While the ECB and BoE stand pat in their efforts to fight rising inflation with borrowing rates of 4% and 5% respectively, the US Federal Reserve has lowered its rate seven times in seven months to 2%.
The 15-nation Euro bloc covers 317 million people and 22% of global gross domestic product, more than Japan and China, but still below the US at 27% of global GDP.
At some point there will be a dawning realization by the People that the Fed, regardless of its front man (Bernanke, Greenspan, etc), is a toady for the gnomes who control America’s banks and big business.
In my Community Chat Thursday, I pointed you to “The Story of Deep Capture” - by Mark Mitchell. I hope you read it, ponder the implications if it is true – and I assert that most of it is – and start acting accordingly. Stop listening to the Talking Heads for bankers who would mislead you.
Capital markets need to be operated in the interests of the owners of capital, not for the servants in the form of financial services providers. The last 70 years have witnessed the biggest transfer of wealth as a percentage of all wealth created by man to the pockets of a few bankers and their Friends & Family.
For the benefit of society, this process must be reversed.