This is legislation that would move the federal reserve from its dual mandate of maintaining price stability (which is anathema to the dollar debasement that it creates through its massive money printing operations) and keeping unemployment low (which it has failed to do...curious...) to just promoting price stability. Hmmm...what would that mean for the Fed's unofficial mandate of trashing the dollar?
And Turkey, the fastest growing economy after China, is being penalized in the credit markets for failing to promote consumer savings, according to bloomberg. What? You mean savings matter!! That's amazing...ummm not to us it isn't. You can't have economic growth without savings, because you can't have investment without capital. Capital comes form savings, and growth comes from investment, but its shocking how many people think money "grows on tress." Can you blame them, when we have a serial money printer at the Federal Reserve, pushing us all into serfdom and neo-feudalism with a policy of perpetual bailouts and zero percent interest rates? Oligarchy here we come!
Finally, with central bank policies of the fed and ECB amounting to --trash for cash -- as economist David McWilliams puts it with his "Punk Economics: Lesson 2," turning "water into wine." These perpetual bailouts are nothing other than an institutional form of wealth transfer. They are nothing but wealth extraction, moving money from the bottom of society, to the top. The money changers. The banksters. The feudal lords. The money chieftains. Call them what you will. They are kleptocrats, and using compounding interest in order to pound society back into the feudal period of landless serfdom.
We speak with our guest, famed trends forecaster Gerald Celente about Greece, the global banking kleptocracy and the attempt by financial oligarchies to occupy the world using paper derivatives index to nothing but wealth extraction.