unless there is a massive calamity, but demographics will determine who sits in the drive's seat, my baby boomers have had it all our own way, emphasis on had, all the Globalists like Zuckerberg, Soros, all the Bilderberg Group all the news agencies tied in with corporate monopolies know it, everybody's knows it xcept the GOP.
Jan 17, 2019 12:43:14 #
Larry the Legend wrote:
One more time: "I mean, we ought to have an ... (show quote)
>>>
Good question. I guess it all depends on the fraud committed and the ease of convicting the fraudsters. Some fraud is prohibitively difficult to prove, some relatively easy. Some types of fraud are grievously harmful to a large group or section of the population, other types are hardly detectable either from their effects or by observation. It will be interesting to me as an outside observer...
Sici: Well Larry I guess that depends if one is tolerant or soft on what is considered difficult to prove.
>>>
Is that so? I'd like to see the raw data on that statistic because just about everyone I know and speak to about this tells me that yes, they are doing better now than they ever have done before, and they attribute their greater comfort and success directly to the Trump administration either cutting taxes, reducing government fees and regulations, or both. It would seem that we do not operate in the same 'America'.
Sici: Larry, I visit with companies everyday from A to Z small, medium and large sometimes and 9 out of 10 are not doing well, only the big ones are riding out the storm - so I disagree.
>>>
Suffering from what? And how many is so many?
Sici: C’mon Larry, where do you live the Hampton’s?
>>>
'Tariff war'. Love it! There is no 'tariff war! Yes, certain tariffs were raised on certain products in an attempt to highlight the one-sided trade taking place across certain borders, namely between the United States and China, and the United States and the European Union. As for China, products shipped out of China are heavily subsidized by the Communist regime over there, making trade with Chinese companies a very one-sided operation and causing American companies and workers untold hardships. Interestingly, now that there are import taxes being levied against these subsidized products, the Chinese government are suddenly open to renegotiating the terms of their relationship with American importers. Europe is a similar scenario, but on a much less grand scale.
Sici: Larry, in this camp we know none of those companies should EVER have been allowed to manufacture our goods overseas for many reasons and all those Trade Agreements ? They violate our sovereignty anyway. So I’m not a buyer anymore.
>>>
Hmm. A Marxist college professor who bad-mouths capitalism. Imagine that. He's spot on about the frequency of so-called downturns, but that's not because we have 'capitalism' in America. Far from it. It's because we have a central bank endowed with monopoly rights to the issuance of a fiat currency that the American people are forced to use and accept as payment by law.
https://www.zerohedge.com/news/2018-11-30/how-everything-bubble-will-end
Sici: I agree with this post.
>>>
Horse Puckey! Everybody got a tax cut. Not just 'the richest Americans'. Once again, Marxist disinformation being disseminated as fact. This guy has the gall to call himself an economist.
Sici: Plausible but he’s referring to that most can’t take advantage of the tax cut because they weren’t profitable, so it really benefitted the upper tiers.
>>>
The stock market was artificially inflated for years by the Federal Reserve printing currency like there was no tomorrow. When the money base triples in a few short years, all that currency has to go somewhere, and with bank interest rates at or near zero, the stock market is the only obvious alternative. He's right about the negative impacts, but wrong about the causes, I think purposely so.
Sici: Something is obviously wrong and I still lean toward what Jim Rickard’s, Roberts, Smith and others are saying about the Super Bubble and the Fraud of the Plunge Protection teams, it’s all rigged.
You are right about the FED, endthefed.com - I agree with G. Edward Griffin and Ron Paul, Game OVER.
Trump knows he’s got to do something fast.
>>>
One more time: "I mean, we ought to have an economic situation, or at least a debate, about an economic system that works this way rather than simply accepting it in the manner of these predictions. As if there’s nothing we can do." That's right, we should. That should start and end with ending the Federal Reserve and leaving people to make their own decisions about what they will accept as money. End the Fed and the 'boom-bust cycle' ends with it.
Sici: I can agree with this, yes it’s time to abolish the FED, IRS, IMF, ESF, BIS etc... HR25
I’ve created many topics on this over the years.
it’s Trump’s move next.
Jan 17, 2019 12:57:16 #
RT friend wrote:
That true, capitalism will never be challenged unless there is a massive calamity, but demographics will determine who sits in the drive's seat, my baby boomers have had it all our own way, emphasis on had, all the Globalists like Zuckerberg, Soros, all the Bilderberg Group all the news agencies tied in with corporate monopolies know it, everybody's knows it xcept the GOP.
>>>
Noted
Jan 17, 2019 14:24:51 #
Larry the Legend wrote:
Now that was some sound reasoning. I don't know if you're right on every point, but I do know the the FED is nothing but a tool of the men behind the curtain (Rockafellers, Rothschilds, etc.) that they used for years to manipulate the wealth of the US in ways that made them obscenely rich. Not sure if we'd know how to act if the FED went away, but I'd like to give it a try.One more time: "I mean, we ought to have an ... (show quote)
Jan 17, 2019 15:41:12 #
Fit2BTied wrote:
Now that was some sound reasoning. I don't know if you're right on every point, but I do know the the FED is nothing but a tool of the men behind the curtain (Rockafellers, Rothschilds, etc.) that they used for years to manipulate the wealth of the US in ways that made them obscenely rich. Not sure if we'd know how to act if the FED went away, but I'd like to give it a try.
>>>
There it IS !
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