Best of the Week
Most Popular
1.Gold Price Trend Forecast, Where are the Gold Traders? - Bob_Loukas
2.Stocks Bear Market of 2017 Begins? Shorting the Dow At its Peak! - Nadeem_Walayat
3.Betting on President Trump Leaving Office Early, Presidency End Date - Betfair Market - Nadeem_Walayat
4.Why Stock Market Analysts Will be Wrong About 2017 - Clif_Droke
5.Is This The Best Way For Investors To Play The Electric Car Boom - OilPrice_Com
6.Silver Price 2017 Trend Forecast Update - Video - Nadeem_Walayat
7.Gold Price Set For Very Bullish 2017, Trend Forecast - Austin_Galt
8.10 Things I learned From Meetings With Trump’s Transition Team - - John_Mauldin
9.How Investors Can Profit From Trumps Military Ambitions - OilPrice_Com
10.Channel 4 War on 'Fake News', Forgets Own Alt Reality Propaganda Broadcasting - Nadeem_Walayat
Last 7 days
The Best Reasons to Buy Gold in the Age of Trump - 22nd Feb 17
Silver, The Return of Stagflation - 22nd Feb 17
Why EU BrExit Single Market Access Hard line is European Union Committing Suicide - 22nd Feb 17
Gold: Short End US Rates Matter More Than Long End Real Yields - 22nd Feb 17
CONTINENTAL RESOURCES: Example Of What Is Horribly Wrong With The U.S. Shale Oil Industry - 22nd Feb 17
Here’s Proof Rising Rates Are Good for Gold - 21st Feb 17
Gold and Silver Weekly Update - 21st Feb 17
US Dollar and Gold Battle of the Cycles - 21st Feb 17
NSA and CIA is the Enemy of the People - 21st Feb 17
Big Moves in the World Stock Markets - Big Bases - 21st Feb 17
Stock Market Uptrend Continues - 21st Feb 17
Brent Crude Oil Price Technical Update: Low Volatility Leads to High Volatility - 20th Feb 17
Trump’s Tax System Could Spark The Wave Of Self-Employment - 20th Feb 17
Here’s How to Stay Ahead of Machines and AI - 20th Feb 17
Warning Signs Of Instability In Russia - 20th Feb 17
Warning: This Energy Investment Could Wreak Havoc On Your Portfolio - 20th Feb 17
The Mother of All Financial Bubbles will be Unimaginably Destructive when it Bursts - 19th Feb 17
Gold’s Fundamentals Strengthen - 18th Feb 17
The Flynn Fiascom, the Trump Revolution Ends in a Whimper - 18th Feb 17
Not Nearly Enough Economic Growth To Keep Growing - 18th Feb 17
SPX Stocks Bull Market Continues to make New Highs - 18th Feb 17
China Disaster to Trigger Gold Run, Trump to Appoint 5 of 7 Fed Governors - 18th Feb 17
Gold Stock Volume Divergence - 17th Feb 17
Gold, Silver, US Dollar Cycles - 17th Feb 17
Inflation Spikes in 2017, Supporting Gold Prices Despite Increased Odds of March Rate Hike - 17th Feb 17
Roses Are Red... and So's Been EURUSD's Trend - 17th Feb 17
Gold Trade Note Sighted - 17th Feb 17
Gold Is Undervalued Say Leading Fund Managers - 17th Feb 17
NSA, CIA, FBI, Media Establishment 'Deep State' War Against Emerging 'Trump State' - 16th Feb 17
Silver, Gold Stocks and Remembering the Genius of Hunter S. Thompson - 16th Feb 17
Maps That Show The US’ Strategy In Asia-Pacific - 15th Feb 17
The Trump Stock Market Rally Is Just Getting Started! - 15th Feb 17
Tesco Crisis - Fake Prices, Brexit Inflation Tsunami to Send Food Prices Soaring 10% 2017 - 15th Feb 17
Stock Market Indexes Appear Ready to Roll Over - 15th Feb 17
Gold Bull Market? Or was 2016 Just a Gold Bug Mirage? - 15th Feb 17
Here’s How Germany Buys Time From China - 15th Feb 17
The Stock Trader’s Actionable Guide to Trump - 15th Feb 17
Trump A New Jacksonian Era? The Fourth Turning (2) - 14th Feb 17
Stock Market Yet Another Wall Street 'Witch's Brew' - 14th Feb 17
This Is Why You Don’t Own A Lot Of Stocks - 14th Feb 17
Proposed Tax Reforms Face Enormous Headwinds - 14th Feb 17

Market Oracle FREE Newsletter

State of Global Markets 2017 - Report

The Power Elite Bought the U.S. Presidential Election With Central Bank Printed Money

Politics / US Presidential Election 2012 Feb 16, 2013 - 06:28 PM GMT

By: Bill_Bonner

Politics

Today, on the Ides of February, we hold our hat in our hand... we bow our head... and let our mouth fall open in amazement. Our Lenten program of fasting, prayer and meditation is producing results. We are lightheaded from near-starvation and alcohol deprivation. But our thoughts are clear. Or else, we are hallucinating.

