Thread: Fed and Banks Profits Soar In Economic Downturn

Fed and Banks Profits Soar In Economic Downturn

January 16 2010

A weak dollar balances nothing, banks taking as much risk as ever, and more, the economy has been eating its own young, Fed makes new credit card rules, significant increase in securities earnings due to Fed response to downturn, pondering the derivative collapse, Obama plans to tax the banks, parasites also profiting wildly, rail traffic still derailed.

We have been told over and over again a weak dollar would build exports and turn our balance of payments deficit down. Well, it hasn’t happened yet.

Goldman Sachs has admitted that they have been front running and opportuning against their clients in the fundamental strategies group, which is not subject to the same regulatory rules that equity research departments are. That is why they are called “Hannibal Lecterâ€

During an economic downturn, the central bank always does well. Because it is designed this way. During strife like this, what must be remembered is that wealth is not destroyed, but simply consentrated into fewer and fewer hands. This is why people like Thomas Jefferson have always loathed a central bank. They knew a central bank reduce the free people of America to the levels of serfs like the people of the old world.