Wealth Inequity in America

[Tom Wetmore]

[phkrause]

Very interesting, I didn't think it was that bad already. I knew back in '06-'08 it was worse than the previous 10 years and steadily rising.

[olger]

I don't know if this article is any good or not, but it deals with "Social Justice."

http://religiousliberty.tv/opinion-social-justice-popular-piety-or-modern-mania.html

g

[Tom Wetmore]

Very interesting, I didn't think it was that bad already. I knew back in '06-'08 it was worse than the previous 10 years and steadily rising.

Yes, if current trends continue there will really be no middle class, the backbone of the American dream and economy. It will be that there is only a rich ruling class and a poor working class.

[OzarkWoman]

That is, after all, exactly what is wanted in the first place. The powers that be want the middle class gone. But not to worry, I personally believe that there will be other problems that will overshadow that problem.

[lazarus]

Yes, if current trends continue there will really be no middle class, the backbone of the American dream and economy. It will be that there is only a rich ruling class and a poor working class.

Thanks for posting this Tom. I'm my reading and observation over the last few years this is one of the biggest issues that is looming for this and many other countries. This is beyond left and right. The American people are being "played". My question would be; what does society look like when this path reaches it's destination?

Here's where I might differ with you though....I think this is planned and relatively systematic rather than being a byproduct of failed policies and mismanagement.

[olger]

"Here's where I might differ with you though....I think this is planned and relatively systematic rather than being a byproduct of failed policies and mismanagement."

Interesting, LAZ. Who do you believe is "pulling the strings?"

[phkrause]

Originally Posted By: Tom Wetmore

Yes, if current trends continue there will really be no middle class, the backbone of the American dream and economy. It will be that there is only a rich ruling class and a poor working class.

Thanks for posting this Tom. I'm my reading and observation over the last few years this is one of the biggest issues that is looming for this and many other countries. This is beyond left and right. The American people are being "played". My question would be; what does society look like when this path reaches it's destination?

Here's where I might differ with you though....I think this is planned and relatively systematic rather than being a byproduct of failed policies and mismanagement.

I definitely agree with your last thought Laz. I can remember back to the late 50s and early 60s when pastors were already mentioning this, at least with the widening of the rich and poor classes. I've been hearing Pastors DB, MF, Lyle Albrecht, etc., preaching on this topic for years.

[phkrause]

Interesting, LAZ. Who do you believe is "pulling the strings?"

Why should this be interesting? Its been going on from who knows when! Our leaders are the only ones that can pull this off! It wont be one side of the aisle, it will be both, plain and simple.

[Igakusei]

I think it has more to do with systemic corruption and monied interests doing what it takes to protect themselves, not any sort of bipartisan conspiracy to leave most of the country in poverty. That sort of situation leads directly to revolutions, so it's generally not in the best interests of governments to create it.

[Bravus]

Would be interesting to compare with the income inequality in Czarist Russia.

[Bravus]

Leaving aside this content, this video is also a lovely example of good visual communication.

[Planey]

Would be interesting to compare with the income inequality in Czarist Russia.

Tsar wars?

Graeme

[fccool]

I think it has more to do with systemic corruption and monied interests doing what it takes to protect themselves, not any sort of bipartisan conspiracy to leave most of the country in poverty. That sort of situation leads directly to revolutions, so it's generally not in the best interests of governments to create it.

It actually has to do more with the way monetary system is set up.

When you have private banks that create money at interest and lend it... there will be a point of time when people around the banks and the money creation scheme will end up with the majority of the resources, while people on the borrowing side will end up with nothing.

It's really a simple math.

[lazarus]

When you have private banks that create money at interest and lend it... there will be a point of time when people around the banks and the money creation scheme will end up with the majority of the resources, while people on the borrowing side will end up with nothing.

That's it.

[BobRyan]

Would be interesting to compare with the income inequality in Czarist Russia.

Indeed.

The opening video contrasts what we "imagine" with what is "real" and then claims that since "What we imagine" is not reality - the "system" is broken.

So "yes" the Russians then "imagined" something and brought reality a lot closer to their sweet imagination for about 70 years.

Until they figured out that it was a bad idea.

[BobRyan]

When you have private banks that create money at interest and lend it... there will be a point of time when people around the banks and the money creation scheme will end up with the majority of the resources, while people on the borrowing side will end up with nothing.

It's really a simple math.

Privatizing the Fed was a huge mistake - voted while congress was essentially on vacation.

