American Serfdom – Companies Are Offering Loans for Living Expenses to Their Destitute Employees

There is no recovery. The only thing we’ve experienced over the past eight years of Obama is a historic plundering and strip mining of the U.S. economy by a handful of oligarchs and their political and bureaucratic minions.

The evidence has been clear for years. Fully employed Americans have been borrowing from payday lenders at egregious rates in order to pay for normal everyday living expenses, while a small group of executives grab as much as possible for themselves. You can see this in corporate profits margins at historically high levels and in the use of cash to buyback shares as opposed to paying employees a living wage. To see just how grotesquely out of whack the economy has become under the crony policies of Obama and the Federal Reserve, let’s revisit what I like to call the “Serfdom Chart.”

http://libertyblitzkrieg.com/2016/06/01/american-serfdom-companies-are-offering-loans-for-living-expenses-to-their-destitute-employees/#more-34679

 

AMERICAN SERFDOM – COMPANIES ARE OFFERING LOANS FOR LIVING EXPENSES TO THEIR DESTITUTE EMPLOYEES

There is no recovery. The only thing we’ve experienced over the past eight years of Obama is a historic plundering and strip mining of the U.S. economy by a handful of oligarchs and their political and bureaucratic minions.

The evidence has been clear for years. Fully employed Americans have been borrowing from payday lenders at egregious rates in order to pay for normal everyday living expenses, while a small group of executives grab as much as possible for themselves. You can see this in corporate profits margins at historically high levels and in the use of cash to buyback shares as opposed to paying employees a living wage. To see just how grotesquely out of whack the economy has become under the crony policies of Obama and the Federal Reserve, let’s revisit what I like to call the “Serfdom Chart.”

http://www.infowars.com/american-serfdom-companies-are-offering-loans-for-living-expenses-to-their-destitute-employees/

Federal Reserve embarks on historic new era of higher interest rates

The Federal Reserve raised interest rates for the first time since 2006, ending what Chairwoman Janet Yellen called an “extraordinary period” in which the bank sought to revive the economy in the aftermath of the Great Recession.

Policy makers on Wednesday voted 10 to 0 to lift the Fed’s short-term borrowing rate by a quarter-point to a range of 0.25% to 0.5%. The Fed’s short-term rate had kept near zero for seven years, marking an unprecedented era in the history of U.S. monetary policy triggered by the worst financial crisis and economic downturn since the 1930s.

http://www.marketwatch.com/story/fed-enters-new-era-of-higher-rates-2015-12-16

BANKS SHOULD NOT BE FORCED TO BUY ‘STOCK’ IN THE FEDERAL RESERVE

Now, several lawmakers on the House Financial Services Committee are trying to do the right thing. Reps. Bill Huizenga, R-Mich., and Steve Stivers, R-Ohio, with the support of Chairman Jeb Hensarling, R-Texas, want to give banks back most of the so-called stock they had to purchase when they joined the Fed.

Banks Should Not Be Forced to Buy ‘Stock’ in the Federal Reserve

House passes bill to overhaul the Fed

The Fed is not using a transparent monetary policy. And so because of this, greater transparency, greater accountability is necessary. Otherwise, we may soon awake to discover that our central bankers have morphed into our central planners,” said House Financial Services Committee Chairman Jeb Hensarling (R-Texas).

But the central bank maintains that opening up its deliberations to public scrutiny would politicize its decision-making process.

http://thehill.com/blogs/floor-action/house/260760-house-passes-bill-to-overhaul-the-fed

Ron Paul: ‘Greatest Resistance’ to Federal Reserve Audit is Desire to Keep International Activities Secret

Paul, while in the House, introduced legislation that would require an audit of the Federal Reserve. Via an amendment proposed by Paul and fellow House member Alan Grayson (D-FL) in the Financial Services Committee, much of Paul’s audit legislation was included in the Dodd-Frank Wall Street Reform and Consumer Protection Act that passed in the House of Representatives. However, the bill that was ultimately enacted in 2010 included instead a significantly restricted form of the audit language that originated in the US Senate. In 2012, Paul’s audit the Fed bill — the Federal Reserve Transparency Act (HR 459) — passed in the House by a vote of 327 to 98. The Senate, however, took no action on the bill.

http://ronpaulinstitute.org/archives/peace-and-prosperity/2015/october/13/ron-paul-greatest-resistance-to-federal-reserve-audit-is-desire-to-keep-international-activities-secret/

FEDERAL RESERVE AUDIT IS DESIRE TO KEEP INTERNATIONAL ACTIVITIES SECRET

 Paul, while in the House, introduced legislation that would require an audit of the Federal Reserve. Via an amendment proposed by Paul and fellow House member Alan Grayson (D-FL) in the Financial Services Committee, much of Paul’s audit legislation was included in the Dodd-Frank Wall Street Reform and Consumer Protection Act that passed in the House of Representatives

http://www.infowars.com/ron-paul-greatest-resistance-to-federal-reserve-audit-is-desire-to-keep-international-activities-secret/

FEDERAL RESERVE DIRECTLY RESPONSIBLE FOR RECESSIONS, DEPRESSIONS

 Thanks to Austrian-school insights, we can know the real source of all this trouble. The root cause is central banks’ producing fake money out of thin air. This induces, and necessarily so, a recurrence of boom and bust, bringing great misery for many people and businesses and eventually ruining the monetary and economic system.

Central banks — in cooperation with commercial banks — create additional money through credit expansion, thereby artificially lowering the market interest rates to below the level that would prevail if there was no credit and money expansion “out of thin air.”

Such a boom will end in a bust if and when credit and money expansion dries up and interest rates go up. In For A New Liberty (1973), Murray N. Rothbard put this insight succinctly:

http://www.infowars.com/federal-reserve-directly-responsible-for-recessions-depressions/