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发帖数: 38600 | 1 The Financial System Is A Larger Threat Than Terrorism
http://www.paulcraigroberts.org/2016/03/08/the-financial-system
In the 21st century Americans have been distracted by the hyper-expensive “
war on terror.” Trillions of dollars have been added to the taxpayers’
burden and many billions of dollars in profits to the military/security
complex in order to combat insignificant foreign “threats,” such as the
Taliban, that remain undefeated after 15 years. All this time the financial
system, working hand-in-hand with policymakers, has done more damage to
Americans than terrorists could possibly inflict.
The purpose of the Federal Reserve and US Treasury’s policy of zero
interest rates is to support the prices of the over-leveraged and fraudulent
financial instruments that unregulated financial systems always create. If
inflation was properly measured, these zero rates would be negative rates,
which means not only that retirees have no income from their retirement
savings but also that saving is a losing proposition. Instead of earning
interest on your savings, you pay interest that shrinks the real value of
your saving.
Central banks, neoliberal economists, and the presstitute financial media
advocate negative interest rates in order to force people to spend instead
of save. The notion is that the economy’s poor economic performance is not
due to the failure of economic policy but to people hoarding their money.
The Federal Reserve and its coterie of economists and presstitutes maintain
the fiction of too much savings despite the publication of the Federal
Reserve’s own report that 52% of Americans cannot raise $400 without
selling personal possessions or borrowing the money. http://www.federalreserve.gov/econresdata/2013-report-economic-well-being-us-households-201407.pdf
Negative interest rates, which have been introduced in some countries such
as Switzerland and threatened in other countries, have caused people to
avoid the tax on bank deposits by withdrawing their savings from banks in
large denomination bills. In Switzerland, for example, demand for the 1,000
franc bill (about $1,000) has increased sharply. These large denomination
bills now account for 60% of the Swiss currency in circulation. |
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