In the last two days, we've taken a look at what promises to be the biggest bust-up of all time.


It began in stealth when a small group of big bankers boarded an unlisted train in the middle of the night. They all knew each other. All were from powerful New York banking families. But they didn't even use their own names when talking to one another... so afraid were they that word of their meeting would leak out.

Then the strange little group traveled in complete secrecy to a small island compound off the coast of Georgia. There they could talk freely. But the conversation wasn't about hunting or sports... or politics... or religion.

It was about how they could change the way America – and the world – did business. Every transaction, every purchase, every sale, every salary, every bonus, every investment gain or loss would be affected. Everything would change.

Still operating in nearly total secrecy, they got Congress to pass a law on Christmas Eve, when few members of Congress were at work and almost no one was paying attention – a law that would put vast new power in their hands. It must have been a bit like Obama's health care plan. It changed everything. But few people read the law before voting on it... and almost no one knew what it would mean.

Land of the Law

Now – 100 years later – not only is it the law of the land, but we have become the Land of the Law. That is to say, this new law changed the way we keep score in life... in business... in investing. It also changed the face of the country. We are now a nation shaped by paper money... formed by easy credit and activist bankers... built on a dollar of no sure value.

It is a system that allows people – especially those in the federal government – to spend money they don't have on things they don't need and can't afford. More important, it makes it possible for them to transfer vast sums of money... and massive new powers... to themselves.

It is that system that has kept the typical workingman's wages flat for the last 40 years. (Easy money and nearly unlimited credit allowed Americans to buy what they needed from overseas manufacturers... and never have to settle up on the bill.)

It is this system, too, that is responsible for electing presidents – such as Barack Obama, who, without the support of this banking cartel, would never have won the election in 2012.

Americans go to the polls. They think they decide who runs the country. But the real decision was made long ago. The real decision makers are people whose names few people know. If they decide to dump a president, his chances of reelection plummet. If they decide to stick with him – as they did with Obama – he is a near shoo-in.

The Fix Was In

Do you remember? Just a few months before last year's election, stocks and houses were sinking and Obama was running behind in the polls. And then things started going his way. His numbers started to look better. Housing began to stabilize. The stock market headed back up.

What happened?

The elite bankers – operating through the central bank that they own and control – announced more "stimulus." And now they're committed to a program of "QE to Eternity." As long as it takes. As much as it takes.

What did this mean, really? It meant that the Fed was printing money and giving it to its own cartel members. It didn't go to mom-and-pop businesses. It didn't go to struggling households. It didn't go to Rogue Economists.

No, it went to the big financial interests, the successors to the same fellows on the train 100 years ago: the movers and shakers in the financial world... the elite... the rich... the 1%. And it – more than anything else – determined the outcome of the 2012 election.

The popular press rants and raves about "the rich." But it has no real idea what is going on. The media think the Fed is trying to stimulate the economy. They're all for it. More money. More stimulus. More power to the activists.

But look what happened. The press reported a "recovery" in housing. There was no such thing going on – not really. Instead, as revealed in this space, the big money was getting money (at virtually no cost, thanks to the Fed's zero interest rate policy) and using it to buy houses. Ownership was passing from the little guys to the big guys, from Main Street to Wall Street.

Well-financed players were buying up hundreds of thousands of houses. Yes, they were putting a floor under prices. But they were also shifting more wealth from Middle America to the top of America.

And then Barack Obama – buoyed by a strong stock market... bottoming-out housing prices... and phony employment and inflation numbers – appealed to the little guy for his vote!

The whole show was breathtaking. The election was bought for him by the richest, most elite elements in the nation. And it was paid for with money that cost them nothing.

Bill Bonner
The Daily Reckoning

Bill Bonner [send him mail] is the author, with Addison Wiggin, of Financial Reckoning Day: Surviving the Soft Depression of The 21st Century and Empire of Debt: The Rise Of An Epic Financial Crisis and the co-author with Lila Rajiva of Mobs, Messiahs and Markets (Wiley, 2007).

http://www.lewrockwell.com

    © 2013 Copyright The Daily Reckoning, Bill Bonner - All Rights Reserved
    Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2016 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

Catching a Falling Financial Knife