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Central Banksters Created Our Problems, Not the Rich

Wednesday, November 2, 2016 7:54
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To be clear there are many people who have become illegitimately rich because of our crony capitalist system. But the central banks, particularly the Federal Reserve, are the prime movers of crony capitalism. Things continue down the wacky economic path they’ve been on for the past decade and a half (really before that too) because the central banks fear a real, honest to goodness, profit and loss, economy.

There are the legitimately rich and the illegitimately, crony rich. However even the illegitimate rich need to be taken down via a freed market not by some group of bureaucrats who really just want to go after a few rich folks (probably more of the legitimately rich because they are in fact legitimately rich, not cronies) so that they in turn can line their own pockets and/or bolster their own power.

Never trust statists to fix a problem caused by statists. Actually, just never trust a statist.


Taking money from the rich is appealing if you go to voters, and you say to them, “Look, the reason the economy is doing so badly, it’s because of the rich people, the billionaires. We have to take 20 percent away from them and give it to you.” You can be sure that everybody will vote for that because the wealthy are a minority. This is what happens after monetary policies completely fail.

Some well-connected people will hide their wealth but a lot of people won’t. Even if they take 50 percent from the richest, it’s not going to help. The next step will be to take money from less wealthy people; the interventionists will go all the way.

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