Best of the Week
Most Popular
1.UK General Election Exit Polls Forecast Accuracy - Nadeem_Walayat
2.What's Next for the Gold Price? - Axel_Merk
3.UK House Prices Correctly Forecast / Predicted Conservative Election Win 2015 - Nadeem_Walayat
4.15 Hours to Save England from SNP Scottish Nationalist Dictatorship - Election 2015 - Nadeem_Walayat
5.Exit Poll Forecasts Conservative UK Election 2015 Win - Nadeem_Walayat
6.Gold And Silver China’s Pivotal Role: More Questions Than Answers. Not So For Charts - Michael_Noonan
7.Conservative Win 2015 UK General Election, BBC Forecast of 329 Seats - Nadeem_Walayat
8.Investing and the Lollapalooza Effect - Niels C. Jensen
9.Gold Price Target - Rambus_Chartology
10.Gold Price Nearing An Important Pivot Point - GoldSilverWorlds
Last 5 days
Time To Get Real About China - 22nd May 15
Gold Lifeboat to Global Economies “Titanic Problem” Warn HSBC - 22nd May 15
One Investment Could Save Two Generations' Retirements - 22nd May 15
Investing is About Identifying Gifted and Talented Camps - 22nd May 15
One of Europe's Latest Debt Nightmares - 22nd May 15
UK Immigration Crisis Could Prompt BREXIT, Propelling Britain Out of EU Despite German Factor - 22nd May 15
America Superpower 2016 - 21st May 15
Stock Market Secular Versus Cyclical Investing - 21st May 15
Banking Stocks Break Out with Higher Bond Yields - 21st May 15
The Tech Portfolio Built to Beat the Market - 21st May 15
Gold “Less Sexy” Than Bitcoin … For Now - GoldCore on CNBC - 21st May 15
The Russia-West Rivalry in the Balkans - 21st May 15
The US Dollar and the Precious Metals Complex - 21st May 15
Gold GLD ETF Drawdown Continues Unabated - 21st May 15
Who’s Killing the Stock Market? - 21st May 15
Your Best Way to Profit from the Narrowest Market in 20 Years - 21st May 15
Government Regulation and Economic Stagnation - 20th May 15
It’s Time to Hold More Cash and Buy Gold - 20th May 15
Choppy Asian Stock Markets - 20th May 15
Countdown to Global Financial Collapse - 20th May 15
Will Interest Rates Ever Rise? - 20th May 15
How to Cash in on Amazon Stock’s Amazing Cloud Success - 20th May 15
Three Hidden Forces Pushing Crude Oil Price Back Up - 20th May 15
U.S. Housing Market Strong Numbers in Perspective - 20th May 15
Greece Debt Crisis - Obama Has A Big Fat Greek Finger - 20th May 15
Now Is the Time to Own the Oil & Gas Leaders - 20th May 15
UK Deflation Warning - Bank of England Economic Propaganda to Print and Inflate Debt - 20th May 15
Trading Gold and Silver along with the Pros - 19th May 15
Gold Ticks Higher as London Housing Market Crash Looms? - 19th May 15
Global Stock Market, Commodities Group Analysis - 19th May 15
How Stock Investors Could Profit from the Dark Net Pattern That Few Others See - 19th May 15
The Patriot Act is now USA Freedom Act - 19th May 15
Investing in Europe? 5 Critical Insights to Boost Your Portfolio Now - 19th May 15
Gold Price Trend Forecast - 19th May 15
Stock Market Continues Defying Gravity, Dow New All Time High - 19th May 15
Are Gold and Interest Rates About To Take Off Higher? - 18th May 15
Nikkei Japanese Stock Index Set To Get Smashed - 18th May 15
Silver Price Projections For 2020 - 18th May 15
The IMF Leaks Greece, Institutions Forcing a Debt Default - 18th May 15
Europe's Stocks Bull Market Continues After Correction - 18th May 15
European Banks Vulnerable Today As 2008 Financial Crisis - 18th May 15
Payments, Currencies, and Broken Money - 18th May 15
Learning to Trade Markets - Dealing with Losing Trades - 18th May 15
Stock Market Sell in May and Go Away - Last Hurrah - Take2 - 18th May 15
The No. 1 Reason Stocks Will Climb Higher - 17th May 15
Gold, Silver Distorted Markets, Financial Sophistry, and Moral Hazard - 17th May 15
Stock Market CAC40 Trend Forecast - 17th May 15
Stock Market Diagonal Pattern Nearly Complete - 16th May 15
Gold And Silver - Elite's Game Of Jenga In Place. Your Move - 16th May 15
You’ll Never See a Better Moment to Invest in China - 16th May 15
Are Gold and Silver Stocks Breaking Out? - 16th May 15
War On Cash - Why the IRS Seized All the Money from a Country Store - 16th May 15
Is China Economy a Fire-Breathing Dragon or a Dragon on Fire? - 16th May 15
Silver Buying Only Starting - 16th May 15
Why Opinion Pollsters Got UK Election 2015 Badly Wrong - 15th May 15
Double Black Diamond - What a Bond Bear Market Looks Like - 15th May 15
This “Bubble” Is Set to Kick Off New Energy Profits - 15th May 15
German Gold Demand "Spikes"- Investment Demand Surges 63% - 15th May 15
How GDP Metrics Distort Our View of the Economy - 15th May 15
McDonald's Future Is Hard to Digest (NYSE: MCD) - 15th May 15
Dry Bulk Shipping Index Chart Analysis Update 2015 - 15th May 15
Economic Expansion Ahead? World Stock Markets Analysis - 15th May 15
Why Not Tell Greece How To Run A Democracy? - 15th May 15

Free Instant Analysis

Free Instant Technical Analysis


Market Oracle FREE Newsletter

Biggest Debt Bomb in History

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.


© 2005-2015 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

Biggest Debt Bomb in History