As we’ve been railing on about for too long now, the Federal Reserve is NOT serving the interests and welfare of the general public.
Instead it serves the top 1%. Or more accurately, the top 0.1% — i.e., the people who actually own the vast majority of financial assets, corporations and real estate.
Right now, the Fed is pouring gasoline on the “wealth gap”; the tremendous divide in social inequity it has largely been responsible for creating. And yet its Chairman, Jerome Powell, flat out refuses to acknowledge this.
The very valid grievances of many dispossessed and disempowered groups can be laid at the feet of the Fed.
Minorities starting at diminished employment prospects? Seniors unable to live off of their life savings in a world of 0% interest rates?
The Fed is either directly or indirectly responsible.
It’s way past time for society to realize the truth and stop believing the Fed’s pitch that it’s the hero riding to the rescue in this story. It’s not.
It’s the villain who created the injustices we’re sick of. And it’s “rescue” efforts are simply a trojan horse for using an economic crisis of its own making to enrich its stakeholders further.
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