We understand you’re all simply poor corrupt officials, however bleating reasons won’t save you from the karmic benefit.
The Federal Reserve can be summarized in 2 well-known lines from the timeless film Casablanca in which the corrupt cops authorities Renault is bought to close Rick’s cafe.
Renault: I’m surprised! Shocked to discover that betting is going on in here.
[The croupier hands Renault a wad of money]: Your earnings, sir.
The Fed is absolutely, completely, fatally corrupt. Just those being handed their ill-gotten gains defend the Fed. Everybody who is isn’t completely, totally, fatally corrupt wants America’s monetary Politburo tossed on the bonfire of history.
The Fed’s reaction to its highest-level officials minting millions in insider trading is as transparent as Captain Renault’s shock: just when the putrid corruption filling every nook and cranny of the Fed seeps out under the door does the Fed suddenly announce it’s surprised that expert trading is going on in here.
Any agency with the faintest wisp of stability would claw back all the trading gains of every Fed authorities and employee, but considering that the Fed is absolutely, entirely, fatally corrupt, the Politiburo’s mega-millionaires are handed their jackpots like the comically corrupt Captain Renault.
At least the imaginary Captain Renault had a sense of self-deprecating humor: at one point he declares, “I’m only a poor corrupt official.” Chairman Powell, here’s your cue: go on, say it: “I’m just a bad corrupt official.”
However the fatal corruption of America’s financial Politburo isn’t special; it’s of a piece with the rest of America’s fatally corrupt status quo, from the mega-millionaires in Congress minting millions in stocks (here’s looking at you, Ms. Pelosi) to the Huge Pharma parasites who avert responsibility for killing 10s of thousands of Americans with their falsely labeled medications (non-addictive, huh), the whole of America’s ruling elite is absolutely, entirely, fatally corrupt, from the billions gathered by contractors in Afghanistan to the corporate insiders minting billions with stock buy-backs– a type of scams that was illegal back prior to America became an ethical cesspool.
Kleptocrats worldwide are taking lessons from the Fed and the rest of America’s corrupt judgment elite: how to launder money? Easy– open opaque LLC accounts in South Dakota. America is the world’s best secured tax sanctuary, because it’s developed for America’s own corrupt elite.
The expense of corruption is a bit higher in America, but you get what you pay for: world-class corruption costs more. Here is America, a few million in lobbying and campiagn contributions can purchase basically anything: you need a tax loophole including some obscure life insurance coverage ploy? Pony up the cash and you got it on a silver platter.
Are loopholes available to the debt-serfs and tax donkeys? Obviously not. Our designated function is limited to making monthly debt payments, paying taxes and distracting ourselves with binge-everything.
The greater you increase the food chain, the more extensive the corruption. The croupier at Rick’s doesn’t have numerous opportunities for corruption; skimming anything will quickly cause termination and prosecution. But at the top in America, the chances for corrupt gains, skims, rip-offs, very finely veiled allurements and expert trading are essentially endless. As Cato the Senior observed: “Thieves of personal property pass their lives in chains; burglars of public home in riches and luxury.”
America’s corrupt elite is blind to the outcome of their escalating wealth: escalating inequality. And as a result, they’re blind to what will get rid of their putrid palace, for inequality is a systemic toxic substance that brings down even the greatest empires.
Dear corrupt Fed and corrupt judgment elite: the banquet of effects of your corruption is being served. We understand you’re all just bad corrupt authorities, however bleating excuses will not save you from the karmic payoff.
Who gained from this Fed-inflated bubble?
Who took advantage of this Fed-inflated bubble?
The answer: billionaires and the leading 0.1 %, with a couple of dregs draining down to the leading 5%:
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