by Chris Martenson, Peak Prosperity:
By its actions, the Federal Reserve has selected a precious few winners and many, many losers. Sadly, you are highly likely to be one of the losers.
I’m one, too, if that helps soften the blow.
But we have a lot of company. Other losers include:
- Anyone with money in a checking account
- Anyone with money in a savings account
- Anyone with money in a CD
- Anyone depending on bond income
- All pensions
- First time homebuyers
- Those who invest based on fundamentals
- Everybody alive in the future, when the bills come due
Anyone on this list has been intentionally pre-selected by the Fed for losing. The Fed has done this deliberately, with full pre-knowledge that it was going to diminish the prospects of the majority in favor of the benefit of an elite few. And to make matters worse, it has no plans to — and no clue how to — reverse the damage it has wrought.
Everyone on the list above has been dinged by the Federal Reserve — on purpose and by design, I will repeat — in order to transfer wealth and purchasing power to:
- Big banks
- The government
- Entities with large stock (equity) holdings
- The wealthiest 0.1%
- Borrowers (the heavier the better)
- Well-connected insiders whom the Fed tipped off in advance
This has, of course, not been lost on the 99.9% relegated to the loser camp. They are angry and growing more pissed off by the day. We see this anger playing out politically, in street protests, and in growing tensions with the police. All of this is connected, of course.
Soon, more and more folks will figure out the source of the growing inequity causing this anger, and the hot new trend of the future will be Fed bashing. So you might as well get in on the ground floor…
As primates, we’re all hard-wired to expect fairness. It’s part of being a social creature. When we experience unfairness, we react the same way this Capuchin monkey does, although we might try to convince ourselves we do so in a more civilized manner:
But really, we’re just as emotionally-driven as that poor, deprived monkey when confronted with our own circumstances of injustice.
While it’s true that the world will never be completely fair, the conditions today are extremely ripe for provoking a lot of righteous populist anger.
Watching big banks commit huge felonies time and again, then get away with only paying fines that are mere blips on their earnings statements, has been difficult for me to swallow — as it was for a large number of other people. The recent movie The Big Short does a good job of making your blood boil on this point.
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