By Catherine Austin Fitts
The Fed’s decision not to taper quantitative easing this week has equity and commodities markets up and interest rates falling. On one hand, that’s good news for many investment portfolios. But, for large corporations sitting on almost $1 trillion in cash, there’s even more pressure to deploy those funds.
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The strength of the response speaks to the power of centralization. While some would argue that centralization has made the Anglo-American alliance more competitive globally, it has also caused significant harm to households and local economies.
We have an economy with little resilience which has sacrificed productivity in order to aggregate large amounts of capital by criminal means. Invasive intelligence gathering by the NSA and their corporate partners has achieved significant asset stripping of local communities and labor.
On a global perspective, the West looks weak. From NSA revelations to Syria, we appear outwitted on the national stage: exposed as a group of people who have been blinded by the beauty of our weapons and the ability to keep printing money.
This morning’s headlines indicated Wall Street’s surprise that Ben Bernanke had stuck to his plan. I was surprised, too. I expected a bit more of a boom lowering. But, if Bernanke is going to wait until unemployment drops significantly, QE will be infinite. Either that or the unemployment numbers will have to be cooked even more than they are now.
A great depression is taking hold in the Heartland as communities grow increasingly dependent on social security, disability, welfare and food stamps. Down the road, robotics and Obamacare will not improve this situation.
We are in the fourth quarter and I, for one, would love to know what the leadership’s plan is … other than ongoing debasement of the currency, legislating more rules and creating more expenses for the productive.
