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The Federal Reserve’s War Against the Human Race

15 September 2008, 12:49, by Joe Sixpack

Relevant and true, but only partly true. The blame, realistically speaking, should be spread much further, especially to the silent majority — those individuals and organizations who have prospered since the repeal of Glass-Steagall. Throw in Bill Clinton for that matter because he began the cycle of deregulation that has fueled the hedge fund madness ruining the capitalist system.

The hedge fund was orginally instituted as a hedge against short sellers, but since has become a wild gambling spree. Money chasing money chasing debt. In the early 50s you had to invest in a tangible enterprise that produced goods and services to make a profit. But since 1960, and especially during Clinton’s Administration, the new form of "investing" had more to do with betting on betting, capitalizing not on tangible efforts but on other people’s bets in the form of derivatives, CDOs, SIVs, LDIs, etc.

This "investment" by American institutions and investors, as well as pension fund managers and universities, has been a blind enterprise, led by a few Wall St. managers who bet on ARMs and bubbles, as if the economy was gojng to perpetually grow at a rate that would allow Joe Sixpack enough income to pay double his mortgage in 3 years. This has been the heart of the "Banking System." It hasn’t been the Rothchilds or the Elders of Zion or the Masons. It has been clever MBAs, lawyers, arbitragers, investment bankers, lobbyists and politicians who figured out Ponzi schemes to rip off the ignorant — those who can’t decode the mumbo-jumbo of "investment instruments."

Step right up in the town square ladies and gentlemen and see if you can follow the pea as it passes from shell to shell. Look, that guy in the Bank America T-shirt did it and made $40. How about you? No? Your eyes aren’t fast enough? Oh, well. Try again tomorrow. In the meantime go home and watch a little TV. Hey, how ’bout those Cubs. And Britney’s looking good again, huh?

In the meantime the Neocons are grabbing the Iraqi oil and hardly a word. Very few pictures anymore either. Every day there’s a new millionaire. But he ain’t you. He ain’t me. He’s one of them, on the inside, knowing how to fix the game his way. And that’s the way it’s been over the past 20 years or so for the Fat Cats.

And who’s complaining? After all, if you knew what to do with your spare change, you too could’ve made a bundle on oil futures. Maybe you still can. Ike’s going to help raise profitability. Why not get in on it. You don’t have the gumption to rebel, not really. You’re actually thinking about McCain despite the fact he will obviously continue the Neocon nightmare.

But so what. What can you do about it? Might as well make a little dough. Keep the game going. Above all Americans are good at mitigating that sense of depair and rage that churns within their intestines because of what a mess America has made of the world.