So we can see how those who own the Fed and who can simply print money - would be in a position to "gain".

But that does not account for all the wealth in America.

in Christ,

Bob

[cricket]

The Christian can find his wealth through other means.

Matthew 19:21-22

21Jesus answered, “If you want to be perfect, go, sell your possessions and give to the poor, and you will have treasure in heaven. Then come, follow me." 22 When the young man heard this, he went away sad, because he had great wealth.

[Tom Wetmore]

Privatizing the Fed was a huge mistake - voted while congress was essentially on vacation.

So we can see how those who own the Fed and who can simply print money - would be in a position to "gain".

But that does not account for all the wealth in America.

in Christ,

Bob

Actually that is a big misconception. The Federal Reserve banks are not "owned" in a typical privately owned for-profit business sense. They really can't "simply print money" on a whim. The stock of the reserve banks is not like shares of a regular for-profit since they cannot be bought or sold or pledged as security. That stock is restricted and yields a statutorily limited dividend. The Federal Reserve system is a mix of private member bank representation through the boards of directors (serving more of an advisory role) of the regional reserve banks and significant Congressional oversight and operated and controlled through the board of governors which are appointed by the president. The terms of the board of governors are such that, any given president is not going to be able to "stack the deck" politically.

[BobRyan]

Actually -

Quote:

“Some people think that the Federal Reserve Banks are United States Government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders.”

– The Honorable Louis McFadden, Chairman of the House Banking and Currency Committee in the 1930s

The Federal Reserve (or Fed) has assumed sweeping new powers in the last year. In an unprecedented move in March 2008, the New York Fed advanced the funds for JPMorgan Chase Bank to buy investment bank Bear Stearns for pennies on the dollar. The deal was particularly controversial because Jamie Dimon, CEO of JPMorgan, sits on the board of the New York Fed and participated in the secret weekend negotiations.1 In September 2008, the Federal Reserve did something even more unprecedented, when it bought the world’s largest insurance company.

http://www.globalresearch.ca/who-owns-the-federal-reserve/10489

Quote:

-----------Below is the list of the owners of the 12 Central Banks:

- Rothschild Bank of London

- Rothschild Bank of Berlin

- Lazard Brothers of Paris

- Israel Moses Seif Banks of Italy

- Warburg Bank of Amsterdam

- Warburg Bank of Hamburg

- Lehman Brothers of New York

- Kuhn Loeb Bank of New York

- Goldman, Sachs of New York

- Chase Manhattan Bank of New York

In all, there are about 300 VERY POWERFUL, partly foreign individuals that own the FED.

Not all news is good news.

in Christ,

Bob

[Tom Wetmore]

First of all, the term "central bank" is not the correct term to describe that list of twelve banks. http://en.wikipedia.org/wiki/Central_bank . Here is the list of the Central Banks of world - http://en.wikipedia.org/wiki/List_of_central_banks

That twelve random banks are listed tends to give the erroneous impression that it is speaking of the twelve regional reserve banks in the US Federal Reserve system. It might be well to get a few basic facts correct by reading http://en.wikipedia.org/wiki/Central_bank

http://en.wikipedia.org/wiki/Federal_Reserve_System

http://en.wikipedia.org/wiki/Federal_Reserve_Bank

And leading with a quote from Louis McFadden might not be a terribly reliable source for objective factual information about the topic. It tends to significantly call into question the credibility of your source.

Have a look - http://en.wikipedia.org/wiki/Louis_T._McFadden

Here are just a couple of priceless factoids on him from the Wiki article:

Quote:

McFadden is also remembered as a "vociferous foe of the Federal Reserve,"which he claimed was created and operated by Jewish banking interests who conspired to economically control the United States. On June 10, 1932, McFadden made a 25-minute speech before the House of Representatives, in which he accused the Federal Reserve of deliberately causing the Great Depression.

* * *

In 1934, he made several anti-semitic comments from the floor of the house and in newsletters to his constituents wherein he cited the Protocols of the Elders of Zion, claimed the Roosevelt administration was controlled by Jews, and objected to Henry Morgenthau Jr., a Jew, becoming Secretary of the Treasury. Drew Pearson claimed in his "Washington Merry-Go-Round" column that, in a publication by the American fascist Silver Shirts, McFadden had been "extensively" quoted "in support of Adolf Hitler". In September the Nazi tabloid Der Stuermer praised McFadden. He was also lauded by the publications of William Dudley Pelley, leader of the Silver Shirts, on several occasions.