Monday, August 3, 2009

The Matrix of Plunder

We have been discussing over the past months how the robber barons vanished, not by geographical movement, but by morphing into the plunder barons, aided by the removal of laws that had made certain types of robbery a crime.

There is a smooth technique being used whereby the treasury money of the people is plundered, and those doing the plundering may even get distinguished service medals:
Wall Street banks are reaping outsized profits by trading with the Federal Reserve, raising questions about whether the central bank is driving hard enough bargains in its dealings with private sector counterparties, officials and industry executives say.

The Fed has emerged as one of Wall Street’s biggest customers during the financial crisis, buying massive amounts of securities to help stabilise the markets. In some cases, such as the market for mortgage-backed securities, the Fed buys more bonds than any other party.
(Financial Times [Wayback Machine version]). Isn't that convenient?

The main functionary of plunder of the American people should not be forgotten in all this, lest we consider the problem to be a simple one to solve, and misunderstimate the nature of the disease we face and who is doing it to us.

One insider who is wise to it was on Morning Joe on MSNBC this morning. Dylan Ratigan, who has a program called Morning Meeting on MSNBC, is wise to some of the schemes that are plundering the United States and he points it out.

1 comment:

  1. I feel helpless. Apparently President Obama gets to Washington and realizes Congress does not make or pass legislation. Its Corporate America. Because making such a deal with private business entitites make no sense. The reasoning behind this is not clear. Obama during his campaign talked about his interests in preventing this type of influence.
    I need to hear him address this issue. In the meantime I am out of words. Just so unbelievable. Want to hear from Sibilius. And Now.